A good credit score helps you get a loan from the bank and other companies for a car or a house. Sometimes, it’s challenging to maintain a good report due to some financial issues and delay paying monthly installments. There are always some options for making your score or report better and stable.
Buying tradelines to boost credit scores is always the right and appropriate option, but there is some confusion about how this works, indicates coasttradelines.com. There are primary and seasoned cost tradelines and both are two different terms in terms of the ownership of the credit card. One must understand the difference between these two distinct and essential terms to purchase tradelines.
What Is a Primary Tradeline?
It’s a credit account associated with your name and ownership, and the creditor provides you money to borrow something in your name. This account is termed as primary tradelines, and it’s purely related to your privacy in terms of transactions
You can get mortgages, loans for a car, house, and other things by utilizing your primary tradeline as your account.
Specifications:
- Ownership
- Security and Privacy
- Chance to get a loan for a car and house
- Easily manageable
- Open from any bank on your name.
It’s imperative to know about the primary au tradelines before buying tradelines for boosting your score.
What is an Authorized User (AU) Tradeline?
Authorized User tradeline is also called piggybacking, and it’s the account added to the primary tradeline account. It acts as a linker between the primary account holder and the new temporary account holder. It is used to boost credit score, and it uses the payment history of the primary account holder for gaining loans or mortgages for the bank and the other loan companies.
One can use this tradeline if it has bad credit and due to some financial issues. By utilizing the Authorized User tradeline, one can use the existing stable account’s transaction history, having a high score. The term seasoned tradelines are also used for the Authorized user due to temporary ownership of the account. The more average age of tradeline is beneficial to boost your report and transaction history.
Specifications:
- Secrecy and Privacy
- Boosting your Credit Score
- Saves from defaulter account
- The only association with Transaction history
Addition of Primary Tradelines
It’s easy and straightforward to add primary tradelines to your credit card by opening an account in the bank in your name and keeping a good record to gain various mortgages and loans from the bank. It’s your primary account, and you own the card. Each transaction and activity is linked with your account.
Key Difference between an Authorized User account and Primary Tradelines
The key difference is that the Authorized User account is added to the primary tradeline as a collaborating account. You are not responsible for any changes occurring in the primary account, like transaction activity. Still, you can get the transaction history to your credit card.
The primary account holder is responsible for a credit line of mortgages, loans, and other taxes while the Authorized User is not involved in such activities. You, as an Authorized User (AU), only get line history to your report.
Which One Should We Choose between Authorized User and Primary Tradeline?
It all depends upon the score of your card. If you have a good score, you should buy an Authorized user account to boost your score to the maximum level. But if you have bad credit and unstable reports, you should go for the primary tradeline and get stability first.
It’s a wise decision to choose the best option according to your report. If you want to boost and enhance reports, then you must purchase tradelines for this purpose.
How can I get Primary Tradeline?
It’s imperative to know the difference between getting a free primary tradeline and purchasing it. You can get a free primary tradeline by just opening your bank account and getting a credit card. You don’t need to worry about the purchasing of a primary trading account.
But there are some sources by which you purchase primary legal tradelines for your credit card. It’s a better choice to get it free without using money on it, and you can buy secondary tradelines for boosting your score.
Is it Safe to use Other Credit account history?
The federal law allows you to use a primary account as a secondary account holder without any trouble with account challenges. It’s safe and secure to use another account history as it is unknown to you and the primary account holder. You are not answerable for any transaction or other activities on the account. You use credit account history to boost your score for getting mortgages and loans for car and house.
The primary account holder is responsible for the transaction and other activities on the account. Therefore, secondary tradelines help enhance the credit score, with someone’s account having a better score.
Importance of Authorized User (AU) account
It’s a need of the hour to have better scores to get loans and mortgages from the banking and other financial sectors. If you have a low credit score, you can’t get loans from the bank, creating trouble for your financial business. Therefore, Authorized User account or secondary tradelines play an essential role in getting improving your report and history.
Different average limits are present, and you can choose tradelines according to the credit score requirement. If you have a low credit score, you can buy three to four tradelines to upgrade the point scores. But if you have a good score, then you can buy one or two tradelines. It all depends on the report status, and you can purchase tradelines without any trouble or bogus results.
