Primary Tradelines and Authorized User Tradelines
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What is an Aged Primary Tradeline?
An aged primary tradeline is a tradeline/credit line that is created in your name (much like a regular line of credit) that has been backdated by the vendor to make it appear that you have had the corresponding credit line open for an extended period of time.
When are Aged Primary Tradelines Needed?
People seek aged primary tradelines when they are trying to achieve a specific credit score in order to get approved for a loan.
Do Aged Primary Tradelines Work?
When and If aged primary tradelines post they should have a very dramatic effect on your credit score, of course this score improvement can be greatly affected by other items on the client’s credit report.
PRIMARY TRADELINES FOR BUSINESS FUNDING
A seasoned primary tradeline simply refers to a line of credit that has existed for a given period of time, thus it has an established history.
A wise man once indicated that ‘there is a solution to all problems, depending on how you look at it’. Deadlock for businesses seems to arrive when they need funding for operations, only to realize what they have in their coffers is not enough to cover half the task. So what to do? Sit and wait for a miracle, or make it happen? If you choose the latter, congratulations, on you having chosen to move your business forward no matter the odds! The solution for your business funding problems lies in building a creditworthy score that guarantees loan approvals in the fastest time possible. For banks and statutory financial institutions, the acceptable credit score is anything above 750. Those with anything below this have a very hard time proving their credit worth-time, which is essential if your business is to get the funds required in good time.
How do seasoned primary tradelines help?
To counter this, all you have to do is call us for primary tradelines that can help build your credit score without taking up your time, money or energy. These are credit lines extended by willing lenders to clients with low credit score to help them boost it and facilitate business operations as well. They are an incredible source of funding, especially for startups that often need financing only to be hindered by non- existent credit ratings. This is a chance to redeem your business, but only if you are disciplined, trustworthy and timely. We help you find ideal primary tradelines, but they can only be helpful to your credit ratings if you pay the full amount on the agreed date, so the lender can make positive remarks that will definitely be a plus to your ratings. Our company understands how difficult it can be for an entrepreneur to find such lines of credit on their own, which is why we have keen, experts who study your business model, its financial position and ability to repay in a bid to find the ideal tradeline. It doesn’t take forever to get you an answer because time is important to any business man-you only have to wait 48-hours before getting feedback to allow faster progress. Our shelf corp is top-notch and since there are no financials or DNBs required, the application process is pretty simple.
Factors to consider
Do not sit back and watch your business plummet, but rather, invest your money in a reliable tradelines service like this to see your venture soar high. We make sure that every primary tradeline is offered by credible lenders who actually make reports to credit bureaus like Equifax and Experian to ensure that clients benefit from the tradelines. Working with us definitely safeguards your business future as by gradually improving your score, nobody-bank or government-can deny you credit. Nowadays, they are being used to improve the credit score of another individual who may not have a good credit score. This is done by attaching the said individual to that line of credit as an authorized user. Therefore, the new credit line improves the credit score of the individual. The benefits of a better credit score are numerous, with the main one being that one is more likely to succeed in getting new credit. However, access to new credit does not just rest on the credit score, since there are more procedures to go through. This service has opened up new business opportunities in this market. There are companies to help and offer authorized user tradelines for sale between creditworthy individuals who are ready to add a third party to their account and an individual looking to improve their credit score. This service is done at a fee of course, with the account holder receiving a share of the pay and the company keeps the other share as revenue. It is allowed for an account holder to add other authorized users to the account, regardless of whether they are their spouse or not.
However, one should be careful before paying for such a service since plenty of related scams have been reported. It is important for one to ascertain that the said company exists and that it is involved in offering such services. Be sure to look into their history since if they have scammed other people then they are likely to do the same to you. Therefore, check into whether they have had serious complaints lodges against them. Once the fee has been paid, it is regular practice that a contract is offered from the company based upon the federal law. Once you have settled on going through this route, then it is best to consult with the experts to ensure that you select the appropriate tradeline. It does not simply involve attaching yourself to any line of credit; rather, calculations have to be done to ensure that the selected credit line helps you in improving your credit situation. Contact us today for a chance to interact with knowledgeable teams with a guarantee that you only pay when you get positive results. Our process is straightforward, and we are keen on getting results rather than gaining money from desperate customers. Try us and see for yourself the prospects of success that we present.
