Have you recently received a letter from LVNV Funding LLC? LVNV Funding is a debt collection agency that purchases debt from creditors all over the country and then attempts to collect it. This may be due to a past debt that you have associated with one of your credit lines. The situation can be confusing...
When we look at all of our options to rebuild our credit score, tradeline companies come up. The best tradeline company allows you to borrow credit from them at a low interest rate while simultaneously building your credit score. People are always trying to raise their credit score due to future plans of purchasing property or even lowering interest rates on existing loans. Some credit boosting opportunities do not work for everyone, so it is important to exhaust all of your options before giving up.
Credit tradelines boosts have become increasingly popular amongst consumers, as not many people have the option of becoming an authorized user for free. Buying credit tradelines gives people the opportunity to have a place to start the journey to a higher score. Authorized user tradelines have done wonders for some, and many users swear by it. It might be worth giving it a try!
What Is a Tradeline?
A tradeline is basically a way to buy a spot on someone else’s credit line. It holds a very similar premise to an authorized user. Typical parents or family members will allow you to be an authorized user on their credit line for free. You will be able to reap the benefits of a nicer credit card and have a higher credit limit. Not everyone has this luxury at their fingertips. Credit tradeline companies sell you the right to be an “authorized user” on someone else’s account. Many consumers use tradelines for bad credit when they are looking to rebuild their score.
Tradeline companies, also known as piggyback credit companies, are more common than you think. You have most likely already used the concept of primary tradelines without even realizing it. Most loans are technically tradelines, including mortgages or auto loans. These loans all take a piece of your credit report to boost your credit score. The only difference with the best tradeline companies is that you have to buy a spot on the credit report, and it does not come for free.
The 3 Best Tradeline Companies of 2022
With the long list of the best tradeline companies available to consumers in today’s day and age, it has become a difficult task to choose the right company. Each company has their own perks and valuable features that make them unique. Here is a list of our favorite companies for 2022.
Tradeline Supply Company
- So many tradelines for sale with major credit card companies
- Provides the opportunity to buy tradelines and sell tradelines
- They frequently offer package deals and discounts to purchase cheap tradelines
- An extensive list of educational resources listed on their website
- The large and reputable company since they have been around for years
- No professional advisor to guide you through the process
Tradeline Supply Company is a legit tradeline and is the leading niche fintech platform that was designed exclusively for the tradeline industry. Over the years they have built the world’s largest peer-to-peer tradeline marketplace, servicing both direct to consumer business and supporting the secondary tradeline reseller market.
Tradeline Supply Company, LLC aims to reduce financial inequalities and promote equal credit opportunity by advocating for the rights of our clients to have access to the same credit-building techniques that many others have had access to for over 40 years. There are so many options to buy tradelines online!
Tradeline Supply Company is a pioneer in making it possible for consumers to purchase tradelines 100% online with an easy automated checkout process. By leveraging innovative technology, they have been able to cut costs and streamline the process, which ultimately makes this strategy available to more consumers. They also have the option of selling authorized user tradelines for people. Being a broker or an affiliate is a great option for just about anyone to help spread the word about our program and receive commissions or referral fees for helping the surrounding people. There is no cost to join, and you can get paid to help people. Their website is loaded with educational content as well so that you can build your credit on your own time. Many tradeline companies do not provide this option. They are truly one of the best-seasoned tradeline companies.
- Large variety of tradelines for sale with many options to choose from
- Customers have a professional advisor to consult with
- Resources are available on their website for credit education
- The company has been around for an extended period of time, so they are trustworthy
- Does not have the option to sell authorized user tradelines
Boost Credit 101 has a large variety of authorized user tradelines for sale. Their affordable tradelines make them one of the best tradeline companies in 2022. One of the interesting things about this specific company is that it has a step-by-step process once you commit to signing up.
The first step is a consultation with a professional. The professional will explain the process to you and guide you through choices that you will have to make down the line. They will take into consideration your credit history, so they can find the perfect tradelines to boost your credit score. The consultation is the most special step in this process because it is truly unique to Boost Credit 101.
The second step of the process is reserving tradelines. They hand-select the best options so that you can buy seasoned tradelines. With all of their options, you can filter through seasoned tradelines for sale, tradelines to build credit, cheap tradelines for sale, and more!
