Do I Have to Break the Bank When I Buy Authorized User Tradelines?

 

Everyone is always looking for a great deal. There’s something really satisfying about not paying full price when all the other suckers do. Right? Discounts are the way to go, SALES, Black Friday, Cyber Monday, End of the Season, etc. If you’re trying to get tradelines for sale, the most important thing to know is your budget. How much are you willing to spend? What do you get if you say “Money is no object?” vs “I need to buy cheap tradelines.” 

 

Note: If you say “What’s your cheapest tradeline?” it’s a dead giveaway that you aren’t too concerned with actually getting your credit fixed.

 

Okay, so there’s a range of prices, but what are you getting at the extremes: expensive vs. cheap?

 

Cheap Tradelines

 

There’s a very famous capitalistic saying, “You get what you pay for.” Now, with tradelines, this is usually quite true. In a real-world scenario, if a person has a fair number of accounts: auto loans, mortgages, student loans, credit cards…that creates a lot of history. The more accounts you have, the harder it is to raise the average history (a major factor in your overall score). 

Let’s say we add our (currently) cheapest line:

 

A $2.5K TD Bank with 2 years 6 months

 

Example: 10 open accounts, average history 3.5 years.

For a little quick math, to show how the average is produced, we take 3.5 X 10 = 35.

There are 35 years of total history with all those open accounts added together. 

The average is figured by dividing that total number of years, with the number of accounts, which gives us 3.5 years.

 

So let’s take that TD Bank and add it to this profile. 35 + 2.6 = 37.6 total years now, then 37.6 ÷ 11 (now we need to add in the extra account) = 3.42

 

In this example, the TD Bank actually lowered the average history.

WE DO NOT WANT THAT

 

But…that doesn’t mean cheap tradelines for sale are never a good idea! 

 

If we take that same line, and put it on a blank profile, then the average history, usage, and payment history of that TD Bank becomes those categories. So: 

 

Average history: 2.6 years

Utilization: whatever is on the line, let’s say $5, so .002%

Payment History: Perfect

 

On a blank profile, this card will generate very good scores.

 

So, we see that you don’t always want to buy tradelines cheap, but there are great scenarios where they are warranted: blank credit profiles, profiles with very young average history, profiles with only a few new accounts, etc

 

Expensive Tradelines – Best Tradelines for Sale?

 

Just because a tradeline is very expensive, doesn’t mean it’s the best one for you

We get people asking all the time, “What is the line that will give me the best score?” 

If you put the most expensive line on, you will get the best results, but that doesn’t mean you need that line. Adding Authorized User Trade lines is not an exact science. 

That said, if you put the biggest history we have (currently a 42 year old line), then your history will be very impacted. 

 

If money really were no object, and your goal was BOOST CREDIT SCORE NOW! This line would be the best. But in most cases, it’s overkill. You only need an average history of 7 years to be in the excellent range.

 

Conclusion: Credit Tradelines For Sale = Unique Opportunity Dependent on Individual

 

Your credit report is as unique as you are. It’s your financial DNA. If you’ve been alive for a bit, you could probably look at your reports and smile (or grimace) at the memories it brings up. 

We always offer to look at your reports to tell you what is best for you. Will that mean tradelines for cheap

 

Sometimes

 

It also depends on how badly you want to get great credit. If you go the traditional routes, it may take a fair bit, 6 months to a year, or longer, to get those great scores. Authorized user accounts for sale give you that one thing no one can ever really sell you: time. 

 

If you need more than a single line, then your budget should be somewhere between $600-$1500. If you need just one, then you could be looking in the under $500 range. How much is getting what you want done, and quickly…worth to you? 

 

Do I Need Tradelines to Get an 800 Credit Score?

 

Everyone wants an 800 score. We get calls every day with people saying they want to be at 800.

We always try to be polite.

But the truth is, 800 credit scores are for people who pay their credit perfectly, for a long time (think years), on all the various types–revolving (credit cards, HELOCs, installment (student loans, mortgage, auto loans, etc)–and they likely have a lot of those types. 

But…here’s some good news, you won’t get any better rates at 800 than you will at 760. 760 is considered an elite score, and once you reach it, you get no benefit from going beyond it.

This is like in the movie “Armageddon”–Bruce Willis, Ben Affleck…very cheesy, but very entertaining–where a crew of oil drillers and astronauts must dig to 800 feet in order to detonate a bomb to blow up a giant asteroid hurtling toward Earth. They need to get to 800, but anything beyond is unnecessary. 

