Adding Trade Lines in 2009 – Powerful Or Pitiful?

There is a great deal of misinformation on line about the legality and validity of adding trade lines to a persons credit report. At first, you will read that tradelines will send you to jail, directly to jail, without even allowing you to pass go or collect $200. Other times, you will find information that announces that they are not illegal, but the best way to add instant score increases to your credit report. Let’s break down exactly what is the truth.

The first thing to know is that it is and is not illegal to add these to your credit report. How is that for confusing? Honestly though, if you just go out and purchase a trade line from someone that mysteriously adds it on your file, you may be in for trouble. The reason for this is because the trade line does not actually belong to you. You paid someone to post a mark on your file. The second thing to consider is how are they posting it? If they are using e-oscar or metro 2 debt software and they do not have license to do so, then your trade line, even if it does post, will not stay on long. In other words, wasted money!

The other part to this equation is how to make purchasing a trade line legal to add. The bottom line is that you cannot purchase the trade line, but you can purchase the debt and have that show on your report as a legal trade line that you own. This could be a complex way to add trade lines to your credit, but like everything else, there are companies out there that have made this process simple and easy.

If you are going to add trade lines to your credit report, and if you follow the rules making it legal, it can be an extremely powerful tool for building your credit.

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