The 3 Best Tradeline Companies of 2021
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You have stumbled upon the amazing concept of tradelines. They can even raise your scores by 50-100 points. Without wasting another second, you want to link up with the best tradeline company. Hold on. Before you buy tradelines, you should know how they really work. The truth is, they are not suitable for all situations and customers.
Purchasing tradelines also has its own set of challenges. You need verified accounts, guaranteed to post. In our guide, we cover three of the top places to buy tradelines online. Without further ado, let’s get started:
- What Is a Tradeline?
- The 3 Best Tradeline Companies of 2021
- Are Tradelines Legal to Use?
- 5 Benefits of Buying a Tradeline
- How Long Do Tradelines Stay on Your Credit Report?
- How Much Do Tradelines Cost?
- How to Choose the Best Tradeline Company?
- How to Buy Tradelines?
- 5 Mistakes to Avoid When Buying Tradelines for Sale
- How do Tradelines Affect the Average Credit Limit and Utilization Ratio?
- Is Adding Authorized Users Effective?
- Alternatives to a Tradeline
What Is a Tradeline?
You’re already familiar with tradelines. If you’re an active credit user, you have tradelines in your reports.
“A tradeline is a record of an active or closed account that appears in your credit reports.”
Tradelines for sale typically fall into two categories:
- Revolving credit tradelines: Credit cards and line of credit entries fall into this category. During scoring, revolving tradelines contribute towards the evaluation of your credit utilization, credit age, credit mix, and payment history. Since they contribute towards the most scoring factors, they are deemed the most important.
- Installment credit tradelines: The category encompasses all other loans with biweekly or monthly repayments. Installment tradelines are in short supply. For instance, it’s nearly impossible to find mortgage tradelines for sale. The concept of becoming an authorized user doesn’t apply to installment loans because the borrower receives all the funds in one lump sum.
Before we look at legit tradeline companies, let’s mention another little-known tradeline category.
Now, credit bureaus allow the inclusion of alternative data such as utility payments. Reporting on these accounts is not automatic. You do the process manually or with the help of a third-party company. The alternative accounts go by two names: self-reported or energy-utility tradelines.
The 3 Best Tradeline Companies of 2021
There’s a lot of misunderstanding about the role of tradeline companies. Let’s clear the confusion. Purchasing a tradeline entails finding someone with good or excellent credit. You pay for the privilege to be added as an authorized user on their revolving credit account.
Traditionally, you don’t pay to become an authorized user. You approach a friend or relative, someone you know personally.
When you don’t know someone who can do this, you approach a tradeline company. No one is forced to add authorized users to their accounts. Individuals with good credit voluntarily take part in selling authorized user tradelines to earn some pocket money.
Tradeline companies extract their fees from facilitating this matchmaking service. As with any industry, there are hundreds of players and a lot of unscrupulous characters. That’s why you need professional guidance to choose a safe and reliable provider. Here are some of the best tradeline companies to consider:
Tradeline Supply Company
Since 2017, Tradeline Supply Company has become the go-to place to sell or buy tradelines. They are now one of the biggest peer-to-peer marketplaces.
We like that they have a physical location in San Diego. Customers can receive phone support throughout the week. Ordering a new tradeline is also quite intuitive as they have fully automated their checkout process. It allows them to pass the cost savings to their customers. You’ll also appreciate their many guides detailing each aspect of buying credit tradelines.
- Tradeline Supply guarantees reporting to at least two credit bureaus.
- The service offers a refund policy if the accounts fail to post within the next reporting cycle.
- Customers remain as authorized users on purchased tradelines for at least two monthly reporting cycles.
- They only offer accounts with perfect credit histories with no delinquencies and 15% or lower utilization rates.
- They provide customer support from Monday to Sunday.
- The company has a well-developed library of educational materials.
- It has not been in the industry for a long time compared to similar competitors.
- Their reps don’t answer questions about how tradelines may affect scores.
