Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 220025 times)

JohnGalt79

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1850 on: November 20, 2017, 07:11:08 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.

Ok, thanks.  That's very helpful to know.

kpd905

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1851 on: December 03, 2017, 06:00:14 PM »
I should know this, but when is the payout?  I added two users on October 6th for an October 9th statement closing date.  Should I have gotten paid end of November or do they typically go a few days past?  It has been a while since I had an add.
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secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1852 on: December 03, 2017, 06:20:48 PM »
I should know this, but when is the payout?  I added two users on October 6th for an October 9th statement closing date.  Should I have gotten paid end of November or do they typically go a few days past?  It has been a while since I had an add.

For me it's usually between the 16th and the 21st of the month to receive payments.  So if you weren't paid on or around 11/20, I would look to be paid around 12/20.
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sol

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1853 on: December 03, 2017, 06:22:24 PM »
I should know this, but when is the payout?  I added two users on October 6th for an October 9th statement closing date.  Should I have gotten paid end of November or do they typically go a few days past?  It has been a while since I had an add.

As mentioned above by multiple people, we haven't had a single add since we complained about not getting paid one time.  Whatever you do, do NOT contact them to find out why you haven't been paid because it seems they will vindictively punish you if you're a "problem" account.   It's probably better to let them just screw you out of one month's AU fee rather than losing all AUs forever, which is what has happened to us after being a squeaky wheel.

This whole business model seemed vaguely shady from the outset, and nothing about my interactions with them has done anything to assuage that feeling.  You're effectively dealing in a black market, so you probably have to accept some degree of graft.
« Last Edit: December 03, 2017, 06:58:16 PM by sol »

topshot

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1854 on: December 03, 2017, 06:56:36 PM »
I would have thought that I wouldn't get paid until after I was told to remove them as AU. It would seem odd to me to be paid before the 60-90 days was up. I could end up removing them too early whether by accident or not.

Speaking of removing and adding, I see that I apparently have 2 new AUs on one card later this month to replace the current two. Is it wise to remove both in the same day and then add 2 others the next day? I'd think it would better to deal with only one AU at a time (i.e., never add/delete more than 1 per day or at least per call).

kpd905

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1855 on: December 03, 2017, 08:13:03 PM »
Whatever you do, do NOT contact them to find out why you haven't been paid because it seems they will vindictively punish you if you're a "problem" account. 

Interesting, thanks for the advice.  I wasn't going to contact them anytime soon because I figured I just forgot about the payment terms.  I am getting 3-5 adds per month on the old company, this was my first sale on this one in many months.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1856 on: December 03, 2017, 08:50:30 PM »
I would have thought that I wouldn't get paid until after I was told to remove them as AU. It would seem odd to me to be paid before the 60-90 days was up. I could end up removing them too early whether by accident or not.

Speaking of removing and adding, I see that I apparently have 2 new AUs on one card later this month to replace the current two. Is it wise to remove both in the same day and then add 2 others the next day? I'd think it would better to deal with only one AU at a time (i.e., never add/delete more than 1 per day or at least per call).

You can get paid before removal.  I have.  I think they reserve the right to claw back the payment if you screw up, but I'm not sure.

The official guidance I believe is to only add or delete in a single phone call but that it is OK to add multiple or delete multiple.  I prefer to only add or delete a single AU per phone call, but I'll happily do it all in the same day.  So if I were in your situation, I'd make four phone calls in a single day.
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max9505672

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1857 on: December 04, 2017, 06:59:50 AM »
Is this technique is not applicable in Canada?

ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1858 on: December 04, 2017, 07:37:20 AM »
So I was looking back at my order history for the year and noticed that one of my cards was paid at the wrong tier - it was put in as $75 but should have paid $175. I have an email from them that confirms the payout for that card should be $175 from before that AU was added. I just sent an email requesting the additional $100, and informing them that another card has moved tiers as well. We will see what the result is. I definitely like the payout tiers better at this company vs. the old company, but if things don't improve here with on time/correct payouts, I'll be moving all of my cards to the old company. I just moved one that had gotten no action with the new company and have already gotten a sale.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1859 on: December 04, 2017, 11:34:11 AM »
As mentioned above by multiple people, we haven't had a single add since we complained about not getting paid one time.

