Author Topic: Selling Tradelines / Piggybacking: $1000+/hr, 20-40k/yr. Side Gig  (Read 124132 times)

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #250 on: August 08, 2016, 04:29:06 PM »
If it's possible for the sellers to receive the buyers' occasional mail, I'm guessing this means the seller's address shows up on the buyer's credit report as part of their history? Which they can access. What doesn't stop the buyer from doing a reverse address look up and finding my name, for example?

I suppose this is possible, if your address shows up.

So let's play out that scenario.  What do you think can happen?  The person gets your address, and then name.  You, in the meantime, remove them as an AU after a month.

What can they do with an address and name?  Keep in mind the phone book publishes people's addresses, names, and telephone numbers.

Quote
Also, do you have to provide the tradeline company with YOUR SSN too? I think this is the part that makes me the most nervous. Kind of feels like I'm SELLING them my identity, even though technically (?) I'm not.

You are an independent contractor for this company, selling tradelines.  They have to issue you a 1099, so yes, they need a SSN for you.  You could provide them with an EIN, I suppose, if you want to set up a business for this, rather than doing it as self-employed.  Either way, to be on the up and up with the IRS, yes, you need one of those.  :)
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #251 on: August 11, 2016, 08:50:23 PM »
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Turns out I was just being impatient. They did get back to me; it just took a week. I'm going through the paperwork now.

The credit cards that I closed a couple years ago were through HSBC, and they don't accept HSBC cards, so there's no point in trying to re-activate those. My Lowe's card lets authorized users be added with only a name and no other identifying information, so there's no way for that to show up on an AU's credit report, so it's worthless for this.

I have two eligible Chase cards and could either split the credit line $10k/$10k, or load $20k onto one card. Since Chase is closing credit cards for excessive use of authorized users, they say it's probably best to use a single card with $20k limit, which is worth $300 every 3 months. So because I don't have many old credit cards around, the best I can do is about $1200/year.  Still a stupid amount of money if all I have to is add and remove an authorized user once every 3 months.

This is tangential to the topic, but I thought it was interesting:
I had a credit limit of $17,500 split between the two Chase cards. When I asked for an increase last year, I called customer support during US business hours. I talked to someone in the US who asked me how much additional credit I needed and ran through all the various options. This year I called after US business hours and talked to someone who was probably in India. They didn't bother to ask how much more limit I needed, just bumped it up by $2500 and said that was all they could do but I was welcome to call back again later. So I called again the next night, talked to someone in India again, and this time they bumped up the limit by $3000 (again without asking how much I wanted.) I wasn't really sure what would happen asking for an increase two days in a row, but there must be some automatic approval for low amounts. I did ask for an increase on a different card number each time, but they're both Chase Freedom cards in my name. That got the total credit limit up to $23,000, and I had them re-allocate that to be $20,500 on the oldest card and $2500 on the younger one.

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #252 on: August 11, 2016, 09:01:31 PM »
I agree with you, with Chase it's better to consolidate.  We did the same thing.

Interesting info on how they added credit.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #253 on: August 12, 2016, 08:08:14 AM »
Following...very interesting.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #254 on: August 12, 2016, 08:33:53 AM »
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Turns out I was just being impatient. They did get back to me; it just took a week. I'm going through the paperwork now.

The credit cards that I closed a couple years ago were through HSBC, and they don't accept HSBC cards, so there's no point in trying to re-activate those. My Lowe's card lets authorized users be added with only a name and no other identifying information, so there's no way for that to show up on an AU's credit report, so it's worthless for this.
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #255 on: August 12, 2016, 09:49:52 AM »
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?
What this company told me is "We specifically need SSN, DOB, or address to post correctly." With the address on there it should work, but I don't think there are any guarantees. Your kids can check their credit report to confirm.   

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #256 on: August 12, 2016, 10:47:42 AM »
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?
What this company told me is "We specifically need SSN, DOB, or address to post correctly." With the address on there it should work, but I don't think there are any guarantees. Your kids can check their credit report to confirm.
I was going to have them check in a couple months any way so now all the more reason to have them do it.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #257 on: August 12, 2016, 10:47:49 AM »
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Turns out I was just being impatient. They did get back to me; it just took a week. I'm going through the paperwork now.