Why choose Tradeline Supply Company? The biggest strength of the company is that they offer a highly guaranteed process. For instance, customers can claim refunds if their purchased tradelines don’t post, fail to report to at least two bureaus, or have high utilization rates of over 15%.Visit Tradeline Supply
The first thing you notice when you visit the Boostcredit 101 website is that it’s well laid out. You get to see their six-step process that begins with a free consultation.
It’s easy to shop for the best tradelines. Just visit their marketplace, and you can filter for accounts based on their price, lender’s name, limit, and account age. For instance, when buying seasoned tradelines, you can filter for accounts with a minimum age of two years.
Is BoostCredit101 trustworthy? Yes, because they have a clear origin and track record. Silver Bullet Consulting, LLC launched the company in 2013, making 2021 their 8th operational year. They maintain a physical office in Denver, Colorado. The company regularly appears on shortlists of the best-seasoned tradeline companies.
- BoostCredit101 offers a refund if a tradeline fails to post to at least two credit bureaus.
- Customers access tradelines with perfect histories and utilization rates of less than 10%.
- They provide special tradelines with 3-4 posting cycles.
- The company carries out stringent verification of both buyers and sellers to minimize shutdowns;
- BoostCredit101 has a comprehensive history of over eight years.
- They follow provisions of the Credit Repair Organizations Act.
- The company lacks a detailed education section.
- They have not disclosed their support times.
- Their cheapest tradelines start at $350, which is more expensive than Tradeline Supply.
- Customers may have to wait for up to 60 days rather than the next reporting cycle before raising concerns about non-posted accounts.
Why choose BoostCredit101? It’s one of the best companies for seasoned tradelines for sale. While their products may cost more, they promise customers highly verified accounts and better protections than their competitors.
CreditPro is one of the best tradeline companies in 2021 for various reasons. Founded in 2007, it has been around a lot longer than its top competitors in the tradeline credit industry. The company dubs itself as a wholesale-to-reseller tradeline provider and promises savings of up to 40 to 60% on retail accounts.
Owing to their prominent position, they provide access to a large inventory of high-quality tradelines, some with 30-year histories. Their tradelines may report for three monthly cycles. You’re not limited to 1 or 2 cycles.
Updates are quick too. Their website claims that some tradelines may post within one week. We equally like that all customers receive a free consultation. You simply call their support number to get started. CreditPro has an office in San Diego, similar to Tradeline Supply,
- CreditPro has a long track record of over 14 years.
- They have a large inventory of authorized user tradelines.
- They assure customers of quick posting.
- CreditPro provides wholesaler programs and supports resellers.
- Customers work hand-in-hand with professionals to select the most suitable accounts.
- They don’t have robust free educational resources.
- They are not clear about their customer support hours.
- Consumers cannot browse their entire inventory.
Why choose CreditPro? You may consider CreditPro for its reliability and trustworthiness. They have been around since 2007 and have worked with thousands of customers. It’s also one of the best tradeline companies with a vast inventory of accounts.
Are Tradelines Legal to Use?
Yes, they are perfectly okay to use. Parents have long used the practice to help their kids build up credit. Anyone can add their friends, strangers, colleagues, or relatives as authorized users to their revolving credit card accounts. Now, you may ask: Is this not a form of manipulation?
Well, that’s a question best left to credit bureaus. Their mission is to maintain accurate credit reports for every individual. Despite this, they allow information furnishers to report third-party payment histories on authorized user accounts. So, if credit reporting agencies don’t wish people to take advantage of this tactic to boost scores, they should forthrightly restrict it for everyone.
Again, it doesn’t take anything special to become an authorized user. Credit card companies permit people to add their family or friends. The only qualification is knowing someone willing to help. So, if you don’t know someone well-off and with better credit, you miss out on the ability to boost your scores using authorized tradelines. Doesn’t this play into the existing inequalities?
