Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 1149591 times)

chuckster

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How do you calculate SEP IRA? Would you be able to share the formula? Is it applicable to a person with a full time job who already contributes to  401K and ROTH IRA and is ineligible for a tax-deductible IRA?

Turbo Tax should be able to calculate how much you are eligible to contribute. I think with a 401K and Roth IRA you can still have an SEP IRA, but, the exact effect of your primary employer 401k on the limit you can contribute I don't know... I'm not close enough to the maximums to worry about it myself, so I haven't looked it up.

IIRC: Take your total earnings for the year from your 1099 Misc, Box 7. (Starting in 2018, I think you can first subtract 20% as a new "pass-through deduction", but I haven't gotten clarity yet on whether that applies to tradeline earnings). Then I estimate federal taxes owed based on my marginal federal rate, and state taxes I'll owe from my marginal state tax rate. Then, take 92.35% of your total from your 1099 Misc Box 7, and multiply that by 15.3%, to get what you owe in FICA. Half of that FICA can be your deduction for an SEP IRA.

To calculate the total you can actually contribute to the SEP IRA, take your 1099 Misc Box 7, subtract half of the above FICA to get a net income, and then 20% of that can be contributed to an SEP IRA (all the way up to $55,000, if you made like $300k in tradeline sales :P ).

All that should be checked with a tax advisor, yada yada, but the numbers I got in Excel matched what Turbo Tax gave me for 2017 and the Vanguard calculator (https://personal.vanguard.com/us/SbsCalculatorController), so, I think I'm right for me. You mileage may vary and all of that.

kpd905

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

katsiki

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

Me too.  I think I learned about it from one of your posts too!

DavidAnnArbor

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You can do a SEP-IRA and it's not limited by your 401k deductions, it's entirely separate.

You can also do an individual 401k but if you're already maxing out your employee deduction at your main job, then it may not be worth all the extra work to get an individual 401k going - since you'll be just entitled to the employer deduction part and therefore would be the same as the SEP-IRA.

ravevan

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From what I understand, this has been true for at l ast 2 years but the industry is still going strong.

MasterStache

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

Short of not wanting to do all the math is it pretty safe to just throw 20% of whatever I earn in a SEP IRA? I did some part time work for my old company and earned quite a bit of non-taxed income on top of bank bonuses and selling tradelines.

katsiki

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

Short of not wanting to do all the math is it pretty safe to just throw 20% of whatever I earn in a SEP IRA? I did some part time work for my old company and earned quite a bit of non-taxed income on top of bank bonuses and selling tradelines.

Yes, in my opinion.

Vanguard and Fidelity both have calculators online as well to help.

lmf

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Has anyone gotten mail for their AUs from a different credit card company than the one you added them to?  I added an AU to my US Bank card last summer and just got mail from Discover for them marked 'Statement enclosed'.  Like they used my address to open an account at Discover or something.  What do I do with it?  I was thinking of marking it 'Not at this address. Return to sender'.

jdecandia

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Hey everyone!

I have PM'd Arebelspy, but if his travelogue/blog is anything to go by he is probably out and about adventuring and has had little time to get back to my message.

I am wondering if any of you could PM me with suggestions for a reputable company or the experiences that you have had with your companies.

Thank you!

secondcor521

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Hey everyone!

I have PM'd Arebelspy, but if his travelogue/blog is anything to go by he is probably out and about adventuring and has had little time to get back to my message.

I am wondering if any of you could PM me with suggestions for a reputable company or the experiences that you have had with your companies.

Thank you!

PM sent to you with all the info.

startbyservingothers

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From what I understand, this has been true for at l ast 2 years but the industry is still going strong.

I believe most banks use the "Mid Score"  (The second highest score.)  For mortgage approvals.  So if you boost at least 2 of their scores, then that is likely enough to get them approved.

MsFrugalista

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Has anyone gotten mail for their AUs from a different credit card company than the one you added them to?  I added an AU to my US Bank card last summer and just got mail from Discover for them marked 'Statement enclosed'.  Like they used my address to open an account at Discover or something.  What do I do with it?  I was thinking of marking it 'Not at this address. Return to sender'.

Not sure about mail since I use a virtual mailbox and any mail that is not addressed to the specified recipients gets shredded automatically. However, I have received phone calls for AUs from banks not associated with the card I had added them to. I think these are banks/debt collectors who are looking for these individuals. I just state that they have reached the wrong number and they apologize and let me know my number will be removed. I have yet to receive more than one call for the same individual.

