What is a Credit Trade Line?
You’ve probably heard the term “trade line” before, but maybe you’re not sure what it is? A trade line is a debt you owe on your credit report. Each individual creditor or lender you owe (I.E Capital One, Mortgage , Auto Loan) are individual trade lines. Each of these trade lines are monitored by the lender who gave you the money.
Examples of Trade lines
- Did you take out a Target Red card during the Christmas shopping season? If you filled in your name , address and social security number. Likely that’s a trade line.
- Do you have a car loan through a bank or credit union? That’s a trade line
- Student loans? Trade line.
- Any credit card (Capital one / Discover / Mastercard / Visa) Those are trade lines.
- Personal loan for a boat / RV / Motorcycle? You guessed it, trade line.
- Consolidation loan where you paid off a bunch of credit cards? That’s a trade line (however you consolidated multiple trade lines into one)
- Mortgage? Yup.
Anything that reports on your credit and has an affect on your credit score if you do not pay it, is a trade line. You are eligible to receive a free credit report one time annually from freecreditreport.com.
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Justin Scott
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NMLS 878581
- C) 920-530-4484
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- F) 920-490-8967
Executive Mortgage
NMLS 271650
909 . E Walnut Street
Green Bay WI 54301