Category: Credit

Credit score means a lot in today’s world. This three-digit number can affect your life and your financial posture, especially when it comes to applying for credit cards or borrowing money for a car loan, home mortgage or even a retail account. Whenever you are applying for any type of a credit, the first thing a lender will check is your credit rating to estimate your future ability to pay. Based on this information, your application will either get approved or denied.

When your credit application gets approved, you will be required to pay a finance charge, or interest, in addition to the borrowed amount. You will also be required to make a minimum payment each month to repay the balance. Bottom line, the amount of money you are allowed to borrow and the amount [...]

If you are looking for a solid way to boost your credit rating and get a better deal on your next credit card, mortgage or business loan, take a look at tradelines. Adding tradelines for credit is a process of adding accounts to your credit report in order to enhance your credit rating. Sounds simple, but not all tradelines are made equal.

Try adding a seasoned tradeline, or a line of credit with a low debt-to-credit ratio and a solid history of on-time payments. Once the tradeline hits your credit file, you’ll see an immediate adjustment of your credit score, be it FICO® or Vantage. Most of the lenders use FICO® score which is made up of 40% revolving credit accounts where the credit limit is set by the lender. [...]