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General Discussion => Share Your Badassity => Topic started by: arebelspy on July 17, 2016, 01:27:07 AM

Title: Selling Tradelines / Piggybacking: $1000+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 01:27:07 AM
EDIT 12/29/16: This thread has been replaced by a new one.

You Can Find The New Thread Here. (http://forum.mrmoneymustache.com/moderators-only/selling-tradelines-piggybacking-part-ii-$1000hr-20-40kyr-side-gig/msg1356357/#msg1356357)

If you are wondering about the title of this thread: yes, it is real, it is legal, it does work, and Mustachians have been making thousands of dollars a month doing this for the last six months since I started this thread.

Go to that other thread to read about it.

Information below this post may be outdated or incorrect, please see the new thread, linked above.

Cheers!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 01:27:33 AM
Here's the (very simplistic) spreadsheet I use to track my trade line sales.

I don't track the names of the AUs and such, since the site I use has an interface that has all that.  Here I just track which of my cards are in the system, how many AUs I've added, if I've done the spend on the card for the month, and if I've paid off the card.

I've blanked my data and uploaded it, so you can use and tweak it if you want to.

The first (Summary) tab looks like this:
(http://img.photobucket.com/albums/v65/arebelspy/Travel%20Pics%20for%20MMM/CCTradelines1_zpsnmxrfkx6.png)

Here I put the CC company, the last 4 digits of each card, how long the card's been opened, when the statement close is, what the credit line is.  I also put how much I earn per trade line (AU), and the number of slots I might sell.  I just play around with this and make projections.  I track my SO's cards here, too.

Then I have individual tabs on the bottom for each month.  I left July as an example.  Here's what the next tab looks like:
(http://img.photobucket.com/albums/v65/arebelspy/Travel%20Pics%20for%20MMM/CCTradelines2_zpswzwmdegc.png)

On this, it has the same info (for each card), and has additional Spend Done? and Paid Off? columns.  Initially, for the month, all of the # of slots sold (column J) are 0.  Then when I get a request to add an AU, I go do that, and change the number of slots to 1 (and later 2, or whatever, if I sell more for the same card).  When I spend on that card, I put a P (for pending), and then when I confirm that spend posted to the card, I change it to a Y (yes).  If I haven't done the spend yet, I put a N (no).  These turn yellow (pending) or green or red (y/n, respectively).

I wait to pay off the cards until after the statements close, so I often go back to the previous month and do the Paid Off column, just to make sure I never pay any CC fees/interest.  You can obviously do auto-pay, or however you prefer it.

This will then calculate my total earned for the month, since it will vary by month (the one on the first tab is just for fun, to play with/project "IF I get this many AUs...").

Each month I just copy the previous tab, set all # of slots to 0, and delete the spend info, and then get ready to do it again.

I'm sure you can get super fancy with it (I do have a few other tabs, totaling months, graphing my amounts earned and stuff, but they aren't super relevant and I deleted them to share), but figured I'd share my rough and dirty simplistic one in case anyone wanted it.  :)

Any suggestions or improvements welcome!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on July 17, 2016, 03:16:53 AM
Thanks for the solid write up.

I wasn't going to consider this, because it seemed like a hassle. But we've got oodles of old accounts that I never use, Like, 20 years old, >> $10k credit lines. I dunno, maybe it's worth it.

Given the risk, it's probably a good idea to not put the oldest card in this scheme - as the closure of that could adversely affect my credit score. But the ones opened in 2001? Eh, at this point - why not?

I think I'll do a little inventory and see what I've got.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: bluecollarmusician on July 17, 2016, 07:10:15 AM
This is interesting ...first I have heard of it... Thanks for sharing.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ender on July 17, 2016, 07:18:48 AM
I'm intrigued, since I'm already considering doing a lot more credit card churning (well, more like slow wave-ing given our spend rate). Might be a good way to keep getting value from those cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: justajane on July 17, 2016, 07:57:54 AM
I would absolutely love to do this, but my husband works directly for one of the major credit cards. We try to use their cards exclusively. We might have some open lines with competing companies that we never use. I would probably stick with doing it with those cards :).

It seems highly unlikely, but could this be considered some sort of employment breach? It sounds like it's something that the banks discourage and not the credit cards themselves. Or both? I'm just recalling how when my BIL worked in finance for a bank he always claimed it was against his employment to do certain things like a short sale. Or maybe he was just blowing smoke?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Knaak on July 17, 2016, 08:02:53 AM
Thanks for the write-up.  I sent you a PM.

Do you have any information about AUs on business credit cards?  I have an old Capital One Spark Business card that I don't use any longer, but I could run an expense or two on it each month.  I wonder if an AU on that card (normally employees) would work the same as a personal card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 08:36:55 AM
I think it works great no issues on my end so far. Have a bunch of cards turning 2 next year as well. Estimate monthly now is 600. When those cards hit it will be 2100
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on July 17, 2016, 09:06:10 AM
I've been doing this for about 6 months with no problems so far.  I don't have a ton of cards with 2+ years of history, so I have only been using one card so far.  I am also afraid to use Chase because they have all the best cards for churning.  I don't want to jeopardize that.

It's been a really easy $200/month for me so far.  Probably 5-10 minutes per month required.

To everyone else that has been doing it, how many spots do you go with per card (do you do the maximum on each card), and have you ever had any negative responses from the banks for it? 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cherry Lane on July 17, 2016, 11:51:21 AM
My two oldest cards are US Bank and AmEx.  Neither are on your list of cards - do you have any idea if they would work?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: spicykissa on July 17, 2016, 12:02:25 PM
This strikes me as really sad for the people buying the AU spots. I don't feel particularly bad for the credit card companies, because, as you say, they have recourse if they don't like you doing it. (And TOS are not written with customer's best interest in mind). But I couldn't in good conscience enable other people to go into (most likely) bad debt quite so directly for my own gain. But that's just me, I guess.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 12:15:42 PM
My two oldest cards are US Bank and AmEx.  Neither are on your list of cards - do you have any idea if they would work?

They don't
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: tyort1 on July 17, 2016, 12:29:29 PM
Sounds cool, one question.  Do you get paid right away when you sign some one up as an AU, or do you have to wait some period of time before they give you the money?

Also, since its 1099 income, what are the tax implications?  I'm not familiar at all with 1099 stuff.  Do I need to with hold taxes, or do they do that for me?  And if I need to, how much do I need to hold back?  I like money, but I hate tax surprises at the end of the year...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 12:35:08 PM
It's gonna be a 1099 misc. They won't withhold taxes. So you'll have to track that on your own.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: tyort1 on July 17, 2016, 12:36:55 PM
It's gonna be a 1099 misc. They won't withhold taxes. So you'll have to track that on your own.
How do I figure out how much to with hold?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on July 17, 2016, 12:47:18 PM
It's gonna be a 1099 misc. They won't withhold taxes. So you'll have to track that on your own.
How do I figure out how much to with hold?

It'll be at your marginal rate for federal and state tax, then 15.3% FICA self employment tax ( I think, otherwise 7.65%).

Here are the current tax brackets: http://taxfoundation.org/article/2016-tax-brackets
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: tyort1 on July 17, 2016, 12:57:48 PM
It's gonna be a 1099 misc. They won't withhold taxes. So you'll have to track that on your own.
How do I figure out how much to with hold?

It'll be at your marginal rate for federal and state tax, then 15.3% FICA self employment tax.

Here are the current tax brackets: http://taxfoundation.org/article/2016-tax-brackets

So for Colorado and Federal and FICA is 4% + 25% + 15% = 44% taxes?  Holy sh!t.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 01:01:41 PM
I'm not claiming as a business. I'm just claiming as misc income then you avoid the self employment tax. It's not hardly enough income to raise a flag imo. It's all free money why do you care about withholding. You're on this site just save it and don't spend it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 01:03:26 PM
If you did claim as a business I would assume all fees for ccs could be business expenses but not worth the fica taxes unless you're already pushing the ss limit. If you are the savings of claiming it as a business and then using a sep IRA may be worth it
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: tyort1 on July 17, 2016, 01:05:19 PM
I'm not claiming as a business. I'm just claiming as misc income then you avoid the self employment tax. It's not hardly enough income to raise a flag imo. It's all free money why do you care about withholding. You're on this site just save it and don't spend it.

Ah, that is only 29%, a lot more reasonable.  And yes its free money, so there's that :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 01:27:40 PM
I'm not claiming as a business. I'm just claiming as misc income then you avoid the self employment tax. It's not hardly enough income to raise a flag imo. It's all free money why do you care about withholding. You're on this site just save it and don't spend it.

Ah, that is only 29%, a lot more reasonable.  And yes its free money, so there's that :)

Just look at my post above this as well you could come out ahead claiming as a business if you were close to the ss max and use a sep IRA.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on July 17, 2016, 01:48:34 PM
This is a thread right now on r/churning, what do you guys think of this comment?

I know a few of you guys are getting paid for credit piggybacking. I was doing it for several years, but started hearing about friends who have gotten warnings.  Citi recently sent my friend a warning that everyone he had added through the credit boosting agency as an authorised user was fake, and didn't exist.  So some of these companies may be intentionally defrauding banks by creating fake people as part of an identity theft ring. I'm thinking they may be children's SSNs or dead people.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: beltim on July 17, 2016, 02:12:47 PM
This is very interesting, and I've never seen it before. I have two ethics questions.

1) You are representing this person as an authorized user of your card, when in fact you are never authorizing them to use the card.  Isn't this straight up lying?

2) Similarly, the person using the service is representing that they are an authorized user of the card, when they aren't. Isn't that person similarly lying?  And aren't you facilitating that person misrepresenting their credit worthiness?

Interestingly, I think many of the ethical questions would disappear if you actually allowed the authorized user to use your card for some period of time.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 02:18:41 PM
Why would you need to let them use a card with a long credit history to make it ethical. They wouldn't have been using it the whole time.

Also

This is something fico 8 tried to shut down and the cc companies said no. So who cares. If some body who has never had credit wants to buy a house and this helps them great. If it's some guy with a history of defaults those will still affect their credit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Paul der Krake on July 17, 2016, 02:20:56 PM
This is a thread right now on r/churning, what do you guys think of this comment?

I know a few of you guys are getting paid for credit piggybacking. I was doing it for several years, but started hearing about friends who have gotten warnings.  Citi recently sent my friend a warning that everyone he had added through the credit boosting agency as an authorised user was fake, and didn't exist.  So some of these companies may be intentionally defrauding banks by creating fake people as part of an identity theft ring. I'm thinking they may be children's SSNs or dead people.
I would be extremely careful. At the very least, google the name of the people you are adding and see if anything is fishy.

Everyone has their own comfort zones. Personally, it's the $1000-$3000+ that the "customers" are being charged that gets my ethics radar ringing. Rebs seems to think that all parties are entering this arrangement knowingly, but I can't help but think there is deep despair that's being taken advantage of.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 02:52:53 PM
Thanks for helping answer a bunch of questions Border!

Going through the thread now, let me know if I missed your question.

Given the risk, it's probably a good idea to not put the oldest card in this scheme - as the closure of that could adversely affect my credit score. But the ones opened in 2001? Eh, at this point - why not?

Yeah, you can always keep your oldest one(s) out, and use some that are newer (but still older than 2 years).  The older it is, the more likely someone is to purchase it, but you get paid based on the credit line, not age.

And like I said in the OP, even if it's closed, it stays on your account for up to 10 years, so it won't affect your credit score being closed (aside from available credit/DTI) for a long time, plenty of time to get other cards.

Definitely only do what you're comfortable with, but I'm a fan, and I figured others may be interested, too.

Might be a good way to keep getting value from those cards.

Exactly.  In fact, I had two that just hit their second year, I enrolled them, but was debating cancelling (had $95 annual fee), then I got two orders on one of them.  Decided to keep them both.

I would absolutely love to do this, but my husband works directly for one of the major credit cards. We try to use their cards exclusively.

Yeah, I wouldn't violate the terms of service of a CC company if they're your employer.  In the scenario above ("Would you take 50-100k to close old CCs), the risk is you have a few old CCs closed.  Big deal.  But add "...and lose your job" and it becomes "nah."  Just not worth risking your job,  most likely.

If you are knowingly violating your credit card company's terms of service, how is that not unethical?

I knowingly violate a LOT of terms of service. You probably do as well, knowing or unknowingly.

Ever shared a password to a website with anyone (Netflix is a common one, but even something like your email, or Facebook, or bank account, with your SO even)?  You can't do that, per their terms of service.

If a company put in their TOS that I couldn't donate money to starving orphans (or to a certain political affiliation, or whatever), I'd click "I agree" and then ignore it. 

Whatever is in "Terms of Service" isn't automatically ethical, or not.  I can see the argument that you should just not agree, and not use that service, and if that's your position, that's fine.  I think there's a lot of things then that you'll need to stop doing that you do today.

I think there's a difference between legality and morality (a common philosophical debate), and I think there's a HUGE difference between terms of service and morality.

If you think this is unethical, that's fine.  I absolutely see the arguments for it being so (one of them being that it violates TOS).  I'm just saying that no, I don't find it unethical, and it being a violation of the TOS doesn't automatically MAKE it unethical, for me.  :)

Do you have any information about AUs on business credit cards?

No business cards, sadly--they don't report the same as personal ones, so they don't work.

I think it works great no issues on my end so far. Have a bunch of cards turning 2 next year as well. Estimate monthly now is 600. When those cards hit it will be 2100

Awesome to hear!

I've been doing this for about 6 months with no problems so far. 

Thanks for the confirmation!  :)

My two oldest cards are US Bank and AmEx.  Neither are on your list of cards - do you have any idea if they would work?

US Bank, yes.  Amex, no.

Sounds cool, one question.  Do you get paid right away when you sign some one up as an AU, or do you have to wait some period of time before they give you the money?

There's a month lag.  Obviously there's no way for them to know that you actually added them until it shows up on the other person's credit report.  So you add them, a bit later the statement closes, a few weeks later it's on their report, and then you get paid.

Quote
Also, since its 1099 income, what are the tax implications?  I'm not familiar at all with 1099 stuff.  Do I need to with hold taxes, or do they do that for me?  And if I need to, how much do I need to hold back?  I like money, but I hate tax surprises at the end of the year...

Same as any other side-gig income, at your marginal rate.

This is a thread right now on r/churning, what do you guys think of this comment?

I know a few of you guys are getting paid for credit piggybacking. I was doing it for several years, but started hearing about friends who have gotten warnings.  Citi recently sent my friend a warning that everyone he had added through the credit boosting agency as an authorised user was fake, and didn't exist.  So some of these companies may be intentionally defrauding banks by creating fake people as part of an identity theft ring. I'm thinking they may be children's SSNs or dead people.

I mean.. I suppose that's possible? 

I'm skeptical.  If it were true, I think they'd post a copy of the letter received (that's the sort of thing they would send registered mail, not via a casual phone call or something), w/ info redacted if necessary. 

I wouldn't be surprised if it was FUD from someone who doesn't want it to become popular for fear of the market getting flooded, so they make up a story.

I also think ID theft is so easy/cheap nowadays (vis-a-vis the Internet--I've read in various articles talking about ID theft that you can buy a stolen ID/credit card for something like $40 on the Internet) that I don't see why someone would pay money to this service to get credit for someone that doesn't exist or is dead, or whatever, when you can easily and cheaply get REAL IDs. So that's a second reason I'm skeptical.

I'm of the belief that 100% or more are people exactly like what I described in the OP--people looking for a temporary boost in their credit--and I'll think that until given real reason to think otherwise.  If and when that happens, I'll reevaluate.

This is very interesting, and I've never seen it before. I have two ethics questions.

1) You are representing this person as an authorized user of your card, when in fact you are never authorizing them to use the card.  Isn't this straight up lying?

2) Similarly, the person using the service is representing that they are an authorized user of the card, when they aren't. Isn't that person similarly lying?  And aren't you facilitating that person misrepresenting their credit worthiness?

Interestingly, I think many of the ethical questions would disappear if you actually allowed the authorized user to use your card for some period of time.

They ARE authorized to use it, for that month or two.  They just have no means to actually use it (they have no card, and no way to get one). How is that lying?  I did authorize them to use it, and two months later I unauthorize them.

Also, even if we decide that it IS lying, is lying always wrong?  In a Kantian view, probably.  In a utilitarian, certainly not.  If I'm helping these people save interest over the greedy banks, it might be more moral for me to lie (if it helps lift them out of poverty).

We can have some fun ethics debates around it, for sure.  And I can see why one might find it unethical, like I said.

If you do, definitely don't do it... it's not worth compromising your ethics for money.  :)

This strikes me as really sad for the people buying the AU spots. I don't feel particularly bad for the credit card companies, because, as you say, they have recourse if they don't like you doing it. (And TOS are not written with customer's best interest in mind). But I couldn't in good conscience enable other people to go into (most likely) bad debt quite so directly for my own gain. But that's just me, I guess.

Everyone has their own comfort zones. Personally, it's the $1000-$3000+ that the "customers" are being charged that gets my ethics radar ringing. Rebs seems to think that all parties are entering this arrangement knowingly, but I can't help but think there is deep despair that's being taken advantage of.

So this question by spicykissa was the only one I answered out of order (moved down to the end), because it grouped nicely with Paul's.

Here's the thing about it, to me.  These people are in a tough situation, no doubt.  They have bad credit, and are trying to buy something.

But to me, this is helping them.  First, think about the alternative if they don't do this.  Do I think they'll go "Oh, the interest rate is 18%, guess I won't buy it."?  Of course not.  They're going to buy it regardless.

But if they know about this, they can boost their credit and get a reasonable rate. That might be the difference between them being able to make ends meet, or not.

I know exactly what you two mean about their end of the transaction being potentially evil.  I absolutely would not fund a payday loan place.  They're predatory, and unethical.  The vast majority of the time, people are digging themselves in deeper, and the tactics used are scummy.

But this actually seems like the opposite of that--a flat fee, which gets them a lower interest rate and saves them money?

So I don't feel unethical from the standpoint of thinking about them, because I do actually think it helps them.  I might be wrong about how it ends up helping them, or not, but that's how I picture it, and this service allowing them to pay a flat fee in order to avoid usurious rates is a GOOD thing.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 03:33:55 PM
Does anyone know if this is an option for Canadians living in Canada?

I have no idea.  Probably depends on how your credit scores work, and how your credit cards report.

I know for the companies I've looked into, it needs to be a card that reports to our credit reporting bureau (Equifax, TransUnion, Experian).

There may be separate trade line companies specializing in Canada ones, if your system works the same (with AUs).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: EscapeVelocity2020 on July 17, 2016, 03:37:26 PM
Not sure if you've addressed this, so ignore and I'll remove when I catch up, but are there ever any names provided that you don't feel comfortable providing the AU service for?  For example, I'm not sure I'd want to get an 'Osama, Hussein, Bubba, Bundy, etc.' a cheap secured line of credit ...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: beltim on July 17, 2016, 04:05:02 PM
This is very interesting, and I've never seen it before. I have two ethics questions.

1) You are representing this person as an authorized user of your card, when in fact you are never authorizing them to use the card.  Isn't this straight up lying?

2) Similarly, the person using the service is representing that they are an authorized user of the card, when they aren't. Isn't that person similarly lying?  And aren't you facilitating that person misrepresenting their credit worthiness?

Interestingly, I think many of the ethical questions would disappear if you actually allowed the authorized user to use your card for some period of time.

They ARE authorized to use it, for that month or two.  They just have no means to actually use it (they have no card, and no way to get one). How is that lying?  I did authorize them to use it, and two months later I unauthorize them.

Also, even if we decide that it IS lying, is lying always wrong?  In a Kantian view, probably.  In a utilitarian, certainly not.  If I'm helping these people save interest over the greedy banks, it might be more moral for me to lie (if it helps lift them out of poverty).

We can have some fun ethics debates around it, for sure.  And I can see why one might find it unethical, like I said.

If you do, definitely don't do it... it's not worth compromising your ethics for money.  :)

They're not authorized to spend money on the card.  The fact that you add them as an authorized user, but then never give them a way to use the card, is exactly what makes it lying. 

I agree that that would be unethical in a Kantian sense.  Not sure about utilitarian – after all, the reason you have the credit score you do is because of your history.  Misrepresenting others credit histories will, if this happens in sufficient volume, make credit scores meaningless, and increase the cost of credit to those most likely to repay.  I'm skeptical whether evening the credit rates across the population—i.e. disconnecting credit score from likelihood to repay—is a positive thing.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on July 17, 2016, 04:19:24 PM
Not sure if you've addressed this, so ignore and I'll remove when I catch up, but are there ever any names provided that you don't feel comfortable providing the AU service for?  For example, I'm not sure I'd want to get an 'Osama, Hussein, Bubba, Bundy, etc.' a cheap secured line of credit ...

This is similar to another question I have as I start looking into this.  If someone uses this service, and then commits some sort of crime, which was helped by them becoming an AU on your credit card, could you be held liable in any way?  I know that's pretty vague and probably unlikely.  But say I helped someone boost their credit score to get access to a rental or something, and then they commit a crime on the property. Or someone uses their improved credit for the purposes of being able to do something illegal. I may not be in danger of criminal charges, but seems like I could open myself to some sort of civil suit by the victim, property, etc..  Maybe not.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 04:27:37 PM
Not sure if you've addressed this, so ignore and I'll remove when I catch up, but are there ever any names provided that you don't feel comfortable providing the AU service for?  For example, I'm not sure I'd want to get an 'Osama, Hussein, Bubba, Bundy, etc.' a cheap secured line of credit ...

Uh... no.

It would never cross my mind to try and profile people based on their name.

I don't think there are any names I know of that I would even want to, had it occurred to me, or people any less deserving of using a financial loophole to lower their interest rate.  If anything, it's the people who are the most taken advantage of in society that can use something like this.

They're not authorized to spend money on the card.

Sure they are.. they just have no way to do so.

Quote
The fact that you add them as an authorized user, but then never give them a way to use the card, is exactly what makes it lying.

I guess, if that's how you view it?  At no point do I tell a lie.  I add them as an authorized user.  I remove them as an authorized user.  I'm curious at what point in there you think I tell a lie.  But if it feels like lying to you, like I said, don't do it.  :)

I don't see a need to debate it any more, we obviously differ in how we view it, and that's fine.

Quote
I'm skeptical whether evening the credit rates across the population—i.e. disconnecting credit score from likelihood to repay—is a positive thing.

I'd actually think someone savvy enough to realize they can get a better rate, and financially aware enough to do so would be more likely to repay (i.e. they had credit issues in the past, but are better with money now), than someone who doesn't think through finances like this, and then pay 18% or whatever, especially given the money they'll then save on the interest.  I have no proof for or against this idea, but I have no reason to think someone aware enough of their financial situation, taking steps to decrease the interest rate they're paying, and then actually getting a lower rate (so less burdensome interest payments) will do worse than someone who does none of that, and just gets a bad interest rate.  And, like I said, they're going to get the thing anyways, 99% of the time.  So if this is the difference between them making their rent payment or not, due to less interest paid on their car, or the difference between them getting to keep it and having it repossessed, or whatever, that seems like a good thing, to me.

This is similar to another question I have as I start looking into this.  If someone uses this service, and then commits some sort of crime, which was helped by them becoming an AU on your credit card, could you be held liable in any way?  I know that's pretty vague and probably unlikely.  But say I helped someone boost their credit score to get access to a rental or something, and then they commit a crime on the property. Or someone uses their improved credit for the purposes of being able to do something illegal. I may not be in danger of criminal charges, but seems like I could open myself to some sort of civil suit by the victim, property, etc..  Maybe not.

I don't know, I'm not a lawyer.  I guess consult a lawyer if you're concerned about this?

Like I said above, I think the people using this are as I described in the OP: people looking to temporarily boost their credit in order to lower their interest rate.  I have no knowledge otherwise.

From Wikipedia: "An accessory must generally have knowledge that a crime is being, or will be committed" -- I don't have any knowledge of this, or even any suspicions. I think without any sort of knowledge of it, or any intent to commit a crime, there's no mens rea, and it'd be difficult to accuse you of being party to it.  Like I said though, if you're concerned, consult a lawyer.  It's not a concern I have though.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: geekette on July 17, 2016, 04:39:24 PM
Odd thought. We're in the process of selling my DH's family home to his cousin. I don't know what her credit is like (probably not bad, but not all that good since she's a single mom who's a teacher), but I'm now thinking that adding her as an AU on a card might help her qualify for a better rate. Have to think about that.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 04:43:49 PM
Odd thought. We're in the process of selling my DH's family home to his cousin. I don't know what her credit is like (probably not bad, but not all that good since she's a single mom who's a teacher), but I'm now thinking that adding her as an AU on a card might help her qualify for a better rate. Have to think about that.

Very likely.  :)

So if this is the difference between them making their rent payment or not, due to less interest paid on their car, or the difference between them getting to keep it and having it repossessed, or whatever, that seems like a good thing, to me.

Correct me, of course, if I'm misrepresenting you here, ARS...

If I'm recalling correctly, this aligns with your take on Kiva. i.e., I think you once said you don't like or support Kiva charging crazy-high interest. You and I feel differently about Kiva, which is totally fine, of course. But I appreciate the consistency in your take, and am happy to point out here that this activity is not one you apply only to make personal cash—it's a perspective you apply in various scenarios, whether you are making money or not, and including when you give charitably. You are ethically opposed to crazy high interest. You like increasing people's access to necessities. You see a relationship between high interest and some people's inability to eat or be sheltered. You see differences in 'legal', 'legalistic', 'moral', and 'ethical'.

I appreciate all of that.

(And thanks for responding to my Canada q.)

Yup, absolutely.  I hadn't thought about the connection, but you put it beautifully. 

I think we all draw different lines in different places, and have our own ideas of what is moral/ethical, and it's important to know what your values are, and live accordingly.

:)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cycling Stache on July 17, 2016, 04:59:12 PM
I would be very careful with this.  This appears to be a classic scheme to defraud, and it is a federal crime because of the use of the wires (emails, money transfers, etc.).

The key is that you're assisting in a scheme to mislead the entities issuing credit to the people that you seek to add as authorized users.  Put aside the ethical issues for a second.  Those entities lend money to individuals at a certain rate based on a certain credit history.  Anything dishonest misleads the entities into lending at a different rate, and the consequences in aggregate do matter assuming that the entities price their credit correctly.  It doesn't matter whether you believe the credit entities should charge the rates they do, etc.  The only thing that matters is the misrepresentation to the entities extending credit of those individuals credit histories.

So how does that affect you?  You're helping them in the scheme to defraud.  Specifically, by adding them to your credit card as authorized users, you create a false credit history for them.  It doesn't matter that they're not family members or that there is an "other" category.  The misrepresentation on your part is that they are authorized users.  An authorized user is one who has access to and the ability to use the credit on your credit card.  In fact, they do not.  While you feel protected behind the shield of the fact that the card is just sent to you, that's easily penetrated when you have a number of different individuals not associated with you in any way who purportedly have the ability to use your cards but never do.  Intend to place a few charges on those cards to make it look legit?  See--there's a fraudulent act to make it legit.

While you could claim ignorance for one or two and you probably wouldn't be prosecuted, once you do this on a systematic basis, it's going to be easy to prove that your authorized users are nothing of the kind, and that you're getting paid to add them shortly before they apply for credit somewhere else.

How else do you prove it?  You're getting paid.  For what?  If the purported authorized users can't actually use your card, then there's no risk of unwanted charges.  The only risk you bear is that you might lose your credit card, but that's not a legitimate risk--that's a risk because you're knowingly violating the terms of service for the credit cards.  So if you're not getting paid for a legitimately born risk, and you're not adding any legal value, what are you being paid for?  To assist the fraud.  It's just like the people who launder money.

Feel like the banks don't really care, so it doesn't matter?  Not a legal defense.  It was pushed frequently in the mortgage fraud cases on the basis that the banks just wanted to issue mortgages and didn't care about misrepresentations of salary, references, etc.  Too bad.  Courts held that was not relevant, and not a defense to the misrepresentations (or assists--if you were the one who offered the purported salary or job reference) in a mortgage fraud case. 

Again, all I can do is recommend that you think very carefully about proceeding with this.  Think in particular about what exactly you're getting paid for, what the benefit is to the purported authorized users, and how exactly they benefit.  Once you boil it down, the ultimate goal is to mislead the banks extending credit to the purported authorized users in order to get a better rate, and that's fraud.  All it takes is one interstate wire--which includes a wire of money, and email, anything, almost all of which travel across interstate or international lines--and now it's federal.   

The case is also easy to prove.  Again, not an issue if there are just one or two, but once you engage in the pattern, all it will take is subpoenas to the banks for your records, the bank and payment records for the intermediary entity you're referring to, DMV records for the purported authorized users to show that they have no connection to you or to each other, and indeed, will almost certainly have a comical (to the jury, not you) lack of geographic ties.  The credit entity will testify that they based their loan rate on the belief that the purported authorized user was legit, and the records will show the money to you.  The purported authorized users will testify against you, and they won't be prosecuted because they'll be one off individuals who will get away with claiming that they didn't know that they weren't really authorized users, didn't know what that term meant, etc.  But you won't because there's a pattern, and all the prosecutor has to show is your purported users weren't ever in fact authorized to do anything.  And if you have any thought to paper over it by putting a few charges on the card, ask yourself why you're doing that.  Because it's going to look to the jury like your attempt to make them appear authorized, showing that you knew they weren't really authorized users and negating an ignorance defense.

I enjoy your posts and all the very helpful advice you give on this board.  I'm not looking to debate any of this, but consider it my contribution to your thought process in deciding if this is something you really ought to do.  And to be clear--none of what I'm saying is based on ethical considerations.  It is entirely a question of criminal fraud law.   And I'm not giving you any legal advice.  Just things to consider to do with as you will.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 05:18:13 PM
Thanks for the post, Cycling Stache.

Definitely something everyone considering this should read.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ender on July 17, 2016, 05:46:34 PM
I would be very careful with this.  This appears to be a classic scheme to defraud, and it is a federal crime because of the use of the wires (emails, money transfers, etc.).

<snip>

Realistically, I think it's far more likely that if/when this becomes a problem that the primary resolution is modification for how credit scores work to only include cards where someone is the primary account holder (and not just an authorized user).

Managing and enforcing a "user must be real authorized user" policy is frankly a nightmare. Sure, the government can shutdown and subpoena information for everyone who participates in formalized entities doing this. But that's a big bandaid over a more fundamental problem -- that being an authorized user, with no actual accountability fiscally, somehow improves your credit score.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 06:34:29 PM
Fico 8 already tried to address this issue and the cc companies said no they wanted it left in place.  I don't see how it's wire fraud I think that's quite a stretch. If any aspect of this was wire fraud the companies creating the connection wouldn't be operating on US soil and that would raise all sorts of red flags. There is no law against adding someone as an authorized user to increase their credit. Traditionally it has been a relative or a spouse but there is no law against it.   The same logic could be applied to credit card churning for sign up bonuses. Or the tax loop holes people use.  You can derive almost anything that's a grey area to "fraud" 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 06:50:51 PM
There is likely a small window for this bc it will be exploited and cc companies will change their terms or just start canceling and blacklisting people.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cycling Stache on July 17, 2016, 07:14:49 PM
Fico 8 already tried to address this issue and the cc companies said no they wanted it left in place.  I don't see how it's wire fraud I think that's quite a stretch. If any aspect of this was wire fraud the companies creating the connection wouldn't be operating on US soil and that would raise all sorts of red flags. There is no law against adding someone as an authorized user to increase their credit. Traditionally it has been a relative or a spouse but there is no law against it.   The same logic could be applied to credit card churning for sign up bonuses. Or the tax loop holes people use.  You can derive almost anything that's a grey area to "fraud"

All of this should be treated with caution.

First, with regard to the intermediary companies.  I don't know the companies, but how are they publicly representing the services they provide?  I'm guessing this is not a yellow pages/ads on TV kind of business.  Just because people do something doesn't make it legal.

Second, there is a law against adding someone as an authorized user to increase their credit if the purpose and act of doing it is to materially mislead someone else.  It's fraud, typically involving wires in a case like this because almost anything is likely to be transmitted electronically (else, it would be mail fraud).  Federally, wire fraud is 18 USC section 1343, and aiding and abetting (which makes you equally criminally liable) is 18 USC section 2.  Again, ask yourself what "benefit" you're getting paid for.  The answer is helping someone to get a false credit history that they can use to mislead a financial institution.

Third, credit card churning is different.  Credit card churning involves your signing up for a credit card in order to get a bonus.  There is an exchange of benefits.  You don't misrepresent your past (hopefully), and in exchange the credit card company gives you a credit card that they hope you'll use.  While churning might be (okay, typically is) a violation of terms of service, the key different is that you do not make any material misrepresentations (read, fraud) to the credit card company.

Fourth, "tax loopholes" are different.  You are legally allowed to lawfully avoid the payment of tax.  Thus, if there is a "lawful" loophole, you can take advantage of it solely for the tax benefit.  The key there is that you are not doing something that the law forbids.  (If you are, and you know it, that is tax fraud.)

The key here is the material misrepresentations.  While you might not be prosecuted, you need to realize what you're getting paid for.  In this case, it's to help the authorized users get a false credit history.  Two or three times, probably nobody cares.  But do it to the tune of $20k-$40k a year to help mislead financial institutions?  Don't pretend that's not enough to warrant federal attention.  If you're not sure, pull some cases involving people who assisted with mortgage fraud or health care fraud.  People who work at the bank, people getting $100 per reference, etc.  If they knowingly participate in the scheme to defraud, they're liable.

Again, I'm not giving legal advice.  But it is worth knowing and understanding the law as it may apply. 

     
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 17, 2016, 07:36:25 PM
It's not a false credit history. It is infact part of their credit history as credit is calculated. Which cc companies explicitly wanted left in due to credit for sahp who shouldn't have good credit either.  As I said earlier it's a stretch you're making in my opinion.  But let's take your banking instance. How many of those bankers went to prison. None. Well one guy.  Personally I don't feel I'm misleading anyone. I'm simply adding a user to a card in a system that allows for that. It could easily be argued that the way in which fico scores are calculated and used are then fraudulent due to allowing this ( which I dont think is fraud, but that would be where the fraud would lie).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 17, 2016, 07:51:31 PM
Cycling Stache's concerns are absolutely worth consideration.

I personally disagree, and would add that even if s/he's right, the odds are low that any individual would be prosecuted.  (For example, the RIAA no longer tends to go after individual downloaders, but people who upload things, typically before they're released).

If there were some fraud, and it were prosecuted, I think the credit boosting companies would be the ones they'd go after (and the people actually doing the fraudulent activity, using their new higher credit score).  I think it unlikely that of the thousands doing this, you personally would be the one taking the fall.

But it certainly is possible, I suppose, and Cycling Stache's posts should definitely be read and considered by anyone interested in selling their CC trade lines.  Like boarder42 says, almost anything can be construed as "fraud," but whether it actually is or not would eventually be up to some prosecutor/judge.  I don't feel this is, but you'll need to decide on the risks, ethics, etc. for yourself before you dive in.

This thread (the OP) was just to lay out to other Mustachians the idea, and explain it, and have some discussion around it, including the potential risks.  Hopefully it was helpful to some.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on July 17, 2016, 09:59:37 PM
When you signup and sign a contract, do you have the option to do one or two and then wait a few months before you do any more or are you required to keep adding them as that is part of the contract you signed?

The reason i ask is that I churn and MS, so I would rather not get cards cancelled/blacklisted, but I'm obviously open to accepting some risk in return for generating $$$.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: csprof on July 17, 2016, 11:51:21 PM
  The misrepresentation on your part is that they are authorized users.  An authorized user is one who has access to and the ability to use the credit on your credit card.  In fact, they do not.  While you feel protected behind the shield of the fact that the card is just sent to you, that's easily penetrated when you have a number of different individuals not associated with you in any way who purportedly have the ability to use your cards but never do.  Intend to place a few charges on those cards to make it look legit?  See--there's a fraudulent act to make it legit.

IANAL - and usually, when someone says that, the discussion should stop there. :)  But let me raise a few questions, with no speculation as to the answers:

You defined an authorized user as having both "access to" and "the ability to use".  That's an interesting choice. 

Investopedia defines it thusly:
Quote
DEFINITION of 'Credit Card Authorized User' A person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill.

Note that their definition - which may not be the legal definition - does not mandate "the ability to use".  As such, one might ask whether it is the act of telling your credit card company "this is an authorized user" that makes them an authorized user.  If that were the case, then it would be difficult to make a case that these are not truly authorized users.

A key question about these "unknown" authorized users would seem to be whether if they do acquire the means to use the card -- such as, for example, if they could extract it from their credit report in some way -- if the line trader would well and truly be on the hook for their charges, having explicitly added them as an authorized user.  I would place bets on which way this goes;  it's not often you can say "well, yes, I *did* put that person on my account, but I didn't really meeeeaaann it!" :)

There's a lot more in your note, and I share your wariness about this scheme (it's definitely not for me), but I found this particular definitional question interesting from an intellectual perspective.

The wikipedia article has more discussion:  https://en.wikipedia.org/wiki/Seasoned_tradeline

Though I've got to say - that wikipedia article sounds like it was written by someone who desperately wants the practice to seem acceptable.

(Arebelspy, the ethics point I'd raise is that you've entered into a contract with your credit card company.  The "terms of service" in this case are an explicit, signed, written contract, unlike some horrid and malicious click-through ToS agreement designed to prevent people from ever reaching the end of it.  Unlike many services in life, you don't *have* to have a credit card, and you certainly don't have to have one with that particular company, which means have a choice of contracts to enter into.  Is it ethical for you to violate a contract willingly entered into, to the detriment of the other party?  If so, why?)

((Please note that I'm asking for the amusement of the debate, and you're welcome to ignore me. :)  My personal reasons for steering clear of this center entirely around my perception of the risk -- low expected risk but high potential legal consequences when one party has much deeper pockets than the others.))
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rural on July 18, 2016, 05:39:09 AM
Out of curiosity, ARS:


Do you pay the balances early enough to avoid interest charges?
Have you been doing this long enough to actually get paid, and did you?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 18, 2016, 06:07:31 AM
Out of curiosity, ARS:
Do you pay the balances early enough to avoid interest charges?

Of course, you should always do this.  You let the statement close, and then you pay it before its due date.

Have you been doing this long enough to actually get paid, and did you?

Not yet; I should in about two weeks.  I heard about it at a breakout session at Camp Mustache III over Memorial Day.  I signed up in early June, got my first tradeline sales in mid-June and the second half of June (we got 8 tradeline sales in that half month, have 7 so far this month, and probably more coming in the next two weeks from cards closing towards the end of the month).   So I should get payment for those June trade lines here at the end of July.  The last pay date was June 30 for May orders, but we hadn't started at that point.

The company I use has been around for a few years though; the Mustachian who led the breakout session has been using them for sometime between a year and a year and 1/2, IIRC, and I chatted with other people who have been using them for awhile as well.  I have no doubt I'll get payment here in two weeks, but if you're worried about that, wait a few weeks and ask me again August 1, and I'll report.  ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Polish_Hammer on July 18, 2016, 02:57:03 PM
First off: this is why I love this forum. Ingenious thinking.  Sadly I have two cards: one is Amex (SOL) and the other is Chase who I work for. (SOL).  But an awesome idea none the less, only wish I could partake :(
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on July 18, 2016, 06:07:23 PM

How's the junk mail? That was one of the complaints on the reddit thread I posted. Most of our accounts are registered at our address where renters live, and the others are registered with my parents. I don't want them to start getting a bunch of junk mail addressed to random people.

Of course, you just started, so probably you don't have much junk yet. I'd be interested to hear if you start getting a lot though.

DH is totally sketched out by this scheme. So I won't be registering his 2001 mastercard with a$45k credit line :(.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 18, 2016, 07:04:49 PM
How's the junk mail? That was one of the complaints on the reddit thread I posted.

EDIT: Got an answer to this, placed in my next post in this thread, here (http://forum.mrmoneymustache.com/share-your-badassity/selling-tradelines-piggybacking-$600hr-20-40kyr-side-gig/msg1158809/#msg1158809).

tl;dr: You may occasionally get a piece of mail for them (it's rare), and you can just write "return to sender" on it and stick it back in the mail and you shouldn't get any for them again.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Dollar Slice on July 18, 2016, 07:38:02 PM
I think the idea behind the junk mail is that their name would be associated with your address because you signed them up for a credit card at your address, therefore if the credit card companies are selling names/addresses, you could get stuff to that name at your address.

For a while I was getting occasional mail addressed to my parents at my apartment (in a city where they'd never lived) and I'm guessing it was because they had me as an authorized user on one of their cards and somehow, in some database, that meant we all lived together.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on July 18, 2016, 07:43:35 PM
I think the idea behind the junk mail is that their name would be associated with your address because you signed them up for a credit card at your address, therefore if the credit card companies are selling names/addresses, you could get stuff to that name at your address.

This was my understanding.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 18, 2016, 08:11:39 PM
Who cares throw it in the trash?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on July 18, 2016, 09:22:37 PM
Who cares throw it in the trash?

I don't want to annoy my parents or my renters. That's why I care.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 19, 2016, 05:25:53 AM
Who cares throw it in the trash?

I don't want to annoy my parents or my renters. That's why I care.

you can send it to my address for a 20% cut.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: turketron on July 19, 2016, 10:59:21 AM
following, might have to look into this more. Thanks ARS!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: afuera on July 19, 2016, 11:16:38 AM
Awesome!  Sounds like a great, low-hassle side gig.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on July 19, 2016, 11:38:48 AM
Does anyone know if this is an option for Canadians living in Canada?

I haven't checked in detail, but my guess is no.
Credit scores/histories aren't used extensively as they in the US (they are used for almost everything in the US) and Canadian lenders/credit issuers tend to take income more into account, arguably they are doing more due diligence.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on July 19, 2016, 11:51:57 AM
There is likely a small window for this bc it will be exploited and cc companies will change their terms or just start canceling and blacklisting people.

It has been going on since at least 2007
From the Washington Post (http://www.washingtonpost.com/wp-dyn/content/article/2007/04/06/AR2007040600956.html) via MyMoneyBlog (http://www.mymoneyblog.com/got-good-credit-rent-it-out-for-cash.html)

Unrelated note, man, Jonathon at My Money Blog has been around forever, and has covered everything :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 19, 2016, 12:28:05 PM
There is likely a small window for this bc it will be exploited and cc companies will change their terms or just start canceling and blacklisting people.

