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What is a Tradeline? Steroids straight into the heart of your credit score…

What is a Tradeline? Steroids straight into the heart of your credit score…

Adding a high quality “tradeline” has the chance to be the most effective way to quickly boost your credit score. Through a process called “tradeline renting” or “credit piggybacking,” may be able to you overcome your credit woes. Better credit gives you a better chance of being approved for a loan, credit card, home or even a job.

How a tradeline can help you

The term “tradeline” is industry slang for a credit account. A tradeline is created on your credit report when you borrow money from a bank or lender who then reports the activity of that account to a credit bureau, like Equifax, TransUnion or Experian. Failing to meet the requirements of the loan terms for that account or a tradeline can have a detrimental effect on your credit. Alternatively, meeting the loan terms with timely payments and responsible use can improve it.

When you decide to boost your score with an authorized user tradeline, it means that you are being added as an Authorized User to someone else’s credit card.

When choosing to boost your credit score in this way, be sure to look for a “seasoned tradeline” with a long, perfect credit history, high credit limit, and little-to-no balance.

What credit piggybacking entails

When you start the process of credit piggybacking with BoostMyScore, you will become an authorized user (AU) on one or more of our established credit cards. Each card has a high limit, low balance and long perfect payment history. When the history appears on your credit report – in less than 60 days, or your money back – your credit score will instantly increase.

Although you will not have the physical credit card or the ability to use the credit line, the history of the account will appear on your credit report. This is an effective, rapid, and safe way to drastically improve your score.

How much of a boost to expect

Because every person has unique credit needs and a unique credit history, every score boost is different. If you are considering purchasing tradelines from BoostMyScore, the primary factor to look at is the number of credit cards open on your credit report. The fewer that are open, the bigger the boost our superior tradelines will give to your credit score.

A direct correlation also exists between the age and the limit of the tradeline you choose to purchase from BoostMyScore and how much of a boost you will receive. Older cards with higher limits will help effect the limit-to-balance ratio (also known as the utilization ratio) and the age of the accounts that appear in your credit report. This ultimately gives you the biggest possible FICO® credit score boost in under 60 days.

The bottom line

Adding an Authorized User Tradeline from BoostMyScore to your credit report is just like shooting steroids straight into the heart of your credit score!

Hit a home run with your credit score: Piggybacking is the fastest, safest and most reliable method you can use to boost your credit score. BoostMyScore has an industry-leading method of piggybacking that is guaranteed to yield results in a short period of time. This unique method helps you get closer to buying the home or car you have always wanted.

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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BoostMyScore Team