If you’re on the fence about buying a tradeline, one of the biggest concerns you may have is how soon it shows on your credit report. This can significantly impact your decisions, based on what you need the credit score boost for and when you need this to happen. It does take some time before the tradeline starts to show and your credit scores go up.
We will share the essentials you need to know before purchasing authorized user tradelines in the following blog post. We will focus on how long tradelines appear on your credit report, how long they stay, and how it affects your credit score.
What Are Tradelines?
Before we even talk about how long do tradelines appear on your credit report and other vital information, let’s define what a tradeline is first. Perhaps you had heard the term several times before and wondered what it was. So, to help you understand what a tradeline is, here’s how experts define it:
In the credit card industry, a tradeline is a term used to refer to the line of trade extended by one person’s primary account. Usually, it is extended to a family member such as your spouse or children. Tradelines is also a term used by the three major credit bureaus to describe accounts listed on your credit report. They include information about both creditors and their past debts. Tradelines will appear on your credit report as “active” or “inactive” accounts. Active tradelines are accounts that you paid for recently. Meanwhile, inactive tradelines refer to those accounts that you are not legally obligated to repay.
What Are Authorized User Tradelines?
As mentioned in the previous section, a primary account holder can extend lines of credit to another person. The recipients of the extended line of credit are referred to as authorized users. All credit card companies allow primary credit card account holders to extend lines of credit to one or more persons.
As an authorized user tradeline recipient, you get to benefit from the primary credit card holder’s positive credit history. It can help you get more chances of loan approvals or getting approved for credit card accounts from a credit card issuer of your choice. Essentially, the primary account holder’s positive payment history can help increase your credit score as well.
It is vital to know that the owner of the account remains responsible for repaying debts incurred. As an authorized user tradeline, you do not get to use the account or enjoy its credit limit for any transactions. An authorized user account does not get access to the primary account holder’s personal and other essential information as well. Also, the primary cardholder can opt not to give the authorized user a card.
While becoming an authorized user seems an excellent idea to help improve your credit score, there are some things you should consider before getting into this arrangement. Like any transaction, there are risks involved. Thus, the need to carefully choose user tradelines before purchasing one.
Why Is Credit Important?
Your credit history plays a key role, especially when borrowing money from financial services companies. Banks and other lending companies assess your creditworthiness by looking at your credit report.
Without a good credit history, you will have limited access to different loans and credit cards. You may also get higher interest rates for loans, which will cost you a lot of money over time. But, with positive credit, you get to borrow money quickly, and your rates are lower.
To enjoy easy loan approvals and low-interest rates, your credit score must be 750 or greater. Credit scores that are 600 and below are considered poor. Credit scores are made up of the following:
- your payment history,
- type of credit in use,
- total available credit,
- length of credit history, and
- your credit inquiries.
If you want to enjoy the perks of having a high credit score, you must monitor all these aspects at all times. Having bad credit does not mean you are on a dead-end, though. There are many ways out there to help improve your situation. Buying authorized user tradelines is one of them. But, it is vital to know that choosing to spend your hard-earned money on credit repair companies or tradeline companies like Coast Tradelines is a big decision in itself. You must know how things work to achieve your goal.
How Do Authorized User Tradelines Work?
Authorized user tradelines can either make or break your credit profile. With the right credit accounts, it can help significantly increase your credit score. But how does it happen?
Once you are added as an authorized user to a primary account, the full credit history of that account is reflected in your credit report as well. It shows years of history that are associated with the primary account. The history can either help increase your credit standing or won’t help at all. That is why it is crucial to check your credit status first before buying a tradeline.
Becoming an authorized user, also known as credit piggybacking, is a prevalent practice. Even banks and financial education sites promote it because of its benefits, especially those who are only starting to build their credit record.
Is It Legal To Add Tradelines To Your Credit?
The legality of tradelines is a very popular discussion among industry outsiders. While it’s not something that banks and lending companies promote, adding tradelines into your account is not illegal.
Generally, lenders like banks base your credit score on certain factors like credit history and payment history. When you buy tradelines, it’s like telling the bank that your positive credit history is earned through someone else’s efforts. Some people perceive it as dishonesty, worse, committing bank fraud. But, as mentioned, buying and selling tradelines has become a prevalent practice among Americans. While there are still a few arguments about it, as of this writing, it still is considered legal, and you can still buy or sell as many tradelines as you want.
