So you’ve popped the champagne or perhaps shared a kiss with a special someone under a fireworks display. The new year is here, and it’s time to set resolutions for 2022.
Some popular resolutions include eating more vegetables, expanding your vocabulary, and improving your credit score. Although we don’t have any hot tips for including kale in your diet or remembering the meanings of polysyllabic words, we know how to help you achieve that third resolution.
More and more people and businesses are improving their credit scores without going into debt. How? With tradelines.
What Is A Tradeline?
When you pay off a debt, you create a tradeline. For example, if you pay off your student loan, you will have a tradeline telling how long it took you to pay off the loan and whether you made your payments on time.
Not all tradelines are good. Tradelines reflect your spending habits, good or bad. If you pay off your credit card on time every month, you will have a good tradeline that reflects your responsibility.
If you have not been able to pay off medical debt and have defaulted on loans, you will have a bad tradeline that reflects that story.
Having a good credit score is essential to so many aspects of our lives. We need good credit to get loans for our houses or cars, rent our homes, or even get jobs. Sometimes we find ourselves in a position where we need to boost our credit score fast.
We know that if we could bump our credit score up for a little while, we could get that loan that would get us or our business back on our feet.
How Tradelines Boost Credit Scores
Fortunately, there is a way to do this. That is by buying a tradeline. When people buy tradelines, they add their name to a good tradeline temporarily, creating a period of bumped credit score. During this time, the person who bought the tradeline can apply for a loan, job, or rental property, and when their credit score is checked, it will be artificially high.
It is important to remember that buying a tradeline can be a good quick boost to your credit score; however, it is not a permanent fix. This is why you have to understand why credit repair if needed is important.
The tradeline that you buy will only stay on your credit report for a short period of time, meaning that you need to use the period that you have the tradeline on your credit report to take other measures to improve your credit.
Another important thing to remember when you are trying to decide whether a tradeline is the best way for you to boost your credit rating is that not all tradeline companies are created equal.
Different tradeline companies sell different types of tradelines, and each type of tradeline has different pros and cons. Furthermore, the tradeline industry can sometimes attract some unsavory characters who are not honest with their buyers about the quality of the tradelines they are purchasing.
With that in mind, here is some guidance about how to find a good tradeline company and our top three tradeline companies for 2022. These companies have all been well-vetted and have a track record of helping individuals improve their credit scores.
Finding the Best Tradeline Company
When you are trying to find the best tradeline company for yourself or your business, there are a few things you should look at: Industry experience, transparency, and staff knowledge. If you find that the company is able to meet your needs in all of these areas, you should go ahead and start working with them. It is VERY important to if you are going to build credit, do it the correct way.
When making this decision, you should remember that even the best tradeline companies will not always work, and buying tradelines is a technique of credit boosting that is not useful in all scenarios.
Finding the best tradeline company means finding a tradeline company with industry experience. You want to find a company that has been selling tradelines for as long as possible and try to find independent reports from customers of the company.
Look at their ratings on the Better Business Bureau website to find out how they treat their customers.
Industry experience is important because you want a company that not only thinks about what tradelines will do for your credit today but also looks at the way your credit report will age with that tradeline.
You also want to ensure that your tradeline will be transparent about where the tradelines you are associating your name with come from and how they will age. Again, reviews are golden in this area.
You want to make sure that you are investing in a company that sources its tradelines well and that is committed to helping you improve your credit score.
While having a knowledgeable staff is beneficial in any business, when it comes to tradeline companies, experience is essential. You want a tradeline company that can match you with the perfect tradeline for your needs and set you on the right path toward a strong credit score.
Look for companies that have won awards for their customer service and gravitate toward those. We have weighed these three aspects: industry experience, transparency, and staff knowledge, and decided on the three top tradeline companies that you should use to boost your credit score in 2022.
These companies will help you achieve your new year’s resolutions and set you on the path to financial success.
Our Top 3 Tradeline Companies for 2022
These tradeline companies are recognized as giants in the industry of buying and selling tradelines. They pride themselves on giving their customers the best return on their investment possible while providing strong guidance and customer service.
1. Tradeline Supply Company
Tradeline Supply Company has been buying and selling tradelines for over seven years. Their strong industry experience makes them one of the most trusted sources for tradelines.
Tradeline supply company prides itself on offering low prices on seasoned tradelines, a type of tradeline that is generally very pricy.
How do they save their clients so much money? By automating many steps in the tradeline purchasing process, so that the company can cut down on overhead costs and allow their clients to easily purchase tradelines for below-market prices.