I used to provide my phone number for the AU (some banks require this when adding them online), but now I have stopped doing that and instead provide another number so I don't get such phone calls.

katsiki

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Has anyone gotten mail for their AUs from a different credit card company than the one you added them to?  I added an AU to my US Bank card last summer and just got mail from Discover for them marked 'Statement enclosed'.  Like they used my address to open an account at Discover or something.  What do I do with it?  I was thinking of marking it 'Not at this address. Return to sender'.

No, sorry, no experience with that.  If it happens again, I might wonder more about it.  If you only see it once for 1 AU, I wouldn't worry about it.

Car Jack

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Finally got an ad with the old company.  Opened when Joe mentioned it here and the bonus money for the first sale was included.  Looking forward to getting some money off tradelines again.  It's been a loooooong time for me.

cnel85

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Hey everyone!

I have PM'd Arebelspy, but if his travelogue/blog is anything to go by he is probably out and about adventuring and has had little time to get back to my message.

I am wondering if any of you could PM me with suggestions for a reputable company or the experiences that you have had with your companies.

Thank you!

PM sent to you with all the info.

If it's not too much trouble, could you PM me with the info as well? Thanks :)

katsiki

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Finally got an ad with the old company.  Opened when Joe mentioned it here and the bonus money for the first sale was included.  Looking forward to getting some money off tradelines again.  It's been a loooooong time for me.

Wishing you lots of luck!  They are keeping me busy.

TheOnlyJustin

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If someone could PM me the information that would be greatly appreciated! I am assuming the OP gets tons of messages and hard to keep up with travel schedule. Thanks guys!

secondcor521

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PMs sent to @cnel85 and @TheOnlyJustin.

arebelspy

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Just PM me if you want a referral/more info/have questions.

While I am coincidentally traveling today (in an airport lounge at the moment), I respond to all PMs within 24 hours, and typically much shorter. Please don't clutter the thread with "PM me referral please!" :)
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dragoncar

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Just PM me if you want a referral/more info/have questions.

While I am coincidentally traveling today (in an airport lounge at the moment), I respond to all PMs within 24 hours, and typically much shorter. Please don't clutter the thread with "PM me referral please!" :)

They allow chatbots in the lounges now?

elysianfields

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

secondcor521

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

I have the Barclays Aviator MasterCard, which means it must have come with a signup bonus of a few hundred dollars - $400 in my case IIRC.  I think there are a few flavors of the Aviator card.  For whatever reason, it has been popular with the AUs.

katsiki

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

Any barclays card is good.  NFL card offers $200 cash back from time to time.  Right now, it is only $100.  I would go with that or any other BC card w/o annual fee.

https://cards.barclaycardus.com/cards/nfl-extra-points-credit-card.html

FrugalSaver

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Can the miles earned with the Barclays Aviator card (they have a 50,000 bonus going now with the $95 annual fee) be merged with miles from an AAdvantage card? 
I already have an aAdvantage card with 100,000s of miles and would be interested in being able to pool them.

MsFrugalista

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Can the miles earned with the Barclays Aviator card (they have a 50,000 bonus going now with the $95 annual fee) be merged with miles from an AAdvantage card
I already have an aAdvantage card with 100,000s of miles and would be interested in being able to pool them.

What do you mean by AAdvantage card? Are you referring to the Citi AAdvantage card? The Barclays Aviator card is also an AAdvantage card.

If so, Assuming you're providing both Barclays and Citi with the same AAdvantage number with your application, all your points/miles earned will be posted to your American Airlines AAdvantage account. No need to do anything extra to pool or combine them.

RedwoodDreams

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

Me too. Did you receive the new Shitibank replacement card yet? I haven't ... Also, when I try to log into the barclays site for the Bean Visa (old card), I'm now locked out for "security reasons." Did this happen to you as well? Wondering if it has to do with transition to the new card or if they're on to me about all the AUs I've added.