It has been going on since at least 2007
From the Washington Post (http://www.washingtonpost.com/wp-dyn/content/article/2007/04/06/AR2007040600956.html) via MyMoneyBlog (http://www.mymoneyblog.com/got-good-credit-rent-it-out-for-cash.html)

Unrelated note, man, Jonathon at My Money Blog has been around forever, and has covered everything :)

yeah and its probably starting to hit its peak as the markets get more saturated with cards.  i'll take an extra 20k a year while i can get it.  just wish i had more cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cwadda on July 19, 2016, 01:56:43 PM
Fico 8 already tried to address this issue and the cc companies said no they wanted it left in place.  I don't see how it's wire fraud I think that's quite a stretch. If any aspect of this was wire fraud the companies creating the connection wouldn't be operating on US soil and that would raise all sorts of red flags. There is no law against adding someone as an authorized user to increase their credit. Traditionally it has been a relative or a spouse but there is no law against it.   The same logic could be applied to credit card churning for sign up bonuses. Or the tax loop holes people use.  You can derive almost anything that's a grey area to "fraud"
I'm with you on this. There is no law that explicitly says you can't add authorized users to increase their credit.

I think about the newer "5/24 rule" that credit card companies started implementing to slow down churning. It's not against the law, but they basically changed their terms and conditions to limit churning.

Similarly, there is no law saying you can't sell your credit card points and miles, yet doing so would completely violate terms and conditions. Having a 3rd party book a flight for some random person using your miles is up the same alley.

I'm not trying to compare apples to apples here, but just wanted to put out a few applicable examples of TOS violations.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 19, 2016, 11:16:19 PM
To address a few concerns that have been brought up...

1) The concern of stolen credit/dead people/fake social security numbers

This is absolutely a valid concern.  The company I use only works only with real people, with real social security numbers and verified proof of identity they keep on file.

They have been in business several years and thousands of trade line sales, and have never had a single case of fraud or attempted ID theft.  This is why I emphasized in the OP that you should make sure you're working with a legitimate company, because there are shady ones out there.

A specific red flag to look out for: ask if the company accepts the use of a "CPN" or credit privacy number, rather than a SSN--social security number.  If so, avoid them, IMO, as these are much more common for scams.  It's your choice, obviously, but that was one of the decisions I made to help stay on the legitimate side of this activity.

2) Concerning junk mail

This is what I was told when I inquired about this:
Quote
Will I begin to receive mail addressed to the authorized user?   Unlikely. Although it is somewhat rare, it is not unusual for an investor to receive a letter addressed to an AU you had recently added, and it is no security concern. Many of these AUs are purchasing tradelines to boost their credit score in order to establish their own credit. Some either did not have family members to help establish their credit or may have had great credit in their home country, but when they came to the United States they lost all that good credit history and have to start over. As such, when the AU applied for their credit card, the bank saw that a new address had recently been added to their credit profile. To ensure that they receive their credit card and future offers, the bank sends a letter to both the address they applied with (their own address), as well as the new address on file.

Again, these pieces of mail consist of either courtesy confirmation letters or credit card offers and are in no way tied to you. Your name will not be listed on the mail, which is again, because the mail has no connection with you, but are sent to your address since the most recent address on the AU’s credit file is your address. After you remove the AU, your address will fall off their credit file in about 30­60 days. Should you receive another piece of mail addressed to them, say if they apply for another credit card and they send them a courtesy letter or offers for other credit cards, simply write "return to sender" on the envelope and stick it back in your mailbox and the post office will know not to send any future correspondence with that name to your address.

Thanks for everyone contributing to this thread. This is definitely an interesting opportunity, but also one that has obvious pitfalls and concerns.  Hopefully by sharing what we can here in this thread, we can all learn more from each other.

Cheers!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on July 19, 2016, 11:54:25 PM
To address a few concerns that have been brought up...

1) The concern of stolen credit/dead people/fake social security numbers

This is absolutely a valid concern.  The company I use only works only with real people, with real social security numbers and verified proof of identity they keep on file.

They have been in business several years and thousands of trade line sales, and have never had a single case of fraud or attempted ID theft.  This is why I emphasized in the OP that you should make sure you're working with a legitimate company, because there are shady ones out there.

A specific red flag to look out for: ask if the company accepts the use of a "CPN" or credit privacy number, rather than a SSN--social security number.  If so, avoid them, IMO, as these are much more common for scams.  It's your choice, obviously, but that was one of the decisions I made to help stay on the legitimate side of this activity.

2) Concerning junk mail

This is what I was told when I inquired about this:
Quote
Will I begin to receive mail addressed to the authorized user?   Unlikely. Although it is somewhat rare, it is not unusual for an investor to receive a letter addressed to an AU you had recently added, and it is no security concern. Many of these AUs are purchasing tradelines to boost their credit score in order to establish their own credit. Some either did not have family members to help establish their credit or may have had great credit in their home country, but when they came to the United States they lost all that good credit history and have to start over. As such, when the AU applied for their credit card, the bank saw that a new address had recently been added to their credit profile. To ensure that they receive their credit card and future offers, the bank sends a letter to both the address they applied with (their own address), as well as the new address on file.

Again, these pieces of mail consist of either courtesy confirmation letters or credit card offers and are in no way tied to you. Your name will not be listed on the mail, which is again, because the mail has no connection with you, but are sent to your address since the most recent address on the AU’s credit file is your address. After you remove the AU, your address will fall off their credit file in about 30­60 days. Should you receive another piece of mail addressed to them, say if they apply for another credit card and they send them a courtesy letter or offers for other credit cards, simply write "return to sender" on the envelope and stick it back in your mailbox and the post office will know not to send any future correspondence with that name to your address.

Thanks for everyone contributing to this thread. This is definitely an interesting opportunity, but also one that has obvious pitfalls and concerns.  Hopefully by sharing what we can here in this thread, we can all learn more from each other.

Cheers!  :)

And thank you for all the info! I'm going to go ahead and give it a test run as well and i'll report back here on my result.  I'm pretty intrigued, but I still can't quite shake the  "too good to be true" feeling.  Guess I'll find out.   
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Pav on July 21, 2016, 01:01:49 PM
When I worked in banking, I was always under the impressions that becoming an "Authorized User" of a credit card did nothing to your credit score. Becoming a "co-owner" is what effects the score. Has anyone seen the proof of how this helps the intended client?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 21, 2016, 02:50:53 PM
When I worked in banking, I was always under the impressions that becoming an "Authorized User" of a credit card did nothing to your credit score. Becoming a "co-owner" is what effects the score. Has anyone seen the proof of how this helps the intended client?

pretty sure there wouldnt be an industry for it that has been around over 10 years if people werent actually getting raised credit scores buying them. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 21, 2016, 02:59:00 PM
When I worked in banking, I was always under the impressions that becoming an "Authorized User" of a credit card did nothing to your credit score. Becoming a "co-owner" is what effects the score. Has anyone seen the proof of how this helps the intended client?

Yes, I have some very direct proof: myself.

My parents added me as an authorized user on one of their cards, which was 15 years old, when I was 16 (it was opened a year after I was born).  I immediately had great credit, and that made getting credit cards and such when I was first starting out very easy (obviously a potential double edged sword if you don't know how to use credit).

IMO, all parents should add their kids to their cards (assuming the cards have a good history), and teach them to use credit responsibly.

The wife and I are thinking of adding her younger sister to some of our cards before they buy a house.

Authorized users definitely have their scores increased by having the card on their credit report.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cwadda on July 21, 2016, 03:04:50 PM
Does anyone have any tips for increasing their credit limits to $10k? I tried asking for that but got countered to $3900. Which is surprising because I have pristine credit and 2+ years of credit history. I also have increased income after I graduated college.

Should I try visiting the bank in person?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Yankuba on July 21, 2016, 03:05:56 PM
I would be very careful with this.  This appears to be a classic scheme to defraud, and it is a federal crime because of the use of the wires (emails, money transfers, etc.).

The key is that you're assisting in a scheme to mislead the entities issuing credit to the people that you seek to add as authorized users.  Put aside the ethical issues for a second.  Those entities lend money to individuals at a certain rate based on a certain credit history.  Anything dishonest misleads the entities into lending at a different rate, and the consequences in aggregate do matter assuming that the entities price their credit correctly.  It doesn't matter whether you believe the credit entities should charge the rates they do, etc.  The only thing that matters is the misrepresentation to the entities extending credit of those individuals credit histories.

So how does that affect you?  You're helping them in the scheme to defraud.  Specifically, by adding them to your credit card as authorized users, you create a false credit history for them.  It doesn't matter that they're not family members or that there is an "other" category.  The misrepresentation on your part is that they are authorized users.  An authorized user is one who has access to and the ability to use the credit on your credit card.  In fact, they do not.  While you feel protected behind the shield of the fact that the card is just sent to you, that's easily penetrated when you have a number of different individuals not associated with you in any way who purportedly have the ability to use your cards but never do.  Intend to place a few charges on those cards to make it look legit?  See--there's a fraudulent act to make it legit.

While you could claim ignorance for one or two and you probably wouldn't be prosecuted, once you do this on a systematic basis, it's going to be easy to prove that your authorized users are nothing of the kind, and that you're getting paid to add them shortly before they apply for credit somewhere else.

How else do you prove it?  You're getting paid.  For what?  If the purported authorized users can't actually use your card, then there's no risk of unwanted charges.  The only risk you bear is that you might lose your credit card, but that's not a legitimate risk--that's a risk because you're knowingly violating the terms of service for the credit cards.  So if you're not getting paid for a legitimately born risk, and you're not adding any legal value, what are you being paid for?  To assist the fraud.  It's just like the people who launder money.

Feel like the banks don't really care, so it doesn't matter?  Not a legal defense.  It was pushed frequently in the mortgage fraud cases on the basis that the banks just wanted to issue mortgages and didn't care about misrepresentations of salary, references, etc.  Too bad.  Courts held that was not relevant, and not a defense to the misrepresentations (or assists--if you were the one who offered the purported salary or job reference) in a mortgage fraud case. 

Again, all I can do is recommend that you think very carefully about proceeding with this.  Think in particular about what exactly you're getting paid for, what the benefit is to the purported authorized users, and how exactly they benefit.  Once you boil it down, the ultimate goal is to mislead the banks extending credit to the purported authorized users in order to get a better rate, and that's fraud.  All it takes is one interstate wire--which includes a wire of money, and email, anything, almost all of which travel across interstate or international lines--and now it's federal.   

The case is also easy to prove.  Again, not an issue if there are just one or two, but once you engage in the pattern, all it will take is subpoenas to the banks for your records, the bank and payment records for the intermediary entity you're referring to, DMV records for the purported authorized users to show that they have no connection to you or to each other, and indeed, will almost certainly have a comical (to the jury, not you) lack of geographic ties.  The credit entity will testify that they based their loan rate on the belief that the purported authorized user was legit, and the records will show the money to you.  The purported authorized users will testify against you, and they won't be prosecuted because they'll be one off individuals who will get away with claiming that they didn't know that they weren't really authorized users, didn't know what that term meant, etc.  But you won't because there's a pattern, and all the prosecutor has to show is your purported users weren't ever in fact authorized to do anything.  And if you have any thought to paper over it by putting a few charges on the card, ask yourself why you're doing that.  Because it's going to look to the jury like your attempt to make them appear authorized, showing that you knew they weren't really authorized users and negating an ignorance defense.

I enjoy your posts and all the very helpful advice you give on this board.  I'm not looking to debate any of this, but consider it my contribution to your thought process in deciding if this is something you really ought to do.  And to be clear--none of what I'm saying is based on ethical considerations.  It is entirely a question of criminal fraud law.   And I'm not giving you any legal advice.  Just things to consider to do with as you will.

+1

This is a sketchy, foul smelling scheme. You're getting paid to cheat lenders. This crosses the line and is disgusting IMO
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DrF on July 21, 2016, 03:09:19 PM
Does anyone have any tips for increasing their credit limits to $10k? I tried asking for that but got countered to $3900. Which is surprising because I have pristine credit and 2+ years of credit history. I also have increased income after I graduated college.

Should I try visiting the bank in person?

You should open other cards. Once you have those cards open then you can request more credit on the original card. Credit card companies don't like it if you only have 1 card. After you have a few cards for a few years they give you 10-20k limits right when you open a new card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DrF on July 21, 2016, 03:09:59 PM
How do you get paid? Direct deposit or physical check?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 21, 2016, 03:13:56 PM
How do you get paid? Direct deposit or physical check?

Direct deposit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Paul der Krake on July 21, 2016, 03:16:41 PM
When I worked in banking, I was always under the impressions that becoming an "Authorized User" of a credit card did nothing to your credit score. Becoming a "co-owner" is what effects the score. Has anyone seen the proof of how this helps the intended client?

Yes, I have some very direct proof: myself.

My parents added me as an authorized user on one of their cards, which was 15 years old, when I was 16 (it was opened a year after I was born).  I immediately had great credit, and that made getting credit cards and such when I was first starting out very easy (obviously a potential double edged sword if you don't know how to use credit).

IMO, all parents should add their kids to their cards (assuming the cards have a good history), and teach them to use credit responsibly.

The wife and I are thinking of adding her younger sister to some of our cards before they buy a house.

Authorized users definitely have their scores increased by having the card on their credit report.  :)
One-up story: wife has been an AU on a chase card that was originally opened 10 years before she was born. Judging from the reactions she would get, college town bankers don't see many freshmen with 800+ scores and almost 30 years of perfect payment history very often.

Anyone who pays their bills on time can give their kids a massive leg up in the world in under 5 minutes by doing this. They don't even have to know about it, just cut up the card when it gets delivered.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Dollar Slice on July 21, 2016, 03:33:12 PM
When I worked in banking, I was always under the impressions that becoming an "Authorized User" of a credit card did nothing to your credit score. Becoming a "co-owner" is what effects the score. Has anyone seen the proof of how this helps the intended client?

Yes, I have some very direct proof: myself.

Yes, my parents added me as an AU on their card and I can see the oldest line of credit is years before I ever had my own credit card. And the average age is about 50% older than it really should be because I've been on two of their cards over the years (one back when I was in college, one currently). I didn't check my credit report until after I'd been added on their cards so I can't say for sure if the FICO changed, but I would assume so.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on July 21, 2016, 03:51:31 PM
ARS, what is the suggested ideal strategy for people who want to both do travel hacking / credit card churning and selling tradelines and maximize their ROI?

I've done credit card hijinks for a long time and suspect I could probably come up with 10-12 lines that could work for this.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 21, 2016, 03:54:00 PM
Are the listed banks the only ones this works with? I have 2 Chase cards and SO has a Chase card and a USAA card that meet the criteria. My other cards are AMEX or not old enough.

It depends on the trade line company you use.

For the company I use: Chase works fine (though be careful with them, as I mentioned in the OP, they're the one to be most careful about, such that the company I use restricts Chase to every 3rd month instead of every other to help reduce the chances of getting them shut down).  USAA works, I believe.

A bunch of cards work (Citi, Fidelity, Discover, Barclay, etc. etc.).  Amex don't, business cards don't, PenFed doesn't.  Most other ones do, or can be set up.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 21, 2016, 03:57:07 PM
ARS, what is the suggested ideal strategy for people who want to both do travel hacking / credit card churning and selling tradelines and maximize their ROI?

I've done credit card hijinks for a long time and suspect I could probably come up with 10-12 lines that could work for this.

They shouldn't interfere at all--you use your old cards (2+ years) to sell trade lines on, and you open new cards to travel hack.

If anything, selling trade lines may help you travel hack, due to raising your credit limits on older ones to get paid more for them, and that helping your score and getting auto-approvals for travel hacking.  Also, for example, two cards I had that just hit two years old that I would normally have cancelled because of the $89 annual fee, I left open because I can (and did) enroll them in this.  Those will eventually help my score as well.

If it's a card that you can get bonuses multiple times, but have to cancel and wait 18 mo. or whatever (rare, but they happen), obviously just cancel those and don't use them for selling trade lines.

But there's no reason selling trade lines on older cards should interfere with getting new cards for travel hacking/churning.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: h82goslw on July 22, 2016, 05:00:09 AM
Following
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: SamIAm38 on July 22, 2016, 07:04:47 AM
Really interesting, thanks for spending the time to communicate this
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: iris lily on July 22, 2016, 12:32:43 PM
Just to follow.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on July 22, 2016, 10:32:25 PM
I'm not claiming as a business. I'm just claiming as misc income then you avoid the self employment tax. It's not hardly enough income to raise a flag imo. It's all free money why do you care about withholding. You're on this site just save it and don't spend it.

I'm not an expert on 1099's, but from a quick Google, if they give you a 1099-MISC and report the payments to you in box 3, it seems OK to put that amount down as other income as boarder42 describes.  If they report their payments to you in box 7, it seems that one ought to put it on schedule C and SE and pay the self-employment taxes on top of the income taxes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Spitfire on July 23, 2016, 05:39:12 AM
Are those lines that you can sell per card the safe amount, or would it be smart to sell less (for example, sell 4 lines on a citi card instead of 5)?

Also, what is your signal that you should remove someone, when you get paid so you know everything is posted? Soon as you get your next bill?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on July 23, 2016, 05:41:08 AM

Also, what is your signal that you should remove someone, when you get paid so you know everything is posted? Soon as you get your next bill?

The site tells you the exact date to remove someone.  For me, it has been one day before my statement posts.  So you add them a day or two before the statement, then remove them a day before as well.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 23, 2016, 05:54:55 AM
Are those lines that you can sell per card the safe amount, or would it be smart to sell less (for example, sell 4 lines on a citi card instead of 5)?

For the site I use, they've pretty much tailored it to be specific to the cc company in question.. so some they have capped at 2 (Bank of America, a few others), Chase is capped at 2 (but they recommend you just use one) and they have it on a 3-month rotation instead of 2 months, etc.  You can always do less if you're worried, but I'm basically good with their recommendations (e.g. if they say, in their experience, Discover doesn't cancel people's cards for having 5 AUs, I'm good with that.. if something changes, it happens, but they're the ones with the data--they don't want your cards shut down either).


Also, what is your signal that you should remove someone, when you get paid so you know everything is posted? Soon as you get your next bill?

The site tells you the exact date to remove someone.  For me, it has been one day before my statement posts.  So you add them a day or two before the statement, then remove them a day before as well.

Yup.  They tell you when you can remove them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on July 23, 2016, 07:19:30 AM
Posting to follow.

It's probably not an activity I'll pursue myself, but it's reminded me that I ought to add my nieces and nephews as authorized users to give them a leg up in the future.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: oneday on July 23, 2016, 06:43:20 PM

Snip

Quote
Will I begin to receive mail addressed to the authorized user?   

Snip

Should you receive another piece of mail addressed to them, say if they apply for another credit card and they send them a courtesy letter or offers for other credit cards, simply write "return to sender" on the envelope and stick it back in your mailbox and the post office will know not to send any future correspondence with that name to your address.

This is contrary to my experience.  The PO doesn't seem care about names, just the address.  I've been in my current place 10 years & still get mail for the former owner.  And I've had this experience over & over in different places.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 23, 2016, 07:24:00 PM
Who the f cares about mail you throw in the trash. This whole i would trade 20-30k for no junk mail take is beyond comprehension.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 23, 2016, 07:36:08 PM
I have a couple concerns before I would consider getting into something like this:

1) Do you have any idea of what kind of total timeframe these kind of companies have been operating for and what kind of future this side hustle has?... It would be a shame to get all excited about this only to be able to get 4 months in and government entity cracks down... Also someone who did not have cards that meet this criteria might open many cards waiting for 2 years to get started and then have this whole thing shut down before those cards are eligible

2) I'm really concerned about authorized users calling up and trying to get their card resent to their address. I feel like being an AU on a card would give these people opportunities to sweet talk a customer service representative into somehow getting them access to spend money on the credit line. Like you said in a previous post ARS, they are permitted to spend money on the card but don't have a means to... well what if they somehow create a means to access the account through customer service?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on July 23, 2016, 07:44:14 PM
Datapoint (maybe?):

One redditor (vflame) claims 3 of his 5 cards were shutdown due to piggybacking.

https://www.reddit.com/r/financialindependence/comments/395sa0/experience_opinion_on_credit_card_piggybacking/
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 23, 2016, 07:55:44 PM
1) Do you have any idea of what kind of total timeframe these kind of companies have been operating for and what kind of future this side hustle has?... It would be a shame to get all excited about this only to be able to get 4 months in and government entity cracks down... Also someone who did not have cards that meet this criteria might open many cards waiting for 2 years to get started and then have this whole thing shut down before those cards are eligible

Depends on the company.  Some for years. 

As CanuckExpat pointed out, the activity itself has been going on for at least a decade:
It has been going on since at least 2007
From the Washington Post (http://www.washingtonpost.com/wp-dyn/content/article/2007/04/06/AR2007040600956.html) via MyMoneyBlog (http://www.mymoneyblog.com/got-good-credit-rent-it-out-for-cash.html)

I wouldn't build any FIRE plans around this lasting forever, but I'd be happy to get two years out of it before any changes, or before cards get shut down, or whatever.  I don't anticipate either of those, but as boarder42 said, it's basically free money (the $/hour rate is ridiculous), so I'll ride it while I can.

There's a lot of churning/CC hacking stuff I only heard about afterwards and have been like "dang, bummer I missed that"--wouldn't be surprised if in a year, two years, whatever, something changes and I'm instead going "well, it was good while it lasted."

I wouldn't be opening new cards to do this in two years, but I definitely left cards open recently that just hit two years I had for travel hacking, and would have normally cancelled due to the $89 annual fee, but instead kept open and enrolled in this.

And if something does change (say with FICO calculations or something) and it gets shut down in 6 months, and you've made 10 grand in the meantime.. great?  You still have all your cards, an extra 5 figures in the bank, and it probably took you something like 10 hours for that 10 grand.  I'm okay with that.  :)

Quote
2) I'm really concerned about authorized users calling up and trying to get their card resent to their address. I feel like being an AU on a card would give these people opportunities to sweet talk a customer service representative into somehow getting them access to spend money on the credit line. Like you said in a previous post ARS, they are permitted to spend money on the card but don't have a means to... well what if they somehow create a means to access the account through customer service?

All major CC companies have a policy to only ship the card to the primary person's address (i.e. you).  If the AU calls in, they don't have any info to verify the account or change anything (they don't have your social, or DOB, or anything).  They are not an authorized user on the account itself to change any information.

Feel free to call your credit card company, right now, and ask them questions about authorized users.  Ask them if you add an AU, where is the card sent?  Ask them if the AU calls and wants a card sent to them (or wants to change the address on their account), can that happen?  The answers will be your house, and no, and no.

Go ahead and give them a call (the number on the back of your card) if you're worried about this.  The CC companies themselves will tell you it can't happen.  :)

(I did this myself, FWIW.)

One redditor (vflame) claims 3 of his 5 cards were shutdown due to piggybacking.

Without more data, hard to say anything on that.   It is certainly a risk, one that can be mitigated by putting less AUs on, and doing it less frequently.

For example, you could add up to 10 AUs (IIRC) on B of A, and do that every month.  The company I use caps it to 2 AUs, every 2 months.  They have experience with what the cc companies will/won't allow, and have different guidelines per credit card company.  Cards getting shut down definitely can happen.  If you go all out with this (and some companies will let you, because they don't care if you burn your cards), certainly you will get shut down.  If you're reasonable, perhaps not.

If that reddit user was doing a ton of AUs over and over on a card where the cc company is finickier, I totally believe they were shut down.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 23, 2016, 08:32:34 PM
I wouldn't be opening new cards to do this in two years
Well if I don't open any more than I have 2 cards that meet the criteria:

1) is a capital one which is my oldest line of credit and I don't really want to loose
2) is a citi card that I use on everything for 2% cashback


I feel like I can't use either of these because i don't want my oldest line of credit closed and I don't want my primary card I use on almost everything closed. Are these valid concerns? would you use your main cards on this or basically just old churning cards you don't give two shits about?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 23, 2016, 08:50:18 PM
I wouldn't be opening new cards to do this in two years
Well if I don't open any more than I have 2 cards that meet the criteria:

1) is a capital one which is my oldest line of credit and I don't really want to loose
2) is a citi card that I use on everything for 2% cashback


I feel like I can't use either of these because i don't want my oldest line of credit closed and I don't want my primary card I use on almost everything closed. Are these valid concerns? would you use your main cards on this or basically just old churning cards you don't give two shits about?

Disclaimer: It's 100% up to you.  If you aren't comfortable using them, DON'T.  Full stop, it's that simple.  :)

I will let you know some thoughts on why I'd use them, personally.  Regarding the first of the cards, even if it is cancelled, it stays on your credit report for up to 10 years.  So just because it's old, and sitting, isn't a reason not to use it, IMO.  You'll still have it on your report if it is cancelled, so might as well use it.

Now if it is cancelled, that'd be a bit bad for you, specifically, because you have so few accounts, so that would drop your available credit a lot (and raise your DTI).

With only two cards, I would be opening more anyways (even if this program didn't exist), to increase your available credit, show a higher diversity of accounts, start having more accounts aging on your report, and (most importantly?) for travel hacking bonuses!

With the second card you mention, you use it for 2% cash back.. okay, that's fine. This program should offer way more cash than whatever amount you earn in cash back, for one, but for two, just open another 2% cash back card? There's plenty.  Then put all your spending on that new card to get 2% back, and use your old 2% cash back for this program.

In other words, I'd definitely be opening new cards, but mainly to help your credit down the line.  That it lets you use your old cards for this is a profitable bonus.  There are other reasons, for you, why you may want to open new cards.  I wouldn't be opening them just to wait two years to use them for a trade line sales program, personally.  I'd be putting my old cards in this, and opening new ones also.

I think one's credit is an important asset to manage.  If this hurt your credit score, I'd likely avoid it (or at least really have to weigh it versus the payout--I may still do a few, just because the payment is SO ridiculous).  IMO, everyone should be working to build their credit.  But also, I think it's an asset to utilize.  It does you no good just sitting there.  Getting a good credit score to have it sit is pointless, unless you want bragging rights.  To me, utilizing it for balance transfer arbitrage, travel hacking, churning, and trade line sales is a smart use of your credit score, an important asset.

I'm sure plenty of other people would read your post, say "it's not worth it," and not enroll the cards.  That's absolutely fine.  I'm just saying why I would, and why I think it's good to build your credit, and then use it.

But again, read the first sentence of my reply, under the quote.  If it doesn't make you comfortable, don't do it.  Just giving some other thoughts that might be relevant to you (or someone else with a few old cards wondering the same thing).   :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 24, 2016, 07:22:20 AM
I'm  opening new cards. They are giving me bonuses. But I plan to pay the annual fee next year and then put them in this system the following year
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: oneday on July 24, 2016, 09:24:00 AM
Who the f cares about mail you throw in the trash. This whole i would trade 20-30k for no junk mail take is beyond comprehension.

Are you replying to me?  Because I don't care about your 20K one way or the other.  Just sharing my experience with the mail, especially after ARS's comical (to me) comment about how efficient the USPS (supposedly) is.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 24, 2016, 01:45:43 PM
ARS, Do you think you will be able to or have you talked to people who have told you that you can consistently sell all your available slots on your cards? Like for example my GF and I added together have 3 different citi cards... does that mean consistent have 15 tradeline sales every 2 months?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 24, 2016, 01:53:22 PM
ARS, Do you think you will be able to or have you talked to people who have told you that you can consistently sell all your available slots on your cards? Like for example my GF and I added together have 3 different citi cards... does that mean consistent have 15 tradeline sales every 2 months?

Citi is done on a monthly rotation. So it would be 15 a month
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 24, 2016, 02:04:49 PM
ARS, Do you think you will be able to or have you talked to people who have told you that you can consistently sell all your available slots on your cards? Like for example my GF and I added together have 3 different citi cards... does that mean consistent have 15 tradeline sales every 2 months?

Citi is done on a monthly rotation. So it would be 15 a month

I guess what I'm asking is if these companies consistently fill up all the slots for the investors because 200/month * 15 tradelines * 12 months in a year is just a stupid amount of money per year.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 24, 2016, 02:07:39 PM
ARS, Do you think you will be able to or have you talked to people who have told you that you can consistently sell all your available slots on your cards? Like for example my GF and I added together have 3 different citi cards... does that mean consistent have 15 tradeline sales every 2 months?

Citi is done on a monthly rotation. So it would be 15 a month

I guess what I'm asking is if these companies consistently fill up all the slots for the investors because 200/month * 15 tradelines * 12 months in a year is just a stupid amount of money per year.

It's around 150 unless all your limits are over 30k. But yes this is an absurd amount of money see ars OP where he expects to make 20-40k annually. I don't have any 5 spot cards til this winter but it my understanding they have the demand
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 24, 2016, 02:14:32 PM
ARS, Do you think you will be able to or have you talked to people who have told you that you can consistently sell all your available slots on your cards? Like for example my GF and I added together have 3 different citi cards... does that mean consistent have 15 tradeline sales every 2 months?

Citi is done on a monthly rotation. So it would be 15 a month

I guess what I'm asking is if these companies consistently fill up all the slots for the investors because 200/month * 15 tradelines * 12 months in a year is just a stupid amount of money per year.

It's around 150 unless all your limits are over 30k. But yes this is an absurd amount of money see ars OP where he expects to make 20-40k annually. I don't have any 5 spot cards til this winter but it my understanding they have the demand

Yea I've read most of this thread but didn't remember him addressing if they actually had the demand to fill all our slots yet... I think my GF and I are going to try this out... We happen to have 2 citi cards "maturing" to 2 years old here in a few months and she has a different citi card that is very old so think we're gonna try it out on that old one and if everything goes well we could have 3 citi cards in the mix and I will be beyond thrilled...

I'm waiting for the big "GOTCHA man you should have seen your face this isn't actually real" because it really seems too good to be true
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 24, 2016, 02:41:35 PM
It's ridiculous. I don't know how long it will last but I'll milk it til it's gone
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 24, 2016, 02:45:09 PM
Regarding selling out all the lines or not, from the OP:
Some months are slower (less people using credit, it's cyclical) so you might not make as much, some months you'll fill up everything.

There are months where people are buying a ton of cars, etc. and you'll sell them out.  There are other months where you may not.

The bigger indicator for the sale: how big your credit line is, and how old the card is.

Obviously a 10 year old card with 30,000 credit line helps someone's score way more than a two years old card with a 10,000 line.  So people are more likely to buy it.  You get paid more for having a larger credit line, age doesn't change your payment amount, but it does make it more likely to sell out.

I've definitely sold more lines on my older cards, but I have sold lines on a card I enrolled in June that just turned 2 years old in June.  So you can get sales on newer (2-5 yr) cards, for sure, but IDK if you'll sell them out consistently.

But yes, as I said, the numbers get silly quickly.  In your case, if you did sell out 3 cards that had 5 slots every other month, and were in the 10k-20k range ($225 commission), you'd get paid $3,375 every two months, or  $20,250/yr.  Total work = 2 min to add them online per trade line (15 trade lines = 30 min every other month), 2 minutes per card to make sure there's a spend on it (take each to grocery store, or load up Amazon gift balance, or whatever, say 5 cards x 2 min = 10 min/ mo = 20 every other mo), then call once/mo to remove = 5-10 min depending on how long you're on hold = 10-20 min every other month... total = 1 hour to 1 hour 10 min every other month = 6-7 hours/yr.  For 20k.

Now, realistically, maybe you make half that (10k?).  Maybe more, if one of the cards is older.  And selling every other month means they certainly can fill up all 5 spots over the course of that time.  Maybe 3-4/5 is a realistic number, I'm not sure, so probably more than half.

Like you said, almost too good to be true, and that's why I'm not counting it in my ER budget projections.  I'll go with it while I can, and be happy about it, but not count on it in perpetuity.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: cavewoman on July 24, 2016, 03:24:39 PM
If I jumped on this crazy train,  does anyone know if adding these AUs would have a negative impact on our potential mortgage loan? I have stopped opening new cards until we are done with the home buying  process, but if this doesn't hurt the way a hard pull would, then maybe i can try it out
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 24, 2016, 03:27:10 PM
If I jumped on this crazy train,  does anyone know if adding these AUs would have a negative impact on our potential mortgage loan? I have stopped opening new cards until we are done with the home buying  process, but if this doesn't hurt the way a hard pull would, then maybe i can try it out

There is literally zero impact to your credit score, adding or removing an AU.  There are no credit pulls done.

Only, like I mentioned, if a card is closed, it can impact your score (by having less available credit, so raising your DTI by default).  It won't change your DTI for the mortgage calculations though, obviously.  And any card closure wouldn't happen soon, if at all. 

Like with other caveats, if it makes you uncomfortable, don't do it, but I don't see a reason why starting this should affect buying a house (or the interest rate you get, or anything) in any way.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rural on July 24, 2016, 05:54:29 PM
If I jumped on this crazy train,  does anyone know if adding these AUs would have a negative impact on our potential mortgage loan? I have stopped opening new cards until we are done with the home buying  process, but if this doesn't hurt the way a hard pull would, then maybe i can try it out

There is literally zero impact to your credit score, adding or removing an AU.  There are no credit pulls done.

Only, like I mentioned, if a card is closed, it can impact your score (by having less available credit, so raising your DTI by default).  It won't change your DTI for the mortgage calculations though, obviously.  And any card closure wouldn't happen soon, if at all. 

Like with other caveats, if it makes you uncomfortable, don't do it, but I don't see a reason why starting this should affect buying a house (or the interest rate you get, or anything) in any way.


If the house purchase is quite soon, a lender might possibly want to look at where the direct deposits are coming from.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 24, 2016, 06:54:30 PM
If I jumped on this crazy train,  does anyone know if adding these AUs would have a negative impact on our potential mortgage loan? I have stopped opening new cards until we are done with the home buying  process, but if this doesn't hurt the way a hard pull would, then maybe i can try it out

There is literally zero impact to your credit score, adding or removing an AU.  There are no credit pulls done.

Only, like I mentioned, if a card is closed, it can impact your score (by having less available credit, so raising your DTI by default).  It won't change your DTI for the mortgage calculations though, obviously.  And any card closure wouldn't happen soon, if at all. 

Like with other caveats, if it makes you uncomfortable, don't do it, but I don't see a reason why starting this should affect buying a house (or the interest rate you get, or anything) in any way.


If the house purchase is quite soon, a lender might possibly want to look at where the direct deposits are coming from.

Ooh, great point.  If your down payment is coming from the same account that you have these payments deposited into, they certainly might (and VERY likely will) ask where those deposits came from (a post-9/11 banking regulation relating to potential money laundering for terrorism, I believe).

Basically they'll want to "source" the funds of the down payment.

I'd use a different account for those deposits as your down payment account, and just provide them with the statements for the account the down payment is coming from (and make sure to have that money sitting in there for, IIRC, 3 months--talk with your mortgage broker on the regs on this one).

Good catch, Rural!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rural on July 24, 2016, 07:26:11 PM
If I jumped on this crazy train,  does anyone know if adding these AUs would have a negative impact on our potential mortgage loan? I have stopped opening new cards until we are done with the home buying  process, but if this doesn't hurt the way a hard pull would, then maybe i can try it out

There is literally zero impact to your credit score, adding or removing an AU.  There are no credit pulls done.

Only, like I mentioned, if a card is closed, it can impact your score (by having less available credit, so raising your DTI by default).  It won't change your DTI for the mortgage calculations though, obviously.  And any card closure wouldn't happen soon, if at all. 

Like with other caveats, if it makes you uncomfortable, don't do it, but I don't see a reason why starting this should affect buying a house (or the interest rate you get, or anything) in any way.


If the house purchase is quite soon, a lender might possibly want to look at where the direct deposits are coming from.

Ooh, great point.  If your down payment is coming from the same account that you have these payments deposited into, they certainly might (and VERY likely will) ask where those deposits came from (a post-9/11 banking regulation relating to potential money laundering for terrorism, I believe).

Basically they'll want to "source" the funds of the down payment.

I'd use a different account for those deposits as your down payment account, and just provide them with the statements for the account the down payment is coming from (and make sure to have that money sitting in there for, IIRC, 3 months--talk with your mortgage broker on the regs on this one).

Good catch, Rural!


I do believe I've learned some things around here. :-)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: whodidntante on July 24, 2016, 09:00:22 PM
What about Elan cards? I have a non rewards Visa with them that I could afford to lose.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 24, 2016, 09:08:16 PM
What about Elan cards? I have a non rewards Visa with them that I could afford to lose.

Funny you ask about them--you're actually the second person to mention them to me.

I also have a card with them (issued by Associated Bank), I asked the company I use about it a bit ago, and they told me "We have not worked with Elan Financial Services, but if you're interested in using it, I'd have you check into if it would work for our program."  I never ended up following up on it though.

So the company I use is a "maybe" on that--be curious to hear if you find any that do use it.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: PAstash on July 24, 2016, 09:45:12 PM
It's gonna be a 1099 misc. They won't withhold taxes. So you'll have to track that on your own.
How do I figure out how much to with hold?

It'll be at your marginal rate for federal and state tax, then 15.3% FICA self employment tax.

Here are the current tax brackets: http://taxfoundation.org/article/2016-tax-brackets

So for Colorado and Federal and FICA is 4% + 25% + 15% = 44% taxes?  Holy sh!t.

would this qualify you for a SEPP IRA?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: PAstash on July 24, 2016, 10:05:03 PM
Odd thought. We're in the process of selling my DH's family home to his cousin. I don't know what her credit is like (probably not bad, but not all that good since she's a single mom who's a teacher), but I'm now thinking that adding her as an AU on a card might help her qualify for a better rate. Have to think about that.

Very likely.  :)

So if this is the difference between them making their rent payment or not, due to less interest paid on their car, or the difference between them getting to keep it and having it repossessed, or whatever, that seems like a good thing, to me.

Correct me, of course, if I'm misrepresenting you here, ARS...

If I'm recalling correctly, this aligns with your take on Kiva. i.e., I think you once said you don't like or support Kiva charging crazy-high interest. You and I feel differently about Kiva, which is totally fine, of course. But I appreciate the consistency in your take, and am happy to point out here that this activity is not one you apply only to make personal cash—it's a perspective you apply in various scenarios, whether you are making money or not, and including when you give charitably. You are ethically opposed to crazy high interest. You like increasing people's access to necessities. You see a relationship between high interest and some people's inability to eat or be sheltered. You see differences in 'legal', 'legalistic', 'moral', and 'ethical'.

I appreciate all of that.

(And thanks for responding to my Canada q.)

Yup, absolutely.  I hadn't thought about the connection, but you put it beautifully. 

I think we all draw different lines in different places, and have our own ideas of what is moral/ethical, and it's important to know what your values are, and live accordingly.

:)

Been following this conversation. My hat goes off to the two of you for the level headed polite discourse.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on July 25, 2016, 03:49:02 PM
This is all very interesting. Still haven't decided if I'd be comfortable with it.

A question and an observation

You said occasionally you'll get mail addressed to a previous authorized user. Has that ever tripped you up with identity verification questions? The kind you get when opening a bank account online - typically three multiple choice questions. A couple times I've been asked who I've lived with.

I surmise that the company you work with ARS doesn't use Amex cards because they ask for the SSN of the AU.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 25, 2016, 05:12:51 PM
You said occasionally you'll get mail addressed to a previous authorized user. Has that ever tripped you up with identity verification questions? The kind you get when opening a bank account online - typically three multiple choice questions. A couple times I've been asked who I've lived with.

I've had the situation you've described a lot (answering questions to verify your identity--sometimes I'm frantically googling to remember the name of the of a particular county I lived in, or trying to remember which mortgage company originated a certain mortgage on a rental property) but I've never had a "who you've lived with" question.

I have had a "Which of these addresses is associated with [family member's name]"?  I guess in theory that could happen?  It doesn't seem likely to me, but I honestly don't know.  It's not something I'd worry about, personally (and there's always other ways to authenticate yourself if you get them wrong, it's just a hassle sometimes where you'd have to call instead of doing it online, or whatever).

Quote
I surmise that the company you work with ARS doesn't use Amex cards because they ask for the SSN of the AU.

No, I think Amex just report differently.  Same reason they can't use business ones--they just don't help the AU's score in the same way.

Most of the ones they work with ask for the SSN of the AU--that is provided to you (I can't recall which of my cards ask for SSN and which don't, but I know most do, I think there's only one that just wants name/address/DOB).  And yes, you have enough info to steal the identity of the AU, but you do sign a contract about what you will do with that information.  Though if you're the type to try identity theft, you're probably the type to ignore a contract.  But also these aren't typically IDs you'd want to steal, given their poor credit they're trying to lift.  ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on July 25, 2016, 05:26:45 PM
You said occasionally you'll get mail addressed to a previous authorized user. Has that ever tripped you up with identity verification questions? The kind you get when opening a bank account online - typically three multiple choice questions. A couple times I've been asked who I've lived with.

I've had the situation you've described a lot (answering questions to verify your identity--sometimes I'm frantically googling to remember the name of the of a particular county I lived in, or trying to remember which mortgage company originated a certain mortgage on a rental property) but I've never had a "who you've lived with" question.

I have had a "Which of these addresses is associated with [family member's name]"?  I guess in theory that could happen?  It doesn't seem likely to me, but I honestly don't know.  It's not something I'd worry about, personally (and there's always other ways to authenticate yourself if you get them wrong, it's just a hassle sometimes where you'd have to call instead of doing it online, or whatever).

Yeah I agree. It's mostly just a hassle.  But there was at least one occasion where it was more than just a hassle though. I was planning on opening a bank account and funding the account with a cc (after checking datapoints on which cards wouldn't run it as a cash advance). I failed the online verification questions, and it told me to go in branch to open the account. I was able to do so without issue, but I wasn't able to fund with a cc as a purchase.

Quote
I surmise that the company you work with ARS doesn't use Amex cards because they ask for the SSN of the AU.

No, I think Amex just report differently.  Same reason they can't use business ones--they just don't help the AU's score in the same way.

Most of the ones they work with ask for the SSN of the AU--that is provided to you (I can't recall which of my cards ask for SSN and which don't, but I know most do, I think there's only one that just wants name/address/DOB).  And yes, you have enough info to steal the identity of the AU, but you do sign a contract about what you will do with that information.  Though if you're the type to try identity theft, you're probably the type to ignore a contract.  But also these aren't typically IDs you'd want to steal, given their poor credit they're trying to lift.  ;)

I doubt that. I added my mom as an AU once and it showed up on her credit report.

