What are auto tradelines?

Updated on August 7, 2019 in Auto Tradelines
1 on August 5, 2019

I want to balance out the accounts that I have (I only have credit cards). Would auto tradelines help? If so, how do I get them?

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0 on August 7, 2019

Hey, Tabitha!

Auto tradelines wouldn’t help the way that authorized user tradelines on revolving credit would. First of all, an open auto loan would add debt to your credit report, which wouldn’t be good. Second, a paid off auto loan wouldn’t help because it is closed. Revolving credit (credit cards) are powerful because they’re open/ongoing accounts. If they’re good cards, they’ll add perfect payment history, available credit (instead of debt) and low utilization. This can have a positive impact on your credit. 

Best of luck!

Cory Miller (321-799-6159)

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