Do you ever get lost in the sea of tradelines and wonder which ones will be best for you?
For example, should you get 10 baby tradelines or one powerful old one?
Should you get an aged tradeline with a low credit limit, versus a high credit age with a high credit limit?
Or should you select the cheapest tradeline?
Should you select from the same cardholder?
Here are the answers in 5 tips for selecting the best tradelines
Tradeline Tip 1.
Higher credit limits and older aged tradelines correlate to bigger credit score increases.
Tradeline Tip 2.
You should have at a bare minimum, at least 3 OPEN & POSITIVE tradelines (AKA accounts) on your credit report. Meaning one tradeline is NOT enough to get approved for most anything.
Tradeline Tip 3.
Within your credit monitoring site, go to the ‘credit factors’ section. It will tell you exactly what you need as far as tradelines go. Are your accounts of low age? Then you need an aged tradeline at least 10+ years old. [The older the tradeline, the bigger your credit score increase.] Is your debt over 30% utilization? Then you need a high credit limit card to help balance out your utilization.
Do you have negative inaccurate accounts? Then you need a credit sweep.
Do you have a bunch of credit inquiries not linked to open positive accounts? Then you need inquiry removal.
Tradeline Tip 4.
You should select tradelines from the same cardholder OR you should purchase a tradeline package. Each time you are added to a tradeline, a new address gets imprinted to the back end of your credit report. That is fine, however, you want to make sure you aren’t getting way too many tradelines with all different addresses because it shows instability on your part. Stick with one or two cardholders, or just buy a tradeline package where we hand select tradelines from the same cardholder, in an age progressional format, so it looks like your credit has improved over time.
Tradeline Tip 5.
Purchasing a tradeline while you have negative items on your credit report is like putting perfume on a pig. If you have any negative items, you should go through a credit sweep to ensure you can get those inaccurate items as low as possible so that you have the best possible canvas for adding tradelines to.