The Ultimate AU Tradeline Buying Guide 2019

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You’ve put in the work and now you’re ready to dive into that next big thing. You begin the process of securing that loan you need to get you there, but quickly discover that the path into the world of credit is not so simple.

You can search and search for hours online, but you still come out just as confused as you went in. How do credit reports work? Why does your credit score matter? Can a tradelines help? What exactly is a tradeline? How does it affect your credit score? Should you be getting one? Is it even legal?

Here’s your guide to navigating tradelines and credit scores!

TRADELINES & CREDIT SCORES

What are Authorized User (AU) Tradelines? Seasoned Tradelines?
Authorized user tradelines are revolving credit card accounts where an individual is added as an “authorized user (AU)” of the account.

Once an AU is added, that credit card account will appear on that AU’s credit history. This means that if an account was opened for 10 years and has a perfect payment history of on-time payments then the AU will adopt those 10 years of perfect payments.

The longer the perfect payment history the better, because that way, potential lender will see that you have a history of trustworthiness on your account. These “seasoned tradelines” are always in high demand because they can quickly boost credit scores. This is especially vital in times when a credit profile is riddled with late payments, charge offs, etc.

Why Does Your Credit Score Matter?
A credit score is a tool used by lenders to help them determine the risk in offering you a loan. In other words, it’s a way to measure the likelihood of you repaying a loan within an agreed period of time.

A good credit score is crucial in determining whether you are qualified for a loan and at what interest rate. (That interest rate could be the difference between hundreds and thousands in savings.) Your credit score can be the difference in being able to rent that new apartment or getting that new car.

What Affects Your Credit Score?

  • Credit scores range from poor to excellent. Your rating is calculated based on certain factors that include, but are not limited to:
  • Total debt
  • Payment History
  • Credit Utilization Rate – This is the amount of revolving credit you’re currently using divided by the total amount of revolving credit you have available. For example, if you have $1000 credit available and your balance is $500, then your credit utilization for that credit card is 50%. A good credit score has a low credit utilization rate, typically below 30%. This indicates that the user is good at managing his/her credit responsibilities because they do not overspend.
    Type, number, and age of credit accounts

What are the Benefits of a Good Score?
Having a good credit score come with benefits that you wouldn’t receive or qualify for otherwise. These benefits are:

  • Lower interest rates on credit cards and loans
  • Better car insurance
  • Higher loan limits
  • Easier approval for rental houses and apartments

Simple ways to maintain and increase your credit score:

  • Pay your credit card balances
  • Pay your bills ON TIME
  • Show your good debt – debt that you’ve paid on time

Up and Up
So, how do you fix your credit score without having to spend years building on it? Becoming an authorized user on a quality tradeline is a quick way to repair and/or bump up your credit score. However, it is important to note that you cannot just buy any tradeline and expect your credit score to go up. No. Rather, credit accounts and tradelines are unique. If you add those two together, you will end up with something different every time. Tradelines are complex and there’s no simple formula to it. It’s not as simple as “your credit score + tradeline = good credit”.

HOW TO USE AU TRADELINES

How Do You Get Started?
There are a few things that you need to remember before you buy a tradeline.

  1. What’s my current credit standing? What are my financial goals?
  2. Will tradelines help me get closer to reaching my next financial goal?
  3. What kind of tradeline should I be looking for?
  4. Where can I find the tradeline I’m looking for?
  5. It’s important to determine if tradlines are a strong next step for your unique situation, and if so, what would be the most strategic tradeline for right now. The next step is choosing your source. Friend and family member can often be a great option, especially for anyone just starting out.

For anyone looking for more options or a specific type of tradeline, purchasing from an AU tradelines marketplace can allow for more flexibility. It is important to pick a company that you trust. That is why we’ve partnered with thousands of brokers and clients to help you and countless individuals improve their credit for almost 10 years. You can rest assured that if your tradeline does not post, we will provide a refund.

Factors of a Good Tradeline
When considering which type of tradeline to piggyback off of, you need to consider a few attributes of a good tradeline.

  1. Zero Late Payments– The account should have zero late payments. Since the history of the primary account holder is transferred to the authorized user, any record of late payments from the primary account will negatively impact the authorized user’s credit score.
  2. Two Years or Older– The account should be two years or older and in good standing, meaning that the account makes on-time payments, has low utilization rate, etc. This way, the authorized user will get the entire history of good standing from the primary account.
  3. Low Utilization Rate -The account should have low utilization rate since primary accounts that are frequently maxed out will hurt the authorized user.

What are the Risks?
While being an authorized user is an amazing way to build credit, there are still risks involved. Should the primary account holder fail to pay their card on time, the authorized user’s own credit can be affected as well. Not only that, but if the primary account holder’s credit is maxed out, the authorized user’s score can also go down. This is due to the primary account holder’s high credit utilization. Although tradelines can boost your credit score, it is important to note that they are also capable of bringing it down.

Are tradelines legal?
Yes! Being added as an authorized user is perfectly legal. Parents routinely add their children as authorized users to assist in building their credit file. Tradelines offer you the same process and benefits! Although tradelines are legal, they can become illegal if used fraudulently. For example, credit privacy numbers, or CPNs, bought or sold online are not legally assigned credit numbers. These are usually stolen social security numbers, or SSNs, that were taken and advertised as a ‘clean slate’ for your bad credits. Using these illegal CPNs in your application instead of your SSN qualifies as committing fraud, which is punishable by jail time. Here, at Coast Tradelines, we don’t sell CPNs. Instead, we are able to add tradelines to CPNs.

What are the costs?
Like every service, there are costs to buying a tradeline and becoming an authorized user. These costs derive from the time and effort it takes to set you up as an authorized user, such as finding and talking to various legitimate primary account holders, analyzing your credit reports and tradelines, paying for the costs for running the business and registering a company, etc. In a similar fashion to how services charge you registration fees or renewal fees, tradeline companies charge you for the services that they provide. To assist you, we have collated a wide selection of AU tradelines at deeply discounted prices! Guaranteed to be the lowest prices! If you find prices lower than ours, we’ll match it.

How long do AU Tradelines take to post?
It all depends on the statement date of the actual credit card you’re added on as an authorized user to. It usually takes 1-2 weeks after the listed statement date of the card. Let’s say, for example, you’re added on a credit card with statement date on the 10th of every month, then you can expect it to post by the 17th of that month. At Coast Tradelines, all AU tradelines will stay posted for at least 30 days after the statement date.

Why Coast Tradelines?
We’re an established industry leader. We have partnered with thousands of brokers and clients to help countless individuals improve their credit. We guarantee that we offer the lowest prices in the market. You won’t find prices lower than ours, and if you do, we will match that price. Buying tradelines can quickly become a hectic and scary experience, but we can help make it easier for you. With our no-risk guarantee, if your tradeline does not post, we will provide a refund. Our easy to use online inventory allows you to view and purchase tradelines in real time. Should you have any questions, our responsive staff assures you that your inquiries will be addressed within 24 hours! Lastly, our network of more than 200 cardholders gives you and your clients access to one of the largest AU inventories in the market.

Book a consultation with one of our tradeline experts today HERE