Are you struggling to access credit? Perhaps your credit score has a few issues that prevent you from getting a mortgage or a loan? Or you are a new business without a credit history. In all of those cases, buying great-value, low-price tradelines can be a solution.
What Is A Tradeline?
A tradeline is one record of activity on your credit report. When you are approved for a new credit card or a loan, a new tradeline is added to your account. Credit reporting agencies use these records to calculate your credit score.
Each credit account has a separate tradeline. That means, if you have a mortgage and two credit cards, your credit report would have three lines.
Tradelines list information about the lender, the type of credit, and the creditor. They also contain the payment status, making it clear whether you are staying on track with your payments or have fallen behind.
Why Do You Need To Buy Tradelines?
Your credit score has an impact on every credit application you make. Missing payments a few years ago will continue to influence your score negatively. Depending on how bad your credit score is – and often not having a credit score is worse than bad credit – you may not be eligible for loans and other forms of credit.
Buying tradelines is a simple way of improving your credit score fast, at a reasonable rate. Consider this informal scenario: if you have no credit score or a bad score, one way of improving your rating is for a family member or a friend to add you as an authorized user to one of their cards. This is then added as a tradeline to your credit report, where it remains if you remain an authorized user. You are piggybacking on their excellent score.
Buying a tradeline formalizes this scenario, only this time you don’t know the owner of the tradeline personally. Plus, you are paying them for access and use.
When Is Buying Tradelines The Best Solution?
As a credit-building strategy, adding tradelines to their credit score used to be open to a limited amount of people. You needed a friend or family member with good credit to be added as an authorized user.
With the advent of internet-based tools, buying tradelines and adding them is now available to anyone as a way of building a better credit score. By moving the entire tradeline purchase process online and leveraging brand-new technology, improving your credit rating has become automated, easy, and affordable.
Apart from boosting your existing credit score, adding tradelines can help you secure a car loan or a mortgage for your dream home. The last two years have been particularly difficult for small business owners. Getting access to business loans is tricky, especially without a track record. Buying tradelines is a fast way of securing a credit rating that appeals to other lenders.
Compared to credit repair which deals with removing negative credit from your credit score, buying tradelines works fast. That means you get faster access to the money you need to make your dreams come true. Click here for more information.