How to Improve Credit Fast With Tradelines

Consumers can have a difficult time understanding the internal mechanics of credit reports. Many people assume that credit scores are stable and do not fluctuate unless major events such as large purchases or delinquencies occur. However, credit scores fluctuate in a major way on almost a daily basis. Knowing the secrets about how credit scores work and how to improve suffering scores with seasoned trade lines can help consumers get better terms, interest rates and qualifying ratios for any type of loan or line of credit.

Instructions

1

Order a copy of your most recent credit report by visiting any of the big three credit bureau websites like Equifax, Experian or Transunion. Ordering directly from any of the big three credit bureaus will cost a small fee and adding your credit score will also come at an additional fee. You can obtain a copy of your free credit report once per year by visiting annualcreditreport.com.

2

Evaluate your reports and scores once credit reports arrive. Make sure that all accounts are reported correctly. Items typically reported on credit histories are mortgage payments, car payments, student loan payments, major credit cards, personal loans or store cards. If inaccuracies appear, fill out a dispute form and prepare to send that in along with the documentation you will gather for seasoned trade lines.

3

Gather documentation on trade lines available to you. A trade line is typically a traditional or non-traditional source of credit. This could be an account that you are co-borrower or authorized signature holder on, such as a credit card or personal loan. Typically, parents will add children to their accounts as an authorized signer. Even utility bill payments can be added as a positive trade line to be added to a credit report.

4

Contact each creditor for each individual trade line. Request that they send in documentation to the credit bureaus on each trade line. Provide the creditor the information proving you are a user on the account, in order to validate your personal information. If the creditor does not want to do this, ask that they mail you a 12-month payment history, which you can send into the credit bureaus yourself along with any dispute forms for inaccurate information.

5

Re-order copies of all credit reports 30 days after having the requested trade lines added to your credit report. These new reports should reflect the trade lines being added to your credit history. At this point you will see a significant jump in your credit score. The increase could be as high as 75 points for a single seasoned trade line account.