Think of your credit as that 800 feet mark, but, you only need to reach 760.

So, for that 760, do you need to add tradelines

And the answer is…maybe.

 

Who Should Buy Authorized User Tradelines?

 

Everyone. Okay just kidding. 

Here is who should not buy them: anyone with excessive negative marks (collections, chargeoffs, etc), huge amounts of inquiries, overutilized cards, loans/lines with very recent missed payments, or currently late accounts.

Do any of these apply to you? Then you should not buy authorized user trade lines

The good news: most of these are fixable. If you’re late on anything, get current. 

That should be your NUMBER ONE priority. 

Negatives can be cleaned–and we highly recommend going the professional route for this, as paying off a collection usually means it stays on there, paid, but still there, like an unsightly scar. It’s healed, but it looks funky (and does affect your credit).

Adding au tradelines has taken on this mythical role of automatically boosting scores by 100-150 or more points. It doesn’t work like that. 

 

How Does Adding Authorized User Trade Lines Help Your Score?

 

There are all kinds of graphs, sites, and blogs dedicated to how your FICO score is calculated, but in actuality we only have a vague clue. FICO algorithms are like that BBQ sauce you love. You can likely pick out most of the ingredients, but there are things in there the chef will never reveal. 

Where do you think the term “secret sauce” comes from?

FICO is the secret sauce of the credit industry.

 

That said, here’s a brief breakdown:

Payment History: 35%

Revolving Utilization: 30%

Credit Age: 15%

New Activity (inquiries): 15%

Credit Mix: 10%

 

If you’re thinking of buying authorized user tradelines, this is where you want to pay attention. Those first two categories make up 65%, nearly s of your score. That is mainly related to credit cards–if you’re late on your auto loan or mortgage then you have other issues needing addressed–and credit card data is exactly what you get when you buy au tradelines

The people who should buy this data are those looking to start building their credit (new/wiped profiles), and people with none of the major issues affecting their credit who need a boost. 

 

Where Can You Find These Authorized User Accounts for Sale?

 

Right here. That’s why you’re here isn’t it? Or maybe you got linked to this article because it is so amazing. Either way, right here. You do not want to go looking Craigslist for personal tradelines for sale

 

You want to find a reputable company. What makes us/them reputable? 

They have the ability to leave reviews. 

They have contracts. 

They keep your money in an escrow account until the contract is completed. 

They let you know what is guaranteed.

They don’t promise the moon.

 

This last one is important. You may find people or “companies” that offer tradelines under $100. But that should raise all kinds of red flags. You might find someone who knows someone who will add you to their credit cards, but companies do not charge these kinds of prices. 

There are commissions, advertising, website fees…all the costs of a business. Anyone offering an authorized user for sale for that cheap is a scammer unless you know otherwise. 

How to Find the Best Tradeline Companies

 

Recently we did an article talking about a major credit repair firm and how their whole operation was slapped with an injunction by the FTC. Needless to say, that company is not among the kind of companies you want to work with. If you want to piggyback off of someone else’s credit, you can either find someone who has a great card or pays a company to place you on one. We’ll get into what makes a great tradeline company in a bit, but first, what do you need to know to find a good tradeline if you do find a good company?

Why Buy Seasoned Tradelines?

Tradelines–in the case of Boost Credit 101 (and most tradeline companies)–mean Authorized User spots for sale on revolving credit cards. There are six main categories that make up your credit: revolving utilization, total accounts, payment history, the average age of total credit, derogatory marks, and inquiries. 

The last two are things that take away from your scores. 

The first four all help, and all four are affected by adding tradelines. This is why we see jumps of 100-150 points (and sometimes more). But how long do you get them, is it even worth it?

How long do tradelines stay on your credit?

Every company is different, but the lines will stay on for at least one cycle, which is 25-31 days. All of our tradelines are a minimum of 2 cycles, which is 45-60 days, and we also have lines that stay on for 3 and 4 cycles. If you are doing a mortgage, these longer-cycle lines are ideal, as mortgage loans can take several months. 

If you’re looking to get something like credit cards, auto loans, personal loans, or business loans, these things don’t take quite as long, but in our experience, things usually take a bit longer than expected–maybe you have some things you need to be removed, maybe you need to add another line, or pay off some of your existing balances–and that’s why we have 2-cycle-minimum lines. 

