Seasoned Tradelines

Tradelines are an effective way to boost your credit score efficiently. The efficiencies come from a quicker boost to your score compared to more traditional methods, along with the ability to benefit from a well-established line of credit.

Seasoned tradelines are lines of credit that have been around for long periods of time – ranging from at least two years old several decades. Typically, with seasoned tradelines come higher lines of credit, which can benefit the tradeline customer by having a larger line of credit reported on their credit report, thus boosting their credit score.

Seasoned Tradelines for Customers

If you are a customer looking for a seasoned tradeline, there are a couple things to consider. Typically, the more seasoned the tradeline is, the higher the premium. A higher premium is indicative of the effect it will likely have on your credit score, along with the reliability of that particular tradeline. A seasoned tradeline has a lower risk of high credit utilization or falling out of good standing.

The other item to consider is a seasoned tradeline will likely decrease your credit utilization percentage by a sizeable amount. Having a high credit utilization rate negatively impacts your credit score because it signals to lenders you may have a spending or cashflow problem, thus being a higher risk. By purchasing a seasoned tradeline with a higher credit limit, you will positively impact your credit utilization percentage.

Seasoned Tradelines for Credit Holders

On the other side of the coin, if you are a credit holder with a large line of credit that’s well established, you can opt to use that as a tradeline, selling authorized user spots to individuals looking to boost their credit score. This is an effective way to passively use your healthy credit to not only earn income but help others increase their overall credit score.

Even if you don’t have a seasoned tradeline, as long as you are in good standing you can use your line of credit as a tradeline.

Who It Benefits?

A seasoned tradeline will benefit everyone, but it is likely to be more effective for those that have a low age and payment history.

Seasoned tradelines are an extremely effective and efficient way to boost your credit score. While it has a higher premium, you can rest assured that the underlying credit source is well established and has a history of on-time payments.