Elizabeth Warren’s proposal to cancel student debt will soon be one step closer to reality — even if she doesn’t become president. The Democratic Senator of Massachusetts plans to introduce legislation in the coming weeks that mirrors her presidential campaign … Continue reading →
Read more: creditandcollectionnews.com
While the credit system is definitely complicated, buying tradelines doesn’t have to be. Just keep a few basic principles in mind and follow these five steps to make buying tradelines easy!
Here are the five easy steps that we’ll break down in this article:
Understand your credit profile
Determine your goals
Choose tradelines that fit your credit profile and align with your goals
Order your tradelines
Wait for your tradelines to post!
1. Understand your credit profile
Understanding your credit file is the foundation of improving your credit. If you don’t know what’s in your file and blindly move ahead with tradelines and/or credit repair, you could easily make a mistake that could hurt your credit more than it helps.
Your credit report shows a list of all of your tradelines, and how you manage these tradelines is reflected in your credit score.
We’ve written about everything you need to know about credit scores previously, but to summarize, these are the main factors that affect your credit score:
Payment history: 35%
Utilization (how much you owe): 30%
Length of credit history: 15%
Credit mix: 10%
New credit: 10%
Before buying any tradelines, you’ll want to take a good look at your credit profile on CreditKarma.com (or order one of your three free credit reports allowed each year from annualcreditreport.com) and make sure everything is accurate and up to date.
You can get an overview of your credit profile for free on CreditKarma.com.
If there is inaccurate information in your credit profile, you may want to look into credit repair in addition to tradelines.
Examine each of your credit accounts and try to understand how it may be affecting your credit score, whether positively or negatively.
This foundational step will allow you to form a clear picture of your unique credit situation so you can choose the smartest path to move forward.
2. Determine your goals
Consider these five main factors that affect your credit score when setting your goals.
Now that you are aware of what is in your credit profile, ask yourself what variables could be improved and which strategies would be a good investment of your time, effort, and money.
For example, if you have a blemished payment history that is bringing down your score, you could balance that out by adding as much positive payment history as possible with a seasoned tradeline.
If your credit age is not old enough, you may want to increase the age of your oldest account and your average age of accounts by adding a tradeline with a lot of age.
Perhaps you have a thin file or your credit mix is unbalanced, and you just want to add more tradelines to your credit file.
These are just a few examples of common goals that people often have when they are looking to add tradelines to their credit report. Make sure your goals are personalized to your unique credit situation.
3. Choose tradelines that fit your credit profile and align with your goals
Choosing the correct tradeline tends to be the trickiest part of this process. However, there are really only two main variables that you need to consider when selecting tradelines: the age of the card and the credit limit.
The tricky part is that people often incorrectly assume that they should just get the highest credit limit. In reality, this approach could actually backfire and hurt your credit, because the age of the tradeline is much more important in the vast majority of cases.
However, the credit limit does still come into play if utilization is a factor you are concerned about.
To account for both credit age and utilization, you’ll want to calculate your own average age of accounts and overall utilization ratio using our custom Tradeline Calculator. Simply input the numbers from your credit profile and the calculator will do the work for you.
Use our Tradeline Calculator to calculate your average age of accounts and utilization ratio.
Then, try plugging in information from some of the tradelines you are interested in purchasing and see how the numbers change. To get the maximum benefit from tradelines, you want to see the average age of accounts jump up at least to the next age level.
Based on our research, we estimate that the age levels to shoot for are 2 years, 5 years, 8 years, 10 years, and 20 years. So if your average age of accounts is 3 years, for example, it is probably a good idea to buy a tradeline that will boost that average to at least 5 years.
It’s important to fully think through your decision instead of just buying a tradeline that “seems” like a good choice.
For more guidance on choosing the best tradelines for your goals, we strongly encourage you to read “How to Choose a Tradeline” and “Common Mistakes Made When Buying Tradelines.”
4. Order your tradelines
Add tradelines to your cart and checkout on our secure site.
Once you have identified the best tradelines for you, simply add them to your cart and check out on our secure website!
To ensure that all goes smoothly with your purchase and that your tradelines post as guaranteed, you need to make sure you do not have any credit freezes or fraud alerts with any of the credit bureaus.
These actions block access to your credit report, so no new tradelines can be added. If you do have a credit freeze or fraud alert, contact each credit bureau to remove it before purchasing tradelines.
