Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 219161 times)

ketchup

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1800 on: November 14, 2017, 02:26:37 PM »
Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.
It would affect the client's 5/24 status potentially (if you add them to a <24mo old account), but it wouldn't affect yours in any way.

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1801 on: November 14, 2017, 02:47:41 PM »
Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.
Adding an AU does nothing to your credit report. Doesn't show up or affect it in any way.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1802 on: November 14, 2017, 04:28:13 PM »
+1 for supporting someone from the community to create one.

I'd be willing to assist with the web development and SEO pro bono.

Also, my good friend owns a real estate company and could definitely shuttle some leads as that seems to be the main stopping point.

Although it's obviously much easier said than done. Like many people here I have a personal business for my side hustles and what not but the management, accounting, etc would be all out of my area of expertise.

dragoncar

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1803 on: November 14, 2017, 04:52:49 PM »
Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.

A round?  I read that Chase will no longer approve a new Sapphire card if you already have one.

ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1804 on: November 15, 2017, 05:44:19 PM »
Has anyone else had to continuously prod the finance guy from the new tradeline company to get paid??? This is the second time out of the last two times that I've had to contact him about payment! I even waited well past the timeline laid out in their email. The first time I was fed the line that their accountant was on vacation over Labor Day weekend (still waited 5 days to get paid), this time I was told it was sent today and should post on Thursday. I can only wonder if it would have posted "today" had I not said something. I realize this is basically free money - I get it. But I really don't think I should have to constantly prod and poke to get paid! Anyone else have similar experiences?

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1805 on: November 15, 2017, 05:48:40 PM »
Anyone else have similar experiences?

Yes. =/
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
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flashflooder

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1806 on: November 16, 2017, 06:11:43 AM »
^^well, it's now Thursday and I haven't yet been paid for September adds.


Joel

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1807 on: November 16, 2017, 10:09:38 AM »
I eagerly signed up at the beginning of 2017, but I was only getting sales on an old but low credit limit card. Since they gave users the opportunity to cut prices on better cards, I have not received a sale. Itís been over six months. In all honesty, Iím thinking about closing my account as it seems to be a waste of time. Oh well the whopping $225 I earned was nice.

ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1808 on: November 16, 2017, 12:08:19 PM »
Was told the money should be in my account today... still nothing. I have not received an add for an AU since the first time I pointed out I wasn't paid back in September. Prior to that I was getting several AUs at least every other month. Coincidence? Possibly... doesn't feel like it though.

flashflooder

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1809 on: November 16, 2017, 01:21:15 PM »
I eagerly signed up at the beginning of 2017, but I was only getting sales on an old but low credit limit card. Since they gave users the opportunity to cut prices on better cards, I have not received a sale. Itís been over six months. In all honesty, Iím thinking about closing my account as it seems to be a waste of time. Oh well the whopping $225 I earned was nice.

Can you explain what you mean by the bolded bit?  Did I miss something?

Captain Mustache

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1810 on: November 16, 2017, 04:45:42 PM »
I eagerly signed up at the beginning of 2017, but I was only getting sales on an old but low credit limit card. Since they gave users the opportunity to cut prices on better cards, I have not received a sale. Itís been over six months. In all honesty, Iím thinking about closing my account as it seems to be a waste of time. Oh well the whopping $225 I earned was nice.

Can you explain what you mean by the bolded bit?  Did I miss something?

Basically, you can take a card that would be a better value to a potential AU (older, higher limit) and set it to a lower tier (cost them less, get paid less).

You could get potentially get more adds, but I'd consider it bad karma for the community as it's lowering the worth for everyone.

el_ingeniero

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1811 on: November 16, 2017, 06:54:00 PM »
I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?


dragoncar

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1813 on: November 16, 2017, 08:19:27 PM »
Holy crap - you're buying $30k worth of gift cards each month???

yeah, wut?  TEACH ME

tj

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1814 on: November 16, 2017, 08:35:54 PM »
I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?