The credit cards that I closed a couple years ago were through HSBC, and they don't accept HSBC cards, so there's no point in trying to re-activate those. My Lowe's card lets authorized users be added with only a name and no other identifying information, so there's no way for that to show up on an AU's credit report, so it's worthless for this.
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?

you could also sign them up for credit karma and see if it posts
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #258 on: August 12, 2016, 06:38:39 PM »
following
Journalling at Happy Aussie Downshifter

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #259 on: August 12, 2016, 09:11:47 PM »
This is a very gray area and not something I would do, but damn, we have five CC each with $20k to $55k limit, a 815 credit score, and the youngest card is 11 years old.

I just don't like violating TOS if I can help it.   I try not to violate the TOS of the MMM forum, which I would hope Arebelspy appreciates.

But we are controlling our income massively to get super cheap ACA healthcare insurance, which really is pretty damn gray too, so I will not cast stones here.  Heck, I even considered getting a mailing address in a more rural part of our state because the subsidy there is $200 more a month for the same exact plan we have.

Neat though that you could technically retire on just selling tradelines lol.

kpd905

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #260 on: August 13, 2016, 04:15:34 AM »
What this company told me is "We specifically need SSN, DOB, or address to post correctly." With the address on there it should work, but I don't think there are any guarantees. Your kids can check their credit report to confirm.

I have been a member for a few months now, and the company sent out an email in June with the following protocols for adding users:

Online

Bank of America name, SSN, birthdate, address

Barclaycard name, SSN, birthdate, address

Chase name, address

Capital One - name, SSN, birthdate, address

Discover name, SSN, birthdate, address

Fidelity Bank name, SSN, birthdate

PNC Bank name, SSN, birthdate

Synchrony - name, address

Worlds Foremost Bank - name, birthdate


Phone ONLY

BBVA Compass - name, birthdate

Citi Cards name, SSN

USAA name, SSN, birthdate (please refer to USAA Additional Requirements pdf)

U.S. Bank name, SSN, birthdate

Wells Fargo  - name, birthdate
« Last Edit: August 13, 2016, 04:20:44 AM by kpd905 »
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #261 on: August 13, 2016, 12:18:35 PM »
I want to do this.
I do not know all the outstanding cards that are in my and partner's name.
Do I get a credit report?
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #262 on: August 13, 2016, 02:09:26 PM »
I just don't like violating TOS if I can help it.   I try not to violate the TOS of the MMM forum, which I would hope Arebelspy appreciates.

Definitely!  :D  Though you certainly could, if you were willing to put up with the consequences (some warnings, temporary, and then eventual permanent bans).  Plenty have/do.  ;)

Quote
But we are controlling our income massively to get super cheap ACA healthcare insurance, which really is pretty damn gray too, so I will not cast stones here.  Heck, I even considered getting a mailing address in a more rural part of our state because the subsidy there is $200 more a month for the same exact plan we have.

Neat though that you could technically retire on just selling tradelines lol.

Hah, yeah.  Though I wouldn't count on this to FIRE on--just some extra bonus money to lower your WR temporarily or boost you to FI quicker.  :)

I want to do this.
I do not know all the outstanding cards that are in my and partner's name.
Do I get a credit report?

Sign up for Credit Karma, and what cards are listed on your credit report.  :)
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #263 on: August 15, 2016, 10:49:07 AM »
Posting to follow and to publicly lament the great Personal Finance Cleanup I did 2 years ago when I closed out a bunch of rarely used cards.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #264 on: August 15, 2016, 08:12:20 PM »
Posting to follow and to publicly lament the great Personal Finance Cleanup I did 2 years ago when I closed out a bunch of rarely used cards.

As mentioned earlier in the thread - call up and try to reopen them.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #265 on: August 15, 2016, 10:17:38 PM »
I'm all set up for two cards - chase and bofa,$306 and $400 respectively. I was warned however that the bofa might not appeal to people with the recent reporting issues.

