Author Topic: Selling Tradelines / Piggybacking: $1000+/hr, 20-40k/yr. Side Gig  (Read 119082 times)

Rubic

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #600 on: October 22, 2016, 07:14:41 AM »
Huge bummer.

Heh.  It could and probably will get worse.

For example, if I were running the company, I would set up a market for investors to
bid on the price they would be willing to sell their tradelines.  Given human behavior in
markets, this would have the effect of rapidly driving down rates.

We're probably seeing this occur anyway in slow motion with the tradeline
competitors forcing a shift toward gradually lowering compensation rates
to investors.  Markets deplore a vacuum.

kudy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #601 on: October 22, 2016, 09:12:10 AM »
It may, if they are lowering their prices, increase the volume of sales a bit at least. Will be interesting to see how it plays out!

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #602 on: October 22, 2016, 04:35:42 PM »
Huge bummer.

Heh.  It could and probably will get worse.

For example, if I were running the company, I would set up a market for investors to
bid on the price they would be willing to sell their tradelines.  Given human behavior in
markets, this would have the effect of rapidly driving down rates.

We're probably seeing this occur anyway in slow motion with the tradeline
competitors forcing a shift toward gradually lowering compensation rates
to investors.  Markets deplore a vacuum.

Sure. The company had tons of tradelines now, so with supply/demand so out of whack, they could afford to drop rates, knowing even if some investors left, they'd retain plenty of cards.

On the flip side, hopefully this will even out the supply/demand.  From what I understand, they aren't just paying lower commissions because they can, but they're dropping the prices charged to the AUs to be more competitive with other tradeline companies.  That will hopefully result in increased sales.

I'm hoping all the older investors who have been in for a year+ drop out due to being used to the higher prices, and all Mustachians are left.  ;)

Oddly enough, this change might actually MAKE me money.

It may, if they are lowering their prices, increase the volume of sales a bit at least. Will be interesting to see how it plays out!

Yup!  Depending on the volume, could still come out ahead.

Two sales a month at $125 (say on a card that has 5 spots)--3000/yr--is quite a bit better better than one every other month at $225--$1350/yr.

My estimate of income dropping from like 20-25k/yr to like 12k/yr is just a wild-ass guess.  I do have quite a few slots that aren't selling, so even with the price decrease, if volume goes up, I could make more as well.  As Kudy said, it'll be interesting to see how it plays out.  :)

Regardless, enjoying the ride.  It'll make for fun stories one day (like if you got to participate in the "gold coin" manufactured spending).
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TomTX

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #603 on: October 22, 2016, 06:42:16 PM »
Interesting. Apparently the tradeline company is in a significantly different timezone than I am. I was supposed to remove a user on 10/22, which is today for me in Texas. However, this evening the name was already replaced on the Tradeline page with "Purged Purged"  before I had even removed them. I went ahead with the removal with my CC company and then on the Tradeline page, where the removal date shows as 10/23.

[Mod Edit: Site name removed.]
« Last Edit: October 22, 2016, 09:48:38 PM by arebelspy »
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secondcor521

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #604 on: October 22, 2016, 08:44:53 PM »
Interesting. Apparently the tradeline company is in a significantly different timezone than I am. I was supposed to remove a user on 10/22, which is today for me in Texas. However, this evening the name was already replaced on the Tradeline page with "Purged Purged"  before I had even removed them. I went ahead with the removal with my CC company and then on the Tradeline page, where the removal date shows as 10/23.

I don't know when they do the "Purged Purged" thing, but I don't think that particular part is a TZ issue.  I have an AU that I am supposed to remove on 11/18, and it's already showing "Purged Purged".
« Last Edit: October 22, 2016, 09:49:09 PM by arebelspy »
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #605 on: October 22, 2016, 09:47:39 PM »
Interesting. Apparently the tradeline company is in a significantly different timezone than I am. I was supposed to remove a user on 10/22, which is today for me in Texas. However, this evening the name was already replaced on the Tradeline page with "Purged Purged"  before I had even removed them. I went ahead with the removal with my CC company and then on the Tradeline page, where the removal date shows as 10/23.

I don't know when they do the "Purged Purged" thing, but I don't think that particular part is a TZ issue.  I have an AU that I am supposed to remove on 11/18, and it's already showing "Purged Purged".

