The world of credit can be a difficult one to navigate for many. Even if you aren’t new to the world of credit, it can sometimes feel impossible to discern credit myths from credit facts. Understanding how credit works is the best way to build AND maintain a positive credit score. Come with us as we explore some of the top 3 credit myths so you can take the smarter approach to build your credit. Myth #1 - You Must Carry a Balance To Build Credit This myth is 100% false and we’re not totally sure where it came from.…

Contrary to what some might believe, there is nothing illegal or unethical about buying tradelines. In fact, the process of purchasing tradelines is becoming more and more popular in the credit repair and servicing world. Of course, it is important that you note that not all companies look at tradelines in the same way. A company might use tradeline information to decide whether or not you have the ability to make consistent payments in the future. Of course, there are some companies that might see tradelines as a misrepresentation of your credit, as it’s not truly yours. The positive thing…

The last thing you want to do after you make your tradeline purchase is not ever see them post on your credit report. You might want to check with your tradeline company first to see if they offer a guarantee for a replacement or your money back in case of non-posting. However, when it comes down to it, it is much better to have a successful post the first time around when you purchase your tradelines. The good thing is, there are a few things that you can do to ensure that your posting goes as smoothly as possible when…

Your credit score is one of the most important elements in your financial toolbelt. Whether you are applying for a car loan, apartment lease, mortgage, or credit card, having a good score is crucial. There is no doubt that your credit score can affect your life in many ways. Anyone who has had the experience of being denied something because of a poor credit score knows the motivation behind working to improve it. One of the best ways (besides tradelines) to improve your credit score is through the use of credit cards. Of course, you might be wondering when your…

A few of these hacks that we’re going to dive into today aren’t simply for improving your credit score, but every aspect of your financial life. If you’ve been struggling to get the financing you need to purchase expensive items, such as a car or a home, all because your credit score is low, then we might be able to help! Here at Boost Credit 101, we have all of the information that you need to potentially boost your credit score quickly! Here are the top three ways that you can kick start your positive credit journey today!   Get…

When you’re working to build your credit, learning new terms might be of interest to you. One question we get asked a lot here at Boost Credit 101 is, What are updated tradelines? Before we dive in and explore the term, let’s make sure you understand what a tradeline is. A tradeline is simply a credit account that is in your name or an account that you are an authorized user on. [caption id="attachment_2653" align="alignnone" width="413"] The major components of a credit history that affect your credit score the most[/caption] Updated Tradelines Whenever there is a change in a credit…

If you have a derogatory mark on your credit reports, such as a late payment or collections, your credit report can suffer some serious damage. One question that people often ask us here at Boost Credit 101 is: Am I able to remove derogatory items from my credit report, and if so, how? In this article, we’re going to explore the ways in which you can remove derogatory marks and get your credit score back on the positive side.   What Is a Derogatory Mark? When a mark is deemed “derogatory,” it means that it is a negative mark. Any…

When it comes to credit, you have two main types: Secured and Unsecured. When it comes to the risks that these pose for both lenders and consumers, the two are very different. Come with us as we explore the differences between secured credit and unsecured credit so that you can have a better understanding.   What Is Secured Credit? Secured credit is any form of credit that uses a physical asset as collateral. In this sense, if a consumer ends up defaulting on a loan that is secured, the lender can recoup the loss by taking the consumer’s asset that…

If you are looking to buy authorized user tradelines, it is important to know that there are many questions you need to be asking yourself. Of course, one of the most important questions that you should be asking is when trying to gain a better understanding of tradelines is: What Are the Credit Limits Of Authorized User Tradelines? In this article, we are going to go over that very question. Continue reading to learn more.   Buying Tradelines From Reputable Dealers When you purchase a tradeline from a reputable dealer, then you should expect that the tradelines are coming in…

One popular way to improve a bad credit situation is the use of tradelines. Of course, using tradelines effectively means knowing how tradelines can impact your credit score overall. Many people unfortunately make mistakes when it comes to purchasing tradelines. To help you avoid making those mistakes altogether, we will look at a few things you should keep in mind.   Not Checking Your Credit Report Lenders make decisions for you based on your credit score, which is a high-level number that determines your creditworthiness. Of course, if you don’t have any context, knowing what has made an impact on…