When people ask questions like “will X happen if I buy tradelines,” it forces us to make statements for which the Federal Trade Commission may want to punch us in the face (legally speaking), because:
So, since we can’t predict the future, especially since we haven’t seen your particular credit report, I am going to preface my answer with one huge it depends.
At the end of the day, your credit score will increase if adding positive tradelines to your credit report is the only thing that changes about your credit report (ruling out new negative items, like missed payments, new collections, etc.). There’s nothing that can change that. However, you can mitigate this benefit in many ways, such as:
- missing payments on current accounts when the trade lines hit
- going into collections when the trade lines report
- getting an account thrown into charge-off status right when the tradelines appear
These negative items, among others, usually require credit repair prior to adding tradelines. So, the real question is will a particular tradeline or group of tradelines increase your score so much that the negative impact from charge-off or unsettled accounts is not economically significant?
With that rephrased question, the only answer is possible after a thorough credit report analysis of your credit report, because no charge-off collection account is the same and will have different impacts on your credit score depending on a multitude of factors. For example, how old was the collection, what was the date of last activity, was it paid off or not, was it settled for less than the full amount, etc. Depending on the answers to those questions, the collection or charge-off account will have different impacts on your credit score.
Only until you answer those questions can we determine whether trade lines will help.
You should reach out to us for full credit report analysis for a reliable answer to this question rather than a general hypothetical one. We look forward to speaking with you.