It is not easy to fix a bad credit record, especially if you have already had it for a long time. One way to fix it that many have been recently doing is buying tradelines. For some of you, this might sound familiar. But for others, it can be a new and unfamiliar concept.
Good credit scores are very important for anyone who wants to avail of financial benefits in the future. It is already hard saving money, so we have to get as many perks as we can. Leveraging credit you can obtain perks such as cash rewards and travel rewards.
However, even maintaining a good credit record is not that easy as you might think. That is why there are numerous other ways to improve your credit score legally. Buying tradelines is one of them.
Tradelines are any accounts or activities that show up in your credit report. Creditors and other agencies use them to track all activities that are related to your credit account. These will then be summed up to determine if you have a good credit standing or not. That is how your credit score is generated.
We here at Las Vegas Tradelines offer the most “well-seasoned” and the best tradelines that you can get out there. But before you purchase any, you must first know which tradelines you should buy. This guide is for you to really understand the concept of what you might be interested in learning about.
If you want to learn more about tradelines and everything in between, reading this article will provide you with all the information you need to get started.
First of all, why is having a good credit score important?
A good credit score is very important, especially to adults, because it’s a way to save money on our everyday spending. As we grow older, we also have to become more independent and learn how to save money. Everyone knows that having enough savings is necessary for us to buy our everyday needs to survive.
If you have a good credit score, a lot of financial opportunities open up for you. First, you will be able to avail of credit cards. You will also be offered lower interest rates when you apply for bank loans. Heck, getting a bank loan is a privilege only for those who have good credit scores.
On a larger scale, companies and your potential employers might also look into your credit score. Their findings will then affect their decision whether to hire you or not. Mortgages, auto loans, and apartment leasing also require this good standing. Almost everything relies on it.
We know that it is important, but sometimes it is almost impossible to maintain. Sometimes, there might be emergencies that will cause us to pay our debt obligations late. It will then reflect as a bad record on our credit report. Continuously being late on one or more accounts might put us in a hole that will be difficult to climb out of.
That is why it is important to have your damaged credit repaired as soon as possible. One way of doing that is through what we are offering: buying already-established tradelines. It’s a great and sustainable way to improve your credit score. Plus, it’s a lot easier to boost your credit score with tradelines than a credit repair service.
So, is it REALLY legal?
We can’t blame you if you think that buying tradelines is something illegal. However, let us reassure you again that it is legal. You might say that it is not an honest way of raising your credit scores. But think about this, most banks and lenders encourage you to add authorized users to your credit cards, especially family and relatives.
If you’re someone who has outstanding tradelines, you would most likely want your relatives to benefit from them. You would help each other out, knowing how important this can be for everyone’s financial well being. The problem is, what if we don’t have anyone that has good tradelines to share with us?
That is where we can help you. No law is being violated by using other people’s tradelines. This method is completely safe and is 100% legal. Plus, if you need help repairing your credit report, tradelines-buying is always a great way to start fixing it.
With our help, you can use them to your advantage and receive all the financial perks that you are missing out on.
How to choose the best tradelines to buy?
If you are already convinced in availing our services, the next question is which tradelines you should buy? If you’re looking for great tradelines to buy, you should first look at their credit limit and history or age.
These two things are the most important factors determining a tradeline’s quality, which we will explain below. Basically, the more aged and higher the credit limit of the tradeline, the better its quality will be.
But another important thing to note is that each individual’s credit scores are different. These differences imply that the tradelines we buy must cater to our credit report particularly. It’s not about just getting the best quality. We also have to consider if it fits our existing records.
If you need help in determining which tradelines are best suited for you, you can always contact us for a consultation. We will be more than willing to help you out. Yes, it is beneficial to have prior knowledge of the ins and outs of tradeline buying. But it also wouldn’t hurt to ask for guidance from professionals. This way, you will get the maximum benefit for your credit score.
With that being said, here are the two factors that you should familiarize yourself with.
Just Like Wine: How a tradeline's age affects its quality
The credit score creator, the Fair Isaac Corporation (FICO), identified age as an important part of good credit standing. They said that 15% of the score that you’ll be getting is based on the length of its credit history.
Particularly, FICO categorized the effects of credit age into three components:
- The length of time since the accounts have been last used
- Also, the length of time that an account has been active or open
- Lastly, the length of time each specific account types have been active or open
Age is significant in deciding an account’s quality. There are a lot of beliefs on how age can affect the value that an account provides. Some believe that at specific points in time, the value just immediately jumps drastically.
