If you have a thin credit profile or a low credit score, you may be looking for ways to increase your score, but it can feel impossible.
It takes credit to get credit, but if you have bad or no credit, it’s hard to get anyone to give you new credit. If you aren’t comfortable asking your friends or family if you can be an authorized user on their credit cards or you don’t have anyone you can ask, you might consider buying an authorized user credit line.
Tradeline Supply Company offers authorized user tradelines for sale to help people like you build better credit.
Here’s what we think of them.
Who is Tradeline Supply Company?
Tradeline Supply Company is run by David Melnicoe, who originally sold his own tradelines on Craigslist to help others build credit. Today, David runs a successful business that sells tradelines from thousands of people, helping more people improve their credit with this simple tactic.
How Does it Work?
Buying a tradeline is like asking a friend if you can be an authorized user on their credit card account, except with a stranger.
Instead of calling in a favor, you’ll pay for the authorized user status, and it will be good for a certain period. Tradeline Supply Company claims they offer the lowest prices for authorized user tradelines and they offer one of the largest selection of credit cards and credit lines to choose from.
Do the Credit Bureaus Allow It?
What most people want to know is whether what Tradeline Supply Company does is legal.
The short answer is yes, but the longer answer is that the credit bureaus frown upon it, as do the credit card companies. The credit bureaus advise consumers not to do it and if credit card companies find out about it, they usually close the owner’s credit card account.
Who Does Tradeline Supply Company Help?
You might wonder who would purchase an authorized user account from Tradeline Supply Company.
There are two types of people it can help.
Consumers with a Thin Credit Profile
If you have a thin credit profile it means you don’t have a lot of credit. Some people don’t have any. When you buy an authorized user account from Tradeline, you bulk up your credit profile. Even one tradeline can help your credit score jump up because there is a history of credit use for the credit bureaus to score.
Consumers with Bad Credit
If you have a lot of credit, but it’s bad, buying an authorized user account may not help as much as it helps someone with a thin credit profile.
Here’s why.
The authorized user account may decrease your credit utilization rate or improve your payment history if the user has a good payment history, but it doesn’t erase what you already did.
If you have late payments, a bankruptcy, or overextended credit reporting on your credit report, adding new credit to it won’t help.
What’s the Cost?
The cost of a tradeline differs by credit card and credit card owner. For example, you may pay $150 for a credit card with a small limit and minimal use, but $300 for a larger credit line and more activity on the card.
Tradeline claims they are one of the cheapest authorized user companies in the industry, but as competition ramps up, they may change their tune.
Is it Worth it?
Is it worth it to buy an authorized user tradeline from Tradeline?
It depends.
If you’re struggling and can’t get new credit, it can be worth it, but there are alternatives, such as getting a secured credit card or a credit builder’s loan.
Each method costs money, so it comes down to what you’re most comfortable with and how you will use your credit. If you don’t trust yourself to have a credit card or you don’t think you’ll make the payments on a credit builder’s loan, an authorized user account can be a good alternative.
Final Thoughts
Tradeline Supply offers a great service that helps people improve their credit score. It won’t happen overnight and it’s not the only solution to higher credit, but it can be a good way to boost your score along with other techniques.
Before you buy an authorized user account think about what you want to achieve. Do you need the lower credit utilization rate? Then you want a card with a higher credit limit. But if you want the ‘older’ credit history, you’ll want a more established credit line to increase your credit score.