Meet Jim. He's Going to Buy Tradelines.
Let's Meet Jim, He Will Buy Tradelines and Meet His Financial Goals.
This is a short story about Jim. You are going to play the role of Jim, so let's begin this story by pretending that your name is Jim (obviously). You're about to buy your first home, hopefully. But first, let's get started familiarizing you with Jim's background, his financial situation, what he learns, and why he decides to buy tradelines.
Are you ready? Okay then, let's go.
Who is Jim and Why Does He Need to Buy Tradelines?
Jim is an average American guy. He's 27 years old and he works in IT. He's worked the same job for 6 years since he graduated college. He holds a secure position with a company he likes working for and he plans on staying there for the forseeable future, if not permanently. Jim's boss loves him and pays him a very comfortable salary with an excellent benefits package. While he's far from wealthy, Jim has managed to sock away almost $35k in cash over the last 3 years after paying off some hefty student loans. He has a couple of credit cards and the oldest of the two is 5 years old. Between the two cards, his limit is only $3,000. Jim lives alone and rents a basic one-room apartment. He drives a used vehicle which was purchased from his father during his first year of college. It's the second car he's ever owned.
While Jim's been pondering buying a home for some time now, he's beginning to feel anxious. He is stable in all aspects of his life and feels like it's the perfect time to become a homeowner. He could get a mortgage loan tomorrow but he'd rather not spend all of his $35k savings as a down payment. He'd like to spend no more than half of his savings (at the very most) to secure a home, but $10,000 would be even better and would leave him with enough cash to furnish his purchase, maybe upgrade a couple things, and also give him some wiggle room on getting a newer car next spring. The problem is that Jim's torn between his savings and the words of the loan officer he spoke to last week. To secure the $150k mortgage Jim is interested in, the bank wants all of Jim's savings as a down payment.
According to the bank, Jim doesn't have a good enough credit score to qualify for a 20-year mortgage with a desirable interest rate and a $15k down payment. He's never been late on a credit card payment, but his limits aren't high enough and his cards aren't old enough. He did finance a car during high school once, but it was used and the loan was only for $4,500. He always paid on time, but he made his last payment before college even started which was nearly a decade ago.
He falls into a common group of people who don't quite meet the standard for the mortgage they want because their credit isn't robust or diverse. His bank's loan officer gave him some advice, but he really doesn't want to spend two or three years building credit. And he surely doesn't want to hand over all of his savings only to move into a new home without any money.
Jim's contemplated the situation deeply, and he could work another 5 to 8 years to buy a home for cash but he'd need to live very frugally. He'd also need to skip upgrading to a newer car, hope his rent price doesn't go up, and pray that the housing market stays the same. With all of these things considered, Jim's become frustrated. There must be an easier way.
The thought of waiting 5 to 8 years doesn't sit well with Jim, and he's not very excited about the idea of paying rent while also trying to save more money. Jim wants to own a home, and feels that he deserves the opportunity soon rather than later. He's responsible, a hard worker, and has a solid future ahead of him - especially as his career skills continue to advance.
Watch Jim Learn About Tradelines
One day, Jim was chatting with a co-worker in the parking lot after work. Only a few years older than Jim, he has a wife and a daughter who will be two years old next month and he just purchased his first home last year. It's a nice and spacious 3-bedroom with everything they need and wanted, plus it's in a good location. While this co-worker earns a salary similar to Jim's, Jim is aware of some financial difficulties the guy had during his wife's pregnancy. Naturally, due to the circumstances and the cost of supporting two other people, Jim was curious about how he achieved the mortgage. He wanted to know about the down payment, the lending process, and a few other things related to financing and interest. What Jim discovered almost made his head spin in disbelief.
Jim's coworker had been in the same position that Jim's in right now. He couldn't get the mortgage he really wanted without offering up his full life savings as a down-payment, so he and his spouse began researching for solutions. That's when he explained to Jim what authorized user tradelines are.
"Look", said his co-worker after a somewhat lengthy conversation. "You can believe me or not, but without buying tradelines, there's no way I'd have my house right now. I wasn't about to give my bank sixty grand to get the loan I wanted", he said with a confident laugh. "It just didn't feel right. I'd get the house, but it'd leave me vulnerable. I had a newborn. I wanted the majority of my savings to remain intact to feel secure, and buying a house didn't seem right if it left me completely broke."
The co-worker got in his car and headed home, but not before sharing a contact with Jim via text message. "Reach out to them. They'll help you get to the point you need to secure the loan you're after, I'm sure of it. After all, my loan was twice what you're looking for and in less than a few months I closed the deal for my house. Just trust me and give them a call. what's the worse that can happen?"
