Jun '24 • Credit knowledge
Components of Tradelines:
- Credit Accounts: Tradelines represent various types of credit accounts, such as credit cards, loans (e.g., auto loans, personal loans, mortgages), lines of credit, and retail store accounts.
- Information Included: Each tradeline typically includes details such as the creditor's name, account number, type of account, credit limit or loan amount, current balance, payment history (including any late payments), and status (open, closed, paid off, etc.).
- Credit Reporting Agencies: Tradelines are reported to credit bureaus (Equifax, Experian, TransUnion, etc.) by creditors on a regular basis. Credit bureaus compile this information into credit reports for consumers and businesses.
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Components of Tradelines:
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