One question or discussion point that seems to come up often is whether or not the process of adding tradelines is the same thing as traditional credit repair, or if one is better or worse than the other. The strange part is the disconnect that seems to exist between what people perceive traditional credit repair to be.
What Is Traditional Credit Repair?
Credit repair as we know it is a way to remove accurate or unverifiable information from your credit report. While there are many companies that are honest in doing so, removing information that is inaccurate, there are also many companies that aim to only remove the information that is negative, no matter if it is accurate or verifiable.
Some companies use very surgical tactics to help get that negative information removed, getting in contact with people at lenders and credit bureaus to speak with them about the information on your report. On the other hand, some companies will use tactics like jamming.
Jamming is where a credit repair company will send a lender or credit bureaus a number of repetitive dispute letters in attempts to bury them in so much work that they end up removing the negative information from your report. At least, that is the idea. Unfortunately, it doesn’t always work correctly, and many people end up spending tons of money in hopes of getting their information removed.
Of course, getting negative information removed will improve your credit score, though is the risk worth it when you don’t know the outcome?
Bringing Tradelines In the Mix
This is where Tradelines come in handy. There are a few different ways that you can add Tradelines to your account. The two main ways utilize your name with a credit card account. Many people open new credit card accounts up by applying for them. If your application for your new account is approved, you will most likely have to send your account and tradeline information to your credit reports.
Some people have their names added to accounts as authorized users. For those who don’t know, an authorized user is a person who doesn’t have debt liability for an account, though is authorized to use the credit line. The credit reports of an authorized user will often use the account information on that specific account. This means that if that account has a relatively low balance limit and is in good standing, there could be a huge improvement in the credit score of the authorized user.
So What’s the Difference?
The true difference between credit repair in the traditional sense and credit repair using tradelines is a bit like simple math. With traditional credit repair, the idea is that you are having negative information subtracted from your report. On the other hand, tradeline repair makes use of added positive information to help boost your score and make your credit report feel more positive.
Here at Personal Tradelines, we have all of the information to get your tradeline buying off to a good start. Make sure to get in contact with us!