Thanks ARS! I'll keep u posted.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #266 on: August 16, 2016, 12:37:11 AM »
Intriguing idea; I had never heard of this before. I got a referral from arebelspy and sent an email to the company he recommended.

Unfortunately I pared down my open accounts a few years ago, and closed the oldest ones with the highest credit limits because I wasn't using them. Now I only have one eligible account for certain, maybe two if I get a credit line increase, and they're both Chase cards. I also have a Lowe's store card; I asked the company if that can be used (authorized users have to be added by phone or mail, so that would be a bit more trouble.)

You may be able to re-open the closed credit lines.

Give the banks a call. If the first person says no, thank them, hang up and call again to get someone else.

Nice information - Citibank closed down an old credit card of mine that I have for a little over 15 years with a $30K limit.  I just hadn't thought about using it.  Now I know I can try to get it re-opened and hopefully resurrect my oldest account.

Also, the AU idea for boosting your family member's credit is great!  I never read up on that before and it is a great solution when someone asks you to co-sign on something (no, I can't co-sign, but I can do something else that will boost your credit).  Just added my teens to a couple credit cards.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #267 on: August 16, 2016, 06:59:04 AM »
Also, the AU idea for boosting your family member's credit is great!  I never read up on that before and it is a great solution when someone asks you to co-sign on something (no, I can't co-sign, but I can do something else that will boost your credit).  Just added my teens to a couple credit cards.

Yes indeed!  This is one aspect of personal finance that I didn't understand until reading through this thread.  My brother could use help in this department and I didn't realize there was a painless way to help him out until now.

Now I have to figure out if the AU limits that ARebelSpy posted earlier in the thread will include the real authorized users + the tradelines AUs.  So if my husband and brother are an AU on a card, does that knock out two AU spots from being tradelines eligible?

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #268 on: August 16, 2016, 07:09:28 AM »

Nice information - Citibank closed down an old credit card of mine that I have for a little over 15 years with a $30K limit.  I just hadn't thought about using it.  Now I know I can try to get it re-opened and hopefully resurrect my oldest account.


How long ago did they close it?  As a data point, they closed my Citi Forward card due to inactivity about a month ago.  I called about two weeks ago and asked them to reopen.  I finally got confirmation yesterday that the account was reopened, and it appears that the original account age is intact.  Good, because that was my oldest card by a few years.

I am not sure if they did a hard pull, I will try to find out.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #269 on: August 16, 2016, 08:59:36 AM »
How long ago did they close it?  As a data point, they closed my Citi Forward card due to inactivity about a month ago.  I called about two weeks ago and asked them to reopen.  I finally got confirmation yesterday that the account was reopened, and it appears that the original account age is intact.  Good, because that was my oldest card by a few years.

I am not sure if they did a hard pull, I will try to find out.

Interesting... maybe I need to be more aggressive about reopening one they closed on me a few months back.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #270 on: August 16, 2016, 09:00:24 AM »
Now I have to figure out if the AU limits that ARebelSpy posted earlier in the thread will include the real authorized users + the tradelines AUs.  So if my husband and brother are an AU on a card, does that knock out two AU spots from being tradelines eligible?

Yes, it does.

Although you could just not tell the company, and then they wouldn't know.  But they really have set the limits to protect you from having your CL closed; if you didn't tell them about the two family AUs then you'd be taking on more risk than they would recommend.

In my case I had my three kids as AUs on my oldest and largest line for several years.  I canceled those AU cards in order to do this.  I figure I can always stop this activity and re-add my kids at any time if I think it is important to do so.  All I need is about two month's notice to change directions, and I can't imagine any scenario where my kids will be that urgently desperate for credit that I would want to support in that way.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #271 on: August 18, 2016, 02:19:26 AM »
Now I have to figure out if the AU limits that ARebelSpy posted earlier in the thread will include the real authorized users + the tradelines AUs.  So if my husband and brother are an AU on a card, does that knock out two AU spots from being tradelines eligible?

Yes, it does.

