6 Common Myths About
Purchasing credit boostline is a common and effective way to improve your creditworthiness and boost your credit score. When you buy a boostline (also commonly referred to as a credit tradeline), you are added as an authorized user on another person’s account. In doing so, the positive credit history from that account will reflect on your credit report, offering an increase in your credit rating.
Unfortunately, there is a lot of misinformation out there about what boostlines are and how they work. Below, we’ll dig into some of the most common myths surrounding credit boostlines and set the record straight so you can make an educated decision about whether a boostline is right for you.
Boostlines Are illegal
Purchasing a credit boostline is completely legal. It is very common for individuals to add authorized users to their accounts to help them boost their credit scores or begin establishing a credit history. In fact, many parents do this to help their kids start building credit.
Of course, it is essential to buy a boostline from a reliable source like CreditBull Inc.
For those who don’t have friends or family members who are willing or able to add them as authorized users, buying a credit boostline is an excellent workaround. Having a solid credit score opens many doors for you, from qualifying for credit products to securing apartment rentals and more, and boostlines can help you build yours.
You Can Fully Repair Your Credit Using Boostlines
Boostlines are not a substitution for repairing your credit. Boostlines allow you to piggyback on the positive information from another person’s credit report, but they do not remove any negative information that may exist on your account.
If you have accounts that are in default or delinquent, a boostline probably won’t provide much of an increase in your score. You should take steps to begin repairing any delinquent accounts before you consider purchasing boostlines.
Once you’ve consolidated debt resolved charged-off accounts, a boostline might help you increase your score as you begin rebuilding your credit. It could even help you save money by positioning you favorably in the eyes of lenders and enabling you to negotiate lower interest rates.
Boostlines Are Extremely expensive
Don’t mistakenly assume that credit boostlines are very expensive because options are likely available that fit your budget. If you think a boostline could be effective for increasing your credit rating, make sure you shop around.
The price of a boostline varies depending on the age and the credit limit of the account in question. A newer, low-limit account might cost only a couple hundred dollars, while an established, high-limit account could cost over $1000.
CreditBull offers boostline packages, because we believe that bundling multiple boostlines is a better way to potentially boost credit scores.
Boostlines Are Guaranteed To Improve Your Credit
There is no guarantee that a boostline will increase your credit rating. The likelihood that a boostline will work depends on your unique credit situation and the boostline you purchase. Before you begin shopping for a boostline, make sure you understand all the components that determine your credit score.
Then, review your credit report and determine which areas could use bolstering. This will enable you to be strategic about which boostline you purchase.
If you have a very minimal credit history, it will probably be most impactful to invest in a credit boostline that is a few years old. Similarly, if your credit utilization ratio is unfavorable, purchasing a high-limit boostline could be a quick way to bring it back within a more optimal range. Typically, it’s recommended never to use more than 30% of your available credit. Could a boostline put you back in that range?
For more detail on who boostlines are best for, check out our guide to what to know before becoming an authorized user.
Credit Boostlines Are Considered Unethical
Credit boostlines are not unethical. They are just one of several techniques you may use to improve your credit score. Just as you might open a new credit account to improve your credit mix, pay down your account balance to lower your credit utilization rate, or work with a credit repair specialist to remove negative information from your credit report. Once again, it is very common for individuals to add authorized users to their credit accounts, which is all a boostline is.
The same sentiment applies to selling boostlines: it is entirely ethical to sell boostlines. Some folks don’t have the good fortune of having friends or family members who can help them build credit. Selling a credit boostline is a helpful service you can offer to others to aid in their journey to build credit.
Purchasing A Boostline Will Enable You To Use Someone Else’s Credit
A boostline does not give you the ability to use someone else’s credit card. When you purchase a boostline, you are added as an authorized user on an account. This means the account will appear on your credit report, but you will not otherwise have access to the account or the card associated with it.
With this in mind, it’s essential to be selective about the credit boostline you purchase. Because the activity on the account reflects on your credit report, you need to ensure the history of the account is positive. An account with a history of missed payments or a high credit utilization rate could reflect poorly on your credit score. Since you can’t control these factors, you must do your research before purchasing. This is where CreditBull comes in to make sure you get the right accounts that can affect your credit score positively
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The Bottom Line
Credit boostlines are a strategic and effective way of improving your credit rating within a relatively short time. There is nothing illegal or unethical about using tradelines to improve your score. However, you should be aware that boostlines are no substitute for repairing your credit. If you have accounts in collections, boostlines may not be effective until you’ve settled those accounts and are on the path to rebuilding credit.
If you’re interested in taking advantage of a credit boostline, CreditBull.com can help. We have several different tiers of boostlines available, so you’re sure to find an option that works for your budget.
Not sure which boostline is right for you? Speak with one of our trained credit specialists, who will happily walk you through each of our products and help you select the best option for your situation.