How to Add Tradelines to Your Credit

We get this question frequently, “Do I need to do anything to get the line to post?” Usually, our answer is, nope. A good company will explain everything upfront. All you have to do when you make a purchase is: pick your line (ask us, we can always tell what is best for you), sign a contract, and make a payment. Once that is done, we notify the cardholder of your order, provide your information, the cardholder adds you as an Authorized User, and the lender submits the data to the credit bureaus. If you do things right, you can experience incredible boosts to your scores. 

The other question we get is, how can I make the payment, do I check out on the website, is it like Amazon? 

How to Purchase a Tradeline

We do have a check-out feature on the site, but usually, we want to speak to customers before they do. We live in a world where convenience is king…the problem with this is that most times people don’t fully understand what they are buying.

This is okay, as credit itself isn’t exactly a bowl full of Fruit Loops–or whatever it is that you can imagine that’s amazing that goes into a bowl (but Fruit Loops are pretty awesome)–and we don’t get educated on this very important thing by anything but our own ambition. 

We ask that you please call us if you have any questions at all. We actually like looking at credit reports. For us, it’s a bit like fishing, every time we open a new report, we see something new, some new issue or problem we get to try and help fix/assist.

Conclusion

You won’t find anyone on the streets shouting “Tradelines for Sale 2019”. And if you did, would you trust them at all? That person would probably be locked up for mental evaluation at the least. The best tradeline companies are online (NOT Craigslist), and will fully disclose what you are buying, what you are guaranteed. They will have contracts, the ability to leave reviews online, and they will hold your money in escrow until contractual completion. If you are talking to a company that has all these things, by all means proceed, but watch out if they offer tradelines for $50 or some bottom of the barrel price. 

Those kinds of prices are the definite signifier of a scam. 

 

Can You Add Tradelines to Your Credit Report Yourself?

 

Tradelines, those magical things that can turn your lowdown, slimy frog of a credit score into a princely number worthy of the best rates on whatever it is you would want to get lending on. But how do you get them? Are you trying to find out how to add tradelines to your credit report yourself, or are you well in your search and believe you must pay to add tradelines to your report? First off, can you add them yourself? Not really, not unless you get approved for cards in your name. That is the only way you can add them yourself. If you have a friend or a relative or a spouse who has a credit card, can they add you? Yes, they can, but you want to be very careful with this. Most people with credit cards use them fairly frequently, so you run the risk at any time of that tradeline being overutilized, which can drop your credit faster than a torpedo impacting on a submarine at depth, and if there is a single missed payment on that card? Same thing. Is it brand new? For example:

 

Same thing. New accounts lessen your average history, the lower your average history, the lower your scores. If you only have a few accounts open, then you’re back being the aforementioned submarine and its torpedo nemesis.

 

But, we have good news, we can tell you how to add tradelines to your credit report. And that is to get with a company you can trust that has contracts in place with people who rent out their credit history. Because let’s face it, can you trust your friends, your family, your spouse? Sure, we hope so at least, but even people we trust and love make mistakes, and those mistakes can cost us. What is more trustworthy is people who handle business, and nobody is more motivated to keep things straight than people who get paid for it. We cover this all the time, but companies with tradelines for sale are really the best way to add data to your report that doesn’t actually belong to you, but which kind of tradelines should you add? Some companies have primary lines, with mortgage tradelines, auto tradelines for sale, things like that, but those companies are engaging in fraud. It is not legal to take someone else’s debt and say that it belongs to you.

 

The only legal way to add credit to your report is with authorized user tradelines. These are the tradelines we utilize and have had success with for over five years now. We have customers that have gotten mortgages, bought cars, achieved high limit credit credit cards on their first applications. Are these results rare? They are not. If you have a solid game plan with tradelines you can achieve similar results, and having a solid game plan starts with realizing what it is exactly that tradelines can do.

 

When you apply for credit there are two factors: your credit score, and your income. If you have a perfect 800 score but make $10,000 a year, you likely won’t be buying a home or a car any time soon. If you make $95,000 a year but have a 450 credit score across all three bureaus, you won’t be getting any approvals either. The income part is up to you, but the credit part we can help with.

 

The first thing to do is to prepare your reports for the tradelines. Have you ever seen an Olympic runner before a race? What are they doing? Are they sitting still drinking milk and eating cookies? No, they are stretching, they are warming up. Preparation is a huge part of doing anything right, and so must your reports be prepared for the tradelines. This means cleaning the negatives off, and when that is done, the reports are ready for tradelines to be added. Once the tradelines go on, your scores will rocket up if you’ve done everything right. We see jumps of over 150 points at times. Are those common? Perhaps not exceptionally so, but the lower the scores, the more room they have to jump.

