If you're wondering how possible it is to improve your credit score by purchasing seasoned tradelines, let me give a simple answer to that question!
Purchasing a seasoned trade-line is the process of paying a monthly fee for having your name added as an authorized user to a seasoned credit account for the purpose of getting that seasoned account to report on your credit report. The goal of doing this is to add a good trade-line to your credit that will boost your credit scores.
Pro reasons to buying seasoned tradelines: It's often a successful process for consumers with positive credit just needing a little boost in scores to be approved for a loan, for financing, etc. The needed accounts stay on consumer's reports just long enough to benefit scores and once they are no longer needed, payments are stopped and the seasoned accounts will be removed from reports.
Cons of purchasing seasoned reports - Several issues have risen from purchasing seasoned tradelines, one of which is that the credit bureaus and federal officials watch such practices very closely. While not illegal, problems are common when it comes to how seasoned tradelines are sold. Seasoned tradelines only work for somebody with good, clean credit. Still, those with less-than-perfect credit are targeted by companies on the internet that sell good tradelines as a form of credit repair. If you have derogatory credit, purchasing seasoned tradelines won't do much of anything to boost your scores. It is basically a great way to waste your money. Good, seasoned tradelines often sell for hundreds of dollars and sometimes, thousands of dollars per month and if you don't already have good credit, it is an ineffective solution to your problem. A newer issue is also that the credit bureaus have stated that they will no longer use authorized user accounts as part of their scoring model. Such a practice will make purchasing seasoned tradelines completely pointless.
Bottom line? Purchasing seasoned tradelines isn't the best way to go. There are other means that are more effective and less costly to improve your credit scores. For tips, take a look at our 'credit repair articles' section. NCA Credit Repair is a premiere credit repair company, dedicated to helping people with bad credit. Give us a call today, receive a free evaluation and find out how we can help YOU! - 16089
Purchasing a seasoned trade-line is the process of paying a monthly fee for having your name added as an authorized user to a seasoned credit account for the purpose of getting that seasoned account to report on your credit report. The goal of doing this is to add a good trade-line to your credit that will boost your credit scores.
Pro reasons to buying seasoned tradelines: It's often a successful process for consumers with positive credit just needing a little boost in scores to be approved for a loan, for financing, etc. The needed accounts stay on consumer's reports just long enough to benefit scores and once they are no longer needed, payments are stopped and the seasoned accounts will be removed from reports.
Cons of purchasing seasoned reports - Several issues have risen from purchasing seasoned tradelines, one of which is that the credit bureaus and federal officials watch such practices very closely. While not illegal, problems are common when it comes to how seasoned tradelines are sold. Seasoned tradelines only work for somebody with good, clean credit. Still, those with less-than-perfect credit are targeted by companies on the internet that sell good tradelines as a form of credit repair. If you have derogatory credit, purchasing seasoned tradelines won't do much of anything to boost your scores. It is basically a great way to waste your money. Good, seasoned tradelines often sell for hundreds of dollars and sometimes, thousands of dollars per month and if you don't already have good credit, it is an ineffective solution to your problem. A newer issue is also that the credit bureaus have stated that they will no longer use authorized user accounts as part of their scoring model. Such a practice will make purchasing seasoned tradelines completely pointless.
Bottom line? Purchasing seasoned tradelines isn't the best way to go. There are other means that are more effective and less costly to improve your credit scores. For tips, take a look at our 'credit repair articles' section. NCA Credit Repair is a premiere credit repair company, dedicated to helping people with bad credit. Give us a call today, receive a free evaluation and find out how we can help YOU! - 16089
About the Author:
Jon Ochs is the founder/CEO of NCA Credit Repair, one of the most trusted and respected Credit Report Repair companies in the nation. Visit http://www.ncacreditrepair.com for more info on credit and credit repair.