For detailed instructions on how to place a tradeline order, see “How to Purchase Tradelines and What to Expect.”
5. Wait for your tradelines to post!
The last step is the easiest of all: sit back and wait for your tradelines to post! Once you receive your confirmation email, simply wait until the last day of each tradeline’s reporting period and then check to verify that the tradelines have posted.
Then, celebrate your new tradelines on social media! Don’t forget to tag us @tradelinesupply and use #tradelinesupply so we can find your post!
Share this image on social media and tag us when your tradelines post!
The banks and credit bureaus sometimes have errors in their reporting, so, unfortunately, there is a small chance that a non-posting could occur. However, if a tradeline does not post to at least any two out of the three credit bureaus, we will provide a refund or exchange for that tradeline. Simply follow the instructions detailed in “Report a Non-Posting” to submit your refund request.
6. Extra credit: Become a tradeline expert using the resources in our Knowledge Center!
The more you learn about tradelines, the more informed you will be when it’s time to buy. Those who are educated on the credit system and how tradelines work are in the best position to maximize their results from tradelines.
Check out our extensive library of tradeline resources in our Knowledge Center to become a tradeline expert and a highly informed buyer.
Read more: tradelinesupply.com
The student loan debt crisis in America continues to get uglier. According to a new LendEDU study, 32% of consumers filing for Chapter 7 bankruptcy carry student loan debt. Of that group, student loan debt comprised 49% of their total … Continue reading →
Read more: creditandcollectionnews.com
Amazon needs more shoppers, so it’s giving people another way to pay. This week, Amazon announced Amazon Credit Builder, a special credit card for US customers who need to build (or rebuild) their credit history. It’s available to US residents … Continue reading →
Read more: creditandcollectionnews.com
When searching for seasoned authorized user tradelines, you’ll probably see a lot of companies promising “wholesale tradelines.”
What does it mean if a company offers “wholesale tradelines?” If a tradeline company says they have wholesale tradelines, does that mean they have the best tradeline prices? Or is this term more of a marketing gimmick than a useful indicator of a tradeline company’s pricing?
Keep reading for our perspective on the topic of wholesale tradelines.
What Is the Definition of Wholesale Tradelines?
To begin, let’s define the word “wholesale.” If something is described as wholesale, that typically means it is being sold in large quantities to be resold by others, such as retailers. In other words, it is usually not sold to the end consumer.
Therefore, “wholesale tradelines” would seem to mean tradelines that are not sold directly to consumers, but to other people or businesses who then resell the tradelines to the end consumers.
However, in reality, many companies simply use this buzzword as a substitute for the word “cheap,” which is not only inaccurate but often intentionally misleading.
Marketing Tactics Used Within the Tradeline Industry
If you look at the prices of the companies boasting wholesale tradelines, what do you notice? Do they really have better prices?
Most of the time, the prices are on par with what you might expect from any other tradeline company.
However, if you are a tradeline broker, they may try to entice you with a broker “discount” of up to 50%.
Although you may see companies offering 50% off tradelines, it’s important to determine your bottom line dollar amount.
That 50% off sounds appealing until you consider the fact that even with the 50% off discount applied, those tradelines might still be more expensive than tradelines of the same quality at a company that has truly fair pricing to begin with.
For example, we often see competitors selling tradelines for $1,500 while our normal price for that same tradeline is around $600. Then, if you buy into the 50% off program you would then get that tradeline for $750. In this case, our regular pricing is still cheaper, even without a discount.
So would you rather go for the 50% off deal for $750 or just buy from us at $600? Additionally, if you are a broker at the 30% off level with us, you would get that same tradeline for $420.
In this example, our pricing is actually 72% lower than the competition’s pricing, but we don’t need to use that style of advertising when we know our pricing is lower than most other companies in the first place.
Tradeline Broker Programs
While many tradeline companies do offer tradeline reseller discount programs, these programs are typically quite expensive to join. We have seen fees ranging from $499 to nearly $3,000 to join these broker programs.
If you have to pay that much money in order to get a discount on your tradeline orders, then what are you really gaining?
In contrast, at Tradeline Supply Company, LLC, it is completely free to be a broker representative and even to join our White Label broker program. Our brokers get discounts of up to 30% off all tradeline orders depending on their sales volume.
Our prices are already some of the lowest in the industry, and with an extra 30% off on top of that, our pricing should be very difficult to beat, despite any “wholesale” advertising gimmicks other companies may try to offer. In fact, our margins are very slim at this level of discount which goes to show that our prices are as low as we can possibly make them.