This has been my experience as well. I only had two adds before, but I've had zero since.

I hate to complain about free money, but I'm disappointed at how things have worked out so far.
« Last Edit: December 04, 2017, 11:37:56 AM by Optimiser »

Imustacheyouaquestion

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1860 on: December 04, 2017, 12:15:49 PM »

I hate to complain about free money, but I'm disappointed at how things have worked out so far.

I don't feel like it's complaining, nor is it free money. You have a contract with them. They are selling access to a product on your behalf.

I just chalk this inconvenience up to each tradeline actually being a few more minutes of work to set calendar reminders and politely follow up with the company. I had to follow up twice last month about a missing payment, but it did finally arrive on 11/20. Still had a sale for December on the same card. FWIW, I think the lack of sales is due to a glut of cardholders overall, not "retribution" for asking about money you're owed.

ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1861 on: December 04, 2017, 01:08:48 PM »

I hate to complain about free money, but I'm disappointed at how things have worked out so far.

I don't feel like it's complaining, nor is it free money. You have a contract with them. They are selling access to a product on your behalf.

I just chalk this inconvenience up to each tradeline actually being a few more minutes of work to set calendar reminders and politely follow up with the company. I had to follow up twice last month about a missing payment, but it did finally arrive on 11/20. Still had a sale for December on the same card. FWIW, I think the lack of sales is due to a glut of cardholders overall, not "retribution" for asking about money you're owed.

I certainly hope that you're right, but it is disappointing to see how many people have had to follow up for payment. You would think scheduling and sending payment should be relatively easy to automate. Even if you didn't automate payment, an automatic reminder on who is due payment each month would take just a few minutes to set up.

It's also disappointing that I have to be the one to point out when a card should move from one tier to the next. Again - you have the open date of every card in the system and your own payout schedule... why can't this be automated as well? Maybe I should ask if he needs some help figuring that out...?

charuhans

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1862 on: December 04, 2017, 02:28:21 PM »
Just putting out a data point - My payments were delayed for 3 months and each time I contacted them and they sent the payment promptly. Since last October my payment has been coming promptly by the 7th of the month. And I have had adds all the time I was "complaining". Also, in May I had a credit line increase which put me in a higher tier (I updated the info on their website by opening a ticket) but I was paid the lower rate the next month. I "Complained" and was promptly paid the difference with an apology. I'm just a regular member and have no other connection with the company. Make what you can guys from this data point.
« Last Edit: December 04, 2017, 02:30:00 PM by charuhans »

katsiki

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1863 on: December 04, 2017, 02:33:21 PM »
Just to add my 2 cents..

I think they are small and disorganized.  I have had good responses from the owner who seems to also do the accounting. 
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1864 on: December 04, 2017, 07:29:25 PM »
Just to add my 2 cents..

I think they are small and disorganized.  I have had good responses from the owner who seems to also do the accounting.

+1

flashflooder

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1865 on: December 05, 2017, 06:13:59 AM »
FWIW, I've had to contact them about payments and other misc small problems, and am getting more adds than ever.  So I don't think they're putting anyone on a naughty list.

ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1866 on: December 05, 2017, 09:57:11 AM »
Just to add my 2 cents..

I think they are small and disorganized.  I have had good responses from the owner who seems to also do the accounting.

I've always gotten good response from the owner - no issues there. I have had to follow up with him though for every single payment. His responses have ranged from "you read my mind" to "payment was sent out today" to my favorite "our accountant was on vacation." Each time, I've gotten the impression that if I hadn't followed up I'd still be waiting. I understand they are small and disorganized, but it's been a year now since arebelspy started recommending them. I just expected that would be enough time to iron these wrinkles out. I really hope this doesn't come off as me just complaining about "free" money, just wishing there were fewer issues is all.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1867 on: December 05, 2017, 10:03:53 AM »
I agree. The issues are disappointing.

