{"id":10933,"date":"2020-07-13T10:00:10","date_gmt":"2020-07-13T10:00:10","guid":{"rendered":"https:\/\/coasttradeline.wpengine.com\/?p=10933"},"modified":"2023-05-01T04:02:24","modified_gmt":"2023-05-01T04:02:24","slug":"6-myths-facts-tradeline-doubters-dont-want-you-to-uncover","status":"publish","type":"post","link":"https:\/\/demo.10g8.com\/coast-tradelines\/6-myths-facts-tradeline-doubters-dont-want-you-to-uncover\/","title":{"rendered":"6 Myths & Facts Tradeline Doubters Don\u2019t Want You to Uncover"},"content":{"rendered":"\n

You have to be careful what you believe in regards to anything you deal with, but when it comes to financial topics, you need to be extra careful. There\u2019s a lot of information that gets passed around, and some of it just isn\u2019t right. If you\u2019ve never heard of tradelines, you might be trying to learn more, and could uncover some common myths. At Coast Tradelines, we\u2019ve got the facts to bust those myths so you can get the real information you need to make an informed decision. The following are six common tradeline myths<\/a> we\u2019ve heard, as well as the facts that show they\u2019re not true.<\/p>\n\n\n\n

Myth #1: If You Participate in Tradelines, You\u2019re Committing a Crime<\/strong><\/h5>\n\n\n\n

If you\u2019ve stayed away from purchasing tradelines because you\u2019re an upstanding citizen, you may be surprised to learn tradelines aren\u2019t illegal at all. Credit discrimination is prevented through the Equal Credit Opportunity Act, so although FICO tried to eliminate benefits for tradeline users over a decade ago, they have since reversed their decision. This means there is no criminal activity involved when you purchase a tradeline. In fact, Congress is in support of the system and protects consumers who use tradelines. You\u2019ll also find certain banks that will encourage you to boost your credit score<\/a> through authorized user tradelines.<\/p>\n\n\n\n

Myth #2: It\u2019s Unethical to Purchase or Sell Tradelines<\/strong><\/h5>\n\n\n\n

Purchasing tradelines is simply a way for you to boost your credit score. There are individuals all over the country who do this by other means every day. Have you ever heard of someone taking out a new line of credit to establish a deeper history? How about asking for debt forgiveness from a particular loan? Does anyone you know pay down their card balances so as to keep a low utilization ratio? These are all hacks people use to improve their credit scores, making tradelines no more unethical than any other method of credit boosting.<\/p>\n\n\n\n

Selling tradelines<\/a> is also not unethical in any way. It\u2019s a way for someone who is responsible with his or her credit lines to help another individual, while getting a little payment in return. The world could use a little more kindness, so the individuals who sell tradelines are really helping to make a difference to those who may have hit a stumbling block along the way. There\u2019s nothing unethical about that.<\/p>\n\n\n\n

Myth #3: Purchasing Tradelines Is Going to Get Expensive<\/strong><\/h5>\n\n\n\n

If you look back in history, you\u2019ll see that only the wealthy were able to afford tradelines because they were priced quite high. While that may be a part of our history, we no longer have to worry about the high costs. Coast Tradelines is a leader in the industry, with options for authorized user tradelines almost anyone can afford. There are hundreds of tradelines available, and most of them don\u2019t run more than a few hundred dollars. As you can see, tradelines are not just for the wealthy anymore. If you\u2019re short on cash, but need to improve your credit, a quick yard sale could earn you the money you need to purchase a tradeline.<\/p>\n\n\n\n

Myth #4: You Can\u2019t Purchase Tradelines That Are Past a Certain Age<\/strong><\/h5>\n\n\n\n

There are some who believe you can\u2019t purchase a tradeline if it is a certain age. This is typically related to the buyer being younger than age 18 when the credit line was open. Fortunately, if there\u2019s a tradeline you really want to purchase, but it was opened before your 18th<\/sup> birthday, you can still purchase it and it won\u2019t make a difference. There are a lot of parents who add their minor children as authorized users on credit card accounts, so this shouldn\u2019t be a problem that anyone would look at and question.<\/p>\n\n\n\n

Myth #5: Tradelines Are a Waste of Money<\/strong><\/h5>\n\n\n\n

Anything you pay for that doesn\u2019t end up working is going to be a waste of money, but tradelines do work<\/a>, so this isn\u2019t something to worry about. These types of tradeline myths can be traced back to that same controversial issue with FICO in 2008. Buyers began to assume that FICO would be able to discriminate against those with \u201cartificial\u201d tradelines, but as was previously mentioned, FICO did have to reverse their action. This means authorized user tradelines will remain a great use of money for someone who needs help with a credit score.<\/p>\n\n\n\n

Myth #6: You Can Use Tradelines in Place of Credit Repair<\/strong><\/h5>\n\n\n\n

Don\u2019t make the mistake of purchasing tradelines but failing to repair your credit. A tradeline takes positive information and includes it in your credit<\/a> report. Credit repair<\/a> takes negative information off of your credit report. As you can see, they are two different actions. While tradelines will improve your credit score, that bad credit will still be there. If there are errors on your report, you\u2019ll need to work toward repairing those, which is something you can do in conjunction with AU tradelines<\/a>.<\/p>\n\n\n\n

Learning More From Tradeline Professionals<\/strong><\/h5>\n\n\n\n

As you can see, there\u2019s a lot to tradelines that people simply don\u2019t understand. If you\u2019re interested in learning more tradeline facts, get in touch<\/a> with one of the tradeline professionals at Coast Tradelines today.<\/p>\n","protected":false},"excerpt":{"rendered":"

You have to be careful what you believe in regards to anything you deal with, but when it comes to financial topics, you need to be extra careful. There\u2019s a lot of information that gets passed around, and some of it just isn\u2019t right. If you\u2019ve never heard of tradelines, you might be trying to […]<\/p>\n","protected":false},"author":3,"featured_media":10934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/posts\/10933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/comments?post=10933"}],"version-history":[{"count":0,"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/posts\/10933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/media\/10934"}],"wp:attachment":[{"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/media?parent=10933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/categories?post=10933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.10g8.com\/coast-tradelines\/wp-json\/wp\/v2\/tags?post=10933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}