Although you could just not tell the company, and then they wouldn't know.  But they really have set the limits to protect you from having your CL closed; if you didn't tell them about the two family AUs then you'd be taking on more risk than they would recommend.

In my case I had my three kids as AUs on my oldest and largest line for several years.  I canceled those AU cards in order to do this.  I figure I can always stop this activity and re-add my kids at any time if I think it is important to do so.  All I need is about two month's notice to change directions, and I can't imagine any scenario where my kids will be that urgently desperate for credit that I would want to support in that way.

That's a smart way to do it.  Credit history has no "memory" on how long the person has been an AU, so you don't need to keep the kids on as an AU, only when they need the credit.  As soon as you add them back as an AU, it boosts their score as soon as it posts (so within a month).  There's no "ding" for it only having been just added--it should be the same as if they had been an AU on there the whole time.  The obvious potential drawback is if your card gets shut down, and then you kid needs a credit bump--hopefully you have other cards not eligible for this program (or enrolled, but not shut down) that you can add them to, in that case.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #272 on: August 18, 2016, 02:20:52 AM »
Two major updates about the company I recommend.

First, regarding the slow response times discussed earlier in the thread, and them temporarily not accepting new signups: They've been working on a new back end system to more quickly and accurately verify all of the information of the people purchasing the tradelines (the AUs), which is a lot of their workload.

Them improving this has a double benefit for us who sell the tradelines of getting quicker response times when we have a question, as well as extra protection for us selling the tradelines from people using fraudulent information, which can lead to shut downs.  Less shut downs, and quicker responses are both good news!

This may take a bit to roll out as they have the new system in place, but we should see the benefits soon.  They are back to accepting signups now.

Second, they've trimmed down the cards they accept. They are now using the following credit cards:
Barclay
Citi
Discover
PNC
USAA
US Bank

Other cards tend to either have lower posting ratios (e.g. you will add the user, it won't post correctly, and you don't get paid--see, for example, the comments on B of A earlier in the thread, and my June payment info), higher rates of shut downs (see, for example, the Chase information posted in this thread), and require a lot of additional work on the back end to try to get them to post.

The cards from the above 6 providers tend to reliably post (so you get paid!), not get shut down (so you can continue selling tradelines!), both good things.

So good news, if you have one of those cards.  Bad news, of course, if you don't have one of them.

If you previously enrolled cards from other providers, they will continue to support them, they are just not enrolling any new cards from any providers except the above 6 (Barclay, Citi, Discover, PNC, USAA, US Bank).

As before, the cards opened with that provider must be at least two years old, with at least a $10,000 credit limit.  If you have cards that qualify and are interested in which company I use, send me a PM.  :)
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #273 on: August 18, 2016, 06:01:24 AM »
It is kind of a relief to me that they no longer accept Chase cards.  I was tempted to use them, but it seemed so risky when they could shut down all of your cards.  They've been the best company for churning, so I really didn't want to risk getting blacklisted by them.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #274 on: August 18, 2016, 06:39:33 AM »
It is kind of a relief to me that they no longer accept Chase cards.  I was tempted to use them, but it seemed so risky when they could shut down all of your cards.  They've been the best company for churning, so I really didn't want to risk getting blacklisted by them.

wait - Chase shuts down all of your cards? Not just the one you put AUs on?
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #275 on: August 18, 2016, 08:27:36 AM »
Two major updates about the company I recommend.
...[quote truncated]

Thanks for the update ARS, I'll keep an eye out here in case things change.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #276 on: August 18, 2016, 08:42:59 AM »
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #277 on: August 18, 2016, 09:08:51 AM »
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

its a slow season.  you will likely get at least one sign up right before your closing dates. if they have passed you'll be waiting til its right before them again.  sept - may is higher season ...
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #278 on: August 18, 2016, 09:17:37 AM »
Nothing yet for me but I only started with 1 card.  Hoping for an order this month, nothing last month.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #279 on: August 18, 2016, 09:49:49 AM »
No orders in August for me either.  Hopefully they bump up their marketing to balance demand with all this new found supply!