For example, at a specific number of months or years, the value will immediately increase from one point to another. So instead of a gradual increase over time, it’s more like “checkpoints” that determine an account’s value.
That is why many people believe that accounts at a certain age are the ones that we should look out for. Keeping this in mind when we are looking for tradelines is very important. This way, we will also narrow down the list of tradelines we’re going to look at.
According to FICO, the average age of 12 years will usually get a score of 735 and above. On the other hand, the average age of 6 years will only get a credit score of around 635.
Another important thing to consider when it comes to credit history is the payments done throughout that period. It constitutes 35% of your credit score. The other remaining percentages go to the amount of money you owe (30%), credit mix, and new credit (10% each).
It would be best if you considered all these subfactors when looking at tradelines to buy. The bottom line of all of this is you need an old enough age to create a credible record. It also shows that you have maintained these accounts for a long time.
If all of these factors are addressed, you will get an excellent credit score. However, again, you should always find the right tradeline that fits your credit history. What these creditors are considering is the average age of your accounts.
It is not just about getting a random account and adding it to your record. Maybe your record requires only five or ten years more to achieve a desirable average. It just depends on where you are right now with your credit record.
So go and consult us to have a better read on what your particular needs are. Even just having a consultation with us will help you a lot and make it clearer for you.
Higher credit limit: Getting a better credit utilization ratio
The next thing that should be considered is the credit limit of the accounts. The higher the credit limit of an account is, the greater the chances of getting good credit scores. This is through the credit utilization ratio and what score it will reflect on your credit report.
The credit utilization ratio is computed by dividing your account’s balance over its credit limit. The goal here is to have low credit utilization. You can get that by simply adding a tradeline with a high credit limit.
Many companies know that this is one of the fastest ways to improve your credit score immediately. These experts also believe that the ideal percentage ratio is anything below 20%. Keeping that in mind will help you find the best tradelines for you.
But this only applies to one credit card. The results are not that guaranteed for multiple credit cards. If you have multiple credit cards with high utilization, it is not a guarantee that adding a high-limit tradeline will fix it all.
It is still worth trying to add tradelines that have a high credit limit. However, every credit report is different and other factors can still hinder your score. Yes, it will help, but it might not be enough. Severe derogatory items such as recent late payments and collection accounts can restrict your credit score from improving significantly with a tradeline.
Tradelines are especially effective if that tradeline doesn’t have a balance owed. That means its utilization is significantly low or zero. There’s a chance that this alone might lower the overall utilization ratio. However, again, this is not a 100% outcome for every credit report.
Still, it is better to ask the help of professionals to have a better read at what your needs are. Every credit record needs specific types of tradelines. Maybe adding a tradeline with a high credit limit is enough for one credit report. A second credit report may only need a tradeline that is well-seasoned. A third credit report might need both a high limit and well-seasoned tradeline.
Contact us today to get the most optimum solution for you. The sooner you take action, the faster you can get your credit score up.
Important things to note when buying tradelines
We are aware that not everyone is still okay with buying tradelines. For one, you have to spend money to repair your credit record. Not everyone is willing to do it, but sometimes it’s the best solution available.
It all boils down to whether you are willing to make the investment in this little known credit boosting secret. Of course, there are other ways to improve your credit score. It’s very wise to seek professional advice so you can make a more informed decision.
Another issue that you might be concerned with is your privacy. When you apply for any credit card services, we will require certain personal information for us to be able to help you. This includes your social security number and identifying documentation. Rest assured that we understand the confidentiality and sensitivity of your personal information.
Here at Las Vegas Tradelines, we ensure that all of your sensitive information stays confidential. We implement all the necessary safeguards to keep your information protected at all times. Your personal information is used solely to improve your credit score. All of our trained staff is trained and compliant with all privacy and consumer laws.
Answering the question “which tradeline should you buy” is pretty simple. It should be something that fits your credit report the most. It’s not just about buying the most seasoned or the one with the highest credit card limit.
It would serve you best to speak with one of our tradeline experts to understand how to select the best tradeline for your credit score needs. Purchasing tradelines alone may not suffice your needs without some credit repair. But again, it has proven time and time again to be very effective.
Reach out to us if you need more clarification. We will gladly answer all your pending questions. We always want all our clients to obtain the benefits that a great score can bring them. Do not pass on life changing opportunities because of your credit score. You can have the credit score you desire by taking action today.
Repairing and boosting your credit score alone can be challenging for many. Never feel alone in this journey again. Contact us today and let us be that credit partner you never had.