Seasoned Authorized Tradelines: The Skinnys

Seasonedauthorized tradelines are an option more and more people are exploring as a way toimprove their credit scores and thus, appear as a lower risk to creditors orlendors.

Butwhat exactly are seasoned authorized tradelines? And are they right for you?Let’s take a look.

The Basics onSeasoned Authorized Tradelines

Aseasonedauthorized tradeline is a line of credit or a credit account that’s been held open fora few years, usually about two years or more, by a borrower. The account isaged and offers an almost perfect credit history. Because of the age of theaccount and the history behind it, the seasoned authorized tradeline isperceived as low risk with lendors and creditors.

Seasonedauthorized tradelines are always held in good standing, at least any that youshould be buying.

BuyingSeasoned Authorized Tradelines

Nowhaving a credit account that’s at least two years old and that’s in goodstanding is obviously very appealing for many reasons. Having an account likethat obviously looks very, very good on an individual’s credit scores. Soobviously, maintaining your accounts in such a way over the long term is a goalto shoot for.

Buthaving an account like that can be hard to obtain for many people. And that’swhy buying access to a seasoned authorized tradeline can be anappealing concept.

Whenone buys access to a seasoned authorized tradeline, that means they’ll be addedonto another individual’s credit account as an authorized user. Becoming anauthorized user doesn’t mean you’ll have access to credit cards or the accountinformation itself though. It simply means you’ll have the means to improveyour credit scores through being a part of that credit account.

Anyand all credit accounts you’re a part of are taken into account when it comesto calculating your credit score. It doesn’t matter whether you began theaccount or not.

People,regardless of relation, can be added to or add on other people to creditaccounts. It’s perfectly legal and a common business practice. In fact, thisprocess is also known as piggy-backing.

Bybecoming an authorized user on someone’s seasoned authorized tradeline, thiswill improve your credit score because of the excellent credit history and the historybehind the account.

Theperson who adds people onto their credit accounts is known as an ApprovedSupplier. Should they participate in the Approved Supplier program through Top Tradelines, they’ll be paid for adding people onto their accounts. So if youthink about it, it’s a win-win situation.

Situations toKeep in Mind

Sowho should ideally be considering a seasoned authorized tradeline? Here are afew situations to keep in mind.

Studentswho may be applying for school loans may want to consider a seasoned authorizedtradeline. Since most students, especially those in their twenties, likelydon’t have a lot of credit history, many lending bodies may be hesitant to dobusiness with them. So a seasoned authorized tradeline may help a studentqualify for better loans.

Businessor home owners may also consider a seasoned tradeline if they’re thinking abouttaking out loans or mortgages. Having a better credit score will improve howone is perceived. Lenders and creditors will view you as lower risk when youhave a decent credit score.

Formany people, it’s easy to see why seasoned authorized tradelines are becoming apopular option. They’re simple, affordable, and do so much to improve creditscores and individual peoples’ situations. Seasoned authorized tradelines canprovide both students and home owners with a valuable advantage when it comesto qualifying for loans or lines of credit.