Business credit cards are completely different. Most banks don't report those to personal credit reports, only business credit reports.


But man that's kind of crazy that they give you the SSN of the AU. I mean I understand how it can be necesssary depending on the bank, but damn.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 25, 2016, 05:45:54 PM
So ARS all this information your giving about credit card companies accepted or #tradelines per card or your payment amount; Is this information relevant to the whole industry or are you just referring to how the service/company that you use does things?

If you are just talking about the company you use you said they don't use AMEX or business cards... Do you know if there is there any other specific cards or types of cards that they do not accept.... Haven't seen Capital One mentioned?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 25, 2016, 05:54:07 PM
I added my mom as an AU once and it showed up on her credit report.

Just checked--like I said, Amex does report differently, it reports it as a new line (i.e. without the full history of the account).  So it will show up on their account, like with your mom, it just won't help as much, so they don't use them.

Hope that helps explain it!  I wish they did use Amex, I'd have another half dozen lines or so to add!  :P

So ARS all this information your giving about credit card companies accepted or #tradelines per card or your payment amount; Is this information relevant to the whole industry or are you just referring to how the service/company that you use does things?

I'm trying to post general information about the selling of tradelines to make Mustachians aware of it.  Most of the information is relevant to the idea as a whole, and where it's specific to the company I use, I've tried to make note of that (e.g. several times I've said "it's dependent on the company you use, but the one I use...").

None of them accept business cards, from what I understand.  A few do Amex, I believe, but you get hardly any sales, if any, due to the reasons I stated above.  I couldn't find any good trade line companies doing Amex (for example, ones who don't use CPNs, as discussed earlier).

If you are just talking about the company you use you said they don't use AMEX or business cards... Do you know if there is there any other specific cards or types of cards that they do not accept.... Haven't seen Capital One mentioned?

It depends on the company.  Capital One works with the company I use--I have a Capital One card enrolled myself.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on July 25, 2016, 05:57:10 PM
I added my mom as an AU once and it showed up on her credit report.

Just checked--like I said, Amex does report differently, it reports it as a new line (i.e. without the full history of the account).  So it will show up on their account, like with your mom, it just won't help as much, so they don't use them.

Hope that helps explain it!  I wish they did use Amex, I'd have another half dozen lines or so to add!  :P

Oh hmm. Yeah I didn't ask her if it showed my full account history or a new line. That explains it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: flan on July 25, 2016, 06:12:03 PM
arebelspy: This is SUPER interesting! I haven't had enough time to absorb all that it entails to make an educated / morality call for myself, yet, but I absolutely admire your helpfulness as well as your bravery in sharing your experiences in the edgy practice of tradelines!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Migrator Soul on July 25, 2016, 06:37:31 PM
I have a few cards maturing soon, I think within a few months. I'll give it a shot.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: lexalex on July 26, 2016, 05:19:34 AM
this sounds interesting definitely!  would they have to be bank based cards?  e.g. would store or school sponsored cards work?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: mynewchoice on July 26, 2016, 07:03:48 AM
Obviously a 10 year old card with 30,000 credit line helps someone's score way more than a two years old card with a 10,000 line.  So people are more likely to buy it.  You get paid more for having a larger credit line, age doesn't change your payment amount, but it does make it more likely to sell out.

Emphasis added, as I wanted to clarify this based on feedback that I received from the same company ARS is using.  For accounts that are older than 15 years, they will provide a personalized quote for how much you can earn per tradeline.  In my case, I simply emailed them with the card, credit limit and age and they emailed me back with how much that card would earn.  For the record, I have not yet signed up as I am still discussing this with my wife (she is more conservative and has some concerns).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cyanne on July 26, 2016, 07:05:51 AM
following
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 26, 2016, 08:02:45 AM
Obviously a 10 year old card with 30,000 credit line helps someone's score way more than a two years old card with a 10,000 line.  So people are more likely to buy it.  You get paid more for having a larger credit line, age doesn't change your payment amount, but it does make it more likely to sell out.

Emphasis added, as I wanted to clarify this based on feedback that I received from the same company ARS is using.  For accounts that are older than 15 years, they will provide a personalized quote for how much you can earn per tradeline.  In my case, I simply emailed them with the card, credit limit and age and they emailed me back with how much that card would earn.  For the record, I have not yet signed up as I am still discussing this with my wife (she is more conservative and has some concerns).

care to divulge any of these details. i'm curious.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: mynewchoice on July 26, 2016, 08:34:17 AM
Obviously a 10 year old card with 30,000 credit line helps someone's score way more than a two years old card with a 10,000 line.  So people are more likely to buy it.  You get paid more for having a larger credit line, age doesn't change your payment amount, but it does make it more likely to sell out.

Emphasis added, as I wanted to clarify this based on feedback that I received from the same company ARS is using.  For accounts that are older than 15 years, they will provide a personalized quote for how much you can earn per tradeline.  In my case, I simply emailed them with the card, credit limit and age and they emailed me back with how much that card would earn.  For the record, I have not yet signed up as I am still discussing this with my wife (she is more conservative and has some concerns).

care to divulge any of these details. i'm curious.

For my situation, I have a Discover card that is currently at 14.5 years in age with a $20k limit so the standard offer would be $225 per AU.  While this card isn't quite at the 15+ year level, I asked and they offered this card at $300 per AU.  The other card I asked about was a Synchrony card that is at 23 years in age with a $10k limit so the standard offer would be $175 per AU, however due to the age they offered $262.50 per AU.

With these two cards, I could earn an extra $162.50 per AU due to the age of each card being at or above the 15 year level.

Hope that helps, but let me know if there are any other questions.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frugalorganic on July 26, 2016, 11:07:12 AM
I want to do this, but my issue is the fact that you have to provide your SSN for the W9 form, and bank account number to the company that you are working with in order to get paid.  I am hesitant due to the fact if they have my SSN, bank account number, and now the credit card names and limits that I have, what's to say this info doesn't fall into the wrong hands, and my identity gets stolen?  I haven't found anything negative about the company, but I still feel like I would be opening up myself to risk, and is it worth it...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DrF on July 26, 2016, 11:34:59 AM
When you add an authorized user, does the credit card company automatically send out a card for that person? Can you contact your CC company and stop it?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Spitfire on July 26, 2016, 01:19:03 PM
When you add an authorized user, does the credit card company automatically send out a card for that person? Can you contact your CC company and stop it?

The default will be (should be) to have the card sent to your address, so they won't get your card unless you authorize your bank to send it to them. You can just destroy it when you get it in the mail.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 26, 2016, 01:21:17 PM
When you add an authorized user, does the credit card company automatically send out a card for that person? Can you contact your CC company and stop it?

this has been answered already a few times in the thread. Including ARS's OP which was very thorough.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DrF on July 26, 2016, 01:59:56 PM
I just read an interesting article on piggybacking and FICO 8 credit score reporting here. (http://credit.about.com/od/creditreportscoring/a/fico-08.htm)

In the article it says "Authorized user accounts will continue to be included in FICO 8 credit scores, but the new model will make a distinction between legitimate authorized user accounts and those that were purchased for credit improvement purposes only."

From FICO's website, (http://www.fico.com/en/newsroom/fair-isaac-innovation-will-restore-authorized-user-accounts-to-calculation-of-fico-08-scores-07-31-2008) "The hallmarks of FICO scores have been quality and innovation, and this technology advance is a great example," said Lisa Nelson, vice president of Global Scoring for Fair Isaac. "This breakthrough resolves an industry problem that we know has perplexed lenders and concerned regulators. We have developed technology that will reduce any impact on the FICO 08 score from intentional tampering, while allowing the scores of spouses and other genuine authorized users to benefit from their shared credit experience. This kind of innovation is why Fair Isaac's analytic scientists are regarded as the best in the world."

Is this just PR? It seems like there would be many instances where the analytics would incorrectly mark a "legitimate" authorized user as illegitimate. If FICO really can and does mark illegitimate authorized user's credit reports, then the service the credit repairing agencies offer will be of less and less value as more large companies adopt the FICO 8 scoring system. (http://bucks.blogs.nytimes.com/2012/05/10/is-that-credit-score-a-fico-or-a-fico-8/?_r=0) But, Fannie Mae and Freddy Mac don't use FICO 8 and seem to be switching to a different model called VantageScore, (http://money.usnews.com/money/personal-finance/articles/2016-02-05/goodbye-fico-hello-vantagescore) which uses a 2 year history (http://www.housingwire.com/articles/35384-fannie-mae-lowers-mortgage-risk-with-new-credit-scoring-system) vs a current snapshot (FICO). I'm not sure what this would do to the applications of people purchasing credit repair through piggybacking.

The major implication and an argument against signing up your credit cards with a piggybacking company is this: If piggybacking is less and less beneficial to customers of credit repair companies, then how ethical is it for you to take money from an already disadvantaged person for a service that isn't helping them?

The real questions that need to be addressed are: How much is this helping an individual with damaged credit? How long will this service be beneficial based on changes to industry practice? Are customers being told the truth about how big or little an impact this service has on their credit score?

If you sign up your cards and get paid for a useless service that preys on the ill-informed, could you live with that?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: acroy on July 26, 2016, 02:44:08 PM
One word for this:
BADASSITY


thanks for sharing. Will do some research and jump on the crazy train.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dividendman on July 26, 2016, 02:55:20 PM
following
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 26, 2016, 03:27:38 PM
this sounds interesting definitely!  would they have to be bank based cards?  e.g. would store or school sponsored cards work?

Depends on who the issuer of the card is is (e.g. Chase, Barclay, Amex etc.) -- the "branding" on the card doesn't matter.  As long as it reports like a normal CC on one's credit report, it should work.

With these two cards, I could earn an extra $162.50 per AU due to the age of each card being at or above the 15 year level.

Really good to know, thanks!  I have some opened from 2002 and 2003, I may need to "renegotiate" here soon.  ;)

When you add an authorized user, does the credit card company automatically send out a card for that person? Can you contact your CC company and stop it?

Nope, the AU never receives a card, and has no way to request one.  If you get one issued, it will go to your address (you don't have to have one issued with some companies).

If you sign up your cards and get paid for a useless service that preys on the ill-informed, could you live with that?

This would quickly go away if it was no longer effective.  The company I use is very aggressive with their guarantees to authorized users--if an account doesn't post (even if you added them), they refund them.  I like this--I'd rather not get paid then them get screwed.  I'm sure some of the sketchy companies might take advantage, but the person's credit report must post them and see the  score improvement, or they get their money back, from the one I use.  So this is not a concern, for me personally.

The scoring model getting changed would be a bummer, but understandable (I think I'd even be for that change), so like I said, I'll take advantage of this while it exists, until (if) it goes away.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on July 26, 2016, 04:48:29 PM
I want to do this, but my issue is the fact that you have to provide your SSN for the W9 form, and bank account number to the company that you are working with in order to get paid.  I am hesitant due to the fact if they have my SSN, bank account number, and now the credit card names and limits that I have, what's to say this info doesn't fall into the wrong hands, and my identity gets stolen?  I haven't found anything negative about the company, but I still feel like I would be opening up myself to risk, and is it worth it...

One way to mitigate some of that risk would be to setup a separate bank account.  It's pretty easy to setup a Discover checking or one of the other online banks.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 27, 2016, 05:12:21 AM
FWIW, I checked on the tax question for those asking.

For the company I use, the income is in box 7, "nonemployee compensation" on the 1099 you are issued.  You likely will have to pay self-employment tax on this, so keep that in mind for any quarterly estimates you pay, or, of course, if you do a self/solo/SEP 401k or IRA (I'm not up on all the differences, so consult with your tax professional), this can go towards that.

And, of course, as brewer has noted, it's pretty much free money, so having to pay taxes on it, while a bummer, still is better than not having it--it will pay for its own taxes, and then the rest above that is profit.  But yes, taxes will cut into your gross (and $/hour)--I leave you to calculate that based on your own tax rate, if interested.

For people starting now, you'll get your first trade line sales in August, paid end of Sept, so won't need to worry about it too much until the 4th quarter anyways, if you do quarterly estimated payments.  Otherwise you can just settle up in April when you plug that 1099 into your tax return (or hand it to your accountant, as the case may be).

Just wanted to update with an answer to that, even if it wasn't great news.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 27, 2016, 05:39:52 AM
FWIW, I checked on the tax question for those asking.

For the company I use, the income is in box 7, "nonemployee compensation" on the 1099 you are issued.  You likely will have to pay self-employment tax on this, so keep that in mind for any quarterly estimates you pay, or, of course, if you do a self/solo/SEP 401k or IRA (I'm not up on all the differences, so consult with your tax professional), this can go towards that.

And, of course, as brewer has noted, it's pretty much free money, so having to pay taxes on it, while a bummer, still is better than not having it--it will pay for its own taxes, and then the rest above that is profit.  But yes, taxes will cut into your gross (and $/hour)--I leave you to calculate that based on your own tax rate, if interested.

For people starting now, you'll get your first trade line sales in August, paid end of Sept, so won't need to worry about it too much until the 4th quarter anyways, if you do quarterly estimated payments.  Otherwise you can just settle up in April when you plug that 1099 into your tax return (or hand it to your accountant, as the case may be).

Just wanted to update with an answer to that, even if it wasn't great news.  :)

you can file it as misc income to avoid the fee.  but there is a break even point if you're close to the SSA max in total compensation where funding a SEP IRA and paying the self employment tax wins.  since the SSA will drop off after 118500 in earned income for 1 individual.  this year since i'll probably only make a couple grand on this it will be filed as Misc income.

Also after extensive research n my other money making hobby the SEP IRA typically will come out ahead on MISC income such as this. if you already have work 401k's
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 27, 2016, 05:49:16 AM
Okay, cool, thanks!

I'm an idiot when it comes to taxes, so approximately 4% of that made sense to me.  I'm just going to hand the 1099 to my accountant (and use the extent of my knowledge of the fact that I'm overseas to ask if I can exclude it as foreign earned income..crossing my fingers?), and I don't want this to get dragged into an off topic debate of taxes/ways to optimize self-employment income/etc., but hopefully the above info from my post about how it's reported, and boarder's post about ways that might affect you will be enough for those of you who do your own taxes to figure out what you need.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on July 27, 2016, 11:21:02 AM
I've asked the contact at the tradeline place you recommended, ARS, whether there's a way to register the card such that payments go directly to a charity - specifically the charity I set up for Rohingya refugee kids, (you know all about it ARS)*.

If there's a way to do this, I could propose that potential donors sign up a card. $250 a month is a teacher's salary. Well, it's the salary for someone willing to work for so little. If I could get 10+ cards signed up, I could start paying proper wages that might attract highly skilled teachers to teach the Rohingya refugee kids. That'd be serious bang for the buck.

*FYI ARS: I'm providing the IRS with final info to get the 501c3 approval - it's looking good - should be granted within a month or so.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: rothnroll on July 27, 2016, 12:08:40 PM
what is a legit website to do this through?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 27, 2016, 12:18:33 PM
what is a legit website to do this through?

PM ARS
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 27, 2016, 02:26:55 PM
what is a legit website to do this through?

PM ARS

Yup!  Like I said in the OP:
Quote
Again, if you want a referral to the company I use, feel free to PM me, but I don't want this to turn into spam/shilling for certain companies--I imagine once this hits google, it will be on the radar of some of those companies, and I'd rather keep the spam out.

Keeping this thread about information about the idea itself would be ideal. :)

Full disclaimer: I'll probably ask you to mention I referred you.  You don't have to, but it would be nice. ;)  It won't change the amount you're paid, of course.  I don't think I've ever posted a referral or affiliate link on MMM, but decided to mention it to people when referring them to this, simply because it is more work PMing people with info to try and keep this thread focused, and there's no downside to using me as a referral--though, like I mentioned, you don't have to, totally optional. :)

I've asked the contact at the tradeline place you recommended, ARS, whether there's a way to register the card such that payments go directly to a charity - specifically the charity I set up for Rohingya refugee kids, (you know all about it ARS)*.

If there's a way to do this, I could propose that potential donors sign up a card. $250 a month is a teacher's salary. Well, it's the salary for someone willing to work for so little. If I could get 10+ cards signed up, I could start paying proper wages that might attract highly skilled teachers to teach the Rohingya refugee kids. That'd be serious bang for the buck.

*FYI ARS: I'm providing the IRS with final info to get the 501c3 approval - it's looking good - should be granted within a month or so.

Neat idea!  :D

They'd need the ability to have one person doing the adding, but a different entity (the 501c3) getting the payment.  That might open them up for potential tax dodging/fraud issues... but maybe not, just trying to speculate why it might not work--hopefully it will.

And you know I've been waiting for that approval!  ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Smokystache on July 27, 2016, 02:31:55 PM
I've thought about setting up each card to pay a recurring amount to a specific charity to make sure the card is being used and will report to the bureaus. No reason that you couldn't support someone that way. Obviously this doesn't get rid of paying taxes on the proceeds, but for me this helps me feel like I'm contributing to something other than my bottom line.

Don't get me wrong, I'm keeping most of it =). I want some compensation for the (hopefully minimal) risk.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 29, 2016, 08:01:05 AM
so if you do file as a business would the annual fees be write offs?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 29, 2016, 11:04:34 AM
so if you do file as a business would the annual fees be write offs?

I'm bad at taxes, so check with your accountant, but yes, that would be my understanding, costs related to this "business" (as the IRS sees it) of selling trade lines could be deducted from the income received as expenses.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on July 29, 2016, 12:13:43 PM
so if you do file as a business would the annual fees be write offs?

I'm bad at taxes, so check with your accountant, but yes, that would be my understanding, costs related to this "business" (as the IRS sees it) of selling trade lines could be deducted from the income received as expenses.

Yup, the annual fees would go on Schedule C as business expenses.  But if you choose that direction, you would have to pay SE taxes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 29, 2016, 12:59:40 PM
so if you do file as a business would the annual fees be write offs?

I'm bad at taxes, so check with your accountant, but yes, that would be my understanding, costs related to this "business" (as the IRS sees it) of selling trade lines could be deducted from the income received as expenses.

Yup, the annual fees would go on Schedule C as business expenses.  But if you choose that direction, you would have to pay SE taxes.

correct and if i go that way it would only be b/c it made sense in total return dollar amount (i'm pushing the SSA limit at my current job) so if i can shelter 20% of my earnings from 31% tax into a SEP IRA it makes more and more sense the closer i get to 118500
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: hoping2retire35 on July 29, 2016, 01:51:19 PM
AWESOME!

Can't wait, I have got a discover card waiting in the wings for this. Have to check but a few other cards are around the 10k limit.
As to the morality: usury is pretty immoral so anytime I can help someone out from paying more of it the better.
As to the legality: this is glitch that only takes a simply agreement among credit bureaus to fix, its a hack and can stop at anytime; might as well enjoy the ride as long as it last.

EDIT; even forbes plainly says to get added as an AU to boost your credit score, granted it says ask family or friends, but for legality purposes I don't think it makes any difference to do this in the manner discussed.
http://www.forbes.com/sites/moneybuilder/2014/05/02/11-ways-to-raise-your-credit-score-fast/#1eb9f4017162

I read several comments related but not sure if it was asked/answered just this way.
If my CC is linked to my main back account (the one it would be deposited to) would they notice the transaction and shut down my card? Like a discover credit card and a discover bank account (where the DD is being deposited).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on July 29, 2016, 02:47:41 PM
AWESOME!

Can't wait, I have got a discover card waiting in the wings for this. Have to check but a few other cards are around the 10k limit.
As to the morality: usury is pretty immoral so anytime I can help someone out from paying more of it the better.
As to the legality: this is glitch that only takes a simply agreement among credit bureaus to fix, its a hack and can stop at anytime; might as well enjoy the ride as long as it last.

EDIT; even forbes plainly says to get added as an AU to boost your credit score, granted it says ask family or friends, but for legality purposes I don't think it makes any difference to do this in the manner discussed.
http://www.forbes.com/sites/moneybuilder/2014/05/02/11-ways-to-raise-your-credit-score-fast/#1eb9f4017162

I read several comments related but not sure if it was asked/answered just this way.
If my CC is linked to my main back account (the one it would be deposited to) would they notice the transaction and shut down my card? Like a discover credit card and a discover bank account (where the DD is being deposited).

i dont think so ... discover is one of the better cards in this system too
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 29, 2016, 02:52:29 PM
If my CC is linked to my main back account (the one it would be deposited to) would they notice the transaction and shut down my card? Like a discover credit card and a discover bank account (where the DD is being deposited).

I guess theoretically that could happen, if they knew the name of the company making the deposit into your account, checked the activity on the AU, etc.  I think it's extremely unlikely, and AFAIK there are no cases of it happening, but opening up a free "throwaway" bank account to deposit the money into it's a terrible idea if you want to be extra cautious.

FYI, I'm not bothering to do so (which probably tells you what I think since I'm putting my money where my mouth is, using multiple Bank of America cards and depositing into a B of A checking account), but can understand why one might.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on July 29, 2016, 06:42:54 PM
Any guidance on requesting repeat credit limit increases? 6 months in between?

I have a 20 year old Discover, only had a $3,600 limit. Called in and they boosted it to $6,600. Obviously, I would like it to be over $10,000. However, I don't want to trip any red flags.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on July 29, 2016, 07:04:47 PM
Any guidance on requesting repeat credit limit increases? 6 months in between?

I have a 20 year old Discover, only had a $3,600 limit. Called in and they boosted it to $6,600. Obviously, I would like it to be over $10,000. However, I don't want to trip any red flags.
Best way is to call and ask. For reason, just say I wanted to make some bigger purchases (What else would a consuma sucka use a CC for?)
In some ways, they might be limiting your credit limit based on your credit total, and there is nothing they can do because the formula is spitting out a denied.

To be perfectly honest, I don't know why they would keep increasing the limit when utilization is low. But apparently they give out raises without hassle every 6 months or so, so maybe just wait for it to ripen.

Another great tip is that if you have multiple CC, you can call in and transfer credit limit from one CC in to another. Since the net change is zero, this won't get denied, although I think they did mention it would be a hard pull. In this way, you can get one card limit higher, and let the other age.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on July 29, 2016, 07:28:06 PM
It varies by company.  Citi, I believe, does a CLI every 6 months without a credit check.  You can do it completely online.  Discover seems to allow it more frequently and will tell you if a hard pull is needed.  I am sure you could google your different cards to find out.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on July 29, 2016, 08:51:55 PM
I did do some initial googling, but it seems most everything credit card related gives a lot of garbage/overly simplistic/I'm just making clickbait type results.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 30, 2016, 01:59:20 AM
Like it was mentioned above, generally every 6 months, but sometimes you can go more frequently.  I'd start using the card a bit--even just a transaction or two each month--and paying it off.  If you've had it sitting in a drawer, not having any activity, they may be reluctant to suddenly jump up the available credit a ton.  A lot of times it's all automated, and that can be a factor (recent payment history on the individual card).    So use it a bit, then try to increase it again.  Chase is nice because of being able to easily move credit around between cards, but IDK which other companies do that.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on July 30, 2016, 07:30:35 AM
It's been getting some use - the 5% rotating categories (Last quarter: Restaurants when my employer is paying during travel. This quarter: Amazon) - and they did bump it over 80% when I called. Online, it seems that people are getting recommended to request a 10-25% bump.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on July 30, 2016, 09:14:55 AM
ARS, thoughts on starting a "referral train" for this? I guess the setup time might be a limiting factor. I too signed up after hearing about it at Camp Mustache, and I have 7 cards in the program now. I've added 4 AUs so far, 2 in June and 2 in July.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: VladTheImpaler on July 30, 2016, 11:32:04 AM
Posting to follow.

Has A Rebel Spy received any payments yet?
Just curious.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on July 30, 2016, 01:15:29 PM
IDK which other companies do that.

All of the main ones (Chase, Citi, Discover, Capital One, etc.) reallocate.

To the general question, this thread (and forum) may be helpful:

https://www.fatwallet.com/forums/finance/634740/
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on July 30, 2016, 01:28:41 PM
IDK which other companies do that.

All of the main ones (Chase, Citi, Discover, Capital One, etc.) reallocate.

To the general question, this thread (and forum) may be helpful:

https://www.fatwallet.com/forums/finance/634740/

Yeah but not all of them let you reallocate credit limits without a soft hard pull.

http://www.doctorofcredit.com/rules-for-reallocating-your-credit-limit-with-each-credit-card-issuer/

Edited: mistake
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 30, 2016, 04:16:40 PM
It's been getting some use - the 5% rotating categories (Last quarter: Restaurants when my employer is paying during travel. This quarter: Amazon) - and they did bump it over 80% when I called. Online, it seems that people are getting recommended to request a 10-25% bump.

Cool, the usage should help.  I think smaller bumps are good when you already have a large limit and are trying to keep "pushing" it--when it's a small limit, you can do bigger ones.  IIRC, my wife bumped her Discover from like 4k to 10k in June to use this. 

ARS, thoughts on starting a "referral train" for this? I guess the setup time might be a limiting factor.

I thought about that, but didn't for a few reasons:
1) There's no simple "referral" link people could post--you have to give personal information (first/last name and email).  Not a huge deal, but not something you generally want to post online (especially on a forum focused on money, in a thread around specific credit card use that violates TOS).  So implementation (logistics) becomes more difficult because of this.
2) There's a lot of bad actors in this area--shady companies, people only trying to earn money on referrals, etc.  With a "Ting" or "Uber" referral, the product is a known quantity from a major company. With a recommendation like this, it's not, and so having them come from random people adds a risk element that worries me.  That adds another level of implementation/logistics.
3) "Policing" it--the referral threads are already a hassle moderating. People saying their code didn't get used, people coming into the forum JUST to post their referral, scroll back a few pages in this Ting referral thread (http://forum.mrmoneymustache.com/welcome-to-the-forum/official-ting-referral-thread/500/) to see how many users have just one post (i.e. the one with their referral code). That adds a lot more work/logistics.

For now, mainly due to the fact that there's so much potential for bad information, and I don't want Mustachians getting into something unwittingly, I decided against trying to implement something like that, but I'll keep thinking about how it could be implemented (safely, especially).

All in all, the referral fees aren't that much--they're nice, obviously, but I'm still (after referring a bunch of Mustachians) expecting to make far more (like multiple times more) selling my own trade lines.  And, of course, I'm happy to provide the information to anyone--there's no obligation to 'mention" me as a referral, if you want to just sign up, that's cool.  But I'd rather have the information a bit more "secure," if that makes sense.

Anyone feel free to PM me about this to discuss, I'm open to ideas.  :)

Quote
I too signed up after hearing about it at Camp Mustache, and I have 7 cards in the program now. I've added 4 AUs so far, 2 in June and 2 in July.

Glad to hear you signed up, I was wondering about that after how exited we were after.  I literally started my research within an hour or two of getting home from CMIII.  :D

A lot of times people just don't follow through, though, which is why I was wondering... I think maybe 10-15% of people who have PM'd me for details about the company to use actually signed up?  And that's of already pre-interested Mustachians.  I'm sure a lot are just gathering information, and then decide it's not for them, or forget, or get lazy, or whatever.

Actually, that adds another huge logistical problem to the above list for a referral chain--people who get a "referral" but then don't sign up.  How do you police that?  Without a reliable way to track it it's quite difficult (and do you, what, wait for someone to join to have the next person refer? You limit the referral chain to only those who have signed up themselves, but what if a bunch of people want the info at once, before the previous batch is done signing up?). Referral links are easier, but this isn't really set up for that.  So logistical and potential shadiness has detered me on this for now, but again, open to PMs and ideas about it.  :)

Posting to follow.

Has A Rebel Spy received any payments yet?
Just curious.

From earlier in the thread:
Not yet; I should in about two weeks.  I heard about it at a breakout session at Camp Mustache III over Memorial Day.  I signed up in early June, got my first tradeline sales in mid-June and the second half of June (we got 8 tradeline sales in that half month, have 7 so far this month, and probably more coming in the next two weeks from cards closing towards the end of the month).   So I should get payment for those June trade lines here at the end of July.  The last pay date was June 30 for May orders, but we hadn't started at that point.

The company I use has been around for a few years though; the Mustachian who led the breakout session has been using them for sometime between a year and a year and 1/2, IIRC, and I chatted with other people who have been using them for awhile as well.  I have no doubt I'll get payment here in two weeks, but if you're worried about that, wait a few weeks and ask me again August 1, and I'll report.  ;)

I did just get an email (as did the wife) with a breakdown of my commission for June, paystub, and it says it takes a few days and should be in my bank account Aug 2-4.  I'll report back in a few days with details of exact amount, # of sales, etc. 

Spoiler alert: I'm in the 20k annual range posted in the thread title, and that's with only a half month for June, and with the tradelines at 2--I did just raise some to 5 (others stayed at 2, since that's the most you'd want to use to help avoid closure of the account).  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 30, 2016, 04:17:02 PM
IDK which other companies do that.

All of the main ones (Chase, Citi, Discover, Capital One, etc.) reallocate.

Oh wow!  This is amazing..for some reason I was under the impression that only Chase reallocates.

I've got to make some calls!

Also maybe open some new cards!  When I open a new card, I immediately get a credit line in the 15k range.. but somehow some cards don't want to bump me from more than like 5k to 8k.  Sign up for a new 15k card, move all but 1k of the limit over to the old card, boom, got a 20k+ card.

I may be signing up for some new cards--even without signup bonuses!  Never thought I'd do that again.  But as long as they have no annual fee, and give me a 10k+ credit limit (which they always do with my travel hacking cards), then their ability to transform an old 10k+ card to a 20k+ card (or even 30, if each are 15k+) is worth as much as a signing bonus.

Raising a card from 10k to 20k changes the commissions from $225 per spot per cycle to $262.50 per spot per cycle.  An extra $37.5 x 2-5 spots per two months x 6 months = $450 - $1,125 depending on how many spots you sell.  Not too shabby at all.

Signing up for a new card just to shift the credit to an old one is pretty revolutionary, to me.  Maybe I'm just way behind the rest of you.  :P

Plus I have a few <2 year ones I'm waiting to age that I can use the credit in the meantime (though, obviously, risking getting that older card shut down would leave me with little credit on that card, but then I suppose you'd just ask for a limit increase, lol.)

Would that raise any flags, moving a bunch of credit from a card you just signed up for? 

Yeah but not all of them let you reallocate credit limits without a soft pull.

http://www.doctorofcredit.com/rules-for-reallocating-your-credit-limit-with-each-credit-card-issuer/

Eh, soft pulls don't bother me.  Good link, thanks!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on July 30, 2016, 07:05:16 PM
RE: referrals - you are right, I hadn't though much about it when I posted my note, you make a lot of good points. I have yet to refer anyone who's signed up with cards that get me a referral bonus.

I am impressed with the number of cards you must have that qualify to be in the $20k/year range with just 2 AU slots per card! I was thinking I might mine at 3-4 max for each card, as a safety measure.

I am a little disappointed in the lack of "orders" I've received so far, but as they said, and you repeated in the original post, this is the "slow" season. Not all of my cards are all that desirable either, but time plus a bit of diligence on the credit limits, and I might start to see an increase.

P.S. of course I'll follow through on such amazingly unbelievably easy money ;)!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Padonak on July 30, 2016, 07:25:57 PM
Will this work for a U.S. citizen who lives overseas and has a US mailing address? I am currently in the US but may move overseas for awhile starting from next year. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 30, 2016, 07:27:33 PM
Not all of my cards are all that desirable either, but time plus a bit of diligence on the credit limits, and I might start to see an increase.

Yeah, we definitely see a difference in cards that are just over two years versus 10+ years, and even in ones with a 11k limit versus 18k limit.

So on a lot of them, it'll just be a waiting game (and getting what we can, for now) for them to age, and requesting credit bumps regularly.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 30, 2016, 07:29:04 PM
Will this work for a U.S. citizen who lives overseas and has a US mailing address? I am currently in the US but may move overseas for awhile starting from next year.

Yup!  I know it will for a fact, as I live overseas, and have a US mailing address.  ;)

TravelingMailBox.com is amazing, btw--receives and scans in all your mail.. you have a digital "inbox" for your real life mail.  I'm probably going to keep paying for it even if we go back to the US, just for the convenience and ability to "go paperless."
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Padonak on July 30, 2016, 08:30:05 PM
Will this work for a U.S. citizen who lives overseas and has a US mailing address? I am currently in the US but may move overseas for awhile starting from next year.

Yup!  I know it will for a fact, as I live overseas, and have a US mailing address.  ;)

TravelingMailBox.com is amazing, btw--receives and scans in all your mail.. you have a digital "inbox" for your real life mail.  I'm probably going to keep paying for it even if we go back to the US, just for the convenience and ability to "go paperless."

Excellent! Thanks.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on July 31, 2016, 01:07:59 AM
Yeah but not all of them let you reallocate credit limits without a soft pull.

http://www.doctorofcredit.com/rules-for-reallocating-your-credit-limit-with-each-credit-card-issuer/

Eh, soft pulls don't bother me.  Good link, thanks!

Er I meant hard pull but I'm sure you got that from the link.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on July 31, 2016, 07:22:44 AM
A couple of items:

1) The trick of opening a new card with the bank and transferring the credit line hadn't occured to me. That's pretty awesome. I was thinking of opening a Hilton travel card for the signup bonus. I could then move the credit line to another Citi card before closing it. Sweet.

2) I am one of those who emailed arebelspy for information, and used him as a referral. I filled out the paperwork yesterday and am waiting for it to clear. I will probably start with 1, maybe 2 cards.

3) I am definitely more comfortable with churning for signup bonuses than the tradelines.

4) UMB will be a real PITA for tradelines. You have to actually fill out a form and mail or fax it in to add an AU. That's a 19+ year old card....

5) I am happy to be a referrer for Mustachians with reasonable forum activity, via PM. I presume arebelspy will get a 'downline' referral bonus as well.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: monarda on July 31, 2016, 09:38:06 AM
Thanks for the info! No idea that this existed!
I've got a <2 year old CapitalOne card that I will consider using when the time comes.
All my other cards are with my local credit union. 

Swore off the big banks many years ago- got pissed and closed several Bank of America and Chase cards with really high credit limits.  Can't undo. Oh well.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on July 31, 2016, 10:56:41 AM
Thanks for the info! No idea that this existed!
I've got a <2 year old CapitalOne card that I will consider using when the time comes.
All my other cards are with my local credit union. 

Swore off the big banks many years ago- got pissed and closed several Bank of America and Chase cards with really high credit limits.  Can't undo. Oh well.

Are you sure you can't undo? Have you called and asked?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on July 31, 2016, 11:37:45 AM
I also used Rebs as a referral, and happy to do the same for fellow Mustachians.  Feel free to PM me as well. 

I've signed up two cards thus far, with a third becoming old enough shortly.  I've racked up quite a few cards chasing after travel and cash rewards so i've got quite a bit to work with (just kicking myself at the many cards I've cancelled over the years!). I've been calling through my cards trying to get credit increases, etc. and have gotten various responses:

1) I had an old Bank of America card that I hadn't used in about 4 years but with a relatively small line of credit.  I called and they jumped it up to $10,000 with almost no questions. 

2) Different story with Capital One and Discover.  I have some older cards with them that I haven't used in a few years and the most I could get was about $500 credit increases for both.  I tried requesting online and over the phone, and the result was the same.  So i'm going to try to put some more activity on these cards and try again in a few months. 

3) I had multiple lines of credit open with Chase, but all under $10K.  It was super easy to call them and consolidate the credit lines on all of the 'newer' cards, close those and then move the credit lines to my older card.  This might ding my credit a few points but now I've got 1 older card with a huge line of credit which will hopefully sell more tradelines. 

I've only had my tradelines up for a few days so haven't seen any order come through yet, but i'll update folks once I move through the process. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on July 31, 2016, 11:44:55 AM
Oh, and one other note on Chase.  While I've had cards open with other banks that have literally had 0 activity for a couple of years or longer (but they are my old lines of credit that i want to keep open) Chase is the only bank i've run into so far that will actually close down the account.  I found this out as I was talking with customer service.  Due to inactivity one of my cards was 'scheduled to be closed' and there was apparently nothing I could do.  They told me that Chase routinely will close cards after 18 months of inactivity. 

So, on the Chase cards I want to stay open i'll be sure to put some minimal amount of activity on them moving forward. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: carloco on July 31, 2016, 12:00:34 PM
I wish I had kept old cards opened now.   I only have one that's more than 2 years old.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on July 31, 2016, 12:36:13 PM
Just a note to anyone trying to reallocate credit by opening new cards and immediately transferring... Most companies require both cards to be open for 6 months before credit can be transferred around. Maybe calling in can get you around this rule.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on July 31, 2016, 01:26:11 PM
Oh, and one other note on Chase.  While I've had cards open with other banks that have literally had 0 activity for a couple of years or longer (but they are my old lines of credit that i want to keep open) Chase is the only bank i've run into so far that will actually close down the account.  I found this out as I was talking with customer service.  Due to inactivity one of my cards was 'scheduled to be closed' and there was apparently nothing I could do.  They told me that Chase routinely will close cards after 18 months of inactivity. 

So, on the Chase cards I want to stay open i'll be sure to put some minimal amount of activity on them moving forward.

This happened to me with Citi recently.  And it was my oldest card.  So probably a good idea to put a small charge on all of your cards every 6 months or so.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 31, 2016, 03:10:02 PM
1) The trick of opening a new card with the bank and transferring the credit line hadn't occured to me. That's pretty awesome. I was thinking of opening a Hilton travel card for the signup bonus. I could then move the credit line to another Citi card before closing it. Sweet.

Or just reduce the amount down to like $500 and keep it open (so it eventually ages and you can use it..and can also ask for a credit bump on it after awhile, and to not annoy them from closing it quickly).

I just got a Hilton card but it was with Amex.  Citi has a Hilton card?

Quote
4) UMB will be a real PITA for tradelines. You have to actually fill out a form and mail or fax it in to add an AU. That's a 19+ year old card....'

Ew, that is a hassle.  All of mine add online.  And I was happy when I found Discover you can remove the AU online (the others you have to call).  Still, if you calculate the time/hr on it, especially for such an old card (which you can negotiate your rate on with them, as per up thread), probably worth the hassle of filling out a form, scanning it, and paying a dollar or two to an online service to fax it.

Quote
I presume arebelspy will get a 'downline' referral bonus as well.

There is no downline referral, it's not a pyramid scheme.  ;)  I'd get referral fees only for people who actually use me as a referral.  But that's fine, as I said up thread:
Quote
All in all, the referral fees aren't that much--they're nice, obviously, but I'm still (after referring a bunch of Mustachians) expecting to make far more (like multiple times more) selling my own trade lines.  And, of course, I'm happy to provide the information to anyone--there's no obligation to 'mention" me as a referral, if you want to just sign up, that's cool.

I am thankful for people willing to use it as a thank you for typing this up, researching and vetting a good company, etc.--first time I've gotten paid for something related to sharing about something on the forums, as I've always eschewed affiliate and referral links before.  I'm hoping it'll eventually add up.  :) 

Thanks for the info! No idea that this existed!
I've got a <2 year old CapitalOne card that I will consider using when the time comes.
All my other cards are with my local credit union. 

Swore off the big banks many years ago- got pissed and closed several Bank of America and Chase cards with really high credit limits.  Can't undo. Oh well.

Are you sure you can't undo? Have you called and asked?

+1.  Sometimes they'll let you fill out a form (giving the same info as if you're applying for a card--e.g. income, amount of mortgage/rent, etc., since they want to verify you're still credit worthy) and reopen an old card, keeping its original opening date, payment history, etc.  Some CC companies make it so it has to be within six months of closing, others don't have that policy.  Doesn't hurt to call and check.

Just a note to anyone trying to reallocate credit by opening new cards and immediately transferring... Most companies require both cards to be open for 6 months before credit can be transferred around. Maybe calling in can get you around this rule.

Really good to know, thanks!

Chase is the only bank i've run into so far that will actually close down the account.

This happened to me with Citi recently.  And it was my oldest card.  So probably a good idea to put a small charge on all of your cards every 6 months or so.
[/quote]

I had an Associated Bank card close recently, but this was after almost 7 years of no activity.  So other companies will do it, but maybe aren't as strict with their policies.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on July 31, 2016, 03:29:08 PM
I just got a Hilton card but it was with Amex.  Citi has a Hilton card?

Yes. Hilton is interesting like that.
https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=hilton-hhonors-visa-signature-card (https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=hilton-hhonors-visa-signature-card)

Currently the bonus is 75k points for $2k spend. This signup bonus comes and goes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 31, 2016, 03:43:55 PM
I just got a Hilton card but it was with Amex.  Citi has a Hilton card?

Yes. Hilton is interesting like that.
https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=hilton-hhonors-visa-signature-card (https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=hilton-hhonors-visa-signature-card)

Currently the bonus is 75k points for $2k spend. This signup bonus comes and goes.

Huh, cool.

EDIT: I asked a few more questions, then edited them out, cause we're getting off topic.  I'll take my research elsewhere. Thanks for the heads up!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on July 31, 2016, 07:32:58 PM

Quote
4) UMB will be a real PITA for tradelines. You have to actually fill out a form and mail or fax it in to add an AU. That's a 19+ year old card....'

Ew, that is a hassle.  All of mine add online.  And I was happy when I found Discover you can remove the AU online (the others you have to call).  Still, if you calculate the time/hr on it, especially for such an old card (which you can negotiate your rate on with them, as per up thread), probably worth the hassle of filling out a form, scanning it, and paying a dollar or two to an online service to fax it.

I requested a credit line increase anyway, it's currently just $9k. I didn't keep up very well with old cards, so I haven't been getting increases. I had a fair amount of usage the past few months, so they should bump it up some. I requested $20,000 before I read the fine print on the tradeline contract.

The normal bump in tradeline fee is at $20,001 - not $20,000 flat. Should have asked for a dollar more ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 31, 2016, 08:42:01 PM
The normal bump in tradeline fee is at $20,001 - not $20,000 flat. Should have asked for a dollar more ;)

Good to know!  I read all the fine print, but didn't remember that (probably because none of mine were right at the edge).  You can probably email and ask for an exception, if you do get your request to get bumped to exactly $20k granted.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: sun and sand on July 31, 2016, 10:58:58 PM
Can I do this in Canada with my cards?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on July 31, 2016, 11:06:54 PM
Can I do this in Canada with my cards?

