In A Nutshell
If you need to improve your credit score quickly to qualify for a loan or get a good interest rate, buying a tradeline may help. Superior Tradelines is a reputable company with a history of helping people temporarily boost their scores.
What Is Superior Tradelines?
Superior Tradelines is a company that sells tradelines, which is just another way of saying credit account. Companies that sell tradelines don’t really “sell” them at all — instead, they rent tradelines to people who get added to an existing tradeline as an authorized user.
Buying access to a tradeline can be an effective way to give your credit score a temporary boost. If you have bad credit or a lack of history, you can piggyback on another person’s good credit by getting added to their tradeline.
While you can certainly improve your credit on your own, sometimes you need better credit right now. For example, if you’re buying a new car or getting ready to close on a house, your credit score will determine what kind of interest rate and loan terms you receive.
People who need this kind of short-term boost will sometimes turn to a company like Superior Tradelines, which offers tradelines from people with good credit. These tradelines are typically called “seasoned” because the account owners have maintained the tradelines in good standing for a long time.
Generally speaking, the more seasoned a tradeline, the more expensive it is to rent. If you’re in the market for a tradeline, an experienced company like Superior Tradelines may be able to help you give your credit score the boost you need to qualify for a loan or score a better interest rate.
Is Superior Tradelines Safe to Use?
Judging from its years in business and good reputation online, Superior Tradelines is safe to use. While the company is not accredited by the Better Business Bureau (BBB), it has an A- score from the BBB, which is a sign it adheres to good business practices.
Superior Tradelines also gets overall excellent reviews from current and past customers. While the company doesn’t have the same volume of reviews as some of its competitors, the reviews online are mostly positive.
On Yelp, for example, Superior Tradelines has an average 4-star review out of 13 reviews, which users praising the company for its honesty, transparency, and customer service.
How to Choose a Tradeline
If you’re interested in using a tradeline to help you improve your credit score, it’s important to do your homework. This means looking out for scams and knowing what to look for when choosing a tradeline company.
- Customer Service – Does the tradeline company have knowledgeable staff? Reputable tradeline companies will help you navigate the buying process, which can be a bit daunting if you’re new to buying tradelines. Look for a company with a dedicated customer service team that’s accessible and willing to answer your questions and address any concerns you may have about buying a tradeline. Any tradeline company you choose should list its contact information, including its phone number and email address, prominently on its website.
- Industry Experience – Unfortunately, there are plenty of scammers in the credit repair business. This is because people with poor credit are often in a vulnerable place, and they can fall victim to unscrupulous companies looking to profit from people’s desire to improve their financial security. Before you sign on with a tradeline company, check out its online reviews. Look at third-party sites like the BBB and other independent review sites to see what others have to say about their experiences with the company.
- Physical Address – A tradeline company that conceals its contact information or fails to list a physical location is a red flag. Legitimate businesses don’t hide where they are or how they operate.
Ways Tradelines Can Improve Your Credit History
Used responsibly, tradelines may be able to help you improve your credit score. The following are five potential advantages of buying access to a seasoned tradeline.
- Increase your chances to getting approved for a loan – The vast majority of lenders will run a credit check before offering you a loan. If your credit score is low or you have an insufficient credit history to qualify for a loan, adding a seasoned tradeline to your credit profile may help you get approved.
- Get a lower interest rate – Lenders base interest rates on how much risk you pose as a borrower. If your credit score is poor, lenders assume you’re more likely to default on a loan. Conversely, if your score is high, you present less of a risk to lenders, and they’re more likely to offer you a favorable interest rate. Buying access to a seasoned tradeline can raise your credit score and make you more attractive to lenders.
- Further your career – Many employers now perform a credit check before they hire a new employee. If you’re applying for jobs in the business or world or financial industry, prospective employers may want to know whether you handle your personal finances responsibly.
- Get an apartment – Some landlords run credit checks to ensure potential tenant is financially secure enough to pay their rent on time every month. Adding a tradeline to your credit profile can temporarily improve your credit score.
- Get better insurance rates – A bad credit history can make your car insurance rates escalate. This is because auto insurers have found that people with lower credit scores are more likely to file claims. High insurance rates can add up, making it expensive to keep your car on the road. A seasoned tradeline may improve your credit score enough to help you snag a more favorable rate.
Is Selling My Credit History Legal?
There are no federal or state laws that ban the buying or selling of tradelines. If you have a good credit history, you can add other people to your accounts as authorized users.
However, there are definitely risks involved in selling tradelines. Mostly, you should be certain you’re working with a reputable tradeline company that delivers on its promises.
How Does Having an Authorized User Affect My Credit?
If you plan to sell your credit through a service like Superior Tradelines, having an authorized user on your account is unlikely to affect your score. This is because the authorized user won’t have access to your credit at all.
In other words, the authorized user pays for the access to your account, not your available credit. They won’t get a credit card, and they can’t make purchases on your account.
On the other hand, you should be aware that not all creditors look favorably on selling tradelines. If your creditor frowns on adding authorized users through the buying and selling of tradelines, they might close your account, depriving you of credit and valuable credit history.
Should I Sell My Credit Through Superior Tradelines?
If you’re interested in selling your credit, Superior Tradelines is a solid choice. The company’s website says it has been in business since 2010, and it gets mostly positive reviews online.
Alternatives to Superior Tradelines
If you need to improve your credit score, there are other options besides buying a tradeline. Even if you plan on buying access to credit with a tradeline, you should also use alternative credit-building strategies, since tradelines won’t stay on your credit report forever.
- Pay Down Debt – Your credit utilization, which is your ratio of available credit versus debt, makes up 30 percent of your credit score, so it’s a big factor in determining your credit health. You can improve your score by paying off debt and freeing up available credit.
- Check Your Credit Report – Studies show that 1 in 5 people have mistakes on their credit report. You can check your report for errors by getting copies for free through annualcreditreport.com.
- Get a Secured Credit Card – If your score is too low to qualify for a regular credit card, you can still build credit with a secured credit card, which requires a small security deposit. If you pay your bill on time every month for a certain period of time, you can usually upgrade to a regular credit account.
- Consider a Credit Builder Loan – With a credit builder loan, you pay monthly toward a loan amount, which is held by the back over the life of the loan. Once you’ve paid the full loan amount, the bank releases the balance to you. Credit builder loans are designed to help you build credit by letting you get credit for your on-time payments. This helps you build positive payment history, which is the most important factor in determining your credit score.
A company like Superior Tradelines can be a good option if you need to improve your credit score right away to qualify for a loan. Keep in mind, however, that tradelines are a short-term fix, so you’ll need to use more permanent credit-building strategies to increase your score over the long term.