Anything above a 760 does not matter for getting the best rates.

 

These are scores that everyone would want, but unless you want to brag to your friends at the bar, or you are trying to boast to that girl or boy you’re trying to impress, above 760 won’t be anything but bragging rights. And…just in case you’re wondering how to get that score, because we get people who tell us they want an 800 (or better) score all the time, you get it by paying multiple different types of credit perfectly for years and years, and years. So, if you aren’t on that path, best to start out now.

Jimbo: A Case Study (Ways to raise credit score)

 

Meet Jimbo, he’s seventeen, a highschool senior, runs track, likes Netflix and video games and girls, a typical young man about to enter adulthood. Fall semester he applied to several colleges, some in state, some out. He wants to study anthropology. 

On his eighteenth birthday, his dad, who has an average credit of 700, adds Jimbo to his Cabela’s Capital One as an Authorised User, in essence offering a piggybacking credit card to help his son jumpstart his credit, saying “Jimbo, my good son, credit is important in this world. Protect it, it is your financial reputation.”

Jimbo’s dad doesn’t really know how credit works, but that’s alright, he knows the most important thing: Never miss a payment on your credit card, or any other outstanding loan.

Unfortunately, Jimbo’s dad is missing the second most important thing when it comes to credit cards: Always pay your monthly balance off so as to avoid interest charges. 

–The Cabela’s Cap One has a utilization of 65%

With a piggyback service, Jimbo may have had an 800 credit score, but with only one thing on his credit, his score was 670, not terrible, but not stellar either. 

 

Jimbo goes to college at UMass, drinks a lot, joins a fraternity, flirts with cheerleaders, all in the first month of his freshman year. At an event for the Business School, he meets a well-dressed man who offers him a student credit card. He asks, “Does getting a credit card improve credit score?” The man responds in the affirmative. Yes, his score will be improved. Well hell, Jimbo figures, sure, why not, get the $100 bonus this guy keeps talking about. 

 

He is approved, thus adding another credit trade line to his reports. 

He thinks he should maybe ask his dad about the whole thing, but nah, he’s an adult now. He works at a sandwich counter at a local deli. He can afford it. $100 buys a fair bit of beer, now just need to find someone of legal age to buy it–that’s what fraternity brothers are for!

He gets the card, and he starts to spend. He spends and spends. Every time he swipes he marvels, it doesn’t even feel like spending real money! He makes a payment, then another, but just the minimum, since that’s all that’s due. A few months go by, the payments creep up, and up. Then he sees the balance. $4,000. What!? He can’t pay that. He calls the company: “Will canceling a credit card hurt my credit score?”

The rep says she doesn’t know. The question takes too many things into account that she isn’t aware of. 

“Whatever, just cancel it.”

The rep does.

Phew, glad it’s over, Jimbo puts the phone down and heads to the homecoming football game. 

He gets some letters. He throws them away. Eventually the letters stop. 

Then the calls start. 

How’d they get the number?! Jimbo ignores them too. 

They stop, though he gets one or two every month or so. 

Now Jimbo is graduating. He gets a job. He needs a credit card. He looks at his score.

He has a drink.

He searches credit card offers for poor credit score.

There aren’t many.

 

He starts researching, he has that one nasty collection, but that’s about it besides his dad’s card, now consistently at under 10% utilization (go dad), and thinks…“I need to raise my credit score 100 points.” 

But…how to do that. He starts to realize through his reading, that credit is made up of all kinds of things, he never knew! If your score is bad, you probably need to remove negative items (he does), and add positive data. He searches “How many points will my credit score increase when collection accounts are removed from report?”

He finds nothing conclusive, but engages a credit repair service. He has things to buy for his new apartment, and his paychecks don’t cover what he needs. He asks the repair service how long, the rep says a few months. Jimbo says “Dude! I need you to raise my credit score fast!” 

The rep says okay, two months.

Jimbo gets the collection removed. His score sits at a 740. He applies for a new card.

He is approved. 

When is It a Bad Idea to Add Seasoned Trade Lines? 

 

Tradelines are a miracle. They do things that nothing else can. If tradelines were winches, they could raise the Titanic. That might sound like hyperbole, but where else can you find a literal answer to “how can I raise my credit score 100 points?” We’ve seen tradelines raise a score 50 points. We’ve seen 100, 150. If you want to get technical, we’ve seen tradelines raise a score 750 points, though the reports started as blank–but still, NA (or 0) to 750, is a 750 point raise. 