I may move some limits around to get over the 20k threshold before the busy season comes around.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #280 on: August 18, 2016, 10:54:16 AM »

Second, they've trimmed down the cards they accept. They are now using the following credit cards:
Barclay
Citi
Discover
PNC
USAA
US Bank


Thanks for the update. I sent you a PM.

Does anyone have an other trade-in company they could recommend as well? Thanks!
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #281 on: August 18, 2016, 12:23:50 PM »
I was able to get my Chase card enrolled a few weeks ago, as it's the only one I currently have that meets the requirements. My statement just posted and I did not receive any orders. As with a lot of other areas in our economy, August is a slow month, so I wasn't expecting much.

If you're a true churner, you probably would realize that Chase is losing valuable to hardcore churners because of 5/24. Although there are a few cards that are still available outside of that (Marriotts, etc.) there are very few that one can get. I doubt that I will be under 5/24 for the near to medium future, so I really don't value Chase as much as I used to.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #282 on: August 18, 2016, 02:33:42 PM »
It is kind of a relief to me that they no longer accept Chase cards.  I was tempted to use them, but it seemed so risky when they could shut down all of your cards.  They've been the best company for churning, so I really didn't want to risk getting blacklisted by them.

wait - Chase shuts down all of your cards? Not just the one you put AUs on?

Yes.  Chase is the riskiest.  From the OP:
Quote
In a worst-case scenario, the credit card company may shut down other lines and accounts you have with them besides that one card, and/or refuse to issue you new cards.  Chase is the only one I'm aware of that does this, so be careful with them, but the other companies, if they shut your card down (which is rare) will likely only shut down that one single card, not any other accounts with them, nor refuse to issue you any new credit.

Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

My orders are much less this month than the previous two also.  It has nothing to do with the extra Mustachians, just it being a slow season--there were much less orders placed, so even if no new Mustachians signed up, orders would have been very low.  This is part of why they didn't want new signups--people getting frustrated they aren't getting orders.  Give it a few months to normalize.  I'm not doing any projections or estimates until probably six months in, so I'll see some of the slow season, and some of the busier. :)

If you're a true churner, you probably would realize that Chase is losing valuable to hardcore churners because of 5/24. Although there are a few cards that are still available outside of that (Marriotts, etc.) there are very few that one can get. I doubt that I will be under 5/24 for the near to medium future, so I really don't value Chase as much as I used to.

Yeah, that's a good point, and may be why I start using Chase to add AUs again.  Also, as long as you're mitigating it (keeping the number of AUs low, keeping them on for months at a time--e.g. two AUs, you keep them on for 3+ months, etc.), it helps reduce the risk of cancellation.  Some CC companies you can have 5 tradelines, add them all, remove them a month later, rinse, and repeat.  With Chase, that'll get you shut down pretty quick, so reducing the number of AUs and the length of time you "churn" the AUs will help.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #283 on: August 18, 2016, 09:47:28 PM »
I was approved for my 2001 BofA card and my 1996 Chase Freedom card. When the market picks up again, I'll do no more than two trade-lines on Chase for a duration of 3-4 months to be safe. If they shut it down it's not the end of the world. For BofA, I'll take on one tradeline and see if they report.

We just moved to a higher COL area. I like the idea of these tradelines giving us a little margin on our monthly spending. 

Only if I'd opened that Barclays card 2 years ago for 40k or 50k reward points. I'm regretting having closed that Discover card back in 1998.  Actually - I regretted that in 1998.  Closing the Discover card was how I learned just how much history counts toward credit score. No one had ever taught me that - and I'd thought I was pretty financially savvy.

It makes me angry at the US school system. Basic financial literacy is one of the most important subjects to learn for life. But I suppose if people are financially illiterate, credit card companies and the like make more money. So they've got that going for them.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #284 on: August 19, 2016, 04:25:34 PM »
We just moved to a higher COL area. I like the idea of these tradelines giving us a little margin on our monthly spending. 

Yeah, it's definitely helping provide a cushion for us right now.  Just wrote 12k in checks for our summer property taxes (ugh, that's around half our personal spending), even having just a few thousand coming in from this is nice.