I've had that issue, too, where they purge the AU info before you're even supposed to remove them--I asked about it last month, and they were supposed to fix it.  Per customer support, I was told (Sept 20):
Quote
The problem has been fixed for future orders, so you will have the order information for 120 days after the order was placed.

It may be that those orders were in before that fix, or it may be that they haven't deployed that fix yet.

The easy way to check the name (if you want because you have to call to remove them--IMO it seems less suspicious to know the name you're removing) is to copy/paste the order ID (which stays on the site, not purged) into your email.  The commission statement were emailed has that order ID and will have the name.
« Last Edit: October 22, 2016, 09:50:36 PM by arebelspy »
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Malaysia41

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #606 on: October 22, 2016, 11:27:07 PM »
I'll still be happy getting $225 a month on my one remaining card. It's not $400, but it's practically free money. No complaints here.
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secondcor521

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #607 on: October 23, 2016, 11:18:51 AM »
This news from the tradeline company is exactly why I (A) jumped on it immediately for myself, (B) cringed a little because I knew advertising this gig would accelerate its partial demise, and (C) expressed some doubt about keeping cards and paying annual fees in case this gig were not to be around in another year.  On that last note, I have decided to keep the cards and try to get the AFs waived.

As someone who has been playing tricks and games profitably for about ten years, I wanted to say to everyone that if you're the kind of person who can take advantage of this deal, then:

1.  There will likely always be deals.  Companies will always have marketing departments with budgets, there will always be arbitrage opportunities in the system.  You just need to know where to research to find out about them, and have the thinking and organizational skills to exploit them.

2.  The deals will change over time.  Since I've been doing this, I've used three major exploits:  (a) borrowing on 0% credit card intro offers and investing the money in savings accounts at 5% interest, (b) opening cards for travel bonuses and MSing to get them, and (c) tradeline piggybacking as in this thread.

3.  Usually, as one exploit is being systematically eliminated by the system, a new one is being discovered by people who have the creativity to find and test them.  There are usually enough of these people who then communicate with bloggers and others on the Internet and the exploit can be found and understood by coat-tail people like myself.

4.  Think multiplication, and don't be too afraid to risk breaking a few eggs.  When I did the 0% offers, people would say, well, you can only get $10K off of one credit card, and if you borrow 50% of the limit to be safe, then that's $5K at 5%, and that's only $250.  True enough.  But what I did was 20 cards at $30K at 90%, and then you're talking $540K at 5%, which starts to look like real money.

5.  For me, it's worth it.  I'd find this fun to do even if I didn't get paid for it.  And getting paid $4K a year for it sure looks to me as though I have an extra $100K in the bank.

Main point:  there will always be deals.
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kpd905

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #608 on: October 23, 2016, 11:39:40 AM »

4.  Think multiplication, and don't be too afraid to risk breaking a few eggs.  When I did the 0% offers, people would say, well, you can only get $10K off of one credit card, and if you borrow 50% of the limit to be safe, then that's $5K at 5%, and that's only $250.  True enough.  But what I did was 20 cards at $30K at 90%, and then you're talking $540K at 5%, which starts to look like real money.


Damn, you are crazy.  That is some impressive stuff.  I only wonder what the next opportunity will be in case this tradeline stuff completely dies out.
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TomTX

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #609 on: October 23, 2016, 11:48:07 AM »

4.  Think multiplication, and don't be too afraid to risk breaking a few eggs.  When I did the 0% offers, people would say, well, you can only get $10K off of one credit card, and if you borrow 50% of the limit to be safe, then that's $5K at 5%, and that's only $250.  True enough.  But what I did was 20 cards at $30K at 90%, and then you're talking $540K at 5%, which starts to look like real money.


Damn, you are crazy.  That is some impressive stuff.  I only wonder what the next opportunity will be in case this tradeline stuff completely dies out.

If the money is sitting in the bank (well, banks) earning interest - it doesn't seem that risky.
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secondcor521

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #610 on: October 23, 2016, 03:53:16 PM »
^ Well, it does get a little scary when one has $250K sitting in IndyMac when they were taken over by the FDIC at a time when the per account FDIC limit was $100K.  Fortunately, I had structured my accounts in a way that protected me and I got every dime back.  But yes, it is perfectly safe as long as one makes no serious mistakes.

