Authorized User Trade Lines: What to Know

Authorized user trade lines can be a safe

Affordable way to improve your credit scores. Credit scores can be harmed by anything from deliberate actions to fraud and decisions that were not a

Authorized User Trade Lines What to Know

person’s fault. When a person’s credit score is affected, it can take months or even years to improve it again. Having the ability to buy a seasoned tradeline means that a person will be able to improve their credit using the good standing of other borrowers. The borrower with a high credit score allows the person who will buy a seasoned tradeline to use that tradeline as an authorized user, not for actual credit but as a boost to their credit score. Borrowers take some risk with having their personal information in the world, and they also run the risk of having the buyer use their account or information for ill-gotten gains. However, most companies that offer the ability to buy a seasoned tradeline will restrict the amount of information given to the buyer. This helps to reduce the risk and maximize benefits for both sides.

What should you consider when considering seasoned tradelines?

You should look at your credit score and the kinds of loans you can get with your current credit score. You should also look at your cash on hand and the possibility that you will make large purchases that require credit in the future. If you do need credit, you can end up paying hundreds or thousands more with a poor credit score than you otherwise would with a good one. It is true that opportunities to buy a seasoned tradeline can be expensive and require upfront payments, and they also bring your personal information close to strangers. But if you can considerably improve your credit score, the risks may far outweigh any of the possible costs.