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hey what's up I'm Tony Hill I'm personal and small business credit coach online marketer and youtuber hey welcome to my youtube channel making sense of credit and making system making money online hey welcome hey yeah today's video is gonna be to me be talking about trade line reviews and then also a company that I like that I've used and I just sent you know I send my clients to they use and if they need Oh a trade line that sort of thing but look before I jump in and hey look if you're not a subscriber please subscribe to my channel smash the like button it's a notification bell for upcoming content feel free to make a comment and most of all share this with your friends and family if you think it's something they can use alright hey welcome guys hey look it's a first one it's been a while since I really talked a lot about trade lines and that sort of thing I've really kind of wanted like I've been doing this for 35 years they've they've been a great tool in the past if you don't know what a trade line is you know maybe take some time to research research with trade lines are I'm not gonna get too much in depth on an island sue me most I'm assuming most of you you folks know what a trade line is but I'm gonna kind of be actually this hopefully this will be one of the better videos you see when it comes to trade lines a little bit more in depth but first of all I just want to start with saying that first of all purchasing or adding you know adding someone adding you as a authorized user to their account whether you purchase a trail in a trade line or get on someone's account as an authorized user and they're actually one of the same looked it does not fix you credit yes in some ways a dilute sure you got bad credit it dilutes your credit it a little bit you might go up a few points but I would say don't purchase one for sure if someone asks you great that's fine but I've seen people spend you know thousands of 1200 hours for trade lines name you know when they've gone up 20 30 or 40 points which is which it doesn't make sense it's not gonna do a whole lot for you so I just want to start out by saying that below the two many reasons people will buy trade line is a quick credit score increase for a better chance at a loan or credit card approval to build their credit file by adding credit history authorized user' trade lines can be an excellent way to for some people at high-quality credit history to their credit file quickly the Federal Reserve Ward B in 1975 required credit card companies to add spouses to credit cards and report the credit card information to the credit bureaus for an authorized users as if it was their own today most credit card companies still follow this practice pretty close except for they no longer asked if the ask but what your relationship is to the authorized user three main categories were that a trade line positive to positively affects Lea puzzly effects on your credit utilization the amount you owe payment history and the length of your credit history your payment history and credit utilization amounts o while your revolving credit cards can account for up to 65% as you guys know 35 you know payment history I mean a credit yep 35 payment history 30% credit utilization on your FICO score might be a little different on the vantagescore algorithm so you know check that out for yourself I forget it might be the same but you know guys know how I feel about potential scores I don't before you while I'm flying over before you apply for anything make sure you get your FICO scores so look I mean with that being 65% then it makes sense to use a trade line if possible the best part of buying a trade line is all of the perfect payment history and let the credit history that was attitude that's gonna be attitude credit file will still be there at the the accountants clothes and what I mean by that is that although you so lets you if you don't know once you purchase a trade line or somebody asks you to a trail on and they take you off or they clue or they take you off it comes up as closed the great thing about that whether there's 60 90 days that history is still showing there nobody can take that away from you they're still gonna be there that's a real advantage for trade line especially for people with limited to no credit because you could go from from nothing to a perfect and length of credit history in a short period of time look if you have no credit or limited credit then choosing the Krait line with the long credits rule will make it the biggest impact to your credit score season trade lines with long credit history you can have multiple years of perfect credit history to your credit report look my thoughts once again I'm back and if you have bad credit just don't do a work on your credit then look at trade lines afterwards look you should anticipate give you those credit points back at the end of that 60 day in 90 days you know most trade lines will last for some companies say they last for six years six months to a year I haven't seen that with the company that I'm gonna give you generally 60 days and then you're back so look you gotta go it's you know typically back to where you work unless you utilize that time frame and here's what I mean so once again at the end of 60 days once that Commons closed your credit utilization is going to go back to original percentage so if you got a high percentage before you bought to trade line you're gonna go back to that if you bought trade lines with large amounts and a long credit history it probably reduce your percentage you know maybe you went from 50 percent to 10 percent and whatever the case may be but after that trade leg is gone you're gonna go back to that this is good to keep in mind if you are looking to apply for Allah our credit card that you did not qualify before the trade line score increase you need to time your application so when you're applying for something along mortgage whatever you need a time in that 60-day window to apply for that to maximize your score and to qualify for the lowers interest rate and again to get approved right so