Are seasoned tradeline legal? So what kind of tradelines do we sell?

By
Services for Real Estate Pros with Credit Score Boost - USA Credit Solutions

Im sure you’ve heard old cliché: if it sounds too good to be true, it usually is. This is no exception. Of course there is mis-information out there also, so let's get the facts straight.   (blog reposted from Nov 2014)

First of all any advice from the credit bureaus is false, unless it is legal rights which are mandated by the

federal government. For example, they advised you not to use credit repair, but of course they don’t want you to do this because then they make no money once the illegally posted items are removed. Credit bureaus do not like tradelines either. They are constantly trying to remove posted tradeline information. This is the problem with many tradelines, unless they are bank backed like ours. 

 

The concept of a seasoned tradeline is that you pay a stranger hundreds or thousands of dollars to add 

you as an authorized user or joint account holder on their credit card. The goal is to get the score high 

enough to qualify for a new loan, or better interest rates.

 

There are several problems with this concept. One is if the joint holder adds more debt doesn’t pay on 

time it will negatively effect your credit. The scheme works, but the goverment says it is illegal

although they do not regulate the practice. The other problem is that once an underwriter sees

this or someone who has already pulled your credit, they are going to ask, how did this show up 

so fast, yet be aged? Also, depending on the type of loan, the seasoned tradeline may not even 

be considered and may have to provide written documentation that she/he has been the sole

payer of the account for the past 12 months via checks, or payment receipts. Lastly this type 

of activity could be viewed as fraud by the bureaus, the lender or the Federal Government. 

 

What do we offer? 

 

We do not offer any kind of seasoned tradeline for these reasons, as we have been in the 

credit business for many years and our experts advise against this. 

 

We do offer tradelines from an FDIC Bank. A tradeline is a term used in the finanical industry, 

for example: Our Unsecured Revolving Line of Credit thru our FDIC Bank (not a finance company) 

reports all new active accounts every 3 business days to all 3 major credit bureaus. This 

Revolving line of Credit is frequently referred to a "tradeline." 

 

This type of tradeline will become seasoned as you keep the account in good standing.  Because the bank gives you some amount of credit, by law they must give you a way to access it.  Our tradeline cards give you access to online shopping clubs, that's how the banks stay legal, and are able to report this on the bureaus.

 

We offer our Unsecured Revolving Line of Credit thru our FDIC Bank (not a finance company) 

reports all new active accounts every 3 business days to all 3 major credit bureaus.

 

+75% of our customers are in the process of trying to qualify for a mortgage or loan, and all of them that follow our guidelines are being qualified because of the credit and the credit score increase this line of credit provides.

 

We also offer other types of tradelines and credit cards / loans.

 

The Problem: Without enough credit (to offset debt and balance the debt - credit ratio) 

the credit score suffers significantly. (debt-credit ratio effects 30-40% of the score). Many people start to fix their credit by disputing negatives first by themselves or through a professional repair company. When accounts are in dispute status it is difficult to add new credit, because of the risk. But also the scores drop after disputes without sufficient credit, sometimes people lose the score totally. 

 

The solution: Add this tradeline or some of our other credit tradelines first to boost the 

score before disputes are started and they will see significant score boosts. If the account is already in a repair service then they must wait until the service is complete and un-mark any accounts in dispute. If they don't qualify for this tradeline, we have other 

services :

http://www.boostyourcreditscore.info/shop

 

The Platinum Tradeline Card:

 · No upfront deposit required

 · Minimum Equifax Score 500 (FICO)

 · Reports to all 3 Credit Bureaus

 · Limit Ranges between $1,100 and $6,500 depending on your qualifications

 This is an unsecured card for people with challenged credit scores, financed by an

 FDIC bank, and with your payment history being reported monthly to the BIG 3 bureaus.

 

· You must have a positive open Revolving account for great credit scores

 · Limit 1 card per person 

 · Cards are only individual, not joint accounts 

 

Processing Fee: $125-only charged if approved 

 

Up-front Deposit: None – this is an unsecured card and your credit limit is determined  

by your credit score and debt-to-income ratio

 

Annual Fee: $100 per year- billed @ $25/month for first 4 months

 

Credit: Limit Ranges between $1,100 and $6,500 depending on your qualifications, however after sometime you can ask to increase your credit up to $10,000.

 

Reporting: Reports to all 3 bureaus (Equifax, Experian, TransUnion) within 2 weeks

 

Interest Rate: 21% APR on purchases only (not fees)

 

 

Qualifications

· Credit pull – Minimum Equifax score of 500 FICO

· Debt-to-income ratio

· Must have a valid Social Security Number and pass FRAUD CONTROLS (#1 reason for decline). 

· Fraud Alerts/Freeze acceptable as long as contact number has been added. Call Equifax 

Live Customer Support at 800-846-5279 to add contact number and please allow 48 

hours for them to make the changes before applying. 

 

Process

 

· Follow our online stores instructions pay the non-refundable access fee on our website

· Follow the instructions, you will be directed to the banks application. You will be notified immediately whether you’re approved.  

· If declined you will be offered a Secured Credit Card instead. 

· Make a small purchase at the online shop to activate your card & credit reporting. (One purchase 

financed of any product of any amount (no min). Products are as low as $5.) 

· Account will report to your credit within approx. 1 week of purchase 

· Will need to pay $25/mo for 4 months to pay off the annual fee 

· You are not required to use the card after that for it to report. It would be a good idea to 

make some small purchases during the year to keep it active, however. 

 

 

 

We are looking forward to helping your credit, so click here to get

 

started: http://www.boostyourcreditscore.info/shop

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
Washington
Groups:
The FHA Mortgage Group
credit repair: Looking for a good credit repair company?
Credit Repair Organizations
Credit Repair Advice
Reblog Tools and Suitable Post
Tags:
credit score
credit
score
tradeline
boost
seasoned
trade line
boost credit score
seasoned tradeline

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
55,194

Edward Gomez

Credit Score Boost USA
I am interested in improving my financial portfolio
*
*
*
*
Spam prevention