A tradeline is a term used by credit reporting agencies to describe credit accounts listed on a credit report. For each account reported by a business there is a separate tradeline. Each tradeline includes information about the creditor and their debt.
There are two main types of tradelines. Revolving tradelines like credit cards and lines of credit and installment tradelines or loans like mortgages, auto loans, student loans or personal loans.
Along with debt information each tradeline can include information such as;
This information is primarily used to calculate credit scores. A credit score is just one aspect of a potential customers creditworthiness. Lenders may also want to check the tradelines on an individuals credit report to get more information.
Checking on specific information on a tradeline can give a lender detailed information. For example, a lender might check to find out the length of time an account has been delinquent. They could also check if credit scores have dipped because of a high utilization rate which can help determine whether a potential customers is a credit risk by checking the balance versus the credit limit.
In order to report tradeline data to the credit bureaus you will need a data furnisher agreement with the credit bureau(s) you wish to report to. You will also need Metro 2® reporting software which is up-to-date with the Credit Reporting Resource Guide®, meets all credit reporting laws and regulations and is capable of accurately producing the Metro 2® format layout such as our M2R program.
CONSUMER DATA INDUSTRY ASSOCIATION®, CDIA®, the CREDIT REPORTING RESOURCE GUIDE®, and METRO 2® are registered trademarks or trademarks of the Consumer Data Industry Association in the United States and/or other countries. Neither M2 Reporter nor its products or services are affiliated with or endorsed by the Consumer Data Industry Association or CDIA.
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