How Tradelines Work

There’s no way around the fact that having a good credit score opens up opportunities for you. Whether you want to finance a vehicle purchase, rent an apartment, or purchase a home, a good credit score will help you be approved for financing and secure favorable interest rates.

If your limited credit history or low credit score prevents you from reaching your goals, it’s time to improve your credit rating. One powerful way to do this is by purchasing a credit boostline so you can absorb some positive data on your credit reports.

If you’re unfamiliar with credit boostlines, keep reading because we’ll break down everything you need to know about this credit improvement strategy.

What Is a Credit Boostline?

Any account you are attached to appears as a tradeline on your credit report. The data associated with the account is reported to the credit bureaus and reflects back on your creditworthiness. 

A credit boostline is an credit account that you can purchase through CreditBull for the sole purpose of increasing your credit ranking.  Some of the positive credit data passes over to you when they add you as an authorized user (AU). 

Essentially, credit boostlines allow you to build credit by piggybacking on an existing account’s positive credit information. This practice is commonly referred to as “buying a credit tradeline” or “renting a credit tradeline,” but we prefer the term “boostline,” as it is more specific. When you rent a boostline, you do not have access to the credit card associated with the account you purchase, but the positive data from this account will impact your credit score for the better. The information passed over includes payment history, the amount owed, and the length of credit history, all of which are essential factors that influence your credit score.

Is Purchasing a Boostline Legal?

Purchasing a credit boostline is completely legal. A boostline simply means you are added as an authorized user on a healthy, already established credit account. This practice is completely normal and done all the time. 

In many cases, individuals are added as authorized users on a family member’s credit card to help them begin building credit. However, if you don’t happen to have a family member who is willing or able to help you in this way, purchasing a boostline is a great alternative. 

What Factors Determine Your Credit Score?

Before we dig into how boostlines can help improve your credit score, you must understand how your score is calculated in the first place. This enables you to make educated, strategic decisions around which boostline will be most impactful for your unique situation.

The factors used to determine your credit score are:

1. Payment history:

A history of on-time payments accounts for 35% of your overall score.

2. Credit mix:

Lenders like to see that you can manage different types of credit (say, a credit card, student loan, and mortgage). Your credit mix makes up 10% of your score.

3. Credit history Length:

The age of your credit accounts makes up 15% of your overall score as it shows lenders you have managed your money responsibly for many years. Never close your oldest credit accounts.

4. Recent inquiries:

Frequent credit inquiries can be a red flag for lenders, indicating that you might be taking on too much financial burden—the number of recent inquiries on your credit report account for 10% of your overall score. 

5. Credit utilization:

 Lenders want to see that you can manage your money responsibly, so your debt to credit utilization ratio makes up 30% of your score. The rule of thumb is never to exceed using 30% of your available credit.

For a closer look at the different types of credit and how your score is calculated, check out our guide to how credit works.

What Are The Benefits of Boostlines?

When a boostline appears on your credit report, it creates a record of positive credit information for credit bureaus and prospective lenders. If you have bad marks on your credit report, the positive data from a boostline may help offset them.

For those working to establish credit for the first time, the data from a boostline can help improve your overall creditworthiness, leading to an increased credit score and a higher likelihood of being approved for credit products in the future. 

Some tangible examples of the benefits of buying or renting a credit boostline include:

  • Building enough credit history to qualify for your own credit card
  • Boosting your credit score enough to get your rental application approved (this is super helpful in a competitive rental market)
  • Putting you in a position to negotiate more favorable interest rates for your existing debts
  • Helping you save money thanks to lower interest rates

How Does Buying a Boostline Work?

The process of buying a boostline is very simple. We strongly suggest you call us to see if we can help. You can select a boostline through CreditBull’s online marketplace, you will have to complete some basic paperwork to complete your purchase. 

For the boostline to be properly configured, you must provide personal information such as your driver’s license and social security number. Otherwise, the owner of the account won’t be able to add you as an authorized user.

Once you’ve completed the payment and submitted your paperwork, you simply have to wait for the information to be processed and the boostline to post to your credit report. Usually, the boostline will post by the end of the following reporting period.

How Long Will It Take To See a Credit Score Increase After Purchasing a Boostline?

One of the best things about boostlines is that you should see the positive effects within a relatively short period. 

Typically your credit report is updated every 30 to 45 days, but in some cases, it may take as many as 90 days for the boostline to appear on your report. As a result, your credit score should see an increase within this time frame as well.

Potential Downsides of Boostlines

A boostline alone will not repair bad credit:

Boostlines work best when paired with other efforts to improve or rebuild your credit. If you have several delinquencies or negative marks on your credit report, a boostline won’t resolve them. However, a boostline may give you the credit increase you need to qualify for additional products that can help you continue repairing your credit.

Your score may not improve:

A credit boostline is not guaranteed to improve your credit score. It is only one factor among several that affect your credit rating. For instance, if you purchase a boostline but let another account go delinquent, you may still see a decrease in your score. Before buying a boostline, make sure you understand all the factors that contribute to your credit score and consider how a boostline might work in conjunction with your overall credit situation.

They don’t fix high credit utilization:

Credit utilization, or the ratio of credit to debt that you carry, makes up 30% of your overall credit score. With this in mind, paying down your existing debt is a quick win when it comes to improving your credit score. Purchasing a tradeline will offer benefits like positive payment history and length of credit history (also important factors in determining your score), but it will not necessarily resolve a high credit utilization ratio. Depending on your situation, your money may be better spent paying down existing debt rather than purchasing a boostline.

How Much Do Boostlines Cost?

Boostlines vary in price depending on factors such as the age of the account in question and the credit limit on the account. A boostline package through CreditBull varies depending on what package fits your needs best. 

Before you begin shopping for a boostline, it’s important to understand how your credit score works and which factors relating to your score need the most improvement.

If you have a short credit history, it may make sense to invest in an established boostline that has 5 or 10 years of age. If you already have a lengthy credit history, purchasing an aged boostline may not make much of a difference to your score unless it also has a high credit limit.

On the other hand, if you have a high rate of credit utilization, purchasing a high-limit boostline could help improve your score (though it may not be as effective as paying down existing debt).

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Where can you purchase boostlines?

CreditBull.com is the best place to purchase a boostline safely online. You can fill out our very short form for one of our experts to reach you at a desired time.  Our goal is to help our clients achieve financial freedom by helping them maximize their credit. 

We offer several tiers of boostlines at different price points that you can choose from based on your needs. We are proud to help you work towards improving your credit and achieving your financial goals.

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