If you are someone who has just entered the world of tradelines and you are trying to figure out how to navigate it, we’re here to help. You might even be someone who is familiar with how tradelines work, though you just want to get some information on what to look for when you begin your selection process.
If that’s the case, you have also come to the right place.
There are a few things to consider when you begin looking for tradelines:
- The credit limit of the tradeline
- The age of the tradeline
Since all other variables should be equal when it comes to your desired tradeline, including the low utilization rate, a perfect payment history, the reporting date of the account, and the type of account, which is typically a credit card, narrowing the right ones down isn’t that difficult.
Of course, it is very important that you find the right tradeline company that is reliable. The bank that you choose isn’t a huge factor, though if you have unpaid collections from that bank, or if you have been blacklisted due to a bankruptcy filing, you may want to go with another bank.
So if there are only two simple variables to put into consideration, what is it that makes people feel wary about buying tradelines?
Credit Files
We believe it is that credit files are complex, especially for those who have a long history of credit. Many of us have a variety of different data points on our credit files and all of that data factors into our credit score calculations.
Everyone has a unique credit file, which can make it difficult to figure out how a tradeline is going to affect you personally. There are also multiple credit scores to look at, each of which uses a variety of different data points that come together using complicated algorithms to give a person values on his or her report.
This is why it is very important not to just look at the price of a tradeline when you are buying, but instead look at the age and credit limit to see if it is the right choice for you. You have to understand the data that you already have on your credit file to see how tradelines could play a role in your overall credit score.
So, Is It Complicated?
Buying tradelines is not complicated, you just need to understand that you may not need the same, superior tradelines that another person needs, as the buying process is completely dependent on a person’s situation. The reason why people believe it is complicated is that they are not educated on how the tradeline system functions. This is why so many people end up choosing the wrong tradelines, which ultimately hurts them more than helps them.
Luckily, we here at Boost Credit 101 know a thing or two about tradelines, so make sure to get in contact with us if you have any questions about the tradeline buying process!
