Tradeline Supply Company Review
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Tradeline Supply Company lets you temporarily rent a credit account, such as a credit card, as a way of temporarily adding years to your credit history. This can help someone with a low credit score get the credit they need to take out an auto loan or qualify for a mortgage.
If your credit history needs a boost, buying a tradeline could be a good strategy for giving it a short-term bump.
What Is Tradeline Supply Company?
Founded in 2017, Tradeline Supply Company is a relative newcomer that's made a big splash in the tradeline industry. Part of the reason for its success is that its offerings start out at a much more affordable price compared to many of its competitors.
Tradeline Supply Company also makes its list of available tradelines visible on its website, so users can search on their own for a tradeline that's within their budget. This straightforward user platform has made them a favorite among those looking to boost their credit history by purchasing a tradeline.
When you buy a tradeline, what you're actually buying is the right to be added as an authorized user to another person's account. Tradeline Supply Company acts as a middleman between buyers and sellers through its online platform.
Tradeline Supply Company is quick to note on its website that it doesn't guarantee your credit score will go up because you purchase a tradeline. However, no tradeline company can make that promise.
Instead, what Tradeline Supply Company can do is give you access to legitimate credit accounts with a long history, positive payment history, or both. While you won't stay on the account as an authorized user forever, the idea is that you'll remain on it long enough to see your credit history improve.
Like all good tradeline companies, Tradeline Supply Company doesn't guarantee a specific number increase to your credit score. However, it does make several guarantees that can give you peace of mind.
Specifically, Tradeline Supply Company guarantees you'll show up as an authorized user on the tradelines you purchase for a minimum of two reporting cycles. It also guarantees reporting to two out of the three credit bureaus.
Additionally, Tradeline Supply Company says that every tradeline it sells has a credit utilization ratio of 15 percent or lower, and that all of its tradelines have a perfect payment history with no late payments.
Is Tradeline Supply Company Safe to Use?
For example, it boasts a 4.6 out of 5 stars across 52 reviews on Google reviews. Reviewers report that adding a credit account from Tradeline Supply Company boosted their credit score by 100 points or more.
While there are a handful of negative reviews posted at other sites, these seem to be relatively rare, and Tradeline Supply Company typically posts a response with an explanation.
How to Choose a Tradeline
When you buy a tradeline, you want to make sure it's a good fit for what you're trying to achieve. In most cases, you'll want to consider two things: the credit limit on the account and the length of the account's credit history.
The account's credit limit refers to how much available credit it has, whereas the credit history is how long it's been open. Both of these factors will determine the cost of the tradeline.
So which factor should matter most to you? It depends on your current credit score and what you're trying to accomplish.
For example, if you have little or no credit history, you probably want to look for a tradeline that's been around for a while. By getting added as an authorized user on an account that's been active for many years, you get that lengthy history added to your credit file, too — at least temporarily.
If you have bad credit, buying a tradeline with a higher credit limit and a positive payment history can help add to your credit history by improving your credit utilization. This is how much available credit you have versus how much you're using.
While you can't do much in the short-term to improve your credit history, adding a tradeline to your account can make it appear as though you have access to a higher credit limit. Because your credit utilization makes up 30 percent of your credit score, adding a tradeline with a high credit limit may help.
Tradeline Supply Company is quick to point out that it's important to do your homework when it comes to buying a tradeline. The company even says explicitly that buying a tradeline can actually lower your credit score if you add the wrong kind of account to your credit file.
How Tradelines Improve Credit History
When you buy a tradeline, you don't actually buy anything. Instead, what you're buying is temporary access to another person's credit account.
In a perfect world, everyone would have a rich uncle or other wealthy relative willing to add them to their credit card as an authorized user. Since many people don't have this kind of relative, buying a tradeline can be an effective alternative.
By purchasing the temporary use of someone else's credit, you essentially piggyback on their hard work. This can give you the short-term boost you need to qualify for a loan or get a better interest rate.
Once the tradeline appears on your credit file, it will add to your credit history. Additionally, potential lenders will see a lengthy credit history or positive payment history where you didn't have one before.
In short, buying a tradeline can help out your situation in three ways:
1. You "inherit" the account's positive payment history
The best tradelines have years of on-time payments. When the account posts to your credit file, you get to piggyback on all those payments.
If you work with Tradeline Supply Company, you can rest easy knowing that any tradeline you buy will have a perfect payment history, as the company doesn't sell tradelines that have late payments.