I have continued to research other companies, have been talking with the newcomers mentioned earlier in the thread (sadly, still not at the point where I'd recommend them), and have been talking with old company again.

Easy money, yes, but also hassle factor is important.

I'm glad to hear for many of you it's going well. It is, of course, the ones who have a disappointing experience who vocalize it, but there shouldn't be any disappointing experiences, to be frank.

They're doing key things right, but dropping the ball on basic things, sadly. Will likely have more soon, once I have time to type stuff up, and may launch a 3rd TL thread at that point, as this one is getting so long and cumbersome.
« Last Edit: December 05, 2017, 10:05:24 AM by arebelspy »
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VeggieTable

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1868 on: December 05, 2017, 01:33:16 PM »
I have had an issue that I'm wondering if anyone else has encountered. I added a Capital One account with the new company, went a few months without an AU, then in October, finally got one. Added the AU, then a month later, Capital One decided to reduce my credit limit, for literally no reason. The best I could get out of them was that it was a "business decision" because I wasn't using enough of the credit line. My credit limit was $20,000 and is now $10,000. The card sat completely unused for 7 years, until about 6 months ago. During those 7 years (and years prior, when I was a college student and they felt I was trustworthy with $20,000 of credit), they didn't see fit to reduce my credit. I called and argued as best I could to get it increased, but go absolutely nowhere. Has anyone else had this happen?

I emailed the new TL company when my limit was reduced, as I'd had an AU for 30 days by that point, but they just said "thanks for letting us know". I had hoped they'd tell me how to approach it with Capital One, or let me know if this is a new trend.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1869 on: December 05, 2017, 01:47:25 PM »
Quote
Added the AU, then a month later, Capital One decided to reduce my credit limit, for literally no reason


I guess that's one way to kill tradeline sales. Instead of cancelling your card, they just give you a lower limit. That way they can still profit off your spending. :D
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ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1870 on: December 05, 2017, 02:02:05 PM »
It's funny, I had a Cap One card that was restricted until I provided them with all sorts of info on all of my AUs. The new company said they were going to shut my card down, so I just didn't do anything. I have since gotten another Cap One card and they never did close my other account. It's still restricted and I can't do anything with it, but it still shows up on my credit report. I figured I'll just leave it alone until such time as they see fit to either unrestrict it or close it. Cap One is weird when it comes to AUs though from what I've seen and heard.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1871 on: December 05, 2017, 03:11:26 PM »
Easy money, yes, but also hassle factor is important.

Probably me complaining about free/easy money, but the hassle factor has been enough of a problem enough with Citi that I don't think I want to bother continue to sell TLs on those card. You have to call in, they end up taking a while, putting you on hold, making lots of mistakes, and sometimes randomly drop the AU so it doesn't post. Probably still a decent pay off per hour, but not sure if I care for the hassle.

Prefer to stick to Discover et al that is all online and no real problems.
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arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1872 on: December 05, 2017, 03:38:39 PM »
Yeah, all mine are done online (Discover, Cap 1, Barclay, B of A--though B of A's removal is phone).

Waiting on hold sucks. At least you can browse the forums while waiting.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1873 on: December 05, 2017, 04:42:59 PM »
Quote
Yeah, all mine are done online (Discover, Cap 1, Barclay, B of A--though B of A's removal is phone).

That was my strategy, because I didn't want to bother with waiting on hold and trying to pronounce names, but half the time it wouldn't post.  I guess I just had a string of bad luck.
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FrugalZony

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1874 on: December 05, 2017, 06:35:40 PM »
Easy money, yes, but also hassle factor is important.

Probably me complaining about free/easy money, but the hassle factor has been enough of a problem enough with Citi that I don't think I want to bother continue to sell TLs on those card. You have to call in, they end up taking a while, putting you on hold, making lots of mistakes, and sometimes randomly drop the AU so it doesn't post. Probably still a decent pay off per hour, but not sure if I care for the hassle.

Prefer to stick to Discover et al that is all online and no real problems.
I have had similar thoughts with citi.