From earlier in the thread:
Does anyone know if this is an option for Canadians living in Canada?

I have no idea.  Probably depends on how your credit scores work, and how your credit cards report.

I know for the companies I've looked into, it needs to be a card that reports to our credit reporting bureau (Equifax, TransUnion, Experian).

There may be separate trade line companies specializing in Canada ones, if your system works the same (with AUs).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Zap on August 01, 2016, 02:02:58 PM


I just received an email from the company that arebelspy is using stating that they are having issues with Bank of America cards posting correctly, therefore they are not getting many requests for those tradelines.

Fyi, in case you were considering using a BoA card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on August 01, 2016, 02:16:36 PM
Too many responses to quote properly:

The re-allocating credit thing seems to be working pretty well for us. We tend to have old cards with low limits, and new cards with high limits from churning. So we transfer credit limits from the newer cards to the older ones.

Someone asked about increasing credit limit on Discover. My experience went something like his: the automated online system didn't raise the limit to the level I wanted, so I cancelled. I called and attempted to have them increase it over the phone. The first phone rep offered me the same increase as the online system. I said I needed a higher limit for an upcoming home renovation and asked if there was anything she could do. She transferred me to the department that does credit increases specifically. I repeated my request, at this point she warned me there would be a hard pull if I wanted her to check (suppose first phone rep and online system base on different information), I consented. She offered me a bigger increase than first rep, but not how much I wanted. I asked again if she could do anything to increase further, she said it would take further investigation by some other team and more time. I said go ahead. Never heard back, but in a few days my statement closed and it had the new higher limit I wanted.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on August 01, 2016, 02:28:58 PM
I wish I had kept old cards opened now.   I only have one that's more than 2 years old.
Right? I remember my first days in college, I had opened a Citi CC card for a cool free t-shirt!
My Mom got super mad when she found out and it was closed within a few weeks, no charges...
Hmm.. maybe I need to ask if we can reopen that card.. :D
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 01, 2016, 08:28:19 PM
Ooh, great point.  If your down payment is coming from the same account that you have these payments deposited into, they certainly might (and VERY likely will) ask where those deposits came from (a post-9/11 banking regulation relating to potential money laundering for terrorism, I believe).

Basically they'll want to "source" the funds of the down payment.

I'd use a different account for those deposits as your down payment account, and just provide them with the statements for the account the down payment is coming from (and make sure to have that money sitting in there for, IIRC, 3 months--talk with your mortgage broker on the regs on this one).

Good catch, Rural!

I know this was a few posts back, but I am curious why it'd be "bad" to have this income showing in an account when buying a house? It's not illegal, and you can explain that it's side income, wouldn't additional legitimate income make the bank *more* likely to want to give you a loan?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Padonak on August 01, 2016, 09:41:33 PM
arebelspy,

Thanks a lot for sharing all the information here and giving the name of the company via pm.

I am prepping my credit cards to apply.

So far, I found 3 old cards I can use. Unfortunately, had a problem with Discover, otherwise I would have 4 cards. The credit limit I had with Discover was about 5K. Tried to raise it to over 10K, but they didn't even after doing a hard pull on my credit report. Right now, I have a limit of 6+K and will try to call again in about a month, maybe will spend some money on this card before that as well.

Also tried to re-open a couple of cards which were closed for inactivity by one of the issuers, but no luck.

Anyway, 3 cards are better than nothing. All of them have 10k+ credit limits (2 have 20K+). I'll try to raise the limit on the 3rd one to 20k+ too.

One question I have: if I have a card with an annual fee and downgrade it to a free card instead of closing it, will i still be able to use it as an old card or will it register as a brand new one? The issuers are Citi and Chase if that matters.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 01, 2016, 09:50:30 PM
I just received an email from the company that arebelspy is using stating that they are having issues with Bank of America cards posting correctly, therefore they are not getting many requests for those tradelines.

Yup, unfortunately B of A is not reporting correctly right now (only to 1 of the 3 bureaus).  You can enroll the cards anyways in case it clears up.  I'm crossing my fingers, as between the wife and I we have 3 B of A cards.  I'll update on this, and add more details, soon.

The re-allocating credit thing seems to be working pretty well for us. We tend to have old cards with low limits, and new cards with high limits from churning. So we transfer credit limits from the newer cards to the older ones.

Ditto!  Just did this two days ago after the above tip, and boosted 3 different payments from 225 to 262.5 (x2) and 300.  Will add up to an extra few thousand over the year, which is pretty sweet.

Quote
Someone asked about increasing credit limit on Discover. My experience went something like his: the automated online system didn't raise the limit to the level I wanted, so I cancelled. I called and attempted to have them increase it over the phone. The first phone rep offered me the same increase as the online system. I said I needed a higher limit for an upcoming home renovation and asked if there was anything she could do. She transferred me to the department that does credit increases specifically. I repeated my request, at this point she warned me there would be a hard pull if I wanted her to check (suppose first phone rep and online system base on different information), I consented. She offered me a bigger increase than first rep, but not how much I wanted. I asked again if she could do anything to increase further, she said it would take further investigation by some other team and more time. I said go ahead. Never heard back, but in a few days my statement closed and it had the new higher limit I wanted.

That's really weird, but good to know.  I didn't realize you didn't "have" to take whatever they'll give you, but can get transferred and ask for more.  That's pretty sweet.

Ooh, great point.  If your down payment is coming from the same account that you have these payments deposited into, they certainly might (and VERY likely will) ask where those deposits came from (a post-9/11 banking regulation relating to potential money laundering for terrorism, I believe).

Basically they'll want to "source" the funds of the down payment.

I'd use a different account for those deposits as your down payment account, and just provide them with the statements for the account the down payment is coming from (and make sure to have that money sitting in there for, IIRC, 3 months--talk with your mortgage broker on the regs on this one).

Good catch, Rural!

I know this was a few posts back, but I am curious why it'd be "bad" to have this income showing in an account when buying a house? It's not illegal, and you can explain that it's side income, wouldn't additional legitimate income make the bank *more* likely to want to give you a loan?

Essentially it's because underwriters are super hard to please, so keeping everything neat and clean for them is better.  They don't like things outside their normal box, so trying to explain this income, especially if it hasn't been claimed on previous taxes, is a hassle.  If you can't qualify without this income, you shouldn't be buying that property (as this isn't stable income to be counted on indefinitely), and if you can, do that.  Adding this complication will require extra letters of explanation to be written, at the very least.  I'd definitely, if you're going to be applying for a house, be having this income go in a different account than your W2 income and down payment is in.

One question I have: if I have a card with an annual fee and downgrade it to a free card instead of closing it, will i still be able to use it as an old card or will it register as a brand new one? The issuers are Citi and Chase if that matters.

That'll still work, it should keep its original opening date and payment history.  Confirm this with them when you do it, but that's how it has always worked before, to the best of my knowledge.

I'd definitely "downgrade" any card you can that has a free version, to avoid annual fees (on two of my cards though, both Barclays--an American Airlines that was a converted US Airways card, and a Arrival Plus card, they told me there was no downgradable card, or I wasn't eligible, so I paid the $89 fees and kept them, to enroll them in this).  But if you can, and you check with them that original opening date and credit history is intact (which it should be), definitely go for that.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on August 01, 2016, 10:50:55 PM
I just received an email from the company that arebelspy is using stating that they are having issues with Bank of America cards posting correctly, therefore they are not getting many requests for those tradelines.
Yup, unfortunately B of A is not reporting correctly right now (only to 1 of the 3 bureaus).  You can enroll the cards anyways in case it clears up.  I'm crossing my fingers, as between the wife and I we have 3 B of A cards.  I'll update on this, and add more details, soon.

FYI, i was told the same thing about BofA, although my first tradeline order came through today and it was for my BofA card.  So maybe its been cleared up...?

Also, when I emailed them a question today, I got an automated email response saying that due to a "high volume of emails from investors" they would be slower than usual to respond.  Sounds like the word is spreading. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on August 01, 2016, 11:10:02 PM
No! I hope it doesn't spread too much and increase the supply without an increase in the demand...

I'm about to ask for some CLIs and reallocate some credit and then signup using ARS's referral. It sucks to have to do all of this after always lowering credit limits and closing cards from churning to keep getting new cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 01, 2016, 11:30:01 PM
FYI, i was told the same thing about BofA, although my first tradeline order came through today and it was for my BofA card.  So maybe its been cleared up...?

They're still taking orders for them, because it's up in the air whether or not they'll work. They have until this past month, so we'll see if they revert back to working going forward.  Like I said, the wife and I have 3 B of A cards between us, so I'm really hoping they will.  :)

(And again, will add a bit more detail on this when I post my paycheck details from June, as I did have B of A orders in there, but waiting for the $$ to hit my account, got the pay stub and was told payment would arrive between Aug 2 and 4, so should be any day now.)

Quote
Also, when I emailed them a question today, I got an automated email response saying that due to a "high volume of emails from investors" they would be slower than usual to respond.  Sounds like the word is spreading.

No! I hope it doesn't spread too much and increase the supply without an increase in the demand...

I think this is temporary, but yes, this is another "risk"--that it becomes very popular and your trade line sales decline--e.g. you don't sell as many as you would have otherwise.  On one hand, this sucks, because you don't make as much money.  On the other hand, less AU activity means less likely to get a card shut down, so maybe you can do it longer.  But there's no real "risk" per se, other than not getting to make money on this indefinitely.  It's one reason why I wouldn't count on this money for FIRE budget or anything.

Take it while you can, whether it gets shut down due to FICO rule changes, your card gets shut down, a lot of other trade line sellers jump on board, whatever... to me, if I can make tens of thousands for a year or two, I'll be happy.  That's the expectation/hope I'm setting for myself, and if it lasts longer, great!  If it doesn't, well, I'm good with trying to do what I can with it in the meantime.

Quote
I'm about to ask for some CLIs and reallocate some credit and then signup using ARS's referral. It sucks to have to do all of this after always lowering credit limits and closing cards from churning to keep getting new cards.

Thanks!  Yeah, I always kept limits up under the theory that the more you have, the more they grant you, which is true of most of the CC companies, but some had "auto approve" if your total limits with them were < 30k or 50k or so, so if you had to lower to keep below that and get the auto-approves, that's a bummer.  I never had that issue (always kept limits high, and got auto approved), so I never paid too much attention to that (thought the lowering credit thing was mostly overrated).  Definitely a balance to strike if that is working for you though with regards to travel hacking/churning.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on August 02, 2016, 07:03:25 AM
Thanks!  Yeah, I always kept limits up under the theory that the more you have, the more they grant you, which is true of most of the CC companies, but some had "auto approve" if your total limits with them were < 30k or 50k or so, so if you had to lower to keep below that and get the auto-approves, that's a bummer.  I never had that issue (always kept limits high, and got auto approved), so I never paid too much attention to that (thought the lowering credit thing was mostly overrated).  Definitely a balance to strike if that is working for you though with regards to travel hacking/churning.

[Emphasis mine]

For my churning it was necessary to lower my credit limits on my Citi and Chase cards, otherwise I would not have been approved despite 800+ FICO.  This was handled through recon with the customer service reps.  It was worth it to obtain 5 Citi cards within a 12 month period, during the "AA loophole" era.  It's possible that I might shift the CL back onto open cards as I close the older cards, but it may not be worth the trouble as I'm unlikely to keep any cards open with an annual fee.

Overall my combined CL from open credit cards varies between 2x and 3x of my gross salary (which is a strange thing to contemplate in and of itself), but it will drop as I phase out of the churning game.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MrSal on August 02, 2016, 07:42:32 AM
crapp!! most of our CCards are newer than 2 years!!!

Also, since i travel hack i usually close cards that have a fee ... you guys think its wise to keep those cards longer due to this? or at least downgrade them to a no fee card maintaining the line?

currently my wife is the only one that has cards > 10k and more than 2 years ... ive been in the US less than 2 years so none of my cards are that old!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CmFtns on August 02, 2016, 08:14:30 AM
No! I hope it doesn't spread too much and increase the supply without an increase in the demand...

I think this is temporary, but yes, this is another "risk"--that it becomes very popular and your trade line sales decline--e.g. you don't sell as many as you would have otherwise.  On one hand, this sucks, because you don't make as much money.  On the other hand, less AU activity means less likely to get a card shut down, so maybe you can do it longer.  But there's no real "risk" per se, other than not getting to make money on this indefinitely.  It's one reason why I wouldn't count on this money for FIRE budget or anything.

Take it while you can, whether it gets shut down due to FICO rule changes, your card gets shut down, a lot of other trade line sellers jump on board, whatever... to me, if I can make tens of thousands for a year or two, I'll be happy.  That's the expectation/hope I'm setting for myself, and if it lasts longer, great!  If it doesn't, well, I'm good with trying to do what I can with it in the meantime.

I'm wondering if this thread specifically and all ARS referrals could temporarily flood this 1 company. How big are they? I was going to take advantage of this soon too once I get a little more organized in which CC I want to test it out with.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 02, 2016, 08:16:54 AM
all i know is i was expecting to get adds this month and it doesnt look like i will be getting any.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 02, 2016, 09:29:12 AM
Just wanted to drop a message that I received my direct deposit today, for my first 2 AUs added at the end of June.

Also, between yesterday and today I've received 4 new orders.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 02, 2016, 11:56:30 AM
just got my first add kinda strange only one of my 3 cards got an add and it was the worst of the 3 shortest open lowest limit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Bourbon on August 02, 2016, 12:21:05 PM
Posting to follow/research later.

I tend to sign up for a bonus and then close when the annual fee hits or get them to waive.  I probably have at least 10 open cards right now, not sure how many hit the age requirement. My biggest concern would be if an issuer decided to cancel all your cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on August 02, 2016, 12:33:49 PM
just got my first add kinda strange only one of my 3 cards got an add and it was the worst of the 3 shortest open lowest limit.

I'm guessing customers pay more for trade lines with longer histories and/or higher limits
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 02, 2016, 01:20:49 PM
crapp!! most of our CCards are newer than 2 years!!!

Also, since i travel hack i usually close cards that have a fee ... you guys think its wise to keep those cards longer due to this? or at least downgrade them to a no fee card maintaining the line?

currently my wife is the only one that has cards > 10k and more than 2 years ... ive been in the US less than 2 years so none of my cards are that old!

Yeah, I ran into this issue just this past month--I had some Barclay cards we had opened to travel hack in June and August 2014 that JUST hit two years.  They have an $89 annual fee which hit at the end of June.  The first year it was automatically waived signing up with the card, and last year we called and got them to waive it.  But this year, they refused to waive it, and there was no card to "downgrade" to without a fee.

Normally I ask them to waive it, ask them to downgrade it, and if they don't do either, I close the card (I just did this with another Barclay card--a Lufthansa one--for both of us that hit two years in the Spring--d'oh, kicking myself now that I know abut this).  So I was debating closing these.. is it worth the $89 fee?  Then I got two tradeline orders on them, and went, WELP, that way more than paid the fee, guess I'm keeping them.  :D

Even if you just get one order throughout the YEAR it covers the fee (unless it's like a $450 Citi Prestige or fancy Amex or something, but even those would just require 2 orders), so for me it was definitely worth it to keep them.

I'm wondering if this thread specifically and all ARS referrals could temporarily flood this 1 company. How big are they? I was going to take advantage of this soon too once I get a little more organized in which CC I want to test it out with.

Quite possible, it's a fairly small organization AFAIK.. I know of at least 3-4 different employees I've interacted with (and there's probably more), but a lot of this stuff is automated, so it's mostly CS (and that's mostly the end I've dealt with).  This thread got a lot of interest when I first posted, but PMs for referrals have petered out a lot.  I think also they either lost a member of the team, or they were out for some reason, which created an email backlog.. I'm sure they'll catch up soon.  In any case, I'd rather wait 48 hours to get a response (versus a more normal 24) from a good company than a 1 hour reply from a bad one.  :)

Just wanted to drop a message that I received my direct deposit today, for my first 2 AUs added at the end of June.

Also, between yesterday and today I've received 4 new orders.

Thanks for the confirmation on that.  Pretty sweet to see a "payroll" deposit for merely 5 minutes of adding someone to a cc, huh?  :P

just got my first add kinda strange only one of my 3 cards got an add and it was the worst of the 3 shortest open lowest limit.

Nice!  I didn't get any orders yesterday.  Hope you and kudy didn't take them all.  ;)

I tend to sign up for a bonus and then close when the annual fee hits or get them to waive.  I probably have at least 10 open cards right now, not sure how many hit the age requirement. My biggest concern would be if an issuer decided to cancel all your cards.

Like I mentioned in the OP, go to CreditKarma, check your report, and see which cards are reporting with an open date at least two years ago.  That's the easiest way to check, AFAIK.  :)

As far as them cancelling all your cards, yeah, that would suck.  Historically Chase is the only one to do that, so you want to be extra careful with them (and the company I use limits them to 2 lines, and every 3 months, to minimize activity and try to not get them shut down--they pay you more, to compensate for this having less lines, and to compensate you for the extra risk), the others just shut down the single card.

I'm guessing customers pay more for trade lines with longer histories and/or higher limits

Yup. So the person was probably on a budget and just needed a smaller bump.  You get paid the same either way (as long as they're in the same 10k range, but even if it's way older), so I love seeing those crappy cards get a trade line sale. It's not often, but it's pretty sweet.  :D
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 02, 2016, 02:24:53 PM
just got my first add kinda strange only one of my 3 cards got an add and it was the worst of the 3 shortest open lowest limit.

I'm guessing customers pay more for trade lines with longer histories and/or higher limits

I case it's not clear, you won't receive orders on any cards until the ~2 days leading up to the "Statement Closing" date they have on file for your card. I happen to have 3 cards that all have a statement date on the 31st, 1st, 2nd, so I will probably be busier at the end/beginning of a month than any other time.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 02, 2016, 02:42:24 PM
just got my first add kinda strange only one of my 3 cards got an add and it was the worst of the 3 shortest open lowest limit.

I'm guessing customers pay more for trade lines with longer histories and/or higher limits

I case it's not clear, you won't receive orders on any cards until the ~2 days leading up to the "Statement Closing" date they have on file for your card. I happen to have 3 cards that all have a statement date on the 31st, 1st, 2nd, so I will probably be busier at the end/beginning of a month than any other time.

Yup, they queue up the orders for your card, then release them a bit before the statement close so you can add them.

Sneaky workaround I discovered to see how many orders you have pending:  Click on the green checkmark (or box or whatever it is) next to each card and seeing how many spots you have left (e.g. 0, 1, or 2, if you only have 2 total spots). 

But yes, if you get any orders, they'll come in a day or two before their early deadline, and you'll have a few days to make the add (though I usually just do it right away).  Also a lot of times they come in really late (you won't see them pending, because they're placed right at the deadline), I imagine because people buying the lines buy one closing soon, rather than weeks out.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on August 02, 2016, 04:44:17 PM
So when you first get started, would it be beneficial to move your statement closing date up a bit? Say for example I start on the 4th and my statement normally closes on the 30th. Should I move it to the 15th, to expedite the process?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 02, 2016, 05:06:27 PM
So when you first get started, would it be beneficial to move your statement closing date up a bit? Say for example I start on the 4th and my statement normally closes on the 30th. Should I move it to the 15th, to expedite the process?

I wouldn't bother, it shouldn't make a difference.  I mean, that'll move up a bit sooner your first orders, but you'd get paid for all of those orders the same time (a month later).

So say you were starting now, and your statement day was the 30th, and you move it to the 10th.  You'll get to place the AUs sooner, but you'll get paid for either one (all of your August orders, in fact) at the end of Sept, so it doesn't make a difference when in the month you got the order.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Padonak on August 02, 2016, 05:16:29 PM
How much and how often do i need to spend on my credit cards to be eligible for selling tradelines? For example, if i charge one dollar on each, will this make them eligible?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 02, 2016, 05:27:09 PM
How much and how often do i need to spend on my credit cards to be eligible for selling tradelines? For example, if i charge one dollar on each, will this make them eligible?

Good question!

How Much:
There's no "amount" you have to spend, per se.

The key thing is, you want the CC company to report the line to the credit bureaus.  If the balance is $0, there's a risk they won't report it. So you want some balance.

From what I understand, some CC companies often "forgive" low balances because it's cheaper for them to do that then send you a bill (seriously.. I think if you owe like 50 cents, some CC companies just change it to zero at the end of your cycle).

What I've been doing is just putting various bills around on the different cards (electric on one, water on another, etc.--though I have a lot more random bills like this, and actually no personal ones, due to rental properties).

I also have, if I don't have a bill ready to use, but sold trade lines on a bunch of different cards, will just load up my Amazon gift card balance with $5.  I have this link (https://smile.amazon.com/asv/reload/order?manualReload.amount=5.00) bookmarked for that purpose.   I'd probably say doing a dollar or two is safe, but I've just done $5 to be sure.. no point risking several hundred dollars to not load $5 (especially because it's not even "spending," since it's just transferring money to me, anyways, to spend later on Amazon).

I do this because it's all digital--since I'm homeless, I don't even have copies of the cards with me.  If you live in a normal place, having all your CCs in a drawer and just sticking the one you need to spend on in your wallet and using it the next time you're at the grocery store is quite easy, too.

How Often:
Just the once/month, to have a balance when it closes.  Make sure you don't pay off the balance before the statement closes, but have it close with a balance.  You should, of course, pay it off before the due date so you don't pay interest, but don't accidentally send a payment before the statement even closes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on August 02, 2016, 06:41:39 PM
From what I understand, some CC companies often "forgive" low balances because it's cheaper for them to do that then send you a bill (seriously.. I think if you owe like 50 cents, some CC companies just change it to zero at the end of your cycle).

Yes, some do. Most of the thresholds are 99 cents or a dollar, but Discover forgives $2 and Comenity bank and Wells Fargo forgive $1.99. I usually game this, paying down my balance on cards that forgive balances to the forgiveness threshold right before the statement closes.

http://www.doctorofcredit.com/small-balance-waiver-a-k-a-lots-of-free-99-cent-amazon-gcs/ (http://www.doctorofcredit.com/small-balance-waiver-a-k-a-lots-of-free-99-cent-amazon-gcs/)

Really hard to scale but it's easy enough to do. And I don't stress over it - if I need to buy something with the card right around the statement closing date, I just buy it. Or if I need the float for the month, I don't pay it down before the statement closes.

I actually setup an Amazon allowance (automated purchase of Amazon gc) of $1/month on my capital one journey card. Sadly you can't set Amazon allowances for less than $5 now, but as long as I don't touch the settings of my current ones it keeps going just fine.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 02, 2016, 07:05:35 PM
Yes, some do. Most of the thresholds are 99 cents or a dollar, but Discover forgives $2 and Comenity bank and Wells Fargo forgive $1.99.

Nice, good to have some numbers around that.  Thanks for the info!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 02, 2016, 09:15:48 PM
Thanks for the reminder that some cards forgive low balances! I was putting $1 on my Discover today, but now I know I probably need 3.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on August 02, 2016, 09:55:07 PM
Ya, admitting cheap/guilty pleasure: I have a whole bunch of cards that I know forgive low single balances, and that I don't use. I have a habit of buying a free avacado or two a month with them.

After a long while one of my Capital One cards went into dormancy after I did nothing but getting free food for about a year.
I had to revive it because it's an old card and I want to sell the tradeline
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on August 02, 2016, 11:17:39 PM
Ya, admitting cheap/guilty pleasure: I have a whole bunch of cards that I know forgive low single balances, and that I don't use. I have a habit of buying a free avacado or two a month with them.

After a long while one of my Capital One cards went into dormancy after I did nothing but getting free food for about a year.
Haha wow, learned something new today. Always figured that a CC company would chase their balance down to the end, whatever the cost!


For those trying to revive an old CC: today I tried to revive an old Citi card that had been closed a good 10 years ago. This was long before everything had gone digital so it wasn't attached to my account, and the rep couldn't even see it listed under me (considering I probably had to give my SSN, that's actually a little odd that they can't see it).

Apparently it is possible if it's been closed only recently in the last few months for non-bad reasons, but the only thing I can do now is reapply for it.. .except I don't even know what the CC product is, only that I got (and still have) a free t-shirt from signing up. If only I knew..

So sadly, I've given up trying to revive that monster..
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 03, 2016, 03:46:54 AM
I did just get an email (as did the wife) with a breakdown of my commission for June, paystub, and it says it takes a few days and should be in my bank account Aug 2-4.  I'll report back in a few days with details of exact amount, # of sales, etc. 

As promised...

First Payment

Like I said earlier in the thread, I signed up in early June (after learning about this from another Mustachian at Camp Mustache III, who has been doing it for a year to a year and a half or so), and got my first trade line orders in mid-June.

There is a one month lag on payment for the company I use (as they verify on the AU's credit report that the trade line posted, and fully refund them if it didn't).  The downside with that is, it may mean you don't get paid if something doesn't post right, which I'd soon learn personally (uh, oh, foreshadowing).  :D

Here's the tradelines we sold between my wife and I:
1) Bank of America x 3 ($225 each) Did not post, so no payment (more on this below)
2) Chase x2 ($262.50 & $350)
3) Discover x5 ($150 each)

We also received a signup bonus of $75 each (a promotion they were doing for awhile--one of them wasn't included, and was paid separately a day later--it's still pending, but I decided to go ahead and write this up, as the main payments posted).

In total, we were paid $1,512.50 for our first month of trade line sales, which you can see in the following screen shot (must be logged in to the forums to see it).

(http://forum.mrmoneymustache.com/share-your-badassity/selling-tradelines-piggybacking-$600hr-20-40kyr-side-gig/?action=dlattach;attach=24185)

The good:

The not-as-good:

Conclusion
All in all, couldn't be much happier with the first month.  The B of A hiccup was unfortunate, but I can't complain.  We're on track to cover over half our ER budget, and I could see, if B of A posts properly, I max out the Discover (now at 5 tradelines), the other Barclay/Citi cards get some sales, and I open Chase back up, we could easily be making $40k/yr., more than covering our whole ER budget.  And the amount of time?  Forget the famous four hour work week, it's more like four hour work month.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 03, 2016, 05:45:51 AM
awesome write up i wish i had more cards to put into the system than i do.  though many turn 2 this winter.  hope my bofa cards post b/c thats the only AUs i got this month.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: hoping2retire35 on August 03, 2016, 05:57:31 AM
bah! I am trying to be cautious and hesitate but this is making it hard!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MrSal on August 03, 2016, 12:26:55 PM
hmm will read into this later tonight... just made a quick inventory and between my wife and I only 1 is eligible probably ... 1 CC with 7 years and 19k line.

We do have another card with 24k and another with 17k however, they've been open for about a year. Will try to call other cards to have the limits bumped hopefully.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 03, 2016, 01:41:32 PM
Bah, I filled out all the e-paperwork over the weekend and got submittal auto-confirm. No response yet, and I'm still not approved.


[Edit: Removed company name, per earlier discussion. PM me with questions/concerns. Cheers!]
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 03, 2016, 01:51:38 PM
I did just get an email (as did the wife) with a breakdown of my commission for June, paystub, and it says it takes a few days and should be in my bank account Aug 2-4.  I'll report back in a few days with details of exact amount, # of sales, etc. 

As promised...

First Payment

Very nice first month! All of my cards are on their old 1 month cycle. For June & July I earned a piddly $200 (2 x $100) in each month (slow season?). The direct deposit I just received was June's payment of $200. Assuming everything posts without trouble, August is likely to be much better with $500 earned so far (2 x $150 & 2 x $100), and a lot of potential with additional slots on other cards throughout the month.

ARS, at what point did you request that they increase the number of "spots" on your cards? It wasn't clear to me how long I needed to keep them at 2. I think I'll ask for all of my add-online cards to 4, and possibly keep all of my call-in cards at 2?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 03, 2016, 02:42:06 PM
Bah, I filled out all the e-paperwork over the weekend and got submittal auto-confirm. No response yet, and I'm still not approved.

Weird.  I thought their response times are running around 48 hours or so.  Let us know when you do hear!  I'd bet it'll be soon.

Very nice first month! All of my cards are on their old 1 month cycle. For June & July I earned a piddly $200 (2 x $100) in each month (slow season?). The direct deposit I just received was June's payment of $200. Assuming everything posts without trouble, August is likely to be much better with $500 earned so far (2 x $150 & 2 x $100), and a lot of potential with additional slots on other cards throughout the month.

I thought about asking to go onto the new pay schedule, but it's tough to decide between $150 every month, and $225 every other month.  Your $100 cards wouldn't be eligible yet, until you raise the limits, but that's something to think about.  Might make almost as much, and lower the risk getting them shut down.

Quote
ARS, at what point did you request that they increase the number of "spots" on your cards? It wasn't clear to me how long I needed to keep them at 2. I think I'll ask for all of my add-online cards to 4, and possibly keep all of my call-in cards at 2?

About a week ago.  Per the FAQ, they will increase your number of tradelines after your first one posts. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 03, 2016, 04:16:04 PM
Bah, I filled out all the e-paperwork over the weekend and got submittal auto-confirm. No response yet, and I'm still not approved.

Weird.  I thought their response times are running around 48 hours or so.  Let us know when you do hear!  I'd bet it'll be soon.


I sent them a polite email that I had completed the paperwork, and followed up giving them more information on a card from a bank not on their list (19+ years old, so juicy!)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 03, 2016, 04:30:39 PM
a card from a bank not on their list (19+ years old, so juicy!)

Nice!  I have some data to post on that (negotiating older/larger lines), off to shower and eat right now, but I will post today.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: PAO on August 03, 2016, 04:34:49 PM
I get that this is legal and it only violates the boilerplate CC user agreement (for some reason this reminds me a bit of the Simpson's episode where the cable guy hands Homer a brochure titled "So you've decided to steal cable" to ease his mind).  But it's a zero sum game - there are going to be winners and losers. 

For example, supposing someone is taking out a Lending Club loan and gets a B rating rather than an F rating thanks to this AU scheme.  The losers in that case would be the investors in that loan or the basket of similarly scored loans.  It's easy to imagine that people on this forum would fall into that loser category. 

Another example would be investors in automobile or other finance companies (likely most of us readers are by virtue of investing in the total stock market).   

Granted, the losses would likely be distributed (or socialized) across such a high volume of losers per winner that the hit for each loser would be quite small - and I'm assuming that folks with a 750 credit score thanks to being an AU have a higher default rate than folks with a 750 score on their own merits. 

Maybe I have a naive affinity to the Golden Rule but to me this seems like a pretty black and white decision to not participate in this kind of arrangement.  Am I missing something here?   
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 03, 2016, 05:21:27 PM
Am I missing something here?

Not if you think all credit scores are earned "fairly" and are 100% indicative of future willingness to pay.  If that's the case, yes, it's probably a zero-sum game.

I think it's possible neither of these are the case.

As far as indicator to pay, I think it's completely possible that the people intelligent enough to realize their credit score is bad, that it's affecting them, and find a tool like this to utilize short-term are more likely to turn around their credit than the average person that has bad credit.  E.g. it's more likely that they got bad credit before realizing the importance of good credit, and are working to turn that around, and are more likely in the future to pay debts to get their credit good than the average person with the same initial credit score as them.

As far as fairness of credit scores, MANY people with bad credit are affected by medical bills.  Like, this survey (http://kff.org/health-costs/press-release/new-kaisernew-york-times-survey-finds-one-in-five-working-age-americans-with-health-insurance-report-problems-paying-medical-bills/) from January of this year showed that:

"Among people with health insurance, one in five (20%) working-age Americans report having problems paying medical bills in the past year that often cause serious financial challenges and changes in employment and lifestyle, finds a comprehensive new Kaiser Family Foundation/New York Times survey. As expected, the situation is even worse among people who are uninsured: half (53%) face problems with medical bills, bringing the overall total to 26 percent."

26 percent of people had trouble with medical bills in the last YEAR.  And obviously some people will have older medical debt.  So yeah, I'd imagine a good chunk of the people using a service like this are affected by something like that.  It's terrible.

Someone like that, who has been hit by a medical situation, and due to the * health insurance system our country has, now is getting hurt AGAIN by that hitting their credit, costing them more in interest, etc.

Someone like that I think may be more likely to pay their bills than someone else with that same credit score who got it by not paying a bunch of random (utility, CC, etc.) bills.  So I don't know that it's "fair" in either sense of the term for them to have that credit score--it may not be fair as in it may not be accurate, and it may not be fair in the golden rule style of kicking someone when they're down.

Now, obviously, you don't know why the person is boosting their credit.  But with the large prevalence of medical debt, I think it's likely that many people with bad credit scores are in this situation and may seek out this tool.  It might be more right, in a golden rule sense, to help them out.

So, in short, I think your concern of a zero-sum game and the golden rule is totally valid.  I just don't know that it is the case that it's a zero sum game, and even if it is, I don't know that it's the case that it's still not moral (if you're going by the golden rule) to help them, and I think it may well not be the case with either of those two things.

Again, it's like I've mentioned before in this thread: it's something each person will have to think about, and decide on their own what they believe, where their line lines, and act accordingly.

Thanks for bringing up the concern, it's definitely a good one, and definitely one everyone considering this should think about!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on August 03, 2016, 05:28:42 PM
Not to mention our credit reports and hence scores don't even take into account whether you carry a balance on your cards or not, which I would assume should be a great indicator of willingness to pay.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 03, 2016, 05:38:05 PM
Not to mention our credit reports and hence scores don't even take into account whether you carry a balance on your cards or not to which I would assume should be a great indicator of willingness to pay.

Yeah, it's weird that's not a factor.  I think credit scores are somewhat efficient, but without much competition to FICO, it's not 100% so.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on August 03, 2016, 05:49:14 PM
Not to mention our credit reports and hence scores don't even take into account whether you carry a balance on your cards or not to which I would assume should be a great indicator of willingness to pay.
It does through the credit utilization portion (used / available credit), but that can also vary depending on when the CC company reports to the bureau, and also which bureau that impacts the final result. debt that is carried over in months would get in the report, one that is paid off  every time might or might not get included in the total credit used. A high credit utilization I think around 50% can greatly negative impact the score. You probably never realized because you're probably at like 1-2% every month! :P

As a system, one that is frequently relied upon as one of the sole factors in accepting or denying other services, I find the entire structure is way to loose and shaky.
There are 3 bureaus, a CC company does not have to report to all of them nor does it have to occur on a fixed schedule. The credit score should really be exactly what people imagine it to be: an actual snapshot of your financial situation, not this piecemeal subset of generally your possible financial shape. Way too much grey area involved for a system we depend heavily on to determine a person's fiscal responsibility, in my opinion.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: PAO on August 03, 2016, 05:51:28 PM
Thanks for the thoughtful reply ARS.  My first thought as I read through it was imagining a person saying, "well, I can't afford to pay for my ACL surgery but I'm gearing up to buy a new SUV on credit so better bolster my credit rating."  I'm sure there are other more sympathetic scenarios but I'm still not swayed.  I have a modest LC account and I'd prefer that the loans I'm funding were not upgraded through the AU approach.  Credit scoring may be imperfect but it's one of only a few parameters available to score an applicant. 

As far as the golden rule on helping people out with medical debt - I think John Oliver wins in that category: 

https://www.youtube.com/watch?v=_uBeZaVM2VU 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 03, 2016, 06:01:06 PM
My first thought as I read through it was imagining a person saying, "well, I can't afford to pay for my ACL surgery but I'm gearing up to buy a new SUV on credit so better bolster my credit rating."

Yeah, there's probably some of that.  I guess I'm a little more sympathetic, as I've seen some tough situations.  If someone needs a car to get to work to get back to paying that medical debt, kicking them when they're down (charging them more interest) is sorta rough.  I don't automatically assume it'll be a brand new SUV or anything.  IDK, I guess I'm just giving them the benefit of the doubt where I can. And it's not like this totally solves that (they have to pay a large amount, IMO, for the boost), but it may help somewhat. 

Quote
As far as the golden rule on helping people out with medical debt - I think John Oliver wins in that category: 
https://www.youtube.com/watch?v=_uBeZaVM2VU

100% agree.  :)

I'd just love if our healthcare system is fixed in general.  Medical debt is just a symptom, but it's a pretty terrible one.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on August 03, 2016, 06:32:43 PM
Not to mention our credit reports and hence scores don't even take into account whether you carry a balance on your cards or not to which I would assume should be a great indicator of willingness to pay.
It does through the credit utilization portion (used / available credit), but that can also vary depending on when the CC company reports to the bureau, and also which bureau that impacts the final result. debt that is carried over in months would get in the report, one that is paid off  every time might or might not get included in the total credit used. A high credit utilization I think around 50% can greatly negative impact the score. You probably never realized because you're probably at like 1-2% every month! :P

No, it doesn't. Utilization is in no way equivalent to whether you carry a balance or not.

I could charge $3k to a card with a $10k limit and have the statement close. Next month, I could pay it all off by the due date and charge another $3k to the card.  Each month the statement closing balance is reported, so I'd have a credit utilization of 30% both months.

A different person could charge $3k to a card with a $10k limit and have the statement close. Next month they only make a minimum payment of $25 and don't charge anythign else to the card. They'd also have a credit utilizaiton of 30% both months.

Both usage patterns would have the exact same effect on our credit scores but I have a much higher willingness to pay than the other perosn.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on August 04, 2016, 11:39:52 AM
Not to mention our credit reports and hence scores don't even take into account whether you carry a balance on your cards or not to which I would assume should be a great indicator of willingness to pay.
It does through the credit utilization portion (used / available credit), but that can also vary depending on when the CC company reports to the bureau, and also which bureau that impacts the final result. debt that is carried over in months would get in the report, one that is paid off  every time might or might not get included in the total credit used. A high credit utilization I think around 50% can greatly negative impact the score. You probably never realized because you're probably at like 1-2% every month! :P

No, it doesn't. Utilization is in no way equivalent to whether you carry a balance or not.

I could charge $3k to a card with a $10k limit and have the statement close. Next month, I could pay it all off by the due date and charge another $3k to the card.  Each month the statement closing balance is reported, so I'd have a credit utilization of 30% both months.

A different person could charge $3k to a card with a $10k limit and have the statement close. Next month they only make a minimum payment of $25 and don't charge anythign else to the card. They'd also have a credit utilizaiton of 30% both months.

Both usage patterns would have the exact same effect on our credit scores but I have a much higher willingness to pay than the other perosn.
But are you continuing to charge 3k each and every month? Your overall utilization is still covering 30% of the credit limit you have available. Just because you pay it off and charge more, or if you carry it over from one month to the next, the net effect is the same of how much credit you have available vs how much you use at a time. They don't care whether you pay it off each time or simply let it accumulate and pay only minimums because the resulting picture is the same to them which is to capture "how well could you handle additional debt". In both situations, it's measuring your capacity to pay off the new debt + the 3k you currently owe, regardless of your history of being able to pay off X per month.

Actually I agree with you, our credit report should capture your willingness to pay, but the credit score doesn't quite capture that history. Rather it captures a person's inability / unwillingness to pay, and uses that as proof to approve or deny future debts.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on August 04, 2016, 12:01:50 PM
Not to mention our credit reports and hence scores don't even take into account whether you carry a balance on your cards or not to which I would assume should be a great indicator of willingness to pay.
It does through the credit utilization portion (used / available credit), but that can also vary depending on when the CC company reports to the bureau, and also which bureau that impacts the final result. debt that is carried over in months would get in the report, one that is paid off  every time might or might not get included in the total credit used. A high credit utilization I think around 50% can greatly negative impact the score. You probably never realized because you're probably at like 1-2% every month! :P

No, it doesn't. Utilization is in no way equivalent to whether you carry a balance or not.

I could charge $3k to a card with a $10k limit and have the statement close. Next month, I could pay it all off by the due date and charge another $3k to the card.  Each month the statement closing balance is reported, so I'd have a credit utilization of 30% both months.

A different person could charge $3k to a card with a $10k limit and have the statement close. Next month they only make a minimum payment of $25 and don't charge anythign else to the card. They'd also have a credit utilizaiton of 30% both months.

Both usage patterns would have the exact same effect on our credit scores but I have a much higher willingness to pay than the other perosn.
But are you continuing to charge 3k each and every month? Your overall utilization is still covering 30% of the credit limit you have available. Just because you pay it off and charge more, or if you carry it over from one month to the next, the net effect is the same of how much credit you have available vs how much you use at a time. They don't care whether you pay it off each time or simply let it accumulate and pay only minimums because the resulting picture is the same to them which is to capture "how well could you handle additional debt". In both situations, it's measuring your capacity to pay off the new debt + the 3k you currently owe, regardless of your history of being able to pay off X per month.

Actually I agree with you, our credit report should capture your willingness to pay, but the credit score doesn't quite capture that history. Rather it captures a person's inability / unwillingness to pay, and uses that as proof to approve or deny future debts.

In this scenario, yes. I would be charging $3k a month and paying $3k a month. Yes I understand it's the same utilization.

But I'm saying that the fact that I'm not carrying a balance is not captured. I'm contending that my ability to pay off this $3k every single month (as in, not carrying a balance) is a far better indicator of willingness to pay future debt than the other person who's merely making minimum payments, even if we have the same credit utilization.
If we don't agree on this point, then we really don't have much more to discuss.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on August 04, 2016, 03:28:25 PM
I agree whole-heartedly. That willingness to pay is not captured, and would be a Way better indicator to show in the credit report.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 04, 2016, 03:51:37 PM
June July and August are the slow months just so everyone is aware
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 04, 2016, 03:54:39 PM
Bah, I filled out all the e-paperwork over the weekend and got submittal auto-confirm. No response yet, and I'm still not approved.

Weird.  I thought their response times are running around 48 hours or so.  Let us know when you do hear!  I'd bet it'll be soon.


I sent them a polite email that I had completed the paperwork, and followed up giving them more information on a card from a bank not on their list (19+ years old, so juicy!)

Approval email came in at 1:53PM today followed by an email response to my inquiry yesterday.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Anomalous on August 04, 2016, 08:50:12 PM
Intriguing idea; I had never heard of this before. I got a referral from arebelspy and sent an email to the company he recommended.

Unfortunately I pared down my open accounts a few years ago, and closed the oldest ones with the highest credit limits because I wasn't using them. Now I only have one eligible account for certain, maybe two if I get a credit line increase, and they're both Chase cards. I also have a Lowe's store card; I asked the company if that can be used (authorized users have to be added by phone or mail, so that would be a bit more trouble.)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 05, 2016, 07:22:03 AM
Intriguing idea; I had never heard of this before. I got a referral from arebelspy and sent an email to the company he recommended.

