Credit, Credit Scoring, and The Best Kept Secret

Almost any and every adult you know probably has a credit card. They're an extremely common part of our modern financial system and everyone is familiar with them. Some of us use credit cards as needed and pay the full balance at the end of the month, while others make minimum payments. A few people use them to their benefit via rewards, points, and cash-back programs to actually earn (or at least save money) on purchases. They then pay the full balance before their monthly statement arrives, without ever accruing any interest charges.

The same can be said for loans - everyone is familiar with them. Whether it's an auto loan, home mortgage, business loan or a simple personal line of credit, they are all practical financing tools that allow us to make purchases without having to pay the total cost all at once. Unlike credit cards, loans are generally reserved to finance higher-priced items based on a very specific repayment plan, with an array of interest rates. The interest may fluctuate or be fixed, but that depends on the borrower, the loan, the lender, and other factors.

In the same manner of how people chose to utilize their credit differently, everyone has their own thoughts about their credit score. Some rarely ever check it, some check it ocassionally or only before/during applying for a loan, and others watch it like a hawk; doing eveything in their power to optimize and maintain the highest score possible.

For the latter - or for anyone who is researching how to grow, nourish and maintain their credit score - they all generally find, learn, and practice the same basic processes. These "best practices" have been repeated over and over, millions of times.

Banks, lenders, credit specialists, and plenty of written resources all seem to give the same information. They sound something like this:

"Make your payments on time, keep your utilization under 30%, use your card wisely, and only purchase what you can afford to repay. And don't forget; avoid getting into too much debt because it can be hard to pay back!"

In reality, this is not what financial insitutions want - regardless of the advice they give.

The More, the Merrier

Lenders don't want you to max out your credit line or take loans you can't repay. However, at the same time they definitely want to reap the benefits of their services through the mechanism of interest.

For example, maintaining a balance of 25% to 30% of your total credit limit, you'll be able to keep a good standing on your credit report. But by doing so, you're also ensuring your lender will be profitting nicely from the interest.

Most people find no problem hovering around 20% credit card utilization and making smaller payments. In fact, it's probable that a good percentage of cardholders have double or triple that amount of overall utilization. And as long as you can make your minimum payment on time the card company could care less what the balance is, or your utilization rate.

Why? Because the more you owe, the more they make. This means the bank's own advice on "using the best practices" is definitely not what they genuinely prefer in regard to your line of credit.

Now, to get back on track and discuss the "latter" group, or those who are watching their credit like a hawk. They are reading forums, studying how credit tends to work, and anticipating how high their credit score will be next year or 3 months from now if they incorporate a specific payment structure, or pay a precise percentage on a specific date during their payment cycle. Some of them want to achieve the highest score possible to gain bragging rights, while others want the ability to buy big ticket items at any given moment. Others are just borderline obsessive with the simple idea of having a perfect and very high credit score.

Yet still, even for those who fall in this realm of "credit enthusiasts", there's a technique (somewhat of a secret to improving credit) that's extremely simple. What's more? The vast majority are not using because they're not even aware of it.

The Secret to Improving Credit is Authorized User Tradelines

Authorized user tradelines are, very simply explained, someone else's line of credit. If someone has an older, higher limit credit card with perfect payment history and low (or no) utilization and adds you as a user, it can improve your credit score impressively in a very short period of time. In fact, when executed correctly, this "secret to improving your credit" probably works faster and better than any other method out there. It is legal, it is proven, and its the perfect way to gain anywhere from 20 to 100 points difference in less than a couple short months.

Now I'm sure you're asking, "but does it really work?"

The answer is yes, and it works like this:

The owner of the card contacts the card issuer and requests a second user be added to their card. They provide all of your information, the banks adds you to the card, and the card is issued and sent to the account holder (note that the card is never sent to the person who has been added as a secondary user). What follows is when the next statement date hits and the card company reports to the credit bureau, they also report the new user as having this same high-limit, low-utilization, well-aged credit line with a perfect payment history.

As you've already guessed, the secondary user will now receive a big bump to their overall credit score since their report reflects this credit line. This is how authorized user tradelines work, and this is the best kept secret for improving credit.

Some will say it's illegal, a shady or dangerous practice, or tell you to avoid it at all costs. The truth is, they're simply uninformed, misonformed, or had a bad experience as the result of performing their own due dilligence. Tradelines are 100% legal and protected by law. They're also perfectly safe if you know what you're doing.

How Can I Find and Use Someone's Credit Card Tradeline?

If you know someone who has held a high-limit credit card for many years that is rarely used and has never made a late payment, you'd be wise to ask them and very lucky to be added as an authorized user. Your credit can make literal leaps and bounds, allowing you to get your own cards, better and bigger limits, or loans that may be currently unattainable for you.

This is a difficult scenario to encounter, however. Most of us don't have the pleasure of people just willing to add us as a user on their personal credit card, even if you'd have no access to spend and never saw the physical card for yourself. But here's the little trick...

The best kept secret for improving your credit score can actually be bought. Yes, that's correct. You can purchase the credit line of a complete stranger. It's safe, it's secure, it's legal, and it works - but you need to use a reputable tradeline company who specializes in offering them.

You'll never meet the card owner, and you'll never even know their name. You won't have access to spend with the card, and you will not need to worry about doing any of the work involved to make this all happen. All you do is select the appropriate tradeline, pay for your purchase, provide a little info, and within a short period your credit score will reflect this new account on your credit report.

It really is that simple, and works almost like magic. And while it's not free (nothing is), it's well worth the cost. Especially when your increased credit will help you achieve your personal financial goals by simply paying rather than working for it. It's like taking the elevator instead of the stairs.

Are you having some doubts? If so, it's time to educate yourself, and the time to get started is now.

Learn more about authorized user tradelines by reading The Ultimate Guide to Authorized User Tradelines today. You'll thank us for it, and you'll be happy you took the time to investigate. The best kept secret for improving credit scores is waiting for you - all you have to do is make your move.