2. The account's lengthy history becomes yours
For a short time, you also inherit the account's lengthy history. This can be a big help to people with little or no credit history of their own.
Generally, the longer a tradeline's history, the more you can expect to pay for it.
3. Your credit utilization improves
Ideally, you should keep your credit utilization below 30 percent. If you have limited available credit, adding a tradeline can improve your credit utilization ratio by adding additional available credit to your credit file.
For example, if you start out with a credit card with a $1,000 credit limit and carry a $400 balance, your credit utilization is 40 percent. Now assume you buy a tradeline with a $10,000 credit limit, making your available credit $10,600.
When you calculate your new credit utilization using this figure, your credit utilization ratio is just 3.8 percent.
Is Selling My Credit History Legal?
Selling your credit history is legal, as is buying someone else's credit history. There are no laws that forbid the buying or selling of tradelnes.
Before you sell (or buy), however, you should keep in mind that there are risks involved in buying or selling tradelines.
If you're buying a tradeline, it's important to work with a reputable company. You should also know that some lenders are savvy about spotting authorized user accounts and might turn you down for a loan or other credit offer if you can't confirm your relationship to the owner of the account.
If you're selling, be certain the tradeline company is legitimate. Also ask about their policy regarding your personal information, as you want to feel confident they're not going to sell or otherwise disseminate your financial or personal data to third parties.
Sellers should also ask how often the tradeline company sells a given tradeline. This is because adding too many authorized users to your account can cause credit card companies and other creditors to cancel your account altogether.
Whether you're selling or buying, it's also important to steer clear of companies that promise specific results. While a tradeline can certainly improve your credit situation, no legitimate tradeline company will guarantee your credit score will increase by a certain number.
How Does Having an Authorized User Affect My Credit?
If you've worked hard to establish good credit, it's understandable that you want to protect it. As a result, you might wonder if selling access to your tradeline will have a negative impact on your credit.
When you sell a tradeline, the authorized user doesn't have access to your credit account. For example, if you sell your credit card as a tradeline, the authorized user never sees your card number, doesn't receive a physical card, and can't charge anything to your account.
However, selling a tradeline is not without risk. The main thing to be wary of is adding too many authorized users to your account, as this might cause your creditor to suspend or even cancel your account.
In other words, if you're overzealous about selling access to your account, it could be a red flag to creditors.
This is why most reputable tradeline companies recommend limiting each credit account you sell to a certain number of authorized users at a time. For example, Tradeline Supply Company restricts sellers to two authorized users for every two reporting cycles.
You can also reduce the risk of getting suspended or canceled by taking breaks between sales. For example, you can make a sale and sit out the next sales cycle to give your card a "rest."
By being conservative about how often you rent out your credit account, there's a good chance you can continue earning a commission on your tradeline for as long as you maintain the account.
Should I Sell My Credit Through Tradeline Supply Company?
Before you sign on to sell your credit account with a tradeline company, you should take time to make sure it's a good decision. As Tradeline Supply Company itself points out on its website, there is a risk involved in selling your tradelines, as it can lead to getting your account suspended or canceled.
If you're comfortable taking the risk, working with Tradeline Supply Company may mitigate some of the riskiness involved. This is because Tradeline Supply Company puts a strict limit on how many authorized users you can add to your tradeline during a single reporting cycle.
By sticking with two authorized users at a time, you reduce the risk of your creditor flagging your account. This way, you still earn a commission while protecting the good credit you worked so hard to build.
Alternatives to Tradeline Supply Company
Buying a tradeline can be a good way to add history to your credit reports, but it's not the only way to improve your credit situation.
There are more effective strategies for improving your score over the long term.
1. Pay Down Credit Card Debt
It takes time and effort to pay down credit card debt, but the payoff is definitely worth it. If you carry a large credit card balance, paying it down will improve your credit utilization and save you money on interest.
2. Check Your Credit Report for Accuracy
The Federal Trade Commission (FTC) reports that 1 in 5 people in the U.S. have at least one mistake on their credit report. This means that 20 percent of Americans are saddled with an error that could be pulling down their credit score.
Fortunately, there's a way to fight back. By law, you're entitled to one free credit report from all three credit bureaus every 12 months.
3. Open a Secured Credit Card
If your credit score is low, you might have a difficult time getting approved for a credit card. In this case, it's a good idea to start out with a secured credit card.
With a secured card, you must put down a security deposit up front. This security deposit, which in most cases is also your credit limit, protects the credit card company in case you default on your payments.
Once you have the card, you should use it to make modest, regular purchases and then pay them off every month. As the credit card company reports your on-time payments, you build a positive payment history.
