Recently, we read an article about adding tradelines to a loved one for valentines day. The point is that increasing someone’s credit score by adding them as an authorized user is romantic, indeed. But, much like an attorney telling newlyweds about prenuptial agreements, we’re going to take a different spin on this. We want to talk about the reality of adding someone as an authorized user and make sure you and the authorized user are set up for success.
Balances or tradelines? Whether you should pay down balances or buy tradelines depends on which options achieves your goal. Lending requirements might require you to pay down balances regardless of score (so, in that case, pay them down) and other lending requirements might pardon you balances so long as your score increase (so, in that case, buy tradelines). When it comes to credit, the best way to know if you’re getting a good answer is if it starts with “it depends.” In the case of whether you should pay down your debt or add tradelines, well… it depends.
A recent discussion revealed someone’s experience with an unfair and damaging collection account. The story is below, but the alarming facts are these: She had an illegitimate collection pop up for a bill insurance should have paid. Her credit score dropped over 100 points… from one collection account. She had authorized user tradelines. The credit score increased 103 points in under 12 days by removing a $195.00 collection.
Every year since we started this company, we see search terms in Google for tradelines for sale followed by the current year. “Tradelines for sale 2019” is no different. We assume those searching are wondering whether or not tradelines can still be purchased in that current year or whether not tradelines work.