I have come across a few companies that claim to offer seasoned credit trade lines
with great pay history and low balances for sale. The costs start @ 500 - 1k per trade.
If anyone has had experience with this please post reply.
Seasoned tradelines are great. I actually have purchased about 5 of them and my credit score went from a 608 to a 680 in about 50 days. I now work for the company as a sales rep.
You have to also remember that Stikee is also selling these and making money off people who do them. I think that link is to a company he works for or is affiliated with, correct?
Yeah, this just seems like an attempt to game the system. I would be skeptical of the promised results.
Ok Ok, im certainly not the saint of the group,
And I realize the site claims that this is completely legal, and I have no way of nor desire to prove its not legal
BUT
Does it strike anyone that IF: (below has been cut and past from the site)
Recently denied credit
Can’t get approved for a mortgage
Can’t get approved for any loan
Low Credit Scores
Late Payments
No Credit Scores
***That by paying money to get trade lines that are supposed to increase your score (ie the an actual accounting of what your pay history is), but in fact your paying to put on credit history that you have not earned
Is maybe a little bit shady?
I’m letting you know about the service and about the results that worked in my personal situation. ASR Solutions is now a company I work for yes…however, I signed up with them after they enhanced my credit. Anyone can sign up with them. They just pay you a referral fee. I don’t go out of my way to prove how great the service is. There is a big enough market out there of people who are in desperate need of the service. Everyone knows that when you add years of credit payment history to your credit profile that it boosts up your scores. Credit scores are generated by a computer program, not a person who picks a number out of their hat. Calculating systems don’t lie. When people have low credit scores, particularly under a 600 middle score, it is because of a specific reason or set of factors that have adversely affected their risk level. The biggest impact on any credit score are 3 things.
- Length of time account open (the longer the better)
- Credit limit vs. Balance ratio ( the smaller the better)
- Payment history (only on time payments are acceptable)
Any negative information attached to these 3 subjects affect your score the worst.
Mortgages, collection accounts, judgments, liens and inquiries don’t nearly have the impact of the 3 subjects above. Yes they bring down your score, but you can offset it with more positive information than negative information. Credit scores are a range of numbers that tell creditors how likely you are to repay them if they issue you credit. If your scores are too low that means your credit report or profile does not show enough positive information in regards to the 3 main points above. Therefore lenders consider you a high risk. Seasoned Tradelines add established timely payment history and low balances to your credit report. Right now, credit card companies report authorized users the same way they report co-borrowers or joint account holders. The information on your credit report does not show the date you were added to the account, but instead it shows the date the accounts were added. This is how the payment history transfers to your account.
It is not a secret that seasoned tradelines are purchased by people who are using other peoples payment history to get ahead. That is the whole point of the program. However, keep in mind that credit card companies are the ones who actually do the adding of the authorized user, not us. We just help people find the best accounts to get added to. Some people think it’s shady, some people think it’s unfair or even down right wrong. But who cares…unless people who feel that way become law makers or start up their own credit card companies and create their own rules…it does not matter. All opinions are respected…but they don’t matter in the real world. Regardless of what people think…it’s legal…do some research, or better yet if you have any credit cards call them yourself and see how many authorized users you can add. Some AMEX cards allow up to 99 authorized users!! And no opinion can change that fact. Bottom line is…there are way too many people that the credit bureaus screw over because of a bad time in their life. Why should someone who got a credit card at 18, in college with no job suffer at 30 when they may possibly be more responsible now. That is not fair, bot nobody complains about that. And let;s not talk about these shady credit card companies that are a bunch of loan sharks. It’s no problem when people have to pay back outrageous fees in interest to the credit card companies or should I say crooks. But…when the average hard working, tax paying American finds a way to either get a second chance at reaching their financial goals or…finds away to save a few thousand dollars in interest, it automatically has to be deemed as probably illegal or some type of scam. We are so programmed to think that we have to just accept the way it is. I’m glad to help people who need to be helped. If their intentions are bad, then that’s on them. But I don’t see why anyone would pay so much money to increase their scores just to screw up again. It would be a waste.
stikkee
i respect your opinion and business idea on selling the trade lines, i simply dont agree with principle of representing anything ever that is not the truth
i also agree that the credit monopoly has little to be desired, but in fact, i know as a lender that when calcualted overall, the “guy” who has earned his 800 credit score will pay me as though his life depended on it, out of shear integrity, whereas the young 20 something, who has a 700 score, because he has not had time to actually do anything to put him in a catagory to have risked any bad credit, is willing to walk away from his debt obligations at the drop of a hat;
but i do feel its getting better, giving consumers more options to correct incorrect information, etc
finally, my description of shady is maybe a bit harse (although I offer no specific apology) because I strongly feel that the mortage industry will sooner or later come down on what I perceive as peoples reckless fabrication of the truth in real estate transactions
and if that time ever comes, with respect, I think that a program such as the one you are touting will be a lightning rod for critisizm
Having said all that, I wish you luck in whatever entreprenuerial endeavors you should partake in.
