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Many people are curious if Tradelines still work in 2022.
Yes, the answer is yes, they do. If you’re looking to learn why tradelines are still a great option in 2022, make sure to keep reading.
A Look Into The Law
Almost every year we receive questions from people about whether or not purchasing Tradelines for sale is still a viable option to help raise their credit scores, and every year the research points to the same place. All you have to do is look back to the introduction of the Equal Credit Opportunity Act, which was passed back in 1974.
This act implemented what the Federal Reserve labeled “Regulation B”. Regulation B provides open-end credit choice from an authorized user. Essentially, a creditor cannot restrict an account holder from adding an authorized user to his or her account based on the authorized user’s relationship to the account holder.
For example, a creditor cannot allow you to make your spouse an authorized user, though not allow you to make your friend an authorized user.
An authorized user could be a family member, a good friend, or someone you met on the street today.
The Benefit Of Being An Authorized User
So now that you understand that an authorized user is permitted under the laws stated above, it is important to understand that being an authorized user on someone else’s account (an account that is in good standing) can be a major benefit for your credit score. In fact, piggybacking on someone else’s good credit is a great way for individuals with short or thin credit histories to improve their scores.
The Burning Question: Do Tradelines Still Work?
Yes. Many people questioned the legitimacy of the Tradeline business after everything that happened back in 2008. Many large parties made cases against the method of piggybacking for improved credit. Luckily, the law worked in favor of the people and the ultimate outcome was that piggybacking and tradelines were here to stay. Even the UltraFICO score was no match.
Why is this, you ask?
It is thanks to the Equal Credit Opportunity Act that we discussed earlier. Law is law, and that law hasn’t changed. Of course, if that law were to change in the future, we might be in trouble, though until then, tradelines and piggybacking remain the best methods for consumers to help increase their credit scores drastically.
Where To Get Tradelines
There are many things to consider when looking for seasoned tradelines including age, price, and more. You want to make sure that you get them from a reputable tradeline dealer so that you know everything is in good standing. If you’re not sure what tradelines are best for you and your situation, make sure to get in contact with us here at Personal Tradelines.
We can provide you with all of the information that you need to buy the right tradelines and get your credit score off to a good start or back to where you want it.