There will moments in your life where your credit score is not something that you can be proud of. This does not mean, though, that there is no way to repair a bad credit score. You have to understand that there are also strategies that would help you get a good credit score back. One such example is tradelines for credit repair. You can read more here on how to repair your credit score with season tradelines; so, make sure to click here for more.
How does tradelines work and why are they able to help repair your credit? Prior to understanding tradelines better, you have to know that companies such as Superior Tradelines can give you these services. How these companies work is that they do credit piggybacking so that your credit score will go up. The FICO scoring model has become the basis for banks these days. With the help of FICO, a mathematical equation is created that would analyze your credit history as they are kept on file by respective credit reporting agencies. Starting from the scores of 300 to 850, your credit history is defined in three-digits.
Usually, banks keep your loans approved and give you better interest rates when your scores are near 850. According to FICO, 30% of your score is calculated from the ratio of your credit card balance and limit. When the difference between your combined limits and credit card balances is bigger, you will get a higher credit score. Once season trade lines will be used on your credit report, your credit score will be calculated once again. Just like that, you can see an improvement in your credit score. With credit piggybacking, actually, your score can go up just like that with having an available credit of $100,000 and 40 years of having a perfect payment history.
While Superior Tradelines will establish low balance, high limit credit cards and a perfect payment history for you, they will be adding your name as an authorized user to them. As an authorized user, you will be able to use this account yet you are not allowed to make changes to it. Originally, the AU position was created to give cardholders the ability to add other people to their account for them to have access to their credit line. On the part of the authorized user, they have the added benefit of obtaining the account history of the credit card as reflected into their credit report. It would look as if the credit card history has been existing ever since the account was made. This allows a great boost to your credit score if it is currently bad. Even if you have no power over the credit line, you can have this credit card copied into your own credit report. With just less than two months, your credit score goes back on track. If you want to read more about tradelines, click here for more.
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