As long as you use your secured credit card responsibly, you should see an improvement in your credit score. Some secured card lenders even let you transition to an unsecured card with a higher credit limit after a period of responsible use.
4. Take Out a Credit Builder Loan
Another way to build credit and improve your credit score is to open a credit builder loan. Credit builder loans work by allowing you to borrow from yourself and then pay yourself back.
In fact, you can think of a credit builder loan as a traditional loan in reverse. Instead of getting your loan money up front, you pay into an account every month over a period of time.
When the allotted time period is up, the balance of the money you paid into the account becomes yours, plus any interest you earned. By making regular, on-time payments every month over the life of the loan, you build a positive payment history that gets reported to the credit bureaus.
Tradeline Supply Company Reviews FAQs
Here are some common questions and answers people have about Tradeline Supply Company and the tradelines it sells.
How Much Do Tradelines Cost?
The cost of any given tradeline can span a wide range and depends on the quality of the tradeline. For example, a very old tradeline may cost thousands of dollars, while a tradeline that's just six months old might only set you back a hundred dollars.
If you want a so-called "seasoned tradeline," which is a tradeline that's been active for a long period of time, you can expect to pay a premium for it.
Tradeline Supply Company lists its current tradelines, along with their prices and other information, on the company website. This lets you browse and shop for a tradeline that fits your goals and your budget.
How Long Does It Take to Purchase a Tradeline?
When you buy a tradeline from Tradeline Supply Company, you conduct the entire transaction online. This means the actual purchasing process is nearly instantaneous.
However, it will take longer for the tradeline to actually post to your credit file. After you've purchased the tradeline you want and uploaded the required documentation (your driver's license and social security card) to the Tradeline Supply Company website, you must wait for the tradeline to get picked up and reported by the credit card company.
According to Tradeline Supply Company, any tradeline you buy by the "purchase by date" will post in the upcoming reporting cycle. However, if you buy after that date, the tradeline will post in the next available cycle.
How Much Money Can I Make Selling Tradelines?
Tradeline Supply Company doesn't publicly state how much commission it pays its credit partners for listing a tradeline for sale. However, people on various internet forums report earning about $75 to $125 per authorized user.
For example, on Reddit user said they earned within this range, ultimately netting $2,800 for the year with five different cards.
Another user on the same Reddit forum said they earned around $100 per authorized user, for a total of $2,000. However, they cautioned that adding authorized users resulted in their card getting canceled, so it's possible they added too many users at once.
How Fast Will My Credit History Improve After Buying Tradelines?
First, it's important to note that no tradeline company can guarantee a specific improvement in your credit score. Instead, companies like Tradeline Supply Company promise only that the tradeline will have a positive payment history, a 15 percent or lower credit utilization rate, and will remain on your credit report for two reporting cycles.
While Tradeline Supply Company won't guarantee a specific score increase, it does guarantee that the tradelines you buy will appear on your credit file in the next reporting cycle as long as you buy before the "purchase by date."
Tradeline Supply Company offers the following example: If the "purchase by date" is the 5th of that month and the reporting period runs between the 16th and the 23rd, the company guarantees your tradeline will post between the 16th and 23rd as long as you purchase by the 5th of the month.
How Long Do Tradelines Stay on Your Credit Report?
The amount of time a tradeline remains on your credit report depends on the company you purchase from and the nature of the tradeline itself. For example, Tradeline Supply Company guarantees that all its tradelines will stay on your credit report for a minimum of two reporting cycles.
Given that a credit reporting cycle can last anywhere between 30 and 45 days, you can generally expect to see the tradeline on your credit report for a minimum of two months and maybe as long as three or four months.
It's also possible for a tradeline to stick around even longer, as some credit accounts can linger on your report even after the account is closed. However, this is not the norm, so you shouldn't count on a tradeline showing up for more than a couple reporting cycles.
If you're careful to work with the right company, buying a tradeline can be a good strategy for injecting some short-term health into your credit history. Tradeline Supply Company makes it fast and easy to buy and sell tradelines online.
However, it's important to remember that purchasing tradelines is a quick fix that doesn't last. To improve your credit score over the long haul, it's more effective to use traditional methods for raising your credit score.
About the Author
Mike is a recognized credit expert and founder of Credit Takeoff. His credit advice has been featured in CNBC, Investopedia, CreditCards.com, Bankrate, Huffpost, The Simple Dollar, Reader's Digest, LendingTree, and Quickbooks. Read more.