Side Hustle Idea: Make 6 Figures By Adding People As An Authorized User On Your Credit Cards

Being the owner of a commercial and business finance brokerage, I have the opportunity of getting to discover new networks and business models that other people have had financial success with. I am always fascinated with discovering how people reached their first 6 or 7 figures. Every time, I am reminded there is truly no shortage of money on this planet or ways to go get yours.

I’ll keep it simple and straight to the point for you. Anybody with healthy credit history, low balances, and larger credit lines can do this. Basically, you are renting out your credit worthiness to other people. This isn’t an instant gratification play, rather a long term play that if done consistently over time; can net you six figures.

1. Open up CC’s and build out at least one year of credit history on each card.
2. Look for companies that sell authorized user spots. A great company for this is www.tradesupply.com .
3. The older your accounts are and the higher the credit limits you have access to, the more commissions you will earn per authorized user.

You will be able to sell your authorized user spots between $100-$500 per spot. If you have 10 qualifying credit cards with access to 99 authorized users that turns out to be 999 available spots. Coming in at $100/spot that would get you to $100,000 in profits just for letting people rent out your CC’s.

Qualified accounts must have the following:

• Less than 30% utilization across all credit lines
• Perfect payment history
• At least one year of age.

I thought this was a brilliant way of adding an additional revenue stream when I came across this from a fellow broker friend of mine. Take it and run with it $$$.