I agree, adding and removing AUs was SO easy. Bummer.
« Last Edit: July 01, 2018, 12:26:46 PM by RedwoodDreams »

beekayworld

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I received an email from the new company that they will no longer accept  USAA, Cap 1, US Bank, or Elan. They expect it to be temporary while the companies do internal reviews. It's too bad because my CapitalOne has had two adds every two months.
« Last Edit: July 02, 2018, 05:03:45 PM by beekayworld »

BC_Goldman

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I received an email from the new company that they will no longer accept  USAA, Cap 1, US Bank, or Elan. They expect it to be temporary while the companies do internal reviews. It's too bad because my CapitalOne has had two adds every two months.

I'm still waiting for my first add. Someday!

MasterStache

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I received an email from the new company that they will no longer accept  USAA, Cap 1, US Bank, or Elan. They expect it to be temporary while the companies do internal reviews. It's too bad because my CapitalOne has had two adds every two months.

Last time USAA was supposedly doing an internal audit, my card was on hold for 6-7 months. Ugh!

ducky19

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Holy crap, I just got an add for my Chase card! I've had it enrolled for a year and a half, but never had a single AU - which is a shame, because it's got a $30k limit and is 14 years old. Anyone have any experience with how these post? I wonder if that has anything to do with the other issuers being pulled for the time being...

secondcor521

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Holy crap, I just got an add for my Chase card! I've had it enrolled for a year and a half, but never had a single AU - which is a shame, because it's got a $30k limit and is 14 years old. Anyone have any experience with how these post? I wonder if that has anything to do with the other issuers being pulled for the time being...

They post just fine.  IIRC they're a call in.

If new company is pulling cards from a bunch of other issuers, it would make sense that the remaining cards for sale would get more orders.

beekayworld

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Holy crap, I just got an add for my Chase card! I've had it enrolled for a year and a half, but never had a single AU - which is a shame, because it's got a $30k limit and is 14 years old. Anyone have any experience with how these post? I wonder if that has anything to do with the other issuers being pulled for the time being...

Interesting! Was the same person added to one of your other cards? They said that Chase had to be paired with another card. I don't know if that was in order to report correctly, in which case it should still be the case; or if it was the company's own guideline to keep Chase from being suspicious.  In that case, they may have loosened their own guidelines in order to have cards they can offer (Chase) while having to rest so many other card brands.

There was no mention of Chase in the email.
« Last Edit: July 03, 2018, 11:36:31 AM by beekayworld »

katsiki

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FYI, Barclays AU limit (if it exists) must be more than 36 AU's.  I had asked earlier in the thread and others mentioned or asked as well.  If I hit a limit, I will post again.

Happy 4th, yall!  :)

EscapeVelocity2020

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Just PM me if you want a referral/more info/have questions.

While I am coincidentally traveling today (in an airport lounge at the moment), I respond to all PMs within 24 hours, and typically much shorter. Please don't clutter the thread with "PM me referral please!" :)

They allow chatbots in the lounges now?

@dragoncar Nicely done...

hay_otsuka

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FYI, Barclays AU limit (if it exists) must be more than 36 AU's.  I had asked earlier in the thread and others mentioned or asked as well.  If I hit a limit, I will post again.

Happy 4th, yall!  :)
Closer to 50 ime

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FrugalSaver

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Can the miles earned with the Barclays Aviator card (they have a 50,000 bonus going now with the $95 annual fee) be merged with miles from an AAdvantage card
I already have an aAdvantage card with 100,000s of miles and would be interested in being able to pool them.

What do you mean by AAdvantage card? Are you referring to the Citi AAdvantage card? The Barclays Aviator card is also an AAdvantage card.

If so, Assuming you're providing both Barclays and Citi with the same AAdvantage number with your application, all your points/miles earned will be posted to your American Airlines AAdvantage account. No need to do anything extra to pool or combine them.

Yes my other one is an citi AAdvantage

BritannicaMM

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

EscapeVelocity2020

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

Just interested - for someone like you new to Tradelines and reading about all the cards shut down and possibly increasing risk, how do you come to the conclusion that it is worth the (steadily declining) income?  Also, as a disclaimer, I don't see this living up to the headline '20 - 40k/yr side gig', even in its heyday.  Maybe a 2 - 4k side hustle or a 40 - 200k full on business opportunity, from what I have been reading, personally.  But owning a Tradeline business might eventually expose you to fraudulent activity against the interest of some very deep pockets, not to mention that you could be facilitating some criminal activity you would probably not want to be associated with...

I dunno, my personal jury is still out on this, otherwise I would have recommended it to folks that I know need the extra money and have the credit history to offer.

