Is it legal to add a trade line to increase your credit score and how much should it cost

Explain "trade line".

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Originally Posted by bbrnsfm

Is it legal to add a trade line to increase your credit score and how much should it cost

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A "trade-line" is any debt, installment or revolving, on your credit report. With that being said, bankruptcies, judgements and collections are typically not considered "tradelines". I emphasize "typically", because dependent upon who is analyzing your credit, they may or may not count collections or judgements as tradelines if they are with the original creditor, as opposed to have been purchased by a collection agency. Back to the heart of the matter, if you are referring to purchasing a tradeline; the illict practice by which you purchase the ability to be an "authorized user", and there for reap the good credit history, of another's, let's say, credit card. It is expensive. It is not illegal. However, the authorized user scheme had been around for a while. Most credit reports, i.e. Landsafe, detect it. You may have you FICO score drastically increased, but your ability to obtain financing will not increase. By the way, paid debts are removed after seven years. Bankruptcy takes ten. I hope this answers your question.