HOW DO TRADELINES WORK

HOW DO TRADELINES WORK

We use Authorized User tradelines to boost your score.
First, what is a tradeline? A tradeline is the industry term for any credit account that appears on your credit report. We evaluate your credit reports to see if tradelines will help; if so, we get your data, submit it to the lender (e.g. Chase, Bank of America, Discover, etc) and the lender reports the data to the credit bureaus. When this data posts, your score will experience a boost.

What makes tradelines so effective? Glad you asked.

First, have a look at how the 3 credit bureaus evaluate your score.

 

Tradelines provide positive data on three evaluation factors:

Payment History

Amount owed

Length of History

These factors comprise as much as 60% of your credit score. When we post an AU, you are benefiting from the age of the tradeline, the availability of the limit (always utilized under 10%), and the perfect payment history.

Looking at the credit scale is like looking at the grading scale back in school.
 

FICO Score ranges from 350 – 850, where 350 being the lowest credit score and 850 being the highest:

  • 350-579 – Poor – F Grade
  • 580-619 – Below Average – D Grade
  • 620-659 – Average -C Grade
  • 660-719 – Good – B Grade
  • 720-850 – Excellent – A Grade

Tradelines can help move you an entire grade, which could be the difference in getting an approval, or that next rate tier, saving you thousands over the course of the loan.

To achieve maximum results we recommend to start with a minimum of 2-3 tradelines per file with similar limits and age. Please click here to “Select Your Tradelines” or “Request A Callback below
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*Please note: our services start at $500 and require payment upfront.

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How Do Tradelines Work?

How do tradelines work? They work by utilizing several aspects of what contributes to your credit score. Those categories are: number of accounts, credit utilization, types of credit, payment history, and age of accounts. This is why tradelines are so effective, as they are counted in five out of the major components of gets you a great score. This is why putting a single tradeline on a report that has been cleaned, or is blank from never using credit, can shoot the score up hundreds of points, or if there is no score, generating one that is likely in the mid-upper 700’s.

What about the new algorithms for FICO, can you still use tradelines to boost credit score with these? Specifically, the FICO 8 model, which has been utilized since 2015–and is also the most widely used credit score algorithm in the industry? According to certain sources, FICO 8 lessens the impact of AU history. So, do tradelines still work? Yes they do. In our experience the FICO 8 model didn’t have much impact on how AU history affects the scores. We still see jumps of over two-hundred points at times. Also we will get questions about concerned customers claiming their bankers, loan officers, or lenders disqualify AU history on the reports, but there’s no actual way to do that. The score is what it is, and cannot be altered by individual institutions.

A quick note on the type of tradelines people acquire. Putting a tradeline on that was just opened will not do much for your credit, and will likely bring your score down–this is because your overall average is pulled down by the brand new account. But do seasoned tradelines work, those lines that have a minimum of 2 years of history (the older the better), yes they do.

With something so powerful that gives such incredible, quick results, you might be asking are tradelines legal? Yes, there is nothing illegal at all about adding tradelines, or paying to add tradelines, to your credit profile. That being said, we are not attorneys and anything we say should not be construed as legal advice. We do suggest further reading on the Equal Credit Opportunity Act of 1974 (ECOA). The Federal Reserve’s Reg B allows these practices to exist.

How to Get a Tradeline With the Best Company.

There are a lot of people offering tradelines, some professional types, and lots of random folks on the net in places like Craigslist, so how do you know you’re working with one of the best tradeline companies? The greatest indicator of how good a company is: how good is their customer service. Are they prompt in responding, can you get someone on the phone? These are the two best questions to ask when searching for the best seasoned tradeline company. In addition to this, can you see reviews for them online? When customers take the time to leave reviews you know they have had an impact on people’s lives. Do they take the time to explain how tradelines work, how their process works, and do they provide a contract?

We offer a legal contract that outlines our responsibility to fulfill the services you pay for. This electronic contract (for convenience) that clearly explains our services, pricing, cancellation policy, posting requirements, and other provisions. This is how you know you’re working with legitimate tradeline brokers. We hear stories of people spending a thousand dollars or more for tradelines that didn’t post and then were never able to speak to anyone or recover their funds.

