There’s a term in credit enhancement called “tradelines.”
Tradelines are an account on your credit report. For example, a credit card, car note, student loans, or a mortgage are all tradelines.
Broad regulations and legal loopholes allow for you to benefit from being an authorized user on another person’s tradeline AKA credit card (otherwise known as credit piggybacking). The issuing bank reports the positive credit history including the age of the account, the limit of the tradeline and the positive payment history to Experian, TransUnion and/or Equifax. The payment history, age, and limit have direct impact on the FICO credit score model which impacts your utilization ratio, average credit age and payment history. FICO® digests this newly added credit and recalculates your score with drastic improvements.
In other words, once you are added as an authorized user to an account, the history of that account appears on your credit report and will be treated as if it was your credit history.
Ideally you should have at least 3 open positive tradelines on your account. Meaning the account should be OPEN, the payment history is perfect, and the utilization is under 25%.
Too often, people think there is no hope for their credit score to increase.
Better, to think, there is hope and tradelines, when added correctly, can add 100+ points to your credit credit score.
Steps to Become an Authorized User:
We do this by adding you as an authorized user to a seasoned tradeline, allowing you to “piggyback” off of the account in good standing. Imagine what will happen when we add $20,000 of available credit with perfect payment history of 10 years to your credit file. Your credit score will increase dramatically almost overnight!
You are worth it!
904-515-6698 (call or text)
Written By Val Singles
Published 10/28/2018. Updated for Relavancy – VS 1/14/2019