21 Nov 2023

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Explain renting tradelines as a reference to buying authorized user tradelines. Renting tradelines is a unique approach in the world of credit-building, offering individuals an alternative to purchasing authorized user tradelines. Tradelines are credit accounts that appear on your credit report, reflecting your payment history and overall creditworthiness.

When you rent a tradeline, you essentially pay to be added as an authorized user on someone else’s established credit account. This arrangement allows you to benefit from their positive payment history and utilization ratio, ultimately boosting your own credit profile.

20 Nov 2023

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tradeline list
tradeline list

Tradelines lists have an implied expectation of costs, results and a company’s legitimacy. Multiple times, each day, we receive emails stating something to the effect of “please send me a tradeline list” or “provide me a list of tradelines”.

Our opinion on tradeline lists.

One of our sales guys compares this question to medicine. He says, asking for a list of tradelines is like asking for a list of medicine to pick through. Both are horrible ideas. Also, providing a list of tradelines is pure sales. Everyone wants a list, because it makes them feel in control. Therefore, some companies play to consumer’s fantasies of control by offering “lists.” For example:

If you had a list of cars from a car dealer, would that be helpful? No, because you’re looking for a particular vehicle that meets your needs, price range, etc. If they had a complete list of cars you didn’t need, couldn’t afford or wouldn’t meet your transportation goals, what’s the point in the list?

Pro tip:

Don’t ask for a list, make the company provide a specific tradeline package designed for you and your goals!

Put your goals above marketing gimmicks. Make the company tell you what they think you need… don’t do the company’s job for them.

When tradeline lists are useless.

Here are the problems with tradeline lists and some things you should take into consideration before you seek or receive one.

Picking from a tradeline list based on price.

If you pick from a tradeline list based on price alone, you could be setting yourself up for failure. No two tradelines are alike. No two credit reports are alike. You must be appropriately matched in order to receive any useful result from the addition of tradelines. Let’s say you have “enough” money to buy a $4,000.00 limit tradeline with two (2) years of history. Well, what if you needed a $10,000.00 with six (6) years of history. You got a good deal on the 4k, but your scores didn’t go up. It doesn’t matter if you spent $600.00 or $2.00 on the tradeline; you wasted your money. Picking from a list of tradelines can cause you to fall into this trap.

Picking from a list based on age.

The same concept applies to pick from a list of tradelines based on the age of the account. If you can afford only an account with relatively limited seasoning, it doesn’t matter if you got a good deal or not. If the seasoned tradeline is insufficient to achieve your credit goal, it makes no sense to buy it. Again, picking from a list will trick you into believing you are in control over something over which you have no control.

Picking from a list based on the limit.

Similar to picking a tradeline from a list based on age or price, if you pick a line of credit with the incorrect (whether it be too large or too little) limit, you can actually damage your credit score. This is much worse than simply receiving little or no benefit… you can actually make your credit score go down. The basic idea is that if you are bracketed in a certain scorecard, and you bump yourself out of it, your entire credit score will change and refactor your current negative and positive accounts.

When tradeline lists are useful.

There are situations where tradeline lists are useful. Here are a few examples:

You’re a mortgage broker or underwriter.

Mortgage brokers and underwriters look at thousands of credit reports a year. They know them inside and out and have continuing education requirements to keep up-to-date with relevant trends. We provide lists to affiliated mortgage brokers and underwriters as we know they won’t make poor decisions with the information.

You’re a credit repair company.

Similar to mortgage brokers and underwriters, credit repair companies (well, legitimate credit repair companies, I should say) are experienced and are very aware of the beneficial use of authorized user tradelines. They are capable of determining the appropriate line of credit to add to their client’s file. In that regard, we allow affiliate credit repair companies to review our list of tradelines.

Here’s the bottom line.

None of this is to suggest the average person is incapable of utilizing a tradeline list appropriately. You have a life, kids, maybe school, a job (or two), yard work, etc. There’s just no chance the average person has the time and energy to figure out this unbelievably complicated system. In that regard, we view it as a disservice to offer them a tradeline list to pick from. Here’s why:

  1. Our tradeline inventory changes by hour: We have individual clients and affiliates (third party credit repair companies) that buy our tradelines for their clients. So, it would be impossible to keep a list updated outside of our CRM (customer resource manager).
  2.  A majority of the time, clients may misunderstand the credit analysis and tradeline recommendation process and pick at random from a list of tradelines. If you pick, for example, based on price, you might pick insufficient tradelines to achieve your goals. Alternatively, cash packed clients might want to buy the “biggest and best” tradelines and actually flag their file for adding lines outside a reasonable range for their file. The other option is that they might pick tradelines based on the time it reports rather than considering the cost or the effect it will have on the credit scores. In other words, we’ve found that it provides no actual benefit to clients to slap a huge list of tradelines in their face… in fact, it is more likely to hurt them. I would recommend caution working with a company that sends you a list of tradelines and says “pick from this”, because it tends to indicate that they have no real interest in your credit situation, but only an interest in selling slots on authorized user tradelines.
  3. We do keep a list of tradelines on the back end of our site. However, this is only available to affiliates. Even then, they can’t just pick at random. We help them pick, but it just makes the process easier for them based on the fact that they are ordering multiple tradelines at a time.

