How To: Improve Credit and Reduce Long-Term Debt With Credit Card Tradelines
The Best of Both Worlds In A Single Credit Tool
Credit card tradelines have been used for a long time to help people improve their credit profiles while reducing long-term debt. It's no surprise that the practice isn't widely used. Most people don't know what an authorized user tradeline is and of those who do, many don't understand how it can help them.
As a quick way of explaining how this works, let's use the example of a couple who share their finances. They may have a joint bank account for savings or checking, but they'll probably have some credit cards, too. If one of them has an excellent credit score (or even if they don't), they may choose to add their significant other as a secondary card holder (or what's formally known as an authorized user) on their credit card for a number of reasons. If the payment history is perfect and that account has been open for several years and has a good limit, these positive factors will actually be shown on the authorized user's credit report.
While not everyone has a family member or significant other who's willing or able to add them to their credit card in an effort to help them out, there are individuals who are willing to make money by adding authorized users to their card for a fee. But how does this all translate to you improving your financial situation?
You Can Buy Credit Card Tradelines
First off - and before you get any wild ideas - the idea of paying to improve your credit and reduce long-term debt is exactly what people do when they hire a credit repair agency. It's a completely legal and mutual business transaction. If you have bad credit and the money to afford a credit repair service, it would be completely normal to do so, correct? Well, in the same fashion, paying a company to have you added as an authorized user on the credit card tradeline of a complete stranger is no different. Of course, it may sound strange but it's a completely legal and mutually beneficial business transaction.
Secondly, once you've purchased a spot as a user on an older high-limit card with a perfect history, it's going to appear on your credit profile. This improves not only the average age and credit utilization on your report, but also improves your credit score and can help you reduce your long-term debt in various ways.
How Credit Card Tradelines Reduce Long-Term Debt
The better your credit score, the better your offers and terms for credit will be. It's really that simple.
When we think of credit - whether a loan or a credit card - we tend to think first in the amount, then in the payment terms, and then in the interest rate. Many of us are so blinded by the amount and the need or desire for credit that we don't even consider the potential hazards involved with using it. All kinds of lawsuits exist for predatory lending and loan practices because of this exact reason. Lenders tempt people in tough situations and in the end the user finishes in worse shape than they were before. Home foreclosures, bankruptcies, credit card default and car repossessions are very common. We all know someone who's been there.
Buying tradelines and using their leverage responsibly can reduce your long-term debt in several ways:
- Lower Your Interest: Home mortgages, auto loans, credit cards and personal loans will all be available at a lower interest rate when your credit profile has a long age, high limits, and an excellent history. There's absolutely no doubt about that. And we won't explain the possibilities but when you pull out the calculator and see how much interest truly costs you, it'll make your stomach turn.
- Increased Credit Offers: When lenders see that your profile is orderly and attractive, they'll be begging to give you credit. Rather than picking from the bottom with your fingers crossed that you'll be approved, you'll be resting easy and have the upper hand on deciding which loan or credit card you want to chose from.
- Higher Spending Limits: When you seek out a new card, a new loan, or simply ask for a credit increase on one of your existing cards, you're sure to get a higher limit if your payment history, utilization, and credit age are stronger. This is simple fact. This is why you see older people who are able to walk into a car dealership and buy anything they want without spending a single dollar on a down payment - because their credit is well aged, has high limits, and is diverse. They get approval on the spot extremely quickly and with no hassles.
With the points mentioned above, it's easy to see how better credit equals less expenses in the long run. Every penny adds up, and over the years those pennies can account for tens of thousands of dollars - if not more.
Where To Buy Credit Card Tradelines
When you're ready to improve your credit and reduce your long-term credit here are many places and ways to buy credit card tradelines. You can purchase them from an individual directly but that carries a very high risk and is not a wise idea - even if they seem to be legit.
If you don't have a family member or spouse willing and ready to add you as an authorized user, you'll need to go through a reputable, established, and well-rated company who preferably specializes only in selling tradelines. They'll be able to ensure your transaction is safe and secure while offering a money-back guarantee. You'll also receive genuine customer service from experts and priceless professional help throughout the process. That means you'll eliminate the risk of unforeseen problems like identity theft, credit lines that don't post to your credit report, or worse - someone who makes off with your money and you never hear from again.
Becoming an authorized user of credit card tradelines is safe, simple, and easy to use tools for a better financial future. If you're interested in learning more, visit GFS Group today, where you'll find high-quality tradelines at the best prices and personal customer service that you can count on.
Are Authorized User Tradelines Ethical in 2023?