The larger point is that if you're willing to think about it and research it, there are many ways to make very decent side money, and that the strategies can carry over.  As a simple example, many people have spouses.  Spouses opened up opportunities for multiplication when doing the 0% credit card offers and investing at 5% - so I could have doubled that $540K to $1080K had I been married at the time.  But they also doubled things when doing travel rewards cards and manufactured spending.  They also doubled opportunities when doing piggybacking.  So that is a general strategy that will probably apply to the next thing that comes along.

And on the "breaking eggs" thing.  Part of the reason I was able to do $540K was that I ignored the people who told me I was  taking on too much risk and would get adverse action.  Not that I was naive to think it wouldn't happen to me, but in my case the downside risks were ones I was willing to take in order to try to get more.  And it turned out well - I think I had one small adverse action when people were expecting calamity.  My point here is that people can sometimes take things further than they think if they're just willing to step outside the box a little.  It freaks many people out when I tell them I have 22 credit cards, because that is outside the norm.  But 22 credit cards are easy to manage if you have a system and are well organized and take advantage of automation.  And after a while one gets used to being weird - like FIREing at age 46.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #611 on: October 23, 2016, 04:41:56 PM »
Damn 2Cor521.  Respect.  :D
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #612 on: October 23, 2016, 04:50:29 PM »
Mutual, ARS.  :D
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secondcor521

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #613 on: October 23, 2016, 05:00:32 PM »
If anyone wants to be amused by my antics, feel free to read:

     https://www.fatwallet.com/forums/finance/813161

I had misrembered my totals a little bit.  From the above thread (towards the end):

"Previous postings had my grand total listed incorrectly due to a circular reference in my Excel spreadsheet. It turns out that my grand total of BT's was $454,422. At the moment I have $451,719.85 owing on 19 different cards. BT's are on 15 cards, the other 4 cards are transient balances on three AM3X cards and my PenFed daily spender. Including my mortgage and student loan, I am in hock for $639,937.18, but I am earning a net after-tax 0.987% in interest on that amount. This will probably be the high point (or low point, depending on how you look at it) of this A0R."

I was into it a lot more back then.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #614 on: October 23, 2016, 06:11:49 PM »
If anyone wants to be amused by my antics, feel free to read:

     https://www.fatwallet.com/forums/finance/813161

That thread is pretty epic. :D
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RedwoodDreams

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #615 on: October 23, 2016, 06:28:03 PM »
Oh, I miss the days of the 5% CDs/savings accounts. I used to get 0% credit card check offers (which included 0% fees) and diligently open CDs, make the minimum card payments for a year, then cash out with a nice fat $500 in interest (on 10k) for doing nothing (except being organized). Plus the card payments were a kind of forced savings. Now I see only 1.49% savings rates max. and never see a credit card transfer check with a fee lower than 2% <sad tears>

I do admire the ingenuity described here, though...wow!

TomTX

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #616 on: October 24, 2016, 05:46:17 AM »
Another Tradeline site glitch. "Purged Purged" has reappeared, so I clicked "Removed" again and got another removed date.

Sent an email detailing the glitches, and a separate email inquiring about whether higher/custom rates could still be available for older cards.
« Last Edit: October 24, 2016, 07:02:43 AM by arebelspy »
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medinaj2160

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #617 on: October 24, 2016, 02:13:14 PM »
So which company can I sign up to sell my tradelines? I cannot find any links on the thread.

Thanks

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #618 on: October 24, 2016, 06:17:15 PM »
So which company can I sign up to sell my tradelines? I cannot find any links on the thread.

No links.  Read the thread and you'll find out why.  :)

The top of the first post has more details on when more info will be available (2017 with the current company, earlier if another good one is found).
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medinaj2160

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #619 on: October 24, 2016, 06:55:29 PM »
Thanks arebelspy. I will PM you in 2017 :) or please let me know if you find another company. I was away from the forums for sometime and missed this opportunity :/

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #620 on: October 25, 2016, 12:37:23 PM »
I have been renting my tradelines with the company you are discussing for about 1 1/2 years. I got the email over the weekend about the changes in compensation and new competitors hitting the market.  I am disappointed since I have more cards that will be hitting 2 years of age soon and I would like to include them. But I like the company I am working with and have yet to find others that seem as professional and credible.

I find it surprising that there is a surplus of investors with high credit limits and long credit histories.

