What are tradelines?

What are tradelines … and how are they related to credit repair?

What are tradelines?  By way of paraphrasing, Experian defines a tradelines as “Entry by a credit grantor to a customer’s credit history continued by a credit reporting agency. A trade line defines the consumer’s account status and activity. Tradeline info comprises names of businesses where the applicant has financial records, dates accounts were opened, credit limits, types of accounts, balances owed and payment histories.”  Equifax concisely defines trade lines as “A credit industry term for an account recorded on a credit report.”

Learn more about what are tradelines below.

What are tradelines in terms of raising credit scores?

If you found this website by searching “what are tradelines”, you are not likily looking for the textbook definition of tradeline.

Adding a tradeline, sometimes referred to as authorized user tradelines for seasoned tradelines, is a process through which individuals purchases an aged credit lines in order to boost their credit score by piggybacking off of the account in good standing. This is possible because of the creditors generally furnish all information to the credit bureaus of an individual listed as an authorized user on any given tradeline. In addition, FICO® digests this newly added credit and recalculates your score.

What do tradelines look like?

As stated above, tradelines are simply account appearing on your credit report.  Below is an example of tradelines listed on a consumer’s credit profile.

There are different types of tradelines, such as revolving, installment, auto, mortgage, etc.   Under the FICO® credit score, the largest portion of the score is made up of revolving lines, which is about 40% of your score.  All of our lines are revolving so that you can make the largest positive impact on your credit score.

 

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