Orin!

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In the last 30 days Iíve sold and added 26 of my lines for a total of $3,100.

Not too bad considering I only heard of selling tradelines 35 days ago

And a majority of those lines have already confirmed as posting on the buyerís report.

Orin!

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

Just interested - for someone like you new to Tradelines and reading about all the cards shut down and possibly increasing risk, how do you come to the conclusion that it is worth the (steadily declining) income?  Also, as a disclaimer, I don't see this living up to the headline '20 - 40k/yr side gig', even in its heyday.  Maybe a 2 - 4k side hustle or a 40 - 200k full on business opportunity, from what I have been reading, personally.  But owning a Tradeline business might eventually expose you to fraudulent activity against the interest of some very deep pockets, not to mention that you could be facilitating some criminal activity you would probably not want to be associated with...

I dunno, my personal jury is still out on this, otherwise I would have recommended it to folks that I know need the extra money and have the credit history to offer.

I had this same concern and that is why I did my homework as to how these identities are verified. You do not want to add your tradelines to synthetic identities or cpns. Do your homework on how your company is verifying this.

I also found after digging into my motherís finances she has been being robbed by banks for centuries with ridiculous interest rates. So first I fixed her finances up. But the amount of people out there needing help with their finances in this is sky high - and most donít even know it. It funnels enormous amounts to some big wig banker which I donít care to support. So if I can help someone get their feet back up in the credit world I am ok with that. As long as my credit tradeline vendor is doing their process to verify these are real people then I am all good. I will not stand to be added to fraudulent identities to Eli reinforce a synthetic identity which also leads to more shit downs. This area is where I did my own homework the most.

EscapeVelocity2020

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I had this same concern and that is why I did my homework as to how these identities are verified. You do not want to add your tradelines to synthetic identities or cpns. Do your homework on how your company is verifying this.

I also found after digging into my motherís finances she has been being robbed by banks for centuries with ridiculous interest rates. So first I fixed her finances up. But the amount of people out there needing help with their finances in this is sky high - and most donít even know it. It funnels enormous amounts to some big wig banker which I donít care to support. So if I can help someone get their feet back up in the credit world I am ok with that. As long as my credit tradeline vendor is doing their process to verify these are real people then I am all good. I will not stand to be added to fraudulent identities to Eli reinforce a synthetic identity which also leads to more shit downs. This area is where I did my own homework the most.

Wow Orin, that was a quick response!  Glad to hear of your (low posting) success in the past that you just now want to share.  I'm keeping an open mind, but that certainly didn't win me over without reservation.

BritannicaMM

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Oh, I have concerns of course. Mostly I just wanted to say that I appreciate everyone's knowledge. I'm not even sure it'll be worth the risk after I do my own research. I guess my prevailing thought is, while the heyday of this activity is probably over, my credit cards are just sitting there. I mostly use one card to pay all my bills (within my means) and then pay it off every month in full. It earns some cashback and keeps me from using my bank account directly. I've thought about canceling them all since I have no desire to live off of credit but that seemed short-sighted and it's ingrained in me to keep a good credit score as well as worry about the "just in case." I won't die if they close and I'm not expecting to farm them all out and make 20K. Just another small sideline is just that.

arebelspy

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

Just interested - for someone like you new to Tradelines and reading about all the cards shut down and possibly increasing risk, how do you come to the conclusion that it is worth the (steadily declining) income?  Also, as a disclaimer, I don't see this living up to the headline '20 - 40k/yr side gig', even in its heyday.  Maybe a 2 - 4k side hustle or a 40 - 200k full on business opportunity, from what I have been reading, personally.  But owning a Tradeline business might eventually expose you to fraudulent activity against the interest of some very deep pockets, not to mention that you could be facilitating some criminal activity you would probably not want to be associated with...

I dunno, my personal jury is still out on this, otherwise I would have recommended it to folks that I know need the extra money and have the credit history to offer.

Yeah, I'd say most people are making in that 2-4k range now that the card companies are pretty saturated with cards so you may not max out all your spots every month.  There are at least a few people who are making in the low 5 figures though, people with a bunch of cards and

I wrote a post a few weeks ago (probably a few pages back?) about realistic expectations on income currently.

The $/hour remains the same as in the post title, because no extra effort is needed. So a few thousand dollar side gig for very little effort isn't bad.