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #621 on: October 25, 2016, 06:38:53 PM »
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

Commissions are about the same as the new ones, but potentially many more sales (i.e. hopefully no months with just 0-1 sales, but selling basically all your lines).

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)
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DavidAnnArbor

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #622 on: October 25, 2016, 06:47:48 PM »
Is  it the same company that I was looking at too Arebelspy ?

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #623 on: October 26, 2016, 02:10:52 PM »
Thank you for testing the waters!

medinaj2160

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #624 on: October 27, 2016, 10:11:05 AM »
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

Commissions are about the same as the new ones, but potentially many more sales (i.e. hopefully no months with just 0-1 sales, but selling basically all your lines).

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

Excellent. Please PM us the name of the company when you feel confident that it will work out.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #625 on: October 27, 2016, 10:29:41 AM »
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

Commissions are about the same as the new ones, but potentially many more sales (i.e. hopefully no months with just 0-1 sales, but selling basically all your lines).

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

How does their list of acceptable cards differ from the company we're all using?
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AM43

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #626 on: October 27, 2016, 10:33:09 AM »
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

Commissions are about the same as the new ones, but potentially many more sales (i.e. hopefully no months with just 0-1 sales, but selling basically all your lines).

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

Excellent. Please PM us the name of the company when you feel confident that it will work out.

+1

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #627 on: October 27, 2016, 10:38:51 AM »
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

Commissions are about the same as the new ones, but potentially many more sales (i.e. hopefully no months with just 0-1 sales, but selling basically all your lines).

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

Excellent. Please PM us the name of the company when you feel confident that it will work out.

+1

+2!

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #628 on: October 27, 2016, 02:59:37 PM »
"busy eating lentils in a van by the river"

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #629 on: October 27, 2016, 04:58:17 PM »
I definitely will keep you guys in the loop!

Be patient though--it takes a bit to evaluate everything.

With the current possibilty, I did the cardholder agreements, W9, got my cards enrolled.  Will need to sell some lines, see how their AU add process is, customer service is, posting, payment, etc. etc.

It won't be something that tomorrow I'll be on here saying "Yup, here we go"--it'll be a few weeks.  I don't want to rush into a bad decision, as I'll be using the program, too, and wouldn't feel right recommending something that I wasn't at least somewhat confident in.

Luckily, nothing is changing with the old company until December, so keeping the cards enrolled with them in November makes sense anyways.

And it may make sense afterwards--there's a good chance I evaluate several options and decide that sticking with the current one is the best move.  I don't know yet.  But I am thoroughly exploring.

And I'm letting them know it.  ;)

So many Mustachians enrolled led to less sales, but on the plus side represent a decent chunk of high tradelines, which is attractive for them, meaning possible negotiating room for us.

I sent this to several of them (slightly edited):
Quote
I'm looking at a number of factors: customer service, chance of cards getting shut down, number of tradelines sold each month, amount paid per tradeline, etc. etc.  So far I've been very happy with [current company], but it would be a disservice to the people asking for a referral for me not to look into other options as well.  Honestly, it's to my benefit to advise all the people already with [current company] to stay there, especially the higher limit ones, where I'm getting a higher commission.  But I can't ethically tell people to stay with a different company--even if that company is paying me more--if it's to that person's disadvantage.  I want to advise people to choose the better company for them, not the better company for me.

With that in mind, perhaps there could be some sort of "incentive" that's exclusively available to this group--a signup bonus after their first AU posts, a slightly higher commission schedule for the card holder, maybe custom quotes for higher end cards, etc.--something beneficial for them, not me, that would help tip the scales one way or the other.  If you're not interested in something like that right now, because you want to keep everyone on the same thing, that's fine, too, I'll just be comparing whatever info I have for them, baseline or otherwise.
(Emphasis original--I wanted to make that clear when they were focusing more on "wooing" me than benefits to you guys.)

So who knows.  I'll be choosing what I think is the best company, and I'll lay out why (and you all, of course, are free to decide for yourselves, or disagree, but I'll put all the information out there to make a choice), but if we can get a "perk" for Mustachians, too, that would be neat. 

It may even be useful to have some cards enrolled with one, and some with another, to try and get sales from both (on the theory that too many cards with one program could overload it, and you can't know how many investors they have versus incoming orders, so hedging your bets is a good idea), but I'll lay all that as well. :)

But, like I said, a few weeks.  It'll be as fast as I can, but some of it is waiting and evaluating how it goes.  :)
« Last Edit: October 27, 2016, 05:00:39 PM by arebelspy »
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secondcor521

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #630 on: October 27, 2016, 05:13:03 PM »
ARS, thanks for the work on our behalf.