Their online system for buying tradelines has also made them incredibly popular online.They boost very high reviews on Google and many satisfied comments from customers.
BoostCredit 101 is a great choice for individuals or companies who are looking for a tradeline company that will teach them the tricks of the trade as they go. BoostCredit101 is a fantastic resource for people who want to know exactly what they are investing their money in and how that investment will impact their credit scores.
BoostCredit101 has a fantastic blog that answers many of the questions that their clients ask them and gives them lessons on tradeline buying to help them grow their credit score.
CreditPro has a B+ rating from the Better Business Bureau, meaning that it is a trusted business. It is also an established business since they have been in operation for 17 years.
CreditPro is an experienced business that has worked with thousands of individuals and businesses over the years on improving their credit scores.
CreditPro is a very transparent business. It offers its clients the promise that their credit lines have an impeccable payment history of over three years. This promise speaks volumes to the quality of tradelines they offer.
Even if you do not choose one of these three great tradeline companies, you should think about the things that make them great and use these parameters to judge the companies that you are considering buying tradelines from.
Remember, the result will only be as reliable as the tradeline company you purchase from, so if you want to improve your credit drastically, buy from a reputable company.
What are the Different Types of Tradelines?
At this point, you might be wondering, are all tradelines created equal? The answer is, unfortunately, no. Tradelines vary greatly, and you need to know what the financial outcomes you are trying to achieve are before deciding which type of tradeline you will buy.
What are Aged Tradelines?
Aged tradelines, which you will also hear called seasoned tradelines, are tradelines that have been aged. What exactly does that mean? These tradelines have been developing for many years, growing stronger and stronger while the primary user pays off the debt.
Aged tradelines are great for your credit report because they show that the debt on the tradeline has been consistently paid off for years.
What are Primary Tradelines?
Primary tradelines are tradelines that are held in your name only. Generally, you can get primary tradelines by opening a line of credit in your name and consistently paying off your debt. However, there are some people who sell primary tradelines.
This is generally a dangerous proposition to buy a primary tradeline because they can be very expensive, and they are sometimes not on the up and up.
The best primary tradelines for your credit score are primary tradelines that you create for yourself, for free. This is because primary tradelines can be a big gamble to buy, and they often do not pay off.
If you choose to buy tradelines, aged tradelines might be more expensive, but they are worth your time and money because they will improve your credit score without attracting suspicion.
What are the Pros and Cons of Buying Tradelines?
As you can see, there are many ways that buying tradelines can benefit you or your business. However, there are ways that buying tradelines can hurt you as well if you do it without adequate research. Here, we will go over some of the ways buying a tradeline can help or hinder you.
As we have mentioned, buying a tradeline (particularly a seasoned tradeline) can help you boost your credit score for a little while. This boost can help you get on your feet and start free primary tradelines independently. Let’s talk about some of the ways that boosting your credit score through a tradeline can help you achieve your goals.
1. Get Lower Interest Rates
People with good credit are often offered better interest rates on loans than those with bad credit.
2. Score Your Dream Job
More and more employers are checking their employees’ credit scores before hiring. Credit scores can help employers determine whether prospective employees are good at achieving their financial goals and whether they stick to their commitments.
3. Get Approved for a Loan
Most importantly though, having a good credit rating is essential to getting approval from a bank for a loan. Without a strong credit score, banks will be wary to lend you money as they will worry that you will default on your loan. Getting approved for loans is an essential step in buying a house, car, or any other significant purchase.
Of course, we do not want to make it sound like buying tradelines does not come with any risks. When you buy a tradeline, the company you buy from is not handing you automatic good credit. There are a few reasons that buying a tradeline might not result in good credit; it is important to take this possibility into consideration.
1. Banks Can Sometimes Tell
Even when you buy from a reputable company, banks sometimes can tell when a tradeline came from a purchase, and they will not approve your loan.
2. Buying from the Wrong Companies Can Hurt
Sometimes, companies are not honest about the source of their tradelines or the age of their tradelines. This can lead to unsatisfying results, such as loans not being approved or your credit score not changing at all.
Is Buying Tradelines the Right Strategy for You?
With all of this in mind, is buying tradelines the right strategy for you? Well, it depends on your goals. If you want to improve your credit fast, it might be a good choice, but if you are concerned about your bank finding out and that damaging your reputation, it might not be.
Are Tradelines Still Effective?
Paul Martinez is the founder of BendingDestiny.com. He is an expert in the areas of finance, real estate, and eCommerce.
Join him on BendingDestiny.com to learn how to improve your financial life and excel in these areas. Before starting this blog, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.