Has nothing to do with "new company" just the way citi organises things.
I have had a total of 4 adds to citi, 2 at a time. Payout is low, as it's a newer card.
Even when added online AUs don't always show. Calling in takes forever and they don't get what you want...

I have been toying with taking my citi card out of the portal once we are back on the road.
I have also been thinking about just taking the risk and skipping the call in part.
I know ARS often does not add the SSNs. So I could keep Citi on, do what I can online without calling in.
I'll see how the ones I just added a few days ago will post and then take a decision.
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DavidAnnArbor

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1875 on: December 05, 2017, 06:42:16 PM »
Easy money, yes, but also hassle factor is important.

Probably me complaining about free/easy money, but the hassle factor has been enough of a problem enough with Citi that I don't think I want to bother continue to sell TLs on those card. You have to call in, they end up taking a while, putting you on hold, making lots of mistakes, and sometimes randomly drop the AU so it doesn't post. Probably still a decent pay off per hour, but not sure if I care for the hassle.

Prefer to stick to Discover et al that is all online and no real problems.
I have had similar thoughts with citi.

Has nothing to do with "new company" just the way citi organises things.
I have had a total of 4 adds to citi, 2 at a time. Payout is low, as it's a newer card.
Even when added online AUs don't always show. Calling in takes forever and they don't get what you want...

I have been toying with taking my citi card out of the portal once we are back on the road.
I have also been thinking about just taking the risk and skipping the call in part.
I know ARS often does not add the SSNs. So I could keep Citi on, do what I can online without calling in.
I'll see how the ones I just added a few days ago will post and then take a decision.

I also had problems with my last 2 adds with Citi. In one case Citi added the AU, but then dropped it a few days later, so then I added the AU online. But now apparently it's not posting to all 3 credit reports. In the online process the social security number is not asked for, unlike when you call in.

Imustacheyouaquestion

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1876 on: December 06, 2017, 09:08:10 AM »
Citi also took away the option to remove AUs online. It used to be a button on the website, but now you have to call in. (I actually chatted with a customer service rep via online chat and she was surprised to hear this option went away -- they must have removed it without altering their customer support scripts). And the last time I called to add an AU, I had to transfer to a security specialist and answer additional questions, although this may have been because I called from a different phone number than the primary phone associated with my account.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1877 on: December 06, 2017, 09:31:09 AM »
I have been transferred to a security specialist before, no rhyme or reason why, but in the long run it was no big deal. You can remove online with Citi, you just need to send a Secure Message. I believe they outline that for you on the company's website (or it may be in the email you get to remove, I don't remember). The last ones I removed, I called one in and used a Secure Message with the other one. They were both removed within an hour.

topshot

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1878 on: December 06, 2017, 05:59:00 PM »
I would have thought that I wouldn't get paid until after I was told to remove them as AU. It would seem odd to me to be paid before the 60-90 days was up. I could end up removing them too early whether by accident or not.
Turns out I had been paid already for my first 2 adds. I was expecting some kind of notice from them or on their website, which makes it appear I hadn't been paid yet. I assume the add on the other card will be paid in a couple weeks since the closing date for it was about 3 weeks after the first card.

ThatGuy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1879 on: December 08, 2017, 04:34:25 PM »
I had requested the paperwork to sign up with the new company several months ago and then I started reading about all the issues everyone was having so I decided to wait.  I would rather miss out on some easy money rather than deal with the frustration many of you have been dealing with.  I was about to move forward until I read the recent posts.  Maybe I'll wait a little longer.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1880 on: December 09, 2017, 07:44:12 AM »
I would have thought that I wouldn't get paid until after I was told to remove them as AU. It would seem odd to me to be paid before the 60-90 days was up. I could end up removing them too early whether by accident or not.

Speaking of removing and adding, I see that I apparently have 2 new AUs on one card later this month to replace the current two. Is it wise to remove both in the same day and then add 2 others the next day? I'd think it would better to deal with only one AU at a time (i.e., never add/delete more than 1 per day or at least per call).

If I am removing AUs and don't have any to leave on - I just ask to remove all AUs.