Someone who pays to be added as an authorized user doesn’t commit any greater infraction than someone who deliberately finds a family member and asks to be added as an authorized user. The intentions of both parties are the same; raising their scores using someone else’s history or pattern of repayment.
We’re not out to convince you to use paid tradelines at any cost. If you’re not entirely comfortable with this technique, it’s within your rights to opt-out. As far as working with the best tradeline companies is concerned, you will not be committing any crime. There have been no convictions of people using these services.
5 Benefits of Buying a Tradeline
Forget the hype surrounding tradelines. It’s essential to know that purchasing tradelines to boost credit scores may not work for every person. Legitimate tradeline companies disclose that it may even reduce scores. Their customer representatives deliberately don’t comment on how many points you may get by purchasing a tradeline.
It was essential to state this fact, so you’re not blinded that this will be the best technique to boost your scores. Now, there are some benefits that you may enjoy after successfully purchasing tradelines to build credit, including:
Better rates on loans during the pre-qualification process
If your scores improve after purchasing tradelines for bad credit, most loan companies will provide cheaper rates during the pre-qualification process. Now, having better scores may not mean automatic loan approval. Lenders may scrutinize your income or debt-to-income ratios before approving your loan.
More rental opportunities
Low credit scores may be a hindrance to securing rental properties. Following a significant boost to your scores after purchasing tradelines, you may have an easier time securing a place to live.
Better job outcomes
Some employers also analyze an applicant’s credit scores before approving them for a job. Good or excellent scores can mean getting your dream job. Now, if you’re going after a job that will require high levels of scrutiny into your credit history, you may reconsider using tradelines, as they may be a point of focus.
Lower insurance rates & access to discounts
Insurance companies typically reserve discounts and lower insurance premiums to consumers with good credit. However, if you are purchasing a tradeline for the sole reason of getting cheaper insurance rates, you might not save as much money as you want to.
Waivers on utility security deposits
Good credit scores also have other little-known benefits. Customers with good credit often receive waivers for security deposits on their utilities.
How Long Do Tradelines Stay on Your Credit Report?
Most companies provide tradeline accounts that last for two reporting cycles. That means that you’ll receive updates for two consecutive months. Do you only get two monthly entries? No, you also inherit all the past payment history.
The account holder will remove you as an authorized user after the obligated reporting cycles. How long does the tradeline stay on the credit report after you’re removed as an AU? The account may stay on for 3 to 12 months.
Credit bureaus have different periods for removing AU accounts. You may notice that the closed account still appears in one or two reports. The boost to your scores slowly diminishes as the account ages before the final removal.
How Much Do Tradelines Cost?
The two key determinants of how much tradelines will cost include:
- Age – It refers to how long the account has been open. Aged tradelines are usually more than 2 to 3 years old. The older the account, the more it’s going to cost.
- Credit limit – It’s the maximum amount that the account holder can take out as credit. For instance, if you have a limit of $200 on a card, you can only make purchases worth $200 before maxing out the card. Quality tradelines have high credit limits.
How much are piggyback tradeline companies charging? Tradeline Supply Company states that their tradelines range from $150 to $1,500. For instance, a credit card account with a $3,000 limit and 3-year history was going for $281 on their marketplace.
An account selling for $1,350 had a credit limit of $40,000 and 11-year history. Different marketplaces also impose unique price ranges. For instance, BoostCredit101 states that their tradelines range from $350 to $1,500.
How to Choose the Best Tradeline Company?
Consider the following factors when choosing a tradeline company:
Reputable tradeline companies tend to have many years of experience. Scammers set up shop for a few months. They disappear once their scam becomes publicized.
You can tell if you’re dealing with a legitimate company by the way they talk about their services and themselves. Sketchy providers tend to be obscure about their process. They may even make sensational claims of large score increases after you purchase their tradelines.
