Tradelines can be a great way to leverage other peoples good credit to build your own credit. Below we’ll discuss the details of how this works and why for some it’s one of the best ways to build credit fast.
But, for many, you might find yourself involved in a legal mess or worse, a credit building scam!
Before proceeding, read my disclaimer below.
Disclaimer: You should do lots of research and be cautious with the practice of using tradelines. The banks and credit card companies actually allow the practice, so it’s not an illegal process or anything, but it could raise some ethics and red flags if you work with a company who is dishonest. I ultimately leave the decision of whether or not it’s an ethical practice on to you. Also, I’m not a lawyer or offering any legal advice here. Thanks!
How Tradelines Work (piggybacking on someone else’s credit account)
If you have a low credit score, you can build it up fast by piggybacking on someone else’s credit card account as an authorized user. But, for it to be worth the effort, the credit account must belong to someone with an excellent credit … READ MORE