After you and your advisor have completed buying seasoned tradelines, you will then need to sign a contract to get the process rolling. Once everything is set, you will have your name added to your own credit card to use! The tradelines will then be posted, and you will be able to watch your credit growth results in no time. If you are satisfied with the process, you can even add tradelines to boost your credit score even more.
- So many tradelines for sale with major credit card companies
- A large variety of highly aged credit lines are available
- Provides the opportunity to buy tradelines and sell tradelines
- No professional advisor to guide you through the process
- Lack a list of educational resources for consumers to use
CreditPro is a tradeline wholesaler with a multitude of authorized user tradelines for credit enhancement. They have recently tripled their tradeline inventory and now have credit lines for up to $80,000 with over 25 years of history. These are truly aged tradelines. Because their inventory is vast, you can choose the perfect tradeline for yourself. They have over 2000 cards from 5 years to over 30 years old. Their tradelines are available at amazing rates for auto loans, mortgages, and additional lines of credit. You are really able to trust in CreditPro as a legit tradeline company because they have been around since 2007.
CreditPro claims to help boost FICO scores by adding tradelines with perfect payment history to clients’ credits. Resellers can expect to pay up to sixty percent less than other tradeline providers. Their cardholders place consumers as authorized users for 60 to 90 days on a CreditPro updated tradeline. Many other clients only allow this for up to 30 days. Their tradelines have very low utilization ratios, and you can trust that they will always be under fifteen percent. The company is also extremely fast at posting. You can often expect tradelines to begin posting in as soon as five to seven days. CreditPro is on top of the credit industry!
Is it legal to use tradelines to increase credit score?
Buying credit tradelines is perfectly legal. When finding a company you trust, you will come across many tradeline scams that do not do what they say. It is important to be wary of these companies so that you do not fall into their traps. Make sure you are reading reviews and testimonials so that you are sure you can put your trust in the company. Do your research and find out where each company is getting their tradeline brokers from. If you cannot find information regarding this, it is most likely not a legit organization.
The practice of using tradelines is done all the time, and credit bureaus do not mind how you raise your score. As long as it is done legally, you are good to go. It is no different from becoming an authorized user on a friend or family member’s credit line. Not everyone has this luxury, so this automatically becomes the next best step. Once again, just make sure you are purchasing quality tradelines from a trusted vendor. Many scams exist on the internet, and you do not want to fall victim to this offense. Do your research!
4 Benefits of Buying a Tradeline
There are so many benefits to buying tradelines. The whole purpose is to give you access to amenities that you would not usually have with a lower score. Here is a list of benefits that might convince you to consider applying for a tradeline.
1. You have access to higher credit limits
Typically, when you apply for a credit card with a lower than average score, you are stuck with a very low credit limit. This is because your credit score is basically a rendering of how likely you are to pay back loans. The bank will probably not have much trust in you. When buying a tradeline, you will actually be able to utilize more credit. This would have been impossible beforehand.
2. You have access to credit card benefits
Most people with a low credit score are subjected to a secured credit card when applying for a card. This special type of card requires you to pay a deposit before being able to use it. The deposit becomes your credit limit, and the card is basically used as a debit card. These cards typically come with no benefit. When using a tradeline, you will actually have the benefits that you were not able to get prior.
3. You have access to aged credit lines
For those who are initially building their credit, all of their credit lines are young. The younger the credit lines, the lesser it will positively affect your score. When you begin using tradelines, you will be a user on other’s credit lines that have existed for much longer. The benefits of this will last on your credit report for a long time and will ultimately increase the average age of all of your lines.
4. It boosts your credit score
At the end of the day, this is what tradelines are used for: building your credit score. Tradelines allow you to create a positive payment history to boost your score. It is so useful in the long run because you get access to so many amazing resources and benefits. Some people even see an immediate score increase once their tradelines are posted!
How Long Do Tradelines Stay on Your Credit Report?
The amount of time a tradeline stays on your credit report can vary. Every tradeline will remain on your report for at least seven years, but there are many reasons they may appear for longer. If an account is still active, that tradeline will continue to be shown; for example, a mortgage tradeline for sale will be open and visible at least until the mortgage is fulfilled. Luckily though, positive tradelines will remain longer than any negative ones.
