Does anyone have experience on purchasing a "seasoned tradeline" to improve their credit score?

Answer 1

I purchased two trade lines last year. This is done using a loophole in a 1970's act by congress that was to help married woman who did not have credit benefit from their husband's credit history. While that was the purpose of the law, it did not prohibit others from being able to benefit.

The concept is simple. You are paying to have another person add you as an "authorized user" on their established credit card. The entire history of that card then becomes part of your credit file. That is why the cost is so high. You are paying a middle man who takes a profit who in turn pays his clients who are adding you as an authorized user.

I paid $1600 to be added on two different accounts. Within 3 months my credit score had gone up 83 points. This allowed me to get a mortgage at a much better rate than otherwise I would have. I have since been removed as an authorized user from both accounts, but the credit histories continue to show on my credit report as closed but with perfect payment historeis.

Is it legal? Yes. There is nothing illegal about it. Is it ethical? This is debatable. Some may argue that its not ethical to get points for something that is not really yours. But it is a loophole in the law that allows this to happen. You should understand that this in no way removes any negative items from your report and it is clearly noted that you are an AUTHORIZED USER of the account on your report. However, because you have the benefit of having the entire history of that account reported on your credit report, it results in a boost of your credit score, at least it did for me.

PLEASE do a search and find a reputable company. Some charge more than others. Only use a company that promises they ONLY add accounts that they KNOW for sure report to all three credit reporting companines and also make sure you have that guarantee in writing.

While this may not be for everyone, it was great for me. The difference in the interest rate I got on my mortgage after adding the two tradelines means that I will save more than 100,000 bucks over the life of my mortgage. For me personally, that was worth the $1600.00 I paid.

As with all things though, I am sure there are people out to take advantage. There are now more than 10 companies on the web offering this service, so shop smart and pick one that is right for you. Call each one and talk with the folks and only purchase a tradeline after you are comfortable that the person you are speaking with is honest.

But it really did work for me! Hope that helps!

Answer 2

I think you really need to check this out before you proceed. You will see all kinds of promises that their "seasoned tradeline" will improve your credit , possible into the 700's.

A seasoned tradeline is an account that has been open for at least 6 months or longer that has a perfect payment history and a low account balance. It is someone elses account information. This does not remove or modify any negative credit history. If you have been late on a loan to bank ABC, your report will show that.

The normal person will have about 30 reportable items on his report, because the report goes back ten years. They skirt on even being legal. There is one place for sure that you don't want to be reported for being dishonest, your credit report.

Answer 3

This Site Might Help You.

RE:
Does anyone have experience on purchasing a "seasoned tradeline" to improve their credit score?

Answer 4

Seasoned Tradelines

Answer 5

To expand on what Kevin H shared: It is a very effective move to approach a family member or friend and request that you be added to one or more of their "seasoned" credit cards. Well managed, unsecured, short-term high debt is an excellent way to increase your credit rating fast! (Especially if you are floating in the low 600 range in credit score.) You'll climb into the high 600s in no time. If your score is in the upper 600s and you're just trying to spring over 700, then assuming payments on a boat, jetski, motorcycle, car, etc. will do the trick quite nicely.

CAUTION: DO NOT buy a seasoned trade-line!!!

Take your time and you'll be fine.

Answer 6

You dont buy a seasoned account, you establish one. Seasoning is a term for time when referring to an account. Taking over someone elses payments for example would be buying a seasoned account but you are restarting the personal seasoning of it that will affect your score.

Answer 7

How do you "purchase" a tradeline? This has scam written all over it. I would walk away.

Answer 8

Do your own research. You will be amazed!!! Most of the reply's here are well meaning but inaccurate.

Answer 9

no