Building Credit Tradelines
What is primary tradeline? A primary tradeline is an account that shows on your credit report as your account, versus being an authorized user’s account. It’s important to have a good mix of accounts on your credit report, including primary tradelines AND authorized user tradelines.
One of the best ways to improve your credit report is to offset negative items by injecting positive accounts. Often times our members are unable to do this easily because their credit score is so low that getting credit approvals is extremely hard. The good news is that there “credit card building” companies that exist for the sole purpose of helping people to rebuild their credit through certain very low cost revolving credit lines that are much easier to get approved for.
It’s important to have a good mix of accounts on your credit report, including primary tradelines AND authorized user tradelines.
Ideally you want to have at LEAST 3+ OPEN, POSITIVE accounts on your credit report, between primary tradelines and seasoned authorized user tradelines.
We recommend our clients to try and get at least the TOP 3 LISTED BELOW ASAP.
1. Online Jewelry Club
2. Credit Card Builder
3. Self Lender
1. Online Jewelry Club
Get a $5,000 unsecured primary tradeline on your credit report. This will be your account, in your name, and you are the primary account holder.
The purpose is to boost your credit score and help build a solid foundation for your credit.
The injection of an unsecured (meaning no collateral) $5,000 credit limit paired with super low utilization is bound to make your credit report stronger.
Easy approval even if you have bad credit.
Approvals are immediate.
HOW IT WORKS:
You place an order for at least $100 for one jewelry item from their website, and they will ship it to you. Select a low cost item of only $100 to keep your cost down. You will be required to pay for anything you order so don’t defeat the purpose by buying what you don’t need.
Once you get approved which is a quick process right on your order form, they will begin processing you for a $5,000 line of credit which will report on your credit. Read their FAQ’s for additional info.
Ensure you make the payments because they are reporting the usage and re-payment history.
You must be at least 18 years old and a U.S. Citizen.
Household income must reflect $1,400
Once this tradeline reflects on your credit report, for many people, the injection of the perfect positive account with $5,000 credit limit and super low utilization has a powerful impact spanning months into the future given the small payments are made on time.
This one reports to your credit report around the beginning of the month given you place your order by the 20th of the month.
More about how it works—->>HERE<<
2. Credit Card Builder
• This is a secured credit card in your name used for the sole purpose of helping you build your credit score.
• No minimum credit score required so there is 100% hope for you!
• The credit limit is low, but you have to start somewhere in order to establish and build your credit back up.
• They will allow you the option of getting two which is double the credit building opportunity.
More information about how this works —->>HERE<<
3. Self Lender
This one is way different from the others, but still a great choice especially for account diversification.
This is a CD (certificate of deposit) that reports to ALL THREE CREDIT BUREAUS, and you get the money back after it matures in one year.
There is a small origination fee (around $9 – $12) then small monthly payments after that based on how much you want the CD to report as.
Each payment is reported to the 3 credit bureaus (don’t screw this up!). At the end of the term, you’ve paid off the loan and you can get the money back + interest – hence saving money while boosting your credit.
NEW AND PAID TRADELINE ALERTS!
More info on how it works —->>HERE<<
4. CreditStrong
5. Oxpublishing.com
6. Hutton Chase
4. CreditStrong
This is a secured credit card in your name used for the sole purpose of helping you build your credit score.
No minimum credit score required so there is 100% hope for you!
The credit limit is low, but you have to start somewhere in order to establish and build your credit back up.
More information about how this works —->>HERE<<
5. Oxpublishing.com
This is a $2,500 secured line credit reported in your name (no credit card is mailed to you).
Typically this reports to Equifax only, this may change over time though.
There is a minimum purchase required in their online store, typically $180 purchase that you would financially so as 2018, it’s about $30 to get started, then finance the rest in monthly payments. [Note at time of this writing, this was the price.]
More information on how this works —–>>HERE<<
6. Hutton Chase
This is a secured credit line in your name for $1,500 that can be used only at their website.
Product purchase of $180 is required however only a $30 activation fee is due at time of purchase [Note at time of this writing, this was the price.]
More info on how this works —->>HERE<<