Seasoned Trade lines are lines of credit that a borrower has maintained for 2 years or more and have managed to be in good standing. “Seasoned” means the account bears an established data. And when an authorized user is added to these seasoned accounts, then there’s a positive impact on the score of this authorized user. Seasoned trade lines can elevate the age of accounts on an average, lessen the ratio of debt to credit, which in turn leads to a hike in the credit score.
There is no particular number or range that can be quoted here, however this increase in the credit score depends on the individual’s current credit report and data and also it depends on the selection of a seasoned trade line who can assist appropriately to work on the deficits in the credit score. But this much is rest assured, that there has never been a decrease, the score has always been positively impacted.
All information about Seasoned Trade lines can be found on the internet, but it always comes with an upfront cost. There are some companies that ensure that the entire money is protected, so it is key to do a good research before selecting a particular organization.
If the borrower has chosen a proper seasoned trade line and the even the company assisting in the process is a well reputed one, then as soon as the company adds the seasoned trade line, there is an instant increase in the score. Which means, as soon as the seasoned trade line impacts the report. It takes about 15 days to 45 days for the seasoned trade line to hit the credit report.
So, yes, it is possible to increase credit scores through seasoned trade lines. What is important is, to do a proper homework about the company who would act assist.