credit cards Archives - Page 8 of 8

Where can I buy a tradeline?

It is a fact that no one knows precisely how the credit scoring algorithm works because it is a secret. Attempts to understand the way credit scores work have resulted in many inferences, correlations, and speculations. Buying a tradeline helps you to improve your credit. Therefore, purchasing a credit line can be very beneficial. Still, you may be wondering, ‘where can I buy a tradeline?‘

Keeping track of all activity on an account is easy with a tradeline on a borrower’s credit report. A tradeline contains information about the creditor, the lender, and the type of credit provided. An important aspect of trade lines is the payment status.

Most people want their credit reports to be as good as possible. You do not see the addition of an authorized user to your credit report when you purchase authorized user tradelines on a credit card. With some exceptions, your credit report contains information about the entire history of your account.

You will get your answer in this article, but before telling you where can I buy a tradeline? First, let’s talk about what a tradeline is. And why should you purchase a tradeline?

What is a tradeline?

Ever wondered what that account on your credit report is? It is the history of your credit. When you apply for a loan, the lender checks your credit history to ensure you can make payments if approved. Well, to cut it short, that’s a tradeline! This can include any bill you pay, credit card accounts, loans, mortgages, auto loans, and more. These tradelines will all show up on your credit report.

Becoming an authorized user on someone else’s credit card can be a great way to get your credit rating started. And, it may sound risky, but many people with poor credit are happy to buy other people’s tradelines. That is, people pay others to be added as authorized users on their credit cards. And not to use the card, just for the other person’s reputed card to show up in their own credit report.

Whether you are new to this and have no clue what a tradeline is or someone who wants to gain better insights about tradelines, you have landed at the right place. Let’s begin!

The seven mastery levels of credit card usage

There are many ways to use a credit card, probably as many ways as there are people using credit cards. And, just as there are no two people created equal, there are no two equal ways to use a card. We can’t really talk about each of those in detail so I just created this super-clever 7-level classification in the progressive mastery of credit card usage.

I ordered the seven levels by their increasing level of mastery, but not in the order people would go through them. Obviously, everyone will start at the “average” level (the third level in my arbitrary system). In a way, everyone has a shot at using credit cards in a clever way. From there, one would either go down to one of the first two levels (the “bad” ones) or up to one of the top four levels (the “good” ones).

So here are the seven levels:

How to open a credit card

They say there are two kinds of people: those who pay interest and those who earn interest…. and there are those who know to open a credit card and those who don’t.

The above was just a general reminder not to forget as one thinks about opening a new line of credit. Below I will lay out the steps I follow when I open a new credit card.