How to Rebuild Your Credit by Adding Positive Tradelines?

If your credit score is low, you will find it difficult to qualify for loans and credit cards. You may also find it difficult to lease apartments and get jobs.

Many landlords now consider a person’s credit score before allowing them to rent an apartment. Through credit scores, they check if the potential tenants are responsible for their finances and if they will pay the rent on time. Many companies consider candidates’ credit score to see if they are careful with their financial situation and thus responsible people. Lenders consider the credit scores to check if you will be a responsible borrower and pay your loan installments or credit card bills on time.

So, it is very important to maintain a high credit score. If your credit score is low (for whatever reasons), you can still take measures to improve it. One of the best ways to raise your credit score is by using tradelines. But you need to ensure that you only deal with the best tradeline companies.

What is Tradeline?

A tradeline is an account that appears on your credit reports such as auto loans, mortgages, and credit cards. You can’t rely on new loans or new lines of credit to raise your credit score as you are not likely to qualify for one with damaged credit. But you can still use credit cards for this purpose.

For a credit card to qualify as a positive tradeline, it will need to have the perfect or extremely good credit history, low balance, and high credit limit. So, when you become an authorized user on such a credit card, its good history will appear on your credit report as well. It will then help improve your credit score.

Credit bureaus consider credit utilization on credit cards for calculating a person’s credit score. Credit utilization is the balance left on the limit. Ideally, it should not be more than 30%. The credit card you will use to rebuild your credit must also have an impeccable credit history. It means that it cannot have a history of late payments, no payments, less-than-ideal credit utilization ration, etc. To find such perfect credit cards, you need to deal with the best tradeline companies.

Becoming an authorized user on a family member’s or friend’s credit card is not ideal as it can backfire. If the person becomes erratic with his or her credit card use or bill payments, the card’s bad history will show up on your credit history as well. But if you choose a credible and reliable tradeline company; there are no such risks. You will receive tradelines with perfect credit histories.

Using Positive Tradelines to Rebuild Credit

Finding the right tradeline company –

First, you need to find a tradeline company. A simple online search can provide you with names of tradeline companies in your area. Check the websites of these companies to know more about them. The inventory (available tradelines) must be clearly listed on the website along with the credit cards’ details such as rates, credit limits, etc. The company’s address and phone number must also be mentioned on the website.

If you like a tradeline company, call them with your inquiry. Professional tradeline companies will always respond to your queries in a timely manner.

Purchasing the tradelines –

Once you have finalized a company, it is now time to purchase the tradelines. The best tradeline companies offer a free consultation to help their clients understand the process and to determine the number and types of tradelines to purchase.

Once you understand the process, you can select the tradelines (1 or more), sign the agreement, and make the payment.

Checking the results –

As you become an authorized user on the tradelines you purchased from the company; expect them to show up on your credit reports within two months or less. Choose only those companies guaranteeing such quick results. Otherwise, there is no use using tradelines to improve your credit. The tradeline that you buy must show up on at least one of your credit reports within the time period promised to you by the company.

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