Boost Your Credit Score with Seasoned Tradelines for Sale
Navigating the world of credit reports and scores can be tricky, but it is an essential skill when you need sufficient credit to purchase a house, buy a car, or take out a business loan. The best course of action is always to be mindful of your credit, make wise choices, and correct any issues. However, there are tools available to help you improve your credit score if you need to.
Tradelines are the accounts listed on your credit report, including mortgages, auto loans, credit cards, etc. An “authorized user” is a person who is given access as a user of the account, but they are not responsible for the bill. When people have vacant authorized user spaces on their credit card accounts, sometimes they sell a tradeline to another person to benefit their credit. When they do this, it’s called an “authorized user tradeline” or “AU tradeline.”
An AU tradeline is a revolving credit card in which one person adds another as an account holder. If you need to boost your credit score, you may be considering purchasing authorized user tradelines for sale.
Often, family members add one another as authorized users on their credit cards. If this isn’t an option for you, you are probably exploring tradeline companies that allow you to lease credit card accounts for a fee. You are proactively seeking ways to improve your credit and your life. So, how can authorized user tradelines help you?
Where can I find a tradeline for sale?
When you purchase an authorized user tradeline, you rent an “authorized user” slot on another person’s credit card. No matter how you buy a tradeline, the cardholder will be the one to add you to their card and eventually remove you. There are various approaches to buying tradelines.
- Tradeline companies sell seasoned tradelines as a product. They facilitate the sale and purchase of a trade line. Explore websites, read different companies’ FAQ pages, and find a company you trust. Trusting the reviews and reputation of a tradeline company is of utmost importance if you want to see a return on your investment when your credit report comes out.
- Credit repair companies sometimes offer tradelines for sale as a service (for a fee) when helping people rebuild their credit. If you have built a great relationship with a credit repair company and trust them to help you, they can offer valuable assistance. (Note: if you are still repairing your credit, wait until you have completed all the steps before purchasing tradelines.)
- You will also find tradelines on eBay and other ad boards. If tradeline holders don’t want to pay the seller’s costs, they may try to sell their credit tradelines directly. It can be challenging to trust a private seller without a third party to protect your purchase and confirm the value of the tradelines. A simple internet search will help you locate private sellers to purchase from directly.
- Some mortgage brokers and loan officers may introduce you to the idea of authorized user tradelines if they think it will help them close a sale. Most aren’t familiar with the risks and benefits of AU tradelines, but if they are, then they can help!
How will it help my credit if I purchase tradelines?
Purchasing an authorized user tradeline makes you an authorized user on a seasoned credit account for approximately two months. When you become an authorized user of an account that has been open for many years, has a spotless record, and has a low utilization rate, your credit score can increase within a few months.
If you need a boost before you apply for a mortgage, auto loan, apartment rental, or even a new job, consider the timing of your upcoming credit check. Your AU tradeline will only benefit you once the credit bureaus find out about it.
There is no guarantee exactly how much a tradeline will boost your credit. That depends on your credit history and the history of the tradelines you purchase. However, if you purchase seasoned tradelines that are in good standing, you can expect to see an increase in your credit score.
A 2018 study by Credit Sesame revealed that you could quickly improve your credit score by becoming an authorized user. For example, for those with bad credit (credit score below 550), becoming an authorized user improved their credit score by 10% in 30 days and 30% in a year.
Something else to consider is that you typically need at least three positive open tradelines to qualify for most loans. If you have fewer than this, purchasing multiple AU tradelines can be beneficial. More accounts increase the age of your credit history, lower your utilization ratio even more, and give credit bureaus more information to gauge your creditworthiness. To help with this, some companies sell tradeline packages for buyers who want their credit reports to have an extra boost.
Whether you purchase one or multiple AU tradelines, the higher the limits and the longer the card histories, the greater you can expect your credit increase to be.
How can I buy a tradeline?
All companies do things differently, but you can expect the process to go something like this:
- Add tradelines to your cart after choosing which ones you want.
- Review the contract. It’s essentially a rental agreement; you rent someone else’s seasoned tradeline. If you have questions, ask!
- Pay for your tradeline(s). Typically, payments can be made online or over the phone.
- Provide necessary documents. Tradeline companies usually need your social security card or driver’s license to be able to send your information to the credit bureaus. You can most likely upload these online.
- Check your report. Updates from your rented tradelines will usually post between 15-45 days of your purchase, depending on the account’s posting date.
As you shop, keep these four factors in mind: account age, credit limit, lender, and posting date. These factors will impact your credit report the most. Here’s why:
- Age contributes up to 50% to your credit score, so the longer the history, the better!
- Available credit limit affects your credit utilization ratio, accounting for up to 30% of your credit score.
- Some lenders report more frequently to all three credit bureaus. Capital One, Bank of America, Discover, and Navy Federal are the banks that make the most consistent reports.
- Lenders report authorized users to credit bureaus on a specific date, and the reports tend to upload to your account 6-10 days later. Knowing these dates will give you an idea of when to expect credit report changes.
How can I find the best tradeline company?
There are dozens of private companies with tradelines for sale. When shopping for tradelines, you want to find the best deal and, most importantly, the best chance at boosting your credit. So what should you look for in a reliable tradeline company?
- Transparency – You want to find a tradeline company that is transparent about its services and prices. If a company’s prices are listed, you can trust that they are a legitimate business.
- Physical Location – A trustworthy tradeline company will have readily available contact information, including a physical address for their business. If it’s challenging to figure out how to reach the company, save your time and energy and look for a different company.
- Experience – Find out how long a company has been around, how many customers they have served, and look for testimonials to discover how other people’s experiences have been.
- Customer Support – You want to work with a responsive and knowledgeable company. It’s valuable to find a professional company with a system for customer support, so you know they will take care of you if any issues arise.
These qualities make any company better to deal with. Be sure to choose wisely, since your decision will impact your finances and lifestyle.