Whether you want to get your credit history back on its feet or are still in the process of building a solid credit report, a tradeline can definitely make this more achievable.
A robust credit report is your ticket to getting the best loan deals that would’ve otherwise been impossible to acquire, especially if your credit history is nothing to brag about.
The question is always, “how do I pick a suitable tradeline that I can trust?” To make things easier for you, we’ve reviewed the best tradeline companies across the 50 states!
The 3 Best Tradeline Companies in 2021
Tradeline Supply is considered the pioneer of the tradeline market. It was founded in 2017, and it’s usually regarded as the first company to popularize buying and selling tradelines (not the first to enter the industry, though).
The whole process is as hassle-free as it can be. The application process is entirely online and automated. You don’t need to talk to hundreds of employees to get things done, which helps the company keep its prices low.
All you have to do is visit the website, choose the “Buy Tradelines” tab, select the most suitable tradeline(s) for your needs and budget, and check out to make the payment.
Alternatively, if you want to sell a tradeline, click on the “Sell Tradelines” tab, then you’ll be presented with a contact form. Enter your name, email, and telephone number, and a customer service representative will get in touch with you as quickly as possible to give you a complete overview of how things work and how much you can earn from your seasoned credit cards.
Based on customer reviews, the company is trustworthy, and the overall experience of its customers is generally positive.
CreditPro is an established tradeline company based in Newark, New Jersey. So, what makes this company stand out from the crowd? Well, for starters, it places you as an authorized user of the tradeline for an extended 60-90 day period, which is at least double the time that most other companies offer.
Additionally, its pricing is 40%-60% less than retail, making it the perfect choice for those on a limited budget. CreditPro also has a massive inventory of 2000+ cards between 5 and 30 years old and has a maximum limit of $80,000.
The company has been around since 2007, making it the oldest tradeline company in the United States. Whether you want to re-establish your credit history or even start building it, CreditPro has precisely what you need to get things going.
Our only problem is that the buying process is a bit time-consuming since it’s done on the phone. We’d have preferred an automated online checkout process to make things faster, but that’s probably for security reasons, anyway.
However, you can check the current list of available tradelines with all the information you need right on the website, including price, age, bank, credit limit, statement date, and due date. Most credit lines have an excellent payment history, and no more than 10% of them are used.
CreditPro currently holds a rating of C+ according to the Better Business Bureau.
BoostCredit101 is a well-established tradeline company based in Denver, Colorado. Here’s how the company’s application process goes:
- Book a consultation to know your options
- Reserve the tradelines that seem to be the most suitable for your needs
- Sign the contract
- Get added as a cardholder
- The tradelines get posted on your credit report
- Your credit score gets a boost
Sounds easy, right? Well, that’s because it is. Not to mention, the company has lots of positive ratings from current and past customers. Many customers especially praised the company’s customer support team.
BoostCredit101 is rated B on Angie’s List, which is just another reason to trust this company.
How to Choose the Best Tradeline Company
Not all tradeline companies can be trusted. With your money on the line, you need to be extra careful with whom you’re dealing with, whether you’re buying or selling tradelines. Here’s how you can choose the most suitable tradeline company for your needs.
A tradeline company’s website speaks volumes about it. Is the website user-friendly? Can you find what you’re looking for quickly? If you visit a tradeline company’s website and your first impression is that it’s cluttered and disorganized, then you’re probably dealing with the wrong company.
Oh, and let’s not forget about the application process itself. If your application seems to be taking forever and customer support isn’t very responsive, that’s definitely a red flag.
The optimal utilization rate for a tradeline shouldn’t be more than 15%. Some companies go as high as 30 or even 40%, which isn’t preferred if you want the tradeline to have a strong impact on your credit report.
The number of tradelines that a tradeline company offers is usually a good indicator of its trustworthiness. It also gives you more options to choose from based on your needs and budget.
You should also check the age and credit limit of the tradelines offered. The older the tradelines and the higher their credit limits, the better.
Not all tradeline companies keep authorized users on their tradelines for the same amount of time. Some tradeline companies only keep authorized users for a maximum of 30 days, which is just one billing cycle, while other companies offer a more generous 60 or even 90-day period.
Ideally, you’d want to extend your time as an authorized user for as long as possible, but it all depends on how long you need the tradeline to appear in your credit report.
However, it’s always preferable to go for the safer route and just pick a company that offers a long authorization period because if you had to extend it, you’d have to pay double the price.
It would be best if you were skeptical about companies that offer tradelines along with a few other dozen services. You’d be better off going for a company specializing in tradelines to get the best possible and most trusted service.
Number of Banks
If a tradeline company works with many banks, this can be alarming because it usually means that its posting success rate isn’t that good. It could also imply that the company makes use of address merging, a technique that some unreliable tradeline companies use to make the tradelines post more frequently.
In other words, the company is practicing address fraud, which could put you and the company into legal issues.
Usually, when a company seems to be strict about verifying your identity seriously, this is a good sign because buying and selling tradelines must be protected and organized.