Jim felt excited, yet uncertain. At the same time, he also felt a sense of urgency and confidence - especially after seeing how highly his co-worker spoke about this tradeline process and how easily it'd help him out if it worked as expected. Jim hopped into his car and also headed home with the intent of doing a bit of thinking and a lot of research.
What Exactly are Tradelines?
"They're really simple to understand", said Jim's co-worker. He explained how "They're actually called authorized user tradelines, and basically you pay a totally legitimate company to be added as a secondary user on the credit card of a complete stranger. Sounds crazy, right? Well, it's not. And it works."
Before Jim could ask, his coworker continued on to say how this stranger (the credit card's primary account holder) will be "someone with a long and perfect credit history who has a well-aged credit card with a really high limit", and "by being added to their card account with a perfect credit history and high limit, it will show up on your credit report in a month or two, and then BAM! Your credit score goes up. That's when you'll not only have a much higher average limit, but the average account age and much lower credit utilization required for the bank to give you the green light on the loan."
Special Note: Of course, Jim's coworker gave the shortest and most basic (yet quite concise) explanation of how it all works. To dig deeper and understand the details so you can be well-informed, we recommend you to read The Ultimate Guide to Authorized User Tradelines. It's not as long as you may think, but it does cover everything - and we mean everything - that you'll want and need to know. Jim actually read the guide himself (and that's exactly why he decided to follow the great advice his coworker had given).
See Jim Buy Tradelines
A couple days went by and Jim performed some due diligence in regard to learning what he could about authorized user tradelines. Within the week Jim decided that if he needed to buy tradelines to speed up the process of becoming a homeowner, he was going to do it. All he had to do was call, and so he picked up the phone one evening after work and made the call.
As the phone rang, Jim became more nervous, assuming there might be some hidden surprises, or that maybe they simply couldn't help him with his situation. When a kind and cheerful young woman from the company answered the phone (and more than a few of Jim's questions) he quickly calmed down and grew more eager. He couldn't believe how quick and simple it was going to be to buy tradelines.
His call ended without making a purchase, but instead typing in the address of the website provided to him by the tradeline company's customer service rep. She assured him that if he needed any additional help she'd be there and would walk him through the process. However, everything Jim needed (after having several questions and concerns answered) was available right on their website.
As he browsed the website, Jim was surprised to encounter a somewhat overwhelming list of authorized user tradelines that were available. There were hundreds! They were right there, live, each containing it's own complete details. He selected some filters to arrange the cards by age and limit, then adjusted them once more to display them by bank. He filtered out a couple banks he wasn't too fond of and began carefully selecting what he needed. The cards shown to him were based on an algorithm of his intentions by using a combination of his credit score, his current number of cards, and their limit & age.
It didn't take more than 30 minutes for Jim to create an account, add the required info, select the cards that were fit for his goal, and proceeded to checkout. He pulled a card of his own from his wallet and confidently made his purchase. The rest of the process was a piece of cake.
Shortly after, he received an email confirmation of his purchase noting that he'd be updated as soon as the order was processed - at which point he would be added as an authorized user.
It was getting late and Jim hadn't eaten, so he decided to close up his computer and relax. His work here was done, but he was definitely eager to see the results.
Jim Gets What He Needs
The very next morning, Jim recevied a phone call from the company he bought the tradelines from. Having added them as a contact, he knew who was calling and got nervous before even pickup up the phone. He anticipated a problem since he'd already paid for his tradelines and everything had been confirmed. Whene answered the call, it was the same young woman he spoke to before placing his order. She wanted to confirm that everything was correct, and confirm that the cards he chose were available and had been secured via his purchase. She also advised he'd be notified by email when the owner of each card had successfully added him as an authorized user. He could log into his account and check the status at any time.
It was less than 48 hours until Jim had complete confirmation of his standing as an authorized user of the tradelines he paid for. (Jim purchased 3 different tradelines to get his credit profile to reflect an average card age and limit as high as he possibly could within a cost-to-value ratio he felt comfortable with.)
All he had to do now was wait for the billing cycle of each card to end, at which point the card's issuers (the banks) to report the cycle to the major credit unions. He already knew (based on the detailed info of each card) when the billing cycles were and had a rough estimate of when he'd want to start checking his credit profile to see his new tradelines listed. He figured in about 5 weeks he'd be all set, and he wasn't wrong.
