It is not all too uncommon for people to get a bad credit score. This does not mean, though, that there is no way to repair a bad credit score. Contrary to popular belief, there are actually a lot of ways to repair your credit. Tradelines for credit repair are one example. This website will help you understand how season trade lines for credit repair work.
What is there to know about tradelines and how they help boost your credit score? Before knowing more about tradelines, you have to know that there are actually a lot of companies that offer these services such as Superior Tradelines. To boost your credit score, these companies utilize the well-known method of credit piggybacking. The FICO scoring model has become the basis for banks these days. Basically, FICO has come up with a mathematical equation to help analyze your credit history that is stored on file from credit reporting agencies. Using a three-digit score, your credit history will be defined starting from 300 to 850.
As a loan applicant, when your credit score is closer to 850, you will have better loan approval and interest rates. Your credit card balance and limit matters in getting 30% of your scored based on FICO. A higher credit score is often the result of a bigger difference between your combined limits and combined credit card balances. When there is the appearance of season trade lines on your credit report, there will immediately be a recalculation of your credit score. Just like that, you can see an improvement in your credit score. To know how credit piggybacking works, just think of having $100,000 present in your credit with 40 years making a perfect payment history.
If you seek the help of Superior Tradelines, your name will be included as an authorized user with perfect payment history and having a low balance and high limit credit cards. As an authorized user, you will be able to use this account yet you are not allowed to make changes to it. The main purpose of having this AU position was to add other people to the accounts of the cardholder so they can enjoy their credit line. This is beneficial for the authorized user such as yourself because the account history of the credit card that you have used will appear on your credit report. This would appear as if the credit card history has been around since the account was created. If you have a bad credit rating, this can greatly help boost your credit score easily. Despite the fact that you do not get the ability to take advantage of the credit line, you benefit in a way that the credit card will appear in your own credit report. It takes less than 60 days to get your credit score right. Click here for more information about tradelines.