Also, if you're seeing less sales, so you're only making a few hundred, that likely proportionally reduces your risk of card shut down. Not totally, as there are definite sweeps and someone with a small number of sales can still get shut down, but someone with a ton of sales is more likely to get shut down. So yes, less money than when it was unknown, but less risk of shutdown as well.

Everyone will make their own decisions. I respect those that don't want to sell tradelines for whatever reason (risk/reward, ethics, whatever). I think it's still worth it, personally, as the easiest side-gig I've ever heard of. :)
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Orin!

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I personally say 2-4K is low if you donít mind a more aggressive view toward all of this.

The most aggressive view is selling your own tradelines directly to people. Drawback is more risk and ultimately if you want to effectively counter that you need to fully incorporate and invest in proper data safety and identity verification protocols. I personally started selling directly and sold 16 lines in the last thirty days. Most of these were people just trying to buy one line and after it worked they were thrilled and resigned for an additional line. In doing this I did detect at least one person I suspected to be giving me a synthetic identity and I refunded him. Another person was openly trying to get me to add a cpn and I kept saying no.

Personally with this avenue - self selling lines - I cut off promoting this way as I do not want to go through all the necessary steps of incorporating and data safety and signing up to fill identity verification portals. But I now have more requests than I can fill from people who bought one line and it worked and now want more, and also these people who told their friends about me. I also treat each one very well, giving them basic advice most of us know about in regards to credit cards, how to build credit, and how to remove negative marks on credit.

I also signed my cards up with two vendors. One vendor would not take a certain brand of card but a different vendor would take another one as they figured out how to make it post.

With these two vendors, in the last thirty days one of them gave me four sales and another gave me seven sales. The one that gave me seven sales I actually had to refuse the last offer as it was pushing one of my cards past what I considered a comfortable line of AU lines. Iíll also be honest that I did double list one brand of card with both vendors but did it to the limit I considered acceptable - offered one AU slot with one vendor and two AU slots with the other.

Anyways I believe this area of the world - credit repair and tradelines - is saturated in potential. There are so many people that pay hundreds of thousands of dollars of extra interest over their life time due to poor credit.

erutio

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I personally say 2-4K is low if you donít mind a more aggressive view toward all of this.

The most aggressive view is selling your own tradelines directly to people. Drawback is more risk and ultimately if you want to effectively counter that you need to fully incorporate and invest in proper data safety and identity verification protocols. I personally started selling directly and sold 16 lines in the last thirty days. Most of these were people just trying to buy one line and after it worked they were thrilled and resigned for an additional line. In doing this I did detect at least one person I suspected to be giving me a synthetic identity and I refunded him. Another person was openly trying to get me to add a cpn and I kept saying no.

Personally with this avenue - self selling lines - I cut off promoting this way as I do not want to go through all the necessary steps of incorporating and data safety and signing up to fill identity verification portals. But I now have more requests than I can fill from people who bought one line and it worked and now want more, and also these people who told their friends about me. I also treat each one very well, giving them basic advice most of us know about in regards to credit cards, how to build credit, and how to remove negative marks on credit.

I also signed my cards up with two vendors. One vendor would not take a certain brand of card but a different vendor would take another one as they figured out how to make it post.

With these two vendors, in the last thirty days one of them gave me four sales and another gave me seven sales. The one that gave me seven sales I actually had to refuse the last offer as it was pushing one of my cards past what I considered a comfortable line of AU lines. Iíll also be honest that I did double list one brand of card with both vendors but did it to the limit I considered acceptable - offered one AU slot with one vendor and two AU slots with the other.

Anyways I believe this area of the world - credit repair and tradelines - is saturated in potential. There are so many people that pay hundreds of thousands of dollars of extra interest over their life time due to poor credit.

Geez, how many open credit card lines did you just have laying around when you started this just 30 days ago?

Orin!

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I personally say 2-4K is low if you donít mind a more aggressive view toward all of this.

The most aggressive view is selling your own tradelines directly to people. Drawback is more risk and ultimately if you want to effectively counter that you need to fully incorporate and invest in proper data safety and identity verification protocols. I personally started selling directly and sold 16 lines in the last thirty days. Most of these were people just trying to buy one line and after it worked they were thrilled and resigned for an additional line. In doing this I did detect at least one person I suspected to be giving me a synthetic identity and I refunded him. Another person was openly trying to get me to add a cpn and I kept saying no.

