Buying tradelines is a way to build good credit. It is relatively quick, not too expensive, and definitely straightforward. You can pay someone else to be added to their credit cards as an authorized user and in this way piggyback from their excellent credit score. Please review our tradelines for sale.
What is a credit score
A credit score is a number that gives a single numerical value to your creditworthiness. A score of how good you are managing your credit and importantly how good you will be in the future dealing with credit and debt.
The importance of a good credit score
A good credit score is essential for many reasons related to credit and money and even for unexpected reasons such as getting a job. Having a god credit score will allow you to get loans, mortgages and credit cards that you can leverage to buy things you need (hopefully) and want.
It is also well known that when you apply for a job one of the things the hiring company might do at some point is to check your credit score. This gives them an idea of how good an employee you will be. Fair or not, it happens.
How the credit score is calculated
The truth is that no one knows exactly how scores are calculated (except the people calculating it). But we know this much. Two of the data points that go into your credit score are your credit utilization and the average age of your open lines of credit (mainly credit cards).
Your credit utilization is a measure of how much of your credit line you are using. Say you have two credit cards with a total credit line of $10,000. And your total balance between the two cards is $5,000. Then your credit utilization is 50% (the $5,000 divided by the $10,000). You need to bring this utilization down for a good credit score.
Another important part is your average age of accounts. Say those two cards mentioned above are 1 and 3 years old. Then your average age of accounts is 2 years. You want this number to be as high as possible to get a good credit score.
The obvious way to improve your utilization is to pay down debt. But this costs money and it may take time to do. The only obvious way to improve your average account age is to wait until your cards age (and not to open new ones).
However, there is a different way to build good credit faster, although with some cost.
A way to build good credit
The alternative to pay down debt to improve utilization is to pay to be added as an authorized user to someone elses’s credit card.
Say you still have to two cards mentioned above. Then you are an authorized user to a card with, say, $40,000 limit and a negligible balance. This way your credit limit will go up to $50,000 and if your balances on the original two cards stays at $5,000 then your utilization will go down to 10%. Your score will go up if nothing else changes.
Similarly, if you add to your two cards a card that is 20 years old then your average age will go up from 2 years to 8 years (1+3+20=24, 24/3=8).
Together, the utilization and average age account for about 30% of your credit score.
Resources
Here is a list of resources to get started. 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.
Also, feel welcome to ask any questions below.
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