Poor credit scores? If yes, then there will be problems in getting business funding. A lender is most likely to disapprove of your business funding application if the credit scores are low and fail to meet the loan criteria.
For a business that needs funding or an entrepreneur looking to get the fund but bears a poor credit score, the problem can be unsettling unless you get tradelines for sale and purchase one.
What does it mean by tradelines for sale?
People who are new to understanding tradelines can find themselves in sheer mayhem where everything becomes too much to take in any more. Let’s start with understanding a tradeline.
Your credit card is your tradeline. Yes! Easy to understand, isn’t it? A tradeline is a term that the bank and reporting agencies use to define an account holder with a credit card.
Loans, outstanding payments, credit limit, and the way you maintain the credit card throughout is viewable in your credit history. It is in turn, used as a credit report that the bank sends to the credit reporting agencies like Experian, Equifax, and more that evaluates your credit score worth by using Fico or VantageScore.
The most commonly used is FICO by money lenders.
What to do in a case when the credit score is low? You need a loan, but the money lender agency denies because the credit history you bare is inadequate, making the moneylender suspicious of your business ethics. In another scenario, if your credit score is acceptable by the moneylender but not up to the mark, the moneylender will try to give you a loan on a high-interest rate.
On average, one can get a loan for 4% to 5%, if the credit card holder has a score of 750 or more. But if it is lower than that, the interest rate will increase and can go up to 7% to 9%. Evaluate your credit score, and if it’s inadequate, it is time that you buy a tradeline.
Tradelines for Sale:
Do you know that you can piggyback on another person’s tradeline? Yes, tradelines for sale means someone is ready to sell his tradeline to give you a spot on his account where you register as an authorized user. What’s the benefit? Your credit score improves as the credit limit of the tradeline you just bought shows on your account as well, which boosts the credit score, one step ahead for that loan approval you have been waiting for on low-interest rates.
How you can buy or sell a tradeline?
There are so many tradelines companies that allow you to register with them and start your tradeline business. If you are a seller, it’s an opportunity for you to make some extra dollars. You can sell your tradeline for a price set by the tradeline company.
How does it work? It’s simple, you have a good credit score, and you are thinking of selling a spot on your account to earn some dollars. You will open an account with a tradeline company. As and when a person comes to buy the tradeline, your tradeline company will pull up your tradeline for the offer. You receive the money after you add the person to your account.
Typically, the person will stay in your account for 2 to 3 months, after which you can remove the account.
Don’t worry, a tradeline buyer cannot mooch off your credit card limit. He/She cannot withdraw money or use your account in any way, as he has no control over the credit details of your account.
It is legal and safe where many banks allow to sell the tradeline up to two authorized users, whereas others don’t put restrictions on the number. It can also be that the bank may not allow selling tradelines, and if you do sell, your card can get canceled if the authorities come to know. Talk to your bank if need be before you open an account with them.
Top 4 Fascinating Tradeline Companies in the Market
To help you make your search simple, we give you a list of our favorite top four tradeline companies that are safe, secure, and in business for quite many years, assuring fruitful results.
- Credit Pro
Started in 2007 and standing strong over the years till now, Credit Pro is one such tradeline company that has the experience, expertise, and account holders that can help in boosting the credit score pretty quickly. Make a business out of your tradelines, or buy one to improve the credit score, the company offers best deals and affordable prices on tradelines for sale.
- Priority Tradelines
They offer valuable tradelines that bear excellent credit history. For a business owner looking for business funding on low-interest rates, getting a tradeline for sale from Priority Tradelines Company can assure you the highest possible FICO score within 30 days or less. That’s great for someone who is looking to get the business loan as quickly as possible.
They help in restoring credit scores, reducing interest rates, accessing personal loans, get mortgage approvals, and much more, which you can look up in their inventory. They are offering multiple services, making them one of a kind in the niche.
If you bear a good credit score, you might as well want to make a business out of selling tradelines. Priority Tradelines is that company where your search ends!
A company that holds a rank of B on Angie’s list with an average 5-star rating on Google Reviews should not slip away! BoostCredit101 is consistent in maintaining its streak.
It is not all, for customers to grow their business and learn the sale tactics, they are there to answer your queries round the clock. From gaining knowledge on their blogs to getting the help of the customer care executive, they are all in to make the customer step into this business without worry and confusion. For someone new to the tradeline business, BoostCredit101 is sure to pick!
- Tradeline Company Supply
A newcomer in the industry but with a success rate that assures promising results! Founded in 2017, the company has a fully automated system of buying and selling tradelines, making the job of the user a few clicks away. This Tradeline Supply company was the first one to have an entirely automated system for buying and selling tradelines. They are up and running smoothly in the market, and they bare excellent feedback from their customers. For someone who is looking to buy affordable tradelines, they are the right fit!
To speak precisely
The key lies in choosing the right tradeline company and learning the sale tactics that can benefit in the ways you intend. Seller or buyer, making a choice of tradeline platform is of utmost importance. Compare and see which platform suits your needs to make the right decision. Take your time so that you know you are doing the right thing.