Table of Contents
- 1 What is a Credit Tradeline?
- 2 The 5 Best Tradeline Companies 2022
- 3 Best Tradeline Company Overall: Tradeline Supply
- 4 BoostCredit 101
- 5 CreditPro
- 6 Priority Tradelines
- 7 Superior Tradelines
- 8 Are Credit Tradelines Legal to Use?
- 9 Top Benefits of Buying a Tradeline
- 10 How Long Do Tradelines Stay on Your Credit Report?
- 11 Cost of Buying Tradelines: How Much Do Tradelines Cost?
- 12 What To Look for in a Good Tradeline Company and Service?
- 13 How to Buy a Tradeline: Where can I find Tradelines for sale?
- 14 Process for Adding Tradelines to Your Credit
- 15 How are Credit Limits and Utilization Ratios Affected by Tradelines?
- 16 Authorized Users: Is Piggybacking Credit Still Effective?
- 17 Buying Tradelines: Common Mistakes People Make
- 18 Using Tradelines to Repair Credit
- 19 Working with Random Companies
- 20 Tradeline Alternatives
- 21 Conclusion
There are multiple tradeline companies individuals can choose to work with. At this point, most people, if not everyone, have heard or read about a tradeline, and you may be contemplating getting one. Tradelines are an excellent way of adding to your credit history. Usually, most people opt to piggyback off someone with a good credit score. However, if you do not know anyone with a great credit score, you can use a tradeline company. But first, you will need to do proper research before choosing the tradeline company you will be working with.
What is a Credit Tradeline?
Fundamentally, the accounts appearing on your credit report are referred to as tradelines. For instance, whenever you get a new credit card and take an auto loan to finance a payment, a new tradeline is added to your report. To have a good tradeline, you need to practice good credit habits, meaning your credit history will be positively impacted.
On the other hand, suppose there is negative information on your tradeline. This reflects poorly on your credit score. Using your credit wisely, paying your bills on time, and avoiding defaulting on loans is what makes you have good credit since your tradeline will reflect this.
If you have bad credit, there are ways you can repair it. However, it would be best to avoid making late payments and having bad credit if you can help it. Suppose you have bad credit. Improving your tradelines’ quality can help you fix it. You will have to start by paying all your debts off and ensuring that you pay all monthly bills on time and consistently without defaulting.
In case you are in immediate need of a good credit score, this is where a permament tradeline comes in handy. You will have to consider buying a tradeline if you cannot wait to build your credit score gradually. As mentioned earlier, you may not know anyone with an excellent credit score who you can piggyback on. Therefore, when you buy a tradeline, you essentially buy into having them put your name on another person’s account as an authorized user for a specific period. Simply put, you are temporarily paying to piggyback on another person’s excellent credit score, with the hope of taking maximum advantage of their credit history.
The 5 Best Tradeline Companies 2022
There are multiple tradeline companies you can work with. However, before you work with any company, you must do proper research. It is worth noting that the best tradeline companies have the longest trading history and large credit limits. Ensure they are a reputable and professional company and have been operational for a while. Luckily, you can read reviews online on different companies to make an informed decision, or you can always ask friends or family for referrals. Listed below are the five best tradeline companies of 2022 based on our independent research.
If you’re looking to repair your credit quickly and efficiently then we recommend Credit Saint whom provide a comprehensive credit repair solution.
Best Tradeline Company Overall: Tradeline Supply
Tradeline Supply Company was established in 2017. Although this company is fairly new in the industry, its pricing is competitive compared to other companies that have been in the market for a longer period. You can buy tradelines on this site, and the process is quite easy and efficient. You can also sell your credit history on the site, provided you have a good credit score and earn money passively. Essentially it is a tradeline marketplace.
They have excellent customer service and a fast response time. Whenever a customer has a complaint, they attend to them on time and try to resolve the issue, especially if it is a negative experience. They were also among the first companies to have an automated online system where people can buy primary tradelines. Their online ordering system is also pretty simple and is what helps keep their prices low. Even though they have not been operational for a long period, most of the customers who have worked with them affirm that they are trustworthy. You can read our review of Tradeline Supply Company for further information. They are our top recommend provider for the very best tradelines.
