What Are Tradelines?
A tradeline is an account that appears on your credit file. These lines of credit record a consumer’s account status and activity including mortgages, car loans, student loans (government loan) and credit cards. Tradeline record information that includes the names of companies where the creditor has accounts, dates accounts were opened, credit limits, account types, outstanding balances, and payment histories. Tradelines are how the credit bureaus project your score based on how you manage these tradelines along with the history and limits for each tradeline. Your credit score depends entirely on how you maintain your credit lines which is the key to financial success.
CAN A TRADELINE BOOST MY CREDIT SCORE
A tradeline will boast your score depending on what kind of tradeline you are adding to your file. You can add a tradeline to your file by opening a credit card or getting a loan which is called a primary tradeline that must keep them in good standing by always making payments on time. This is a way to build your credit file organically although the credit building process takes longer because you will have to start with lower balances limits due to limited credit history. If you are trying to boost your score immediately because you need to get approved for a loan, mortgage, car, or even rent an apartment or home you can utilize authorized user tradelines.
An authorized user tradeline is an account in which you are listed as an authorized user meaning you are not liable for any charges on the account. Typically, parents will add their children as authorized users of their credit cards so that they can receive a credit in their name to immediately show years of history associated with the account that helps to establish and build credit. If you are using family members’ credit it must be in good standing or it will affect your credit negatively.
You may also purchase a seasoned authorized tradeline that has been paid on time for several years which will boost your score expeditiously. The credit history of all the years of payment history will immediately show on your account boosting your credit score by 40-45 points which is the difference of getting approved for financing or saving thousands on interest rates. There are multiple options for tradelines depending upon your needs and how much you need to boost your credit score. Typically authorized tradelines to cost between $250-and $500 depending on the positive history, limits, and age of the tradeline. We also offer seasoned primary tradelines that will show up to a $15,000 credit line on your credit and boost your score 150-200 points. Once you purchase a tradeline it is guaranteed to post on your credit report or money back,
Can I use tradelines to boost my (CPN Number) New Credit file?
When starting a new credit file(CPN Number you will have a new beginning and another chance to build positive credit although you will have no history on your file. If you need to buy a car, rent an apartment or home, get credit cards, or would like to repair your primary credit a tradeline added to your CPN Number and boost your credit score to over 700 in 21 days. Our credit experts can help you establish your new credit file with Over a 700 credit score and then advise you on how to build your new file organically starting with credit cards and lines of credit.