Personally what's important to me is first, that they operate safely and ethically, like the current company does.

Second would be ease of management - I like the interface to the current system.

Third, I like the customer support I get from the current company.  I send an email, and I always get a response in a day or so.

Fourth, I would like to get paid well for large/old lines.  I have a 20-year-old $55K line that I'm getting a nice custom benefit from the current company, and I'll have a 2-year-old $58K line available about a year from now.

Thanks again!
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #631 on: October 27, 2016, 05:19:42 PM »
ARS, thanks for the work on our behalf.

Personally what's important to me is first, that they operate safely and ethically, like the current company does.

Second would be ease of management - I like the interface to the current system.

Third, I like the customer support I get from the current company.  I send an email, and I always get a response in a day or so.

Fourth, I would like to get paid well for large/old lines.  I have a 20-year-old $55K line that I'm getting a nice custom benefit from the current company, and I'll have a 2-year-old $58K line available about a year from now.

Thanks again!

100% agree.

Though maybe slightly different order, for me (I'd move up CS and down interface--I'd rather put up with a slightly clunkier interface, but have near instant responses to questions than a super smooth interface, but long delays to my queries--but that may be because I ask more questions).  :)

I'll be sure to lay out where is is stronger, or weaker, so if you prioritize differently, you can choose based on what's more important to you.

The first issue though, that's paramount.  If the company isn't trustworthy, or is shady, it's a no go from the start.

And I'm definitely bringing up the custom quote issue with every company (including the current one)--it may end up with that I have a different recommendation for large lines of credit than smaller ones, or something, but that's definitely a factor I'm looking at, too.
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Malaysia41

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #632 on: October 27, 2016, 10:24:16 PM »
@arebelspy -does new company block /accept a similar card list? I.e. do they not accept chase?

Thank you for doing this work. So much for 'minutes a month', huh? 
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #633 on: October 28, 2016, 01:27:59 AM »


@arebelspy -does new company block /accept a similar card list? I.e. do they not accept chase?

Very similar list, yes.

Chase is... Pending. Let's say it's in discussions/negotiations. ;)

With current company dropping Chase, I know a lot of people are wanting a place to enroll Chase. 

That may be another reason why recommendation may vary for different people.

But it is something I'm aware of and looking into. :)

Quote
Thank you for doing this work. So much for 'minutes a month', huh?

Haha, good point.  I'll have to revise my hourly figure on this whole activity!

The odd thing is, I find it fun.

Maybe it fulfills some of this need for me:
http://forum.mrmoneymustache.com/post-fire/i-miss-the-math/
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katsiki

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #634 on: October 28, 2016, 05:50:55 PM »
Question regarding Barclays cards...

I had some more activity this month which is great.  I thought I used to add SSN for Barclays but wasn't sure.  I looked at the company's AU FAQ and it shows that SSN should be added.  Screenshot shows that field below 'other' relationship drop down.  It's gone from the AU site option for the card. 

Has anyone noticed this?  If so, did the AU still post?  I have 2 this month that are now added w/o SSN.  Hoping they work!

Thanks for any info.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #635 on: October 28, 2016, 05:57:45 PM »
You should be fine, Kitsiki. You can check with the Tradeline customer service if you're worried, or even call and add the SSN over the phone, but I believe you should be fine. 
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #636 on: October 28, 2016, 06:18:04 PM »
Thanks ARS!  I received a reply (very fast!) from the company as well for anyone who is curious:

Thank you for bringing this to our attention. We are aware of the change. If you've added the authorized user online it should still report since they accept date of birth, name and address. We are in the process of updating our procedures to reflect this change.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #637 on: October 30, 2016, 01:29:57 AM »
When you call the credit card company to delete an authorized user, what do you say if/when they ask for a reason? Or, do they never ask?

I'm about to call to remove our first tradeline off of our BofA card. Just want to be prepared.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #638 on: October 30, 2016, 03:07:13 AM »
I've never had them ask. If they asked why I'm removing them, I'd just say I didn't want them to be an authorized user anymore.
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TomTX

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #639 on: October 30, 2016, 06:32:40 AM »
I've never had them ask. If they asked why I'm removing them, I'd just say I didn't want them to be an authorized user anymore.

