We can help you raise your scores by doing several different things like 30 to 45 day credit repair or adding a tradelines or several to raise those score. If you have never heard the term tradelines here an explanation: When a borrower opens a line of credit, such as a credit card, car loan, or a home mortgage, these accounts are called trade lines. The number, history and status of these credit trade lines comprise a large part of a person’s credit score. The higher a person’s credit score, the greater the likelihood of obtaining credit and of qualifying for more favorable interest rates and terms. Credit bureaus such as Experian, TransUnion, and Equifax look at the amount of open trade lines, the payment history on the accounts, how long the account has been open and how long since the last activity on an account to determine an individual’s credit score. To build positive credit history a person generally should strive to have approximately 3-5 active trade lines that are “seasoned,” meaning the accounts have been open for around 2 years, have positive payment history on all accounts and the accounts should be current and in good standing.
Posted on: Sat, 30 Nov 2013 07:17:19 +0000
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