Why pay to be added to a tradeline when I have family who could do the same?

Updated on June 14, 2019 in Tradelines
4 on June 13, 2019

What is the benefit of spending hundreds of dollars to be added to a tradeline by a company, when I have family who could add me to their credit cards? Will my credit score increase more if I use a company? Is there something better about the tradelines that these companies provide?

Also, if my mom adds me as an authorized user to her credit cards, will my credit score still increase? Thank you!!!

 
  • Liked by
Reply
0 on June 13, 2019

These are great questions!

So, when hiring a company any tradeline provided is managed. Meaning the utilization is kept down and the payments are ALWAYS on time (when working with a good company). When a line is provided by a friend or family member you have no contractual standards that the account (seasoned tradeline) must be held to. Meaning, they (the friend or family member) could miss a payment, and/or the utilization on the account could increase to a point that the account is no longer effective at enhancing your credit reports.

Basically what you’re  paying for is security. When working with a good tradeline company you are eliminating the risk that the seasoned authorized user tradeline you are piggybacking onto would not provide benefit to your reports. This is accomplished by the company holding the cardholder to appropriate contractual standards to ensure that and seasoned tradeline being added to a credit report would provide benefit, and not detriment. Concurrently you (as a client of a tradeline company) have a contractual agreement (with said company) that you will be listed as an authorized user onto a seasoned tradeline that will only provide benefit, not detriment. The short answer to all of this is that you are paying for security. If you are considering piggybacking on a seasoned tradeline from a friend or family member here is the question you should be asking: Are you absolutely certain that they account will be managed appropriately?

At the end of the day piggybacking on an authorized user tradeline is piggybacking on an authorized user tradeline. Meaning if you are hiring a company for a tradeline, or going to a friend or family member to be listed as an authorized user, the action is the same. Adding positive information will provide benefits, adding negative information will provide detriment. If you getting your tradelines from a friend/family member, or from a company the question you should be asking is this: Will the tradeline I’m being added to provide benefit to my credit reports, or detriment?

If you’re considering utilizing seasoned authorized user tradelines to enhance your credit scores you should have a conversation with an expert. If you want to have an honest conversation with a tradeline expert let me know.

When you are ready to realize your credit potential reach out to me!

Mike Malgoza

321-799-6155

mike@superiortradelines.com

 

  • Liked by
Reply
Cancel
0 on June 13, 2019

This is a good question, Rose! You could always give it a shot and see what happens.

Here are some points to consider before you do anything:

1.) Does your family member have cards that will actually help you (tradelines aren’t one size fits all)? If you add tradelines from a family member and your scores drop, stay the same, or hardly go up, will you know why? A good tradeline company has that knowledge. You get exactly what you need and avoid the guesswork working with a good company. 
2.) Has your family member ever had late payments and/or do they have utilization above 30% on the lines you’re adding? Do you trust them to keep it that way while you’re listed on the card as an authorized user? You get protection with a good tradeline company. 
3.) Do you have time to experiment or do you have a short-term goal in mind that you’re hoping to achieve? You’ll move quicker with a good tradeline company. Again, you’ll get exactly what you need. 

Feel free to call me at 321-799-6159 if you want to look tailored options that match up with what you need. 

Best of luck!
Cory Miller (321-799-6159)
Cory@superiortradelines.com

  • Liked by
Reply
Cancel
0 on June 13, 2019

Cory asked many great questions here. Bottom line is, if you do not have the time to experiment with different trade lines from your family hoping they work out for you and hoping they maintain a low balance, you can buy a trade line from a reputable trade line company knowing they can deliver on a quality line that works for you.

It is just a question of do you have the time to experiment or would you rather save time by working with a reputable company that is reliable?

Raj Sahoo
321-799-6157
Raj@SuperiorTradelines.com

  • Liked by
Reply
Cancel
0 on June 14, 2019

The answer is that you’re not really paying to be added as an authorized user. If it were actually that simple, your reasoning would be exactly right. And, there would be no reason to pay a company to do it. However, that’s not the reality.

You’re paying someone who knows what they’re doing and you’re effectively paying for their experience. In that regard, you shouldn’t be a company that doesn’t know what they’re doing either. You should find a company that listens to you, evaluates your credit goals, evaluates your current credit issues and makes a reliable determination and recommendation for tradelines or other credit services.

If you have a family member and you want to experiment, that’s fine. But, you could actually hurt your credit by adding tradelines that are inappropriate for you, or that are too small, Etc. It could place you in a different scorecard and actually bring down your credit score. Also, they could miss a payment, Etc. When you’re paying a company, you’re paying for the purpose of avoiding all these problems and doing something right the first time.

I hope that was helpful.

  • Liked by
Reply
Cancel