Thank you for wishing me luck. But I must say that creditors and mortgage bankers are their own downfall. Any good mortgage underwriter who truly knows their stuff can look at any credit report and tell if the person is the account holder, joint account holder or authorized user. There are numbered codes on the sides of each and every account. Most people just don’t know what they mean. The score is not the only thing that should be used to determine if a person qualifies for mortgage. The overall history and type of account is not taken into consideration. Why?? people think 700 score, I’m going to get paid. People with 700 scores may just have been lucky to not have gotten laid off, sick, have a child, death in the family or divorce. The credit system is a joke. The reason this is overlooked is because most underwriting is done by DU (desktop underwriting) or DO (desktop origination) The old school, pick a file apart method when out the window about 10 years ago. Lenders rely on computers and not their own knowledge to break down the accounts on credit reports. Sp they don’t have to lend to people who’s credit scores are high because of authorized user status. They can choose to only lend to people who are Primary account holders. But they choose not to.
Stickee,
It sounds like your judgement is getting a bit clouded because you have a financial connection to this product. Obviously if your score was a 608 you have had some credit issues in the past your fault or not. So by increasing your score toa 680 did it solve the issues that caused you to have a low score or have you just grown older and realized that being responsible and paying your bills on time is the right way to do things. All you are doing is offering a band-aid solution to someone who probably needs a lot more help than three or four credit lines can offer. What happens when the customer gets that 680 and go get way more home or credit than they can possibly afford? Now they are in worse shape than before. You talk about brokers being there own downfall… Hello pot… Its me kettle… Your black!!
IMO
I think that the seasoned trade line program is a great product for people that may have borderline scores.
If someone has a 610 fico but needs 10-20-50 points added then it does not harm anyone too severly.
Conversely, there are people that have no business with a higher score because they will wrongly abuse
the system. What about Stated income, no doc deals?? There are people with one or two tradelines that
have 700 plus scores and little income that can go no doc and get into financial trouble buying more home
than they can rightfully afford based solely on the score!!
Listen the seasoned line program is a tool just like many of the niche mortage products offered, that help to
enhance a borderline borrowers purchasing power. Nothing more nothing less, no program is perfect for every
borrower & there will always be a segment of people who abuse the system no matter what.
Seasoned tradelines are the best way to go if you need a rapid credit score increase. If you need to boost your score in the next 45 days.
Can you send me the webiste for this company?
He can email it to you instead of posting here.
Hello All…Well I have been on this site for quiet a while and you can see from the number of posting I have plus I have had arguements with several people on here about things but need to throw in my 2cents here…
The concept of seasoned tradelines is, a company deals with a network of investors(not $$ types) who have perfect tradeline histories. These individuals will allow you to add your name to their account as an authorized user which will boost your score within 90days as the account needs to complete its cycles. After 90days your removed from the account and thats it. Yes it is expensive and actually $1000 is a good price but thats probably for a low dollar tradeline around $2000… Price of tradeline has to be with the dollar amount of the line since the higher the dollar amount, the better your credit score can become and willingness for lenders to offer higher credit limits.
I actually developed a relationship with a person recently who deals with the CPN (consumer Protection number) this is new and yes expensive (around $5500) but what they do is move all your good info from your social security number to the CPN file and will add tradelines, but that also cost. The pricing schedule varies on what you want done. He also deals with creating a Paydex file as well. Whole price is said to take 45days but you can not use for 90days and you need the file to cycle itself to be right.
I actually decided to try this and he reduced my upfront fee as I want to see if it works because I come in contact with many people with bad credit and they can benifit from it. If this works, will I push it, YES…but I will push it with proof, showing my credit report before it started and the new report with new tradelines and corp setup as well…
One thing people do not know. Social Secuirty numbers were created for the gov’t to keep track of your earning for retirement and taxes. Never intended for credit purposes. Banks adopted this… No where in the constitution or govt rules does it state it is required. Now companies have the CPN to issue and are costly. Many of the people dealing with these come from the credit breaua like EXP,TU, or EQU. They have inside people to clean the reports and create new numbers to use for credit. Thats all it is used for and its aged as well. You do not use it for employement or taxes. but can buy real estate with it.
