Seasoned Tradelines are very beneficial if you are put on a good one. However, a lot of people have no knowledge as to when they will be able to see a certain tradeline on their credit report. Normally, credit tradelines normally post on your credit report about 30 days out or on their known posting date. The process normally works like this: The bank collects all the information associated with the tradelines (the age, limit, balance, payment history, authorized users, etc.) and sends it to credit bureaus. This, usually, happens every month. However, some banks report weekly (especially store cards). It is very exciting to be able to boost your credit so that you can be in better standing to more and better things with your credit.
Even though boosting your credit with a tradeline can be super beneficial, it is still good to know how to maintain good credit score for yourself. Credit scores show how responsible you are and how you are living your financial day to day life. Keeping a good credit score can land you a good job, low monthly car payment, good house, etc.
Refrain from making late payments:
First and foremost this is a big one. When you make a late payment it can stay on your credit report for up to seven years. You don’t want companies to believe that you won’t be able to pay them back their money on the day that was agreed upon. Why would someone want to give you money if you can’t pay them on the day that you agree upon? Just like you need your money on certain days, so does everyone else so you have to respect that. You can setup reminders on your phone by using Google Keep. Set up reminders about 10 days before payments are due and one day before a payment is due. Set up however reminders you need to make sure you can make your payments on time.
Keep your balance as low as possible:
Most of the time when high balances are paid off your credit score levels out and goes up. However, when you have high balances your credit score is lowered. Having high balances alerts companies that you are living in debt or haven’t paid off your debt. Would you give someone money who hasn’t paid their previous debtors?
Seasoned tradelines are great for boosting credit. There is no better way to boost your credit score than to purchase a spot on a good tradeline. Basically, tradelines can essentially put years of good credit payments, a big credit limit, etc. all on your credit report for the credit bureaus to see. This will help your credit substantially and boost your credit score. Buying a spot on a good tradeline is like buying a higher credit score than you currently have.
Tradelines, also known as Authorized User Tradelines are credit accounts that post to your credit report. Every credit account whether in good or bad standing are normally called tradelines or a trade reference. As Experian unequivocally stated a tradeline is an entry by a credit grantor to a consumers credit history maintained by a credit reporting agency. Anyone who has a line of credit like a credit card or something of that matter has a tradeline.