Anyone know about a company called FastUnsecured?

[duhb0neman]

I've been looking around at credit rebuilding advice and during one of my searches found FastUnsecured. They are also partnered with a few other companies(TopTradeLines, InquiryBusters) that proport to clean up your credit scores by getting rid of inquiries and adding a number of "seasoned tradelines." Basically, you are added on as an authorized user on someone else's credit card. You don't have access to the credit, just the benefit of the good credit line.

They promise a lot e.g. 20 to 150 points of improvement in your credit report. It costs a LOT too. $600 to $6000 or more for a lot of these seasoned tradelines.

Is this a "typical" way to repair credit without trying to use some dead person's SSN or other weirdness? Just wondering if it is even worth pursuing this once I find $4000 that I want to flush down a toilet for no reason... ;)

[justbroke]

I have heard/read about people doing this, but never knew that there were companies that "sold" trade lines or other credit-related products/entities in order to improve/obtain credit.

Typically people repair their credit the old-fashioned way; they earn it. In other cases, someone may ask a relative or really good friend to add them as an authorized user on their account(s). Of course you need to make sure your relative/friend has really good credit, always pays on-time, and isn't in jeopardy of falling behind in payments. The "earned" way is to start building again using everything from secured cards to credit-builder loans.

[duhb0neman]

Well, sometimes the old-fashioned way is too slow. I'm just not certain this is a reality based solution. They pay for good tradelines. So if you have a 5, 10, 30 thousand dollar credit card laying around somewhere doing well, they will pay you to allow a couple authorized users. At least, that's the story they give on their website.

IDK, the hook is the FastUnsecured site that tells you they can get you loans and credit cards all at once. All you have to do is pay them a 15% "success fee" from each line. If your credit is shaky, they'll upsell you these other services. Seems like a good way to lose a LOT of money at one time.

Most of their reviews and even BBB shows that they are pretty legitimate. However, that can be simulated pretty well these days. I was wondering if anyone here has tried something similar.

[justbroke]

I agree that the "old-fashioned way" is way too slow. I have used the "authorized user" route to improve my post bankruptcy credit. I did this with a friend I trust, and was the one that made the payments on the card to make sure it was never late.