October 26, 2008

Buying Tradelines

Hello Paul:

I took on the task of cleaning my credit and, when the dust cleared, I don’t have any accounts, tradelines or anything on my file. I know that authorized users are no longer effective. I heard that if you are considering tradelines, they should be joint and if you use them, you must let the creditors when you apply for credit.

My question, is the process of applying tradelines all illegal.

Thank you for your time and service.

Umar

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Hello Umar,

Purchasing tradelines from credit repair companies that sell them is fraud. Having a friend or relative add you as an authorized user is fine, and it is still effective to this date.

Read: Right, Wrong, & Procedures

Thanks for the questions and hope this helps.

Paul

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