BoostCredit 101 is located in Denver, Colorado. Their blog is quite informative, and they also have an FAQ section on how tradelines work and how they can improve one’s credit score. They also have a high rating on Google and good customer service.
CreditPro was established in 2007. Since they have been operational for a long period, they have experience and can also be trusted. Their process is fairly quick, and they also have a policy that guarantees money back in case of any disputes with your credit card. They also offer free consultations if you would like to know more about the process, to make an informed decision.
Their website is user-friendly, and you can easily contact them. How long it takes for your credit to be fixed may vary from each person, depending on your circumstance. However, they do not guarantee that your credit score will go up when you buy their tradeline.
Priority Tradelines was founded in 2016. It is also worth noting that their founder has been in the industry since 2011, so you can be sure they are quite knowledgeable. They are located in Dallas, Texas. They guarantee to help both businesses and their clients have a good credit score when buying tradelines from them. They also have a blog with detailed and helpful information about tradelines that may answer some of your questions.
The company offers consultation services online, which is very convenient. Their website has a list of the services they offer with tradelines.
Superior Tradelines was established in 2010 and is located in Cocoa Beach, Florida. It is worth noting that the company does not repair credit. You can sell your credit or buy a tradeline that helps you piggyback on someone else’s perfect credit score. The company’s website has valuable insight into how tradelines work. You will have to contact them if you need any specific information.
Are Credit Tradelines Legal to Use?
Buying tradelines is legal, provided you are looking for a way to improve your credit score. Although it does seem like a deal that is too good to be true, it is a legitimate way to improve your credit history. There are no state laws or federal laws that are against people buying tradelines. However, there are some downsides involved with buying tradelines. That is why you need to do proper research and extensive reading before buying a tradeline.
You need to ensure that you are working with a tradeline company that is authorized. Essentially individuals build their credit score so that entities like banks will determine if they can loan you money or not. While buying tradelines is legal, especially if you do not have parents to give you a head start on having good credit, it could get you in trouble. Technically, when you piggyback on another individual’s credit, you are not the one building the credit. You have to give out your credit information when buying a tradeline, which is dangerous since you do not know those individuals.
Creditors are well aware that individuals try to boost their credit scores of other people with an excellent credit score account. It is likely that if a tradeline has listed you as an authorized user and has not specified what relationship you and the account holder have, a creditor may refuse to give you a loan. This can be quite an inconvenience considering you will have paid for the tradeline.
As mentioned earlier, you need to work with a reputable and professional company that has been operational for some time. You cannot work with the first company you come across without verifying that they are well established. Without proper research, you are likely to work with a company that is a scam. You will pay exorbitant prices, and they will not deliver on the services they promised to deliver. This means you will have spent your money for nothing, and chances are you may not even be able to recover the money.
Working with a tradeline company that has been operational for a long period ensures you are at peace, and you know you are making an informed decision that you will not have to regret.
Top Benefits of Buying a Tradeline
You’re probably wondering exactly how do credit tradelines work? There are multiple benefits of buying a tradeline, especially if you are in immediate need of a good credit score. When you add a tradeline to your credit score, you can be sure that your credit score will be built in the next thirty days. Although, it helps to confirm this with the tradeline company you are working with. Listed below are some of the top benefits of buying a tradeline.
Lower Loan Interests
You have likely seen advertisements with very low loan interests, which are pretty enticing. However, you need to note that low interests do not apply to everyone. People with a good credit score are the only ones who benefit from low loan interests. Therefore, if you would like to pay a lower interest rate, especially on a mortgage, you need to ensure you have excellent credit.
If you do not already have one, a tradeline can help fix that. A good credit score guarantees that you will get low-interest rates. Note that you can qualify for a loan with a low credit score. However, your interest rates will be much higher, meaning you will be paying for that loan for a long period, and you will also spend so much more money than you would have saved if you had a good credit score.
