When it comes to Tradelines, there are actually quite a few misconceptions as to which ones will actually boost your credit score. Some of these misconceptions include:
Unfortunately, none of this is necessarily true.
In fact, in all of our years of credit experience, we haven’t found any of these things to be solid factors when it comes to the best possible credit scores.
Quality > Quantity
Just because you see a package with tons of tradelines does not necessarily mean that it’s better. Just like with anything in life, quality resides over quantity. We recommend looking for a tradeline with a good history and age instead.
Higher Limits or Age Aren’t Necessarily Best
If you get too high of a limit on your tradeline, it could negatively impact your credit score. Of course, while it is true that whoever the original credit owner was worked very hard to gain those high limits, credit score modelers may not look at it the same.
For example, FICO treats different ages very differently when measuring a score. Younger people are much different than older people. If you give yourself too high of a limit way too fast, you may end up putting yourself on another scorecard, which could negatively impact your overall score.
We always recommend being conservative when looking into limits. This goes for the age of the tradeline as well.
As a good rule of thumb, you never want to backdate your 18th birthday when buying a tradeline. If you are 30 years old and you buy a 25-year-old tradeline, you are essentially telling a company that you started gaining credit at age 5.
Expensive Does Not Mean Better
The best tradelines will be the best tradelines, not the most expensive tradelines. The only reason a tradeline is expensive is because someone is putting a higher price on it.
Somebody could give you an expensive tradeline that isn’t right for you, meaning it is a bad tradeline in your case. In the same way, someone could have the perfect tradeline for you that just so happens to be one of the cheapest tradelines around.
First, look for the best tradeline, then find the right price.
Ready to Boost Your Credit Score?
If you’re ready to boost your credit score the right way, Personal Tradelines can find the best tradeline for your needs! Plus, you can speak to some experts to get help in selecting the right tradelines for your specific situation.
It’s time to get your credit score back on track, and there is nothing that can do it more quickly and efficiently than a gold tradeline!