Unfortunately I pared down my open accounts a few years ago, and closed the oldest ones with the highest credit limits because I wasn't using them. Now I only have one eligible account for certain, maybe two if I get a credit line increase, and they're both Chase cards. I also have a Lowe's store card; I asked the company if that can be used (authorized users have to be added by phone or mail, so that would be a bit more trouble.)

You may be able to re-open the closed credit lines.

Give the banks a call. If the first person says no, thank them, hang up and call again to get someone else.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Ensign1999 on August 05, 2016, 11:30:26 AM
Posting to follow.

Really interesting idea and even if I register the one (maybe two, need to check) cards and only sell a single tradeline ever other month, it is still an extra grand or two per year.  Like ARS said, not bad for the small amount of work it takes once you are set up.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 05, 2016, 04:22:13 PM
Bah, I filled out all the e-paperwork over the weekend and got submittal auto-confirm. No response yet, and I'm still not approved.

Weird.  I thought their response times are running around 48 hours or so.  Let us know when you do hear!  I'd bet it'll be soon.


I sent them a polite email that I had completed the paperwork, and followed up giving them more information on a card from a bank not on their list (19+ years old, so juicy!)

Approval email came in at 1:53PM today followed by an email response to my inquiry yesterday.

Good to know. Thanks for following up!  :)

Really interesting idea and even if I register the one (maybe two, need to check) cards and only sell a single tradeline ever other month, it is still an extra grand or two per year.  Like ARS said, not bad for the small amount of work it takes once you are set up.

Yeah, that's the thing, even if you don't go crazy and sign up a bunch of cards like the wife and I did, even a card or two is a nice little fun money income.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 05, 2016, 04:23:01 PM
Quote
Also, when I emailed them a question today, I got an automated email response saying that due to a "high volume of emails from investors" they would be slower than usual to respond.  Sounds like the word is spreading.

No! I hope it doesn't spread too much and increase the supply without an increase in the demand...

I think this is temporary, but yes, this is another "risk"--that it becomes very popular and your trade line sales decline--e.g. you don't sell as many as you would have otherwise.  On one hand, this sucks, because you don't make as much money.  On the other hand, less AU activity means less likely to get a card shut down, so maybe you can do it longer.  But there's no real "risk" per se, other than not getting to make money on this indefinitely.  It's one reason why I wouldn't count on this money for FIRE budget or anything.

Take it while you can, whether it gets shut down due to FICO rule changes, your card gets shut down, a lot of other trade line sellers jump on board, whatever... to me, if I can make tens of thousands for a year or two, I'll be happy.  That's the expectation/hope I'm setting for myself, and if it lasts longer, great!  If it doesn't, well, I'm good with trying to do what I can with it in the meantime.

...annndd here we are.  :)

The company asked me to pause referrals for a week or two, to try and avoid that saturation point, especially since we're in the slow season.

They aren't taking any new signups for the moment (unless you were previously referred).  Hope everyone interested got their paperwork signed and trade lines set up!  :)

If you're still interested, PM me and I can add you to a list, and in about a week and 1/2 (Aug 15) I'll hopefully be able to refer you!

Basically the main reason we're paused is this:
June July and August are the slow months just so everyone is aware

So if you have signed up, and don't see a ton of sales this month, don't get too discouraged.

I'll keep you all updated though.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 05, 2016, 04:47:44 PM
Tradeline is now set up. No confirmation email, but it shows on the website.

Oddly, the statement date listed on the website is about a week earlier than the date I gave them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 05, 2016, 05:07:54 PM
Oddly, the statement date listed on the website is about a week earlier than the date I gave them.

They usually set it 3 days earlier, so that all orders you get come in by then, and you have a few days to get everyone added.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TexasMu on August 06, 2016, 01:43:31 PM
areblspy - I'm thinking about doing an app-o-rama to get in on this crazy train as well.  I
currently just have one Chase Hyatt card with 22k limit.  Still have
 another year to get 2 year requirement.  Here are the cards I am thinking will work

Discover
Citibank
Capital One
Chase

Question is: Bank of America ?  Will they post to au history or have they closed this loophole ?

TIA
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 06, 2016, 01:46:49 PM
Bank of America is up in the air right now--they just started having issues posting to all 3 in June.

Who knows if this will still be around several years from now; I likely wouldn't open cards now just for that purpose (though if you're opening them for travel hacking or some other purpose, leaving them open--and even paying an annual fee to do so--may be reasonable, maybe not, depending).

That's, of course, up to you.  I can confirm all those cards work as of right now.

If you only have the one card, you should work on getting other cards though just to raise your credit score, IMO, over the next few years (and might as well get some signup bonuses along the way). So in your case I'd say you should open some cards anyways, and if it turns out that this is available in the future, great! But that shouldn't be the reason why you open them, IMO.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: johnny847 on August 06, 2016, 01:47:53 PM
areblspy - I'm thinking about doing an app-o-rama to get in on this crazy train as well.  I
currently just have one Chase Hyatt card with 22k limit.  Still have
 another year to get 2 year requirement.  Here are the cards I am thinking will work

Discover
Citibank
Capital One
Chase

Question is: Bank of America ?  Will they post to au history or have they closed this loophole ?

TIA
I wouldn't apply for a bunch of cards just to get in on this 2 years from now. A lot could happen in two years including a change in policy on the banks, a change the credit reporting, etc.


Just apply for the cards you want without any consideration to whether you can easily sell trade lines on them. If 2 years later you can, great. If not, that's fine too.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TexasMu on August 06, 2016, 08:47:44 PM
I appreciate the feedback areblspy and johnny.  I'll keep following this thread and I'm sure I'll be back once I get closer to actually getting into the game.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Dexterous on August 06, 2016, 09:35:16 PM
You guys may end up in court with financial/wire fraud charges.  Some of the authorized users you are adding are false identities for criminal enterprises.  They use your good credit to buy tons of stuff and never pay it back.  This has already happened, and many people are sitting in prison right now for it.  Even if the authorized users are not criminals, you are still committing a crime by defrauding whatever institution is offering your authorized user(s) loans or lower interest rates.  These are federal offenses that will land you in jail and can prevent future employment. 

Here's an extreme example:  https://archives.fbi.gov/archives/newark/press-releases/2013/eighteen-people-charged-in-international-200-million-credit-card-fraud-scam
https://www.justice.gov/usao-nj/pr/leader-international-200-million-credit-card-fraud-scam-sentenced-80-months-prison
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 07, 2016, 01:07:18 AM
You guys may end up in court with financial/wire fraud charges ... This has already happened, and many people are sitting in prison right now for it.

Citation needed. 

Please provide one case where someone adding an AU went to court over it.

The links you provided were of 18 people indited who created 7,000 fake identities.  I'm assuming no one here is creating fake identities.

It sounds like they mostly used tradelines between the fraudulent IDs to boost the credit scores within their own network:
Quote
Some defendants created and sold fake lines of credit for false identities made up by other defendants. These fraudulent primary tradelines were then used to increase the credit limits on fraud cards, so that the defendants could reap even larger profits.

If they bought tradelines from other, real people, did any of those people get charged with anything?

That seems to me like a textbook case of fraud, yet only the people doing the actual fraudulent part (fake identities, fraudulent transactions, etc.) went to jail, as it should be.  Even in that egregious case, no one else (such as someone who may have sold one of their fake IDs a tradeline) was charged, were they?  Maybe they were, and I just don't know about it.

I mean, fraud definitely happens in the industry.  You want to avoid it, obviously.  The first step is avoiding the shady companies who don't care about fraud happening.  The company I use verifies people's identity before allowing them to purchase tradelines, for example.

Thanks for the heads up and example--it's definitely something someone looking into this should be aware of and watch out for.   But again, I'm not super concerned, because what I'm doing is legal.  Adding authorized users to a credit card is totally legal.  If someone else commits fraud, I have nothing to do with that; I have no knowledge or reason to suspect anyone of fraud, and if I did, I'd definitely decline to authorize them to be on one of my accounts.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 07, 2016, 06:32:52 AM
The company arebelspy referred seems to take great pains to keep everything legit. The require a real bank for direct deposit for paying out for tradeline use. They verify ID on those wanting tradelines and require a real SSN.

They also charge a high enough price that it really doesn't make sense for a fraud ring to use them when there are much cheaper, lower hassle options for fraud.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: trailcamaddict on August 08, 2016, 09:22:50 AM
Quote
Also, when I emailed them a question today, I got an automated email response saying that due to a "high volume of emails from investors" they would be slower than usual to respond.  Sounds like the word is spreading.

No! I hope it doesn't spread too much and increase the supply without an increase in the demand...

I think this is temporary, but yes, this is another "risk"--that it becomes very popular and your trade line sales decline--e.g. you don't sell as many as you would have otherwise.  On one hand, this sucks, because you don't make as much money.  On the other hand, less AU activity means less likely to get a card shut down, so maybe you can do it longer.  But there's no real "risk" per se, other than not getting to make money on this indefinitely.  It's one reason why I wouldn't count on this money for FIRE budget or anything.

Take it while you can, whether it gets shut down due to FICO rule changes, your card gets shut down, a lot of other trade line sellers jump on board, whatever... to me, if I can make tens of thousands for a year or two, I'll be happy.  That's the expectation/hope I'm setting for myself, and if it lasts longer, great!  If it doesn't, well, I'm good with trying to do what I can with it in the meantime.

...annndd here we are.  :)

The company asked me to pause referrals for a week or two, to try and avoid that saturation point, especially since we're in the slow season.

They aren't taking any new signups for the moment (unless you were previously referred).  Hope everyone interested got their paperwork signed and trade lines set up!  :)

If you're still interested, PM me and I can add you to a list, and in about a week and 1/2 (Aug 15) I'll hopefully be able to refer you!

Basically the main reason we're paused is this:
June July and August are the slow months just so everyone is aware

So if you have signed up, and don't see a ton of sales this month, don't get too discouraged.

I'll keep you all updated though.  :)

Based on this little set back I would be curious to know if any forum members have had good experiences with other brokers?  Surely there are other legit and honest companies in this space. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 08, 2016, 10:27:53 AM
figured the day would come.  oh well at least they are looking out for both sides of the table right now.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: svtt on August 08, 2016, 01:24:02 PM

Will the AU be able to contact the credit card company and say that they lost the card and need the card number details to make an urgent purchase while a new card is on the way. Since they can supply their own name, snn and dob, will the customer service person just hand over the AU credit card details to the AU by phone?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 08, 2016, 01:34:27 PM
Based on this little set back I would be curious to know if any forum members have had good experiences with other brokers?  Surely there are other legit and honest companies in this space.

I've been looking, believe me.  :)

I have very high standards though, that may be the problem (though I think it's mostly a good thing, for something like this).

Definitely let me know if you find any.

figured the day would come.  oh well at least they are looking out for both sides of the table right now.

Yeah, that's the good news.  :)

Definitely better to have a balance between buyers and sellers than a glut of one or the other.

Will the AU be able to contact the credit card company and say that they lost the card and need the card number details to make an urgent purchase while a new card is on the way. Since they can supply their own name, snn and dob, will the customer service person just hand over the AU credit card details to the AU by phone?

No.  First of all, they have none of your details, which are needed to access the account.  Second of all, you cannot get that info over the phone (even if you did have those details--go ahead and call and try to get that info over the phone on your account. They won't give it to you).  And, as covered earlier in the thread, there is no way for them to get a card on their own.

The company I use told me that after several years of doing this, they've had exactly zero fraudulent transactions/purchases by AUs on a card they were added to.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: svtt on August 08, 2016, 01:47:19 PM
Based on this little set back I would be curious to know if any forum members have had good experiences with other brokers?  Surely there are other legit and honest companies in this space.

I've been looking, believe me.  :)

I have very high standards though, that may be the problem (though I think it's mostly a good thing, for something like this).

Definitely let me know if you find any.

figured the day would come.  oh well at least they are looking out for both sides of the table right now.

Yeah, that's the good news.  :)

Definitely better to have a balance between buyers and sellers than a glut of one or the other.

Will the AU be able to contact the credit card company and say that they lost the card and need the card number details to make an urgent purchase while a new card is on the way. Since they can supply their own name, snn and dob, will the customer service person just hand over the AU credit card details to the AU by phone?

No.  First of all, they have none of your details, which are needed to access the account.  Second of all, you cannot get that info over the phone (even if you did have those details--go ahead and call and try to get that info over the phone on your account. They won't give it to you).  And, as covered earlier in the thread, there is no way for them to get a card on their own.

The company I use told me that after several years of doing this, they've had exactly zero fraudulent transactions/purchases by AUs on a card they were added to.


Thanks for the clarification.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Anomalous on August 08, 2016, 02:42:36 PM
The company asked me to pause referrals for a week or two, to try and avoid that saturation point, especially since we're in the slow season.

They aren't taking any new signups for the moment (unless you were previously referred).  Hope everyone interested got their paperwork signed and trade lines set up!  :)
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: codemonkey on August 08, 2016, 02:51:18 PM
The company asked me to pause referrals for a week or two, to try and avoid that saturation point, especially since we're in the slow season.

They aren't taking any new signups for the moment (unless you were previously referred).  Hope everyone interested got their paperwork signed and trade lines set up!  :)
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.

I sent a request on August 2nd and received a reply on the third that they were behind on email and would respond to my request as soon as possible.  I didn't expect to ever hear back from them, but I received an email this morning with all the information I needed to sign up. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: missundecided on August 08, 2016, 02:54:47 PM
 
Quote
First of all, they have none of your details, which are needed to access the account.  Second of all, you cannot get that info over the phone (even if you did have those details--go ahead and call and try to get that info over the phone on your account. They won't give it to you).  And, as covered earlier in the thread, there is no way for them to get a card on their own.

Quick question related to this while I wait for them to respond to my email as well:

If it's possible for the sellers to receive the buyers' occasional mail, I'm guessing this means the seller's address shows up on the buyer's credit report as part of their history? Which they can access. What doesn't stop the buyer from doing a reverse address look up and finding my name, for example?

Also, do you have to provide the tradeline company with YOUR SSN too? I think this is the part that makes me the most nervous. Kind of feels like I'm SELLING them my identity, even though technically (?) I'm not.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 08, 2016, 04:29:06 PM
If it's possible for the sellers to receive the buyers' occasional mail, I'm guessing this means the seller's address shows up on the buyer's credit report as part of their history? Which they can access. What doesn't stop the buyer from doing a reverse address look up and finding my name, for example?

I suppose this is possible, if your address shows up.

So let's play out that scenario.  What do you think can happen?  The person gets your address, and then name.  You, in the meantime, remove them as an AU after a month.

What can they do with an address and name?  Keep in mind the phone book publishes people's addresses, names, and telephone numbers.

Quote
Also, do you have to provide the tradeline company with YOUR SSN too? I think this is the part that makes me the most nervous. Kind of feels like I'm SELLING them my identity, even though technically (?) I'm not.

You are an independent contractor for this company, selling tradelines.  They have to issue you a 1099, so yes, they need a SSN for you.  You could provide them with an EIN, I suppose, if you want to set up a business for this, rather than doing it as self-employed.  Either way, to be on the up and up with the IRS, yes, you need one of those.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Anomalous on August 11, 2016, 08:50:23 PM
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Turns out I was just being impatient. They did get back to me; it just took a week. I'm going through the paperwork now.

The credit cards that I closed a couple years ago were through HSBC, and they don't accept HSBC cards, so there's no point in trying to re-activate those. My Lowe's card lets authorized users be added with only a name and no other identifying information, so there's no way for that to show up on an AU's credit report, so it's worthless for this.

I have two eligible Chase cards and could either split the credit line $10k/$10k, or load $20k onto one card. Since Chase is closing credit cards for excessive use of authorized users, they say it's probably best to use a single card with $20k limit, which is worth $300 every 3 months. So because I don't have many old credit cards around, the best I can do is about $1200/year.  Still a stupid amount of money if all I have to is add and remove an authorized user once every 3 months.

This is tangential to the topic, but I thought it was interesting:
I had a credit limit of $17,500 split between the two Chase cards. When I asked for an increase last year, I called customer support during US business hours. I talked to someone in the US who asked me how much additional credit I needed and ran through all the various options. This year I called after US business hours and talked to someone who was probably in India. They didn't bother to ask how much more limit I needed, just bumped it up by $2500 and said that was all they could do but I was welcome to call back again later. So I called again the next night, talked to someone in India again, and this time they bumped up the limit by $3000 (again without asking how much I wanted.) I wasn't really sure what would happen asking for an increase two days in a row, but there must be some automatic approval for low amounts. I did ask for an increase on a different card number each time, but they're both Chase Freedom cards in my name. That got the total credit limit up to $23,000, and I had them re-allocate that to be $20,500 on the oldest card and $2500 on the younger one.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 11, 2016, 09:01:31 PM
I agree with you, with Chase it's better to consolidate.  We did the same thing.

Interesting info on how they added credit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Dicey on August 12, 2016, 08:08:14 AM
Following...very interesting.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Mike2 on August 12, 2016, 08:33:53 AM
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Turns out I was just being impatient. They did get back to me; it just took a week. I'm going through the paperwork now.

The credit cards that I closed a couple years ago were through HSBC, and they don't accept HSBC cards, so there's no point in trying to re-activate those. My Lowe's card lets authorized users be added with only a name and no other identifying information, so there's no way for that to show up on an AU's credit report, so it's worthless for this.
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Anomalous on August 12, 2016, 09:49:52 AM
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?
What this company told me is "We specifically need SSN, DOB, or address to post correctly." With the address on there it should work, but I don't think there are any guarantees. Your kids can check their credit report to confirm.   
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Mike2 on August 12, 2016, 10:47:42 AM
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?
What this company told me is "We specifically need SSN, DOB, or address to post correctly." With the address on there it should work, but I don't think there are any guarantees. Your kids can check their credit report to confirm.
I was going to have them check in a couple months any way so now all the more reason to have them do it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 12, 2016, 10:47:49 AM
I got a referral from you last week and sent them a message, but it's been 5 days (3 business days) with no reply now. So either they're even more backlogged than before, or they are just not responding to new people at all.
Turns out I was just being impatient. They did get back to me; it just took a week. I'm going through the paperwork now.

The credit cards that I closed a couple years ago were through HSBC, and they don't accept HSBC cards, so there's no point in trying to re-activate those. My Lowe's card lets authorized users be added with only a name and no other identifying information, so there's no way for that to show up on an AU's credit report, so it's worthless for this.
Based on this thread I added my early 20s aged kids to my Chase card as AU but they didn't ask for anything besides name and address--no SSN.  Does this mean it won't help their credit score going forward?

you could also sign them up for credit karma and see if it posts
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: happy on August 12, 2016, 06:38:39 PM
following
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Roland of Gilead on August 12, 2016, 09:11:47 PM
This is a very gray area and not something I would do, but damn, we have five CC each with $20k to $55k limit, a 815 credit score, and the youngest card is 11 years old.

I just don't like violating TOS if I can help it.   I try not to violate the TOS of the MMM forum, which I would hope Arebelspy appreciates.

But we are controlling our income massively to get super cheap ACA healthcare insurance, which really is pretty damn gray too, so I will not cast stones here.  Heck, I even considered getting a mailing address in a more rural part of our state because the subsidy there is $200 more a month for the same exact plan we have.

Neat though that you could technically retire on just selling tradelines lol.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on August 13, 2016, 04:15:34 AM
What this company told me is "We specifically need SSN, DOB, or address to post correctly." With the address on there it should work, but I don't think there are any guarantees. Your kids can check their credit report to confirm.

I have been a member for a few months now, and the company sent out an email in June with the following protocols for adding users:

Online

Bank of America – name, SSN, birthdate, address

Barclaycard – name, SSN, birthdate, address

Chase – name, address

Capital One - name, SSN, birthdate, address

Discover – name, SSN, birthdate, address

Fidelity Bank – name, SSN, birthdate

PNC Bank – name, SSN, birthdate

Synchrony - name, address

Worlds Foremost Bank - name, birthdate


Phone ONLY

BBVA Compass - name, birthdate

Citi Cards – name, SSN

USAA – name, SSN, birthdate (please refer to USAA Additional Requirements pdf)

U.S. Bank – name, SSN, birthdate

Wells Fargo  - name, birthdate
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: purple monkey on August 13, 2016, 12:18:35 PM
I want to do this.
I do not know all the outstanding cards that are in my and partner's name.
Do I get a credit report?
No face punches.
TIA
PM
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 13, 2016, 02:09:26 PM
I just don't like violating TOS if I can help it.   I try not to violate the TOS of the MMM forum, which I would hope Arebelspy appreciates.

Definitely!  :D  Though you certainly could, if you were willing to put up with the consequences (some warnings, temporary, and then eventual permanent bans).  Plenty have/do.  ;)

Quote
But we are controlling our income massively to get super cheap ACA healthcare insurance, which really is pretty damn gray too, so I will not cast stones here.  Heck, I even considered getting a mailing address in a more rural part of our state because the subsidy there is $200 more a month for the same exact plan we have.

Neat though that you could technically retire on just selling tradelines lol.

Hah, yeah.  Though I wouldn't count on this to FIRE on--just some extra bonus money to lower your WR temporarily or boost you to FI quicker.  :)

I want to do this.
I do not know all the outstanding cards that are in my and partner's name.
Do I get a credit report?

Sign up for Credit Karma, and what cards are listed on your credit report.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: SomedayStache on August 15, 2016, 10:49:07 AM
Posting to follow and to publicly lament the great Personal Finance Cleanup I did 2 years ago when I closed out a bunch of rarely used cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 15, 2016, 08:12:20 PM
Posting to follow and to publicly lament the great Personal Finance Cleanup I did 2 years ago when I closed out a bunch of rarely used cards.

As mentioned earlier in the thread - call up and try to reopen them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on August 15, 2016, 10:17:38 PM
I'm all set up for two cards - chase and bofa,$306 and $400 respectively. I was warned however that the bofa might not appeal to people with the recent reporting issues.

Thanks ARS! I'll keep u posted.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Slow2FIRE on August 16, 2016, 12:37:11 AM
Intriguing idea; I had never heard of this before. I got a referral from arebelspy and sent an email to the company he recommended.

Unfortunately I pared down my open accounts a few years ago, and closed the oldest ones with the highest credit limits because I wasn't using them. Now I only have one eligible account for certain, maybe two if I get a credit line increase, and they're both Chase cards. I also have a Lowe's store card; I asked the company if that can be used (authorized users have to be added by phone or mail, so that would be a bit more trouble.)

You may be able to re-open the closed credit lines.

Give the banks a call. If the first person says no, thank them, hang up and call again to get someone else.

Nice information - Citibank closed down an old credit card of mine that I have for a little over 15 years with a $30K limit.  I just hadn't thought about using it.  Now I know I can try to get it re-opened and hopefully resurrect my oldest account.

Also, the AU idea for boosting your family member's credit is great!  I never read up on that before and it is a great solution when someone asks you to co-sign on something (no, I can't co-sign, but I can do something else that will boost your credit).  Just added my teens to a couple credit cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: SomedayStache on August 16, 2016, 06:59:04 AM
Also, the AU idea for boosting your family member's credit is great!  I never read up on that before and it is a great solution when someone asks you to co-sign on something (no, I can't co-sign, but I can do something else that will boost your credit).  Just added my teens to a couple credit cards.

Yes indeed!  This is one aspect of personal finance that I didn't understand until reading through this thread.  My brother could use help in this department and I didn't realize there was a painless way to help him out until now.

Now I have to figure out if the AU limits that ARebelSpy posted earlier in the thread will include the real authorized users + the tradelines AUs.  So if my husband and brother are an AU on a card, does that knock out two AU spots from being tradelines eligible?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on August 16, 2016, 07:09:28 AM

Nice information - Citibank closed down an old credit card of mine that I have for a little over 15 years with a $30K limit.  I just hadn't thought about using it.  Now I know I can try to get it re-opened and hopefully resurrect my oldest account.


How long ago did they close it?  As a data point, they closed my Citi Forward card due to inactivity about a month ago.  I called about two weeks ago and asked them to reopen.  I finally got confirmation yesterday that the account was reopened, and it appears that the original account age is intact.  Good, because that was my oldest card by a few years.

I am not sure if they did a hard pull, I will try to find out.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 16, 2016, 08:59:36 AM
How long ago did they close it?  As a data point, they closed my Citi Forward card due to inactivity about a month ago.  I called about two weeks ago and asked them to reopen.  I finally got confirmation yesterday that the account was reopened, and it appears that the original account age is intact.  Good, because that was my oldest card by a few years.

I am not sure if they did a hard pull, I will try to find out.

Interesting... maybe I need to be more aggressive about reopening one they closed on me a few months back.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on August 16, 2016, 09:00:24 AM
Now I have to figure out if the AU limits that ARebelSpy posted earlier in the thread will include the real authorized users + the tradelines AUs.  So if my husband and brother are an AU on a card, does that knock out two AU spots from being tradelines eligible?

Yes, it does.

Although you could just not tell the company, and then they wouldn't know.  But they really have set the limits to protect you from having your CL closed; if you didn't tell them about the two family AUs then you'd be taking on more risk than they would recommend.

In my case I had my three kids as AUs on my oldest and largest line for several years.  I canceled those AU cards in order to do this.  I figure I can always stop this activity and re-add my kids at any time if I think it is important to do so.  All I need is about two month's notice to change directions, and I can't imagine any scenario where my kids will be that urgently desperate for credit that I would want to support in that way.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 18, 2016, 02:19:26 AM
Now I have to figure out if the AU limits that ARebelSpy posted earlier in the thread will include the real authorized users + the tradelines AUs.  So if my husband and brother are an AU on a card, does that knock out two AU spots from being tradelines eligible?

Yes, it does.

Although you could just not tell the company, and then they wouldn't know.  But they really have set the limits to protect you from having your CL closed; if you didn't tell them about the two family AUs then you'd be taking on more risk than they would recommend.

In my case I had my three kids as AUs on my oldest and largest line for several years.  I canceled those AU cards in order to do this.  I figure I can always stop this activity and re-add my kids at any time if I think it is important to do so.  All I need is about two month's notice to change directions, and I can't imagine any scenario where my kids will be that urgently desperate for credit that I would want to support in that way.

That's a smart way to do it.  Credit history has no "memory" on how long the person has been an AU, so you don't need to keep the kids on as an AU, only when they need the credit.  As soon as you add them back as an AU, it boosts their score as soon as it posts (so within a month).  There's no "ding" for it only having been just added--it should be the same as if they had been an AU on there the whole time.  The obvious potential drawback is if your card gets shut down, and then you kid needs a credit bump--hopefully you have other cards not eligible for this program (or enrolled, but not shut down) that you can add them to, in that case.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 18, 2016, 02:20:52 AM
Two major updates about the company I recommend.

First, regarding the slow response times discussed earlier in the thread, and them temporarily not accepting new signups: They've been working on a new back end system to more quickly and accurately verify all of the information of the people purchasing the tradelines (the AUs), which is a lot of their workload.

Them improving this has a double benefit for us who sell the tradelines of getting quicker response times when we have a question, as well as extra protection for us selling the tradelines from people using fraudulent information, which can lead to shut downs.  Less shut downs, and quicker responses are both good news!

This may take a bit to roll out as they have the new system in place, but we should see the benefits soon.  They are back to accepting signups now.

Second, they've trimmed down the cards they accept. They are now using the following credit cards:
Barclay
Citi
Discover
PNC
USAA
US Bank

Other cards tend to either have lower posting ratios (e.g. you will add the user, it won't post correctly, and you don't get paid--see, for example, the comments on B of A earlier in the thread, and my June payment info), higher rates of shut downs (see, for example, the Chase information posted in this thread), and require a lot of additional work on the back end to try to get them to post.

The cards from the above 6 providers tend to reliably post (so you get paid!), not get shut down (so you can continue selling tradelines!), both good things.

So good news, if you have one of those cards.  Bad news, of course, if you don't have one of them.

If you previously enrolled cards from other providers, they will continue to support them, they are just not enrolling any new cards from any providers except the above 6 (Barclay, Citi, Discover, PNC, USAA, US Bank).

As before, the cards opened with that provider must be at least two years old, with at least a $10,000 credit limit.  If you have cards that qualify and are interested in which company I use, send me a PM.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on August 18, 2016, 06:01:24 AM
It is kind of a relief to me that they no longer accept Chase cards.  I was tempted to use them, but it seemed so risky when they could shut down all of your cards.  They've been the best company for churning, so I really didn't want to risk getting blacklisted by them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on August 18, 2016, 06:39:33 AM
It is kind of a relief to me that they no longer accept Chase cards.  I was tempted to use them, but it seemed so risky when they could shut down all of your cards.  They've been the best company for churning, so I really didn't want to risk getting blacklisted by them.

wait - Chase shuts down all of your cards? Not just the one you put AUs on?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: corcoran on August 18, 2016, 08:27:36 AM
Two major updates about the company I recommend.
...[quote truncated]

Thanks for the update ARS, I'll keep an eye out here in case things change.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Enough on August 18, 2016, 08:42:59 AM
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 18, 2016, 09:08:51 AM
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

its a slow season.  you will likely get at least one sign up right before your closing dates. if they have passed you'll be waiting til its right before them again.  sept - may is higher season ...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on August 18, 2016, 09:17:37 AM
Nothing yet for me but I only started with 1 card.  Hoping for an order this month, nothing last month.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Frs1661 on August 18, 2016, 09:49:49 AM
No orders in August for me either.  Hopefully they bump up their marketing to balance demand with all this new found supply!

I may move some limits around to get over the 20k threshold before the busy season comes around.

Sent from my XT1575 using Tapatalk

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: bhleigh on August 18, 2016, 10:54:16 AM

Second, they've trimmed down the cards they accept. They are now using the following credit cards:
Barclay
Citi
Discover
PNC
USAA
US Bank


Thanks for the update. I sent you a PM.

Does anyone have an other trade-in company they could recommend as well? Thanks!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on August 18, 2016, 12:23:50 PM
I was able to get my Chase card enrolled a few weeks ago, as it's the only one I currently have that meets the requirements. My statement just posted and I did not receive any orders. As with a lot of other areas in our economy, August is a slow month, so I wasn't expecting much.

If you're a true churner, you probably would realize that Chase is losing valuable to hardcore churners because of 5/24. Although there are a few cards that are still available outside of that (Marriotts, etc.) there are very few that one can get. I doubt that I will be under 5/24 for the near to medium future, so I really don't value Chase as much as I used to.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 18, 2016, 02:33:42 PM
It is kind of a relief to me that they no longer accept Chase cards.  I was tempted to use them, but it seemed so risky when they could shut down all of your cards.  They've been the best company for churning, so I really didn't want to risk getting blacklisted by them.

wait - Chase shuts down all of your cards? Not just the one you put AUs on?

Yes.  Chase is the riskiest.  From the OP:
Quote
In a worst-case scenario, the credit card company may shut down other lines and accounts you have with them besides that one card, and/or refuse to issue you new cards.  Chase is the only one I'm aware of that does this, so be careful with them, but the other companies, if they shut your card down (which is rare) will likely only shut down that one single card, not any other accounts with them, nor refuse to issue you any new credit.

Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

My orders are much less this month than the previous two also.  It has nothing to do with the extra Mustachians, just it being a slow season--there were much less orders placed, so even if no new Mustachians signed up, orders would have been very low.  This is part of why they didn't want new signups--people getting frustrated they aren't getting orders.  Give it a few months to normalize.  I'm not doing any projections or estimates until probably six months in, so I'll see some of the slow season, and some of the busier. :)

If you're a true churner, you probably would realize that Chase is losing valuable to hardcore churners because of 5/24. Although there are a few cards that are still available outside of that (Marriotts, etc.) there are very few that one can get. I doubt that I will be under 5/24 for the near to medium future, so I really don't value Chase as much as I used to.

Yeah, that's a good point, and may be why I start using Chase to add AUs again.  Also, as long as you're mitigating it (keeping the number of AUs low, keeping them on for months at a time--e.g. two AUs, you keep them on for 3+ months, etc.), it helps reduce the risk of cancellation.  Some CC companies you can have 5 tradelines, add them all, remove them a month later, rinse, and repeat.  With Chase, that'll get you shut down pretty quick, so reducing the number of AUs and the length of time you "churn" the AUs will help.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on August 18, 2016, 09:47:28 PM
I was approved for my 2001 BofA card and my 1996 Chase Freedom card. When the market picks up again, I'll do no more than two trade-lines on Chase for a duration of 3-4 months to be safe. If they shut it down it's not the end of the world. For BofA, I'll take on one tradeline and see if they report.

We just moved to a higher COL area. I like the idea of these tradelines giving us a little margin on our monthly spending. 

Only if I'd opened that Barclays card 2 years ago for 40k or 50k reward points. I'm regretting having closed that Discover card back in 1998.  Actually - I regretted that in 1998.  Closing the Discover card was how I learned just how much history counts toward credit score. No one had ever taught me that - and I'd thought I was pretty financially savvy.

It makes me angry at the US school system. Basic financial literacy is one of the most important subjects to learn for life. But I suppose if people are financially illiterate, credit card companies and the like make more money. So they've got that going for them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 19, 2016, 04:25:34 PM
We just moved to a higher COL area. I like the idea of these tradelines giving us a little margin on our monthly spending. 

Yeah, it's definitely helping provide a cushion for us right now.  Just wrote 12k in checks for our summer property taxes (ugh, that's around half our personal spending), even having just a few thousand coming in from this is nice.

Whether it's decreasing someone's time to FIRE or reducing the SWR while in FIRE, if you have some of these cards, and are okay with the risk of getting them shut down, it's a pretty sweet gig, time-wise.  Will take it while it lasts.  :)

Quote
It makes me angry at the US school system. Basic financial literacy is one of the most important subjects to learn for life. But I suppose if people are financially illiterate, credit card companies and the like make more money. So they've got that going for them.

Sheesh, don't get me started.  The wife and I always did financial literacy lessons with our classes at the end of the year, after the state testing was over.  There really should be something systemic though.

We have a few random "personal finance" classes offered as electives, occasionally, but it's certainly not common.  I wonder... do other countries have financial literacy as part of the curriculum?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MonkeyJenga on August 19, 2016, 06:10:15 PM
Interesting. I may look into reopening a couple cards and switching them to no-fee versions. I also requested a limit increase on one card and will look into opening a few more even if there are no signup bonuses. Even if I need to wait 2 years, no harm in planning ahead.

Thanks for taking the time to write this out and answer all these questions, ars!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 20, 2016, 07:19:13 AM
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

It looks like I have 1 impending order (used the "click the check" trick to see what is up)

Card is 4+ years old, $15k.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 20, 2016, 02:53:49 PM
Has anyone that signed up recently gotten an order yet?  Going on a month without hearing anything on the 7yr $18k limit card and 3yr $16k limit cards I added.

It looks like I have 1 impending order (used the "click the check" trick to see what is up)

Card is 4+ years old, $15k.

We got 5 orders so far this month, much less than our average for the previous two months (and very low, based on the number of cards the wife and I have enrolled).  Another user who signed up PM'd me and said he got 2 orders.  So there are orders being placed, it's just a bit slow.  :)

Hopefully it'll pick up, but for me, even a few orders, or an order every month or two, is better than nothing.  And it does help ensure the card won't get cancelled, at the very least (small silver lining).

Right now I'd enroll cards, then see how it goes over the next 3-4 months--the holiday "shopping season" type time.  Judging it after only a few weeks during the slowest season may be a bit premature (just like if you signed up in a busy season, immediately sold out all tradelines, and then projected that to be the normal).  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: sirdoug007 on August 22, 2016, 10:31:18 AM
I just did all the paperwork to get started.  Looking forward to putting my old (2001) Discover card to good use! 

I've got to say I was pretty skeptical when this was first mentioned, but after looking into the details it looks legit and safe.  It seems that the types of cards that can be used have been seriously narrowed in a short time but I'll give it a go while it lasts.

It seems that Chase is really on to all the card hacking games.  I was recently denied a Southwest card for having too many new cards.  That would have netted me a companion pass too :(  Oh well, will just have to use the other cards that are a bit more lenient.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 22, 2016, 08:35:17 PM
As an FYI, added my first AU (phone, only option) - I'll be trying to get my Discover limit up again soon.

Side note: The notifications are REALLY irritating. I got 5 texts + 5 emails, then 2 hours later got 1 text + 1 email as a "Urgent: The closing date is approaching..."

Send me a single message (or email + text) Wait til tomorrow before sending reminders. I did not need a dozen messages.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on August 22, 2016, 10:29:48 PM
As an FYI, added my first AU (phone, only option) - I'll be trying to get my Discover limit up again soon.

Side note: The notifications are REALLY irritating. I got 5 texts + 5 emails, then 2 hours later got 1 text + 1 email as a "Urgent: The closing date is approaching..."

Send me a single message (or email + text) Wait til tomorrow before sending reminders. I did not need a dozen messages.

That's odd. For my first tradeline I received just a single email and text.  Maybe if you inquire that is something they can fix. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 23, 2016, 06:57:21 AM
Side note: The notifications are REALLY irritating. I got 5 texts + 5 emails, then 2 hours later got 1 text + 1 email as a "Urgent: The closing date is approaching..."

Send me a single message (or email + text) Wait til tomorrow before sending reminders. I did not need a dozen messages.

Heh, I think it was a glitch with their notification system--as thepokercab said, there's usually one text and one email (and then if you don't add them within a day or two, another one).

I did notice the same thing today though, I got 7 notifications on one order and 5 on another (and actually emailed about it, to let them know), but it's never been like that before, so no need to worry about getting bombarded with each order.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 23, 2016, 11:06:41 AM
It's quite variable - on cards that had 2-3 AUs in past months, I had 0 this month, as well as the opposite (cards that in the first 1-2 months had 0, I received 2-3). I haven't received an order since the beginning of the month, but I am looking forward to seeing what the non-slow season brings!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: redjag on August 24, 2016, 06:39:13 PM
I just got approved so I'm waiting for my first bite.  One thing I noticed that I hadn't thought of when reviewing the process for adding authorized users - am I going to be getting all their personal info including SSN?  That seems like a risky move, on their part.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on August 24, 2016, 06:48:17 PM
I just got approved so I'm waiting for my first bite.  One thing I noticed that I hadn't thought of when reviewing the process for adding authorized users - am I going to be getting all their personal info including SSN?  That seems like a risky move, on their part.

Yes, you will.  Part of the contract or agreement you signed says you won't use their personal information for nefarious purposes.  And although you could copy the information down, once you add them as an AU, your access to the information is removed.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on August 24, 2016, 08:09:44 PM
The statement closing date for my citi card has changed a day or two from one statement to the next. Does it matter that I get that date exactly right?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 24, 2016, 09:00:55 PM
The statement closing date for my citi card has changed a day or two from one statement to the next. Does it matter that I get that date exactly right?

They purposefully set the date a few days ahead of your statement close, for a buffer, but for all of my citi cards I just gave them the earliest day of the month that it could fall on (e.g. a card would close the 11th, 12th, or 13th, I gave them the 11th).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: enalynom on August 24, 2016, 09:44:02 PM

Second, they've trimmed down the cards they accept. They are now using the following credit cards:
Barclay
Citi
Discover
PNC
USAA
US Bank

I sent an email request to them a few weeks ago and then went on vacation before I got to do anything with it.  I was just reading through the FAQ that they sent me on 8/8.  It only lists 5 accepted banks.  It doesn't include PNC.  Can anyone confirm that PNC is currently allowed?  I sent them an email but figured I might get a faster answer here.

1. Barclaycard
2. Citi cards
3. Discover
4. USAA ​(check with us for additional instructions)
5. U.S. Bank 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 25, 2016, 01:13:50 AM
That seems like a risky move, on their part.

Hah, true.  At least it's not a risk for you.

And it's less risky when you consider the reason they're giving up their info (because they have bad credit--i.e. "stealing" their identity probably won't get you much).  There's a lot of ways to commit fraud, this isn't a good one.  ;)

Besides, why do something illegal (and for what payoff), when you can legally make tons of money with this?  :)

It definitely feels weird the first time you get their info (name, DOB, address, SSN, etc.).  Now I don't even notice, just cut and paste, cut and paste.  :)

Can anyone confirm that PNC is currently allowed?

I can confirm for you PNC works, but it is limited to 2 slots.  You should hear the same when you get a reply, and if I'm wrong, please update us, but my info is as of Aug 17.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: enalynom on August 25, 2016, 06:46:42 AM

Can anyone confirm that PNC is currently allowed?

I can confirm for you PNC works, but it is limited to 2 slots.  You should hear the same when you get a reply, and if I'm wrong, please update us, but my info is as of Aug 17.  :)

Thanks, I'll post an update when I hear from them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Kjmiller1984 on August 25, 2016, 09:01:59 AM
How many slots for a discover card?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 25, 2016, 11:23:49 AM
How many slots for a discover card?

5
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MonkeyJenga on August 25, 2016, 04:32:12 PM
I have two questions for the world at large.

If you reopen a card that has been closed for a year and was open for 3 months, will it show the reopened card as active for 3 months or 1 year and 3 months?

If I downgrade an annual fee card to a no fee version, will my history show the start date of the original card or the no fee change?

Thanks!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on August 25, 2016, 04:52:49 PM
I have two questions for the world at large.

If you reopen a card that has been closed for a year and was open for 3 months, will it show the reopened card as active for 3 months or 1 year and 3 months?

If I downgrade an annual fee card to a no fee version, will my history show the start date of the original card or the no fee change?

Thanks!

1 year and 3 months usually.

Start date of the original card usually.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on August 25, 2016, 04:53:15 PM
If I downgrade an annual fee card to a no fee version, will my history show the start date of the original card or the no fee change?

Should be original card, like you only had one card the whole time.
Don't know answer to other question.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MonkeyJenga on August 25, 2016, 05:00:43 PM
Thanks guys!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 25, 2016, 05:25:02 PM
Yup, unless the account itself changes (not just the card type), it should all be based off the original open date (even if downgrading or reopening).

Let us know if you have success getting cards reopened, MJ.  I'm quite curious about the rate people have success reopening cards (especially based on the reason they were closed, and how long they'd been closed).  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: enalynom on August 26, 2016, 02:16:40 PM

Can anyone confirm that PNC is currently allowed?

