Have you ever heard of puting an exsiting tradeline on your credit profile?

Question

I came across this ad below and many others like it while searching for credit building techniques. If something like this actually works it would be an invaluable service that could save 10's of thousands of dollars when getting a mortgage. Anyone ever done this before and is it legal?

"WHAT IS A TRADELINE? YOU ARE MADE AN AUTHORIZED USER ON AN ESTABLISHED SEASONED AGED CREDIT CARD TRADELINE WITH APPROX $10-18K IN AVAILABLE CREDIT, WITH THE OWNERS PERMISSION OF COURSE. THE CARDS HAVE AGED SOLID HISTORY OF 36-48 CONSECUTIVE MONTHLY PAYMENTS, WITH NO LATES. THEY ARE PAID IN FULL EVERY MONTH. YOU DON'T ACTUALLY GET THE CARD IN THE MAIL, YOU JUST GET THE PAYMENT HISTORY. EACH TRADELINE WILL ADD AN AVERAGE OF 20-30 POINTS TO YOUR CREDIT SCORE AND IT LOOKS VERY POWERFUL ON YOUR REPORTS."

Answer 1

I've heard of this before... i don't think it's illegal, for now. It's definitely manipulating the scoring formula of the three credit bureaus. Warning: you must first agree to owe them something (ex service charge) for them to report a payment. Also, if they don't report to all tree bureaus every month, it doesn't do you any good, and it's considered a debt (which can effect you debt ratio).
I too am interested on how it all works, be care full.

Answer 2

Sounds like a scam to me.