Not involved with CPM or primary tradelines:
Check if the company offers credit private numbers (CPM) and primary tradelines. The use of CPM is considered a form of synthetic identity fraud as it entails falsifying your social security number. Companies that offer primary tradelines may also be breaching certain laws as the practice involves being listed as the primary account holder for a credit account.
Pricing packages and discounts:
It helps if a tradeline company offers discounts and regular promotions. For instance, the top companies have discounts for customers purchasing more than one tradeline.
Industry experts advise against purchasing a tradeline where you have a bank account. So, it helps if the company has a large inventory. Companies with large stocks also provide more options so you can easily find tradelines with the best short of improving your scores.
Consider working with companies that encourage you to get their free consultations. By talking to their specialists, they can understand your goals and review your credit reports before recommending appropriate tradelines.
How to Buy Tradelines?
Start by visiting the website of a reputable tradeline provider. Take time to read details on their homepage before navigating to their inventory list. If you’re new to the process, don’t add accounts to your cart yet.
First, call their support team and ask about their consultation. A genuine company should gladly offer their time and support. If you can’t get someone on the other end of the phone, you can consider another provider. There is no shortage of potential suppliers.
We advocate speaking to an expert because there might be pitfalls of rushing into the process. What should you ask? Consider inquiring about:
- Their guarantees or refund policies;
- What information they require from you and how they safeguard it;
- Their recommendation about the best tradeline to purchase.
5 Mistakes to Avoid When Buying Tradelines for Sale
Time and time again, consumers repeat the same mistakes when purchasing authorized user tradelines for sale. We’ll focus on five key mistakes and how to stay clear of them:
Mistake 1: Substituting tradelines for credit repair and credit rebuilding
Purchasing tradelines is not a cure-all for bad credit. At best, it only provides a temporary boost. You should consider long-lasting approaches to building credit. First, try credit repair. The process entails finding mistakes in your credit report. You then dispute the entries by challenging the bureaus with the help of a credit repair company or by yourself.
Now, credit rebuilding entails applying for credit rebuilding products. You then generate a positive payment history. Banking on tradelines alone to boost your scores is not the best long-term strategy.
Mistake 2: Going it cheap
If you’re searching for cheap tradelines for sale, you are not likely to find quality accounts that will have a significant impact on your scores. It may also open you to tradelines scams. For instance, low-quality and cheap accounts may fail to post. They may not come with guarantees or refunds. This does not mean that you should purchase the most expensive accounts either.
Mistake 3: Focusing on the credit limit over the credit age
Tradeline Supply Company advocates that you should be focusing on the tradeline age rather than the credit limit. Why is this so? If you have an average credit age of five years, purchasing an account with a ten-year history means obtaining the previous payment history. The account also increases the average age of your credit accounts. The payment history and credit age contribute up to 50% of the FICO score, while the credit utilization rate only accounts for 30%.
Mistake 4: Thinking that results are guaranteed
Authorized user tradelines for sale may or may not have an impact on your credit scores. For instance, if your current credit age is five years and you purchase a tradeline account with a two-year history, it may not have any impact. Similarly, if you have significant recent negative items such as multiple collections accounts, purchasing a tradeline may not result in a big boost to your scores.
Mistake 5: Failing to deal with collections or high levels of debt
Purchasing tradelines should not be a substitute for paying down your revolving debt or settling collections accounts. They can diminish the boost you receive from a tradeline. Lenders are less likely to approve customers with unsettled collection accounts.
How do Tradelines Affect the Average Credit Limit and Utilization Ratio?
Your credit limit is the amount the card company allows you to spend on the account before reaching its maximum limit. During your FICO score calculation, the average credit utilization rate on all revolving accounts is calculated. Experts recommend having a utilization rate of 30% or below for a better chance of getting good scores.
