CATEGORY / Financial

Are Tradelines Legal to Purchase?

While there has been controversy over whether or not purchasing seasoned tradelines is legal or even beneficial, there are some basic fundamentals to consider. Tradelines are nothing more than seasoned accounts that individuals may purchase to boost their own credit score so they do not have to pay higher prices and interest rates.

 

We all know and understand that when we walk into a car dealership they are going to run our credit report and if our credit score is low then we will either not be approved for an auto loan or we will be approved but have to pay an outrageous interest rate. It is no secret that it pays to be poor. Now if your credit score is high then not only will you be approved for an auto loan with a 0 or low-interest rate but they usually knock some of the prices off as well. As much as we all want that perfect credit history where we always pay all of our bills on time and never had a medical bill slip through the cracks that wound up in collections, it is just not realistic for most people. While we are hard working Americans that struggle financially sometimes, we should not be taken advantage of because we are human and might have missed a payment or two.

 

The first action to educate yourself on your credit and tradelines is to take a look at your own credit report. Most people have at least one human error on their credit report to start off with. Hiring a credit repair or credit consulting agency is the perfect solution to deal with all the negative information and errors on your credit report and have them removed. This might take anywhere from 30 to 120 days depending on how many items on your credit report that needs to be disputed. When your credit report is now as cleaned up as it can be, you have a more accurate knowledge of what your credit score is and what you need to do to raise it to qualify on whichever loan you are wanting to take out but also how to keep your credit healthy and the benefits from that.

 

Now that your credit is cleaned up and all errors removed etc it is now time to boost your credit score tremendously with a tradeline or two. Tradelines are an essential way to qualify for a zero to low-interest rate loan or mortgage. When you realize the difference in pricing and money you spend in interest rates alone, you realize how wonderful tradelines truly are and what an asset they can be for everyday hard working Americans that are tired of making the banks richer.

It is important to remember that becoming an authorized user on a seasoned account does not mean that you have privileges to that account. Your privilege is the benefits of a lengthy stable payment history that you do not have yourself. Tradelines can be purchased for as low as $250.00. The financial advisor will educate you about which tradelines would benefit the most and what will keep your credit in good health for as long as possible. The most important information to learn here is to strategically plan and budget your finances to save yourself the most money, after all, you worked hard for it, do not just give it away.

The Benefits of Credit Repair

Many of us do not have the time nor the patience to take on the project of repairing our credit. We are often overwhelmed with our demanding jobs and busy life that we end up neglecting something that can truly stop half of our stress and save us thousands and thousands of dollars in the long run. Depending on how good or how poor your credit score is, is a key factor in what you are charged via interest rates. Are you familiar with the phrase “the richer get richer and the poorer get poorer’? Well unfortunately that could not be any more than the truth. When someone rather it be a mortgage company that pulls your credit or a salesman at the dealership where you are shopping for a new vehicle, or even credit card companies you applied for credit with, they all have one thing in common and that is charging you with as much interest as they can get away with to line their own pockets.

What many people do not realize is that there are reputable companies such as Credit Repair Phoenix as well as many other credit consulting companies that can take the burden from your shoulders and help build your credit as well as educate you on ways to maintain a healthy credit score after all the issues are dealt with and gone. It is a wise investment to invest in yourself and your financial future quite frankly depends on it. No one is going to do it for you and nor is it anyone else’s responsibility to do so. You must act and take the first step. For relatively little money you can save yourself tens of thousands of dollars in the future. Who wouldn’t want that?

Unfortunately, identity theft is on the rise and a lot of us do not even monitor or pay someone else to monitor our own credit report and personal information. You are entitled to one free credit report a year from all three credit bureaus. Many of us do not even bother with it unless we are buying a new car or been turned down on a credit card we applied for or even worse unable to rent a place to live because our credit is so poor. Credit consulting companies work with your individual needs and goals and focus on your financial future. All the things you do not want to waste your time with the credit consultants take the lead. They know and understand your time is valuable and handle all the paperwork for you.

Meanwhile while they are finding and removing inaccurate and damaging items on your credit report you can take a few minutes of your time and help your financial situation as well. Many credit card companies charge way too much interest. If you have established a good long- term payment history with them or even with just one, call them and ask to speak to someone about lowering your interest rate. Most credit card companies will do this if you ask and have a good payment history with them. The worst they can say is no, not at this time. This is also something you want to do after the credit repair/consulting company has been able to remove negative items or inquiries off your credit. By this time your credit score is most likely to have gone up quite a bit.

A sure way to bump your credit score even if it is just temporarily is with tradelines. Tradelines play a very efficient role as they have many benefits and your credit consulting company will explain the different types and what will benefit your specific financial goal that you are seeking and advise you accordingly. Some tradelines are very a very short time, as little as two months as others are for longer terms. Tradelines can be most helpful if you have no credit as well. It can establish a long payment history that can raise your score a hundred points if not more in some circumstances.

Credit repair/ consulting companies are the ones in the know, they have the information and technology to deal with all the red tape the credit bureaus make individuals like yourself afraid and overwhelmed to deal with. Trust in the credit consulting firm you choose. They are there to lead you down the right path.