That said, if you add credit lines, the results are not entirely predictable. In that way tradelines are a bit like investing. Remember that famous catch phrase? 

Past performance is not indicative of future results.

Just because you buy an old tradeline, the same one as the customer who got 150 point raise, doesn’t mean you’ll get the same results. And, to be completely honest, there are times when you should not buy a tradeline. So when would that be?

Can I Improve My Credit Score?

 

The good news is that yes, you can always improve your credit score, but whether that happens quickly or not will depend on what’s on your reports. If you want to add a tradeline to boost your scores, you’ll first want to ask yourself if you have any of these things:

Late Payments: The fastest way to torpedo your credit is by missing a payment on an outstanding loan (credit card, mortgage, student, auto, etc). If you are currently late on something, or if you have very recent missed payments, tradelines will have minimal (if any) effect. 

At Boost Credit 101, it is our policy that we don’t add tradelines to reports that have missed payments in the last 6 months. There are exceptions to this, but those are special cases.

High utilization on credit cards: If you’re looking into seasoned credit lines for sale, and you have large balances on your cards, then tradelines will not do much. Even having one maxed out credit card can drop you 100 points or more. Always try to keep cards below the 30% mark, and below 10% is even better. 

Of course, if you’re paying the balance off then it doesn’t really matter. Even if you have excessive utilization of open trades in last 12 months, it makes no difference as long as you didn’t miss any payments. Past utilization has no bearing on current scores as long as the utilization is under control now.

These are the two things that will straight up negate most, if not all, benefits of purchasing tradelines

Without These Issues, How Soon Does Your Credit Score Improve with Tradelines?

–Advice on Credit Repair

In a very general sense, if you add tradelines, the score should improve in two weeks. At Boost Credit 101 our contract states that we have 60 days to place a tradeline–though it never takes that long. But are there other things that should give you pause before purchasing? Yes.

Do you have excessive negative marks? These marks can be: chargeoffs, collections, public records, Bankruptcies. If you have many of these, even adding premium trade lines with large limits and long histories won’t do much. 

But, good news, a good credit repair specialist can remove these, and you won’t even have to look into how to change your credit score illegally

If you’re wondering what that even looks like–there are people out there with illegal software who can remove negative marks. Our advice would be to not engage their services.

A good credit repair person/company shouldn’t take longer than 45-60 days.

A good indicator of a company you don’t want to deal with is them charging a monthly fee. These companies have a business model that puts a premium on taking longer, so they can charge you more fees.

Conclusion: If you have very recent late payments or highly utilized cards, here is our advice–let some time go by so you can get some good payment history. And if overutilization is the issue, it is better to pay down the cards than pay money to add a tradeline. Overall utilization is one thing tradelines help with, but having even one card maxed out will deep-six your credit. 

 

How Does Credit Piggybacking Work With Mortgages?

 

Ah, purchasing a mortgage, that bastion of financial success, the flashing sign that you’ve made it, the smartest way to spend money, and the best way to build wealth. 

Is this still true? 

In times past Real Estate was the smartest way to use your money, because, like the stock market, housing values (while experiencing minor dips occasionally, usually went up over time), but then 2008 happened. Prior to that year, hedge funds and other financial institutions [cough big banks] created mortgage-backed securities, and insurance companies covered them with credit default swaps. High demand for this rock-solid can’t-fail securities led to an asset bubble, then the bubble popped. Markets recovered, banks got bailed out, but people still lost trillions of wealth. 

So are mortgages still a good thing to buy?

Of course! People need places to live. That’s never going to change. But…your credit, you need help, so can adding tradelines get you approved for a mortgage? Let’s get into the nitty-gritty first.

What Credit Score Do Mortgage Companies Use?

 

FICO. That’s it. So if you have a login to Equifax or Credit Karma, you’re getting a general idea of what your scores are, but an Experian login (usually), is more accurate since FICO is the Experian scoring model. But you won’t know for sure what your scores are until a lender pulls your reports. This is an inquiry, so it’s best to go in confident that you can get an approval as inquiries/hard pulls do affect your credit. Do you need anything special on your report to get approved for a mortgage? As in, should you purchase a mortgage tradeline to show on your report to ensure an approval?

Do Buying Mortgage Tradelines Help Get a Mortgage?