Does the company place your funds into an escrow or trust account?

We place all payments for our services pending contract completion into an escrow account that has guaranteed coverage by our 60-day money-back refund policy.

Is the company registered with the National Association of Credit Services Organizations? While we don’t fall under credit repair organization we try to keep ourselves well informed and educated to keep up with new policies, law changes and trends in the credit industry as a whole. As of 2018 we are a proud member of NACSO.

The sad truth is that there are plenty of people in this area of the financial industry who are only out to take money. That is not how we do business. You will always be aware of what to expect, and if our guarantees are not met, you’ll be getting a refund or replacement tradelines. Do we consider ourselves the best tradeline company? We don’t like to use that title, but we certainly have many, many repeat customers because they trust us, and they trust us with their family members, their financial dreams. If you’re asking who sells the best authorized user tradelines,, one lender (e.g. Discover, US Bank, Barclays, etc) is not better than the other, though the way the lender takes data can change the consistency or types of posting (e.g. Wells Fargo does not take a social security number, so it usually requires extra action for a successful posting, and will rarely show on Equifax).

It is always better to go directly to a tradeline company, as its impossible to know when you’re talking to someone whether they are a middleman between you and a legitimate company. If that is the case, you may get the lines you want, but you’ll pay a higher premium. Approaching directly cuts down on human error, price hike-ups, and saves you money while increasing the chances of successful postings.

How to Add Tradelines to Your Credit Report

If you are looking to get tradelines to boost credit score, you may be asking, how do I add them? The good news is that you don’t have to worry about this. That is the mission of the tradeline company. At Boost Credit 101 we have full control over our inventory; we check utilization, past payment history, limit, and age, and monitor postings closely for each client. Authorize User tradelines are also good for another reason, since they are secondary ownership, you don’t have to worry about making sure the age makes sense. You could add a forty-year-old line to your credit even if you’re twenty. If you were getting a primary line, this would not work, as clearly you can’t have credit when you’re minus twenty years old.

When adding tradelines of credit, you want to be confident you can trust who you’re in business with. That way when you submit your data, which includes sensitive things like DOB, Social Security, name, and address, you will be able to trust that they are not doing anything beyond the scope of adding lines, also that they do their best to protect it. This way you can get a positive answer to “do tradelines work?” and look forward to that great boost without worrying about your identity being at risk.

How Credit Repair With Tradelines Works?

If you’re here, you probably know you can add tradelines to boost credit score, but how does this work in conjunction with credit repair? Credit repair is sometimes required before adding lines. The analogy we like is that you want to think of your credit as a hot air balloon. Tradelines are the hot air you shoot up into the balloon, and negatives are the weights on the balloon basket. If you shoot air into the balloon and have a lot of weights on, the balloon does not move. If you remove the weight (clear the negatives), then the hot air (tradelines) shoots the balloon (your credit) up. In that way, tradelines and credit repair go very well together, but repair is not always required.

How to Purchase Tradelines

If you’re trying to figure out how to purchase tradelines, we make it easy at Boost Credit 101. If you click “tradelines” at the top of the page, you can see our packages, where you can make a selection and order right from our site. You can pay with a credit/debit card, or send us your checking account data for 10% off the entire order.

We make it convenient to buy tradelines online, but we always recommend that you call us as placing the right ages on can be tricky, taking you in the wrong direction. All of our consultations are free of charge, and you will receive a road map and action plan to get you into a better credit situation. We have designed the site for convenience in order to give you a simple answer to where to buy tradelines.

If you are a credit professional, either selling tradelines, mortgage or loan officer, in lending, or a credit repair specialist, please contact us directly to inquire about setting up your own business as a reseller of our tradelines, which will allow you to access wholesale pricing. This option is available only to people familiar with tradeline usage. If you are unfamiliar with tradelines and try to sell them to other people it can lead to poor customer experience.