We recommend connecting with a Tradeline expert in our portal. They will be able to answer all of your questions and, trust me, this will be much more beneficial to you than a list of tradelines.

20 Nov 2023

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What are tradeline companies?

Tradelines companies are businesses that specialize in buying and selling tradelines. Tradelines are credit accounts on an individual’s credit report, which can include credit cards, loans, and lines of credit.

These companies allow individuals to become authorized users on established tradelines, temporarily boosting their credit score.

This strategy is often used by those looking to improve their credit quickly or qualify for better loan terms. However, it is important to research and choose a reputable tradelines company to ensure a legitimate and ethical approach to improving one’s credit.

Signs of a good tradeline company.

When looking for a tradeline company, it is important to ensure that you choose a reputable and trustworthy one. Here are some signs of a good tradeline company:

Reputation.

Firstly, a reputable company will have a strong track record and positive customer reviews. They will have a history of providing reliable and effective tradeline services to their customers. It’s important to do thorough research and read reviews from other individuals who have used the company’s services before making a decision.

Transparency.

Secondly, a good tradeline company will offer a wide range of tradeline options. This means they should have access to a diverse selection of credit accounts with different credit limits, ages, and payment histories. Having a variety of tradelines to choose from allows individuals to find the best fit for their specific credit goals.

Transparent pricing and terms.

In addition, a reputable tradeline company will have transparent pricing and clearly defined terms. They will provide you with a breakdown of the costs involved in purchasing a tradeline, including any fees or charges. They should also explain the terms of becoming an authorized user on the tradeline, such as how long you will remain on the account and what impact it will have on your credit report.

Experience.

A good tradeline company will have significant experience in the industry. Look for a company that has been operating for several years and has a proven track record of success. Experience not only demonstrates expertise in the field but also indicates that the company has built trust and credibility with its customers over time.

Effectiveness.

Determining a tradeline company’s effectiveness is as important as it is difficult. After all, how can you truly evaluate the company unless the did (or did not do) what they promised. We have an answer for you. Superior Tradelines published a huge study with before and after results with over 1,000 participants. You can see all the scenarios and outcomes.

Customer service.

Excellent customer service is crucial when choosing a tradeline (or any) company. A reputable company will prioritize customer satisfaction and have a dedicated team to address any concerns or questions you may have. They should be responsive, knowledgeable, and willing to go the extra mile to ensure your experience with them is smooth and positive.

Compliance.

Compliance is a key factor to consider when choosing a tradeline company. It is important that the company operates within the legal boundaries and follows all industry regulations. Look for a company that is transparent about its practices and can provide evidence of compliance with the law.

Conclusion.

One of the most compelling things about our company is that we allow you to evaluate us, up front. You can read our study to see potential results, you can read out knowledge base, you can run through our simulator, or you can watch our demo video. Also, a free consultation is just a click away.

20 Nov 2023

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You basically have two options when it comes to tradelines. First, you can boost your credit with free tradelines by leveraging the power of friends and family. Second, if that’s not an option, turn to Superior Tradelines for trusted credit solutions.

Tradelines from friends and family.

When it comes to getting free tradelines, one of the most effective methods is reaching out to your friends or family and asking them to add you as an authorized user. This simple yet powerful approach can help boost your credit score and expand your credit history significantly. By piggybacking off their good credit, you can benefit from their responsible financial habits and establish a positive credit profile for yourself. So don’t hesitate to have an open conversation with your loved ones about this mutually beneficial way to improve your creditworthiness.

Buying tradelines from a company.

If the option of asking friends or family to add you as an authorized user is not available, there are still alternatives to obtain tradelines. One reputable option is Superior Tradelines, a renowned company known for their expertise in providing top-quality tradelines. With their extensive network and years of experience in the industry, they can help match you with the most suitable tradelines that align with your credit goals. By choosing Superior Tradelines, you can gain access to valuable credit opportunities and enhance your credit profile effectively.

Either way, take action.

Don’t wait any longer to improve your credit and secure a brighter financial future. Reach out to your loved ones or consider reputable companies like Superior Tradelines today. Your creditworthiness awaits – take the first step towards a stronger credit profile now.

20 Nov 2023

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NOTE: The following is the conclusion to a huge (1,200 participant) study on the impact to credit scores by adding authorized user tradelines. Carefully consider it:

The addition of authorized user tradelines can be an effective way to improve a credit score. This effort tends to be particularly effective for individuals who have little to no credit history. For individuals with a starting credit score, authorized user tradelines can still be used to improve the credit score.

This study found that the average change in credit score for all 860 participants was a 108-point increase to Experian, a 70-point increase to Equifax, and an 83-point increase to TransUnion. Such a significant increase in score was expected since many participants started with no credit score. These participants skewed the results to higher-than-normal means.

