Are you tired of being rejected for loans and credit cards because of your poor credit score? You’re not alone. Millions of Americans struggle with bad credit, but there is a solution: to purchase a tradeline.
But what exactly is a tradeline? In short, it is any account listed on your credit report, including credit cards, loans, and mortgages. These accounts are used by credit reporting agencies to calculate your credit score, which is a measure of your creditworthiness.
Credit scores range from 300 to 850, and a score of 700 or higher is considered good credit. But if your score is below 700, you may have trouble qualifying for loans or credit cards, or you may be charged higher interest rates.
Become an authorized user
One way to boost your credit score is by becoming an authorized user on someone else’s credit card. This is known as an authorized user tradeline. Essentially, you’re piggybacking off the other person’s good credit history, which can help improve your own credit score.
One of the biggest benefits of an authorized user tradeline is that it can help with your credit utilization ratio. This ratio measures the amount of credit you’re using compared to the amount of credit available to you. Ideally, you want to keep your credit utilization ratio below 30%, as anything higher can negatively impact your credit score.
By becoming an authorized user on a credit card with a high credit limit and low balance, you can instantly lower your credit utilization ratio. This can have a significant impact on your credit score and make you more attractive to lenders.
Another benefit of an authorized user tradeline is that it can help increase the average age of your credit accounts. This is because the age of the account will be factored into your own credit history. The longer the credit account has been open, the more it will positively impact your credit score.
Purchase a tradeline
Now, you may be wondering how you can purchase a tradeline. The process is actually quite simple. You can work with a reputable tradeline company that will connect you with someone who is willing to add you as an authorized user on their credit card.
Before purchasing a tradeline, it’s important to do your research and ensure that the tradeline company is legitimate. There are many scams out there, so you want to make sure you’re working with a company that has a proven track record of success.
Once you find a reputable tradeline company, you’ll be asked to provide some basic information, such as your name and social security number. The company will then match you with someone who has a credit card that fits your needs.
The cost of purchasing a tradeline can vary depending on the credit limit of the card and the length of time you want to be an authorized user. Typically, you can expect to pay anywhere from a few hundred dollars to a few thousand dollars.
Resources
The following is a list of resources to start learning about tradelines. We have a list of tradelines for sale, and a tradelines FAQ. Also various posts about tradelines, and a chart of tradeline prices from competitor sites. Finally, a contact form to ask further questions.
Please feel welcome to ask any questions below.
In conclusion
Purchasing a tradeline can be a great way to improve your credit score and increase your chances of getting approved for loans and credit cards. Just make sure to do your research and work with a reputable company to ensure that you’re getting the most out of your investment. Happy tradeline hunting!
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