With many consumers today suffering from too much debt and bad credit many companies have started to appear on the market promising to show you how to increase your credit score with tradelines. However great the advertising sounds or how many promises the companies make you should be aware of the dangers of using this method of credit repair.
The biggest concern about this method of repair is the fact that you are putting your name and social security number on a complete stranger’s financial accounts. Although it may not sound like a big deal at first you have absolutely no control over how the person pays their bill once you are added. If the person for whatever reason starts paying late after you are added to the account it can increase your chances for a further damaged report.
The three major consumer reporting agencies have also recently caught on to these companies and their techniques and have changed the way they determine credit scores. So paying 200-$500 to be added to someone’s established tradeline will really not buy you much of a score increase anymore, your money can definitely be spent more effectively.
Instead of letting a fly by night company try and sell you on how to increase your score with tradelines consumers should instead look at an affordable self credit repair kit. Repairing their credit report will allow them to not only increase their scores by removing negative accounts they will also be able to apply and be approved for their own credit accounts. The best part is that it will cost much less money and be a permanent fix instead of a short term band aid. Click here to check relevant information about how to improve your credit card score.