Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 494307 times)

topshot

  • Stubble
  • **
  • Posts: 120
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3000 on: September 28, 2018, 05:24:55 AM »
Two updates from my world.

1. Wrapped up first batch of piggybacking-closure cases favorably!

Sounds like you may have some more business from Discover customers, @PointsLawyer  ;)

Shade00

  • Stubble
  • **
  • Posts: 151
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3001 on: September 28, 2018, 03:22:59 PM »
I continue to suspect that companies do periodic audits where they query their databases for what they consider to be risky behavior.  They then either human review or (less likely) do mass closings.

If this is accurate, then there could be a long while between when one does what they consider risky and the account closure.  It also means that "normal usage" may not inoculate one against account closure.

I continue to think that the total number of AU's added to a line, perhaps limited to those that don't reside at the same address or share the same last name, would be the search criteria that they use.

I also don't think they expend much energy or effort on this kind of thing overall, since the direct cost to them is pretty low.  Their main business risk would be loss due to fraud or punitive damages by not complying with federal restrictions on foreign nationals subject to sanction or something like that.

@Shade00, there also is the possibility that the reason for closure may not be related to AUs.  It's possible that some other behavior is what triggered the closure.  I don't know about you, but I typically do multiple things on each credit line that the CC companies don't like.

I'm not sure what that behavior could have been, but I guess there's no way to know. I had 4 adds last year, if I'm remembering correctly, and kept my utilization at no more than 5% until I used the card to buy some furniture at the beginning of the year. We paid that purchase off within a couple of months. I really have no clue. It's disappointing because I had that account since 2009 and had 23k in credit available. :(

SuperChamp

  • 5 O'Clock Shadow
  • *
  • Posts: 1
  • Location: SoCal
  • Ephesians 9:11
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3002 on: September 28, 2018, 03:43:22 PM »
Thanks for the great post.  I am probably on the other side, looking to purchase the trade-lines as most from what I have read are selling them.

Question, as I dont know too much about how this works, except for the fact that the history of the credit gets piggy backed onto the new authorized user and this is what helps increase the score.

My question is that after a month or two of adding and removing the said user, does the credit stop reporting?

I emailed the OP regarding the recommended companies, and have yet to get a response.

thanks guys.

Padonak

  • Bristles
  • ***
  • Posts: 286
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3003 on: September 28, 2018, 04:43:08 PM »
Thanks for the great post.  I am probably on the other side, looking to purchase the trade-lines as most from what I have read are selling them.

Question, as I dont know too much about how this works, except for the fact that the history of the credit gets piggy backed onto the new authorized user and this is what helps increase the score.

My question is that after a month or two of adding and removing the said user, does the credit stop reporting?

I emailed the OP regarding the recommended companies, and have yet to get a response.

thanks guys.

I haven't seen a credit report of a person who was added and then removed as an Authorized User. My understanding is that you get a new record (tradeline) in your credit report which boosts your credit score because you "piggyback" on the main cardholder's age of the tradeline and credit line, meaning they are accounted for when your score is calculated. I believe that tradeline is reported as "closed" when you are removed as an AU, but it still remains in your report and increases you credit score.


arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 27183
  • Age: -999
  • Location: Traveling the World
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3004 on: September 29, 2018, 07:32:05 AM »
My question is that after a month or two of adding and removing the said user, does the credit stop reporting?

When you are removed, the line may be removed from your report, yes. At that point, it wouldn't boost your score anymore. It's a temporary boost designed to help you get credit to improve it long term.

Sometimes it sticks on your credit report for a long time after you are removed, but I don't think there's any guarantees around that. Probably best to speak with the TL companies as a potential AU to find out details (and if any particular providers are more likely than others to stick on, or whatever).
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
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."

merula

  • Handlebar Stache
  • *****
  • Posts: 1107
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3005 on: October 01, 2018, 07:05:26 AM »
A family member added me as an authorized user to one of their cards so that I could make some purchases on their behalf. They also thought this would help me out with credit.

Well, turns out their credit utilization for that card was way above my average so my score was dropping despite the addition of a relatively high limit, moderate age account. So I had them remove me. That card is still listed on my credit report, though my score increased, so I don't think it's factoring in anymore.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 27183
  • Age: -999
  • Location: Traveling the World
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3006 on: October 01, 2018, 08:35:43 AM »
Yeah, that's why the TL companies emphasize utilization must be under 10% of the card's limit. Don't want high utilization hurting the AU's score.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
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."

topshot

  • Stubble
  • **
  • Posts: 120
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3007 on: October 06, 2018, 07:05:25 AM »
Removing an AU this morning from BoA, the rep asked WHY I was removing them. She said they just needed to make sure he wasn't trying to get a loan or they'd need to send him a letter. I wanted to ask why that mattered but am not risking any more flags than absolutely necessary since I only have 2 nice cards in the game.

monarda

  • Bristles
  • ***
  • Posts: 362
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3008 on: October 06, 2018, 12:25:37 PM »
Data point-  an AMEX AU was added for a family member in early August and hasn't posted yet. Not sure how long it'll take, or if it'll post at all.
Date of add as authorized user doesn't matter. Date of first statement with a balance due should determine when the line gets reported to credit agencies.

The card is used for small purchases all the time. It's a business account, so that might make a difference, I suppose.

MoseyingAlong

  • 5 O'Clock Shadow
  • *
  • Posts: 90
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3009 on: October 07, 2018, 12:30:35 AM »
Data point-  an AMEX AU was added for a family member in early August and hasn't posted yet. Not sure how long it'll take, or if it'll post at all.
Date of add as authorized user doesn't matter. Date of first statement with a balance due should determine when the line gets reported to credit agencies.

The card is used for small purchases all the time. It's a business account, so that might make a difference, I suppose.

What I've read is that business cards do not show up on personal credit reports which is why the TL companies are not interested in them and also why they are good if you're churning for sign-ups bonuses while waiting to get under Chase's 5/24 limit.

monarda

  • Bristles
  • ***
  • Posts: 362
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3010 on: October 07, 2018, 11:28:49 AM »
Thanks, @MoseyingAlong

I guess since I saw that a CapOne Spark business account posts, we thought we'd try the AMEX, but maybe not all business accounts are created equal.

lexde

  • Handlebar Stache
  • *****
  • Posts: 1334
  • Age: 28
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3011 on: October 18, 2018, 06:46:38 PM »
I've been getting my citi spots filled regularly - but with this last round of AUs I've had to get cleared by the fraud department. They just ask me to give them a text message and "verify" me.

Should I be concerned about these extra steps? Maybe let my 2 AU spots cool off? Or not worry about it?

secondcor521

  • Handlebar Stache
  • *****
  • Posts: 1674
  • Age: 49
  • Location: Boise, Idaho
  • Big cattle, no hat.
    • Age of Eon - Overwatch player videos
Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3012 on: October 18, 2018, 07:47:05 PM »
I've been getting my citi spots filled regularly - but with this last round of AUs I've had to get cleared by the fraud department. They just ask me to give them a text message and "verify" me.

Should I be concerned about these extra steps? Maybe let my 2 AU spots cool off? Or not worry about it?

That is SOP for one of the CC issuers; don't recall if it's Citi or not.  I'd suggest taking a look at the add instructions that they send you in the email or on the portal (assuming New Company) because for the issuer I'm thinking of they mention it.

It's up to you, but I wouldn't worry about it if it were me.
« Last Edit: October 18, 2018, 07:48:55 PM by secondcor521 »