How To Get Authorized User Tradelines For Free
Authorized user tradelines can be an excellent way to improve your credit score. A tradeline is simply an account on your credit report, such as a credit card or loan. When you become an authorized user on someone else’s account, that account appears on your credit report, and you will benefit from the account’s positive payment history. Here’s how you can get authorized user tradelines for free.
1. Ask Someone to Add You as an Authorized User
The easiest way to get authorized user tradelines for free is by asking a family member or friend to add you as an authorized user on their credit card account. It is important to note that not all credit card companies report authorized user activity to the credit bureaus. Therefore, you should ask the account holder if their credit card company reports authorized user activity before being added to the account.
2. Join a Tradeline Sharing Service
Tradeline sharing services are websites that connect people who want to improve their credit scores with individuals who are willing to add them as authorized users on their credit card accounts. These services are not free, but they can be very affordable. The cost of adding an authorized user to an account typically ranges between $50 and $500, depending on the credit limit of the account and the length of time the account owner has had the account.
3. Become a Credit Card Authorized User Piggybacker
A credit card authorized user piggybacker is a person who engages in a practice known as “piggybacking,” which means they pay someone to add them as an authorized user on their credit card account. In some cases, the account holder may not even know that the person has been added as an authorized user. This practice is not illegal, but it is highly frowned upon by credit bureaus, and it can result in your credit score being negatively impacted if the account holder misses a payment or carries a high balance.
Frequently Asked Questions (FAQs)
1. How long does it take for an authorized user tradeline to appear on my credit report?
It typically takes about 30 to 60 days for an authorized user tradeline to appear on your credit report. However, this can vary depending on the credit card company’s reporting schedule.
2. Will being added as an authorized user improve my credit score?
Being added as an authorized user on an account with a positive payment history can improve your credit score by increasing the length of your credit history and reducing your credit utilization ratio. However, if the account has a negative payment history, your credit score may be negatively impacted.
3. Can I be removed as an authorized user from an account?
Yes, you can be removed as an authorized user from an account at any time by the account holder. You can also request to be removed from the account if you no longer wish to be associated with it.
4. Is it legal to pay someone to add me as an authorized user on their credit card account?
Yes, it is legal to pay someone to add you as an authorized user on their credit card account. However, if the account holder is unaware that you have been added as an authorized user, the practice is highly frowned upon by credit bureaus and could result in your credit score being negatively impacted if the account holder misses a payment or carries a high balance.
In conclusion, authorized user tradelines can be an excellent way to improve your credit score and access better credit offers. While there are some free options available, such as asking a family member or friend to add you as an authorized user, you may want to consider joining a tradeline sharing service or becoming a credit card authorized user piggybacker to access a wider range of available accounts. As with any credit-related decision, it is important to take your time, do your research, and proceed with caution to ensure that you are making the best decision for your finances.