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Tradelines for sale - Thoughts?


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I recently stumbled upon a website that sells tradelines.  For a fee, the company will add you as an authorized user on someone or some company's tradeline, which in turn, will improve your credit scores.  From what I've read, it seems totally legitimate, especially because these tradeline sellers are bonded and you can sue the company for the bond if the tradeline doesn't appear on your CR or you somehow get into hot water and have to lawyer up.  Seems to me as though it's one of those things that will eventually get out of hand and the government will step in and create laws that make it illegal, not without indecent however. 

 

Any thought about this and if any of you have used these services?

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Scam.  FICO is well aware of the "authorized user" ploy and AU TLs are ignored in the scoring algorithms. 

 

The only time being an AU has a positive effect is if FICO can determine that you are a legitimate relative or spouse.  Otherwise, while the TL may appear on your reports, it doesn't improve your ACTUAL FICO scores.

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  • 2 months later...

It's never a good idea. Any client I've had who has utilized a service like that has not had much success. Either the tradelines only last on your report for a brief period of time, or don't report properly.

 

Lenders like to see that you're either a Joint User or Borrower on an ccount. If you have anyone who has added you as an authorized user to an account (family member, partner, spouse, etc.) you can ask them to make it a Joint account, which means you share responsibility and liability for the account. That will be factored into your FICO score.

 

Or you can look into obtaining personal or secured accounts to help round out your personal credit profile.

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