If it works, I will become an associate and yes make money from the a proven system. Till I see the results I will not push the product since I want proof it works and have the funds to see if it does.
But trust me, if it does, who would not spend $5000-$8000 to have a new history and go and buy more and better…
andrew
Sounds as though the CPN is a pretty cool thing. Just to clear up some of the confusion, we don’t charge based on how high the credit limit is. Believe it or not, how high the credit limit is does not change the outcome. It is the credit limit vs balance ratio that is the most important. At ASR SOLUTIONS we don’t just increase your scores and send you on your way. We educate our clients about credit secrets and give them real knowledge about how credit scoring works. Our prices are very very affordable and we also have payment plans if necessary.
1 tradeline is $500! (for the person who needs a small boost 20-35pts and also for the person who has no history at all or no score can expect around a 650 middle score)
2 tradelines $900 (A bigger boost around 35 points per tradeline and for the person with no history or score they can expect to see a score around 665 to 685)
3 tradelines for $1350 + the 4th one FREE! ( A huge jump usually about 100 to 120 points and for a person with no scores at all they can expect about a 690 to 710!!!)
4 tradelines for $1850 + the 5th one free (You can expect a score increase anywhere from 100 to 200 points! with no scores at all, you guarantee a 700+ score)
Depending on how bad the persons information is, the results can be less. But the overall idea still works, they may just need to purchase more tradelines*****
WOW!! I am glad that I decided to start this topic on seasoned trade lines.
All of the comments by Stikkee (sp) have been right on target in terms of
supplying valuable information. It seems like No One has been able to dispute
the facts that she has presented in the thread. I am so impressed that I am
considering getting 5 lines for my girl as an early x-mas gift(among other things).
If anyone can refute the statements that have been made in thread please post…
I still think it’s just a big ad for their company. If you guys want to advertise, please pay for it by using the classifieds or network ads offered. You are consistently not following forum rules by posting your website and phone.
The purpose of this forum is to share information and experience. Obiously, since they are selling these, they cannot be unbiased. Their profiles have no information about them except a basic email address.
TIPS FOR BEGINNERS
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If someone is boasting about their company’s product and they have a small number of posts, DO NOT trust them. BEWARE when someone joins REIclub and most of their posts directly benefit them financially. Until someone has at least 50-100 posts, you don’t know who you are dealing with.
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See if a trusted, experienced investor in your area thinks about this topic since there are many ways to boost credit. Don’t fall for people who join, then spend all of their time making a case as to why you should call to buy something.
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Bring up the topic in trusted local circles. Meet with the tradeline provider or their rep in person, get three local referrals, and make sure the company is a BBB member at the least. If you deal with someone who you can easily identify and they have a local office, there’s less of a chance of being scammed.
Dee are you saying that a program such as this does not work or what?
Have you heard of any complaints from consumers regarding buying lines?
I have yet to hear from anyone with a horror story or negative experience at all.
Thanks.
Now Im surely not living in a bubble, and realize
- Credit reporting agencies are aften inaccuarate and cost us money borrowing (however I believe there are tools in place to fix this legitimately)
- I also realize that people who invest like us, utilizing cheap debt from the mortgage markets can save $1000s by having a 750 instead of a 600, or conversely having good credit instead of bad
BUT, I also think, as someone who now lends money to investors, I need to have some way of knowing if the guy is going to pay me back or not.
Knowing that the system is so easily manipulated, and I have been aware of this my whole carreer, gives me a considerable pause in lending to anyone, in my opinion, thereby hurting the system
A small story about myself, early in my carreer I borrowed a bunch of money and didnt pay it back. = Score when into the toilet, couldnt borrow to save my life. But because I needed capital, I found other ways, individuals, hard money guys, other real estate investors to partner with, etc. They new my c-scores sucked, but they also knew what I was doing could be profitable. They also looked over every deal with a finer tooth comb because I had this credit strike against me.
And I, my business and my lenders are better off for it now. I have now developed huge credit lines, significant trust, which I hold dear and a better business model because of it. And its because when I had problems, I believe I handled it in a legitimate, honest way. And with all of its problems and inefficiencys, i believe that our current credit system is at least legitimate and honest (HEY, no rotten tomatoes being thrown).
I further believe, paying money, to aquire a good history that is not your own, is not honest. As a lender (and note I am such a small player that I doubt I would ever even meet any of your), I wouldnt lend to you on the shear principle that “you” utilized this service as a way to make your real record/history/credit look better.
So as I step down from the soapbox, I just ask that each prospective buyer of this service think about the long term, and not just about saving a little money on the next deal.
There are a million other ways to raise your score without paid/scam products.