I can confirm for you PNC works, but it is limited to 2 slots.  You should hear the same when you get a reply, and if I'm wrong, please update us, but my info is as of Aug 17.  :)

Thanks, I'll post an update when I hear from them.

I just heard back from them, they do accept PNC.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 26, 2016, 07:21:36 PM
Cool, thanks for the follow-up. :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 26, 2016, 07:40:44 PM
Just to be sure PNC works. It wasn't clear the first 6 times. Can someone confirm PNC works


Does PNC work.

I'm not sure does it
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 26, 2016, 07:41:46 PM
Heh. Never hurts to be sure, especially when you have directly conflicting information. :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on August 27, 2016, 07:02:52 AM
I'm curious how this works for the AU.  When does the new account show on their report?  Is it when the card's statement closes?
Title: what kind of activity are you getting?
Post by: JasonDetwiler on August 27, 2016, 07:21:46 AM
Those of you who are enrolled, what kind of activity are you getting? I've been in it a month and a half and only one TL sold. They say the summer is slower, but do you ever get a lot of action?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on August 27, 2016, 04:54:50 PM
I've been thinking about this. I also work at a bank. The biggest risk I see (practically, and not considering the ethics) is the trade line's owner being tied to someone who has their loan go belly up down the road. For example, someone wants to get a mortgage and uses your credit. People also need to rely on personal credit for commercial loans, which can range in the millions of dollars. The AU game inflates their score from 650 to 750. They qualify based on that. They later go broke and someone does some digging and notices that person was attached to another account. The lending institution sues you because it caused them to grant a loan when they normally wouldn't. It's a little far fetched, but seems in the realm. Probably very unlikely to happen, nonetheless.

The essential question that would be nice to know is: when the bank or whoever pulls a credit report, is the trade line owner's information also attached to the account? Is it just the card number or only part of the card number? You could obviously trace with a full card number. I just wonder if the company utilizing the information would be able to tie that back to someone. Even assuming that "worst case" scenario, it's hard to imagine how a lawsuit could be developed "with the intent to defraud" from a trade line seller. Of course I'm filling out my paperwork now so maybe I'm biased.

I need to remember to look at a credit report this week and see if there's any identifiable information on it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 27, 2016, 06:00:31 PM
I'm curious how this works for the AU.  When does the new account show on their report?  Is it when the card's statement closes?

Yes, after the statement closes.

Those of you who are enrolled, what kind of activity are you getting? I've been in it a month and a half and only one TL sold. They say the summer is slower, but do you ever get a lot of action?

See (lots of) earlier discussion in the thread on this.  :)  One tradeline of your two available slots isn't bad (remember, you'll only see orders right before the closing date, as they queue them up), unless you enrolled 10 cards or something.

Yes, it will pick up.  Give it a few months to evaluate, and (either way), keep in mind the amount of work, even if you only make a few extra thousand this year, hard to complain--most side-gigs don't make that, and take way more time.  :)

I've been thinking about this. I also work at a bank. The biggest risk I see (practically, and not considering the ethics) is the trade line's owner being tied to someone who has their loan go belly up down the road. For example, someone wants to get a mortgage and uses your credit. People also need to rely on personal credit for commercial loans, which can range in the millions of dollars. The AU game inflates their score from 650 to 750. They qualify based on that. They later go broke and someone does some digging and notices that person was attached to another account. The lending institution sues you because it caused them to grant a loan when they normally wouldn't. It's a little far fetched, but seems in the realm. Probably very unlikely to happen, nonetheless.

The essential question that would be nice to know is: when the bank or whoever pulls a credit report, is the trade line owner's information also attached to the account? Is it just the card number or only part of the card number? You could obviously trace with a full card number. I just wonder if the company utilizing the information would be able to tie that back to someone. Even assuming that "worst case" scenario, it's hard to imagine how a lawsuit could be developed "with the intent to defraud" from a trade line seller. Of course I'm filling out my paperwork now so maybe I'm biased.

I need to remember to look at a credit report this week and see if there's any identifiable information on it.

Yes, I see your point.  No, the entire account number is not listed on the credit report. The address can be.  There's no intent to defraud, IMO.  If they store credit reports, and they look back at it (I can't even imagine this part of the scenario as plausible), they'll see the person as an authorized user on a card.  What does that tell them?  They are an authorized user on that card, or legally were at the time the credit was pulled.  Maybe they'd have a case arguing FICO scores (that allowed a boost via an AU) are misleading, but again, don't see how that'd affect you.  IDK, it all seems like a crazy stretch to happen, and even if it happened, not worrisome to me.  Of course, like I mentioned before, everyone has their own levels of worry, and if this seems like something that's not only plausible to you, but makes sense if it happened, don't sell your tradelines.  :)

As a poor car analogy: I also wouldn't have a problem renting out my car to people. Someone might say "a bank robber is more likely to rent a car than use their own, so what if you get arrested for facilitating bank robbery?"  I would say that 1) It's super unlikely to happen (that one of the people renting my car for a day robs a bank), and 2) Even if it did, I had no intent to rob banks, or know about their plans to do so.

So in the super unlikely event it did happen (fraud), and someone looked at me, I have no intent or connection to that crime other than incidental.  YMMV, but that's how I view it.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on August 27, 2016, 07:15:20 PM
I'm curious how this works for the AU.  When does the new account show on their report?  Is it when the card's statement closes?

Yes, after the statement closes.


Thanks ARS!  I was curious because I added myself to a card of my wife's to complete some spend and it took quite a while to show up on my credit report.  Given that reporting takes 30 days and statements take ~30 days, I suppose it makes sense.  Just got me thinking about how all of this works..

A few folks have asked about activity.  I received my first order last night.  I signed up end of July, so I think that's pretty good!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: NathanDrake on August 27, 2016, 09:54:17 PM
Yes, I see your point.  No, the entire account number is not listed on the credit report. The address can be.  There's no intent to defraud, IMO. If they store credit reports, and they look back at it (I can't even imagine this part of the scenario as plausible), they'll see the person as an authorized user on a card.  What does that tell them?  They are an authorized user on that card, or legally were at the time the credit was pulled.  Maybe they'd have a case arguing FICO scores (that allowed a boost via an AU) are misleading, but again, don't see how that'd affect you.  IDK, it all seems like a crazy stretch to happen, and even if it happened, not worrisome to me.  Of course, like I mentioned before, everyone has their own levels of worry, and if this seems like something that's not only plausible to you, but makes sense if it happened, don't sell your tradelines.  :)

As a poor car analogy: I also wouldn't have a problem renting out my car to people. Someone might say "a bank robber is more likely to rent a car than use their own, so what if you get arrested for facilitating bank robbery?"  I would say that 1) It's super unlikely to happen (that one of the people renting my car for a day robs a bank), and 2) Even if it did, I had no intent to rob banks, or know about their plans to do so.

So in the super unlikely event it did happen (fraud), and someone looked at me, I have no intent or connection to that crime other than incidental.  YMMV, but that's how I view it.  :)

How is there no intent to defraud?

On a fundamental level, there's little difference between this and much of the fraudulent activities that went on during the 2008 financial crisis. By virtue of you helping someone artificially boost their credit score, you are effectively deceiving lenders that set terms based upon risk profiles. Pricing of risk costs money, and by allowing someone to deceive a lender you are illegally obtaining (or reducing income) from that lender via deception. That's the definition of defraud.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 28, 2016, 08:41:49 AM
It's not an artificial boost of credit score. The banks explicitly wanted the Authorized User method left in the FICO scoring.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FrugalSaver on August 28, 2016, 05:27:59 PM
I've got a discover card from 1997 with an upper limit of $7,000

I called and asked them to raise it and they bumped it all the way to $7,500

I haven't used this card in a while and have a credit score over 815

1) is it of any use for this at only $7,500?

2) if I haven't used it in a couple of years, does it help to start using it again?  It shows up on my credit report

3) can I raise the limit over time and if so, how long would y'all think that will take me?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 28, 2016, 05:39:06 PM
I've got a discover card from 1997 with an upper limit of $7,000

I called and asked them to raise it and they bumped it all the way to $7,500

I haven't used this card in a while and have a credit score over 815

1) is it of any use for this at only $7,500?

2) if I haven't used it in a couple of years, does it help to start using it again?  It shows up on my credit report

3) can I raise the limit over time and if so, how long would y'all think that will take me?

I'm in the same boat with Discover, though I started much lower and ended up slightly lower. I suggest starting to use the card more. Current rotating category is Amazon & Home Improvement.

If the card isn't getting used, Discover doesn't have much reason to raise your limit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HAPPYINAZ on August 28, 2016, 05:42:08 PM
Yup, unless the account itself changes (not just the card type), it should all be based off the original open date (even if downgrading or reopening).

Let us know if you have success getting cards reopened, MJ.  I'm quite curious about the rate people have success reopening cards (especially based on the reason they were closed, and how long they'd been closed).  :)

regarding reopening cards....I called barclay to try and reopen a card that I had closed several years ago.  No luck...she said "let me see if I can reopen that for you" and then came back and said it wasn't possible to reopen it.  Perhaps because it was a US Airways card through Barclay and US Airways merged with American Airlines. And American Airlines cards are now issued through Citi I believe.  Anyway, that's been my experience with trying to reopen an old credit card. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 28, 2016, 05:46:47 PM
I've got a discover card from 1997 with an upper limit of $7,000

I called and asked them to raise it and they bumped it all the way to $7,500

I haven't used this card in a while and have a credit score over 815

1) is it of any use for this at only $7,500?

2) if I haven't used it in a couple of years, does it help to start using it again?  It shows up on my credit report

3) can I raise the limit over time and if so, how long would y'all think that will take me?

Heh, a $500 bump, that's a bummer.  :)

As far as question 1, no, for tradeline sales, it needs to be at least 10k limit--below that just doesn't help the AU enough.  For two, definitely.. use it for a few months, then ask for another bump.

Yup, unless the account itself changes (not just the card type), it should all be based off the original open date (even if downgrading or reopening).

Let us know if you have success getting cards reopened, MJ.  I'm quite curious about the rate people have success reopening cards (especially based on the reason they were closed, and how long they'd been closed).  :)

regarding reopening cards....I called barclay to try and reopen a card that I had closed several years ago.  No luck...she said "let me see if I can reopen that for you" and then came back and said it wasn't possible to reopen it.  Perhaps because it was a US Airways card through Barclay and US Airways merged with American Airlines. And American Airlines cards are now issued through Citi I believe.  Anyway, that's been my experience with trying to reopen an old credit card. 

Good to know.  She at least tried, so that indicates to me that it could be possible to open cards that had been closed for awhile (it wasn't like she immediately said "oh, that's been closed longer than 6 months, can't do it" or something).  I have the US Airways card, which converted to a American Airlines card, wouldn't surprise me if your reasoning is correct (can't reopen because that card doesn't exist anymore).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FrugalSaver on August 28, 2016, 05:54:34 PM
Yeah I had to laugh at the $500 bump. I was like that is for nothing. My chase card is $25,000

Is B of A usable ir did that issue never get resolved?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 28, 2016, 05:57:49 PM
Yeah I had to laugh at the $500 bump. I was like that is for nothing. My chase card is $25,000

Someone mentioned earlier in the thread applying for a new card with a provider and then transferring the credit off of it.  I'm planning to do this--CCs apparently only want to bump me a few thousand, but will issue me new credit for 15-20k (sometimes 30k+!).  So for a Discover I have at 12k IIRC (that they bumped up from 10), I'm thinking I might sign up for a new card that should get at least 10-15k limit, then move most of that credit onto the older card.  Worth thinking about.

Quote
Is B of A usable ir did that issue never get resolved?

They are not accepting new B of A cards right now.. I'm not sure if the posting issue got resolved with the cards already enrolled--I don't believe so, and I don't think many B of A slots are selling right now (a bummer for me--we have 3, two at 20k+, one at 45k+).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 28, 2016, 06:38:58 PM
Yeah I had to laugh at the $500 bump. I was like that is for nothing. My chase card is $25,000

Someone mentioned earlier in the thread applying for a new card with a provider and then transferring the credit off of it.  I'm planning to do this--CCs apparently only want to bump me a few thousand, but will issue me new credit for 15-20k (sometimes 30k+!).  So for a Discover I have at 12k IIRC (that they bumped up from 10), I'm thinking I might sign up for a new card that should get at least 10-15k limit, then move most of that credit onto the older card.  Worth thinking about.

I tried a few times with Discover to do that, under the theory of "try different CSRs" - they flat out refuse to move credit between cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 28, 2016, 08:45:10 PM
Yeah I had to laugh at the $500 bump. I was like that is for nothing. My chase card is $25,000

Someone mentioned earlier in the thread applying for a new card with a provider and then transferring the credit off of it.  I'm planning to do this--CCs apparently only want to bump me a few thousand, but will issue me new credit for 15-20k (sometimes 30k+!).  So for a Discover I have at 12k IIRC (that they bumped up from 10), I'm thinking I might sign up for a new card that should get at least 10-15k limit, then move most of that credit onto the older card.  Worth thinking about.

The last time I applied for a Discover card, at the time I already had an older Discover, and they called me before approving the new card to tell me that in order to open the new line, they had to close my old line. They seemed to only want to allow me to have a limited amount of credit with them, so I'm not sure if your plan will work. Maybe you'll have better luck getting a 2nd line approved than I did.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 28, 2016, 10:05:22 PM
I tried a few times with Discover to do that, under the theory of "try different CSRs" - they flat out refuse to move credit between cards.

The last time I applied for a Discover card, at the time I already had an older Discover, and they called me before approving the new card to tell me that in order to open the new line, they had to close my old line. They seemed to only want to allow me to have a limited amount of credit with them, so I'm not sure if your plan will work. Maybe you'll have better luck getting a 2nd line approved than I did.

Ah, really good to know.  Thanks guys.

I was going on this from earlier in the thread:

IDK which other companies do that.

All of the main ones (Chase, Citi, Discover, Capital One, etc.) reallocate.

So that's a no on that plan with Discover.  Will have to research into reallocation with Citi, Capital One, and Barclay (I know Chase and B of A do, because I did with them already).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FrugalSaver on August 28, 2016, 11:07:40 PM
What's the fear w chase?  I have one 2 years old w $25k
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 28, 2016, 11:54:20 PM
What's the fear w chase?  I have one 2 years old w $25k

If Chase decides to shut you down, they shut down all your accounts with them, and won't let you open new ones; they basically blackball you.  I don't know if this is permanent, or if they'll reconsider after a year or two, but I wouldn't want to try and find out.  :)

The other CC companies, if they decide to shut you down, will only close that one card.  No big deal.

To me, not worth the risk, at the moment, though I'm still considering.  I have 400k+ Ultimate rewards points sitting unused (and we'll likely each grab the new Chase Sapphire Reserve card, for another 200k points)--if I use all those up, and go way past the 5/24 rule so I won't be getting more Chase cards for at least a few years, I'd probably start to sell some Chase tradelines again.  It is worth a good chunk of cash.  The tradeline company has more Chase safeguards in place to help prevent shutdown (only 2 AU slots max, and sell the lines for 3 months instead of 1 or 2) for previously enrolled cards, but they aren't accepting new Chase cards at the moment, from what I understand.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on August 29, 2016, 03:15:21 AM
I just added my first authorized user. It's to our Bank of America cc. I realize it might not report out properly, but I figure it's worth a try for approx 3 minutes of work. We'll see how it goes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 29, 2016, 03:17:15 AM
I just added my first authorized user. It's to our Bank of America cc. I realize it might not report out properly, but I figure it's worth a try for approx 3 minutes of work. We'll see how it goes.

I haven't gotten any B of A orders in awhile, so I wasn't sure if they were still doing them, but if you just got a new order, apparently they are.  That's good news.  :)

The worst part is waiting a month to see if everything posts correctly (from what I understand, it does 90%+ of the time, so no need to worry, but just the first few months you do it, you're curious).  ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on August 29, 2016, 04:51:56 AM
I'm considering adding my capital one card to the mix. my cards all seem to be the kind with limits as to # of users or extended periods of time for each trade line. Remedy: add another card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 29, 2016, 06:08:51 AM
all my orders are BofA just got first add on my second card.  still nothing on chase but i'm ok with taht as i dont know if i want those accounts closed.  that chase card will likely be removed when i add my citi cards this winter.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Smokystache on August 29, 2016, 09:21:16 AM
I tried a few times with Discover to do that, under the theory of "try different CSRs" - they flat out refuse to move credit between cards.

The last time I applied for a Discover card, at the time I already had an older Discover, and they called me before approving the new card to tell me that in order to open the new line, they had to close my old line. They seemed to only want to allow me to have a limited amount of credit with them, so I'm not sure if your plan will work. Maybe you'll have better luck getting a 2nd line approved than I did.

Ah, really good to know.  Thanks guys.

I was going on this from earlier in the thread:

IDK which other companies do that.

All of the main ones (Chase, Citi, Discover, Capital One, etc.) reallocate.

So that's a no on that plan with Discover.  Will have to research into reallocation with Citi, Capital One, and Barclay (I know Chase and B of A do, because I did with them already).

Contacted Citi to see if they would reallocate. Customer service operator said, "no." There are a few nonMMM threads out there that suggest it is possible if you go to their supervisor's supervisor - but those threads are at least 3 years old. I recently requested a limit increase from them (and was rejected; 2 cards Citi cards sitting at $9k - argh.), so I didn't push it. But will probably try again in a month.

Would love to hear if someone finds out a way to have Citi reallocate credit limits from other Citi cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Parkingmeter on August 29, 2016, 11:51:22 AM
I've reallocated with Citi but I believe it requires a hard pull.  I managed this by doing it the same day as signing up for a new cc with them and the hard pulls merged.

Generally for stuff like this I search Doc's website: http://www.doctorofcredit.com/rules-for-reallocating-your-credit-limit-with-each-credit-card-issuer/

On mobile, apologies for poor formatting.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on August 29, 2016, 12:00:08 PM
Apparently US Bank does not have one close date per month on their lines, so I gave the next several through December which the customer service person could provide. I hope they can still use that one or I'll only have my Discover to use for this. Anyone use US Bank yet?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on August 29, 2016, 01:04:06 PM
Requesting a credit limit increase with USAA will result in a hard pull.  FYI.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 29, 2016, 02:33:02 PM
have 3 adds of a total possible of 6 in the first 2 months.  not too bad ... considering its 700 free dollars. (minus taxes)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: slackmax on August 29, 2016, 04:45:33 PM
Money for nothin' and your chicks for free.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on August 29, 2016, 04:49:24 PM
Apparently US Bank does not have one close date per month on their lines, so I gave the next several through December which the customer service person could provide. I hope they can still use that one or I'll only have my Discover to use for this. Anyone use US Bank yet?

Yes, and they set the "close" date early due to the variation in US Bank. I successfully got my first order and added the AU last week.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 30, 2016, 05:57:32 AM
hey ARS when you're on a two month system like BofA do you get paid after it posts the first month or do you have to wait til closer to removal.  ie i had an add on july 31 for a close date of aug 4 ... now sept 4 close will hit and it says i can remove them on october 1 when do i get paid.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on August 30, 2016, 07:10:05 AM
Interesting fact from an AU add today - Citi Sears card, they were happy to add AU with just name/birthday, and seemed surprised when I said I had a social security number for them. Before taking the social security number they had me verify the 3 digit code on the back of the card and the year I became a card member.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TheAnonOne on August 30, 2016, 11:14:42 AM
I had a Capital One Venture that is 3 years old with $26,000 added in late July. No sales yet... (closes on 26th)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on August 30, 2016, 12:35:46 PM
Just curious- are anyone getting tradeline orders for cards that are relatively new (i.e. less than three years)

I've made three credit cards available- two of which are a little over two years old, and one of which is 8 years old.  The eight year old card got a tradeline order pretty quickly, but my other two haven't gotten any.  So, i'm guessing these two other cards I have aren't all that attractive to customers.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 30, 2016, 01:24:09 PM
have 3 adds of a total possible of 6 in the first 2 months.  not too bad ... considering its 700 free dollars. (minus taxes)

Nice.  I only count selling 50% of the tradelines in my projections (of course hoping for more).

hey ARS when you're on a two month system like BofA do you get paid after it posts the first month or do you have to wait til closer to removal.  ie i had an add on july 31 for a close date of aug 4 ... now sept 4 close will hit and it says i can remove them on october 1 when do i get paid.

They pay you the first month after it posts.  If it's on a longer cycle (2 months, 3 months for Chase), if you remove them at that point (i.e. early) they have to refund the client (who's paid for 2-3 months of the card on their credit report, and only got one month) and they will deduct the amount from your next paycheck.  So you do get the money right away once it's confirmed posted, but make sure not to remove the AU until the portal date says to, lest you owe it back.  :)

Interesting fact from an AU add today - Citi Sears card, they were happy to add AU with just name/birthday, and seemed surprised when I said I had a social security number for them. Before taking the social security number they had me verify the 3 digit code on the back of the card and the year I became a card member.

Weird.  From what I understand, with less info it's less likely to post to their credit report (not enough info on them to be able to do so, perhaps?), so giving them the extra info was a good idea--clearly they had a spot in their computer system to input that info, once you gave it to them.  Crossing my fingers it posts okay for you!

I had a Capital One Venture that is 3 years old with $26,000 added in late July. No sales yet... (closes on 26th)

I'm almost curious if cards with $10-20k sell more tradelines, as they cost the AUs less.  I had more sales on a few cards, then bumped them up to the 20k range, and haven't.  A bit premature to tell though, but something to monitor.  You get more for higher limit, obviously, but I'd rather get $225 and a more frequent sale than $252.50 and less frequent sales.  At this point, I won't be dropping any lines (and in fact, still trying to increase), but I'll keep an eye on it.  Thanks for the data point.  :)

Just curious- are anyone getting tradeline orders for cards that are relatively new (i.e. less than three years)

I've made three credit cards available- two of which are a little over two years old, and one of which is 8 years old.  The eight year old card got a tradeline order pretty quickly, but my other two haven't gotten any.  So, i'm guessing these two other cards I have aren't all that attractive to customers.

Yes.  The older cards get more activity, but I've had several orders on cards just over two years old (opened June 2014 and Aug 2014).  But my cards from 2003, 2006, etc. definitely see more activity, especially if in the same credit line range.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 30, 2016, 02:33:58 PM
my current thought on the 10-20k vs higher is that if you're towards the top of a level you're going to get more adds vs th bottom. 

ie my 19800 and 18800 cards are getting adds while my 20300 is not... would be interesting to see if the cards you're talking about were close to 30k or 20k.


nvm just got an AU add on my chase right after posting this.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: merula on August 30, 2016, 03:41:13 PM
I'm interested in signing up, but I only have one card that qualifies right now. I also have a Barclaycard that (according to my credit report) was opened in September of 2014. Is that "old enough" as of Sept 2016, or October?

Also, does it matter that I already have an authorized user (husband) on the account? Does that "eat" a spot?

Thanks everyone for all the great information
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 30, 2016, 03:44:44 PM
I'm interested in signing up, but I only have one card that qualifies right now. I also have a Barclaycard that (according to my credit report) was opened in September of 2014. Is that "old enough" as of Sept 2016, or October?

Also, does it matter that I already have an authorized user (husband) on the account? Does that "eat" a spot?

Yup, that will be old enough in two days.  Yes, your husband eats up an AU spot.  Let the tradeline company know (and probably remind if and when you increase the spots).  You may want to consider removing him, if there's no current reason for him to be on there.  You can always re-add him later, if you wish.  Or you can just have one less tradeline spot (but constantly have an extra user on there).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on August 31, 2016, 01:39:24 AM
I asked if I could add my 2009 Capital One card in, as they let me add my BofA and Chase under the wire recently. Sadly, I received this email from Leslie:

Quote
We have made changes to the cards we're currently accepting, which is now only:

1. Barclaycard
2. Citi cards
3. Discover
4. PNC (2 AUs max)
5. USAA
6. U.S. Bank


It's okay though, I'd added my three kids to that Cap One card as AUs. I'll just leave them there.

Yeah, I'm really kicking myself for closing that mid-90s discover card. Doh.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TheAnonOne on August 31, 2016, 09:15:52 AM
I asked if I could add my 2009 Capital One card in, as they let me add my BofA and Chase under the wire recently. Sadly, I received this email from Leslie:

Quote
We have made changes to the cards we're currently accepting, which is now only:

1. Barclaycard
2. Citi cards
3. Discover
4. PNC (2 AUs max)
5. USAA
6. U.S. Bank


It's okay though, I'd added my three kids to that Cap One card as AUs. I'll just leave them there.

Yeah, I'm really kicking myself for closing that mid-90s discover card. Doh.

Hmm, but capital one cards that are currently in the system get to stay?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 31, 2016, 09:35:06 AM
yep if your card is in the system it gets to stay. unless they see a bunch of cards getting closed then they may just tell the investors its best not to use unless you want to get it closed. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Richie Poor on August 31, 2016, 10:02:50 AM
Regarding Discover card limits....applying for a new card to transfer the credit line is a no go. I think it was said up-thread but I can confirm it.

Regarding re-opening a Citi card....Mine closed 4 months ago due to inactivity. I tried to reopen it last week and was told they cannot re-open it after 30 days.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TheAnonOne on August 31, 2016, 11:08:14 AM
yep if your card is in the system it gets to stay. unless they see a bunch of cards getting closed then they may just tell the investors its best not to use unless you want to get it closed.

Are capital one's getting closed at an unusually high rate? They only allow 2 AUs already...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on August 31, 2016, 11:51:08 AM
yep if your card is in the system it gets to stay. unless they see a bunch of cards getting closed then they may just tell the investors its best not to use unless you want to get it closed.

Are capital one's getting closed at an unusually high rate? They only allow 2 AUs already...

no idea. you obviously could try a different place than the one we use. they could just be overloaded with them or not wanting to mess with the hassle
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on August 31, 2016, 03:57:05 PM
Regarding Discover card limits....applying for a new card to transfer the credit line is a no go. I think it was said up-thread but I can confirm it.

Regarding re-opening a Citi card....Mine closed 4 months ago due to inactivity. I tried to reopen it last week and was told they cannot re-open it after 30 days.

Both good to know. Thanks!

Are capital one's getting closed at an unusually high rate? They only allow 2 AUs already...

Historically some cards (Cap One, Chase, B of A, etc.) have had higher rates of closure, thus why they're capped.  They've also, for now, decided not to accept new ones of these, and just limit to ones in the system.  If you're worried about getting it closed, you can reduce the number of tradelines (reduce it further from their cap, I mean) or remove it, but I don't think they're currently getting closed at a higher rate than normal, those have just historically been an issue.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: erutio on August 31, 2016, 10:13:12 PM
Interesting, following.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: oneday on August 31, 2016, 10:46:49 PM
I asked Discover to increase my credit limit over $10K.  I got $9,500.  This is on a 15 year old card, so it would be pretty attractive to the customers, I think.  How long should I wait to call back before requesting another increase?  And also, if I remove Mr. O as an AU now, would that be suspicious?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 01, 2016, 02:41:42 AM
I asked Discover to increase my credit limit over $10K.  I got $9,500.  This is on a 15 year old card, so it would be pretty attractive to the customers, I think.  How long should I wait to call back before requesting another increase?  And also, if I remove Mr. O as an AU now, would that be suspicious?
I'd try again, and if you can't get the last $500, use the card a bit before you try again. Removing him now is fine (probably better than later, actually, but it shouldn't matter).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 01, 2016, 08:48:56 AM
Did anyone receive the monthly summary email yesterday? I got one at the end of July, but I haven't received one yet for August. I'm curious to see it, because the pay stub I received yesterday is for higher than I was expecting.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dpfromva on September 01, 2016, 08:54:23 AM
I'm not claiming as a business. I'm just claiming as misc income then you avoid the self employment tax. It's not hardly enough income to raise a flag imo. It's all free money why do you care about withholding. You're on this site just save it and don't spend it.
See following article on what the IRS thinks about this: http://robergtaxsolutions.com/2013/12/getting-a-1099misc-when-youre-not-self-employed/
I personally would not do this. People with bad debt will take on more bad debt with this service. (But I'm more on the socialist than libertarian end of the spectrum.) Since I would be violating my contract with the credit card company, the contract is kaput, even if they don't catch it. Are credit card contracts designed to make the issuer lots o' money? You bet. Do I sign contracts with the intent to comply with the terms? Yes to that too. However, business practices do not equal religious or philosophical codes of conduct, so to each his own to sort that out.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 01, 2016, 11:10:29 AM
Did anyone receive the monthly summary email yesterday? I got one at the end of July, but I haven't received one yet for August. I'm curious to see it, because the pay stub I received yesterday is for higher than I was expecting.
I didn't initially either (I received the paystub first), but I did just receive it.

My bet is it was delayed a day because the person who usually does customer support is out, and the person who usually does the monthly breakdowns is covering for her right now.  But yes, mine was delayed, but I did end up getting it.

Sometimes you'll get ones from early in the next month confirmed posted, and get paid for them then (like getting paid early!) so that's likely why it's higher than expected--it'll obviously even out when the next month's paycheck doesn't have that order on it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 01, 2016, 11:17:44 AM
Did anyone receive the monthly summary email yesterday? I got one at the end of July, but I haven't received one yet for August. I'm curious to see it, because the pay stub I received yesterday is for higher than I was expecting.
I didn't initially either (I received the paystub first), but I did just receive it.

My bet is it was delayed a day because the person who usually does customer support is out, and the person who usually does the monthly breakdowns is covering for her right now.  But yes, mine was delayed, but I did end up getting it.

Sometimes you'll get ones from early in the next month confirmed posted, and get paid for them then (like getting paid early!) so that's likely why it's higher than expected--it'll obviously even out when the next month's paycheck doesn't have that order on it.

i havent seen anything ... first add was july 29.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 01, 2016, 03:37:26 PM
Did anyone receive the monthly summary email yesterday? I got one at the end of July, but I haven't received one yet for August. I'm curious to see it, because the pay stub I received yesterday is for higher than I was expecting.
I didn't initially either (I received the paystub first), but I did just receive it.

My bet is it was delayed a day because the person who usually does customer support is out, and the person who usually does the monthly breakdowns is covering for her right now.  But yes, mine was delayed, but I did end up getting it.

Sometimes you'll get ones from early in the next month confirmed posted, and get paid for them then (like getting paid early!) so that's likely why it's higher than expected--it'll obviously even out when the next month's paycheck doesn't have that order on it.

Just received mine as well - you are correct, the breakdown shows two adds from August 1st that I got paid for "early" - love it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 01, 2016, 04:53:48 PM
I asked Discover to increase my credit limit over $10K.  I got $9,500.  This is on a 15 year old card, so it would be pretty attractive to the customers, I think.  How long should I wait to call back before requesting another increase?  And also, if I remove Mr. O as an AU now, would that be suspicious?

When I poked at Discover a few times, one of the customer reps said they can reconsider after 30 days.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: thepokercab on September 01, 2016, 05:19:38 PM
Did anyone receive the monthly summary email yesterday? I got one at the end of July, but I haven't received one yet for August. I'm curious to see it, because the pay stub I received yesterday is for higher than I was expecting.
I didn't initially either (I received the paystub first), but I did just receive it.

My bet is it was delayed a day because the person who usually does customer support is out, and the person who usually does the monthly breakdowns is covering for her right now.  But yes, mine was delayed, but I did end up getting it.

Sometimes you'll get ones from early in the next month confirmed posted, and get paid for them then (like getting paid early!) so that's likely why it's higher than expected--it'll obviously even out when the next month's paycheck doesn't have that order on it.

i havent seen anything ... first add was july 29.

I haven't seen anything either, although my first add was right on August 1.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: oneday on September 01, 2016, 06:28:54 PM
I asked Discover to increase my credit limit over $10K.  I got $9,500.  This is on a 15 year old card, so it would be pretty attractive to the customers, I think.  How long should I wait to call back before requesting another increase?  And also, if I remove Mr. O as an AU now, would that be suspicious?

When I poked at Discover a few times, one of the customer reps said they can reconsider after 30 days.

Thanks!  Now to figure out when I last called them...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 01, 2016, 06:43:19 PM
I asked Discover to increase my credit limit over $10K.  I got $9,500.  This is on a 15 year old card, so it would be pretty attractive to the customers, I think.  How long should I wait to call back before requesting another increase?  And also, if I remove Mr. O as an AU now, would that be suspicious?

When I poked at Discover a few times, one of the customer reps said they can reconsider after 30 days.

Thanks!  Now to figure out when I last called them...

Check the log in your cell phone.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Regular Guy on September 02, 2016, 04:28:05 AM
I only have one credit card with USAA and it does have a high credit limit and I've had it for years.  However, I don't think I am willing to do this for ethical reasons and I don't want to risk my one card, but good luck to those who are making some extra cash.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: oneday on September 03, 2016, 09:56:14 AM
I asked Discover to increase my credit limit over $10K.  I got $9,500.  This is on a 15 year old card, so it would be pretty attractive to the customers, I think.  How long should I wait to call back before requesting another increase?  And also, if I remove Mr. O as an AU now, would that be suspicious?

When I poked at Discover a few times, one of the customer reps said they can reconsider after 30 days.

Thanks!  Now to figure out when I last called them...

Check the log in your cell phone.

Lol, my Luddite is showing.  I looked back through my notebook full of to-do lists :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Kjmiller1984 on September 06, 2016, 09:16:53 AM
Quick question...

I am horrible at taxes. If i sign my W9 as an s corp, then i can claim all the money as profits correct? So less taxes correct?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on September 06, 2016, 10:53:45 AM
Quick question...

I am horrible at taxes. If i sign my W9 as an s corp, then i can claim all the money as profits correct? So less taxes correct?

Incorrect.  A quick google-fu indicates that you have to pay yourself (and any co-owners of the S-corp) a reasonable salary first before any profits can be taken self-employment tax free.  The "reasonable salary" would be subject to self-employment taxes.  And yes, the IRS does look for people who try to claim that $1/year is a "reasonable salary" as a way to avoid self-employment taxes.

http://www.obliviousinvestor.com/s-corporation-tax-introduction/

Nice try, though :-)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dignam on September 06, 2016, 11:04:54 AM
Decided to give this a shot.  I have 3 cards all over $10k limits, one is 6 years old that I never use anymore.  We'll see how it goes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: spud1987 on September 06, 2016, 11:51:50 AM


Concerns:
Is this illegal?
Not at all. Totally legal.  Also very likely against your credit card terms of service though, so you are at risk of them closing your credit card account.


I don't think it is accurate to call this scheme "totally legal." Granted, I'm just a tax lawyer and I don't specialize in federal wire/RICO claims, but I would be concerned about the legality of selling tradelines. Buying tradelines is likely a violation of the Fair Credit Reporting Act. The seller could easily be charged as an accomplice under the act or under the RICO statute. The use of wire transfers and direct deposit makes these actions subject to federal criminal jurisdiction. The financial crime statutes are all very broad and could be used by the DOJ to bring an action. Even if the law is a grey area, I would not want the hassle of the federal criminal or civil action.

Put another way, if you offered me $100k to take on this risk, I would pass.

Disclaimer: none of the above should be construed to be legal advice.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 06, 2016, 12:24:18 PM


Concerns:
Is this illegal?
Not at all. Totally legal.  Also very likely against your credit card terms of service though, so you are at risk of them closing your credit card account.


I don't think it is accurate to call this scheme "totally legal." Granted, I'm just a tax lawyer and I don't specialize in federal wire/RICO claims, but I would be concerned about the legality of selling tradelines. Buying tradelines is likely a violation of the Fair Credit Reporting Act. The seller could easily be charged as an accomplice under the act or under the RICO statute. The use of wire transfers and direct deposit makes these actions subject to federal criminal jurisdiction. The financial crime statutes are all very broad and could be used by the DOJ to bring an action. Even if the law is a grey area, I would not want the hassle of the federal criminal or civil action.

Put another way, if you offered me $100k to take on this risk, I would pass.

Disclaimer: none of the above should be construed to be legal advice.

just like in the world of online poker and sports betting they arent going to come after the users playing the games they are going to come after the companies putting the game on and allowing for the marketplace to exist.  if it were a violation of any of that.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: spud1987 on September 06, 2016, 01:02:43 PM


Concerns:
Is this illegal?
Not at all. Totally legal.  Also very likely against your credit card terms of service though, so you are at risk of them closing your credit card account.


I don't think it is accurate to call this scheme "totally legal." Granted, I'm just a tax lawyer and I don't specialize in federal wire/RICO claims, but I would be concerned about the legality of selling tradelines. Buying tradelines is likely a violation of the Fair Credit Reporting Act. The seller could easily be charged as an accomplice under the act or under the RICO statute. The use of wire transfers and direct deposit makes these actions subject to federal criminal jurisdiction. The financial crime statutes are all very broad and could be used by the DOJ to bring an action. Even if the law is a grey area, I would not want the hassle of the federal criminal or civil action.

Put another way, if you offered me $100k to take on this risk, I would pass.

Disclaimer: none of the above should be construed to be legal advice.

just like in the world of online poker and sports betting they arent going to come after the users playing the games they are going to come after the companies putting the game on and allowing for the marketplace to exist.  if it were a violation of any of that.

I wouldn't be so sure. I'm sure you've heard the line that "no banks or bankers were criminally prosecuted as a result of the financial crisis." That is true. However, a number of individuals were prosecuted and spent time in federal prison (see http://www.outsideonline.com/1915671/ultrarunners-long-road-back). The DOJ often looks for low-hanging fruit, which often are individuals and not corporations.

Edit: my point in posting is not to say that this scheme will result in you spending prison time. Instead, I wanted to point out that the legality of the scheme is not so clear cut. The financial reward is not worth it to me personally.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 06, 2016, 06:10:51 PM
Timely post from Doctor of Credit on which companies will re-open a closed CC:

http://www.doctorofcredit.com/card-issuers-will-reopen-closed-credit-card/

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: albijaji on September 06, 2016, 11:34:32 PM
I've got a discover card from 1997 with an upper limit of $7,000

I called and asked them to raise it and they bumped it all the way to $7,500

I haven't used this card in a while and have a credit score over 815

1) is it of any use for this at only $7,500?

2) if I haven't used it in a couple of years, does it help to start using it again?  It shows up on my credit report

3) can I raise the limit over time and if so, how long would y'all think that will take me?

I'm in the same boat with Discover, though I started much lower and ended up slightly lower. I suggest starting to use the card more. Current rotating category is Amazon & Home Improvement.

If the card isn't getting used, Discover doesn't have much reason to raise your limit.

i just went online with a discover card that is 6 years old
old credit limit was 7300
and they gave me an instant 4200
i have not used that card for almost a year (after we had the card number stolen twice within a two month period)
my credit score hovers around 800
i did not think they would give me that much of a 'raise'
oh, ok 5 min before asking for the new credit line i did a 5 dollar reload on an amazon card
since i wanted to test if it was activated...

i am still considering this
i am so slow to pull the trigger  i know i should jump on this..
but i only have that one discover card
the citi card i have ,  i dont even remember the number its so old and as others have mentioned
its probably canceled since its over 10 years old..
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: oneday on September 07, 2016, 08:30:37 AM
I've got a discover card from 1997 with an upper limit of $7,000

I called and asked them to raise it and they bumped it all the way to $7,500

I haven't used this card in a while and have a credit score over 815

1) is it of any use for this at only $7,500?

2) if I haven't used it in a couple of years, does it help to start using it again?  It shows up on my credit report

3) can I raise the limit over time and if so, how long would y'all think that will take me?

I'm in the same boat with Discover, though I started much lower and ended up slightly lower. I suggest starting to use the card more. Current rotating category is Amazon & Home Improvement.

If the card isn't getting used, Discover doesn't have much reason to raise your limit.

i just went online with a discover card that is 6 years old
old credit limit was 7300
and they gave me an instant 4200
i have not used that card for almost a year (after we had the card number stolen twice within a two month period)
my credit score hovers around 800
i did not think they would give me that much of a 'raise'
oh, ok 5 min before asking for the new credit line i did a 5 dollar reload on an amazon card
since i wanted to test if it was activated...

i am still considering this
i am so slow to pull the trigger  i know i should jump on this..
but i only have that one discover card
the citi card i have ,  i dont even remember the number its so old and as others have mentioned
its probably canceled since its over 10 years old..

Another data point:

I also have a Discover card I want to enroll in this program.  The credit limit was somewhere around $6500, and I called a month ago to get a raise.  The first bumped me up to around $8000, then I pushed on the CSR a bit & they transferred me to a special department which bumped me up to $9500.  Based on advice here, I used the card a bit (I typically use it only for whatever the 5% reward category is).  Called back last weekend since it was noted here that they can only raise the limit every 30 days*.  They gave me another paltry $500, but that's enough to get me to $10K, so that's my experience.

*Well I was able to escalate and get 2 raises in the same day, but possibly they mean the first-line CSR's can only do it every 30 days?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 07, 2016, 04:55:05 PM
For Discover, I have good luck with the increase option on the web site as well.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: VladTheImpaler on September 07, 2016, 07:22:33 PM
Data point for Citi:

Went online and requested credit limit increase on Citi Thank You Preferred credit card. (2 yrs old)
Available credit was automatically increased from $6500 to $7900.
I immediately submitted a 2nd online request for 20k, to be reviewed.
A couple days later I received an email and snail mail letter notifying of increase to $15,000 available credit.

Hope that's useful to other Citi cardholders.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 08, 2016, 05:26:23 AM
i opened a new discover card for use in 2 years hopefully this is still going.  you have to wait 60 days to request a credit increase ... just an FYI
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FIREandMONEY on September 09, 2016, 01:06:30 PM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 09, 2016, 03:19:07 PM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: enalynom on September 10, 2016, 06:15:45 PM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.

The company that we're talking about in this thread only accepts cards from a few banks.  If you have cards from other banks that you'd like to use, it may make sense to find another company for them.  I don't think you'd want to use the same cards with multiple tradeline companies. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on September 10, 2016, 08:01:41 PM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.

The company that we're talking about in this thread only accepts cards from a few banks.  If you have cards from other banks that you'd like to use, it may make sense to find another company for them.  I don't think you'd want to use the same cards with multiple tradeline companies.