What Makes A Good Tradeline?
Many tradeline companies claim that they sell the best tradelines. While it may be true, we recommend still checking the credit repair company and the tradelines themselves before purchasing one. There are a few things to consider when buying a tradeline. A good tradeline must possess the following:
Age
One of the best assets a tradeline has to have is age. The older the tradeline is, the better. The age of your credit history plays a vital part in receiving a good credit score. Adding a tradeline extends the time that your credit history appears on your report. Thus, a newer tradeline won’t affect your credit report as much as an old one.
History
The longevity of a tradeline is useless if it has a negative credit history. When choosing a tradeline, you must consider the ones with positive credit. Choosing otherwise will negatively affect your credit score. It will forfeit the very reason why you bought the tradeline for.
Credit Utilization Ratio
A good tradeline must have a low credit utilization ratio. At the absolute maximum, it has to be 30%. The best CUR, though, is at 15%. Not having any activity on your account is not helpful either. It’s not going to work for scoring your creditworthiness.
Having a big credit limit is also a factor to consider when looking for a good tradeline. It will help increase the amount of available credit you have on your credit report. Thus, making you more attractive to creditors and credit scoring models.
How Much Do Tradelines Boost Your Credit Score?
Certain factors are affecting how much a tradeline can boost your credit. But, the major players would be the number of tradelines and the type of tradeline you buy. While having one tradeline is enough to change your credit standing significantly, others need two or more. That is why it is best to consult a tradeline expert before buying one.
Moreover, there’s what the industry calls “seasoned tradelines”. These are tradelines or accounts that are open for at least two years. Seasoned tradelines are considered to be the best tradeline. It can significantly affect your credit score because of its credit history. A report by Finance Monthly states that purchasing 2-3 seasoned tradelines can help increase your credit score by 720-850 in just one month. But of course, this is in the assumption that your chosen seasoned tradeline has all positive credit history.
When To Add Tradelines To Your Credit?
There is no perfect time to add tradelines to your credit. You can add one anytime you want. But, if you are planning to loan money from banks or other financial institutions, it is best to work on your credit profile earlier. Ideally, at least 15 days to a month before filing the loan. Adding a tradeline is also necessary when applying for credit cards. Whether you are loaning money or applying for credit cards, make sure to have ample time to work on your credit profile.
How Long Does It Take for Tradelines To Post On Your Credit Report?
So, you buy a tradeline today. The next question would be, how long do you wait until credit bureaus report it on your credit file?
Tradelines can begin to show up on your credit report as soon as 15 days or as late as 45 days from the time of purchase. There are several unknown factors behind how quickly credit report bureaus receive and update the information. Here are the ones we are most aware of:
- How soon does the tradeline company or card issuer reports complete the necessary paperwork
- Type of authorized tradeline account purchased
- Geographical distance from the original cardholder
- Current activity occurring at credit bureaus related to challenging records
Regardless of the reason behind how early or how late the tradeline will show up in your credit report, it is worth noting that buying a tradeline does not guarantee an automatic improvement on your credit score.
How Long Do Tradelines Stay On Your Credit Report?
When you purchase a tradeline account, you buy an inactive addition to someone else’s account for yourself. This is the practical equivalent of a family member adding you to a credit card account but refusing to give you the credit card. Because no transactions are associated with the account, the credit bureaus eventually flag it as inactive, and it can fall off your report.
This is why the current activity for challenging new or existing records at the credit bureau is essential. It affects not just how soon your accounts report but how long they remain on your file. Some people only see a tradeline report for about 45 days before it drops off. Others can get up to seven solid years of reporting.
Does It Matter How Long the Tradeline Reports?
Because tradelines operate like inactive accounts on your credit report, it does not matter how long they continue to show on your credit report. The boost you need to look out for is the initial effect on your score. After that, how long it continues to report on your credit report does not make a big difference in your score.
Say, for instance, that the account continued to show for the entire seven years. In the first year, your credit score might climb 100 points because of access to more credit and the ability to piggyback on someone with a more robust credit history.
However, your credit score would not continue to climb by 100 points every year after that. The same is true if it stops showing on your report after two months or less.