You have a Better Chance At Getting a Loan
Without a good credit score history, it is likely that you do not even try to apply for loans because you know chances are you will be turned down. You can change this by buying a tradeline. Of course, you have to be careful and smart on how to approach this. Still, a tradeline will change your credit report even if creditors consider your debt and income.
As mentioned earlier, a good credit score ensures that you have a better chance of getting a loan approved. You can confidently apply for a loan without the fear of being turned down. Remember that, unless you are paying in cash, whenever you are purchasing something like a car, your creditor has to check your credit report. A low score almost automatically disqualifies you.
Better Car Insurance Rates
Besides getting a creditor to approve your loan, you will also have to deal with auto insurers. If you have bad credit, they will use that against you. Therefore, it would be best to buy a tradeline to have good credit. You do not have to worry about them being on your case. Since individuals who have bad credit file more claims, insurance companies will charge you higher than someone with good credit. Therefore, to avoid paying higher fees, improve your credit by buying a tradeline.
Increases your Chances of Getting a Job
It is worth noting that a potential employer does not have access to your credit score. However, they can access and view your payment history, which fundamentally is your credit report’s version. Employers would like to have employees who are responsible. This means that if you are not overextended, responsibly use your credit card, and pay your bills on time, then you will most likely be a responsible employee. This is where buying a tradeline comes in handy if you have bad credit.
Improves your Chance of Renting an Apartment
Most, if not all, property owners and landlords will use a credit score to screen their tenants. Therefore, if you have bad credit, they will likely turn you down, but buying a tradeline can help change this. With a good credit score, you will be able to rent an apartment without a hassle because they trust that you will be making your rent payments on time.
How Long Do Tradelines Stay on Your Credit Report?
Various factors will determine how long a tradeline stays on your credit line report. This includes the type of company you use and the type of tradeline. Usually, the tradeline can stay on your credit report for somewhere between two months and six months. However, it is worth noting that tradelines can be included on your credit report for up to seven years or even more. Luckily, only positive tradelines will stay on your credit report for a long period.
The tradeline stays on your credit report for as long as the account is active and open. Suppose you close your account in good standing. It is up to the reporting agency to decide how long they will maintain the tradeline. Usually, the standard is ten years. It would help if you bought a tradeline as a temporary solution instead of a long-term solution.
The main goal should be to have a good credit history so you can attain a specific goal. After that, take the initiative to practice good credit habits so that your score can be raised permanently. Note that any tradeline of an account that is closed due to negative history will be removed from your credit report after seven years.
Cost of Buying Tradelines: How Much Do Tradelines Cost?
There is no standard price for buying tradelines. The cost of buying a tradeline will vary from company to company. The cost of tradelines can start from $150 to $5000 and even more. Well-established tradeline companies are also referred to as seasoned tradelines. They charge more than companies that are fairly new to the market because they have high credit limits, low balance, and long payment history.
It is worth noting that most tradeline companies offer their customers personalized support, meaning that when you contact them, they will assign you a knowledgeable representative who will walk you through the process. Based on your goals, needs, and budget, they will recommend affordable tradelines that best suit you. Some companies also offer tradeline packages.
What To Look for in a Good Tradeline Company and Service?
There are various tradeline companies you can choose to work with, but you need to work with a good company. Listed below are some of the factors you can consider when choosing a trading company.
Honesty and Transparency
Honesty and transparency are essential factors to consider when looking for a good trading company. For instance, a company that displays its prices on its website is good because it lets its potential customers know how much and what they will be paying for. Established tradeline companies are usually transparent about their services. This gives you the confidence to work with them because you are sure that they are conducting a legitimate business that is law compliant.
A reputable and trustworthy tradeline company should have a physical location. You should also steer off any tradeline company that does not have a contact address on their website where you can reach them on. They likely have something to hide. A good tradeline company lists all their information and different ways you can reach them. If you have to go fetching for information about a company, that is not the right company for you to work with.
It is essential to work with a company that has been operational for a long period. This means they have experience in the tradeline industry, and they will deliver on the service you are paying for. It would also help to do some research and find out how many people they have worked with since their establishment, more important, how many of their customers were satisfied. It would also help to check the testimonial page on their website.