If an account is closed with a negative history, these types of tradelines will remain for seven years. When an account is closed in good standing, or with a positive history, each reporting agency will decide how long the tradeline remains on your credit report, but the average for this is around ten years. If there is anything on your credit report that is wrong, or you think may be fraudulent, you can dispute it, and it will be wiped clean from the report within 30 days of you supplying the proof.
How much do tradelines cost?
The price of a tradeline can vary from the age of the tradeline as well as the credit limit attached to it and the availability of the tradeline. The longer a tradeline has been around and the higher the credit limit you have, the more expensive the upfront cost will be. Don’t worry though, some of the best tradeline packages are very affordable and can help improve your credit score. Tradelines can range in price from around one hundred dollars all the way up to over two thousand dollars.
This range depends on the reliability and usefulness of the tradeline, but it does not mean that a less expensive tradeline is not as good as the most expensive option. Many factors contribute to the cost of a tradeline. If you are looking to purchase a tradeline, be sure to look at all the options and determine which is the best option for you personally, much like shoes, one tradeline does not fit everybody.
How to choose the right tradeline company?
When making any purchase, it is important to do your research. Tradelines are no different. If you were looking to buy a car you would research the make and model as well as the dealership you were looking to buy from. The tradeline company you purchase from is just as important as which tradeline you decide to buy. There are many things to consider when picking your tradeline company, some things to look for are:
- Credit Limits — You will want to make sure that the tradeline company you pick has credit limits that fit your purchase needs.
- Reviews — since tradelines can greatly impact your credit score, you want to make sure that the company that you decide to work with is a reputable one. The easiest way to do this is by checking out the reviews of other customers.
- Experience Level — It is important to pick a company that has the knowledge and experience when it comes to buying and selling tradelines. As a rule of thumb, it is best to find a company that has at least ten years of experience.
- Customer Support — Check out their customer support. Everything ranging from FAQs to chatbots should help you make the right decision. The company that you work with must be there to support you in any way they can.
These are just some aspects of a tradeline company to consider before deciding to make a purchase. Like any other purchase, the more research that you do will lead to the more peace of mind.
How to buy tradelines?
Purchasing a tradeline is just as simple as any other type of online shopping. Once you find a trusted company, browse all of their available products. Tradelines that are aged or have higher limits will obviously be much more expensive. Choose the product that is the right fit for your needs. When you have decided on the tradelines, you can simply add them to your cart. You may have to agree to some terms and services on the way.
The website will prompt you to enter some personal information about yourself and your bank account. This way they can connect the tradeline to you without any issues. Once all the information is approved, you can easily submit your purchase, and you are good to go! Do not be nervous about making a purchase. Deciding what tradelines you want will be the hardest step of the process.
Buying Tradelines for sale — Top 4 mistakes
Buying tradelines is a fairly common practice; they can improve credit scores and build a payment history. However, there are still some pretty common mistakes that people tend to make when buying tradelines. Here are our top 4:
- Expecting Results Too Quickly — People tend to think that as soon as they purchase a tradeline their credit score will increase, but this is not the case. The impact of purchasing a tradeline can take up to 30 days to see an improvement, but it is important to note that there will only be an improvement if you purchased a tradeline that can improve your credit score; not all of them will.
- Not Understanding Tradelines — Without the right research there are plenty of mistakes that can be made with purchasing tradelines. People who do not have much knowledge about tradelines can sometimes overbuy, spending on the wrong tradelines, too many, or some that may not help improve their credit.
- Thinking Tradelines Automatically Repair Credit — Credit scores are confusing, and many people do not fully understand them. Tradelines do not just add a certain number of points to your credit score, in fact, they alone do nothing to repair your credit score. Tradelines add information to your credit report and that has the potential to increase your score.
- Adding Bad Tradelines — It is useless to add tradelines while there are fraud alerts or credit freezes on your account. If a credit agency has flagged your account with either of these things, any tradelines that you purchase will not be added to your credit report. Before you purchase a tradeline, make sure that your accounts are clear from all flags and alerts.
How are Credit Limits and Utilization Ratios Affected by Tradelines?
When you apply for an additional credit limit by yourself, and you have an existing low credit score, you will notice that you will not get far when it comes to credit limits and your utilization ratio. Your credit limit will typically be low because the lender has not yet formed trust due to your score. If you have expenses to pay, this typically means your utilization ratio will be high. You will most likely be spending a decent chunk of your limit because it is so low.
