Brief History Of Authorized User Tradelines

 

Authorized User Tradelines are an excellent way for some people to add some high-quality credit history to their credit file quickly. The Federal Reserve Board B in 1975 required Credit Card companies to add spouses to credit cards and report the credit card information to the credit bureaus for the authorized users as if it was their own.Today, most credit card companies still follow this practice pretty closely, except they no longer ask your relationship status to the authorized user.This has created an opportunity for people to sell their Tradelines to people who were not born into wealthy families and want the same advantages of someone born into a wealthy family.

Good Tradeline Three Main Categories That A

Tradeline positively affects are the credit utilization ratio (aka amounts owed), payment history, and the length of credit history.Your payment history and credit utilization ratio (amounts owed on revolving credit cards) can account for up to 65% of your FICO credit score, so it makes sense that Tradelines are so useful. 

Once you purchase an authorized user Tradeline, it is placed on your credit file as an open account, and after two months the account is closed.While the account is open, you will see an increase in your available revolving credit, which will increase your credit limit and give you a better credit utilization ratio.These will all positively affect your credit score while the account is open for those two months. 

However, you should anticipate giving those credit score points back at the end of the 60 days once the account is closed and your credit utilization goes back to its original percentage.This is good to keep in mind if you are looking to apply for a loan or a credit card that you did not qualify for before the Tradeline credit score increase.You will need to time your application during that two-month window to maximize your credit score and to qualify for the lowest interest rates.But here's the best part…

All of the perfect payment history and the length of credit history that was added to your credit file will still be there after the account is closed.This is the real advantage of Tradelines, especially for people with limited to no credit because you can go from nothing to perfect and lengthy credit history, literally overnight.

HOW TRADELINES WORK

                                              The Definition Of A Tradeline

Theres a term in the credit world called a tradelines.

Tradelines are an account listed on your credit report. For example, a credit card, car note, student loans, or a mortgage are all considered tradelines.

                                            Benefit Of Credit Piggybacking

Broad regulations and legal loopholes allow for you to benefit from being an authorized user on another personal tradeline (also known as a credit piggybacking).

The issuing bank reports the positive credit history including the age of the account, the limit of the tradeline and the positive payment history to the select credit bureaus of their determination.

In other words, once you are added as an authorized user to an account, the history of that account appears on your credit report and will be treated as if it was your credit history.

It makes no difference whether the parent adds his or her child or a perfect stranger. That father or mother with the credit card can add anyone they want onto their credit card as an authorized user.

The practice of piggybacking credit has existed since 1974ish. It is made possible by a law that was signed into law that year called the Equal Credit Opportunity Act of 1974.


The Federal Reserve Regulation B, which implements the 1974 Equal Credit Opportunity Act, requires that information on spousal authorized user accounts be reported to the credit bureaus and considered when lenders evaluate credit history. Since creditors generally furnish to the credit bureaus information on all authorized user accounts, without indicating which are spouses and which are not, credit scoring modelers cannot distinguish spousal from non‐spousal authorized user accounts. This effectively requires that all authorized user accounts receive similar treatment. Consequently, becoming an authorized user on an old account with a good payment history, may improve an individual credit score, potentially increasing access to credit or reducing borrowing costs. As a result, the practice of a piggybacking credit has developed.

Source:

Finance and Economics Discussion Series
Divisions of Research & Statistics and Monetary Affairs
Federal Reserve Board, Washington, D.C.

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Our Listed Tradelines

Tradelines listed here are publically available. Some are unpublished and reserved for affiliates and may also be available to you, so please ask if you don't see what you need. All tradelines listed have a balance below 10% (unless otherwise notified). Prices are subject to change without notice. Tradelines listed below are small part of our total inventory go to http://tradelines.biz get our fully updated weekly list.

 

Capital 1 8k 2014 13th $430

Chase 42k 7yr 15th $690

ss only Capital 1 2k 2015 18th $370

Chase 1.4yr 11.5k $390

11th Lowes 6.5yr 2k 22nd $395

Carecredit 3.2yr 5k 16th $395

Capital 1 2k 6yrs 15th $390

Barclays 10k 3yrs $470

26th Discover 6.7k 8.6k 27th $470

Carecredit 9 months 5k 24th $295

Barclays 14k 5th 2yrs $470

Tradelines Opportunity

Our tradelines give you the opportunity to increase your credit score by being added to positive account (or a tradelines as an authorized user. If you are looking to increase your credit score to secure a mortgage, auto loan, etc., you've probably sought tradelines for sale. For more information and/or a free consultation feel free to call us at 202-213-2218.

 

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