What is a tradeline package?
Most people today, are in need of help to improve their credit score, but it is also true that when it comes to doing so, they do not have the necessary information to carry out such procedure and that is why, here you are going to read the quality information you need.
First of all, did you know that there is a mistake that people often make when buying tradeline? They have no idea how they work, so they go in blind and many times they don’t know what is happening with their credit.
Buying tradelines in the hope that it will unfreeze their accounts.
Trade lines work by adding positive information to your account. If you have fraud alerts or credit freezes on your account, buying a trade line will not work, as no new information can be posted to your credit report.
Understand the age factor of Tradelines.
The effectiveness of a tradeline is always going to be relative to the age of your own account and what is on your credit file. For example, if you have a 10-year-old account, an 8-year-old trade line would not have much impact on it. However, if the account is only 1-2 years old, an 8 year old trade line would do wonders in increasing your credit score.
Not having an idea of how credit scoring works.
Before buying tradelines, it is vital to know how a credit score affects your overall lifestyle. Because even if you succeed in getting a good credit score after buying tradelines; you’ll have to follow a particular set of rules to maintain it.
Wanting the cheap stuff.
Some people go for 4-5 cheap tradelines instead of buying 2-3 seasoned tradelines. It ends up costing more money, and it is better to buy conditional or licensed commercial lines rather than many cheap tradelines.
Also, a cheap tradeline will not have much positive effect on your credit report, as they do not age well. This goes against the goal of improving your credit score exponentially.
And, finally you will understand what Tradeline Packages are:
Tradeline packages are bundles of two or more tradelines sold together as a package deal. Some companies put together tradeline packages for you, while other companies may allow you to customize your package.
Tradeline companies tend to market these packages as the ultimate solution to building credit. After all, why buy a tradeline or choose a few tradelines for yourself when you can buy a “package” that is supposed to be extra powerful and designed specifically for you?