The average change in credit score across all three bureaus was a 742-point increase for clients who had no credit score. This supports our hypothesis and makes sense because a jump from having no credit score (given a 0 score in this study) to even a bad score results in a 350-point increase since the lowest FICO score is 350. This finding is also in agreement with the study by the Federal Reserve (1).

The average change in credit score across all three bureaus was a 35-point increase for individuals who started the research with a credit score. This also makes sense because adding a tradeline to an existing score will dilute the impact of the added tradeline since there are factors beyond just the tradeline taken into consideration when determining the score.

More tradelines for credit score improvement has limits.

There was a positive correlation between the average increase in the credit score and the number of tradelines added. This increase was not linear, which agreed with our hypothesis, but contradicted the common opinion that more tradelines will always improve.

Because the credit scores consider multiple factors, adding more tradelines will dilute each tradeline’s impact. While this is still beneficial overall, there are diminishing returns on each line. Thus, any tradeline beyond the third added to the credit report tends to be only marginally effective at improving the credit score, particularly for individuals who started the study with a credit score.

During this study, there was a noticeable shift in the distribution of average FICO scores for each client from the lower score categories to the middle and higher score categories. This agrees with our hypothesis that tradelines help improve credit scores in a practical way.

This finding is also important because the score category that an individual is placed in impacts their interest rates and approval rates. Placement in a higher score category often results in lower interest rates and an increased likelihood of approval. Hence, the shift towards the higher groups implies that the tradelines can help the participants get approved for their financial goals or obtain better loan rates.

A higher limit does not always result in higher scores.

While it is commonly thought that the higher the credit limit of the tradeline, the more significant the credit score increase, this was not what was observed in the study. While the tradelines with over $35,000 had the most considerable average impact on the credit score, the tradelines from $20,000-$24,999 had the lowest impact on the credit score. The second and third most significant increases were seen by the tradelines that ranged from $10,000-$14,999 and $15,000-$19,999, respectively.

These findings indicate that while the higher limit tradelines can be beneficial for some individuals, the limit is not the only factor that should be considered when selecting a tradeline.

Additionally, there is no strong correlation between the size of the limit and the increase in the credit score. These findings also indicate that choosing tradelines appropriate for your credit file could be more beneficial than choosing tradelines based on their limit. While there are situations where high limit lines are necessary, this is not the case for most individuals.

In a similar vein, it was hypothesized that the older the tradeline is, the more impact it would have on the credit score. This was also contrary to the results in the study. It was found that tradelines with 6-10 years of history had the highest average impact on the credit score. Interestingly, the highest age group had the second-lowest effect on the credit score, indicating that age is not the dominant factor in determining the tradeline’s impact on the credit score.

The age of participants did not matter.

The impact of the tradeline for participants of varying ages was also analyzed. The study found no association between the participant’s age and the benefit they received from the tradeline. This implies that it is not the individual’s age that matters, but rather the information on the individual’s credit report that determines how much impact the tradelines have on the credit score.

Finally, every situation in which the tradeline did not result in an increased credit score was analyzed. The tradeline is just one portion of the credit report, and there are many other factors on the report that can limit or negate the impact of the tradeline.

The most common factors encountered when completing this study were increased utilization of the accounts, new collections, and new late payments. 35% of the FICO score is determined by the payment history and 30% by the utilization. Thus, it logically follows that poor payment history and high utilization can inhibit the tradeline’s effects.

Our findings support this conclusion.

Collection accounts matter.

Collections are also negative accounts that can hurt the credit score, which agrees that this was our third most common negative factor that inhibited the tradeline from providing benefits to the participant. Having recent negative information on the credit report can seriously impede the tradeline from impacting the credit score.

These are the most common factors that inhibit the tradeline from providing benefits. However, only 5.8% of the participants in this study experienced no increase or a decrease in their credit score.

While this study found a correlation between the addition of authorized tradelines and an increase in the credit score, some caveats go along with this analysis.

Credit scoring models change often.

First, credit scores are constantly changing due to all the credit reports’ factors and the ever-changing score models released by scoring companies like FICO. Because of this, isolating any one feature (age, limit, number of tradelines added, etc.) is next to impossible.

There were correlations between the tradelines’ features and the impact on credit score. However, the relationship between the features analyzed and the change in the credit score is not causative.

Additionally, all of the seasoned tradelines used in this study are in good standing, meaning they have no late payments, consistent utilization of the account, and utilization below 30%. Since late payments and high utilization can have adverse effects on your credit report and credit score, it is crucial to only utilize tradelines in good standing to improve your credit score.

This study did not analyze the impacts of tradelines that were not in good standing and cannot represent how poor standing lines affect a credit score.

Credit use can change scores.

Finally, all clients were using their credit outside of our study. During the study, consumers continued to use their credit. This added uncontrollable changes in the reports that could factor into the credit score. The primary examples of these are the client applying for new credit, making payments, or changing their credit utilization. These examples can alter the tradeline’s impact on the credit score, either positively or negatively, depending on the situation.