At times, concepts like credit tradelines can be overwhelming for beginners and experts alike. While the importance of a good credit score cannot be denied either, it proves your responsible credit behavior in the past.
Other than that, you also get other benefits like getting loans quickly, paying lower interests, and receiving quick mortgage approvals.
Still, the question of credit tradelines is confusing, especially when you've no idea how to select the right credit tradeline, what to look for and what to avoid.
The good thing is that we have already done all the homework, and here we will learn about how to choose a tradeline, the factors to consider, what to avoid, and the step-by-step process to invest in a tradeline. And since finding tradelines requires significant research, you can save your time by purchasing tradelines from Priority Tradelines!
So, shall we begin?
Your credit score on your credit report is a three-digit figure that indicates how creditworthy you are to prospective borrowers. In other words, a strong credit score can help you receive a loan since it ensures the lender that you will pay it back on time.
The number of accounts you have opened, the overall debt you owe, your repayment history, etc., are a few things used to determine your credit score.
Now, a credit tradeline is an account that appears on your credit score after you borrow a loan. Every tradeline contains complete information on the account, including both positive and negative payment records. Thus, a good credit score will increase your chances of getting a loan faster and vice versa.
Different tradeline companies can have varying options, but typically, a tradeline holds the information of the lender and the borrower. You can expect the following information on a typical tradeline:
The key to enhancing your credit score and economic situation is to carefully select a reliable tradeline company. The process is easier when you know exactly what you need to look for.
There are two categories of factors to consider when choosing a tradeline company:
Now, let's understand everything!
Credit limits are one of the most crucial factors when buying a tradeline. A good credit score is a holy grail for borrowers to portray an excellent picture of their responsible credit behavior before lenders. It is precisely why you should be aware of the credit restrictions your considered tradelines have.
A higher tradeline's credit limit is always a good option, especially if you consider spending a large credit amount. However, at the same time, you can also go for a decent tradeline credit as per your requirements.
You've selected a tradeline offering a higher credit limit; excellent! The next step is to consider credit utilization. Contrary to the popular myth, credit utilization should be low, typically between 20-30 %.
Note that going for a 0% credit utilization score is also useless and risky. An open tradeline with zero activity gives the scoring algorithms nothing to work with.
In a nutshell, think of credit limit and credit utilization as two contrary poles, with the former having a maximum score while the latter featuring a lower value.
The talk is diverse here, for some companies do not report to credit bureaus, while others do. The truth is that it is not a tradeline company responsible for reporting to the bureau but the lender or bank from where you are getting a loan.
There are three main credit bureaus, Experian, Equifax, and TransUnion; it is entirely up to the lender whether or not to post them; some may report to all of them while others prefer posting to any two.
However, it is still possible to be qualified for a home, car, or credit card while associating with tradelines reporting to any two bureaus. Yet if you feel conscious, we'd recommend you to choose a reliable tradeline company that provides additional assistance reporting to the bureaus to stay on the safer side.
Your credit score gets affected by the duration of your credit history. It is always recommended to choose credit tradelines with a more extended history, for it allows you to extend the credit history duration appearing on the credit report. Thus, an old credit tradeline is more profitable in this regard as compared to a recently established one.
One of the most crucial yet highly ignored factors in choosing the right credit tradeline is exploring more about your considered tradeline company. On the top of the list should be a perfect payment record, as it will save you later from ruining your credit score. A credit tradeline with a troubled payment history is simply investing in headaches, so better avoid that.
Besides reading reviews about your preferred tradeline company, you should also look at their experience level of buying and selling tradelines. The golden rule is to select a tradeline company with a minimum of five years of experience to get connected with proven experts and have as minimum issues as possible.
Choosing a tradeline with better customer service is equally important as selecting a higher credit limit and lower credit utilization. Most credit tradelines have poor customer service, so you better research and find the ones with excellent customer service offerings. Priority Tradelines, for instance, aims at providing low-cost alternatives for quick credit improvement with a long history of satisfied clients.
Knowing about your preferred tradeline company is good, but it is just as essential to evaluate yourself as qualifying for the tradeline. A good credit score, indeed, speaks for your past credit behavior before lenders, but companies also make sure they are recommending to trustworthy clients who:
Make sure you do not fall in any of the categories mentioned above, for they can make it hard for you to boost your credit score.
The world is full of unlimited options, and it is common to be confused by so many tradeline companies offering their services as the best. However, you should be aware of what not to do if you want to be associated with a reputable tradeline company.
Ready? Let's find out some of the most common mistakes that you should know before investing in any credit tradelines!
It's obvious but still needs to be laid out. Before the practical work comes the research, and so you should thoroughly understand how tradelines work before investing in any. Otherwise, there's always the risk of ending up in the hands of exploiters ready to sell you tradelines entirely unsuitable for your situation.
The two extremes here are common: some people consider the high-priced credit tradelines as offering the "best services" while others back off instantly and approach cheaper priced tradelines.
It is important to note that putting the price first isn't how things work when considering a tradeline. Even if you purchase the highest-paid tradeline, it won't be of any use if it fails to improve your credit score. Similarly, a low-cost tradeline may not be the best option if it doesn't have a decent payment record and a good reputation for satisfied customers.
