Re: Authorized user accounts stay on your credit for 7 years Has anyone had any luck with primary lines?
Re: Authorized user accounts stay on your credit for 7 years congrats...I guess you were lucky im still wating on a tradeline that i bought a year and a half ago but i have faith thatt some day out of nowhere its going to show on my credit report.
At BoostMyScore.NET we lease authorize user spots on credit cards for 60 days. Some of the cards stay on your credit report longer then others. If you purchase a Bank of America card from us, it will be removed off of your credit report within 60 to 90 days. The other cards we sell on our website (Citi Bank, Barclay, and Capital One) will remain on your credit report stagnant for years. These cards have more of a lasting effect. We have cards available that will report in a week or two, it all depends on which cards you chose on our website.
I have been a real estate investor for over thirty years.......recently dealt with the owner Cliff and had prior issues resolved with a client i sent to call credit pro.............part of the problem was the buyer who purchased trade lines from callcreditpro.com fell behind in paying two existing credit cards and the trade lines did not take effect immediately.........once they became current the two lines purchased from Cliff hit and the scores went up dramatically !!!!!!!!!!! went from low 600's to over 700........lesson learned; if you buy trade lines make sure you pay your existing bills.....I am now a callcreditpro.com fan!!! BIG TIME
Hello eddit, please keep us posted on this. I'm very interested in getting a tradeline and can't decide which website I want to use.
Please check out our website at BoostMyScore.NET if you are interested in purchasing some authorized user accounts. When you purchase a card from us you lease a spot on a card for 60 days. To determine which card(s) would be work best for you, we would need to find out about your current credit situation and what your goals are. We guarantee that our cards will appear on your credit report in less than 60 days, or we will give you all your money back. Typically they will appear in less than 30 days; most of the time it takes just a week or two. We also guarantee that the cards will remain on the your credit report for the 60 day lease period. Some of the cards will actually stay on your credit report after we remove you as an authorized user. Please contact me with directly with any questions. Thanks! Heather with BoostMyScore.NET
Re: Authorized user accounts stay on your credit for 7 years One of the ways to have a seasoned primary account report to your credit is to add someone as a cosigner. This is a lot of risk for the primary cardholder. The new co signer has all the same benefits as the primary cardholder except they cannot have the primary cardholder removed from the card. Unless you can find a trusted family member or friend this is pretty difficult. Another way to way to add a seasoned primary accounts to your credit is to switch out the client information from an account that is still open but paid off from a jewelry store. Companies that do this are committing bank fraud. I personally would just stay away from primary accounts. Thanks! Heather with BoostMyScore.NET
Re: Authorized user accounts stay on your credit for 7 years I bought one tradeline from Roe at Call Credit Pro, it took a while for it to hit but it added 84 months of positive payment history to my report and generated a score when I did not have a score at all. I had less than six month of credit history, thanks a milion, it helped me get my loan orginators license. In Texas you can get denied for a loan license if you don't have a credit score so it saved my life getting my AU tradeline from Roe, Cliff was really helpful too. Thanks guys. Caimen
Yes, it will most likely drop your scores. How much would depend on a lot of other factors and how much you've built up your credit history in the interim.
Thanks for the info. Sounds like something I might try 60 days before looking for a mortgage. ---If I need the extra boost.
Most places you purchase authorized user accounts from will add you to the cards for a 60 day lease periods or less. Each credit card only allows a specific number of AU at one time. So, they are always adding and removing clients. I would purchase a card for it to report closer to the time when you ready to go through the underwriting process. A lot of lenders are also checking credit right before the loan closes as well. Thanks! Heather with BoostMyScore.NET
I would also like to add that authorized user tradelines often times come a "special note" attached to them once they hit your credit file. The note reads "authorized user alert" Authorized users tradelines are not a true reflection of credit worthiness" Also many companies will remove you from the account within 30 days and tell you that the lines will continue to report for another 3 months to a year, BUT this is only partially true. Yes the tradelines may continue to report on your credit monitoring account, BUT on a more detailed report (like the one's lenders look at) it will say responsibility terminated! (which is just like having a closed account) Most lenders want you to have atleast 2-3 OPEN seasoned accounts at the close of escrow. It is possible to transfer ownership / liability of an account to another party and become the primary account holder, but you would have to have a really strong credit file with primary tradelines to do so. (if you fit that description then you probably wouldn't need to purchase an account tho right?) Your last option would be to find a company willing to allow you to lease an authorized user tradeline as long as you need to. This could become expensive (around $100 per month) but it's the only way to ensure that you have open seasoned accounts when you need them the most. MyCreditMiracle.com
I work for a company that sells authorized user accounts and I have never heard of a "special note" attached to the authorized user accounts. If companies choose not to included or consider the authorized user account into the credit scoring model when it is for lending purposes, they are violating Schedule B of the Fair Credit Act. I have looked at many lender credit reports and the only time an authorized user account that was terminated is when they have been removed from the card as an authorized user. To become a primary card holder with someone, that person must know you and trust you to add you as a co-signer on the card. It would be too much risk for the primary cardholder other wise. As a co signer you have all the same benefits as the primary cardholder except for removing that person from the card. We do not sell primary account only authorized user account because there is too much risk for our cardholders. Thanks! Heather with BoostMyScore.NET
Be very careful when buying trade lines...I purchased a steele tradeline package from toptradelines.com and was promised that my credit would go up. Not only did it not go up it actually went down.....they added me to a citicard that had a limit of $6500 and was established 4 years ago.....the only problem was that not only was it maxed out, it had a balance of $6526. The next account that they posted was a Barclays card that was only open for 11 months...needless to say this was pointless....The third card never posted. I tried calling them and was given the runaround....I waited almost four months for this garbage and was told that they didnt issue refunds only offered to replace the line that didnt post. I asked them about the other two lines that were a waste of money and they said they only can guarantee that the account will post.....they offered to replace the line that did not post.....I called another tradeline company and explained my situation...they had told me that they got a lot of complaints on this company and it was a former company called tradeliner that had even more complaints...they just opened a new name but have all the same people...I read the reviews on tradeliner on tradelinereviews and was shocked to see all the complaints.....The person at the new tradeline company recommended I send the creidit bureaus a letter and asked to have the accounts deleted since I was only an authorized user......I wont mention the new company but he was very nice and offered to give me a discount on one of his packages....I just got to save the money now and do better research into the future company I do business with....