When they have given me the warning about needing to retrieve the card, I tell them "Yes, I have already retrieved and shredded the card"
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Malaysia41

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #640 on: October 30, 2016, 06:57:01 AM »
I've never had them ask. If they asked why I'm removing them, I'd just say I didn't want them to be an authorized user anymore.

Well that was easy. DH just earned his half of the commission.

.... and .... Got another order. Woot.

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #641 on: October 31, 2016, 05:00:00 PM »
I just got a flyer in the mail from CITI.
They're encouraging me to add authorized users to my Double Rewards card!
"To earn cash back faster"!
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #642 on: October 31, 2016, 05:33:59 PM »
Just a PSA in case there is anyone else out there in my shoes:

I am enjoying this extra gig income.  I also have a 10th grader and am interested in qualifying for the simplified needs test or the automatic zero EFC for financial aid.

One way of qualifying for these programs is to file a form 1040A and to earn less than $50K.  Unfortunately, whether one files this gig income under a business on schedule C or as miscellaneous income on line 21 of one's 1040, it appears that one cannot file a form 1040A with this gig income.  Therefore, receiving this gig income starting January 1, 2017 appears to disqualify you from these college financial aid programs.

Depending on your FAFSA situation, what your college plans are for your high-school kids, and how much you think you'll make from this gig next year, it may affect what you do next year.

Personally I am leaning towards keeping the gig income and not trying to qualify, but others may decide to plan differently.
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arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #643 on: October 31, 2016, 06:57:31 PM »
That's a good point.  It is income, and will affect things like ACA subsidies, anything like that.

Generally income is good (in that vast, vast majority of cases, even if it "bumps" you to a higher tax bracket), but there are other things to be aware of surrounding receiving income.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #644 on: October 31, 2016, 07:13:56 PM »
Thanks for that tip about financial aid, secondcor. I guess that means you can't itemize deductions at all either (mortgage interest, gifts to charity, property taxes), etc. to qualify. Good to know because I have a 9th grader.

Has anyone received their Oct. pay stub via pay*.com? I thought it would come through today but don't see anything in there. Thanks.

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #645 on: October 31, 2016, 07:17:19 PM »
Has anyone received their Oct. pay stub via pay*.com? I thought it would come through today but don't see anything in there. Thanks.

The September one just posted.  If you had an October sale, it will be at the end of Nov (it takes a month to verify it posted to their credit report).

If you meant September, yes, I and my wife both received our paystubs.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #646 on: October 31, 2016, 07:18:13 PM »
Has anyone received their Oct. pay stub via pay*.com? I thought it would come through today but don't see anything in there. Thanks.

Yeah, I got an e-mail from them late last night.
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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #647 on: October 31, 2016, 08:45:12 PM »
Hmm...I had a Sept. sale, so if I didn't get paid, does that mean it didn't post correctly? Is that how you find out that it didn't go through, or is there some other indication?


ETA: Got an email 11/1 detailing my September payment. It isn't coming through pay*.com for some reason, and didn't post (yet) so I'm being prepaid with the understanding that I leave the card (which is on a 2-month cycle) authorized until later this month.
« Last Edit: November 01, 2016, 12:43:11 PM by RedwoodDreams »

arebelspy

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #648 on: October 31, 2016, 11:55:03 PM »
Hmm...I had a Sept. sale, so if I didn't get paid, does that mean it didn't post correctly? Is that how you find out that it didn't go through, or is there some other indication?

So payroll posts, and within a few days, you get a commission statement with your tradelines that posted.  It also shows the ones that didn't.

I don't know if they send one out if you had $0 in commissions just to show the non-posted ones, because you didn't have any sales that did post.  So you may, or may not receive that (let us know if you do).  You should also be able to login to the tradeline site where you got the AU info, and it should say if it didn't post correctly, and have their credit report as proof (or you may need to request this).

In any case, I'd just email the customer service.  :)
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boarder42

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Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
« Reply #649 on: November 01, 2016, 08:06:43 AM »
well i've moved 2 cards to another site for now see how it goes.  i havent gotten any adds this month from the site we overloaded.  i guess i could see some today but i doubt it. new site says they will have no problem filling me up monthly
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