 

We get this question sometimes, though usually with auto loans. Some lenders think credit reports are like resumes (in some ways they actually are), in that you need to have a job experience to get a particular job in that sector, and you may find companies that offer mortgage tradelines for sale. These are primary tradelines, and they aren’t legal. You do not need to have a mortgage tradeline, or a legitimate mortgage, to purchase a first (or another) mortgage. So, now that’s cleared up. But…you’re here, so we’re going to assume you’re trying to find out what it takes to get a mortgage with sub-stellar credit. So, does that mean you should google mortgage companies that accept low credit scores

Not really, unless you are in some kind of rush, which most people are, but trust us, this is one time, maybe the most important time in your life, where being in a rush isn’t the best idea. So before you start looking for the best mortgage companies for low credit scores, we recommend clicking on this calculator and playing around with some numbers. 

Let’s take a 200k mortgage at 5.75%, which is approximately what you would get with a score of 580-640, monthly payment: $1,135.58

Let’s switch that to 3.75% (the best rate available right now), monthly payment: $926.23.

These are rough numbers, and rates change all the time, but even in this basic example, having an excellent credit score (760+) would mean $209/month difference.

Well, that’s not that much, right? Wrong, that’s $75,240 you’ll pay extra over the course of that loan. So if you’re googling “mortgage with 550 credit score,” stop, as the minimum across the board is 580, and you don’t want to flush 75 grand down the toilet do you? But, you are ready to look into buying a mortgage, but your credit sucks. 

How to Raise Credit Score in 30 Days

 

If you’ve got 30 days (or hopefully 45-60 days or longer), we can likely get you into a position where you can get approvals. But just getting approvals shouldn’t be your goal. Your goal should be to get the best possible rate so you can save money through the course of that mortgage loan. 

In 30 days, you most certainly can get your scores up by adding tradelines, but removing the negatives also needs to happen if you want the best rates, and that may take slightly longer. And, lastly, for the question we sometimes get. Does having a mortgage help your credit score? A mortgage, ultimately, is just another tradeline. It has no more weight than any other installment loan (student, auto, etc), but, as some smart financial writers have said, most things you buy are liabilities, meaning they lose money over time (like cars), but a home or condo purchase is an asset, as it accrues value, and buying a mortgage is still the smartest thing to do with your money. 

If you are looking to buy tradelines then stop your search here. We offer Seasoned Tradelines at lower pricing than any of our competition.

 

Requiem: Is Credit Piggybacking a Scam?

 

Recently, a credit repair and tradeline company was shut down by the FTC. According to the FTC’s complaint, the owners scammed people out of $6.2 million dollars over the course of their operations since 2014. If you want the details, the press release is here. This company had several websites where they claimed to be able to boost credit by removing negatives and inquiries, then adding tradelines afterwards to shoot the score up even more. 

So what happened? Does this mean that all companies, even the “best tradeline companies” are out to take your money and give nothing in return? No. This company, who used several different websites and shady practices, was out to make a profit by selling false promises while utilizing illegal business practices. 

Let’s break down what happened.

 

First: Selling Tradelines is Not Illegal

There is nothing illegal about paying someone or a company to be added as an authorized user on someone else’s credit card. In essence you are renting data that helps give you a credit boost. While you are an AU, you have a window to attempt to achieve your financial goals, which likely involve some type of lending, be it mortgage, auto, business, personal loans, or credit cards. 

 

Second: Credit Card Piggybacking is Not An Exact Science

One of the things this now-defunct company did was promise certain scores within a certain amount of time. They took advantage of people’s needs by playing into a fantasy.

Everyone is looking for certainty. If we spend money we want to be sure we get the results we want, but adding tradelines is not a guaranteed better score.

 Anyone who uses the words “promise” and “guarantee” when it comes to your credit score is trying to scam you, because they, us, and anyone who isn’t, the Fair Isaac Corporation cannot know how your scores will be affected. Do we have an idea? Yes, we wouldn’t have tradelines for sale if there was no benefit. This niche industry wouldn’t exist if it didn’t work, but you must be careful to understand what is guaranteed. The line posting on 2 of the 3 bureaus, the line having low utilization (below 10%), the line having perfect payment history–these are legitimate guarantees because we can control these things. Even the best tradelines are worthless if any of the three categories are violated on the tradeline.