Please share your experiences with any other companies as a comparison.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 11, 2016, 09:36:18 AM
Timely post from Doctor of Credit on which companies will re-open a closed CC:

http://www.doctorofcredit.com/card-issuers-will-reopen-closed-credit-card/

Awesome, thanks!

i only have that one discover card
the citi card i have ,  i dont even remember the number its so old and as others have mentioned
its probably canceled since its over 10 years old..

Go to CreditKarma.com and check your credit report and see if the Citi card is reporting on there.  If it is, call them up and ask them to mail you a new card.  :)

Another data point:

I also have a Discover card I want to enroll in this program.  The credit limit was somewhere around $6500, and I called a month ago to get a raise.  The first bumped me up to around $8000, then I pushed on the CSR a bit & they transferred me to a special department which bumped me up to $9500.  Based on advice here, I used the card a bit (I typically use it only for whatever the 5% reward category is).  Called back last weekend since it was noted here that they can only raise the limit every 30 days*.  They gave me another paltry $500, but that's enough to get me to $10K, so that's my experience.

*Well I was able to escalate and get 2 raises in the same day, but possibly they mean the first-line CSR's can only do it every 30 days?

Sweet.  30 days is pretty frequent, and multiple in one day (on the phone) is great!  Thanks for the info.

For Discover, I have good luck with the increase option on the web site as well.

Good to know.  I had good luck with it once, then kept hitting it, and getting rejected.  ;)  Probably need to call in, or wait a little more patiently.

Data point for Citi:

Went online and requested credit limit increase on Citi Thank You Preferred credit card. (2 yrs old)
Available credit was automatically increased from $6500 to $7900.
I immediately submitted a 2nd online request for 20k, to be reviewed.
A couple days later I received an email and snail mail letter notifying of increase to $15,000 available credit.

On the first request did you put in an amount? 

The company that we're talking about in this thread only accepts cards from a few banks.  If you have cards from other banks that you'd like to use, it may make sense to find another company for them.  I don't think you'd want to use the same cards with multiple tradeline companies.

Yeah, definitely don't want to sign up a card with more than one company, but if you have other cards you want to sell they don't take, I can see why you'd use those.  Unfortunately, I have only found the one I'm comfortable, and I've checked out quite a few!  But if anyone finds one they think might be good, definitely PM me and we can discuss, I'd be happy to check any out, too.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: VladTheImpaler on September 11, 2016, 12:12:35 PM

Data point for Citi:

Went online and requested credit limit increase on Citi Thank You Preferred credit card. (2 yrs old)
Available credit was automatically increased from $6500 to $7900.
I immediately submitted a 2nd online request for 20k, to be reviewed.
A couple days later I received an email and snail mail letter notifying of increase to $15,000 available credit.

On the first request did you put in an amount? 

Nope, just requested a credit limit increase from the website and that's what they gave me.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: gimp on September 11, 2016, 04:44:43 PM
Very interesting thread.

It seems to me a pretty good loophole. Credit-issuing companies and middlemen work together to assess someone's credit worthiness to make money off them. I kind of don't give a shit if someone manages to trick that system into assessing them as a lower credit risk. They make plenty of money, and when they're wrong, they eat the cost, I don't give a fuck. Though as always, if everyone does it, it starts to get problematic for everyone.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HipGnosis on September 12, 2016, 01:39:17 PM
i only have that one discover card
the citi card i have ,  i dont even remember the number its so old and as others have mentioned its probably canceled since its over 10 years old..
Go to CreditKarma.com and check your credit report and see if the Citi card is reporting on there.  If it is, call them up and ask them to mail you a new card.  :)
CreditKarma shows I have two CITI cards.  But my records show I had 2 CITI cards, 2 of which were closed.  How do I find out what card CreditKarma is showing?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 12, 2016, 01:47:22 PM
i only have that one discover card
the citi card i have ,  i dont even remember the number its so old and as others have mentioned its probably canceled since its over 10 years old..
Go to CreditKarma.com and check your credit report and see if the Citi card is reporting on there.  If it is, call them up and ask them to mail you a new card.  :)
CreditKarma shows I have two CITI cards.  But my records show I had 2 CITI cards, 2 of which were closed.  How do I find out what card CreditKarma is showing?

CreditKarma should have a line about account status. Does it say "open" or "active" or something like that?  Or does it say "closed"?  Because closed accounts can stay on your credit report for up to 10 years (one reason why getting a card shut down, if it happens, isn't a huge deal).

If it is still showing as open or active, just note the credit limit and opening date, then call Citi, tell them you lost your card, have them look it up based on your social security number, confirm it's the right card (w/ the credit limit and opening date) and have them reissue you a new one.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: enalynom on September 12, 2016, 07:31:31 PM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.

The company that we're talking about in this thread only accepts cards from a few banks.  If you have cards from other banks that you'd like to use, it may make sense to find another company for them.  I don't think you'd want to use the same cards with multiple tradeline companies.

Please share your experiences with any other companies as a comparison.

I don't have any experience with other companies.  If I decide I want to stick with this side hustle, I will look into them in the future.  Right now I'm missing out on a lot of potential sales because I have several cards that are ineligible.  I'm fine with starting slowly, I can ramp it up later if I find another company I'm comfortable with. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HipGnosis on September 15, 2016, 09:42:23 AM
Just got this:

Thanks for your interest in joining our program. Unfortunately, at this time we are no longer accepting new cards into the program to preserve our current inventory of cards. We will open up our program to new investors starting in January 2017...
should you have any cards that qualify that you'd like to add to the program, please email me starting January 2017 and I'd be happy to get you set up in the program.

I will have more eligible cards by then though...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FIREandMONEY on September 15, 2016, 09:52:38 AM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.

Le sigh...

I'll ask again.

Does anybody know if there is any documents they any of these tradeline companies (or the particular one that most are referencing in this thread) can have you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on September 15, 2016, 10:07:48 AM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.

Le sigh...

I'll ask again.

Does anybody know if there is any documents they any of these tradeline companies (or the particular one that most are referencing in this thread) can have you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.
Nope, there is no way, as far as we know and based on current incentive, that any tradeline company would want to take on full liability for fraud in your place.
Right now it is in an undetermined grey area of rules that everyone is dancing around. If you participate, you could be held liable when the ball drops, and the fraud charges could be far more severe than the 'mere boost' that you think is being gained through the credit boosting service.

The way I see it, ARS is the ringleader, so I'll rat him out right away.
I'm just an innocent otter in all this! I can't do jail time, man!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TheAnonOne on September 15, 2016, 10:43:48 AM
I sent an email asking if my capital one @ 4y and 26k CL was still listed as it has had no sales since being listed in Mid July. It seems like it would be at least reasonably popular given that it's above the 2 year 10k requirements by quite a bit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Apostrophe on September 15, 2016, 10:53:02 AM
I am interested in signing up for a few of these tradeline companies. 

Does anybody know if there is any documents they make you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

Why would you sign up with multiple companies? Find a good company and use them.

Using multiple companies is how people get burned and get their cards canceled by exceeding AU guidelines and triggering attention.

Le sigh...

I'll ask again.

Does anybody know if there is any documents they any of these tradeline companies (or the particular one that most are referencing in this thread) can have you sign that put the liability for any potential fraudulent charges that can be connected to the selling of the tradeline back on the tradeline company?  That would make me feel a lot better, even though a lot of you guys say it's safe and there's no way they could get my info.

What would possibly be fraudulent about any charges? They are an authorized user on your card. Authorized. By you.

Nothing fraudulent about it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 15, 2016, 03:36:45 PM
Thanks for your interest in joining our program. Unfortunately, at this time we are no longer accepting new cards into the program to preserve our current inventory of cards. We will open up our program to new investors starting in January 2017...
should you have any cards that qualify that you'd like to add to the program, please email me starting January 2017 and I'd be happy to get you set up in the program.

This is, unfortunately, the case.  Apparently too many MMM readers were interested, and it may have tipped the balance into more supply than demand, so for now, they're not accepting new investors.  =/

Hope everyone got in the cards they wanted--sorry for those of you who didn't see this post over the last 2 months, or didn't email.  I'm assuming most long time MMM readers/forum members had a chance to do so, at least.  :)

I'm editing the OP to include this info.

As I said in there: "There are other companies, but none that I can recommend that I feel comfortable with.  If you find a tradeline company you think is good, please PM me and I'd be happy to help look into it; it would be great if we could find alternative ones (I just haven't been able to; there are lots out there, but, like I said, none I'd be comfortable using, thus none I can recommend)."
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 15, 2016, 03:37:42 PM
I sent an email asking if my capital one @ 4y and 26k CL was still listed as it has had no sales since being listed in Mid July. It seems like it would be at least reasonably popular given that it's above the 2 year 10k requirements by quite a bit.

I think we briefly discussed this up thread, but I'm almost thinking/wondering if cards between 10k-20k have a higher number of sales (though obviously lower commission per sale) since they cost the AUs quite a bit less.  Plus I think cards in the top of their "bracket" (e.g 18-19k versus 12k, or 28-29k versus 21-22k) would get more sales--costs the AUs the same, but have more credit overall.

It's not to the point where I'm dropping my cards that are at a 21k limit down to 19k, or not pushing for the biggest increase possible, but something I'm monitoring.  :)

Thanks for your data point!

Is there anyone who has had any sales, and will provide rough card details (provider, age, limit)?

What would possibly be fraudulent about any charges? They are an authorized user on your card. Authorized. By you.

Nothing fraudulent about it.

+1.  There is no feasible way for them to get a card, and there has never been a charge by one of these AUs in the history of the company, but they ARE an authorized user.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 15, 2016, 03:44:11 PM
Is there anyone who has had any sales, and will provide rough card details (provider, age, limit)?

I had one sale relatively quickly on the first card I enrolled: Chase, three years, $22,000
I had signed it up a bit ago, before this thread really blew up.

No sales on my second enrolled card (Discover, four years, $10,000)

I don't think I got paid for my first card yet, was going to wait through the month to bother about inquiring.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 15, 2016, 03:46:28 PM
I don't think I got paid for my first card yet, was going to wait through the month to bother about inquiring.

If the sale was in August, you'll get paid in about two weeks (the payroll processes end of the following month--this is because they have to wait a month to verify with the AU that it posted to their credit report).  If the sale was in July, you should have gotten paid about two weeks ago.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 15, 2016, 03:51:39 PM
I don't think I got paid for my first card yet, was going to wait through the month to bother about inquiring.

If the sale was in August, you'll get paid in about two weeks (the payroll processes end of the following month--this is because they have to wait a month to verify with the AU that it posted to their credit report).  If the sale was in July, you should have gotten paid about two weeks ago.

I had to double check. It was at the very beginning of August, so I'll be waiting. I'm not in a hurry either way, this is like surprise money.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: JLee on September 15, 2016, 03:55:14 PM
I just got another $1450 on my Discover IT from the online request, but I'm still only at $7700 total. I haven't had it for all that long yet (less than two years) so I may request again in a few months.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 15, 2016, 06:38:02 PM
Are we supposed to activate the AU card?  I didn't see any guidance either way in the documents.  It seems like activation is not necessary from what I know of AUs.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 15, 2016, 06:48:15 PM
Are we supposed to activate the AU card?  I didn't see any guidance either way in the documents.  It seems like activation is not necessary from what I know of AUs.

Nope, no need. Stick it in a drawer for the month, shred it when you remove them as an AU.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 16, 2016, 06:12:52 AM
I just got another $1450 on my Discover IT from the online request, but I'm still only at $7700 total. I haven't had it for all that long yet (less than two years) so I may request again in a few months.

After getting the initial CL boost on my old barely-used Discover on the first inquiry ($3600 -> $6600) and being denied once in the meantime (insufficient experience with this credit limit) and some mild usage of the card (< $100/mo) - about 2 months after the first boost, I was just bumped again ($6600 -> $8100)

So, I am guessing I will need another 6 months or so to break the $10k barrier.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FrugalSaver on September 16, 2016, 04:54:51 PM
I was told they are no longer accepting new applicants. Anyone else been told this?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 16, 2016, 04:58:09 PM
I was told they are no longer accepting new applicants. Anyone else been told this?

This is indeed the case; they have stopped signups to prevent supply (cards) outstripping demand (AUs).

See edit at the top of the OP, or this post (http://forum.mrmoneymustache.com/share-your-badassity/selling-tradelines-piggybacking-$600hr-20-40kyr-side-gig/msg1229266/#msg1229266) from the bottom of the previous page.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 16, 2016, 05:53:18 PM
Are they accepting cards from an existing sellers?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on September 16, 2016, 06:36:42 PM
Arebelspy why don't you start a tradeline company so that you can put all our good credit lines to use?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 16, 2016, 06:55:56 PM
Are they accepting cards from an existing sellers?

Not sure, will have to check on this.  Changes to existing enrolled cards (e.g. credit line increases) definitely are good though.

Arebelspy why don't you start a tradeline company so that you can put all our good credit lines to use?

Hah.  That sounds like work.  ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on September 17, 2016, 06:38:45 AM
We would all help.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 17, 2016, 06:46:38 AM
You guys realize there are other sites right.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 17, 2016, 06:48:18 AM
You guys realize there are other sites right.

Lots.

Have you found one you think is worth working with?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 17, 2016, 09:28:35 AM
I had one I contacted simultaneous to the one we use that seemed legit. But when you referred this site as well as the fact that I don't have anymore cards to put in the system I had no reason to test
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ZsMom on September 18, 2016, 12:03:20 AM
I set this up but haven't gotten any orders yet. Assuming since my account was approved before the freeze I'm OK. I'll see what happens this month.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dignam on September 18, 2016, 07:25:40 AM
We would all help.

This - come on arebelspy, you know you want to ;)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Fireball on September 18, 2016, 12:51:15 PM
You guys realize there are other sites right.

Lots.

Have you found one you think is worth working with?

I tried two other sites just based on what reviews I could find on them - [URL Removed] and [URL Removed]. I do not recommend either of them. If anyone finds another reliable vendor please report back to the group.

MOD EDIT: URLs removed, per earlier discussion on posting URLs here.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on September 18, 2016, 08:48:01 PM
Is someone allowed to post a thread about tradeline companies, with their actual names, in which comparisons are made?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 18, 2016, 08:59:19 PM
Is someone allowed to post a thread about tradeline companies, with their actual names, in which comparisons are made?

I'd prefer not, because Google, but if you'd like to, please use the journal section, which requires a login, so isn't indexed by search engines. 

I'm only leaving this thread open (rather than locking it) so those who have signed up can discuss, if they want, but that may change, too.  It'll still exist, for people to see the concept and read about it.  But over the last two months, I think the vast, vast majority of the forum readers that were interested got a referral and signed up.  Now a lot of the people contacting me were new signups.  I'd rather not see the MMM forums flooded by nonMustachians for unrelated topics, especially once everyone who's a regular here got the opportunity to sign up.

In fact, I may just move this thread to the journals section, too.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 18, 2016, 11:56:34 PM
Is there anyone who has had any sales, and will provide rough card details (provider, age, limit)?

I had one sale relatively quickly on the first card I enrolled: Chase, three years, $22,000
I had signed it up a bit ago, before this thread really blew up.

Further data point: wife just got a sale on her Chase, five years, $23,000

I understand your reason to move to journals, non indexed by search, but seems funny: Selling Tradelines Journals. We'll have to spice it up to keep it relevant
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dragoncar on September 19, 2016, 12:04:23 AM
Well crap I never signed up!  Anyone with a referral care to PM me before this thread disappears?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 19, 2016, 12:08:21 AM
Well crap I never signed up!  Anyone with a referral care to PM me before this thread disappears?

I sent you a PM to let you know the name of the company, but like I said, it's not really any good until 2017, as they aren't accepting new accounts right now.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Richie Poor on September 19, 2016, 08:25:16 AM
You guys realize there are other sites right.

Lots.

Have you found one you think is worth working with?


Does the tradeline company take any steps to verify that the card information you give them is accurate?

I'm curious to know what criteria would make a reputable tradeline dealer? Would it be looking out for the cardholder by limiting AUs? Is it just a matter of knowing someone who has experience with the place?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HipGnosis on September 19, 2016, 12:57:23 PM
I was told they are no longer accepting new applicants. Anyone else been told this?
I reported that in Reply #392 on: September 15, 2016
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 20, 2016, 03:49:58 PM
I was fortunate to get two cards in under the deadline, but still no sales yet. I'm hoping this month I will get some.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on September 20, 2016, 10:03:55 PM
Got my first sale! Very happy about it and looking to increase other tradelines to make more money.

Only questionable thing was that while talking with the CC rep, she asked me if I wanted the card sent to my address or to the AU's address. Obviously I said mine, but it did make me a little concerned that they might easily send one to the AU in the future.... I plan on calling a time or two in the next few days to see if I can use the AU's info to get a card sent to their address (secret shopper/ devil's advocate/ whatever you want to call it).

Will report back with results soon.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 20, 2016, 10:23:54 PM
Only questionable thing was that while talking with the CC rep, she asked me if I wanted the card sent to my address or to the AU's address. Obviously I said mine, but it did make me a little concerned that they might easily send one to the AU in the future.... I plan on calling a time or two in the next few days to see if I can use the AU's info to get a card sent to their address (secret shopper/ devil's advocate/ whatever you want to call it).

I had a rep ask the same thing, too, and I said my address, and was quite confused.  Then towards the end of the call, I asked if I even could have sent it to the AUs address, as I thought it could only go to the main address on the account, and she went and checked and came back and said "oh, that's right" and said that it could only go to my address.  She seemed new.

Now all the cards I use can add online (and half can be removed online), so I rarely even have to call.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on September 20, 2016, 11:28:27 PM
Got my first sale! Very happy about it and looking to increase other tradelines to make more money.

Only questionable thing was that while talking with the CC rep, she asked me if I wanted the card sent to my address or to the AU's address. Obviously I said mine, but it did make me a little concerned that they might easily send one to the AU in the future.... I plan on calling a time or two in the next few days to see if I can use the AU's info to get a card sent to their address (secret shopper/ devil's advocate/ whatever you want to call it).

Will report back with results soon.

Uh, that's terrifying. I hope that this was a case like ARS, where she was inexperienced, and in fact, the system wouldn't let her send to the AU, even if she tried.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 21, 2016, 09:07:08 AM
Maybe I'm mis-reading the directions but on call-in adds I haven't even given the rep the AU's address - just name, birthdate, and social security.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on September 21, 2016, 11:52:31 AM
Hi all -- Wanted to share my experiences with the co. that ARS recommended:

1. signed up mid-July
2. Got my first sale 8/19/16      - Barclaycard 14000 limit (I believe I should be paid for this around 9/30/16)
3. Got my second sale 9/21/16 -  Barclaycard 24000 limit (I'd upped the limit for the card I used in #2)

I have two other cards signed up, Chase and Discover, and no nibbles on those.

I added the AUs online. Barclaycard didn't ask for SSs, just name and address. Not sure how this can report to credit bureaus without the SSs, but we shall see.

Also, I tried logging into pay*.com, which administers the payments, and no matter which browser type I try to use, I get an "insecure connection" message and can't get in. Anyone else see this problem?

Big (big!) thanks to ARS for sharing all this info with the rest of us, and drawing this long-time MMM lurker out of the shadows and into the forum.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 21, 2016, 12:11:13 PM
i think we've flooded their system with AU sellers that they dont have enough buyers.  but all my cards are full. bofa and chase so only 2 au's each
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 21, 2016, 01:25:39 PM
I added the AUs online. Barclaycard didn't ask for SSs, just name and address. Not sure how this can report to credit bureaus without the SSs, but we shall see.

I noticed that a SS box doesn't show up unless you select "other" from the drop-down box for choosing the AU's relationship to you. I do believe that the social security number is usually very important for the adds to report correctly.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on September 21, 2016, 02:09:59 PM
Maybe I'm mis-reading the directions but on call-in adds I haven't even given the rep the AU's address - just name, birthdate, and social security.

Issuers vary on what information they request when you add an AU.  I think if you look towards the front of their PDF instructions for adding an AU it actually lists what information is requested on a per issuer basis.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on September 21, 2016, 04:14:55 PM
Yup, the TL company's "how to add AUs" PDF says Barclays requires a SS and their step-by-step instructions show such a field on a sample Barclays web page. But the form didn't show that field for me, and I chose "Other" as relationship. Hmm...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on September 21, 2016, 04:57:13 PM
Just as a data point, I just sold a spot on my Discover card with $7500 limit.  So even though they now want $10,000+ limits for all new cards, you might still get sales if you have cards with lower limits.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 21, 2016, 06:08:39 PM
Yup, the info required varies based on the card issuer.

I do my adds online, and just fill in all the info they ask for.

Just as a data point, I just sold a spot on my Discover card with $7500 limit.  So even though they now want $10,000+ limits for all new cards, you might still get sales if you have cards with lower limits.

Yep, they always honor any cards enrolled in the system before changes.  Glad to hear you got a sale on a card with a lower limit!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: sisto on September 21, 2016, 08:11:31 PM
I'm bummed that I never got a reply back from them. I figured I would have heard back by now. :(
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HipGnosis on September 22, 2016, 12:38:24 PM
I got the credit limit raised on my 11 yr old CITI card.  I requested it online, and it said I'd be notified by Email, but they sent me a letter in the postal mail.
I'm using my 9 yr old Discover card a bit (and will pay it off in full a couple times) before I request a credit limit increase on it.  The only activity it's seen over the last few years was the annual dues for a trade association.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 22, 2016, 04:45:18 PM
Just got an order for the 2nd slot on my $15k, 4 year old USBank card, first slot sold last month.

My friend who is not on MMM got 2 sales yesterday.

I think I will go ahead and offer them my Discover. It's only $8,100 now, but it is over 20 years old.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on September 22, 2016, 08:57:43 PM
Got my first sale! Very happy about it and looking to increase other tradelines to make more money.

Only questionable thing was that while talking with the CC rep, she asked me if I wanted the card sent to my address or to the AU's address. Obviously I said mine, but it did make me a little concerned that they might easily send one to the AU in the future.... I plan on calling a time or two in the next few days to see if I can use the AU's info to get a card sent to their address (secret shopper/ devil's advocate/ whatever you want to call it).

Will report back with results soon.

Uh, that's terrifying. I hope that this was a case like ARS, where she was inexperienced, and in fact, the system wouldn't let her send to the AU, even if she tried.
Update as promised:

I called in 4 times and talked to four different reps (used different credit cards and tried a different bank as well) and they all said that if an authorized user calls in, they can send the card out to their address. So, I took it a step further and called in pretending to be the AU that I recently added. After confirming information (that I doubt an AU would be able to access) they were able to send out a card to the AU's address :(

I then googled the address that I had for the AU that I added. It was a recently foreclosed home, which could either make sense because someone is looking for credit, or potentially bad if there is mail going to a home with nobody at it and someone is taking advantage of that fact.

I've decided to cancel the AU (and get a new CC number issued) and let [Mod Edit: Tradeline Company] know that I cancelled and am terminating our agreement. :(

Although I think it would be very difficult, if not impossible, for an AU to figure out all of the necessary information to get a card sent out, there's too much risk in my eyes to justify the reward. I would constantly stress out about the small chance that something bad happens. And unfortunately, if they received access, these aren't small credit lines we're talking about.

However, I was not able to find any scams and the background info I found on the company did not throw up any more flags. There have obviously been people on these boards doing it for a while without any issues, so I'm not saying to not do it. Just keep in mind the risk/reward ratio here. Just my own personal thoughts.  Thank you ARS for being very helpful through the process.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 22, 2016, 09:00:02 PM
Wow,  crazy!

Thanks for following up on this!

What credit card company is this?  If I have a card by them, I want to do testing of my own (and/or unenroll those cards). (EDIT: Discussed over PM, was Chase, which I don't currently use anyways. Ost said Discover told them the same thing, though I've spoken with Discover and been assured an AU cannot order a card, or have it sent anywhere but the primary address.)

Definitely hasn't been my experience with the cards I've enrolled, when I've talked to reps.

After confirming information (that I doubt an AU would be able to access)

I mean, that's at least a small relief, but I personally wouldn't use any CC where they'd send a card to the AU.  Definitely not worth the risk in those cases.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on September 22, 2016, 09:24:18 PM
As ARS has already done, I would recommend doing your own research with any bank that you will be using.

It is possible that I misworded the way I asked the Discover rep, or that she wasn't knowledgeable about it.

This could possibly be a reason they stopped allowing Chase cards to be used.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FIREandMONEY on September 23, 2016, 09:37:04 AM
Update as promised:

I called in 4 times and talked to four different reps (used different credit cards and tried a different bank as well) and they all said that if an authorized user calls in, they can send the card out to their address. So, I took it a step further and called in pretending to be the AU that I recently added. After confirming information (that I doubt an AU would be able to access) they were able to send out a card to the AU's address :(

I then googled the address that I had for the AU that I added. It was a recently foreclosed home, which could either make sense because someone is looking for credit, or potentially bad if there is mail going to a home with nobody at it and someone is taking advantage of that fact.

I've decided to cancel the AU (and get a new CC number issued) and let [Mod Edit: Tradeline Company] know that I cancelled and am terminating our agreement. :(

Although I think it would be very difficult, if not impossible, for an AU to figure out all of the necessary information to get a card sent out, there's too much risk in my eyes to justify the reward. I would constantly stress out about the small chance that something bad happens. And unfortunately, if they received access, these aren't small credit lines we're talking about.

However, I was not able to find any scams and the background info I found on the company did not throw up any more flags. There have obviously been people on these boards doing it for a while without any issues, so I'm not saying to not do it. Just keep in mind the risk/reward ratio here. Just my own personal thoughts.  Thank you ARS for being very helpful through the process.

This is precisely why I asked the question about the waiver of liability for fraudulent charges a few posts ago.

I have seen or experienced enough on both sides of these grey area/semi-legal type dealings that I am confident if a identity thief put their mind to it, they could become an AU and figure out a way to social engineer their way to getting a copy of the card.  For ANY big CC company.  A company will tell you there is NO WAY an AU can get a copy of their card, but in the end, all it takes is a CSR gullible/ignorant enough to send one out.  It's a game of cat and mouse, and there are very intelligent cat and mice on BOTH sides of the game.  I am just not sure if right now it's worth the ID thief's time, as there are lots of other (perhaps easier) opportunities out there.

I seriously considered this when I saw the first post pop up, but when I imagine the feeling when I see $20K worth of charges from Joe Blow on Joe Blow's card that I authorized, I get a sick feeling in my stomach.  My recourse would be nil.   The juice ain't worth the squeeze for me.

When a tradeline company produces some sort of seller-insurance or waiver of liability, I'll be all over this. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Smokystache on September 23, 2016, 09:38:36 AM
Are they accepting cards from an existing sellers?

Not sure, will have to check on this.  Changes to existing enrolled cards (e.g. credit line increases) definitely are good though.


ARS: Thanks for all the information and serving as go-between for these questions. Curious if they've said whether current enrollees can add new cards. I'm almost ready to have 2 Discover Cards (10 possible AUs!!) that will be ready to go and would love to add them before January. Thanks again!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Dollar Slice on September 23, 2016, 09:55:33 AM
Got my first order today. Luckily it was not on my Chase card, which I'd decided to pull from the system after reading this thread yesterday. Maybe lowering their AU security is a clever way to keep people from selling them as tradelines :-)

I looked at the AU terms and conditions when I added the order (it was on my Capital One card) and it specifically says that AUs cannot request a card, and I don't think it even gave me an option to mail a card to any address but my own.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: .22guy on September 23, 2016, 09:58:22 AM
Fuuuuck.

I set this up, got two orders (Barclay card) and was feeling good about it.  Now I'm freaked out again.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Fireball on September 23, 2016, 10:35:56 AM
Wow.  That's not good.  Granted, your average everyday person probably couldn't pull it off, but someone who knew what they were doing - maybe.  I will have to decide what my risk tolerance is on this particular hustle.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ostornadoe1 on September 23, 2016, 10:58:49 AM
From the rep at the tradeline company:

Quote
Yes, in a typical situation an authorized user could call in and ask for an authorized user card to be sent to their address. However, please remember that this is not a typical situation. A typical situation is a family member who knows basic things like the name of the primary account holder and card number of the authorized user card. This is not a typical situation as the authorized user does not know your name and if you do not send them the card, which you have complete control over, they will never know the card number. The only information they have on your card is the primary bank issuer, the credit limit, the opening date, and the statement date. If they wanted to access your card they first off would not even know which type of Chase card you have to call in - as they all have different numbers to call into customer service. So they would not even know the number to call. Even if they did call Chase customer service, they don't know your name or account number, so there would be no way for them to access your account to request an authorized user card since they wouldn't even be able to direct the customer service rep to an account. And even if they did, like you said yourself, they would have to answer a bunch of security questions they don't know the answer to either (again they don't even know your name!).

We've been in this business for over three years and we've never even had an attempted security breach, because as I described the AU doesn't have any information that would allow them to access your account. We, on the other hand, have the client's name, SSN, date of birth, address, and a legal document saying we can take them to court for even attempting to access an investor's information.

Here's some of my reply and thoughts:

Thank you for your in depth reply. Although you are probably correct that the AU wouldn't have any information, if they were to contact one of the three credit bureaus I'm not sure that the credit bureaus would not give out some information, such as the last four of the CC, or what the card was, as they would have a right to legally know who opened an AU account on their name, to stop instances of fraud. When I signed up, I had believed that banks would absolutely never send a credit card out to an AU address. From the FAQ that you sent me "With (Insert Company name here), the AU will never have access to the card. It is bank policy that all cards, including AUs, will only be sent to the primary account holder’s address."

Again, I'm sure it is pretty safe, but the risk to reward ratio to me is too great.

Edit: I've also done some research in to the particular company, as well as their holding LLC company and didn't find any issues in the past 3 years that they have been opened (but also didn't find a lot of reviews or feedback).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: EscapeVelocity2020 on September 23, 2016, 12:53:00 PM
I'm also pretty surprised with how much trust folks are putting into this Tradeline company.  What recourse do you really have if they sell your data, or use your credit themselves (or hire a "rogue employee" (https://en.wikipedia.org/wiki/2011_UBS_rogue_trader_scandal))?  They could simply say that they were hacked, declare bankrupcy, form a shell company, etc.  Just my outsider opinion, I have no skin in this game, but I hope folks can keep their senses and know when to pull their winnings off the table.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 23, 2016, 01:30:34 PM
Fuuuuck.

I set this up, got two orders (Barclay card) and was feeling good about it.  Now I'm freaked out again.

Did you add their address to your account? I sure as hell didn't.

Primary should be required to add an address.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 23, 2016, 01:34:43 PM
I'm also pretty surprised with how much trust folks are putting into this Tradeline company.  What recourse do you really have if they sell your data, or use your credit themselves (or hire a "rogue employee" (https://en.wikipedia.org/wiki/2011_UBS_rogue_trader_scandal))?  They could simply say that they were hacked, declare bankrupcy, form a shell company, etc.  Just my outsider opinion, I have no skin in this game, but I hope folks can keep their senses and know when to pull their winnings off the table.

Well, the Tradeline company has some of my personal information, like dozens of other companies do.

They have the age, credit line and brand of credit card. They don't have the CC number, expiration date or CVV code.

They have the account number to direct deposit funds into my account at a different credit union from where I do the rest of my banking. The balance in that account is <$100, and I intend to keep it that way by withdrawing deposits.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 23, 2016, 01:34:53 PM
I'm also pretty surprised with how much trust folks are putting into this Tradeline company.  What recourse do you really have if they sell your data, or use your credit themselves (or hire a "rogue employee" (https://en.wikipedia.org/wiki/2011_UBS_rogue_trader_scandal))?  They could simply say that they were hacked, declare bankrupcy, form a shell company, etc.  Just my outsider opinion, I have no skin in this game, but I hope folks can keep their senses and know when to pull their winnings off the table.

what risk do you think we as the card holders are taking on here that a rogue employee could use or sell data with.  our information on a w9?  b/c they have no other information about our credit cards.  other than bank and limit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 23, 2016, 01:50:10 PM
Fuuuuck.

I set this up, got two orders (Barclay card) and was feeling good about it.  Now I'm freaked out again.

Did you add their address to your account? I sure as hell didn't.

Primary should be required to add an address.

Can you clarify?  Are you saying you didn't enter the AU's address when adding him?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 23, 2016, 01:52:35 PM
Fuuuuck.

I set this up, got two orders (Barclay card) and was feeling good about it.  Now I'm freaked out again.

Did you add their address to your account? I sure as hell didn't.

Primary should be required to add an address.

Can you clarify?  Are you saying you didn't enter the AU's address when adding him?

Correct. Name, birth date, SSN is all I used.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: EscapeVelocity2020 on September 23, 2016, 01:54:49 PM
The company arebelspy referred seems to take great pains to keep everything legit. The require a real bank for direct deposit for paying out for tradeline use. They verify ID on those wanting tradelines and require a real SSN.

Maybe it was a misread of this earlier, but sounded like the Tradeline Co. is in the middle of a lot of info (and of course know the credit reporting system inside and out). 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 23, 2016, 02:07:02 PM
The company arebelspy referred seems to take great pains to keep everything legit. The require a real bank for direct deposit for paying out for tradeline use. They verify ID on those wanting tradelines and require a real SSN.

Maybe it was a misread of this earlier, but sounded like the Tradeline is in the middle of a lot of info (and of course know the credit reporting system inside and out).

yeah they are but more so on the people who need to be boosted side of things ... those people are essentially trusting both the tradeline company and the person like us here who are getting their info.  1 company who is making a killing on selling these is in the middle i estimate we see ~20% of what the client is actually paying for the line so in that case it would be incredibly stupid on their part to start trying other things.  if ARS is making 20k and i'm making 20k ... they are probably making over 200k a year off of each of us combined.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 23, 2016, 06:20:43 PM
This is good:
Quote
We've been in this business for over three years and we've never even had an attempted security breach, because as I described the AU doesn't have any information that would allow them to access your account. We, on the other hand, have the client's name, SSN, date of birth, address, and a legal document saying we can take them to court for even attempting to access an investor's information.

And this is even better:
I looked at the AU terms and conditions when I added the order (it was on my Capital One card) and it specifically says that AUs cannot request a card

This is the case, from what I understand, for all the cards I use.

It's definitely worth doing the due diligence, and, like I've said multiple times, don't do anything that makes you uncomfortable.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dragoncar on September 23, 2016, 06:34:10 PM
This is good:
Quote
We've been in this business for over three years and we've never even had an attempted security breach, because as I described the AU doesn't have any information that would allow them to access your account. We, on the other hand, have the client's name, SSN, date of birth, address, and a legal document saying we can take them to court for even attempting to access an investor's information.

And this is even better:
I looked at the AU terms and conditions when I added the order (it was on my Capital One card) and it specifically says that AUs cannot request a card

This is the case, from what I understand, for all the cards I use.

It's definitely worth doing the due diligence, and, like I've said multiple times, don't do anything that makes you uncomfortable.  :)

They do have access to the info, though.  For example, I just checked the Equifax dispute process for my wife (who is one of my AUs) and it lists all but the last 4 digits of the CC#.  For all I know, the Transunion dispute process shows only the last 4 digits and bingo you have the full #.  Either way, I'm sure the full number is somehow recorded in your credit report, so it's possible to obtain with the right approach.

Getting them to send you a card -- yeah, I'm sure they aren't supposed to send the card directly to an AU.  I would hope they have systems in place to prevent it from happening.   But again, with the right approach -- correct SSN, CC#, they could convince them to send it (they will sometimes do this, for example, if you are traveling and forgot/lost the card... they will overnight you a new one possibly for a fee... obviously they aren't sending it to your home address).

Even if the bank breaks their own policy, I'm not sure you'd have a good dispute because you DID authorize the AU to use the card.  Regardless of whether they have an internal policy not to send the card to the AU, they will rightfully see the charges as valid.

Still, that's a lot of work... honestly there are easier ways to steal credit cards!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 23, 2016, 06:44:32 PM
One more factor to consider - the AU is usually only on the account for 1-2 months, and only shows on their credit report for a short time. I'm not saying they couldn't watch for it and jump into action immediately upon seeing it added, but the smaller window does limit the range of time they'd have to suss out who's account they are on, and request a new card.

Based on the conjecture here, I believe there is a slim chance someone could get their hands on an actual card, before I remove them as an AU, but I think that chance is very slim, and I think it's worth the gamble.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 24, 2016, 07:59:28 AM
One more factor to consider - the AU is usually only on the account for 1-2 months, and only shows on their credit report for a short time. I'm not saying they couldn't watch for it and jump into action immediately upon seeing it added, but the smaller window does limit the range of time they'd have to suss out who's account they are on, and request a new card.

Based on the conjecture here, I believe there is a slim chance someone could get their hands on an actual card, before I remove them as an AU, but I think that chance is very slim, and I think it's worth the gamble.

An AU is paying something close to $2,000 to be an AU. That seems an awfully expensive way to be able to defraud a card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 24, 2016, 08:04:48 AM
An AU is paying something close to $2,000 to be an AU. That seems an awfully expensive way to be able to defraud a card.

Indeed. From what I understand, you can get any number of legit credit cards on the black market for much cheaper than that.

And anonymously.  With this one, they know exactly who did the spending, have all the info, etc.  The argument, I suppose, from them would be that they weren't defrauding, because they were an authorized user.  But if they have a contract signed otherwise, that they will not attempt to use the card, then you could argue it was defrauding you, or at least violating the contract.  Then again, how much are you going to get suing someone with presumably such bad credit?  You can go back and forth on why it would or wouldn't be likely.

But if someone does want a credit card to scam, there are certainly easier ways.

It's definitely a risk though.  I just don't personally evaluate it as a very high one.  Something everyone should evaluate for themselves if selling their tradelines though.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 25, 2016, 09:06:53 AM
No sales yet, but I have Discover and US Bank cards available now for sale. I think the mitigants to the recent discovery that cards can go out to AU's for some cards is this: With Discover you can freeze your account anytime you want (so spend the one time then freeze your card, they aren't going to let the AU remove the freeze). With US Bank you only give the AU's name, SS# and DOB. So very remotely possible that the card goes to the AU if they call in and socially engineer, because the AU would have to provide a new random address that wasn't even on file before. Also, there's no identifiable information they could provide the bank to prove they are the AU on your account to begin with, so only truey idiot representative with blatant disregard for normal caller verification and disregard for bank policy would have to go above and beyond to send a card to a new address that they never had to begin with. I worked as a call-in customer service rep for two years and have been in banking for 7, so I have some experience in these matters.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HAPPYINAZ on September 25, 2016, 09:20:50 AM
got a sale recently on my Bank of America card...yeah!  Let's hope it's posts right.  BofA didn't allow an option to send the card to the AU even though I added the address.  So I don't think the AU can call to get a card mailed directly.  I also think there must be far easier ways to get a credit card number for fraud and ones that don't require the person to shell out 1 to 2 grand for the opportunity to commit fraud.  In addition if you end up making $6,000 - $20,000 in extra money on this, it doesn't matter too much if someone charges a fraudulent $1000 or so.  I have had credit card numbers stolen once while on vacation (not related to selling tradelines) and the fraudulent charges amounted to less than $150.....seems credit card thieves don't aim very high.  So even if fraud occurred, you are likely still making far more money than you are losing. You can freeze your card very quickly or do like the poster above me recommended and freeze the card after adding the AU and after spending a small amount to have it post a charge as required for the program.     
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on September 25, 2016, 11:15:58 AM
Given the above discussion, I just added a new alert to my Barclaycard that will let me know if anyone ever charges something above $11 since the only thing I used the card for now is recurring Amazon gift card reloads of $10/month. If anything beyond that happens, I'll get an alert.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on September 25, 2016, 11:21:01 AM
Given the above discussion, I just added a new alert to my Barclaycard that will let me know if anyone ever charges something above $11 since the only thing I used the card for now is recurring Amazon gift card reloads of $10/month. If anything beyond that happens, I'll get an alert.

Yeah, I should have mentioned that mine is set to alert me for any purchases exceeding $1 (the minimum setting) or any "card not present" purchases - it should give me 1 alert/month when Netflix bills.

So if someone does decide to defraud, I'm getting emailed and texted immediately.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 25, 2016, 12:12:56 PM
FYI: Barclaycard's alert system is delayed 24-48 hours, usually 48 hours in my experience.  This applies to text and email alerts.  I did the same but unfortunately with the delay it is not very helpful.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HAPPYINAZ on September 25, 2016, 02:11:22 PM
FYI: Barclaycard's alert system is delayed 24-48 hours, usually 48 hours in my experience.  This applies to text and email alerts.  I did the same but unfortunately with the delay it is not very helpful.

that hasn't been my experience....I often get notifications almost immediately. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 25, 2016, 06:35:15 PM
That's odd!  I will have to call them and see if there is a reason for the delay. 

I have noticed that American Express and Elan cards are instant.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dragoncar on September 25, 2016, 11:42:34 PM
FYI: Barclaycard's alert system is delayed 24-48 hours, usually 48 hours in my experience.  This applies to text and email alerts.  I did the same but unfortunately with the delay it is not very helpful.

I have my chase set to notify on all purchases.  I usually get a text immediately.  It's kinda nice if I go to a restaurant and they take the check.  When I get the text, they usually come back seconds later.  Nice little heads up.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: sobezen on September 26, 2016, 11:52:20 PM
Pity they don't accept Wells Fargo anymore.  :(  That's one of my oldest cards 25 years old.  Oh wells, will wait to see if they open any spots before January 2017.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 27, 2016, 04:26:22 PM
Got two orders today under my Discover card which was exciting but then spent two hours messing with this, so far. Both were clearly very foreign names (though stateside addresses). Two issues which will see how this works out: one, Discover shows the status of the 1st person as Pending, and "may contact me for additional information". Second, the address on one, while in Los Angeles, was an address, followed by a building number, then unit number, and Discover's online system would not accept. I tried adding both online.

I'm a little concerned that if the tradeline company is just sending foreign names our way that Discover will flag the account and potentially commence the shut down process. I gathered while on the phone with the tradeline company that Credit card companies do that more likely when they detect a "foreign" name. Whatever that means.

Anybody else have an experience with these issues yet?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 27, 2016, 05:11:11 PM
I've had addresses formatted weird.  Discover is more finicky than the other companies about address formatting, and I've had them pop up an error.  I just contacted the trade company, and they verify the address.  Sometimes I've had to slightly edit it to make the formatting work (e.g. type "Unit A" instead of "#A"), and never had a problem with the card showing up on the AU's report (since you are using their Name, SSN and DOB, which are the main pieces of info to get it added).

