Why Would Someone Want to Buy a Tradeline?
80% of your credit profile is made up of payment history, length of credit history (Age), and the amount of debt (Utilization). All of the tradelines with Better Short Term Loans, LLC have perfect payment history, no debt (low utilization), and great credit history. Tradelines are what make up the majority of a person’s credit report. It does not need to be said why someone’s credit report is important. We all know how important a credit report is. Essentially, everyone wants to have the best credit report possible. To this end, it is wise to study how to build good credit. The basic answer is to open credit accounts of various types and make all your payments on time consistently. If you do this, over time, you should have good credit.
By optimizing the factors that go into a credit score (Payment History, Age, and Utilization), you could eventually even get a perfect 850 credit score.
Note, if you have errors on your credit report, you may want to consider credit repair. We are not a credit repair company
What If I Currently Have Bad Credit?
If you currently have bad credit, turning that around and building good credit is the exact same process. Open new credit accounts of various types and make all your payments on time. It may take longer to rebuild your credit than it originally took to build your credit because those negative marks will remain as part of your credit report for quite some time.
If you have errors on your credit report, you may also want to consider beginning the process of credit repair, whether through DIY credit repair techniques or with the help of qualified credit repair professionals.
How Can Tradelines Help?
When purchasing authorized user tradelines, when you get added to the credit card as an authorized user, it does not show on your credit report when you were added. Rather, the entire history of the account is reflected in your credit report, with some exceptions depending on the bank.
For example, if an authorized user is added to a credit card that is 20 years old, it will simply appear as a 20-year-old credit card that this person has on their credit report with an authorized user status. Therefore, the credit scoring algorithms often just assume this person has been on this card for 20 years. If the tradeline has a perfect payment history, that is a nice thing to have in your credit report.
Also, while there may be several different utilization ratios at play in the secret credit score algorithm, an authorized user tradeline can play a factor in the overall utilization ratio.
The truth is that since the credit scoring algorithms are secrets, no one knows exactly how it works. There are a lot of inferences, correlations, and speculation that has taken place to try to understand the way credit scores work.
Which Tradelines Should I Buy?
In short, you only want to add tradelines that are superior in age and credit limit to what you currently have in your credit report.
If you currently have high utilization, higher-limit tradelines may help with your overall utilization ratios.
While we do not offer any guarantees on specific results, we do guarantee that your tradelines will report on your credit report. Since everyone’s credit report is so unique, it is up to you to use the knowledge and tools we provide so that you can determine which tradelines would be best for you.
Here at Better Short Term Loans, LLC We Guarantee the following:
- If you buy any tradeline by 5 days prior to the reporting date we guarantee that it will post on your credit report on the next “Reporting Period” which is listed for each tradeline.
- Once purchased, we guarantee that you will remain on the card as an authorized user for 2 monthly reporting cycles (normally at least 60 days)
- We guarantee that the tradelines will post to any 2 out of the 3 credit bureaus.
- We guarantee that all tradelines will have a perfect payment history with no late payments ever reported
- We guarantee that the utilization ratio will always be 10% or lower.
What We Do Not Guarantee
Per Law, We Can not Guarantee following:
- We do not guarantee any positive results on your credit score from purchasing any of our tradelines.
- We do not guarantee that you will be able to secure any new funding, loans, credit cards, lines of credit or be able to achieve any financial goal based on purchasing our tradelines.
- We do not make guesses as to how many points you may or may not get.
- We do not guarantee any credit score points and we do not make guesses as to what your score might be or how many tradelines you would need to buy in order to get to a certain credit score.
- We do not talk about credit scores.
- We do not guarantee any results beyond getting a tradeline to post as detailed above.