Boost Your Credit Score with Tradelines
It is not all too uncommon for people to get a bad credit score. This does not imply, however, that there is no way to do something more about having a bad credit score. Contrary to popular belief, there are actually a lot of ways to repair your credit. Take, for instance, tradelines for credit repair. To discover more about boosting your credit score with tradelines, read on.
How does tradelines work and why are they able to help repair your credit? Before knowing more about tradelines, you have to know that there are actually a lot of companies that offer these services such as Superior Tradelines. How these companies work is that they do credit piggybacking so that your credit score will go up. For a lot of banks these days, the FICO scoring model is what they use. In a nutshell, FICO analyzes your credit history based on your file stored by your credit reporting agencies with the use of a mathematical equation. Starting from the scores of 300 to 850, your credit history is defined in three-digits.
Usually, banks keep your loans approved and give you better interest rates when your scores are near 850. Your credit card balance and limit matters in getting 30% of your scored based on FICO. When the difference between your combined limits and credit card balances is bigger, you will get a higher credit score. Once season trade lines will be used on your credit report, your credit score will be calculated once again. You will be quick to see a boost in your credit score. If you want to get an idea of credit piggybacking, it is having at least 40 years of perfect payment history with $100,000 present in your credit.
If you seek the help of Superior Tradelines, your name will be included as an authorized user with perfect payment history and having a low balance and high limit credit cards. If you become an authorized user, you can use the said account but you cannot make changes to it. Originally, the AU position was created to give cardholders the ability to add other people to their account for them to have access to their credit line. This is beneficial for the authorized user such as yourself because the account history of the credit card that you have used will appear on your credit report. You can look at this in a way where the history of the credit card has been there ever since the first opening of the account. This allows a great boost to your credit score if it is currently bad. Even if you have no power over the credit line, you can have this credit card copied into your own credit report. With just less than two months, your credit score goes back on track. Click here for more information about tradelines.