One time, apparently a prior AU hadn't been properly removed, so that was caught and removed.
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powskier

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1881 on: December 10, 2017, 09:51:26 PM »
Well, 1 year in with new company and I made a total of $775, with only 5 AU's for the year. Very easy, worth my time but far less than I expected. Older cards, highish limits, 800 credit score.In January I'll be adding the Barclaycard now it is 1 year old, hopefully that will help.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1882 on: December 10, 2017, 10:41:40 PM »
The new company told me that cards had to be 2 yrs old minimum.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1883 on: December 11, 2017, 10:28:28 AM »
The new company told me that cards had to be 2 yrs old minimum.

At this point, they probably have a glut of cards.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1884 on: December 11, 2017, 01:01:25 PM »
Well, 1 year in with new company and I made a total of $775, with only 5 AU's for the year. Very easy, worth my time but far less than I expected. Older cards, highish limits, 800 credit score.In January I'll be adding the Barclaycard now it is 1 year old, hopefully that will help.
Anyone want to PM me the old company?
Doing better than me - $400 on 2 adds so far.  I think the supply is out-stripping the demand, at least at the one company.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1885 on: December 11, 2017, 03:35:00 PM »
I've had much greater success with the old recommendation.  I just wish they would take cards with lower limits but long history.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1886 on: December 11, 2017, 04:53:32 PM »
Just did my first AU removal with Bank of America - called in, went smoothly - except the agent caught herself at the end for a "new process" where she had to also type in notes about the removal, including the name of the AU being removed.

The extra time isn't an issue, but having notes typed up about AU adds and removals means more eyes will be on the AU adds and removals.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1887 on: December 11, 2017, 07:07:19 PM »
Bank of America shut down my cards today, I had added 3 users per card, greedy I know, and I believe I was told only 2 user per card was recommended. They had a fraud alert on my account, they lifted it, then I added another AU the next day. Oh well, I stil have my Discover card.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1888 on: December 12, 2017, 05:21:10 AM »
The new company told me that cards had to be 2 yrs old minimum.

At this point, they probably have a glut of cards.

They have had a glut of cards for a while. Some are seeing adds routinely while others, like myself, have not seen anything for months. They are taking one year old cards but also telling you that you probably won't see any sales until it's at least 2 years old. 

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1889 on: December 12, 2017, 11:14:51 AM »
I just got my first order for a citi card.   The instructions said I have to call in for citi, because if I do it online the ssn won't be entered.  I called and added the AU, and the citi rep said he was going to send a card to the AU address asap.  I requested he send the card to my address instead.  I was under the impression the cc company will never ship to the AU address, but he seemed very quick to get it sent to that address?

Just as a data point:  My payment for this add just landed in my checking account in the last couple of days.  I never had to contact the company.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1890 on: December 13, 2017, 06:47:15 AM »
I have to believe that the company has a glut of cards.  Seeing some posts here, it also seems like some people contact them and volunteer for lower payments, which I'm sure guides buyers to their cards.  Since January, with 4 cards, I've had exactly 3 AUs.  I'm grateful for the free money but have gone outside to the dark side and put one of my "resting" cards with another vendor.  2 AU's immediately were added.  This is a BoA card and I have 3 other newer cards with BoA so I really don't care if it gets shut down.  I also understand that BoA tends to only shut down the single offending card.

I'd rather not disclose who I'm going with now with my BoA card but am happy that I'll have some money coming in.  The "new" company here hasn't given me an AU in 3 months.

All in all, tradelines are great in my opinion.  I had none last year and now have somewhat of a stream of free money coming my way.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1891 on: December 13, 2017, 10:38:29 AM »
can anyone send referral for the first company?
thanks

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1892 on: December 14, 2017, 08:55:31 AM »
My understanding is that it will not work, that they show up because you are also personally liable, but it will not show up for AUs.

Be interesting to test it. Add one of your kids, then check their report free with credit karma or something in a month.

I added my wife as an AU to my capital one business card and its not appearing on her credit report which is weird since this is the first business card I've owned that has shown up on my credit report.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1893 on: December 14, 2017, 09:07:12 AM »
My understanding is that it will not work, that they show up because you are also personally liable, but it will not show up for AUs.