Authorized User Tradelines
Authorized user tradelines are simple in theory (you add individuals as authorized users to credit cards in good standing and their credit scores increase). However, the practice of piggybacking authorized user tradelines becomes more complicated when it is applied to the unique nature of individual credit reports. As such, we dedicated this page to explaining the process and answering the most common questions concerning authorized user tradelines.
Updated for 2022 – This information is current
There are many myths, misconceptions, and misunderstandings about what an Authorized User Tradeline is and how to use it properly. Some say that it helps your Credit Score, some say that it hurts your Credit. Most people are using these seasoned tradeline accounts as a way to improve their FICO scores or to start building a Credit History. First, you must understand how your credit score works, then you can start working to improve your credit. But like most good things, there are people out there who exploit them for bad. We are here to give you all the facts about Authorized User Accounts and explain how to properly, legally and ethically become an Authorized User on a Credit Card so you can adopt a seasoned tradeline on your Credit Report.
What is an Authorized User Tradeline?
An Authorized User is someone who is “authorized” to be on a Credit Card Account. This means that they are authorized to talk to the bank about the account, make payments on the account and agree to the account reporting on their Credit Report. When you become an Authorized User on someone’s Credit Card account, you agree to adopt the future and past credit history of the account. Some people call this a Seasoned Tradeline, since you are adopting the credit history and past payment history of the account. This means that if the Credit Account has been open for 8 years, has always been paid on time, once you become an Authorized User on the account, you will adopt the 8-year payment history on your Credit.
Authorized User Accounts are typically only for Credit Cards. Auto loans and other installment loans can add you to an account as a co-borrower. There is a difference in the risk between an Authorized User and Co-Borrower. We don’t recommend becoming a co-borrower. You will usually have to apply to become a co-borrower, and that means having them pull a copy of your Credit Report. This will cause an inquiry and there is a possibility they could deny your application if you don’t have good credit. If you are approved, you will have financial responsibility if this account goes delinquent.
To become an Authorized User on a credit card, there is no application, no credit check, no inquiry on your credit report and no risk of being denied. If the account holder misses a payment or defaults on the balance, you will be able to work with LNCF to have this information disputed and removed from your credit history.
How To Boost My Credit Score With An Authorized User Tradeline
Authorized User Tradelines Being added to a credit card account as an Authorized User can help improve your Credit Scores since you adopt the credit history from that creditor. Within 60 days of being added to a credit tradeline as an Authorized User, you will see the account report on your credit and your credit scores will adjust accordingly. If you have a lot of debt collection accounts, or medical debt collections, past late payments or negative credit, you will not receive as much of a credit score improvement, and you’ll want to seek professional help to try to remove these accounts from your credit history. You can call us and we will review your case.
Account Must Be Open For A Minimum Of 2 Years
You only want to be added to an account if it is over 2 years old. Anything younger won’t give you as much of a benefit until the account has seen at least 24 months of on time payments. You also want to find an Authorized User Account that has the longest account history. You adopt it all, even if it is 10+ years of history.
No Past Late Payments
The Credit Card must have NO past late payments. You can always have the account owner check their credit report and you can verify that there has never been any past late payments on the account. You adopt the credit history of this account, even if it is negative, so make sure it’s not going to hurt you first.
Maintain A Low Revolving Balance
You will receive the most credit score improvement by becoming an authorized user on a seasoned tradeline that currently has and maintains a low balance on the account. Your Credit Score is heavily weighted upon your revolving debt ratio, so make sure that you are not being added to an account that is frequently maxed out or carrying a balance over 50% of the available credit limit.
Keep The Account Open
An Authorized User Tradeline can only boost your credit scores if it is currently open. You want to make sure that the account owner keeps the account open even if they do not plan to use the card at all. We do encourage that they use the account and pay it off once every few months so that the bank does not automatically close the account.
Follow These Simple Rules
If you follow these simple rules, you will ensure that you have a seasoned Authorized User Tradeline that will positively benefit your credit history and improve your credit scores. If you can’t meet these requirements, ask your local bank about a secured credit card.