What Can Buyers Do to Maximize the Effect?
The point of buying tradelines is to improve the overall appearance of your credit report. Because of this, purchasing several of these accounts might seem like a bright idea. It can be, but you may wish to speak with a financial advisor or the tradeline company. Find out how many you can safely add and how much time you should allow passing between each addition.
When your credit score climbs, consider applying for a new account. The more total accounts you have and the more available credit, the higher your credit score might climb to. Remember that when you apply for credit via traditional means, your credit score will fall before it rises again.
When deciding on accounts to add, consider improving your credit mix by adding an installment loan. This is especially important if you don’t currently have one. You can also get a credit builder loan. Some lenders might not even require a credit check and some put the money upfront for you, so you won’t need to provide a lump sum payment.
Finally, the absolute best thing you can do to maximize the effect of your tradelines is to maintain your active accounts in good standing. Any derogatory remark on your account will do far more immediate damage than the good a tradeline can accomplish. Here are some simple debt management tips to help:
- Review your finances and create a budget you can stick to.
- Prioritize your debts and bills ahead of all other expenses.
- Try to pay your credit card bills in full every month.
- Automate your accounts for lenders to withdraw at least the minimum payments due.
- If you have a large debt load, find a debt payment strategy that works for you.
- Create an emergency or rainy day fund to not rely on debt in minor emergencies.
Does Removing An Authorized User Tradeline Affect Your Credit Score?
As the primary account holder, removing an authorized user won’t hurt your credit score. The account will continue to be reported by credit bureaus as usual. Remember, authorized users do not have anything to do with your account apart from being added to it. They cannot use your account to purchase or in making other financial transactions.
However, if you are the authorized user, being removed by the primary account holder may affect your credit score. The credit profile of the primary account holder will not be shown on your credit report anymore. The credit bureaus will only report your own credit file, which will be the only basis for lenders to get your credit score.
How Much Do Tradelines Cost?
The cost of tradelines varies depending on their type. Some may cost a few hundred dollars, while others can go up to as much as $2,000 each or more. How much a tradeline cost depends on two major factors — the age of the credit card account and its credit limit. That is why seasoned tradelines are way more expensive than newer ones. It is believed that older tradelines can help improve your credit score more than newer tradelines. Meanwhile, credit limits and how they relate to your balances can greatly influence your credit score as well. When your credit utilization ratio is low, expect a higher credit score.
How Many Authorized Users Can Be Added To A Single Primary Account?
The answer to this question depends on the issuer and the type of credit card. Credit card companies have different restrictions on the number of authorized users you can add to one account. Thus, it is important to read the terms and conditions of your card or ask the issuer or the bank about it. Also, check if the card charges a fee. Some cards charge a certain amount per authorized user you add to your account.
How To Buy Tradelines?
The tradeline industry is booming in the United States. You will find a lot of companies selling tradelines out there. But, how do you buy a tradeline? Here’s a step-by-step process to get you started:
Step 1: Scout and select a tradeline company.
As mentioned, there are many tradeline companies out there to choose from. But be wary of scammers. Check out the next section to know what you need to look for when selecting a tradeline company.
Step 2: Check tradelines available and add to the cart the tradeline you want to purchase.
Every tradeline company offers a wide variety of tradelines for sale. Check what your options are and see what’s beneficial to you. Remember, no tradeline is the same. Also, it is essential to know what your account needs. What works for one may not work for you. If you are in doubt, ask a financial expert to help you choose the right one for you.
Step 3: Proceed to checkout.
Click the checkout button once you have chosen a tradeline and you are hundred percent sure of your choice. We recommend double-checking your options before paying to ensure it’s what you need.
Step 4: Read and sign the “Service Terms & Disclosures.”
Read thoroughly the “Service Terms & Disclosures.” Make sure you understand everything before agreeing. If you have questions, do not hesitate to call or email the company. Otherwise, follow the steps to sign this document electronically. Affixing your e-signature means you agree to everything that’s in the document.
Step 5: Provide your personal information.
Before checking out, you will be asked to provide your personal information, including your name, mailing address, and contact number. Rest assured that all of your personal information is safe and secured for as long as you deal with a legit tradeline company like us at Coast Tradelines.
