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Can Tradelines Boost Your Credit Score?

Do you have bad credit or no credit? Do you have decent credit, but want to amplify your credit score?

You’ve likely heard all the traditional advice for improving your credit score: secure lines of credit, make your payments and don’t fall into poor standing. This conventional advice isn’t always the best, especially for those who wish to repair and rebuild their credit quickly.

Fortunately, tradelines exist as a valuable tool that anyone can use to build, repair and enhance their credit rating.

What Exactly is a Tradeline?

A tradeline is a line of credit that has been held in good standing for an extended period of time. Officially known as “seasoned tradelines,” these accounts have an undoubtedly positive impact on credit ratings.

Borrowers who have seasoned tradelines offer up their accounts to a third party for a fee. Typically, the third party does not have access to any account information that would allow them to use the account. Borrowers add the third party as an authorized user on the account, which places the account on the third party’s credit report.

The practice of adding third parties to seasoned tradelines with the purpose of improving a credit score is known as “piggybacking.” Piggygbacking tradelines is an outstanding, and entirely legal, tool that you can use to amplify your credit score.

How Does a Tradeline Benefit Me?

Your credit score is unique to you. There’s no other credit report in the world that’s exactly like yours. This means that the impact of adding one more tradelines is difficult to predict.

Credit scores are calculated by credit unions using a complex algorithm. This algorithm uses many variables to produce a credit score. Adding tradelines introduces a new variable to the equation. Everyone will experience varied results, since the other variables involved will be different.

However, there are a few general benefits that have been found as people have started using tradelines:

  • People with few negative items on their credit report see a higher increase than those with many negative items. However, tradelines have been shown provide a worthwhile increase to negative reports.
  • The amount of tradelines on your report plays a factor. The fewer tradelines, the more increase you’ll see per tradeline. The amount of tradelines that can be used before the results diminish will vary.
  • People with no established credit have experienced large increases in their credit score. This situation is common with immigrants to the United States who have money, but lack an adequate credit rating. Purchasing tradelines helps establish their new credit history.

Getting Started With Tradelines

Are you ready to see how tradelines can improve your credit score? Adding tradelines to your credit report is an option available to anyone.

Your first step is to determine the best credit repair service to employ. It’s ill-advised to try to add tradelines on your own. The right credit repair service will analyze your report and help you find affordable tradelines that will provide the best boost. They’ll also administrate and secure the entire process.

It’s time to take your credit score into your own hands with tradelines.


Tags: tradelines to boost credit scoretrade linetrade lines