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 top 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.
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.