People are often confused about what tradelines are.
The answer to “what are tradelines” is simply this… it’s just another word for “account” on your report. The term “tradelines” is a financial industry term for an account. Usually, this refers to an account appearing on someone’s credit report.
A large majority of people searching google for “what are tradelines on a credit report” are referring to the addition of seasoned tradelines to boost your credit scores.Of those people, they usually hear about the concept from friends, real estate agents, credit repair specialists, or mortgage brokers. Often, the concept is discovered in their effort to increase their credit scores.
Tradelines are perceived as a secret tool to quickly increase your credit score. This is especially true in the face of a credit profile adversely affected by negative items, such as late payments, charge offs, etc. While I don’t want to overstate or unrealistically agree with such a contention, I do have to agree to some extent.
As discussed above, any account appearing on your credit report is a tradeline. Whether it’s good or bad, your collective tradelines make up your credit report. The information from your creditors regarding each account (otherwise known as a tradelines) is collected by the major credit bureaus; Experian, Equifax and Transunion.
Seasoned tradelines is a term mostly describing the addition of an authorized user account on your credit report. Obviously, the intent is to have a seasoned account (an account with perfect payment history over an extended period of time) added to your credit report. This account will have a positive impact on your credit report given it’s stellar history and perfect credit posture.