01 Jun 2012

tradelines

What are tradelines? People are often confused about what tradelines are. The answer to “what are tradelines” is simply this… it’s just another word for “account” on your report. The term “tradelines” is a financial industry term for an account. Usually, this refers to an account appearing on someone’s credit report. In our opinion, a large majority of people searching google for “what are tradelines on a credit report” are referring to the addition of seasoned tradelines to boost your credit scores.Of those people, they usually hear about the concept from friends, real estate agents, credit repair specialists, or mortgage brokers. Often, the concept is discovered in their effort to increase their credit scores. Tradelines are perceived as a secret tool to quickly increase your credit score. This is especially true in the face of a credit profile adversely affected by negative items, such as late payments, charge offs, etc. While I don’t want to overstate or unrealistically agree with such a contention, I do have to agree to some extent.   What are Trade lines on your credit report? As discussed above, any account appearing on your credit report is a tradeline. Whether it’s good or bad, your collective tradelines make up your credit report. The information from your creditors regarding each account (otherwise known as a tradelines) is collected by the major credit bureaus; Experian, Equifax and Transunion. What are Seasoned Tradelines? Seasoned tradelines is a term mostly describing the addition of an authorized user account on your credit report. Obviously, the intent is to have a seasoned account (an account with perfect payment history over an extended period of time) added to your credit report. This account will have a positive impact on your credit report given it’s stellar history and perfect credit posture. Now, when someone asks what are tradelines, you can give them an accurate answer.   What does Superior Tradelines mean? What are tradelines? Better question, what is Superior Tradelines? Superior Tradelines is a company dedicated to improving credit score by adding individuals to authorized user accounts in perfect standing. If you don’t have a relative willing to add you as an authorized user, you can still benefit from this concept by simply purchasing a tradeline from us. To learn more about how this process works. To learn why you should buy tradelines from […]

26 May 2012

piggybacking credit history legality

Piggybacking credit and piggybacking tradelines is the topic of this article. Piggybacking is the same thing as adding authorized users, adding trade lines, etc. It’s all synonymous. The term “piggybacking” refers to hitching a ride on someone else’s good credit standing. The origins of piggybacking credit – a very brief discussion. The ability to piggyback off of someone’s credit (or more accurately stated, their credit card), came about as the result of the 1974 Equal Credit Opportunity Act. Piggybacking credit was actually an unintended consequence of the way this law was written. To understand in more detail, you need to read the file “piggybacking credit” attached below. Does piggybacking credit or piggybacking tradelines still work? Despite what the “rumor net” will tell you, piggybacking credit has not changed since 1974. A lot of people search for piggybacking followed by 2010, 2011, etc., as if the concept has changed. To end this search, all you have to do is keep up with the regulation that implemented this concept. When the Equal Credit Opportunity Act changes, then it’s time to re-evaluate whether or not the piggybacking still works. The legality of piggybacking credit – with a disclaimer… First, we are not rendering legal advice. We are merely writing as laypersons and pointing you in the direction of what we find relevant on the matter. The document discussed above and as attached below explains the legality of piggybacking very concisely. Here’s an example: [blockquote]This is possible because creditors generally have followed a practice of furnishing to credit bureaus information about all authorized users, whether or not the authorized user is a spouse, without indicating which authorized users are spouses and which are not. This practice does not violate Reg. B.[/blockquote] Indeed, after someone has done their research on the matter, they set out on a new search trying to find a reliable tradeline company. This post isn’t a sales pitch, so we will leave you with this. Read our post, Why Buy Tradelines From Superior Tradelines, and if you have any doubts left, please keep looking and find for someone else. Otherwise, give us a call at 800 431 4741 or email us at info@superiortradelines.com Download “Piggybacking credit” files: Piggybacking Credit – piggybacking credit

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