Be interesting to test it. Add one of your kids, then check their report free with credit karma or something in a month.

I added my wife as an AU to my capital one business card and its not appearing on her credit report which is weird since this is the first business card I've owned that has shown up on my credit report.

Correct, as I said, you are liable, so it shows up on yours. AUs on business accounts do not have it show up though.

Thanks for confirming! :)
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arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1894 on: December 14, 2017, 09:08:53 AM »
New info coming soon for both companies.

New company is dropping rates to be more in line with the industry.  They will be sending an email soon, and I'll be posting here soon.

Old company has changed some card requirements and limits.

Possible new recommendation coming soon.

Also new thread likely starting soon, this one is probably long enough.

Probably next week, as I'm currently in a bit of a personal situation with family.  Cheers!
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1895 on: December 14, 2017, 10:09:50 AM »
New here and to MMM in general.  I am interested in this and if someone sends me a referral I will gladly use it.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1896 on: December 14, 2017, 12:22:32 PM »
I'm not sure if this has been discussed yet but I can't find anything on it.  Also not sure if I should be starting a new thread, but I suspect I can get my questions answered in here.

Can you start an LLC and open a solo 401k selling tradelines?  Seems a bit dubious that I could start an LLC that could generate money by selling tradelines on my personal CC.  I've read comments that "it takes more than just creating an LLC to open a 401k, it must be a legit business", but also other comments noting that if you generate income on a 1099 then it could qualify you to open a solo 401k.

Assuming that is possible, could you then max your current 401k at your day job while also making employer contributions to your solo 401k using tradeline money?

It doesn't seem like it would be worth it for only a couple of tradeline sales per year, but if they figure out the supply/demand and tradeline sales go back up to what is claimed in the thread title it seems like it could be worth it to shelter extra money in a tax sheltered account.

Hopefully someone has done a lot more research than me and can save me the time of reading up on this on my own.


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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1897 on: December 14, 2017, 01:36:50 PM »
Can you start an LLC and open a solo 401k selling tradelines?  Seems a bit dubious that I could start an LLC that could generate money by selling tradelines on my personal CC.  I've read comments that "it takes more than just creating an LLC to open a 401k, it must be a legit business", but also other comments noting that if you generate income on a 1099 then it could qualify you to open a solo 401k.
You don't need an LLC to have a SoloK.  Not sure if selling tradelines is considered passive or non-passive.  I'd expect non-passive, but I'm not a tax attorney or accountant, and I'm probably not going to hit contributions to my SoloK this year to where "is this $400 from tradeline sales on your Schedule C passive or non-passive?" will matter.  You're providing all of the labor for your business, and this isn't a real-estate rental, so if I'm reading IRS Pub. 925 correctly, you have non-passive income.

Assuming that is possible, could you then max your current 401k at your day job while also making employer contributions to your solo 401k using tradeline money?
Unless you also are the employer at your day job, you've got it right.  You get 1 $18K deferral across all employers, but match is on a per-employer basis - if you've got generous enough employers, you could get the $54K limit at each one.  If you're involved in multiple closely held companies, can be a little complicated, but for most you can do exactly this - 401K at day job and SoloK for moonlighting.  I would mention - a SEP-IRA is probably better if you know you aren't going to do any employee-side contributions to the SoloK.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1898 on: December 14, 2017, 05:47:47 PM »
FrugalNacho,
The income is considered self-employment contractor income, so you can definitely fund a retirement account.  I ended up going with a SEP IRA because I am already maxing out a 401k at my job.  I will make around $3000 from tradelines this year, so I can put roughly $500 or so as the employer contribution to the SEP IRA.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #1899 on: December 15, 2017, 04:06:58 PM »
I'm not sure if this has been discussed yet but I can't find anything on it.  Also not sure if I should be starting a new thread, but I suspect I can get my questions answered in here.

Can you start an LLC and open a solo 401k selling tradelines?

I think some of your specific questions (LLC not needed) have been answered. We also discussed tax implications and strategies here
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