This is a common question for us.
Do our products help the person on the other end of the line?
In 9 cases out of 10, our tradelines will provide a boost.
Note: people with currently late accounts are the exception.
If you are looking to purchase a tradeline, the best thing you can do is to inform yourself of what it is they do, how they can help out with your specific situation.
Since every situation is different, we have to speak in generalities for the purposes of this article, so this post is like looking up medical advice on Google or Mayo Clinic, though a doctor can get specific to your case.
First off, let’s define what a “tradeline” is.
What are Tradelines On a Credit Report?
Anything that is on your credit report is a tradeline.
If it’s reporting on your bureaus, it is a tradeline.
But, more specifically: credit cards, mortgages, auto loans, student loans, personal loans, etc…any debt that you are paying on is a tradeline.
Most tradelines for sale are Authorized User trade lines, which are credit card tradelines. There are other tradelines called “primaries,” where you pay someone to put debt, in your name, onto your report, but they are not legal.
Example: Let’s say you find someone who will sell you a primary tradeline, maybe…a jewelry store (or someone who has access to a jewelry store owner), and they put a loan for a purchase on your report, but you didn’t actually purchase any jewelry.
This is falsifying credit data, and is highly illegal.
How Do Tradelines Improve Credit Score?
Do you monitor your credit? You should. If you don’t, why not? Is looking at your credit report something that scares you?
Most boogeymen arrive in the mail, snail or email, once we grow up. Bills, etc.
The first step in addressing a problem is knowing what’s wrong. Credit reports are not boogeymen, but they can be scary, better to shine a light on them, like looking under the bed, and the more you know and look, the less scary they are.
If you do monitor your credit, you likely have a login to a site like Credit Karma.
Most sites will give you a breakdown of what comprises your credit score. And here we’ll show how tradelines are the best way to raise your credit score.
There are six main categories for credit: payment history, credit card utilization, credit age, total accounts, inquiries, and derogatory marks. The last two are things that can only hurt you, not help. When you buy authorized user tradelines, the 4 categories of your credit that help you are boosted.
In another article we can break down the amount each category affects, but for simplicity’s sake, you now know that 4/6 categories that comprise your credit…tradelines help with.
Note: we see people all the time who have gotten friends or relatives to add them to their credit cards because they think getting that AU history will help, but in most cases it does not because of missed payments, overutilization, or being too young.
If you know someone with good lines, you can go to them, but it’s likely you’ll be looking to purchase au tradelines online.
What are the Best Tradelines?
Everyone seems to want the lines with the big giant limit, but usually that is not necessary. The best lines are the ones that fit your particular situation best. Do you have a few open accounts and your average history is around the 2 to 3 year mark? The best lines for you are going to be the ones that add the most history to your average.
That’s how you experience a good credit score raise.
Perhaps you are looking to get approved for a large limit credit card, a larger limit tradeline may help with that. We don’t guarantee it, but we see large(r) limits approved all the time.
The best part about getting approved for your own good credit cards is that…you are essentially learning how to build your own tradelines.
If you get approved with a good lender, say Discover, or Capital One, and you have a decent limit, then, with time, you may be approaching us and asking for a commission schedule.
We have cardholders with so many cards they don’t know what to do with them, might as well get paid.