The best tradeline packages have low credit utilization rates (10%- 15%) and higher credit limits. How do these accounts help you lower your credit utilization ratio? Let’s find out with an example:
|Account ending||Credit limit||Amount owed||Utilization rate|
Utilization rate = (Amount owed ÷ credit limit) x 100%
If we want to bring the utilization rate to 30%, we need to purchase a tradeline with a limit of $5,500 and a utilization rate of 10%.
Tradeline credit repair specialists use this computation to recommend the best accounts to purchase. If the service is not offered, you can also use a free tradeline calculator:
Is Adding Authorized Users Effective?
Yes, it’s effective, but not in all cases. This recommendation applies to customers with bad credit or good credit wanting to jump to higher tiers. So, when is it not advised?
Gaining a few points
If you have a credit score of 719 and want to improve it to 725, it may be worthwhile to pursue other ways of increasing your scores. For instance, you can pay down the balance on an existing credit card rather than purchasing a new tradeline.
If you need a long-term boost
If you want to temporarily increase your scores to apply for a new credit product, tradelines may be effective. Actually, most people seek them for this purpose. But you need to time your purchase correctly. For instance, if you’re planning to apply for an auto loan in 12 months, you should at least wait for 7-9 months before the purchase. That’s because the boost will quickly diminish after you’re removed as an AU.
So, if you need a strategy that will have a longer-lasting impact, you may consider secured installment loans, new credit cards, or credit repair.
If you’re not comfortable with the risk
If you’re added as an AU, you can inherit both positive and negative entries. The best tradeline companies limit the reporting cycle to 2 – 4 months to reduce the chance of anything going wrong. For instance, the primary account holder may incur a late payment. But with seasoned accounts, this rarely happens.
Alternatives to a Tradeline
You can consider alternatives to tradelines if you don’t have the funds to purchase a quality account. The following options may be suitable in your long term credit strategy:
Apply for new credit products
Consider obtaining a new credit account and managing it wisely to offset bad credit scores. For instance, you can apply for a credit rebuilding loan with terms of six or 12 months. Once the account is closed in good standing, it may stay in your credit reports for more than seven years.
Approach a friend, relative, or colleague
Are you looking for a solution on how to add tradelines for free? Consider approaching someone you know and ask them to add you as an authorized user. You can even become an AU on an employer’s business card.
If someone objects that it will take a lot of time, inform them that most credit card companies provide online user portals where the primary account holder can manage authorized users.
After they add you as an AU, the credit company will issue a separate credit card. Inform the primary account holder that they can retain the card if they don’t want you to make purchases with it.
Perform credit repair
Order copies of your credit reports and counter-check for any errors. You may find serious errors that are heavily impacting your scores. Now, not everyone will have material errors. That’s why credit repair companies offer free consultations. They can take a look at your reports and recommend their services if necessary.
Add information about your bill or rental payments
Through programs such as Experian Boost, you can add information about utility payments to your credit reports. Some paid services, such as LevelCredit, can facilitate the self-reporting of rental payments.
All things said, in the right situation, becoming an AU may significantly boost someone’s scores. For instance, people with a limited credit history tend to experience a big boost. However, it is important to have the right expectations as they are not a cure-all for bad credit. Avoid tradeline scams promising unbelievable results.
Customers should also partner with legitimate companies to secure quality accounts. We have outlined three of the best tradeline companies. These services don’t make sensational claims. They take time to consult with individual customers, and their reputation precedes them.
A seasoned or aged tradeline typically has a payment history going back two years or more. Quality seasoned accounts should not have any derogatory marks, such as late payments. They should also have low CURs.
It’s simply an alert following any changes to an existing credit account. For instance, the alert may be generated following an account status change (open to closed) or after you are removed as an AU.
Buying primary tradelines may not be worth the effort and cost. That’s because you can become a primary account holder for free. Even if you have bad credit, you can apply for a secured credit card or credit rebuilding loan. Becoming listed as the primary account holder on an existing tradeline may constitute fraud. Legitimate companies don’t deal with primary tradelines.