Buying Primary Tradelines – What You Need To Know

A primary tradeline is a credit account that the account holder has in his name. You can open a free primary tradeline or buy authorized user tradelines to boost your credit report. You can legitimately purchase authorized user tradelines. However, buying a primary tradeline is illegal.

What Are Primary Tradelines?

A primary tradeline is a credit account opened under its own name. For example, you have a primary tradeline if you have a credit card, mortgage, or auto loan. If you own a primary tradeline, you need to make payments on time and keep it in good standing. A primary tradeline is considered ”seasoned” if you have had it for a long time. A long-time ”seasoned” account can boost your credit score. 

As the owner of a primary tradeline account, you can add an authorized user to your account. It allows the authorized user to use your card to make purchases. In addition, it can improve the credit score of the authorized user if you have a positive payment history. Besides, all your activity will show up on the authorized credit card report.

If you wish to boost someone else’s credit report, you can add an authorized user to the tradeline because it is considered a legitimate way to increase another’s credit report. Furthermore, you can also buy a tradeline from a tradeline company if you do not know someone with a seasoned tradeline. Finally, it is to note that there are no state or federal laws to prohibit the selling and buying of authorized user tradelines.

Are Primary Tradelines Legal?

Owning a primary tradeline under your name is perfectly legal. It is done all the time when people open a new credit card, take a mortgage, or get a car loan. But, if you try to buy a primary tradeline that does not belong to you will create potential issues.

The Pros and Cons of Primary Tradelines

You will undoubtedly have many benefits from buying primary tradelines. But the cons of purchasing a primary tradeline outweigh the advantages that are not worth the risk. Therefore it is not recommended to buy primary tradelines. Instead, let us check on some of the advantages that an authorized user tradeline can provide:

Pros of Primary Tradelines

• Boost the credit score: If you have a tradeline as an authorized user, your credit card will get a temporary boost, and this boost will help you qualify for a loan or a credit card.

• A Better Interest Rate: A tradeline can improve your credit score and help you to open a large credit account like a mortgage. This, in turn, will help you to get qualified for a lower rate of interest. As a result, you can save thousands over the mortgage. 

• Further your Career: If you are looking for a job in a competitive market, buying a trainline can help. It is because some employers check your credit before they hire you. Therefore, you will be rejected if you do not have a good credit check. A tradeline, in this case, will help you get an opportunity to land this type of job.
• Help in Getting an Apartment: Most landlords check the credit to find if the tenant is responsible. They will check on the credit before agreeing to give you a lease. You can make your credit look more seasoned, in this case, by buying a tradeline.

Cons of Primary Tradelines

• No Access to Credit: Even if you are an authorized user of the credit, you do not get access to the account to make any purchases. Therefore, buying a tradeline will not give you access to the credit.
• Temporary Solution: A tradeline does not boost your credit in the long run. Therefore, you enjoy a short-term benefit. It might stay for two to six months on your credit report, but some might appear longer.
• Creditors frown on Tradelines: All the creditors do not approve of the credit report because they know that people buy tradelines as an authorized user. The creditor can suspect that you have purchased the access instead of building your own credit if your credit does not match the rest of the report.
• Vulnerable to Fraud: All companies that sell the tradelines are not reputable. Therefore, it is strongly recommended that you need to do thorough research on a tradeline company before buying a tradeline.

How to create primary tradelines?

Primary tradelines are created on the credit report, and the primary account holder is responsible. Each credit that the account holder receives is the primary tradelines. The lines of credit such as credit cards, auto loans, mortgages are primary for the primary borrowers. A primary tradeline cannot be purchased and added to the credit report.

How to Add Primary Tradelines to Your Credit Report?

Let us know how to get primary tradelines:

• Open an account: You can legally add a primary tradeline to your credit report by opening a credit account in your name. 
• Pay Bill on Time: After you have opened a credit account, be consistent in paying the monthly bill on time. This way, you can create a healthy credit score. 
• Buy a tradeline: You can also choose to buy a tradeline as an authorized user. Buying a tradeline as an authorized user will help you boost your credit score temporarily. But do not be surprised if it stays only for two to six months because they are meant to stay on your credit report only for a short time.

But remember to research the company where you wish to buy a tradeline as many companies claim to sell primary tradelines but are frauds. If you buy a tradeline through fraud, you will break the law and face severe consequences.

How Much Do Primary Tradelines Cost?

The cost of a primary tradeline entirely depends on what means you acquire the tradeline. For example, you can receive a primary tradeline by financing a car, opening a credit card, or taking a mortgage. 

If you choose to buy a tradeline as an authorized user, its cost will depend on various factors. The cost of a tradeline will rely on the credit limit, the age of the account, and the account’s balance. The seasoned tradelines are considered the best. A seasoned tradeline means the account has a positive payment history. You can find tradelines as low as $100 or as high as $5,000 and costlier.

Tips for Avoiding Fraudulent Tradelines

If you have a legitimate company that offers legal trade lines, you will also find a company that exists to scam you. If you are looking for a tradeline in the market, make sure to research thoroughly and know what to look for in the tradeline companies when it comes to reputable and scam tradeline companies. Let us know how you can check to avoid fraudulent tradelines:

• Understand Common tradeline that companies offers: A primary tradeline cannot be sold, and the law prohibits it. Ask the company what kind of tradeline they offer to sell. Only authorized user tradelines are offered to sell by reputable tradeline companies. 
• Read the reviews: It is not wise to buy a tradeline without checking out the tradeline company’s reviews. In addition, you can check on the other customers’ reviews on the third-party sites to find if they had a positive experience.
• Understand what you are buying: You might make serious mistakes if you lack the knowledge of what you are buying. Understand that you are renting other people’s good credit as an authorized user tradeline. Know that it is a temporary fix to your credit report and will not remain for an extended period. If you wish to increase your credit score for the long term, you must practice good credit habits.
• Buy from a reputable tradeline company: Buy your tradeline from a reputable tradeline company so that you do not fall under any fraudulent company.

FAQs

Can I purchase primary tradelines?

You cannot buy Primary tradelines, but you get them free when you open a credit account under your name. Besides, only authorized user tradelines can be purchased.

What are examples of primary tradelines?

When you open a new credit card, get a car loan or take a mortgage, you own a primary tradeline.

Conclusion

If you need to improve your credit score for temporary use, you can buy authorized user tradelines. Unfortunately, primary tradelines are nearly impossible for any reputable company to sell primary tradelines. But you can legally buy an authorized user tradeline to improve your credit score that lasts for two to six months.