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But what about the bank underwriters?

Many people ask about whether the bank will notice if they boosted their credit scores using tradelines. So, let’s think about this logically. Simply because you have one – or several – authorized user tradelines on your credit report should not raise any “red flags” with the bank underwriters. This is because the law protects consumers. It’s also because AU tradelines are extremely common to see in a credit report.

Even if the bank underwriter chose to violate the law and ignore the existence of the AU tradelines in your credit report, it is nearly impossible for them to physically change your credit score. Obviously, nearly every loan approval is based on the credit score. Therefore, you should still be in a good position to receive a loan approval. Just be sure the rest of your application meets the underwriting requirements (income, job history, etc).

BoostMyScore to help buy tradelines

Your credit score contains vital information. Information that will affect your financial well-being for the rest of your life. Educating yourself about your FICO® score and your credit report is critical. Here’s how to buy tradelines and how to choose the best tradeline company.

Working with BoostMyScore is an amazing way to empower yourself and improve your financial standing.

Call BoostMyScore today at 1-800-531-1472. Take the first steps on the road to improving your credit score.

Bill Airy

About the Author:

Bill Airy is the CEO and Founder of BoostMyScore. For over 12 years he has helped American consumers get a second chance at a better financial life by helping them to improve their credit score. He regularly publishes helpful content on this Blog to educate others about Credit Scores and best practices when trying to improve them.

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What Happens to My Credit Score if I Max Out My Credit Cards?

Is it Worse to Max Out Your Credit Cards or Pay Late?

A while back we were playing with a credit score simulator on CreditKarma.com and found some interesting things.

What Happens to My Credit Score if I Miss a Credit Card Payment?

First, we did a simulation of “if I were to pay EVERY account on my credit report late by 1 month” and the results are below:

Ouch…160 points lost in 1 single month.  Honestly, not as bad as we were expecting. Don’t get me wrong, 160 points is a big drop, but we honestly expected to see worse results for being late on EVERY account on our credit report.

What Happens if I Max Out All My Credit Cards?

Now, we ran the simulator for a comparison to see what would happen if, instead of going late, we maxed out all our credit cards to 100% utilization….drum roll……

max out credit cards

DOWN 271 POINTS!!!!!!!!!  Obviously maxing out credit cards is far worse than paying late in terms of the negative results to your credit score.  However, you must keep in mind that the late payments are going to negatively affect your credit score for several years, whereas the maxed-out cards, once paid down, will be like they never existed to the credit scoring model.

What Happens When you Carry a Balance on Your Credit Cards at Different Levels?

The reason for this experiment was really to see what maxing out cards can do to a score.

We decided to see what effect the utilization ratio has on the credit score at 10% intervals.  We did 90%, 80, 70… all the way to 5% and the results are VERY interesting! Take a look:

  • 90% = down 235 points… going from 100% to 90% increased the score 36 points:
  • 80% = down 167 points…dropping it down to just 80% was 104 points difference versus 100% utilization:
  • 70% = down 163 points…4 point gain
  • 60% = down 160 points…3 point gain
  • 50% = down 152 points…8 point gain
  • 40% = down 93 points…turns out that dropping below 50% is a real big turning point.
  • 30% = down 82 points
  • 20% = down 69 points
  • 10% = down 32 points
  • 5% = down 7 points

Improve your credit in record time with a tradeline from BoostMyScore.

Thousands of people enjoy the benefits of a lower credit utilization ratio with the help of a tradeline account from BoostMyScore. The results are almost immediate, and our services are guaranteed. If you are tired of paying higher interest rates and are ready to see what life is like with good credit, call one of the highly trained specialists at BoostMyScore today at 1-800-531-1472.

Do Authorized User Tradelines Still Work?

Do AU Trade Lines Impact Credit Reports?

Despite fear and anxiety to the contrary, Authorized User tradelines continue to report to the credit bureaus and impact millions of credit reports.

According to the study completed by the Federal Reserve Bank, “…creditors may have to consider all authorized user accounts on an individual’s credit record, regardless of whether they reflect a spousal relationship to an account holder. For this reason, credit history scores, such as the FICO score®, have traditionally accorded authorized user accounts equal weight to the other accounts on an individual’s credit record. If the account has desirable characteristics (such as a low utilization rate or a good payment history), this may improve the authorized user’s credit risk profile and credit scores. The result may be enhanced access to credit and reduced borrowing costs.”

Additionally, the Fair Isaac Corporation (FICO®) also confirmed in Congressional testimony, “After consulting with the Federal Reserve Board and the Federal Trade Commission earlier this year, Fair Isaac has decided to include consideration of authorized user tradelines present on the credit report in the FICO 08 model.”

Improve your credit in record time with a tradeline from BoostMyScore.

Thousands of people enjoy the benefits of a lower credit utilization ratio with the help of a tradeline account from BoostMyScore. The results are almost immediate, and our services are guaranteed. If you are tired of paying higher interest rates and are ready to see what life is like with good credit, call one of the highly trained specialists at BoostMyScore today at 1-800-531-1472.

Do you work on business credit?

All our Authorized User trade lines are personal credit cards. While we cannot help build your business credit profile, building your personal credit first can be a huge help in obtaining business credit.

Also, keep in mind that business accounts typically only report to the business reporting agencies, Dunn & Bradstreet, Experian Business, and Equifax Business, and not to the personal credit reporting agencies (ExperianTransUnion, and Equifax), and therefore do not help your personal FICO® score.

Got a Question with no answer? Speak to one of our specialists instead

BoostMyScore Team