Here’s the thing, you might be familiar with the notion that tradelines can either be primary or seasoned, but you might not be totally sure on the difference between the two. It is hard to know which one will be better suited for you and how they can both affect your primary credit lines but, that is what we are here to show you.
What Are Primary Tradelines?
There is a lot of information out there about primary tradelines, and this can be especially confusing. But, right before you begin to consider purchasing tradelines of any kind you need to familiarize yourself with exactly what you are getting involved with.
So, a primary tradeline is actually an account on a credit report that is made specifically for the primary account holder. So, this means that the report will feature all of the primary account holder’s lines of credit. Some examples of this will be mortgages, or credit cards, or maybe even car loans. Basically, anything else that the primary account holder has borrowed should be included in this.
Ultimately, the primary account holder is the sole person responsible for paying the balance that is on their accounts. Then, this is ultimately going to have an effect on the credit score of the primary account holder – but this is of course dependent on how they manage their debt.
What Are Seasoned Tradelines?
Some people call these seasoned tradelines or aged tradelines – and both refer to the fact that the tradeline has allowed users who are now jumping on or who have a previous payment history of further than two years. Ultimately, the bigger the history of the age of the individual tradeline, the more vital the tradeline is to your credit file – and this is all through a credit score boost.
In fact, it is true that seasoned tradelines are perfect if you are keen to improve your credit score for a limited period of time. In fact, it is much wiser to purchase a seasoned primary tradeline as someone who is an authorized user. By doing this, then the primary account holder can stay in total control of the account. You only pay if you are keen to be added as an authorized user of the account – you actually have no obligation to the account at all.
What Is The Difference Between The Two Tradelines?
So, naturally both of the tradelines are pretty different. You have the primary tradelines which pertain to the credit account that you have opened by yourself. So, being the primary cardholder is what makes you the sole person responsible for the transactions which are made by utilizing your credit account.
For primary tradelines, you need to be good at paying on time because this will allow you to have a positive history in terms of credit.
However, a seasoned primary tradeline is looking at a line of credit that has already been opened for two years. Due to the number of years that it has been opened for, then this will have already established credit history, so seasoned tradelines will be perfect for authorized user tradelines.
Using this kind of tradeline is meant to be more helpful in boosting credit scores in comparison to the standard tradelines.
Which Tradeline Will Suit You The Best?
Ultimately, it is hard for us to know what tradeline will suit you the best without knowing your own financial circumstances. However, there are some things that are important to note about your primary and seasoned tradelines.
Primary tradelines are free, and they are easy to open within a credit card or bank card company of your choice. In addition to this, primary tradelines are legal and you can actually have as many primary tradelines under your name – so long as you are the sole card user. You can use primary tradelines as a way to help you boost your credit score.
Seasoned tradelines have their own years of credit history, and these kinds of trading records can also be helpful in uplifting an individual’s credit record.
Ultimately, the kind of tradeline that you opt for needs to meet your own needs and what you want.
Overall, primary tradelines can be better suited to people who have no credit history – however seasoned tradelines can actually help you to build up your credit score. Here, we have tried to outline what exactly will work out best for you – and you have the flexibility to do what will suit you and your financial circumstances the best.