When you use a tradeline, it comes from a source that has an existing credit report in good standing. The credit limit that you will receive will be much higher than what you would expect on your own. Now that you have access to such a high limit, your credit utilization ratio will be much lower than before. You will have the same amount of expenses but a higher amount of spending potential. It is always good to keep your utilization ratio low, so this will positively impact your credit score.
How to Get Added as Authorized Users
The process of getting added as an authorized user is not a tricky one. The hard part is finding the right person that would be willing to take on that responsibility. This will need to be a trusted person in your life. However, they would also need to have trust in you. This is because you have the potential to ruin their credit score if you do not stay on top of your payments.
Once you find someone willing to take you on, all they need to do is contact their credit card company. They can request to have an authorized user on one of their existing cards. A card with your name on it will then be issued through the mail. You will be able to use the card, but will not be able to make any changes to the account as you are not the primary cardholder. You will also only be able to use the card in the limitations that the primary cardholder has set for you.
As helpful as tradelines can be, many alternatives can also help you build your credit score. You do not need tradeline accounts to build your credit. Here are some examples of alternatives if you are not ready to purchase a tradeline yet.
Become an authorized user
Becoming an authorized user is the most obvious alternative to a tradeline. It is basically the same premise, but you have the opportunity to do it for free. Talk to a parent, guarding, trusted friend, or family member and see if they would be willing to take you on as a responsibility. Make sure this person has a good report with their existing line so that it does not negatively affect your own credit score.
Credit builder loan
A credit builder loan is exactly what its name states. It basically takes on the role of an artificial loan to give your credit a potential boost. What happens is you take out a loan with a credit-builder lender, but they do not actually give you the money upfront. You make your monthly payments with a low interest rate, and then they provide you with the money you borrowed once it is all paid off. The lender can have trust in you because they have collateral.
Secured credit card
A secured credit card is another common way that people begin to build their credit. The card is basically an option for people without credit or low credit to utilize a credit card. They do not require a high score because it is necessary to put down a deposit as collateral. The deposit becomes your credit limit, and you can only use up to that amount before needing to pay it back. This method can initiate credit and rebuild existing scores.
Build your credit from scratch
If all else fails, try the old-school method of building up your score. This can be a combination of many different methods, including making payments on time, making frequent payments, keeping your credit utilization low, linking all of your previous and current bills to your credit report, etc. These are all foolproof ways to give your credit score a healthy boost.
Try using a credit builder
If you are struggling to build up your credit, maybe it is time to have a conversation with the professionals. Credit builders are organizations designed to help you with your credit repair. They have many tools that they use that the average person does not have access to. They can scan your credit report and remove negative remarks that do not belong. The website such as LexingtonLaw.com is a good example of a reputable credit repair firm.
With all the methods to boost your credit, it is necessary to find the approach that works best for you. In many cases, tradelines work for a large majority. Many people affirm their benefits and would recommend tradelines to all of their friends. After doing your research, consider purchasing a tradeline to help your report. Your credit score will thank you!
A primary tradeline is a credit account that is opened in your own name, in which the creditor extends credit to you as the borrower. When you open up a credit card on your own, you have a primary tradeline. This means that you are responsible for the transactions that occur on this tradeline.
Tradelines are meant to boost your credit. If you earn a positive payment history after purchasing a tradeline, your score has the potential to increase. It acts as an additional credit line to add positive information to your report. Tradeline credit repair is a real thing!
There is no real way to get free tradelines from another business. This is because they would not earn any money by giving you the tradeline for free. The only actual way to get a free tradeline is to open up your own credit line accounts that technically are also tradelines. The issue is that applications find it tough to be approved with a lower credit score.
The amount of points that a tradeline can boost your credit score truly depends. If you have a tradeline for just a couple of days or weeks, your score might not increase that much. If your tradeline lasts a couple of months, it will go up much higher. Usually, a long tradeline can boost your score up to 50 points! That can definitely put you into the next bracket. Feel free to purchase multiple accounts if you need your score to go up even higher.
Founder of Credit Repair Partner. I worked in the credit repair industry for about 10 years. I love, helping people become smarter about their credit and finances.