Many people don’t spare much thought for their credit score. It’s a three-digit number attached to your credit file, calculated by how many financially responsible or irresponsible decisions you’ve made. Sometimes, it’s not until you try and take out a credit card, a loan, or a mortgage, that you realize how essential this number can be.
Fortunately, there are a multitude of ways you may be able to improve your credit score, with one being seasoned tradelines. However, if tradelines are something you’ve been considering, it’s important to ensure you avoid making the following mistakes:
There’s often no harm in searching for a bargain, but purchasing authorized user tradelines is an example of when this shopping style may not serve you well. Buying the cheapest tradelines, rather than the most seasoned, may mean your credit score doesn’t change as much as you might have hoped. In many cases, there’s a reason why some tradelines cost more than others: they have the potential to have the greatest effect. Instead of buying a large number of cheap tradelines, buy a smaller number of more expensive ones.
Not every company selling user tradelines is going to be one you can trust. Sometimes, you can be so immersed in trying to improve your credit score that you take every company at their word. Instead, do your homework on each website you visit. Read reviews, check out customer ratings, and see if they have any social media with real customer comments. You may even enjoy peace of mind if a company offers a money-back guarantee.
After researching ways to improve your financial situation or credit score, you may have stumbled across tradelines by accident. It’s important to do your homework to learn what they are, what they do, and how to choose the best user tradelines for you. Having base information may allow you to make better decisions regarding who you choose to purchase them from.
If you have a credit freeze or fraud alert on your account, you may think that a seasoned tradeline can solve the problem. While there are many ways to improve your credit score, nothing can if your account is frozen. The only way to start improving your credit score in this situation is having the fraud alert removed, and your account unfrozen.
To gain the greatest benefits from an authorized user tradeline, it pays to have a general understanding of how their ages work. Purchasing a five-year-old tradeline for your 10-year-old account may have very little effect on your score. However, if the ages were reversed, you may see even better results. Before you start shopping for tradelines, find out how old your credit account is. You can significantly narrow down your options this way.
Many people see the value in using user tradelines to improve their credit score. After all, they may be the difference between being able to secure a home loan or not. However, it’s crucial to do your homework to avoid wasting money on something that may not produce the results you desire.