 

Third: Tradelines for Credit Repair Have Some Strict Laws

When engaging with someone professional in any type of credit repair: removing negatives, or adding seasoned credit tradelines, the law states that the company or person cannot take possession of the funds paid until the job is complete. This means that it is illegal for someone to say they will clean your credit, take money, and spend it. The funds must be held in an escrow account until the job is completed. 

 

Fourth: Buying Tradelines Does Require Some Common Sense

One of the things this company did was threaten legal action against anyone who publicly complained about their lack or results, due to “anti-disparagement and anti-chargeback contract clauses” they put in their contracts. So, this company had seasoned tradelines for sale, and they said if you didn’t get the results you wanted, and you complained, they would sue you. That should make just about anyone wary of signing on the dotted line. If you’re getting trade line credit added to your report, you should have a good idea of what happens, you should not be surprised and upset after they post. This goes back to being careful about what you are paying for. Plenty of people in business will promise you the moon and disappear. 

 

Conclusion

If you click on the press release link and see the companies involved in the FTC lawsuit, you can google their names and see their reviews. 

There are plenty of bad ones. 

As we said earlier, buying tradelines to boost credit score profiles is not a highly precise endeavor, but when reading the reviews of this company and their services online, you can see they were scamming people. 

This is why online reviews are so important. If you are buying tradelines, how are the reviews? 

The bottom line with this company is: they weren’t out to help people, and it was because so many customers complained (rightfully) that this company is no longer in business. 

What are the Best Lenders for Credit Card Piggybacking?

 

Part 1

The most constant thing in the world is change. Sometimes drastic–think major life events, natural disasters, etc…and sometimes subtle and slow–think erosion, paint drying, etc. Credit is one of those things that change gradually over time, hopefully a slow steady rise to elite territory (760+) and staying there…but credit can also drop drastically if you miss a payment on your credit card, mortgage, etc. 

You can get your credit to jump quickly, with tradelines, which are credit cards that report authorized users. Perhaps you’ve heard of them. “Piggybacking” is the official term, as you are using someone else’s account to benefit your FICO scores. They add you as an authorized user, their payment history and limit (and utilization) get reported on your bureaus. But if you’re going to become an authorized user on someone else’s card, how do you know what lender to pick, does it matter, should you care? 

Let’s put it this way, tradelines can be expensive, over a thousand dollars in some cases, and sometimes far over that, so if you pay for an authorized user spot on someone else’s card, and you’re going to spend hundreds if not thousands of dollars, you would probably want to know what you’re paying for, right?

That little aside…aside, if a seasoned credit line posts to 2/3 bureaus we consider that a success, and the lender doesn’t really matter that much, as long as it posts, but there are subtleties to different lenders, and we can break a few of those down and give them our very best qualified “NAY” or “YAY”! 

 

Does Discover Report Authorized Users?

In a testament to how things change, when Boost Credit 101 started, Discover was considered a third-tier tradeline. They mostly didn’t post to three bureaus, and sometimes not even two. Now Discover is one of the best, though they do require images of the AU’s driver’s license and SS card (a W2 works in place of the SS card image). They post to 3 bureaus the most consistently. They are an upper-level bank, with slick advertising, that requires excellent credit to be approved for.

Discover: YAY! 

 

 Does Capital One Report Authorized Users to Credit Bureaus?

Ah Capital One, those savvy marketers with Samuel L. Jackson played by Nick Fury asking “What’s in your wallet?” all the time. Capital One is the one major lender that has cards for approval across the widest ranges in credit score. Their Quicksilver requires “good” credit, and perhaps even the upper levels of “fair” (669 and down). They post consistently to all three bureaus. 

Capital One: YAY! 

 

Does American Express Report Authorized Users to Credit Bureaus?

American Express, the cadillac of credit cards. They have the most advanced

systems, the best customer service, and the unicorn of all tradelines: the Black card. You can’t even apply. You must be invited. 

A year ago AmEx paired up with GQ for a sort of mini-documentary (more commercial) showing two well-dressed men eating and drinking in the most luxe Sydney establishments before flying to Los Angeles–one of the fellas even had an espresso martini. So you’d think that AmEx would be great for getting AU history, but they aren’t. They post fine to all three bureaus, but they don’t report their history.

One of the most valuable things about tradelines is that a 20 year old card goes on your report and affects your credit like it has been there since it opened, thus giving you 20 years added to your average history. 

Since AmEx doesn’t report history, they are all but worthless as tradelines unless you just turned 18. 

American Express: NAY (but you should get an approval for one when your score is good to excellent)

 

Does Merrick Bank Report Authorized Users?

