Sentences with phrase «tradeline account»
Each supplier / vendor is considered a tradeline account, and the payments you make to that supplier / vendor is considered a payment experience.
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By joining an existing tradeline account as an Authorized User, you can piggyback on a relative's or spouse's good credit standing until you've had time to build a credit profile of your own.
Not exact matches
It incorporates statistical modeling using over 800 commercial and owner variables — including tradeline and collection information, recent credit inquiries, public filings, new account activity, key financial ratios and other performance indicators.
A tradeline is simply industry - speak for «account.»
Tradelines are credit - lingo for «accounts with creditors».
Adding a new account type improves the diversity of tradelines appearing on your consumer report.
The trended data will be included on virtually all active tradelines, not just revolving accounts, and will include credit cards, Home Equity Lines of Credit, student loans, car loans and mortgages.
Tradeline information includes names of companies where the applicant has accounts, dates accounts were opened, credit limits, types of accounts, balances owed and payment histories.
Payments made on business tradelines affect your credit score differently than personal credit accounts.
A tradeline describes the consumer's account status and activity.
Authorized User accounts can be used to meet tradeline requirements if 12 months payment can be documented by the borrower.
A tradeline is simply industry - speak for «account.»
Date or delinquency listed correctly in one account or tradeline, but incorrectly in a second tradeline after it was turned over to a collection agency (the transfer of a debt should not result in a new, later delinquency date)
TRADELINE A record in a credit report that provides information on a credit account, a public record, or an inquiry.
Account History — includes entries or «tradelines» for each of the credit accounts that are or have been active within the past seven years (ten years for positive tradelines).
With an authorized user tradeline, you can keep track of your credit account status on a regular basis.
In fact, people who have several active tradelines in good standing (no missed payments or maxed out credit), including a good mix of credit account types and that have been open for at least two years, end up having higher credit scores.
So the account appears as a tradeline not only on your credit report, but also on your cosigner's.
i.e. (Bank of America, Chase, Discover, Wells Fargo, CITI) then reports the positive credit history including the age of the account, the limit to the tradeline and the positive payment history to Experian, TransUnion and Equifax.
The secret to using tradelines effectively to improve your credit score lies being proactive — making sure that accounts that appear on your credit report are in the best shape possible before they're reported by lenders or creditors — rather than taking action after the fact once the damage to your credit score has already been done.
Three new tradelines, 8 collection items removed, 1 tax lien, and payment arrangements for my current credit accounts that were about to be charged off and I have gone from a 476 to a 644 on Transunion's monitoring service!
To qualify for a Prosper loan, applicants are required to have a minimum credit score of 640 and three open tradelines (credit accounts).
It incorporates statistical modeling using over 800 commercial and owner variables — including tradeline and collection information, recent credit inquiries, public filings, new account activity, key financial ratios and other performance indicators.
The program allows the use of non-traditional tradelines to establish credit history, including utility bills, gym membership, and most other accounts which require monthly payment.
Special Note: the lender is required to ensure that the payment for the tradeline, if any, is included in the debt - to - income ratio if the account does belong to the borrower.