How to Build Credit – The Easier and Quickest Way

It is possible to build credit fast even if it may not seem so.

A low credit score is a cause of concern for sure. But if need be, you can take certain measures to raise your credit score fast.

These steps can be timely credit card and other loan installment payments, maintaining a low credit utilization ratio (ideally 70:30 or even less), and keeping a track of your credit report to avoid erroneous transactions affecting your score from appearing on it. But the quickest way to build credit is to use tradelines from reliable sources.

Using Tradelines to Build Credit Fast

Tradelines are credit accounts that will appear on credit reports. These accounts can be your credit cards, loans, mortgages, etc. By opening a new credit account, you can significantly boost your credit score. But if the credit score is already low, you are not likely to get qualified for new tradelines. In such cases, it is best to become an authorized user on an existing credit card with excellent credit history and utilize it to raise your credit score.

The Process –

What may not work?

You can become an authorized user on a family member’s credit card with good to excellent history. But the problem with such use of tradelines is that your credit score will be adversely affected if the credit history of the tradeline is not excellent any more. Due to delayed payments or high credit utilization, the credit history of a tradeline gets negatively impacted. So, it is not really ideal to use tradelines this way.

What is likely to work?

You can purchase tradelines from credit repair or tradeline companies as the quickest way to build credit. You can buy one or more tradelines as per your requirements.

When you become an authorized user on a credit card with excellent credit history, you can reap benefits of it too. The good credit history of the tradeline will also show up in your credit report; boosting your credit score. You won’t need to worry about the credit history of the credit card going bad due to negligent use. Tradeline companies ensure that the credit cards available with them will always have an impeccable financial history.

Buying the Tradelines

In order to use tradelines as the quickest way to build credit, it is imperative to purchase them from reliable sources. For this purpose, choose a genuine credit repair company in your area with a good reputation for authentic business practices.

You can search online for one or ask for referrals from people you trust. Once you find out about one or two such companies then check their websites to know more about them.

Always consider only those tradeline companies that list full information about their products on their websites. Otherwise, you may end up buying the wrong tradeline or pay more for it. The company must also offer different types of tradelines suitable for varied requirements. Those who are just beginning to build their credit may want a different kind of tradeline than someone with a long credit history. You should also be able to purchase a tradeline as per your budget.

Also, check if the websites contain information about the company’s physical office address along with phone numbers. Check for other details such as money back guarantees. Only a company with a surety of their tradelines working to boost your credit score will offer such deals. Some companies also offer free consultations to prospective customers to help them select the right tradelines as per their specific requirements.

The process of buying the tradelines and making payments must also be easy. You should be able to purchase the tradelines online easily.

When you buy a tradeline, the company will add you as an authorized user on the same credit card. The credit card’s history will soon begin to show up on your credit reports. Reputed tradeline companies often offer the guarantee of a 60-day period or less for the credit history of the card to appear on their customers’ credit history since the day of the purchase.

With the right tradeline and the right company to purchase it; you can build your credit fast.