Personally with this avenue - self selling lines - I cut off promoting this way as I do not want to go through all the necessary steps of incorporating and data safety and signing up to fill identity verification portals. But I now have more requests than I can fill from people who bought one line and it worked and now want more, and also these people who told their friends about me. I also treat each one very well, giving them basic advice most of us know about in regards to credit cards, how to build credit, and how to remove negative marks on credit.

I also signed my cards up with two vendors. One vendor would not take a certain brand of card but a different vendor would take another one as they figured out how to make it post.

With these two vendors, in the last thirty days one of them gave me four sales and another gave me seven sales. The one that gave me seven sales I actually had to refuse the last offer as it was pushing one of my cards past what I considered a comfortable line of AU lines. Iíll also be honest that I did double list one brand of card with both vendors but did it to the limit I considered acceptable - offered one AU slot with one vendor and two AU slots with the other.

Anyways I believe this area of the world - credit repair and tradelines - is saturated in potential. There are so many people that pay hundreds of thousands of dollars of extra interest over their life time due to poor credit.

Geez, how many open credit card lines did you just have laying around when you started this just 30 days ago?

Nine cards that had no balances. Eight of those were over two years old.

I have three cards on top of those nine, but they are maxed out with 12-15 month 0% interest balance transfers that had a 0% balance transfer fee.

Roots&Wings

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I personally say 2-4K is low if you donít mind a more aggressive view toward all of this.

The most aggressive view is selling your own tradelines directly to people. Drawback is more risk and ultimately if you want to effectively counter that you need to fully incorporate and invest in proper data safety and identity verification protocols. I personally started selling directly and sold 16 lines in the last thirty days. Most of these were people just trying to buy one line and after it worked they were thrilled and resigned for an additional line. In doing this I did detect at least one person I suspected to be giving me a synthetic identity and I refunded him. Another person was openly trying to get me to add a cpn and I kept saying no.

Personally with this avenue - self selling lines - I cut off promoting this way as I do not want to go through all the necessary steps of incorporating and data safety and signing up to fill identity verification portals. But I now have more requests than I can fill from people who bought one line and it worked and now want more, and also these people who told their friends about me. I also treat each one very well, giving them basic advice most of us know about in regards to credit cards, how to build credit, and how to remove negative marks on credit.

I also signed my cards up with two vendors. One vendor would not take a certain brand of card but a different vendor would take another one as they figured out how to make it post.

With these two vendors, in the last thirty days one of them gave me four sales and another gave me seven sales. The one that gave me seven sales I actually had to refuse the last offer as it was pushing one of my cards past what I considered a comfortable line of AU lines. Iíll also be honest that I did double list one brand of card with both vendors but did it to the limit I considered acceptable - offered one AU slot with one vendor and two AU slots with the other.

Anyways I believe this area of the world - credit repair and tradelines - is saturated in potential. There are so many people that pay hundreds of thousands of dollars of extra interest over their life time due to poor credit.

How are you self selling and verifying data?

I declined my 1 sale in the past 1.5 months (5 cards listed all over 2 years) because when I googled the guy, there was criminal record, active lawsuits, liens, etc.

Orin!

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I personally say 2-4K is low if you donít mind a more aggressive view toward all of this.

The most aggressive view is selling your own tradelines directly to people. Drawback is more risk and ultimately if you want to effectively counter that you need to fully incorporate and invest in proper data safety and identity verification protocols. I personally started selling directly and sold 16 lines in the last thirty days. Most of these were people just trying to buy one line and after it worked they were thrilled and resigned for an additional line. In doing this I did detect at least one person I suspected to be giving me a synthetic identity and I refunded him. Another person was openly trying to get me to add a cpn and I kept saying no.

Personally with this avenue - self selling lines - I cut off promoting this way as I do not want to go through all the necessary steps of incorporating and data safety and signing up to fill identity verification portals. But I now have more requests than I can fill from people who bought one line and it worked and now want more, and also these people who told their friends about me. I also treat each one very well, giving them basic advice most of us know about in regards to credit cards, how to build credit, and how to remove negative marks on credit.

I also signed my cards up with two vendors. One vendor would not take a certain brand of card but a different vendor would take another one as they figured out how to make it post.