You have to know that you'll get shut down eventually. It's not a sustainable practice. Read flyertalk.


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TomTX

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1815 on: November 17, 2017, 05:50:19 AM »
^^well, it's now Thursday and I haven't yet been paid for September adds.

September payout just showed up in my account (pending) this morning.

ACH can be slow because it is a "batch" process with a middleman between the banks. The sender cannot accurately predict when the ACH will show up in the recipient's account, nor when the recipient bank will clear it.

https://www.avidxchange.com/ach-vs-wire/

I recently began using Zelle when a friend needed to send me money. It's really easy, and really fast. Typically the payment shows up within seconds on my end (pending, but usable/added to the account balance) and fully clears no later than the next day.

You activate Zelle with your bank and give them an email address or phone number for Zelle. The sender does NOT need your account numbers or routing, they just need the email or phone you gave your bank - and at least with my bank, I used a different email address for Zelle, so the payer doesn't even need to know the email your bank uses to send you alerts/account resets/etc. This also allows you to quickly send money between your own accounts - you just give a different Zelle email to each bank.

Some formerly proprietary quick payment methods (ie ChasePay) are really Zelle now. A large chunk of major and minor banks support it: BoA, Chase, Ally, Citi, Capital One, USAA, US Bank, etc.
Credit card signup bonuses:

$150 bonus on $500 spend for Chase Freedom:
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

robartsd

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1816 on: November 17, 2017, 08:40:31 AM »
I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?
For tradeline sales, the balance on the closing date is the important thing. It should be small, but enough above zero to post to the credit report. I don't think a manufactured spending charge that got paid off before the statement closes would be a problem. I'm surprised that you have a manufactured spending system that is worthwhile for anything other than sign up bonus spending thresholds. The pattern others here have talked about here is is 1) open cards with big bonuses, 2) manufacture spending if needed to get the bonus, 3) convert to no fee product before paying annual fee if applicable, 4) offer for tradeline sales if possible after the card ages.

Spartans

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1817 on: November 17, 2017, 09:50:11 AM »
Holy crap - you're buying $30k worth of gift cards each month???

yeah, wut?  TEACH ME

reddit.com/r/churning/

Spartans

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1818 on: November 17, 2017, 09:53:08 AM »
I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?

You have to know that you'll get shut down eventually. It's not a sustainable practice. Read flyertalk.

Folks have been doing it for years so it has been sustainable. But yeah starting now is late in the game, wells are starting to all dry up.  Post office just announced no more gift cards for money orders so Walmart or other grocery stores are the go to.  YMMV with WMT though.

Or are you saying that selling tradelines is not sustainable?
« Last Edit: November 17, 2017, 09:54:55 AM by bw1985 »

tj

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1819 on: November 17, 2017, 11:01:12 AM »
I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?

You have to know that you'll get shut down eventually. It's not a sustainable practice. Read flyertalk.

Folks have been doing it for years so it has been sustainable. But yeah starting now is late in the game, wells are starting to all dry up.  Post office just announced no more gift cards for money orders so Walmart or other grocery stores are the go to.  YMMV with WMT though.

Or are you saying that selling tradelines is not sustainable?

IMO, selling tradelines is more likely to be sustainable than mega levels of manufactured spending on lucrative cards. If you're running a 2% card, you'll probably be fine, but your margins are going to be low with the activation fees and what not that it wouldn't be worth it for most people. If you're doing a 5% card, like the old vanilla visa's at a grocery store or drug store, or the old chase freedom where you got 10 points (10 cents) per transaction, adn you ran a script for a ton of micro-transactions, the bank canceled your card after a month or 2 it.

You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.
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Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1820 on: November 17, 2017, 12:42:13 PM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

And Redbird......and buying US Savings bonds with a credit card and no fee at $30k per person with a 6 month cashing in window (I got into that bigly).

