Authorized User Tradelines What Are They?
Authorized User Tradelines has been a favored method used by Parents, Mortgage Brokers, Real Estate Agents and others to Build Credit & Raise Credit Scores Fast.
So When the Fair Isaac Corporation (FICO) announced years ago they were rolling out a new credit scoring model that wouldn’t recognize authorized user tradelines, an uproar ensued. This method is also included in our article tips to raise credit score
Authorized user tradelines have been a way to give individuals access to credit accounts without being responsible for the payments or having to qualify for the accounts.
The Fair Issac Co (FICO) has estimated that 55 million consumers are authorized users on someone else’s account.
FICO wanted to Stop Authorized User Tradelines
FICO wanted to stop including authorized users accounts in it’s scoring. Seeing that some authorized users don’t actually get use of the credit accounts, however, they get the benefits of the primary account holder’s credit history.
However, FICO 08 could not eliminate authorized users accounts from impacting the authorized user’s credit scores. Lenders complained that using FICO 08 without factoring in authorized users credit would inhibit compliance with Federal Reserve Regulation. WE know it would also limit the amount of loans approved 😉
Also If authorized user tradelines benefits were abolished it would have prohibited lenders from complying with the Equal Credit Opportunity Act of 1974.
Authorized User Tradelines Still Work!
CEO Of FICO recommends our authorized user tradelines method to Raise Your Credit Scores FAST!
It only made sense for FICO 8 to continue authorized users credit or “piggyback credit” because every generation of the FICO score formula has included authorized user credit card accounts when calculating a person’s score. FICO 8 score continues that policy.
Authorized user tradelines continue to benefit consumers with shared management of a credit card account. It also helps lenders by providing scores that are based on a full picture of the consumer’s credit history.
Using Authorized User tradelines
The Best & Fastest Way to Build Credit and Raise Credit Scores.
When you are to an account that has a good payment history, your score will get an immediate boost. This will help you establish your own credit history FAST and raise your credit scores, provided that the primary card holder has good payment history and low or no debt.
How it helps is that the payment history for the card and the card limit will be reported on your credit report. As soon it reported on your files you get an increase in your scores.
Our lines have Perfect Payment Histories, No balance or balances below 10%.
Limits of $2,500 – $44,000 & Open 1yrs – 35yrs