With these two vendors, in the last thirty days one of them gave me four sales and another gave me seven sales. The one that gave me seven sales I actually had to refuse the last offer as it was pushing one of my cards past what I considered a comfortable line of AU lines. Iíll also be honest that I did double list one brand of card with both vendors but did it to the limit I considered acceptable - offered one AU slot with one vendor and two AU slots with the other.

Anyways I believe this area of the world - credit repair and tradelines - is saturated in potential. There are so many people that pay hundreds of thousands of dollars of extra interest over their life time due to poor credit.

How are you self selling and verifying data?

I declined my 1 sale in the past 1.5 months (5 cards listed all over 2 years) because when I googled the guy, there was criminal record, active lawsuits, liens, etc.

I stopped self selling because I did not feel comfortable with it as in order to do full identity checks you have to be incorporated to sign up for the companies that do ID verify for you. They will not deal with you just as a regular person. An alternative would be to get a line into a PI who does it for you.

But what I did to at least calm my nerves when I was self selling is I openly stated I would not take cpns. And if someone tried they would not be refunded. Of course I still did refund the one person who I suspected was trying to palm one off on me. But just saying there would be no refund probably deterred people. I also said I wanted their credit karma login data. I would look around on that to see indicators of it being a synthetic person. Also credit karma to some degree does ID checks or questions before you can register with them. It is not as tight as I like it though so I am not happy with just that.

I would also ďstart the AU add processĒ but not really and say the bank was asking for a copy of Drivers lisence. I might also ask for copy of social security card and proof of address like a bank statement or utility bill. I would basically ask for the same things a bank would ask for. Like I said the one person I suspected of being a fake said ďoh you are asking for too much give me a refundĒ which I was happy to do.

And one bank actually did ask for the ID documents and I had them and they were happy with them.

There was actually much more homework I did on this subject then the above. You can also find out for free if a social security number was actually issued by social security department and f the social security department has records (up to 2014) of that person being dead or not. That is a free search anyone can do.

In the end I checked out of self selling as I cannot do full ID verif without being a full incorporated business with places like Lexis Nexis or Equifax identity verifications. Or working hand in hand with a lisenced PI. I could have gone full corporate and cashed in but for personal reasons I left it alone and am working with two vendors. Maybe later I will go back to self selling but not for now.

MasterStache

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

Just interested - for someone like you new to Tradelines and reading about all the cards shut down and possibly increasing risk, how do you come to the conclusion that it is worth the (steadily declining) income?  Also, as a disclaimer, I don't see this living up to the headline '20 - 40k/yr side gig', even in its heyday.  Maybe a 2 - 4k side hustle or a 40 - 200k full on business opportunity, from what I have been reading, personally.  But owning a Tradeline business might eventually expose you to fraudulent activity against the interest of some very deep pockets, not to mention that you could be facilitating some criminal activity you would probably not want to be associated with...

I dunno, my personal jury is still out on this, otherwise I would have recommended it to folks that I know need the extra money and have the credit history to offer.

Yeah, I'd say most people are making in that 2-4k range now that the card companies are pretty saturated with cards so you may not max out all your spots every month.  There are at least a few people who are making in the low 5 figures though, people with a bunch of cards and

I wrote a post a few weeks ago (probably a few pages back?) about realistic expectations on income currently.

The $/hour remains the same as in the post title, because no extra effort is needed. So a few thousand dollar side gig for very little effort isn't bad.

Also, if you're seeing less sales, so you're only making a few hundred, that likely proportionally reduces your risk of card shut down. Not totally, as there are definite sweeps and someone with a small number of sales can still get shut down, but someone with a ton of sales is more likely to get shut down. So yes, less money than when it was unknown, but less risk of shutdown as well.

Everyone will make their own decisions. I respect those that don't want to sell tradelines for whatever reason (risk/reward, ethics, whatever). I think it's still worth it, personally, as the easiest side-gig I've ever heard of. :)

I'll second this. We have 3 cards (2 are really old) and are making between 1-2K per year. Not near what others with many more cards are making but we are perfectly fine and happy with this. The alternative is nothing. Just one of my many side gigs.

Orin!

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I donít know if anyone else has encountered this problem, but Citi specifically sends AU cards to your address but the envelope has their name on it.

I filed a complaint with citi on this so we will see if that changes. It confuses the person handling my mail and I have also noticed people with traveling virtual mail boxes get issues with this being rejected.