Whether it's decreasing someone's time to FIRE or reducing the SWR while in FIRE, if you have some of these cards, and are okay with the risk of getting them shut down, it's a pretty sweet gig, time-wise.  Will take it while it lasts.  :)

Quote
It makes me angry at the US school system. Basic financial literacy is one of the most important subjects to learn for life. But I suppose if people are financially illiterate, credit card companies and the like make more money. So they've got that going for them.

Sheesh, don't get me started.  The wife and I always did financial literacy lessons with our classes at the end of the year, after the state testing was over.  There really should be something systemic though.

We have a few random "personal finance" classes offered as electives, occasionally, but it's certainly not common.  I wonder... do other countries have financial literacy as part of the curriculum?
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #285 on: August 19, 2016, 06:10:15 PM »
Interesting. I may look into reopening a couple cards and switching them to no-fee versions. I also requested a limit increase on one card and will look into opening a few more even if there are no signup bonuses. Even if I need to wait 2 years, no harm in planning ahead.

Thanks for taking the time to write this out and answer all these questions, ars!

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #286 on: August 20, 2016, 07:19:13 AM »
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

It looks like I have 1 impending order (used the "click the check" trick to see what is up)

Card is 4+ years old, $15k.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #287 on: August 20, 2016, 02:53:49 PM »
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

It looks like I have 1 impending order (used the "click the check" trick to see what is up)

Card is 4+ years old, $15k.

We got 5 orders so far this month, much less than our average for the previous two months (and very low, based on the number of cards the wife and I have enrolled).  Another user who signed up PM'd me and said he got 2 orders.  So there are orders being placed, it's just a bit slow.  :)

Hopefully it'll pick up, but for me, even a few orders, or an order every month or two, is better than nothing.  And it does help ensure the card won't get cancelled, at the very least (small silver lining).

Right now I'd enroll cards, then see how it goes over the next 3-4 months--the holiday "shopping season" type time.  Judging it after only a few weeks during the slowest season may be a bit premature (just like if you signed up in a busy season, immediately sold out all tradelines, and then projected that to be the normal).  :)
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sirdoug007

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #288 on: August 22, 2016, 10:31:18 AM »
I just did all the paperwork to get started.  Looking forward to putting my old (2001) Discover card to good use! 

I've got to say I was pretty skeptical when this was first mentioned, but after looking into the details it looks legit and safe.  It seems that the types of cards that can be used have been seriously narrowed in a short time but I'll give it a go while it lasts.

It seems that Chase is really on to all the card hacking games.  I was recently denied a Southwest card for having too many new cards.  That would have netted me a companion pass too :(  Oh well, will just have to use the other cards that are a bit more lenient.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #289 on: August 22, 2016, 08:35:17 PM »
As an FYI, added my first AU (phone, only option) - I'll be trying to get my Discover limit up again soon.

Side note: The notifications are REALLY irritating. I got 5 texts + 5 emails, then 2 hours later got 1 text + 1 email as a "Urgent: The closing date is approaching..."

Send me a single message (or email + text) Wait til tomorrow before sending reminders. I did not need a dozen messages.
« Last Edit: August 22, 2016, 08:45:28 PM by TomTX »
Credit card signup bonuses:

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https://www.referyourchasecard.com/2/MU4TDQ1N3K

$50 bonus (no min spend, just use it once) plus double all cash back at the end of 1 year for Discover, including the initial $50:
https://refer.discover.com/s/37e3u

$500 bonus on $4,000 spend for Chase Sapphire Preferred:
https://www.referyourchasecard.com/6/Z8JIP66H7G

thepokercab

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #290 on: August 22, 2016, 10:29:48 PM »
As an FYI, added my first AU (phone, only option) - I'll be trying to get my Discover limit up again soon.

Side note: The notifications are REALLY irritating. I got 5 texts + 5 emails, then 2 hours later got 1 text + 1 email as a "Urgent: The closing date is approaching..."

Send me a single message (or email + text) Wait til tomorrow before sending reminders. I did not need a dozen messages.

