Being in the credit, finance & real estate world for almost 2 decades – I’ve learned a lot about the inner workings of how credit works. My professional mission in life is to empower people to not only understand credit but to RESPECT credit because having an excellent credit rating will unlock many doors that were once permanently slammed shut!

Today I want to focus on TRADELINES. The two most popular types of tradelines are Authorized User (AU’s) and Primary Tradelines. Authorized User Tradeline: This is a tradeline that is added to your credit profile from a primary account holder with the goal of having that person’s “good credit” activity visible on your personal credit profile. This person who receives the AU account is NOT responsible for the account but also has NO control over the account. Primary Tradeline: Primary Tradelines are accounts that belong to you. This means the financial responsibility for all debts on this account are yours because you are the “Primary Account Holder.”

There are different types of Primary Accounts

Revolving Tradelines: These types of accounts do not end…they revolve! A credit card is the best example of a revolving tradeline. You can run up debt on it, pay it off in full, and over time, when you do, you have your entire available credit to use once again. This is what is commonly known as a revolving account or tradeline.

Installment Tradelines: This type of tradeline is the kind where you make installments to pay down a balance & when you’ve made all payments, the account becomes paid/closed. Meaning that once the account is paid in full it ends or is closed. The best example of an installment tradeline is a car finance account (buying a car and making payments).

Mortgage Tradelines: A mortgage tradeline is basically a mortgage loan account on your credit report. It is technically an installment account but because mortgage accounts tend to be very large in dollar amount, we decided to give them a separate category. On mortgage accounts, you typically have 360 installments (or 30 years)…and once you are done making all your installment payments, the accounts become paid and closed.

Boosting Your Credit Scores With Tradelines

You will do this by adding a tradeline to your credit report. Having a high limit, low balance tradeline posted on your credit profile by a real credit provider can literally boost your credit score by 100 points or more! It’s quite amazing & hard to believe until you witness it for yourself.

Credit repair companies LOVE tradelines mainly because they are a fast & sure way to boost your credit scores while amazing you in the process. Mortgage & Real Estate professionals love them because they give their clients a quick credit boost, which will help them qualify for better rates.

Now that you know what trade lines are…there are a few things to consider when you go online and search for a tradeline provider…

You must be careful! There are many people online claiming to be reputable tradeline providers and they are pure scammers! They claim they can post-primary lines and what ends up happening is these lines are Authorized User tradelines (meaning you are not responsible for the credit account) or, they won’t post anything at all!

Creditors in many instances will not approve loans from AU files unless there is a provable relationship with the primary account holder, that the client has actually used the card on file and/or has made a payment to that account. Another issue you may run into with AU accounts is trusting the person adding you to the account will keep the account in good standing.

There have been many instances where we have had clients come to us with issues from tradeline providers whose accounts defaulted. This will reflect negatively on your credit profile as well (even though you are not responsible for the account). But just like you take the risk of benefiting from the “good” credit reporting, you also must accept the risk of someone you know (or don’t know) – missing a payment or two!

When choosing a company to provide your tradelines – one of the MOST important factors you need to confirm is that they accept credit cards or PayPal. This protects your investment for at least 60 days. Most companies are able to have lines posted to your credit profile in 45 days or less…giving you enough time to get a refund if the service does not work.

In short, positive reporting seasoned tradelines are the lifeline to a credit report and can make a big difference in a loan being approved or denied. It holds the key for you becoming a homeowner, a new car buyer, a business owner, and more!

It means the difference in you paying 0% interest on a loan or 23% interest on a loan! When you are ready to make a sound investment in your financial future and are committed to creating a 700 PLUS credit score – contact the experts with over 2 decades in the credit/finance industry…call: (888) 718-6818!

Below is one of our clients who logged into his credit file to share with us his new results from 520 – 508 & 585 credit scores!

We’ll see you at the top…because the bottom is too crowded!!!