Customize your package by choosing from the following list of new and seasoned tradelines to boost your credit score.
2 - 5 years old
10-20 years old
10-30 years old
5 - 10 years old
10 - 15 years old
1 - 3 years old
The phrase a fool and his/her money is soon pardoned definitely applies to tradelines. Now, we aren’t saying you’re a fool if you get scammed, as there’s a lot of folks out there who sound like they know what they’re talking about, that promise the moon, take your money, and you either get nothing, or something not even close to what they said would happen. Maybe the company or person offering lines has a price that completely undercuts everyone else you’ve looked into, or maybe they offer the tradeline(s) for a very long period of time, a year even.
When it comes to anything money related, or life in general--if something sounds too good to be true, it usually is, but with any tradeline company, there are some basic minimums you should expect are met.
Any company that takes your money without having you sign a contract is obviously not a serious business. There are legalities, even in this wild west of finance, that need to be navigated. No contract means they are amateurs, and amateurs have a tendency to disappear and take your money, which leads to the second point. Do they have a website? Can you leave reviews? Anyone who will take your money and not be afraid of a bad internet review is not a legitimate company. It may not seem like much, but negative reviews will sink a company quickly, as it becomes clear they are not there to help customers, but only enrich themselves.
Do they verify your identity? Any company that sells tradelines that does not verify your identity means they are in business with people who are scammers themselves. Financial fraud is rampant in all parts of the financial industry, and any business or person who doesn’t verify you is, by definition, potentially in business with some shady folks.
Does the person(s) selling tradelines let you know exactly what you’re purchasing? Saying you’ll get a certain amount of points on your report by adding lines, or achieve a certain score, should raise red flags, because nobody but the Fair Isaac Corporation (FICO) knows how this data truly affects scores, and their algorithms are not public. Tradelines can give outstanding results, but they very similar to investing in the stock market, and what’s the one big thing all advisors say?...Past results are no guarantee of future returns. With tradelines you’re purchasing a chance to achieve your financial goals, but you should have a very, very clear idea of what it is you are getting. How long do the lines stay on, what kind of utilization do the lines have, what is the cost, how many bureaus are guaranteed, etc.
If even one of these four items is not covered by the seller of the tradelines, you may be risking paying money for things you don’t receive at all.