Credit Tradelines to Boost your Credit Score

Credit Tradelines to Boost your Credit Score

  • Posted By: Admin
  • Posted On: 2022-02-18 05:15:40
  • Category: Blogs

Credit Tradelines to Boost your Credit Score

The importance of a good credit score is not hidden in today's world; you can get loans quickly, pay lower interests, and receive fast mortgage approvals. It wouldn't be wrong to say that a high credit score can give you comfort in almost every aspect of your financial life.

However, as easy as it seems, raising your credit score is highly challenging. You can either struggle all your life or go for the simple solution: take advantage of credit tradelines to boost your credit scores! And if the terms feel unfamiliar, it is time to clear all your doubts!

Let's explore everything about credit scores and what makes a good or bad rating, including the perks or loss a higher or lower score can give you (respectively). In the end, we'll also reflect on tradelines, all the necessary elements it includes, and how you can avail yourself of reliable tradeline agencies like Priority Tradelines to quickly raise your credit scores.

So, let's begin!

What is a Credit Score?

Your credit score is a number comprising three digits, and it reflects your creditworthiness to your potential lenders. To say, a good credit score serves as an influential factor in getting loans as it assures the lender your likelihood of repaying loans on time.

A credit score is calculated using information from your credit history, such as

  • the number of accounts you have open,
  • the total amount of debt you owe, and
  • your repayment history, etc.

It is essential to understand what counts as a good or bad credit score since a higher rating simply indicates a borrower's responsible credit behavior in the past and thus, allowing the lender to entrust the borrower when reviewing a loan request.

What is Considered a Good or Poor Credit Score?

According to the credit scoring model developed by the Fair Isaac Corporation (FICO), you can recognize a good or poor credit rating as below:

Credit Score

Remarks

Status

Creditworthiness

<580

Poor

Below the average US consumers score

A highly-risky borrower

580-669

Fair

Below the average US consumer score

Somewhat less risky (yet, loans may get approved)

670-739

Good

Near/Slightly above the average US consumer score.

A reliable borrower

740-799

Very Good

Above the average US consumer score.

A trustworthy borrower

800+

Exceptional

Above the average US consumer score.

A highly creditworthy borrower.

Even though a 700+ score is appreciated, some lenders also consider a 500-600 credit score good enough to trust the borrower. Still, it’s up to the lender, and to stay on the safe side, it is better to keep a record of exceptional credit rating.

What Are Tradelines?

Unlike the popular myth, a tradeline isn't a part of any stock world. It is a popular term in the finance world as credit reporting organizations use the word "tradeline" to describe credit accounts displayed on your credit report.

You can have various accounts, and a separate tradeline represents each. Also, a "Revolving Tradeline" refers to the credit cards and/or lines of credit since the credit "revolves" or changes with time as payments/purchases occur.

Similarly, an "Installment Tradeline" includes personal loans like mortgages, student loans, and auto loans. Unlike the revolving tradeline, the credit remains fixed in the installment tradeline.

What Does a Tradeline Include?

It is common to expect variations in the tradeline by a particular agency; however, a tradeline typically includes general information about the account holder (& lender), such as

  • Tradeline type (Revolving/Installment)
  • Account Number (Partial/Scrambled)
  • Current credit balance in the account
  • Total credit limit (for credit cards)
  • Original loan amount (for installment loans)
  • Account holder position (official/authorized user)
  • Payment status (delinquent/current)
  • Recent balance (limited to credit cards only)
  • Account opening & closing (if applicable) date
  • Last activity status (date & payments)
  • Minimum monthly payment
  • Payment history
  • Lender's information (name & address)

How Credit Tradelines Can Help You Boost Your Credit Score?

It is always beneficial to have a high credit score. Yet, at the same time, keeping a good score is highly challenging, especially when you need an excellent credit rating. And that is where the services of credit tradelines!

A tradeline assists you in improving your credit score from a poor to exceptional rating so that you don't have to worry about:

  • Paying more interest on your loan
  • Failing to get lower rates on insurance premiums
  • Missing career prospects and employment opportunities
  • Having fewer chances of getting a house/apartment on rent
  • Worrying about utility companies charging more deposits on a bad credit score
  • Missing out on retirement finances

Since a good credit score puts you in a better position in the eyes of your lender, a tradeline agency will make sure you enjoy the perks of an exceptional credit rating, such as

  • The loan interest will also be lowered
  • You'll be able to receive the best possible insurance rates (on car, house, etc.)
  • Lenders will entrust you more, and you'll easily get a loan when needed
  • It will be easy for you to find a house/apartment
  • You'll enjoy the best rewards credit cards
  • You can take advantage of high borrowing capacity (thanks to a creditworthy background)
  • No need to worry about sudden security deposits on utilities

By hiring the services of a reliable tradeline like Priority Tradelines, you can raise your credit score to 750+ and even more. Typically, it can take somewhere between 10-30 days to get a raise in your credit score, yet the advantages have a long list once the process is done!

About Priority Tradelines

Priority Tradelines made its advent in the finance industry in 2016, and since then, the agency is known for its excellent credit scoring services and a long list of satisfied customers all across the United States.

Raising your credit score is indeed a tough task. Yet, with Priority Tradelines, you are welcome to enjoy a risk-free experience, as our good tradelines are sure enough to assist you in:

  • Establishing new credit
  • Building business credit
  • Mortgage approvals
  • Reducing interest rates
  • Accessing personal & business loans
  • Getting Auto loans
  • Refinancing

However, we also encourage our new clients to know about our Authorized User (AU) Tradelines product to avoid any problems later:

  • Priority Tradelines do not permit authorized users to use or modify the account.
  • Authorized users are also not given access to the physical card or the related credit line.
  • Authorized users are not held responsible for repaying any unpaid debts.
  • AUs' clean credit report is appreciated (Our policies strictly negate any collections, late payments, charge-off accounts, bankruptcy, etc. ).

Our process is simple:

  • First, you have to shop for tradelines and make your selection.
  • Once you are done deciding, the next step is to fill in the order form. Fill in all the details needed, and if you're confused about anything, our customer services are just a click away.
  • Then, make your payment and confirm by uploading the payment receipt.
  • Once the payment is received and confirmed, you can relax and leave the rest to us.

With low utilization and exceptional credit histories, Priority Tradelines will make sure you receive the best possible score within 30 days or less!

Want to know more about us? Contact us at [email protected] or give us a call at 469-610-5147, and we'll be happy to solve all your queries!

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