That's odd. For my first tradeline I received just a single email and text.  Maybe if you inquire that is something they can fix. 

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #291 on: August 23, 2016, 06:57:21 AM »
Side note: The notifications are REALLY irritating. I got 5 texts + 5 emails, then 2 hours later got 1 text + 1 email as a "Urgent: The closing date is approaching..."

Send me a single message (or email + text) Wait til tomorrow before sending reminders. I did not need a dozen messages.

Heh, I think it was a glitch with their notification system--as thepokercab said, there's usually one text and one email (and then if you don't add them within a day or two, another one).

I did notice the same thing today though, I got 7 notifications on one order and 5 on another (and actually emailed about it, to let them know), but it's never been like that before, so no need to worry about getting bombarded with each order.  :)
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #292 on: August 23, 2016, 11:06:41 AM »
It's quite variable - on cards that had 2-3 AUs in past months, I had 0 this month, as well as the opposite (cards that in the first 1-2 months had 0, I received 2-3). I haven't received an order since the beginning of the month, but I am looking forward to seeing what the non-slow season brings!

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #293 on: August 24, 2016, 06:39:13 PM »
I just got approved so I'm waiting for my first bite.  One thing I noticed that I hadn't thought of when reviewing the process for adding authorized users - am I going to be getting all their personal info including SSN?  That seems like a risky move, on their part.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #294 on: August 24, 2016, 06:48:17 PM »
I just got approved so I'm waiting for my first bite.  One thing I noticed that I hadn't thought of when reviewing the process for adding authorized users - am I going to be getting all their personal info including SSN?  That seems like a risky move, on their part.

Yes, you will.  Part of the contract or agreement you signed says you won't use their personal information for nefarious purposes.  And although you could copy the information down, once you add them as an AU, your access to the information is removed.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #295 on: August 24, 2016, 08:09:44 PM »
The statement closing date for my citi card has changed a day or two from one statement to the next. Does it matter that I get that date exactly right?

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #296 on: August 24, 2016, 09:00:55 PM »
The statement closing date for my citi card has changed a day or two from one statement to the next. Does it matter that I get that date exactly right?

They purposefully set the date a few days ahead of your statement close, for a buffer, but for all of my citi cards I just gave them the earliest day of the month that it could fall on (e.g. a card would close the 11th, 12th, or 13th, I gave them the 11th).

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #297 on: August 24, 2016, 09:44:02 PM »

Second, they've trimmed down the cards they accept. They are now using the following credit cards:
Barclay
Citi
Discover
PNC
USAA
US Bank

I sent an email request to them a few weeks ago and then went on vacation before I got to do anything with it.  I was just reading through the FAQ that they sent me on 8/8.  It only lists 5 accepted banks.  It doesn't include PNC.  Can anyone confirm that PNC is currently allowed?  I sent them an email but figured I might get a faster answer here.

1. Barclaycard
2. Citi cards
3. Discover
4. USAA ​(check with us for additional instructions)
5. U.S. Bank 

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #298 on: August 25, 2016, 01:13:50 AM »
That seems like a risky move, on their part.

Hah, true.  At least it's not a risk for you.

And it's less risky when you consider the reason they're giving up their info (because they have bad credit--i.e. "stealing" their identity probably won't get you much).  There's a lot of ways to commit fraud, this isn't a good one.  ;)

Besides, why do something illegal (and for what payoff), when you can legally make tons of money with this?  :)

It definitely feels weird the first time you get their info (name, DOB, address, SSN, etc.).  Now I don't even notice, just cut and paste, cut and paste.  :)

Can anyone confirm that PNC is currently allowed?

I can confirm for you PNC works, but it is limited to 2 slots.  You should hear the same when you get a reply, and if I'm wrong, please update us, but my info is as of Aug 17.  :)
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enalynom

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #299 on: August 25, 2016, 06:46:42 AM »

Can anyone confirm that PNC is currently allowed?

I can confirm for you PNC works, but it is limited to 2 slots.  You should hear the same when you get a reply, and if I'm wrong, please update us, but my info is as of Aug 17.  :)

Thanks, I'll post an update when I hear from them.