Authorized user tradeline and primary tradeline, what are they?
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First of all, you should know that a tradeline is any account that appears on a person’s credit report. If you are one of those who are interested in building credit and buying tradeline, this post is for you, here you will be learning what is an authorized user tradeline and a primary tradeline.
But, first you should know that the tradeline is the one that creates a person’s credit report. So, it is advisable that if you are one of those who are interested in having a good credit history, buying tradelines are the perfect idea to achieve that credit sounding.
If you currently have bad credit, it’s time to build something completely different, good credit. Open new credit accounts of various types and make all your payments on time.
It may take longer to rebuild your credit than it originally took to build your credit because those negative marks will remain a part of your credit report for quite some time. But purchasing commercial lines will begin to make a difference in your credit record by omitting any negative information that appears.
By purchasing authorized user tradelines, when you are added to the credit card as an authorized user, it does not show up on your credit report when it was added. Rather, the entire account history is reflected on your credit report, with some exceptions depending on the bank.
For example, if an authorized user is added to a credit card that is 20 years old, it will simply show up as a 20 year old credit card that this person has on their credit report with an authorized user status.
In short, you only want to add merchant lines that are higher in age and credit limit than what you currently have on your credit report.
If you currently have high utilization, higher limit tradelines can help you with your overall utilization rates.
But you should keep in mind the average age of the accounts currently. You only want to add tradelines that can increase your average age of accounts significantly.
Now yes, you are ready to read about Authorized User Tradelines vs.
Primary Tradelines:
In an authorized user position, the account will show up on someone’s credit report, but authorized users have no financial responsibility for that account. Therefore, many people think that primary accounts are better than authorized user tradelines.
A master tradeline is an account that an individual has in their name where the creditor has extended some type of credit to that person specifically. They are financially responsible for that account and this is reflected on that person’s credit report.
The main goal of someone trying to build their credit should be to open their own primary accounts and keep those accounts current forever. In this way, primary accounts are best.
For one thing, you have to ask yourself if it passes the common sense test. How can you buy an account that, by definition, is supposed to belong to you as the primary account holder who is financially responsible for that account? Do you want to buy someone else’s debt?
The smartest and most advisable thing to do when buying tradeline is to check the age of the authorized user trading line, that coupled with a higher limit would be the most beneficial option.
