Buying Tradelines is one of the top ways for young people or people with poor credit histories to begin establishing good credit. We like to think of Tradelines as a fast track to where you eventually want to be at with your finances.
Unfortunately, as with any good process, there are many mistakes tradeline buyers often make when it comes down to buying them. We’re hoping that this small list of common tradeline buying mistakes will help you make the most out of your tradelines!
One of the most important things to understand when you are planning on purchasing tradelines, is how tradelines work. If you don’t have a solid understanding of how tradelines work, you may run the risk of letting unreputable tradeline dealers or salespeople take advantage of you, leading your astray and trying to sell your tradelines that won’t work for the situation that you are in.
If you’re nervous about purchasing tradelines because you’re unsure of your situation, make sure to contact us beforehand so that we can help you through the process.
New tradelines won’t post to your account if you have either credit freezes or fraud alerts on their already. These are essentially one in the same, as fraud alerts will freeze an account so that you can not add any new information to it. If you realize that you have fraud alerts on your credit file, the first thing you must do is get rid of them. To do so, you’ll have to contact the credit bureau and explain to them your situation.
Something we often see people doing is judging the power of a tradeline based on its price. As with most things in life, we assume that the more expensive it is, the better it is. With tradelines, that is not always the case.
Let’s assume that you are a person who has credit that has been fairly established, yet you are looking at a 1yr old seasoned tradeline. Unfortunately, that 1 year old tradeline might not improve the average age of your accounts or improve your utilization ratios, as they might already be low. In this case, that specific tradeline might either A) not do anything at all or B) hurt your credit even worse.
Buying Tradelines The Right Way
Buying the right tradelines might be the best thing that you ever do for your financial situation. It is important that you talk to someone who can help you before you make an uninformed decision, as you could end up falling into a trap that will hurt you more than help you.
Here at Personal Tradelines, we help to connect people with the proper tradelines for their specific situation. Make sure to look through our website to get a better idea of how everything works, and don’t hesitate to reach out to us if you have any questions.