When it comes to primary tradelines, I’ll make you a deal: You listen to two quick definitions and I’ll explain something very valuable to you. By valuable, I mean it will save you a lot of time an energy. This is especially true because I believe the concept of primary tradelines is universally misunderstand. So, here goes…
What is a primary tradeline?
A primary tradeline refers to a credit account that is listed on your credit report, showcasing your payment history and account details. It is typically an account that you have opened in your own name, such as a credit card or a loan. The primary tradeline plays a crucial role in determining your creditworthiness and can significantly impact your credit score.
What is an authorized user tradeline?
An authorized user tradeline, on the other hand, is a credit account where someone grants you access to their account. This means that you are added as an authorized user and the account’s payment history and details appear on your credit report. However, you are not responsible for making payments or managing the account. This can be beneficial if the account has a long positive payment history and low credit utilization, as it may help boost your own credit score. Keep in mind that while authorized user tradelines can have some impact on your credit, they are not as influential as primary tradelines in terms of establishing creditworthiness and building your credit history from scratch.
Purchasing authorized user tradelines.
Purchasing authorized user tradelines involves buying access to someone else’s credit account as an authorized user. This is done with the intention of benefiting from the positive payment history and low credit utilization associated with that account. Some individuals or companies offer these tradelines for sale to those who want to improve their credit score quickly.
Primary Tradelines vs Authorized user tradelines.
Because you can buy authorized user tradelines to improve your credit score and because primary tradelines have a larger impact on credit scores, the idea of buying primary tradelines has emerged.
Here’s the valuable information I promised you: You cannot legally buy primary tradelines.
Although this is true, there is some good news: You don’t need to buy primary tradelines.
Buying authorized user accounts is known to be effective. You can buy those in order to improve your credit score and then you can apply for and establish you own primary tradelines thereafter.
Either way: Take action.
Whether you decide to purchase authorized user tradelines or work on establishing your own primary tradelines, the key is to take action. Don’t let your credit score hold you back from achieving your financial goals. By actively seeking ways to improve your credit, you are taking control of your future.