There are still MS options out there.....and opportunities that purists would argue are not MS because, after all, I did pay 38 cents for that 20 gallon gas fill up.  :D

CanuckExpat

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1821 on: November 17, 2017, 04:28:35 PM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

It pays to have your finger on the pulse. Used to be "easy" and lucrative to MS, now it appears to be the Golden Age Of Bank Account Bonuses

Or perhaps it was. We were in for several thousand for the year in bank account bonuses (or like 20% of our retirement spending or something) and then all of a sudden we both started getting declined

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tj

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1822 on: November 17, 2017, 04:43:07 PM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

It pays to have your finger on the pulse. Used to be "easy" and lucrative to MS, now it appears to be the Golden Age Of Bank Account Bonuses

Or perhaps it was. We were in for several thousand for the year in bank account bonuses (or like 20% of our retirement spending or something) and then all of a sudden we both started getting declined

Easy come, easy go

Nice. It probably helps to have 2 people in your household since you can double up on all the offers.

Off topic,, but how'd you get paid to offer an opinion on fried chicken?
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arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1823 on: November 17, 2017, 07:08:13 PM »
^^well, it's now Thursday and I haven't yet been paid for September adds.

September payout just showed up in my account (pending) this morning.

ACH can be slow because it is a "batch" process with a middleman between the banks. The sender cannot accurately predict when the ACH will show up in the recipient's account, nor when the recipient bank will clear it.

https://www.avidxchange.com/ach-vs-wire/

I recently began using Zelle when a friend needed to send me money. It's really easy, and really fast. Typically the payment shows up within seconds on my end (pending, but usable/added to the account balance) and fully clears no later than the next day.

You activate Zelle with your bank and give them an email address or phone number for Zelle. The sender does NOT need your account numbers or routing, they just need the email or phone you gave your bank - and at least with my bank, I used a different email address for Zelle, so the payer doesn't even need to know the email your bank uses to send you alerts/account resets/etc. This also allows you to quickly send money between your own accounts - you just give a different Zelle email to each bank.

Some formerly proprietary quick payment methods (ie ChasePay) are really Zelle now. A large chunk of major and minor banks support it: BoA, Chase, Ally, Citi, Capital One, USAA, US Bank, etc.

+1. I've switched some of my tenants to using Zelle. It's pretty nice.

I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?

Totally.

You need to have utilization under 10%, but you can basically pay off all of the amount due except for like $3so then the statement closes with a $3 balance and reports., then pay that off (before it earns any interest).
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

tj

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1824 on: November 17, 2017, 07:18:41 PM »
Quote
but you can basically pay off all of the amount due except for like $3so then the statement closes with a $3 balance and reports

Make sure it's not a card that gives a credit for small balances, I'd have it closer to $10 for that reason.
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arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1825 on: November 17, 2017, 07:23:38 PM »
Quote
but you can basically pay off all of the amount due except for like $3so then the statement closes with a $3 balance and reports

Make sure it's not a card that gives a credit for small balances, I'd have it closer to $10 for that reason.

I haven't seen any credit that high, but sure, any small amount above what they might credit, basically. :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

CanuckExpat

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1826 on: November 17, 2017, 07:35:38 PM »
Off topic,, but how'd you get paid to offer an opinion on fried chicken?

It was through an online survey/market research company: Respondent
They are pretty thorough about the screening, you have to link your LinkedIn etc so they verify your title, but the surveys are pretty targeted and lucrative so it makes sense.

I haven't seen anything that involves eating food in a while unfortunately.
We were getting quite a bit of money from them for offering our opinion for a while, and recently nothing (though I haven't been checking the site), either as unemployed people we aren't that attractive anymore, or they have a lot more people offering their opinion on the site

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el_ingeniero

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1827 on: November 17, 2017, 07:59:02 PM »
Holy crap - you're buying $30k worth of gift cards each month???
Considerably less.  The credit card is not the only source of rewards.

el_ingeniero

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1828 on: November 17, 2017, 08:04:38 PM »
I do a fair amount of manufactured spend churning Visa Gift Cards either through online portals or for fuel rewards, mostly on my 2% cards with no annual fee.

