With Seasoned Tradelines, you can drastically improve your credit score in a short period of time. Anyone who knew about it can confirm that they were able to qualify for lower interest rates on mortgages, car loans and so on. It is a pity that there is little time left to take advantage of Seasoned Tradelines. There is still a way to achieve the same goal of improving your credit score in the shortest amount of time Primary Tradelines.
Fico (Fair Isaac Corporation) has recognised this trend and has vowed to put an end to it. The reason is that this could be seen as fraudulently improving your credit score. There is nothing wrong with that, except for the fact that banks do not make as much on someone with a good credit rating as they do on someone with a bad credit rating.
People have often made deals without realising their implications. For example, a parent sends their child to school and adds them as an authorised user on their credit card. The student benefits from being able to use the card without having to apply for one himself, and the good history goes with him.
Many factors come into play when establishing credit reports and credit scores. Measuring a person’s creditworthiness depends largely on how the holder can improve and maintain their credit scores. One of the best ways to improve reports and scores is to use trade lines.
To fully realise the potential of this tool, one must first understand its importance and nature.
A trade line is simply a credit account. This type of account has many classifications, which are essentially instalment accounts and revolving accounts. Instalment accounts include all loan agreements, such as personal loans. Revolving accounts, on the other hand, are typically retail accounts or credit card accounts. The trading account can be any credit account, e.g. a car loan, a mortgage loan, even a utility account, a payday loan and a mobile phone bill.
A trading line that has been in place for 2 to 5 years or longer is called an “experienced trading line”.
These are usually revolving lines of credit that are used to significantly improve a person’s or consumer’s credit score. Depending on how old the credit line is, it has a certain impact on the credit score, e.g. the FICO score.
Seasoned tradelines and Primary Auto Tradelines have a high limit with a very low “zero balance” or a low balance to further improve the impact on a person’s credit score.
A high account balance, e.g. USD 25,000, with a zero balance and an impeccable payment record over the last 3 to 5 years will certainly have a positive impact on a person’s credit file.
How can this kind of trade be legal, one might ask? Some have questioned this practice for years, but it is considered a “grey area” because the credit bureaus are not government agencies Fast Posting Tradelines, but simply private credit reporting services that produce reports on behalf of small businesses. They report credit for the customers to whom a small business owner offers credit and report on those same customers to whom the small business owner or a larger business may offer credit.