Jim's Second Attempt at Becoming a Homeowner
It was 3 weeks and 6 days later when the first card appeared on his credit report. Less than 5 days after that, the other two appeared. In less than 6 weeks total, all three cards had appeared across all of the major credit unions. Equifax, Transunion, and Experian had all been notified of Jim's position as an authorized user, and upon inspection of each report it showed the limits and age of each tradeline he purchased. Everything matched up perfectly, just as promised.
The same day, Jim logged into his email after work and saw a message from his bank. "Updates have been made to your credit report", it read. He quickly hopped on his phone's banking app to check the update and could hardly believe his eyes. His score had risen 58 points on average, his average credit card age had more than tripled, and his average limit was now $16,000 instead of $3,000. He checked again, and again, and again. Screenshot after screenshot, he recorded it all in case there was an error, or at least to have evidence that it worked. The next month, he was up another 17 points. Happy as ever, it was time. Jim phoned the bank and made an appointment to speak with the loan officer again.
Without telling the loan officer exactly what he'd done, he said "Look, I want you to run my credit again. I want to get the loan amount we spoke of before, and I'm not willing to spend one cent more than $15k to secure it. Let me know if it can be done this time."
The loan officer gave it no thought aside from a simple nod of his head and a reluctant "Okay, let's see what we've got." He didn't have much hope for Jim. He had dealt with hundreds of customers who tried and tried for loan approvals - sometimes taking years before being approved.
In less than two minutes and a little bit of typing, he cleared his throat, took a deep breath and looked up at Jim.
"Jim, I've got bad news."
Jim's heart began racing. His mind started to flood with thoughts of everything that could have went wrong. Before he could utter a single word (it seemed like an eternity but literally only 3 seconds had passed) the loan officer began speaking again.
"Normally I'd be here until five but my kids have a school event and I can't miss it. I'm leaving the office in 15 minutes...... and THAT doesn't give me enough time to process the paperwork for the loan on the new house that you'll be buying! Congratulations!"
Jim couldn't believe it, everything he was thinking suddenly faded and was replaced with a rush of excitement. "No way!" he yelled with a huge smile. "No way... really?!!"
Hey, Jim, I'm sorry I didn't mention the kid's school thing when you made your appointment, but I had completely forgot. My wife reminded me just an hour ago, and as you were walking in the door my boss asked me if I was still leaving early today - I'd scheduled this event over two weeks ago and I simply completely forgot it was today. But by the look on your face, that doesn't seem to bother you."
He grinned and looked up at John with a mix of self-satisfaction and happiness for Jim. "Can you come during on your lunch break tomorrow? I'll have all the paperwork and details ready and waiting on my desk for you."
Jim was in complete disbelief. "I'll be in tomorrow, but it won't be on my lunch break - I'm calling my boss right now to tell him I'm taking the day off tomorrow! I'm way too excited to work, heck, I probably won't even sleep tonight! Tomorrow I'll be in to sign the papers and then I'm taking you to lunch to celebrate!"
"See you at noon, Jim" the loan officer said as he reached out his hand. It was the firmest and best feeling handshake Jim could remember in his entire life.
"I'll be here at 11:45.." Jim said. "Thank you, thank you, thank you!"
"Looking forward to it, Jim. I don't know what you did with your credit in the last 3 months but you should start selling your secret to the masses because whatever you happened, it worked wonders for you."
After tomorrow, Jim will be ready to relentlessly scour the housing market, spending every waking hour of his free time searching online for homes. When he's not doing that, you'll be able to find Jim driving around neighborhoods at 7 miles per hour seeking homes displaying For Sale signs out front. The paperwork is done, the bank has him approved. He's free to begin the task of finding his new place. Tradelines were a grand success for Jim, so let's give him a round of applause (and an honorable mention to his co-worker for the connection).
How Can I Buy Tradelines Like Jim Did
First of all, Jim is a fictitious character. We're sure you understand this by now. Anyway, to answer your question...
If you want to buy tradelines like Jim did, you'll need to have credit that's without any recent bad remarks, and in general good standing. That means no delinquent auto loans, no recently late or outstanding credit card payments, nothing of that nature.
Next, you'll want to check your credit report from all three credit unions and make sure they're in sync. While each may have different info, there should be no major errors, or any misspellings of your name, incorrect home address, etc.. Age, date of birth, phone number, employer, and all of those fun facts should line up perfectly across all three reports.
Finally, determine what your goals are and research them. Know your standing and what's holding you back from the loans you want (so you'll know what kind of credit score you need to achieve) and then visit us to buy tradelines today. If you need help, we'll be glad to assist from there. Think like Jim, act like Jim, and get what you need like Jim by leveraging the power of authorized user tradelines today.
How To: Improve Credit and Reduce Long-Term Debt With Credit Card Tradelines