08 Dec 2021

How Do You Buy a Tradeline?

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 is, as tradelines become more and more popular, it is becoming increasingly rare for credit companies to dismiss tradelines altogether.

Pay For Delete Collections - Does It Work
Pay For Delete Collections – Does It Work

How Do You Get a Tradeline On Your Report?

Once you purchase a tradeline, you get added as an authorized user on another person’s credit card or line of credit. When you get your tradelines, the three major credit bureaus, including Experian, Equifax, and TransUnion, are notified. The credit bureaus will then make updates to your report to reflect this additional tradeline.

Getting a tradeline could take up to 90 days or it could happen fairly quickly. It is important to note that many financial institutions will send out credit updates every 45 days. Most people worry when they don’t see the tradelines they just purchased pop up on their report right away, which is why we stress the importance of mindfulness. You may have to wait a few weeks or months to see results for any specific credit-building application.

We recommend planning well in advance if your goal is to use a tradeline to purchase to apply for a mortgage or another large loan.


How Much Can A Tradeline Boost My Credit?

All credit reporting bureaus calculate scores with slight differences in their formulaic approaches. Essentially, determining how much a tradeline will boost your credit is next to impossible, as there is not a universal metric. Of course, there are a few factors to consider, which could alter the impact a tradeline has altogether.

You need to look at the tradeline’s available credit, whether there are regular payments being made on it, what the age of the tradeline is, and how much of the tradeline you are using.

When it comes down to it, there is no guarantee that a tradeline will have the impact you are looking for. What is important is that you work to remove any bad marks on your credit score prior to applying for a tradeline, as a tradeline is not made to put a band-aid on delinquencies. Rather, tradelines work to accentuate what is already there in a positive manner.

If you have any further questions about what tradelines can do for your credit score, make sure to get in touch with us here at Boost Credit 101. We look forward to helping you find financial freedom and stability in your life with the positive impact of a great credit score.-boost-your-credit-score