Tradelines are accounts in your credit report. The way it works is you would be listed as an authorized user on a preexisting account, by doing that your account shows on your credit report. All the information relative to that account, available credit, utilization, on-time payments, is added to your report, you gain the benefit of all that payment history and available credit, that’s why it’s also called Piggybacking credit.
A tradeline includes information about the account which typically includes:
- Lender’s name and address
- Type of account
- Monthly payment
- Date the account was opened
- Date of last activity
- Current balance
- Original loan amount or credit limit
- Payment history
Authorized user tradelines can boost your score rapidly as much as 300 points. We have over 300 tradelines that can help you get that boost that you need. Once you get approved for what you are trying to purchase and make on-time payments, you then will have your own tradeline helping you build a solid credit profile.