It's worth about $600/month for 8 Walmart trips every month across a couple of credit cards.

As long as I pay off balances before the payment cycles close would I be OK, or should I get new credit cards to churn gift cards on?

You have to know that you'll get shut down eventually. It's not a sustainable practice. Read flyertalk.
No arbitrage is sustainable in the long term.  It gets harder and harder, and then the bubble pops.

I'm down to one Wally within the range where it's worth my time to do this.  When that goes, on to the next thing.

el_ingeniero

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1829 on: November 17, 2017, 08:10:21 PM »
Holy crap - you're buying $30k worth of gift cards each month???

yeah, wut?  TEACH ME

reddit.com/r/churning/
And then there's Flyertalk.  But truth be told the real action is now in small groups, either Facebook or Slack.  I think I prefer it that way.  A lot of manufactured spend depends on the locale.

Part of the problem with arbitrage is that if everyone knows the deal then things get too efficient and the profit opportunities dry up.
« Last Edit: November 17, 2017, 08:13:48 PM by el_ingeniero »

sol

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1830 on: November 17, 2017, 08:43:08 PM »
Part of the problem with arbitrage is that if everyone knows the deal then things get too efficient and the profit opportunities dry up.

We call that "the free market" and it's the crowning achievement of modern capitalism.

dragoncar

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1831 on: November 17, 2017, 11:29:29 PM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

It pays to have your finger on the pulse. Used to be "easy" and lucrative to MS, now it appears to be the Golden Age Of Bank Account Bonuses

Or perhaps it was. We were in for several thousand for the year in bank account bonuses (or like 20% of our retirement spending or something) and then all of a sudden we both started getting declined

Easy come, easy go


I never really got bank bonuses.  Sure you get $200, but you tie up 20k for six months.  Thatís a 2% return

LovinPSDs

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1832 on: November 18, 2017, 04:50:06 AM »




You need to have utilization under 10%, but you can basically pay off all of the amount due except for like $3so then the statement closes with a $3 balance and reports., then pay that off (before it earns any interest).
[/quote]

Is the 10% rule have some post date requirement?  I have a very mature card (7+yrs) with a 25K limit but have been using it for a decent portion of my life.  I would imagine there are plenty of months where I exceeded the 10%, especially back before it was higher limit.

Thanks! Kinda coming in late here as well, but very intrigued in Tradelines.

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1833 on: November 18, 2017, 06:29:14 AM »
Quote
You need to have utilization under 10%, but you can basically pay off all of the amount due except for like $3so then the statement closes with a $3 balance and reports., then pay that off (before it earns any interest).

Is the 10% rule have some post date requirement?  I have a very mature card (7+yrs) with a 25K limit but have been using it for a decent portion of my life.  I would imagine there are plenty of months where I exceeded the 10%, especially back before it was higher limit.

Thanks! Kinda coming in late here as well, but very intrigued in Tradelines.

Just on the months you have an AU on it. The past doesn't matter (except for all on time payments). There's no history of utilization stored on a credit report.
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el_ingeniero

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1834 on: November 18, 2017, 06:44:27 AM »
Part of the problem with arbitrage is that if everyone knows the deal then things get too efficient and the profit opportunities dry up.

We call that "the free market" and it's the crowning achievement of modern capitalism.
Yep.

Modern Capitalism decided to make it possible for me to acquire 350K AA miles without paying a dime out of my own pocket, and to use 260K of them to acquire $66,000 worth of business and first class plane tickets to vacation in SE Asia with my wife. And me with a 650 FICO score at the time.

In a nutshell, that was my introduction to the credit card game.  I know people who went through 10 or 12 of those signup offers as a couple.

Then Modern Capitalism woke up one day and decided to take that away from people who were late to the game.