The customer support of a tradeline company can tell you a lot about a tradeline company. How fast they respond, their professionalism, and how knowledgeable they are matter. Good tradeline companies often list an email or contact number you can call to talk to customer support. A company that takes its time to understand your needs and what you are looking for is good.
How to Buy a Tradeline: Where can I find Tradelines for sale?
The process of buying a tradeline may seem daunting, especially if it is your first time. There are many things to consider, and you are also cautious because you do not want to be duped. However, provided you are working with a reputable company, there is nothing to be worried about since the process is pretty straightforward. Many tradeline companies are online, so you can easily buy a tradeline from the comfort of your home.
You will need to do proper research, select a tradeline you are comfortable working with and one that fits your needs and has the tradelines you would like. Once you find a tradeline that caters to your needs, you must purchase it and add it to your cart and then complete the checkout process. It is that simple. Note that all tradelines for sale can be found online. Look up what you want, and the search engine will display the various options.
Sample Tradelines Available from Tradeline Supply Company
|Bank Name||Card ID||Credit Limit||Date Opened||Purchase Deadline||Reporting Period||Availability||Price|
|Chase||19953||$6,000||2017 Mar||Aug 26th||Sep 6th - Sep 13th||2 in stock||$310.78|
|Barclays||6796||$10,000||2019 Jul||Sep 14th||Sep 25th - Oct 2nd||1 in stock||$310.78|
|Barclays||18087||$10,000||2019 Jan||Sep 11th||Sep 22nd - Sep 29th||1 in stock||$310.78|
|Chase||17934||$10,000||2019 Aug||Sep 11th||Sep 22nd - Sep 29th||1 in stock||$310.78|
|Barclays||10971||$11,200||2018 Nov||Sep 11th||Sep 22nd - Sep 29th||2 in stock||$310.78|
|Barclays||12009||$5,000||2016 Feb||Sep 6th||Sep 17th - Sep 24th||1 in stock||$310.78|
|Barclays||11439||$14,000||2017 Dec||Sep 16th||Sep 27th - Oct 4th||1 in stock||$310.78|
|Capital One||8704||$3,000||2013 Aug||Aug 31st||Sep 11th - Sep 18th||1 in stock||$310.78|
These tradelines for credit repair typically post within 7 days. This is an example of seasoned tradelines for sale.
Process for Adding Tradelines to Your Credit
There is no standard process of adding tradelines to your credit since the process varies depending on the company you are working with. Although the overall steps to adding tradelines are similar. Below is a step-by-step guide on how to add tradelines to your credit.
Select a Tradeline Company
Once you have done proper research, you will select a tradeline company that caters to your needs and fits your budget. If you are working with a seasoned tradeline, you will pay more for their services. You can select multiple tradelines but remember that quality beats quantity. Therefore, if you can afford it, buy a couple of quality accounts instead of multiple low-quality ones.
Go Over the Contract Before Signing It
Please read the contract and make sure you understand it before you sign it. It is worth mentioning when you buy a tradeline, you are renting it for a specific period. This means that you will be added as an authorized user to the account for the agreed period. The tradeline company usually gives you a lease or rental agreement stating your rights. Carefully go over it before you sign, and if you have any questions, ensure you contact the tradeline company and only sign the contract when all your questions are answered.
Once you have selected the tradelines you want and have signed the contract, you have to go through with the payment process, which is pretty straightforward. Most trading companies have a secure payment process that allows you to complete your purchase online. Very few tradeline companies will require you to complete the payment process over the phone.
Some tradeline companies will require you to provide them with copies of specific documents. This may include your social security card and driver’s license. This process is straightforward because you will upload the required documents from your computer to their system. It would help to confirm that their website is secure before you try to upload your documents.
Check your Credit Report
When your transaction is complete, you will wait for it to reflect on your credit report. Most tradeline companies will keep you updated when your credit history improves, but it would also be best for you to monitor your report to ensure that they are delivering what you paid for.
How are Credit Limits and Utilization Ratios Affected by Tradelines?
