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It's possible, yes, but not a good idea. Most of the time what you're buying when you buy a tradeline is the labor cost for someone to make up information--which is outright fraud. Instead of buying a primary account with falsified payment history through a shady company, the best practice is to assume a debt instrument through a debt factoring or purchasing company. I know that Assumable Assets, Inc. is probably the most well-known one. They have you take over an account and make a minimum monthly payment, and you inherit the payment history originally tied to the account minus the derogatories since they are connected to the original account holder and not to the account itself. They're at www.assumableaccounts.com if you wish to read more information, although there are a lot of press releases and other literature on them if you want to research it further.

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Q: Is it possible to buy primary tradelines?
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Should you close all credit cards since that FICO score is not needed to buy a house?

I am a mortgage broker. You need a FICO score to buy a home. If you have no credit, keep open at least one credit card so you can build some tradelines.


Is there a legal way to buy primary tradelines or trade lines?

Primary tradelines are basically a thing of the past. People for a while got away with making up fake accounts and payment histories and setting up false companies for that purpose. Now, credit bureaus are too strict and people can't get through. Really the only way to do this now is to assume a prior existing account, like they do at Assumable Assets, Inc. Their website is http://www.assumableaccounts.com for more information. I guess what makes it legal is that it's a real account and you really take over responsibility including the monthly payment. They're very knowledgeable about all of this stuff and really got me out of a tight spot in January after Christmas left me a little financially dry.


When will a negative credit reports be taken off?

7 years is the reportable limit for normal tradelines. Bankruptcies stay on for 10 years.


Can primary tradelines be bought?

Primary tradelines, or trade lines as they are called in the industry cannot be 'bought.' At least not legally. Most companies will charge a fee and then set up a fake payment history for you and report this to the bureaus. This is bad news. The Federal Trade Commission is investigating these primary lines as fraud. They indicated that the customers who participate in these scams can also be considered part of the crime committed. If you really want to boost your credit score with lines in your own name, your best bet is setting up real accounts with finance groups like http://www.primarycreditlines.com . CBS Credit is probably the only company that is setting up primary lines that you actually make a real monthly payment on. They also transfer responsibility of existing accounts to credit investors giving you a legal and honest way to get years of payment history. My fiancee used their services and saw her scores go up like 200 points with all three bureaus. Not only that, but their lines report in like thirty days or less. As long as she keeps making her payment, the lines keep reporting as active.


What is an acquisition debt?

An acquisition debt is any debt used to buy, build, or improve a primary or secondary residence.

Related questions

Should you close all credit cards since that FICO score is not needed to buy a house?

I am a mortgage broker. You need a FICO score to buy a home. If you have no credit, keep open at least one credit card so you can build some tradelines.


Is there a legal way to buy primary tradelines or trade lines?

Primary tradelines are basically a thing of the past. People for a while got away with making up fake accounts and payment histories and setting up false companies for that purpose. Now, credit bureaus are too strict and people can't get through. Really the only way to do this now is to assume a prior existing account, like they do at Assumable Assets, Inc. Their website is http://www.assumableaccounts.com for more information. I guess what makes it legal is that it's a real account and you really take over responsibility including the monthly payment. They're very knowledgeable about all of this stuff and really got me out of a tight spot in January after Christmas left me a little financially dry.


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