I personally think it had way more to do with AA financing their impending merger with US Airways by selling a few bajillion miles to Citi. And Citi disposing of those miles any way it could, probably at a loss. Then Citi got tired of losing money on signup offers, so they stopped offering cards to anyone with a warm body. And AA got tired of carrying that few bajillion miles as a liability and devalued their loyalty program, and for a while made it impossible to redeem those miles for flights at more than 1/10th of a cent of airfare on the mile.

kingxiaodi

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1835 on: November 18, 2017, 06:52:51 AM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

It pays to have your finger on the pulse. Used to be "easy" and lucrative to MS, now it appears to be the Golden Age Of Bank Account Bonuses

Or perhaps it was. We were in for several thousand for the year in bank account bonuses (or like 20% of our retirement spending or something) and then all of a sudden we both started getting declined

Easy come, easy go


I never really got bank bonuses.  Sure you get $200, but you tie up 20k for six months.  Thatís a 2% return

There are plenty that require a direct deposit or a bill pay rather than a high balance. I have about $15k set aside to use for bank bonuses, and I've made ~$2k in bonuses this year. The two major issues with it are a lack of scalability (i.e. if I had a partner, I could have used $30k to get a $4k return, but no more) and a limited number of options (the last bonus I completed was in August). The site linked above (Golden Age Of Bank Account Bonuses) was really helpful to me if you want to learn more. I won't derail this thread any further.

newworld

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1836 on: November 18, 2017, 07:23:22 AM »
I am interested in starting this and seeing how well I can do with it.

What would expectations be as far as time spent and income (roughly) for credit lines like this:

Citi - $9,600 CL - 6yr 3mo
Capitalone - $10,500 CL - 4yr 11mo
Capitalone - $31,500 CL - 4yr 10mo
Capitalone - $10,000 CL - 4yr 9mo
Wells Fargo - $8,000 CL - 4yr 2mo
Barclay - $16,000 CL - 1yr 4mo
Chase - $22,000 CL - 1yr 4mo
Chase - $10,000 CL - 1yr 4mo
Chase - $10,000 CL - 10mo

All have perfect history, no late payments, etc.

Any information is greatly appreciated!

~NW

CanuckExpat

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1837 on: November 18, 2017, 08:02:01 AM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

It pays to have your finger on the pulse. Used to be "easy" and lucrative to MS, now it appears to be the Golden Age Of Bank Account Bonuses

Or perhaps it was. We were in for several thousand for the year in bank account bonuses (or like 20% of our retirement spending or something) and then all of a sudden we both started getting declined

Easy come, easy go


I never really got bank bonuses.  Sure you get $200, but you tie up 20k for six months.  Thatís a 2% return

There are plenty that require a direct deposit or a bill pay rather than a high balance. I have about $15k set aside to use for bank bonuses, and I've made ~$2k in bonuses this year. The two major issues with it are a lack of scalability (i.e. if I had a partner, I could have used $30k to get a $4k return, but no more) and a limited number of options (the last bonus I completed was in August). The site linked above (Golden Age Of Bank Account Bonuses) was really helpful to me if you want to learn more. I won't derail this thread any further.

I agree with kingxiaodi that you have to check each offer to see if it makes sense and that I shouldn't derail this thread further.
dragoncar if you are interested, there is a thread with more details here, and I posted a response with specific exampe to you there: Bank account churning: how to make $1600 in a year by being organized
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arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1838 on: November 18, 2017, 08:09:37 AM »
What would expectations be as far as time spent and income (roughly) for credit lines like this:
...

I'd really rather not answer questions like this in general, cause they're 1) Unknowable, and 2) I don't want people posting their list of cards all the time, and hoping to see some specific numbers, that will not make an interesting or useful thread.

Allow me to answer more broadly, and hope it will help others as well.

The young ones you may make a few hundred per year. The older a few thousand.  Overall I'd expect to see--given the current state of the market--maybe 5-10k for maybe 5-10 hours of work per year.