A tradeline company must be honest about its offerings. If you visit a tradeline company’s website and all you get is a contact form, that’d be a bit dubious. A trustful company is fully transparent about their tradelines and their price points, so you should see them listed on the website without contacting customer support.
Credit Privacy Numbers
Credit Privacy Numbers or CPNs are identifying numbers similar to the numbers used in Social Security. Some tradeline companies try to sell you CPNs with an unbelievable credit history so you can use them instead of your Social Security Number when applying for a loan.
However, CPNs are actually illegal to use, with reference to the federal government legislation. Make sure to steer away from untrusted companies that scam you with these CPNs.
Trusted tradeline companies usually offer a money-back guarantee for customers whose tradelines don’t post. There’s no point in buying tradelines that don’t post. You’d be better off using collateral for borrowing instead of buying useless tradelines.
Before deciding to work with a particular tradeline company, make sure to take the time to check what other customers have to say about it.
And don’t only check the testimonials on the company’s website, as they can be very misleading. Do your research on social media platforms and forums to get a feel of the company’s overall customer satisfaction rate.
However, since the tradeline market isn’t that flooded with customers, you’ll likely need to dig deep if you want to get an accurate representation of what this company has to offer.
Authoritative tradeline companies invest in educating their potential customers about how tradelines work, whether buying a tradeline is the right choice for them, and the most frequently asked questions. They want to make sure that the customer is fully aware of what they’re doing before spending their money.
If a company is only trying to sell you tradelines without providing you with any information, it’d be better not to risk it and check other companies instead.
Also, if the company is trying to persuade you into buying tradelines by showing you how your life will be that much better after buying them, then we’re dealing with another red flag here.
A tradeline isn’t a magical ticket to a luxury life. Just because you temporarily got your name on a tradeline doesn’t mean that you’re guaranteed to achieve your dreams.
Frequently Asked Questions
What Is a Tradeline?
A tradeline is a representation of each credit account on your credit report. Credit reporting agencies use tradelines to evaluate the creditworthiness of an individual.
So, why should you be interested in acquiring a tradeline in the first place? The answer is pretty straightforward. By “buying” another person’s tradeline, you’re essentially giving yourself the right to get its benefits.
For example, if you have a bad credit history, your chances of getting approved for a personal loan are pretty slim. However, by putting your name on another person’s tradeline with a good credit score, your credit score will improve.
On a side note, you need to keep in mind that you can only be the authorized user of a tradeline for a limited time. Once your name is removed from a tradeline, it’ll no longer be visible on your credit report.
So, if you’ve bought a tradeline to get accepted for a particular personal loan, make sure that you start with the application process as soon as possible.
How Can I Buy a Tradeline?
Buying a tradeline is actually pretty easy. You can buy a tradeline in just a few minutes right from the comfort of your home, provided that you have a credit/debit card or any other online payment method. To buy a tradeline, follow these steps:
- Visit the website of a tradeline company
- Compare your options
- Add the most promising tradelines to your shopping cart
- When you receive the contract, make sure to take the time to read it thoroughly. If there are unclear terms, get in touch with customer support for further clarification
- Proceed with the checkout process and make the payment. Also, ensure that the payment gateway is secured
- Check to see if the tradeline was added to your credit report within a month of buying it. You must do this yourself; don’t count on the company to provide you with this information
How Much Will a Tradeline Boost My Credit?
The extent to which a tradeline would boost your credit primarily depends on how good the tradeline owner’s credit score is. Obviously, the higher the credit score of the other party, the more your credit will improve.
How Many Tradelines Should I have?
As a general rule of thumb, your credit should contain at least 2-3 tradelines for a lender to accurately evaluate your creditworthiness. However, there are so many variables to consider here, like the purpose and type of the loan and its amount and term.
Is Buying Tradelines Legal?
Buying a tradeline isn’t illegal. However, buying tradelines is usually viewed as a dishonest activity. The whole reason behind a lender checking your credit history is to assess your ability to pay back the loan to avoid drowning you in debt, which could take you to court, and eventually, to jail.
In other words, buying a tradeline could do more harm than good, but it’s 100% legal. Understandably, borrowing a loan is usually a life-or-death situation, especially if you need the money urgently for medical emergencies or other critical problems.
What Happens After a Tradeline Is Removed?
Once a tradeline is removed from your credit report, your credit score will get back to the way it was before you bought the tradeline.
Alright, so these are the best tradeline companies that you can deal with in the United States. Now, the ball is in your court: pick one depending on your needs and preferences!
We understand that buying or selling tradelines is kind of a “blackhat” technique to improve your credit score. There are other ways to uplift your credit score, like opting for a bad credit personal loan.
However, any option other than buying a tradeline will take years before it impacts your credit score. Not to mention, such options can be risky and may actually lower your credit score even further if things go wrong.
Always take the time to assess any actions related to finances to prevent yourself from making unwise decisions that could put you in a bad situation.