A tradeline can impact your credit card utilization rate and credit card limit but in different ways. It would be best if you only used a tradeline to improve your credit card score and nothing else. For instance, a tradeline cannot improve your chances of getting a higher credit limit because banks typically use your income to determine if they should increase your credit limit.
However, a tradeline can improve your credit utilization ratio. This means that it can improve your chance of qualifying for a mortgage. It would be best to use a tradeline as a temporary solution and not a long-term solution. Ensure that you are working on building your credit score.
Authorized Users: Is Piggybacking Credit Still Effective?
Credit piggybacking is when you are added to another person’s account as an authorized user to improve your credit history. Piggybacking is effective and is a better alternative to repairing your credit on your own, especially if you have an immediate need. Note that there is a significant difference between buying a tradeline and being an authorized user through a family member or close friend.
Piggybacking on the account of someone you know means that you can do it for as long as they allow you. The two of you can have an agreement on what you can do with the account. On the other hand, when you buy a tradeline (i.e. authorized user tradelines), you temporarily rent a stranger’s excellent credit. This lasts for a short period, and you have no access to their account. Whichever option you choose, when you decide to piggyback on someone else’s account, ensure they have good credit. It would also be ideal if they had good credit utilization.
Buying Tradelines: Common Mistakes People Make
Buying tradelines can significantly improve your credit, but if you are not well versed, you will end up making mistakes. Listed below are the common mistakes people make that you should avoid.
When buying tradelines, remember that the quality is what matters and not the quantity. You may have multiple tradelines which are low-quality, meaning they will not make much difference. You can buy as many tradelines as you want. Just ensure that they are quality tradelines.
Buying Unrealistic Promises
You need to work with a transparent tradeline company that lets you know what they are offering. It would be best if you worked with a company that offers real results. This could include improving your credit or shorter reporting periods. Avoid tradeline companies claiming to deal with specific tradeline types.
Buying the Wrong Tradelines
Please do not buy a tradeline because the offer is appealing or it is cheap. You are more likely to regret such a decision. Tradeline companies operate in the same manner that other conventional industries operate, so you may have difficulty finding a legitimate seller. This is why you need to research and read multiple testimonials to make an informed decision.
Using Tradelines to Repair Credit
Do not use tradelines as a shortcut to credit repair. It is meant to be a temporary solution for improving your credit and nothing more.
Working with Random Companies
Most people who need a tradeline are usually in desperate need of help. Therefore, most of them are likely to work with the first company they come across. In most instances, they end up working with a company that does not even deliver on what they promised and is most likely a scam. Please do your research and only work will reputable and well-established companies.
There are various alternatives to improve your credit score that cost less. If you are not sure, you want to go down the tradeline route because you think it is risky. Listed below are some alternatives you can consider.
Apply for a Credit Card that is Secured
Secured credit cards work like traditional credit cards. The only difference is that when you are using a secured credit card, you must pay a cash deposit upfront. This card is meant for individuals who do not have a credit score or have a low credit score. You have to pay off the card monthly. After a specific period, your credit card issuer may consider upgrading your card to an unsecured card.
A Credit Builder Loan
Applying for a credit builder loan can make a significant difference. The loan helps you build and improve your loan payment history and gradually improves your credit score.
Have a Family Member Add you as an Authorized User
If your family members or even a close friend has an excellent score, you can request them to add you as an authorized user. This will improve your credit score, and the best part is that it will cost you nothing. They are also an individual you trust, and you will receive a card linked to the account. It would be best if you developed good credit habits and you also responsibly use your credit card.
How Trade References are Related to Trade Credit
When a company gives another company trade credit, it enables them to buy goods or services without actually paying up front. That partnership is represented throughout the trade reference – in other words, how that company manages their credit. The two are closely linked: you earn trade credit, and your payment history influences whether or not that company will share a good trade reference with you and your company.
It would be best only to buy a tradeline as a temporary solution to improve your credit history. If you are looking for a tradeline company, make sure that you have done proper research before narrowing down on the company you want to work with.
For full credit repair services we recommend Credit Saint.