As we have mentioned in other posts, an authorized user implies that a family member, someone you know and trust, adds you to their credit card account.
If this is the case, you become an authorized user, but you have no responsibility to pay the card charges that come to the primary account holder, and you will usually get a card linked to the account, which you can use with the approval of the primary card holder to build a history and good credit habits.
Buying tradelines is what will help you leave the bad credit score behind and start inheriting good credit use. But, don’t think that just buying tradeline is what will help you build good credit.
Tradelines are for building credit once it is already affected, but there are a few recommendations that will guide you to have good credit habits, among these are:
Pay off credit card debt.
Your credit utilization ratio, calculated by dividing your credit card balance by your credit limit, is an important factor in your credit score because it shows how much of your available credit you are using.
If you have a high utilization rate, more than 30%, paying off your balance can help improve your credit score as soon as the account is reported again to the credit reporting agencies.
Inaccuracy dispute on the credit report.
If there are erroneous defaults on your credit report, this could be lowering your credit score. It is best to order a free copy of your report from each of the credit reporting agencies (Experian, Equifax and TransUnion) and review them to see if there are any negative accounts.
If you want to monitor your credit report more regularly, you can get a free credit report monthly from Experian.
If you find errors on your report, you can dispute it directly with the credit reporting agency, as well as the creditor, to correct it. Once removed, your credit score will respond accordingly and your credit history will no longer have inaccurate or incorrect information.
Learn to develop good credit habits.
There is no guarantee that you will get the benefits you are paying for with the purchase of commercial lines if there are ethical and potentially legal issues to consider with the practice.
If your goal is to improve your credit score and keep it in good shape, the best way to do that is to develop and practice good credit habits. Since you would be wasting your time buying tradeline and at the same time continuing to have bad credit practice and unhelpful habits.
Make your payments on time every month.
Keep your credit card balances relatively low and pay them in full each month, and avoid unnecessary debt. In fact, it’s probably better to take the money you would have spent on buying commercial lines to pay off any existing debt.