Plus, even customers who are not tradeline resellers can use our package deal discount to save up to 30% on tradeline packages.
While other tradeline companies may offer discounts that seem bigger at first glance, their prices also often start much higher. Our lower starting prices mean our customers and brokers get the best value for their money, especially considering that our prices include a money-back posting guarantee. That’s why we don’t need to use gimmicks or deceptive tactics to market our tradelines.
Conclusions on Wholesale Tradelines
If you are looking to buy tradelines wholesale, you really need to look carefully at what your final price will be so you can compare apples to apples. For example, when you see the 50% off sale at the high-priced retailer at the mall, you often realize that it is still more expensive than purchasing the same item for at a discount store or on the internet.
Additionally, imagine how you would feel if you bought into a “discount” program that cost you thousands of dollars and then you find out that the company decided to increase their prices to offset that discount. All of that money would have essentially been wasted.
It is important to be able to see past the marketing claims and flashy discount programs. Make sure to think through your tradeline purchase, compare bottom line prices, and do the math for yourself to make sure you are getting the best deal possible.
Read more: tradelinesupply.com
In the latest sign of concern about the trajectory of the U.S. economy, two large credit card issuers signaled greater caution Tuesday about their willingness to make borrowing capacity available to consumers. The comments by the CEOs of Capital One … Continue reading →
Read more: creditandcollectionnews.com
Nelnet – or the National Education Loan Network – is a Nebraska-based student loan company which services roughly 20% of all student loan payments funded through the Department of Education.
But you’re not here to find out random facts about them. You’re here to find out how to remove Nelnet collections or late payments from your credit report.
How to Deal with Nelnet on the Phone
The first thing they’ll do is call you. This is because phone calls aren’t often recorded so there’s usually no proof if they use unethical tactics to make you repay your student loan debt.
So the first thing you should do is tell them that you’re aware of your rights under the Fair Debt Collection Practices Act so they don’t call you at work or wildly inappropriate times (such as the middle of the night). Essentially, the Act says they’re not allowed to harass you so it benefits you to let them know that you’re aware of that.
Your next move should be to tell them that you want to continue the dialogue via mail. The reason for this is that you want them to be in a position where you have proof of every single interaction with them. Sure, you could record your phone calls – but mail (whether electronic or physical) remains the simplest and most effective way to collect evidence on them.
How to Deal with Nelnet via Mail
Next, send them an email or letter requesting that they send you a debt validation report. Ideally, you’d do this right after their call: You only have 30 days from the their initial contact in which to do this.
If you don’t know how to get started with that, check out this debt validation letter template.
Once they receive your request, they’ll have to waste time finding proof of your debt. If you’re lucky they won’t be able to find it and they’ll have to remove the collection or late payment from your credit report.
If this didn’t work, you still have other options.
Offer to Pay Off Some of the Debt
One technique you can try is to offer to pay off some of the debt if they agree to remove the collection (or late payment) from you credit report. When using this technique, make sure you get everything in writing before writing them a check. That’s another thing to remember: never give them access to your bank account, but rather, write a check.
Hire a Professional
If offering to pay some of it back doesn’t work, it might be time to hire a professional who knows how to remove Nelnet collections from your credit report.
I suggest contacting Lexington Law Credit Repair to see if they can help. They’ve helped me and my readers, so maybe they can help you. Give them a call at 1-844-764-9809 or Check out their website.
The post How to Remove Nelnet Collections From Your Credit Report appeared first on Better Credit Blog | Credit Help For Bad Credit.
Read more: bettercreditblog.org
A California debt collection law firm has hired one of the appellate bar’s biggest names to handle its Supreme Court challenge of the Consumer Financial Protection Bureau’s constitutionality. Kannon Shanmugam of Paul Weiss Rifkind Wharton & Garrison LLP will lead … Continue reading →
Read more: creditandcollectionnews.com
Amazon AMZN opened Monday up over 4% after announcing its new “Amazon Store Card Credit Builder.” Partnered with Synchrony Bank SYF, the card will be marketed to those with low credit scores who would have a hard time getting a … Continue reading →
Read more: creditandcollectionnews.com
The financial services industry often scores victories when it lobbies on issues that are far removed from the daily lives of most Americans. But on Thursday, in objecting to an idea that resonates deeply with the public, the industry found … Continue reading →
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