look I would just be careful the ones that I would be careful with this is City City Bank Wells Fargo US Bank straight lines because you know what research I sing sometimes 50 to 75 percent success rate of posting to the credit reports you know a lucky you might buy one of those and you might be fine but this based on some research and also based on the company that I'm working with with their research hospitals but let me just get some confusion out of way about what's an updated updated trade line means you might see that sometimes but this comes with confusing becomes a credit monitoring services regulates and alerts out to view an update a trade lying on your credit report basically what they talking about is an updated trade line meaning is when a lender or financial sends additional updated information on their credit bureau once you're about one of your existing trade lines so that's the difference you know you have a trade like that you might purchase or come on as an authorized user or you might get this update from a you know the bureau saying that you know you have updated trade line which means that the creditor just update us from information for instance when you make a payment to your automobile loan lender and they will send an update to your credit bureau letting them know that you made it on time payment and to adjust adjust a balance to loora looral mom that's what that means also look i want to share this with you there's been some big news in the trade line industries first of all look the FTC they don't like trade industry they don't like the light trailing companies and they really don't like us having authorized users and then if they if they could scoffing problem would but this company called boost my credit score net it's getting sued I think this was May ninth if I'm not mistaken and shut down by the FTC I that effect I tried to go on and look him up I think yesterday in the last couple days I couldn't the website wouldn't come up for me but for multiple reasons look then that's bad news for the whole trade lying business business right businesses rate to take away is federal government does not like straight line industries and if anyone advertisers look if anyone advertises this product for any reason to boost credit scores and make them file that away to boost credit score so I looked this not only goes for the individuals watching us but also for you credit trade line companies make sure you're not using that language those credit scores because that can get your in trouble or trying to help people appear more creditworthy in any way you can be sued have your business shut down and they will seize all your business and personal assets this is this is as this as the precedent that's being set right now so be careful guys just want to put that out there so here's the company that I use I like they called you know TSC trade trade line supply a company I brief I've generally refer all my company I used I used to use another company but they were way too expensive but trade line supply company I think they got like a new CEO they have they've been around since - they're newer company been around only since 2017 they had some issues with negative reviews and that sort of thing but you know they a lot of I think people were trying to set them up to fail which you know sometimes competitors do that but I've been looking at them for a while and I've been using them for a while they seem to do a nice job I've had a couple that I've use just you know everything I try to do is empirical between you know really experienced an observation but I like them I like them a lot they they offer access to a long list of credit cards from which you may choose and once again they don't use those companies that I name they try to stay away from they use specific companies they don't pretty much use Citibank Wells Fargo or US Bank just because of the percentages post into the credit reports you know then they are regularly as much as half the cost as their main competitor offering season trade lines and they start as low as $150 bucks as an authorized user and I'll let you check them out I'll put my link down below click my link look I am an affiliate you know so if you buy something or whatever the case may be I will get a small you know a small fee or whatever the case may be very small fee but I am an affiliate trade Lang supply company LLC does not and I want to make sure they been an affiliate is they doesn't they do not advertise trailing the express or implied reason to boost credit scores or help anyone appear more creditworthy rather they simply offer the ability for someone to add it to a credit card as an authorized user with no guarantees or promises as to how long this may or may not affect someone's or may affect someone scored so once again I am an affiliate I'll leave my link down below once again if you if you click the link I do get a small commission but I like them hopefully this video has helped you in some way once again is it does not fix bad credit and I would I would really say do not buy trade lines when you have bad credit you had a 430 yeah you might get you know it might ask some something to your to your score maybe more than others you know I've seen I'm not you know what just because I don't want to get into the boosting score things I've seen it from a wide spectrum and you know what buyer beware that's all I can say I won't get into that because I want the FTC coming after me we're saying how much or how much were they will not boo score so but it was a great tool actually maybe you watch this video and that once but twice and get something out of it but look hey Tony Hill making sense of credit making sense of making money online I wanted to drop that to you once again make sure you subscribe to my channel look we're still in this Cova 19 thing and also to man my heart goes out to George Lloyd and his family and I sure want to see things change that change that hurt hurt my hurt my heart if you are protesting be safe also stay six feet away wear a mask and protect yourself and your family Tony Hill to the next video guys I'll see ya peace