Who knows? We’ve never heard of them, never seen them offered as tradelines. 

Merrick: NAY

 

Does Citibank Report Authorized Users?

Citibank is a conundrum. They do report AU history, but their systems are in dire need of upgrade, because either their software isn’t up to snuff or the human component of their customer service makes mistakes. They are the lines that require a bit of extra work to get posted, if they post. By this we mean a soft pull, where you put the address of the tradeline into an experian-powered login as your own and order the 3 reports. A great bank to do business with it seems. They have the largest variety of credit cards available. 

 

Citibank: Toss Up

Tariffs! How Can Buying Credit Tradelines Help With the Coming Recession?

 

Fifteen years ago on December 26th, a giant tsunami flattened the islands of Nicobar and Andaman in the Bay of Bengal. The causal earthquake was the 3rd biggest ever recorded. It was the deadliest tsunami in history, killing 230,000 people across 14 countries. But a week or so after the tsunami, members of the ancient Jarawa tribe on Nicobar made contact with the local government, informing that all 250 members of their tribe had survived. They would not say how they survived, but anthropologists postulated the tribe’s knowledge of movement regarding the wind, sea, and birds. What does this have to do with buying an au tradeline, or any tradeline, or tradelines at all?

When an economic downturn happens, that is when you want to have all emergency avenues in place. We are not equating the horrifying destructiveness of 2004’s tsunami with a recession, but depending on how bad it is, you could find yourself in dire straits if you don’t have access to credit. But let’s back up a second. What even is a tradeline?

What is a Trade Line?

 

If you are not savvy about your credit, you will want to get a login to creditkarma.com. This site is free, provides Trans Union and Equifax, and updates every 7 days. Everyone should have a login.
But, if you look at your reports, in any capacity, anything that reports to the credit bureaus is a “tradeline.” This includes student loans, credit cards, mortgages, auto loans, etc. When we talk about trade lines for purchase, we mean authorized user tradelines. Most credit cards offer AU spots. The banks love AUs, it means more possibility of racking up charges, and thus, interest payments. But for our purposes, we rent AU data, which causes scores to rise. If you add a tradeline, several credit factors are affected: total accounts, utilization, payment history, and length of history.
This is why they are so valuable, and at times, expensive, because they can jump your score a hundred points, and sometimes well over that. Being so valuable, who can sell them?

Who Has the Authority to Sell a Tradeline?

 

Anyone. Anyone can sell a tradeline. It is not a regulated area of the financial industry. Many parents add their kids on their credit cards once their kids reach 18. This is the same thing as adding a tradeline onto a report, being added as an AU onto a credit card. Most of the time you will buy seasoned tradelines online unless you have a friend or relative willing to add you. But even then you want to be cautious:

We see people with spouse’s/friends’/relatives’ cards on their reports that are maxed out, missing payments, brand new, etc

All of these scenarios will be detrimental to your scores. So where do you get them?

Where is the Best Place to Buy Tradelines?

 

As previously mentioned, you’ll likely be buying them online. You want to make sure you are purchasing from a reputable seller. One who has contracts, online reviews, and transparent guarantees so you know what you are purchasing. If you are wondering how to add tradelines to your credit, then the best idea is to consult a professional.
Every person’s situation is different, but if you are in a position where you have poor credit, no credit cards, and are living paycheck to paycheck (even if you make good money), it is always good to be prepared for an emergency. With bad credit, if a major recession hits and you have to pay for things without an income, a credit card is one of the only ways.
We certainly don’t advise it, but if it’s an emergency, you will be glad you have the ability. If you are in a position that is not an emergency, and you’re wondering how long does it take for trade lines to post, it can be quick, even as fast as 7 days, though an average is 2 weeks.

We don’t like to engage in Chicken Little “sky is falling” talk, but right now, the Chinese are devaluing their own currency to mitigate the trade war tariffs. The U.S. cannot do that. There are many other factors at place in the economy, but a recession will hit eventually. That is the nature of our boom/bust economy. The 2004 earthquake caused the earth to vibrate up to 1 centimeter, which doesn’t seem like much, but obviously the results were disastrous. An economic downturn has many small factors that lead to big crashes. Are your accounts ready? Is your credit ready? Unlike the Jarawa predicting the tsunami, no one has the ability to predict the market, or a crash. If your credit is not good, you will want to talk to us. We have some of the lowest priced seasoned tradelines.