Trade lines?

[Anonymous]

Assuming everything else is good. Can anyone tell me if these 3 tradelines will qualify me.

1. Cell phone bill.

2. Life insurance payments

3. Student loan payoff

I have atleast twelve months of good payment on these except for the student loans. I was falling behind with the student loans about 18 months ago. In other words its been good for the last 18 months and will be paid off this month. The reason I am using these as my tradelines is because I have no credit cards. Thanks for the advice.

[DallasLoanGuy]

Uh.... Do you have credit on your credit report? (traditional trade lines)

[Anonymous]

Hi Dallas. I do have credit. I have about 2-3 items that I paid off (atleast 5 years ago). Then there are a couple items that went to collection, also about 5 years ago, if not more. My middle score is around 650. I have no credit cards and I will be paying off my student loans this month. Thanks for the advice.

[Anonymous]

Hello Dallas? Can you answer this one please. Thanks alot.

[Anonymous]

I suppose it depends on the lender, but I recently went through the process shortly after Chapter 13 bankruptcy discharge, so had no reporting trade lines newer than 4-1/2 years old on my CRs.

The lender, however, used my record of trustee payments for 4+ years, a statement from my utility company certifying no late payments for 2 years, verified a history of on-time rent payments, and required a notarized letter from my bank regarding the current status of an unused-but-open overdraft line of credit.

On the basis of those 'trade lines', I got approval.

The telephone companies, by the way, were not helpful supplying a payment history, in my case.

[Anonymous]

Thanks for the info.