Step 6: Upload a valid government-issued identification card.
In most cases, tradeline companies require you to upload government-issued IDs like the Social Security card and Driver’s License. Make sure to have these cards with you when buying tradelines.
Step 7: Select the payment option and enter the required account information.
Tradeline companies usually offer several payment options. If, for example, you choose eCheck payment, you will need to enter your routing number and account number to get through the payment process. Most tradeline companies also allow payments using credit cards.
Step 8: Click the “Submit Order” or “Order” button to complete the transaction.
Before clicking the submit order button, make sure to double-check all the information. If you find any typographical error or wrong information, edit it right away. Keep in mind that once you click the order button, there’s no turning back.
Step 9: Wait for confirmation.
Tradeline companies would send an email confirmation that the transaction was successful. Once you get the confirmation, you need to wait for your following credit report to see if it has already been reflected in your record.
Where To Buy Tradelines?
Tradeline companies are everywhere. Go online and search on Google, and you will be amazed at the so many options out there. But where do you exactly buy tradelines that will help positively change your credit scores?
You can buy authorized user tradelines from a third-party service for a certain fee. The prices vary from a few hundred dollars to thousands of dollars. But, before purchasing one, make sure to do your research about the company you are eyeing for. As mentioned, there are bogus companies selling tradelines. To avoid getting into their trap, make sure to look into the following:
- Company Reputation – To check how credible a company is, ask yourself these questions: Is the company well-known in the tradeline industry? Do they have any past or existing complaints? How do they fare among their competitors?
- Age – How long the company has been in the tradeline industry indicates how well they are in the business. After all, they won’t last long if they are not legit and not good at what they do, right? The older the company, the better. While there’s nothing wrong with new ones, just be wary. Once you find a red flag, don’t push through with any transaction.
- Level of Experience – Level of experience is related to how long the company has been doing the business. Ideally, you would want to buy from a knowledgeable company with years of experience buying and selling tradelines of all kinds. As a general rule, experts recommend working with a credit supply company with ten or more years of experience in the business.
- Customer Reviews – Customer reviews are helpful to know more about the company. It’s also a great way to learn how credible or reputable the company is. Having many positive reviews means the tradeline company is a good one.
- Customer Support – The majority of tradeline companies (if not all) are operating online. That being said, it is vital to look into the company’s customer support. Look into their customer service offerings. Does the company have chatbots on its website? How about a customer hotline? How do you reach them in case you have questions in mind? Does the company provide an email address? These may not be huge for some, but there are very helpful, especially if you are new to the tradeline industry. Having reliable customer support means the company is well-established.
If you think finding a company that has all the qualities mentioned above is hard, think again. They exist — and Coast Tradelines is one of them.
What Is Coast Tradelines?
Coast Tradelines is a tradeline company based in the USA. We have been in the tradeline industry for years since 2010 — making us one of the premier tradeline companies in the country. We offer a wide selection of tradelines. Name it, we have it. Our products vary from fairly new to seasoned tradelines. Contact us today to learn more about our tradeline offerings. Our customer support team is more than happy to answer inquiries and assist you in ordering a tradeline for yourself.
Is It Still Worth Getting a Tradeline in 2021?
If you already have excellent credit, purchasing a credit line might not significantly impact your score. It may only be a waste of resources. Instead of buying one, continue paying your loans on time. But, tradelines can provide that boost you need to climb into lower interest brackets and earn more favorable terms for consumers with lower or poor credit scores. However, it is vital to know the right tradeline to buy based on your account’s needs. Thus, it’s best to talk to a financial expert first. Find out more about how Coast Tradelines can help. Call us today or send us a message via the contact form.
Final Thoughts
Tradelines are helpful for consumers with low or poor credit scores. Seasoned tradelines, in particular, are the best type of tradelines because of their years of existence. Even more, if the primary account holder has perfect payment history. The number of tradelines you buy depends on what your account needs. While buying one is enough for some, others require two or more. Thus, it’s best to seek advice from a tradeline expert.
The length of time a tradeline shows up on your credit report depends on several factors. But, generally, it takes about 15 to 45 days before credit bureaus report it. Meanwhile, how long it stays on your credit report varies depending on the tradeline. Some tradelines remain for up to 45 days only, while others remain on your credit file for years.