Credit limits are important, and it is always recommended to go for higher credit limits. However, prioritizing the numbers over a company's experience is a trap many people fall into.
Think wisely: a credit tradeline offering the highest credit limit has nothing to do with how it works. The company's reliability depends on its promising payment records and the ability to meet the budget on time strictly.
It is always good to consider both the factors - the credit limit and the tradeline's age - together to understand whether or not to invest. Working with a provider that excels in introducing tradelines in the safest possible manner allows you to reap the benefits of adding tradelines while minimizing danger.
Exactly why knowing about credit scores and how tradelines work before investing is MUST, for some people follow the blind strategy to purchase a cheap tradeline just to "test" whether or not it works.
Such an approach is extremely pointless, for
All in all, save yourself from making the vain efforts of testing a cheaper credit tradeline just to get an experience. Instead, focus more on getting to know about how tradeline works and various tradeline companies.
There are no particular figures when it comes to credit tradelines. They do help you boost your credit score but expecting them to improve it to a certain number is futile.
It is because everyone has a different case, and it solely depends on your credit score situation up to where your score can be improved. Similarly, one tradeline may work for one situation while not suiting the other.
Likewise, the average boosting rate will also be different for every case. If your credit score is facing any serious derogatory conditions, then it can take even more time to improve it.
Also, a tradeline works in relativity to your credit score. And it is essential to be clear about it since some fraud tradelines may lure clients by boasting about substantial credit scores.
The credit score algorithms are unpredictable, so to declare anything with certainty isn't possible. You may ask how to trust the process then? The answer is simple: trust the tradeline's working history and experience.
If you do not want to end up in trouble, make sure you're not investing in credit tradelines to get a CPN.
For those confused, CPN stands for Credit Privacy Number - a fabricated, 9-digit number that looks like a Social Security Number. Some people involved in bank extortion try to get a CPN under a false name.
However, keep in mind that CPNs are illegal, as stated by federal law, and anyone involved in violating the law by asking for a CPN with a tradeline would have to face the consequences. Also, tradelines providing fake CPNs will be equally responsible for breaking the law and strictly punished.
Credit tradelines and credit repair are two different services. The former boosts your credit score while the latter "repairs" your credit score by removing things (derogatory items or other inaccurate, negative information) from your credit reports.
As stated earlier, you are not eligible for a credit tradeline if your credit score is full of negative items. And before you proceed to boost your credit score, you may first clear it by contacting a credit repair.
Last but not least, excellent creditworthy behavior is always appreciated. And so, you should always make sure to start with at least a decent credit score when buying tradelines. A terrible credit score means you are facing multiple major derogatories. Similarly, a zero score won't be of any benefit as well.
Now that we have covered what to research prior to buying credit tradelines and what to avoid to be saved from harm, it is time to learn the practical stuff: how to buy credit tradelines.
Typically, an experienced tradeline company - Priority Tradelines, for instance, have the following steps:
Let's dive deep into all the steps now!
First, you have to decide which tradelines you want to invest in. Priority Tradelines show almost 100 options in its Tradeline Inventory. You can also see the following data:
The page also has a tradeline calculator and automatically shows you the following data as soon as you select your desired credit tradelines:
Also, a very confusing question is how many credit tradelines you should purchase. As stated earlier, there is no definitive answer since the value varies on a case-by-case basis. However, if you have a terrible credit score, it is suggested you invest in 2-3 credit lines. Else, you can always contact Priority Tradelines to have further consultation.
Once you decide on the tradelines, the next step is to fill in the form, which is just below the tradelines table and calculator. Make sure you are filling in all the details required, such as:
Other than that, you'd also have to give in your credit monitoring account, credit monitoring login, and password.
When purchasing tradelines from Priority Tradelines, you can make payment via the following ways:
A list of credit cards is accepted, including:
Also, please note that it is a one-time purchase for the reporting period of three months. You can see your three-month tradeline period on your credit report as well.
After making payment, you would have to upload its receipt to give evidence of your purchase. The process is easy; follow these steps:
When the payment is received, an email will be sent to your email account.
Typically, the email is sent soon after the payment is received. The following steps can take a typical of 7-10 days to proceed. After the given time, your tradeline will appear on your credit report, which is why make sure to check the report often.
In case the tradeline is taking more than ten days to appear on your credit score, do the following:
The approved tradelines are valid for three months. You may want to increase the time limit given any condition like credit score growth/refunding, company finance, or mortgage pre-approval or closing. In that case, you can request a paid extension by emailing the customer care service of Priority Tradelines.
Also, remember to contact before 30 days of your current tradeline expiration.
Even after you have successfully purchased your tradelines, you should timely visit your credit report to ensure its accuracy. It helps you identify any accidental mistakes that may lower your credit score later if left unattended. Contact the support team if you see any unfamiliar tradeline that you didn't purchase or any other error in your credit report.
Founded in 2016, Priority Tradelines offers credit boosting services across the United States with a long history of satisfied customers. To provide a low-cost, risk-free credit experience to our clients, we, at Priority Tradelines, can assist you:
Simply select your preferred tradelines, fill out the form, make payment, and your tradeline will appear on your credit score within 7-10 days. After that, you can achieve your best possible score within 30 days or less!
Just give us a call at 469-610-5147 or email your queries at [email protected], and we will be delighted to help you!
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