The New House

Tradelines 

A Trade line is the addition of positive items to a credit report for the purpose of increasing credit scores. It is simply purchasing positive credit that will show up on your report (I.E. Credit Cards, Loans, Mortgage)

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Trade Line in depth 

  •  Seasoned Tradelines is a line of credit that the borrower had held open in good standing for a long period of time, typically at least two years. The "seasoned" part implies that the account is aged or that it has an established history. 

  • "Piggybacking" tradeline is a practice which involves seasoned tradelines that uses a creditworthy borrower'accounts to improve the credit rating of an unrelated third party (client). 

How it works? 

The creditworthy borrower assess the third party (client) as an authorized user (UA), of their lines of credit, BUT does not actually provide the third party (client) with material (credit cards, account numbers, etc) that would permit the third party (client) to make charges against that account. 

What is the benefit? 

 The benefit to the third party (client) is an improvement in their personal credit rating.(credit increases) This will not change their entire credit record but merely increases their credit scores as a result of the newly added timeline. This may make the clients look like a better credit risk and may improve the clients access to a new credit. Keep in mind a credit score is only one aspect of the lending process. If you're shopping for a house and want a lower interest rate it would benefit you to raise your credit before you begin the process of applying for a mortgage loan. 

Important Info:

  • By purchasing 2-3 seasoned trade lines a client's score increase by 720-850 in just a month. 

  • The longer the history of the trade line the more their clients will increase. 

How can you add a trade line to the clients credit report?

We use a reliable broker to find the perfect trade line for our clients needs.

 

 Types of trade lines:

  • Revolving Trade Lines: include credit cards and line of credit. 

  • Installment Trade Lines: include loans, such as mortgages, auto loans, student loans and personal loans. 

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