Could be significantly more (2x that), or less (to the point of $0), I'm just ballparking based on what others have seen. It tends to be feast or famine, lots of sales, or very few, so it's more likely to see one extreme than in the middle (i.e. very fat tails).

We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Gin1984

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1839 on: November 18, 2017, 08:13:31 AM »
You used to be able to buy coins from the US Mint and then deposit the coins in your bank account. Those were the days.

It pays to have your finger on the pulse. Used to be "easy" and lucrative to MS, now it appears to be the Golden Age Of Bank Account Bonuses

Or perhaps it was. We were in for several thousand for the year in bank account bonuses (or like 20% of our retirement spending or something) and then all of a sudden we both started getting declined

Easy come, easy go


I never really got bank bonuses.  Sure you get $200, but you tie up 20k for six months.  Thatís a 2% return
I've never tied up $20K.  Most of the time I get around $150 for $500-1000/month direct deposit.  That money does not sit there, I use it for my general expenses.  Normally there is a $1000 ish sitting there to avoid fees but that is it.

lmf

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1840 on: November 18, 2017, 09:04:06 AM »
Was told the money should be in my account today... still nothing. I have not received an add for an AU since the first time I pointed out I wasn't paid back in September. Prior to that I was getting several AUs at least every other month. Coincidence? Possibly... doesn't feel like it though.

Same thing happened here.  I used to get a sale on one card every month.  But then payment was super late one month and I emailed to ask about it.  Since then no sales.

LovinPSDs

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1841 on: November 19, 2017, 09:02:35 PM »
I'd be interested to know when Chase goes back live.  I think my card is a good candidate but not going to bother should Chase be on the radar.  I just doubled checked my credit report and that cards been open since 2008!!

hhauewr

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1842 on: November 19, 2017, 10:03:19 PM »
Old company is taking Chase again. Do you know if they take AU's SSN over the phone?

LovinPSDs

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1843 on: November 20, 2017, 06:52:24 AM »
Old company is taking Chase again. Do you know if they take AU's SSN over the phone?

I have not actually done it, but my web portal on Chase has an option to add AU online.

Spartans

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1844 on: November 20, 2017, 08:26:21 AM »
If the company catches on and shuts you down, do they only close that card or close all your accounts with them?  I'm concerned about it being the latter with Chase.  Wouldn't want to put my UR's in jeopardy for a few hundred bucks.

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1845 on: November 20, 2017, 08:56:03 AM »
Yep. All the other companies shut down the one card. Chase shuts them all down. I don't personally use Chase for this reason. Even though the rate of closures is low, not worth it to me.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Spartans

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1846 on: November 20, 2017, 10:14:14 AM »
Gotcha.  I only hold Chase cards so I guess I'm sitting this one out.

ARS - I think I saw that you had 500K UR's, did you accumulate all of those through churning? 

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1847 on: November 20, 2017, 10:32:55 AM »
Gotcha.  I only hold Chase cards so I guess I'm sitting this one out.

ARS - I think I saw that you had 500K UR's, did you accumulate all of those through churning?
Yep. Down to just under 400k now, we've been spending them recently without any efforts to accumulate more.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

JohnGalt79

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1848 on: November 20, 2017, 06:29:25 PM »
Yep. All the other companies shut down the one card. Chase shuts them all down. I don't personally use Chase for this reason. Even though the rate of closures is low, not worth it to me.

Do you know if checking/savings accounts would also be included in a shut-down scenario with Chase, or is it limited to the credit cards?

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1849 on: November 20, 2017, 06:59:59 PM »
That is my understanding, yes. All your Chase accounts, and I have heard accounts associated with your address (e.g. potentially spouse's accounts).  Further, they blacklist you from applying for new accounts, from what I understand.

I cannot confirm this.

I can confirm B of A just shuts down the one card, and this is the same with all other providers; just shut down the one card, and you can still get new accounts with them.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."