As far as foreign names, I'd guess about half of my orders are "foreign sounding."  I don't know how often low credit correlates with someone who comes from an immigrant family wanting to boost their credit to build a life for themselves.  Their citizenship is listed, though--they should be a US citizen.  As discussed earlier in the thread (maybe around page 1-2 IIRC? Pretty early on), if they are a US citizen, have a SSN, and their information is collected and verified, I don't care what their name is, nor do I see a benefit to profiling people based on their name.  I don't think only people with [whatever your criteria]-sounding names deserve access to better credit.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 27, 2016, 05:41:21 PM
I've had addresses formatted weird.  Discover is more finicky than the other companies about address formatting, and I've had them pop up an error.  I just contacted the trade company, and they verify the address.  Sometimes I've had to slightly edit it to make the formatting work (e.g. type "Unit A" instead of "#A"), and never had a problem with the card showing up on the AU's report (since you are using their Name, SSN and DOB, which are the main pieces of info to get it added).

As far as foreign names, I'd guess about half of my orders are "foreign sounding."  I don't know how often low credit correlates with someone who comes from an immigrant family wanting to boost their credit to build a life for themselves.  Their citizenship is listed, though--they should be a US citizen.  As discussed earlier in the thread (maybe around page 1-2 IIRC? Pretty early on), if they are a US citizen, have a SSN, and their information is collected and verified, I don't care what their name is, nor do I see a benefit to profiling people based on their name.  I don't think only people with [whatever your criteria]-sounding names deserve access to better credit.

I amended the address several different ways to try and get it to work, and neither the main part of the address nor the building and unit number would be accepted into Discover. I emailed the tradeline company about that and they cancelled the order because that was the only address they had, so unfortunately it won't work with Discover.

The reason I brought up the "foreign sounding name" criteria is that apparently Discover thinks some names deserve further inquiry/verification, and according to the tradeline company (per my phone call this afternoon and in a passing comment from the rep) Discover (or some credit card companies) may profile AU's who have names that are more abnormal than others. This makes a difference to me as a seller if after many of those further inquiries Discover starts to catch on and closes my card. I certainly have no personal qualms about doing this for a foreign sounding name or person, but it may adversely impact our cards if the credit card companies manually review the ones that are somehow flagged because they are more "foreign" to begin with.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: .22guy on September 27, 2016, 05:54:06 PM
Fuuuuck.

I set this up, got two orders (Barclay card) and was feeling good about it.  Now I'm freaked out again.

Did you add their address to your account? I sure as hell didn't.

Primary should be required to add an address.

Yeah, there was a space for it on the AU page.

Already received the cards to my address but still feeling anxious.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 27, 2016, 05:57:20 PM
Yeah, there was a space for it on the AU page.

Already received the cards to my address but still feeling anxious.

Not worth anxiety.

1) Shred the card you got for them (you don't ever need it, I shred them right away)
2) Use your card for that account, so it has a charge on it, so it will post correctly.
3) Contact the tradeline company to reduce your lines to zero, so you don't get any more orders
4) Monitor the account to make sure no other charges go on it.  Remove the AU as soon as allowed (date is on the tradeline site).
5) Stop selling tradelines until you're comfortable.  :)

I think you should definitely honor what you've done, but that doesn't mean you need to do any more.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 27, 2016, 06:07:34 PM
The reason I brought up the "foreign sounding name" criteria is that apparently Discover thinks some names deserve further inquiry/verification, and according to the tradeline company (per my phone call this afternoon and in a passing comment from the rep) Discover (or some credit card companies) may profile AU's who have names that are more abnormal than others. This makes a difference to me as a seller if after many of those further inquiries Discover starts to catch on and closes my card. I certainly have no personal qualms about doing this for a foreign sounding name or person, but it may adversely impact our cards if the credit card companies manually review the ones that are somehow flagged because they are more "foreign" to begin with.

Interesting.  With Discover you add, and remove, online.  So the only way they could tell if there was a foreign sounding name is if either you called in (to add or remove them) and the rep flagged it, or if they put a filter in their system to look for those type of names.  That sounds like odd profiling, to me.  Be interesting to see a lawsuit around that (someone adding their friends/family with "foreign" names, then getting the account closed).  Not that they have a right to credit with that company, but they might get a nice settlement to avoid publicity.

In any case, I wouldn't go into this without being aware of, and okay with, the possibility that your card may get shut down.  It's quite rare, but it is the primary risk of this endeavor (the only actual semi-likely risk, IMO).  I'm putting my money where my mouth is, and keeping all my Discover cards in the program.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 27, 2016, 06:44:12 PM
As far as foreign names, I'd guess about half of my orders are "foreign sounding."  I don't know how often low credit correlates with someone who comes from an immigrant family wanting to boost their credit to build a life for themselves.  Their citizenship is listed, though--they should be a US citizen.

Or a new immigrant, student, temporary worker, etc. You don't need to be a US citizen, simply a resident, to get a credit card (but perhaps the tradeline company has stricter requirements).

I remember coming to the US from Canada and finding out all of a sudden I have zero credit record since things don't transfer between countries. It's a PITA especially since the US relies on credits scores for so many more things than I was used to. I could see new immigrants etc. wanting these services.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Cpa Cat on September 27, 2016, 06:45:03 PM
As a foreigner myself, I can attest to the fact that it can be quite difficult for new citizens to get a decent credit score, due to penalties relating to the length of credit history. Often, there aren't even any student loans to help foreigners along. Having high income or high assets does not help.

I can't remember when I stopped being penalized for my short credit history, but it was years and years (maybe 7?). One year a switch flipped and I went from being a credit risk due to my short credit history to having the best credit offers thrown at me from all directions.

And it was a big deal. Our property insurance cost was cut in half that year, and we were able to qualify for a much better mortgage. Also, prior to that, I was only eligible for the worst credit cards at low limits, and once my credit history got long enough, it was super easy to get high-limit, good-quality credit cards.

It doesn't surprise me at all that it's mostly foreign-sounding people who use this service. Becoming an authorized user is a cure for a short credit history. New immigrants have short credit histories. A couple thousand dollars up front to qualify for the best mortgage? Easily worth it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 27, 2016, 06:51:54 PM
I guess I don't know if they're all citizens, but one of my cards (can't remember which one) definitely asks for citizenship, and every time it's been US (tradeline company supplies this info on the AU, can't recall if it's always listed, or only if needed).  They obviously all have a SSN, but they could be a non-citizen with a SSN.  Either way, whether they're a recent immigrant, or their family is, yes, that seems like a plausible reason to work on raising your credit score. Like I said, my results are around half "foreign" sounding.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 27, 2016, 06:56:44 PM
Does anyone know if they reduced the # of spots for some CC issuers?  My barclay card had 2 spots, 1 used, so 1 available.  It now shows as 0 available.  It has been like this for a few days so I don't think it is a pending sales still (ie what ARS explained way up thread as a 'trick').  Any ideas? 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 27, 2016, 07:04:41 PM
Does anyone know if they reduced the # of spots for some CC issuers?  My barclay card had 2 spots, 1 used, so 1 available.  It now shows as 0 available.  It has been like this for a few days so I don't think it is a pending sales still (ie what ARS explained way up thread as a 'trick').  Any ideas?

I don't think they'll reduce your lines without you asking for it, once it's in.

It's very likely a pending sale, they just haven't released the info to you.  They will a day or two before the close date.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 27, 2016, 07:09:26 PM
That would be awesome!  It looks like my first sale was on the 27th, so fingers crossed!  Thanks for the reply and keeping us up to date.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 27, 2016, 09:46:14 PM
Does anyone know if they reduced the # of spots for some CC issuers?  My barclay card had 2 spots, 1 used, so 1 available.  It now shows as 0 available.  It has been like this for a few days so I don't think it is a pending sales still (ie what ARS explained way up thread as a 'trick').  Any ideas?

I've had "ghost" sales a few times, where I see the number reduce by 1, but a sale never comes through. This just happened on my Capital One last week. I'd say about 1/4 of the time that I see what I think might a pending sale, it never materializes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on September 28, 2016, 12:15:11 AM
I've had these "ghost" sales on my Barclaycard too. About 3 days later I got the message to add the AU.

I also noticed that they bumped up my # of AUs from 2 to 3. I'll take it!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 28, 2016, 08:18:46 AM
The reason I brought up the "foreign sounding name" criteria is that apparently Discover thinks some names deserve further inquiry/verification, and according to the tradeline company (per my phone call this afternoon and in a passing comment from the rep) Discover (or some credit card companies) may profile AU's who have names that are more abnormal than others. This makes a difference to me as a seller if after many of those further inquiries Discover starts to catch on and closes my card. I certainly have no personal qualms about doing this for a foreign sounding name or person, but it may adversely impact our cards if the credit card companies manually review the ones that are somehow flagged because they are more "foreign" to begin with.

Interesting.  With Discover you add, and remove, online.  So the only way they could tell if there was a foreign sounding name is if either you called in (to add or remove them) and the rep flagged it, or if they put a filter in their system to look for those type of names.  That sounds like odd profiling, to me.  Be interesting to see a lawsuit around that (someone adding their friends/family with "foreign" names, then getting the account closed).  Not that they have a right to credit with that company, but they might get a nice settlement to avoid publicity.

In any case, I wouldn't go into this without being aware of, and okay with, the possibility that your card may get shut down.  It's quite rare, but it is the primary risk of this endeavor (the only actual semi-likely risk, IMO).  I'm putting my money where my mouth is, and keeping all my Discover cards in the program.  :)

Yeah I added online yesterday. It started "processing" giving me a status bar and said it may take up to 60 seconds. It was clearly running some sort of algorithm or search. I wonder if this is new?

As an update, Discover has now requested  proof of SS#, name, and physical address. The rep at the tradeline company said they had these things, but it seems this whole process has turned up a notch...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: sirdoug007 on September 28, 2016, 09:27:55 AM
I got my first two sells today.  The process on discovers website is really easy.

The hardest part was figuring out where to click on the tradeline site to get the persons full personal details!  Looking forward to seeing how this pans out.

There was a button on Discover's website that allowed you to not send a card.  I sent a card anyways (to my address) thinking that would be weird to add a AU without a card.  Anybody use the no card feature?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 28, 2016, 03:48:51 PM
As an update, Discover has now requested  proof of SS#, name, and physical address. The rep at the tradeline company said they had these things, but it seems this whole process has turned up a notch...

That's really, really weird.  Just checked my records and I've done 11 Discover AUs over the last few months, haven't had any issues like that.  I wonder if it's this particular person they have red flagged or something.

And it seems sirdoug, in the post below yours, added Discover AUs today:
I got my first two sells today.  The process on discovers website is really easy.

So it doesn't seem to be just a new thing added since I last added mine or something.  Seems like a very rare occurrence.  Sucks it's happening on one of your first ones (I know the feeling--some of our first tradeline sales--B of A--didn't post correctly, even though I did everything correct, so we didn't get paid. Was a bummer, but a rare thing, and the ones the following month worked fine, so whatever.)

The hardest part was figuring out where to click on the tradeline site to get the persons full personal details!

Haha, yeah, I had that same issue at first.  :P

Quote
There was a button on Discover's website that allowed you to not send a card.  I sent a card anyways (to my address) thinking that would be weird to add a AU without a card.  Anybody use the no card feature?

That's an interesting question.  I've always clicked yes to send them a card (to my address), and then shredded it when it arrived.  I'm worried that not sending a card will send up a red flag or something.  Would be nice not to even receive them at all though, if that's not the case.  IDK how to find out without asking and potentially raising flags, so I just keep sending em.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on September 28, 2016, 04:24:54 PM
I might be mis-remembering, but I think the instructions say to have a card sent.

The last Discover add I got, the company emailed me to tell me that it may require a photo ID to verify, and that if it did, they had it available.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 28, 2016, 04:46:34 PM
So I just got 2 new credit cards for hacking with bofa and moved the balance over to my 2 cards in their system. Increasing then from 19k to 32k. Extra 300 potential every 2 months woo hoo

Also the site is down right now. You noticed that ars?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HAPPYINAZ on September 28, 2016, 05:06:57 PM
So I just got 2 new credit cards for hacking with bofa and moved the balance over to my 2 cards in their system. Increasing then from 19k to 32k. Extra 300 potential every 2 months woo hoo

Also the site is down right now. You noticed that ars?

site working fine for me now
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 28, 2016, 05:15:34 PM
So I just got 2 new credit cards for hacking with bofa and moved the balance over to my 2 cards in their system. Increasing then from 19k to 32k. Extra 300 potential every 2 months woo hoo

Also the site is down right now. You noticed that ars?

site working fine for me now

Not the site that you go in to add AU's the marketing site to attract more people to sell au spots is down. We killed it
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 28, 2016, 09:10:50 PM
Both were clearly very foreign names (though stateside addresses)

Slightly besides the point, and I know you didn't mean any harm, etc. etc., but there's all kinds of systematic cultural and racial assumptions going on in you thinking you can categorize names into "foreign" or not..

What you probably mean is sounds like my name and names from my immediate cultural heritage or not... :)

I can list some obvious examples, but hopefully the point is clear
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on September 28, 2016, 09:23:11 PM
@arebelspy: You wrote:

Quote
Sucks it's happening on one of your first ones (I know the feeling--some of our first tradeline sales--B of A--didn't post correctly, even though I did everything correct, so we didn't get paid. Was a bummer, but a rare thing, and the ones the following month worked fine, so whatever.)

Regarding the 'ones the following month'. Were those BofA or other types of cards?

I just added my second AU onto our BofA card. Just want to confirm that you've been paid on on a BofA card in particular. Sorry if this has been answered already, but the thread is getting looooong so I didn't search it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 28, 2016, 10:50:36 PM
So I just got 2 new credit cards for hacking with bofa and moved the balance over to my 2 cards in their system. Increasing then from 19k to 32k. Extra 300 potential every 2 months woo hoo

Yeah, I still haven't done the sign up for new cards to transfer the balance thing, but that's mostly because I'm close to the 5/24--in 2 months one will drop off, and I can do the Sapphire Reserve. After I get that, I'm sorely tempted to do it.  Glad to hear it worked for you! :D

Quote
Also the site is down right now. You noticed that ars?

Haha. I knew they weren't taking any new accounts until at least January, and right now at focusing on marketing for AUs, I wonder if the site is down on purpose.   EDIT: Looks up to me right now (didn't check it earlier).

@arebelspy: You wrote:

Quote
Sucks it's happening on one of your first ones (I know the feeling--some of our first tradeline sales--B of A--didn't post correctly, even though I did everything correct, so we didn't get paid. Was a bummer, but a rare thing, and the ones the following month worked fine, so whatever.)

Regarding the 'ones the following month'. Were those BofA or other types of cards?

I just added my second AU onto our BofA card. Just want to confirm that you've been paid on on a BofA card in particular. Sorry if this has been answered already, but the thread is getting looooong so I didn't search it.

Yeah, I've had several successful B of A posts since then... They just had an issue back in June, for some reason.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 29, 2016, 07:14:59 AM
really if you go to the marketing site for the investor side you're not seeing hello world.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 29, 2016, 08:33:38 AM
The reason I brought up the "foreign sounding name" criteria is that apparently Discover thinks some names deserve further inquiry/verification, and according to the tradeline company (per my phone call this afternoon and in a passing comment from the rep) Discover (or some credit card companies) may profile AU's who have names that are more abnormal than others. This makes a difference to me as a seller if after many of those further inquiries Discover starts to catch on and closes my card. I certainly have no personal qualms about doing this for a foreign sounding name or person, but it may adversely impact our cards if the credit card companies manually review the ones that are somehow flagged because they are more "foreign" to begin with.

Interesting.  With Discover you add, and remove, online.  So the only way they could tell if there was a foreign sounding name is if either you called in (to add or remove them) and the rep flagged it, or if they put a filter in their system to look for those type of names.  That sounds like odd profiling, to me.  Be interesting to see a lawsuit around that (someone adding their friends/family with "foreign" names, then getting the account closed).  Not that they have a right to credit with that company, but they might get a nice settlement to avoid publicity.

In any case, I wouldn't go into this without being aware of, and okay with, the possibility that your card may get shut down.  It's quite rare, but it is the primary risk of this endeavor (the only actual semi-likely risk, IMO).  I'm putting my money where my mouth is, and keeping all my Discover cards in the program.  :)

Yeah I added online yesterday. It started "processing" giving me a status bar and said it may take up to 60 seconds. It was clearly running some sort of algorithm or search. I wonder if this is new?

As an update, Discover has now requested  proof of SS#, name, and physical address. The rep at the tradeline company said they had these things, but it seems this whole process has turned up a notch...

Now I am getting cold feet and wondering if anyone else sees a good angle on this while I consider what to do. The tradeline company still needs to send me a copy of the SS# card and drivers license. I did a quick google search for the name this morning. Found an article under the same name, same state, and same age for a person who was arrested for manslaughter but eventually pleaded no contest to misdemeanor charge of reckless operation. Discover must have searched against some criminal database which is why it flagged this name. Damn, I have to think about this.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 29, 2016, 08:35:14 AM
Now I am getting cold feet and wondering if anyone else sees a good angle on this while I consider what to do. The tradeline company still needs to send me a copy of the SS# card and drivers license. I did a quick google search for the name this morning. Found an article under the same name, same state, and same age for a person who was arrested for manslaughter but eventually pleaded no contest to misdemeanor charge of reckless operation. Discover must have searched against some criminal database which is why it flagged this name. Damn, I have to think about this.

Just tell the tradeline company you're not comfortable with this one, and explain why. They're quite reasonable, and your worry is valid.

No need to stress about it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 29, 2016, 09:23:37 AM
Does anyone know if they reduced the # of spots for some CC issuers?  My barclay card had 2 spots, 1 used, so 1 available.  It now shows as 0 available.  It has been like this for a few days so I don't think it is a pending sales still (ie what ARS explained way up thread as a 'trick').  Any ideas?

I don't think they'll reduce your lines without you asking for it, once it's in.

It's very likely a pending sale, they just haven't released the info to you.  They will a day or two before the close date.

It was a pending sale.  Just took 2 days to show up.  No problem..

2 sales in slightly over 60 days.  I'll take it!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: yachi on September 29, 2016, 10:05:45 AM
Now I am getting cold feet and wondering if anyone else sees a good angle on this while I consider what to do. The tradeline company still needs to send me a copy of the SS# card and drivers license. I did a quick google search for the name this morning. Found an article under the same name, same state, and same age for a person who was arrested for manslaughter but eventually pleaded no contest to misdemeanor charge of reckless operation. Discover must have searched against some criminal database which is why it flagged this name. Damn, I have to think about this.

I don't know if I would let them know what you found if you intend to continue with the program.  If you're using the same company as Arebelspy, you agreed not to search for information on the Authorized User.  That said, I know a nice sweet lady that spent time under house arrest because her car slid through a stop sign on an icy road in wintertime.  She unfortunately hit a mininvan, for which she was incredibly sorry. I believe a child passenger in the minivan died, and the mother pushed to press charges.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: nitsuj1225 on September 29, 2016, 01:17:32 PM
Sorry if this question was asked before but I looked on the marketing website for the company just to see what the process was like on the buying side.  I see their lowest package is for tradelines with $5k-$10k limits.  Do they already have an abundance of these cards which is why they are only accepting cards over the $10k limit?  Just surprised me to see the ability to buy tradelines with less than a $10k limit when all I've seen is they only accept cards with a limit over $10k.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 29, 2016, 06:07:58 PM
Sorry if this question was asked before but I looked on the marketing website for the company just to see what the process was like on the buying side.  I see their lowest package is for tradelines with $5k-$10k limits.  Do they already have an abundance of these cards which is why they are only accepting cards over the $10k limit?  Just surprised me to see the ability to buy tradelines with less than a $10k limit when all I've seen is they only accept cards with a limit over $10k.
Yes, they used to accept cards between 5-10k, and other issuers. Then they narrowed to more selective cards that get more sales and are more reliable (10k+, certain CC companies).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: jpdcpajd on September 30, 2016, 12:20:55 AM
Definite Follow I have four Cards above 20k for those companies some over 10 years
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 30, 2016, 05:29:49 AM
Definite Follow I have four Cards above 20k for those companies some over 10 years

yeah i'd jump in feet first come january.  lots of bang for your life energy in this system.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Belief10 on September 30, 2016, 06:27:36 AM
The word from the tradeline company is that Discover is stepping up their game and we can expect to have to give document verification more frequently. I'm not sure we will know the driver for my flagged inquiry this time, or if it was truly random, but the tradeline company assured me they double check for fraud, verify with social security administration that these are real people, etc. Further, based on my own conclusions, for parties that may be interested, there was no discussion/explanation in our correspondence regarding checking for criminal activity by people we are adding to our tradelines, so we need to go into that with our eyes wide open.

With this specific order, I said I was not comfortable, and they were very amiable and attentive to my concerns on this order, and we appear to be set for the next one. It just is a bummer that my first two ended up with not being able to be added.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: sirdoug007 on September 30, 2016, 02:13:02 PM
My two Discover adds also required additional documents to be uploaded.

One guy just a social security card.  The other SS card, ID, and proof of address.  Seems like more hassle but i'll play along as long.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 30, 2016, 03:01:21 PM
I got PAID!!!! first month of signups 5 signups 981 bucks. i assume they are with holding some taxes or something? is that correct ARS.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: jpdcpajd on September 30, 2016, 03:17:00 PM
Not likely they are withholding if income reported on 1099
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 30, 2016, 03:43:55 PM
Also just got paid for my first month / August sales. Nice little surprise money now that I'm living on a fixed income :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 30, 2016, 04:53:18 PM
Yeah I figured it out. One of my AU's must not have reported correctly
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on September 30, 2016, 05:27:27 PM
Paid as well...  Money isn't in the bank yet but it said it could take 2 days to show.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 30, 2016, 06:27:28 PM
My two Discover adds also required additional documents to be uploaded.

One guy just a social security card.  The other SS card, ID, and proof of address.  Seems like more hassle but i'll play along as long.

Interesting, thanks for the data!  I'm curious to see if my next discover adds have the same thing (if it's system-wide, or just your guys' accounts flagged for some reason, or what).  Will be interesting to see if Discover keeps this up, and/or they stop using Discover--I hope not.  :)

Yeah I figured it out. One of my AU's must not have reported correctly

Yup, this is likely the case.  If it didn't report correctly, they'll upload the credit report to show you as proof.

--------------------------------------------------------

As many of you noted, end of the month = payday for the previous month (yay)!  (E.g. End of Sept = payment for August posts.)

Everyone should now have pay stubs for any August sales, and the money should hit your account within 3 business days or so, so probably Tuesday.

You should also, within a few days, get an email with a detailed breakdown of orders posting/not that will explain the amount of the paycheck (you probably don't care, if the payment matches what you were anticipating, but it may not for one reason or another, like with boarder so that detailed breakdown will help you figure out what's wrong--easiest to wait for that, and then you can email with questions).

I'm curious the cumulative amount Mustachians will have made from selling tradelines in August.  I'm guessing at least 5 figures combined.  The idea of all of that going towards debt paydown or FIRE (or reducing sequence of returns risk for those FIRE'd) makes me pretty happy.  :)

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on September 30, 2016, 08:14:06 PM
Debt paydown this isn't a mortgage thread. Mine is going to jack and meth 2x as efficient
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 30, 2016, 08:18:02 PM
Debt paydown this isn't a mortgage thread. Mine is going to jack and meth 2x as efficient

Okay, off topic, but I lol'd.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on September 30, 2016, 08:53:57 PM
Do you receive paystubs on a site separate from the tradeline site (with the word paycheck in the URL)? Anyone else having issues logging in? It keeps loading and loading and never ... loads.  I've tried chrome and safari.

I must know
how much I can spend on boy toys and blow.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on September 30, 2016, 09:34:00 PM
Hmm you guys might have the right idea. If I come across a casino in the next few days, how much of my new found free money should I put on red, or black, or whores?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on September 30, 2016, 10:21:15 PM
@Malaysia41, I was getting security problem flags trying to log into that site last week (in different browsers), but that is fixed this week.

I received an email from that co. today saying a new pay stub was ready, and I was able to log into their site no problem...

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on September 30, 2016, 10:40:15 PM
M41: That is the site to use (saw before edit, can confirm it's the right one), I use Chrome.  I can't 100% recall, cause it was almost 4 months ago, but I think I had an issue with the site at first, but has been fine ever since. 

Do you use OS X or Windows?

Also your Dr. Seuss-eque rhyme at the end made me laugh.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: FrugalSaver on October 02, 2016, 12:19:39 PM
I received the follow g on 9/14/16 from the company ARS uses. Anyone else having the same issues?

Here's the email content:

Thanks for your interest in our program. Unfortunately, at this time we are no longer accepting new cards into the program. We will open up our program to new investors starting in January 2017 for the beginning of the tax season, our highest sale season. I've attached our FAQ sheet and should you have any cards that qualify that you'd like to add to the program, please email me starting January 2017 and I'd be happy to get you set up in the program. Let me know if you have any questions.

 

Thanks
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 02, 2016, 12:28:10 PM
I received the follow g on 9/14/16 from the company ARS uses. Anyone else having the same issues?

Yup, they stopped taking new accounts a few weeks ago--we discussed it here in the thread, and I updated the top of the first post to reflect this.  Sorry you weren't able to get in in time!  Like it says, check back in about two months.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 02, 2016, 12:33:47 PM
I wonder why tax season would be their busiest time.  Anyone know or can speculate?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on October 02, 2016, 12:48:07 PM
I wonder why tax season would be their busiest time.  Anyone know or can speculate?

Maybe people use tax refunds as down payments on financed purchases like new cars?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 02, 2016, 02:15:37 PM
I wonder why tax season would be their busiest time.  Anyone know or can speculate?

Maybe people use tax refunds as down payments on financed purchases like new cars?

Heh, it's like a crosspost to Mustachian People Problems. No idea what the general public would do.

What do people spend tax refunds on?
Um, front loading the 401k?
529?
Roth Conversion?
What do you mean refunds? That's giving the feds a free loan!

Etc.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on October 02, 2016, 06:13:14 PM
What do people spend tax refunds on?

I know someone who buys used firearms when he can find them
throughout the year -- if he can acquire them in good condition at a
discount -- often just before Christmas.  He then sells them during
tax refund season when everyone's feeling flush.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on October 02, 2016, 08:38:22 PM
What do people spend tax refunds on?

I know someone who buys used firearms when he can find them
throughout the year -- if he can acquire them in good condition at a
discount -- often just before Christmas.  He then sells them during
tax refund season when everyone's feeling flush.

Genius!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 03, 2016, 07:28:31 AM
Four hundy smack-a-roonies for one tradeline in August. Wowzers. Clearing the name as an AU now. Woot.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 03, 2016, 07:40:44 AM
Four hundy smack-a-roonies for one tradeline in August. Wowzers. Clearing the name as an AU now. Woot.

You probably know this, but make sure it's past the deadline on the tradeline site--if it's a two month cycle, you need to make sure they're on the whole time.  So if it was an August add on a two month cycle, that would have to have been very early in the month, since we're just in early Oct now.  They can take back the funds (or rather, deduct it from a future paycheck) if you remove the AU early and they have to refund them.

Just FYI for anyone reading this, that "remove date" is important, make sure it's that date (or later).  :)

But yeah, that first paycheck is sweet--the dollars per hour on that $400 is probably pretty high.

And future ones will be even higher, now that you're all set up (e.g. first paycheck you count all the initial paperwork setup, but future ones is just add/remove AU).  :D
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 03, 2016, 08:02:28 AM
This is BofA. I went back and read the emails, then logged into the site. Now I see the remove date. (POST EDIT: IN ADDITION TO YOUR COMMENT ABOUT 2 MONTHS ARS), I had a little memory telling me it was a 2 month deal. Why was I blind to it before? IDK! Good thing I'm lazy. I only looked into how to remove the user and decided to put off the actual removal. Phew.

Still no sales on my CHASE card. But it only pays out a lousy $306.25, so whatevs. Who am I kidding? I'd love to sell a spot on that too.

Now fo sho I know
How much can spend per month, yo
On smack, ice, and snow

(haiku too much here? should we reel this back in?)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 03, 2016, 08:08:12 AM
Now fo sho I know
How much can spend per month, yo
On smack, ice, and snow

A rhyming hauku about drug purchases funded by tradeline sales? 

(https://dl.dropboxusercontent.com/u/9743562/icon_lol.gif)

Well done!

And another case where laziness pays off!  Yes!  Thanks for the screenshot--may be helpful to others.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 03, 2016, 08:11:30 AM
Now fo sho I know
How much can spend per month, yo
On smack, ice, and snow

A rhyming hauku about drug purchases funded by tradeline sales? 

(https://dl.dropboxusercontent.com/u/9743562/icon_lol.gif)

Well done!

And another case where laziness pays off!  Yes!  Thanks for the screenshot--may be helpful to others.  :)

I'm sorry I failed to give you credit there. In addition to that little memory nagging at me, it was really the ever-aware ARSE telling me 2 MONTHS! 2 MONTHS! that got me to stop and look further. Either way, laziness would have won the day, though.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on October 03, 2016, 11:52:27 AM
man i need some new adds today or it will be a month gap.  between adds on this card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 03, 2016, 03:56:48 PM
Nothing yet in my account, I'll share my dollar amount when it does.

Yes, I'm like that. Whatever a payroll statement says, it becomes real to me when it hits my account!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CowboyAndIndian on October 03, 2016, 05:20:53 PM
I missed the boat on this one.

Waiting for January :-(
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 03, 2016, 05:25:28 PM
I missed the boat on this one.

Waiting for January :-(

Luckily January's just a few months away.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 03, 2016, 05:34:50 PM
If someone knows...

I have a card on file with them right now with 2 spots.  Am I remembering correctly that after the first month (or so) this can be increased to more than 2 spots?  I seem to recall 5 but cannot find where I may have read that.

If this is true, is it recommended to go to 5, stay at 2 or somewhere in the middle?

Thanks for any advice!

P.S. Just got my commission report today also.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 03, 2016, 06:04:31 PM
I have a card on file with them right now with 2 spots.  Am I remembering correctly that after the first month (or so) this can be increased to more than 2 spots?  I seem to recall 5 but cannot find where I may have read that.

It depends on the card.  Check the FAQ they sent you--some go to 5, some 2.

After you've had your first add, and it's posted (e.g. you get paid) you can indeed email to bump the # of spots.

IMO, anyone who had an August sale should be doing this now.  :)

If this is true, is it recommended to go to 5, stay at 2 or somewhere in the middle?

I go with the limits they recommend--e.g. they've capped some at 2 for a reason, but if they have another capped at 5, that's fine with me.  You almost never sell out anyways, but I'd rather have the cap at 5 to have a chance at a few more sales.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 03, 2016, 06:15:18 PM
Thanks again, ARS!  The FAQ did cover it..  I missed it when I looked earlier.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 03, 2016, 10:54:28 PM
I just received my first commission report too. Clear, to the point, informative. This is pretty bitchin' so far.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 04, 2016, 03:56:39 PM
$225 deposited today :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on October 04, 2016, 03:57:48 PM
$225 deposited today. Cha-ching.

Cue "Money for Nothin"...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Smokystache on October 05, 2016, 06:41:31 AM
My two Discover adds also required additional documents to be uploaded.

One guy just a social security card.  The other SS card, ID, and proof of address.  Seems like more hassle but i'll play along as long.

I've also just had Discover ask for verification. Do we email the contact at the company to get this additional information? I wonder if at some point it will become easier for the company to submit that information (attach it somehow) as part of the original set up - so that we have it easily available in these situations. Perhaps they are waiting to see how often Discover and other companies ask for the additional information?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 05, 2016, 06:55:45 AM


My two Discover adds also required additional documents to be uploaded.

One guy just a social security card.  The other SS card, ID, and proof of address.  Seems like more hassle but i'll play along as long.

I've also just had Discover ask for verification. Do we email the contact at the company to get this additional information? I wonder if at some point it will become easier for the company to submit that information (attach it somehow) as part of the original set up - so that we have it easily available in these situations. Perhaps they are waiting to see how often Discover and other companies ask for the additional information?

Yep, email the investor support person.  I'd definitely ask her about that automatically being attached in the future, too.

Wonder if they'll keep accepting Discover if this is the case.

Very interesting to see how this industry shifts; crossing my fingers it lasts awhile. :)

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on October 05, 2016, 07:42:18 AM


My two Discover adds also required additional documents to be uploaded.

One guy just a social security card.  The other SS card, ID, and proof of address.  Seems like more hassle but i'll play along as long.

I've also just had Discover ask for verification. Do we email the contact at the company to get this additional information? I wonder if at some point it will become easier for the company to submit that information (attach it somehow) as part of the original set up - so that we have it easily available in these situations. Perhaps they are waiting to see how often Discover and other companies ask for the additional information?

Yep, email the investor support person.  I'd definitely ask her about that automatically being attached in the future, too.

Wonder if they'll keep accepting Discover if this is the case.

Very interesting to see how this industry shifts; crossing my fingers it lasts awhile. :)

credit card companies seem to be catching up with all the ways people are leveraging them to make money.  only a matter of time before its 1 credit card bonus per company per life.  and no AU adds unless you can prove thru a blood test you share DNA.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: merula on October 05, 2016, 07:47:04 AM
I signed up at the end of August and haven't gotten an order yet. The person I was originally emailing with said to email after a month if I hadn't gotten an order, so I did, and I got a response that they were going to try to get me an order.

I thought part of the response might be useful to the wider group:

"During regular sales time it may still take a month or two to receive an order on your card, as many of our brokers tend to work with tradelines they have worked with in the past and know will post consistently."

Sounds like there may be a reputational sales aspect. In any other circumstance, I'd send a nice gift basket...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: yachi on October 05, 2016, 07:52:17 AM
It's surprising to me that they're so open on their webpage about cards that they accept for the program.  Like: "HEY ENTIRE WORLD, THESE ARE THE CARDS THAT ARE EASY TO USE." The costs to credit card providers is not $0, they at least have to create and mail a card.  Because the additional AU won't be charging anything, it's not like there is a benefit to the credit card providers.  I see this industry closing down sooner because of how open they are about the cards that work and the ones that don't.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: joewalsh on October 06, 2016, 05:22:20 PM
[Mod Edit: Snipped giant quote of entire first post, due to length.]

Ive gotta say sir, I am impressed. Ive been churning credit cards for about 20 years and have never heard of this but I can totally see how it works. I am new on here so nice to meet you. I only have one long term card that I can use. I usually churn about 5 cards at a time and reap the benefits, stack up the points and then close them so that I dont have to think about them anymore. But your new system I am tempted to start doing. Thanks for the post and good luck to you sir.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 06, 2016, 05:28:34 PM
If this is true, is it recommended to go to 5, stay at 2 or somewhere in the middle?

I go with the limits they recommend--e.g. they've capped some at 2 for a reason, but if they have another capped at 5, that's fine with me.  You almost never sell out anyways, but I'd rather have the cap at 5 to have a chance at a few more sales.  :)
[/quote]

For anyone who may be curious, the rep did up my card to 5 (the limit for this issuer).  They did caution that 5 could lead to the card being shut down and offered to do less.  I'm sticking with 5 for now.  I may go down if I start getting a lot of activity.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on October 07, 2016, 10:44:33 AM

For anyone who may be curious, the rep did up my card to 5 (the limit for this issuer).  They did caution that 5 could lead to the card being shut down and offered to do less.  I'm sticking with 5 for now.  I may go down if I start getting a lot of activity.

why not just set the activity level on what they recommend. they are pretty versed in what it takes to keep you going in the system and a couple extra users vs a couple extra years of users is quite different.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 07, 2016, 11:47:40 AM

For anyone who may be curious, the rep did up my card to 5 (the limit for this issuer).  They did caution that 5 could lead to the card being shut down and offered to do less.  I'm sticking with 5 for now.  I may go down if I start getting a lot of activity.

why not just set the activity level on what they recommend. they are pretty versed in what it takes to keep you going in the system and a couple extra users vs a couple extra years of users is quite different.

I did.  Maybe my post wasn't clear.  Their limit (5) is what I went with but they cautioned me against it. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on October 07, 2016, 01:37:42 PM

For anyone who may be curious, the rep did up my card to 5 (the limit for this issuer).  They did caution that 5 could lead to the card being shut down and offered to do less.  I'm sticking with 5 for now.  I may go down if I start getting a lot of activity.

why not just set the activity level on what they recommend. they are pretty versed in what it takes to keep you going in the system and a couple extra users vs a couple extra years of users is quite different.

I did.  Maybe my post wasn't clear.  Their limit (5) is what I went with but they cautioned me against it.

what bank is it.  their general "limit" for all banks is five if you ask them to do it they will.  if they are cautioning you against it ... it means they have a lower limit they know is successful b/c of the increased risk at 5 AUs vs a level they have found to be more successful in not shutting you down.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 07, 2016, 02:49:09 PM
what bank is it.  their general "limit" for all banks is five if you ask them to do it they will.  if they are cautioning you against it ... it means they have a lower limit they know is successful b/c of the increased risk at 5 AUs vs a level they have found to be more successful in not shutting you down.

It is barclay.  I asked them to confirm it was 5 but maybe I confused them as much as I have these last couple of posts.  Thanks for your help.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 07, 2016, 05:24:17 PM
what bank is it.  their general "limit" for all banks is five if you ask them to do it they will.  if they are cautioning you against it ... it means they have a lower limit they know is successful b/c of the increased risk at 5 AUs vs a level they have found to be more successful in not shutting you down.

It is barclay.  I asked them to confirm it was 5 but maybe I confused them as much as I have these last couple of posts.  Thanks for your help.

Barclay is five; I have a few enrolled for both myself and my wife.  The most I've gotten on any line yet is 3--maybe that will change in the busier season, maybe not, but I'm fine setting the limit at 5.  They don't have the same potential to cancel based on history the way B of A or Chase does.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 07, 2016, 05:30:19 PM
Thanks guys for the confirmation.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: AM43 on October 11, 2016, 07:31:18 AM
Very interested.
Please post updates if you find companies to recommend.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 11, 2016, 07:32:09 AM
Very interested.
Please post updates if you find companies to recommend.

Definitely will do!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 14, 2016, 04:17:53 PM
OK, I am having trouble deciding and want input from folks here.

I have three US Bank credit cards, all of which have been open about a year:

1.  Flexperks Visa, CL $25K, annual fee $49.
2.  Flexperks AMEX, CL $25K, annual fee $49.
3.  Club Carlson Visa, CL $58K, annual fee $75, 40K bonus points upon renewal.

Options include:

A.  Keep the cards open, pay the annual fee, enroll them with the piggybacking company about a year from now.  Assumes piggybacking still works and I get orders.
B.  Close the cards and avoid the annual fee.
C.  Consolidate the cards to minimize annual fees.

I do plan to apply for a bunch of new cards in about a month to get a bunch of signup bonuses, including versions of these cards - i.e., I hope to churn the signup bonuses.  No guarantee I would get new cards from USBank though, and also may not get the signup bonus if they disqualify me for churning.

I don't need the cards; I have others.  The only reason to keep them open would be for piggybacking opportunities and the 40K renewal points.  And possibly as a source of credit line if I do apply for new USBank cards (i.e., have them shift CL from the existing cards to the new cards).  But I'd rather not do this; it's hard to come up with a story where they would approve a new Club Carlson card and shift CL from an existing Club Carlson card.

The annual fee isn't a big deal; I can certainly afford to pay it.  But of course I don't like to pay them if I don't have to.

US Bank seems to not understand the idea of consolidating cards and shifting credit limits around.  I've had difficulty trying to get them to do these things for me.

So:

1.  What would you do in my shoes?
2.  Any success tips for waiving the AF at USBank?
3.  Any input on whether the Flexperks and/or Club Carlson bonuses are churnable?
4.  For those who have USBank cards enrolled in the piggybacking program...can adding CLs and removing CLs be done online or is it over the phone.  I prefer online.
5.  Will USBank AMEX cards work?  I know true AMEX cards won't, but I thought USBank AMEX might.

Thanks in advance for any input.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on October 14, 2016, 04:28:20 PM
With those limits, you'd more than make up the annual fee by adding one person to your card.  I'd keep them open.

The danger is that US Bank cards will stop working for this in the meantime, but I think I'd take that chance with those cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 14, 2016, 05:40:44 PM
That's a tough call.  I'm not personally opening new cards hoping it lasts two more years (and hope I won't be kicking myself in two years for what), but I might keep it if there was only a year left.  I'd probably try to combine credit on them and just keep one, but you said they were being pains about that.

Given the limits, I'd personally probably take the gamble right now, and risk the $150.  If it's still available, and I think there's a decent chance it will be, a single order more than pays for that.  The fees are small, too.  Not like $450 ones.  Worth paying it to see, in terms of expected value (EV), IMO.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 15, 2016, 07:34:09 AM
That's a tough call.  I'm not personally opening new cards hoping it lasts two more years (and hope I won't be kicking myself in two years for what), but I might keep it if there was only a year left.  I'd probably try to combine credit on them and just keep one, but you said they were being pains about that.

I'm not opening new cards for this, I'm opening new cards for the churn bonuses!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 15, 2016, 07:36:29 AM
That's a tough call.  I'm not personally opening new cards hoping it lasts two more years (and hope I won't be kicking myself in two years for what), but I might keep it if there was only a year left.  I'd probably try to combine credit on them and just keep one, but you said they were being pains about that.

I'm not opening new cards for this, I'm opening new cards for the churn bonuses!

Likewise.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 15, 2016, 08:18:40 AM
That's a tough call.  I'm not personally opening new cards hoping it lasts two more years (and hope I won't be kicking myself in two years for what), but I might keep it if there was only a year left.  I'd probably try to combine credit on them and just keep one, but you said they were being pains about that.

I'm not opening new cards for this, I'm opening new cards for the churn bonuses!

Likewise.

I posted a pretty brutal one in the CSR thread (on a percentage basis, not raw $ total)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 15, 2016, 11:33:16 AM
That's a tough call.  I'm not personally opening new cards hoping it lasts two more years (and hope I won't be kicking myself in two years for what), but I might keep it if there was only a year left.  I'd probably try to combine credit on them and just keep one, but you said they were being pains about that.

I'm not opening new cards for this, I'm opening new cards for the churn bonuses!

Likewise.

I posted a pretty brutal one in the CSR thread (on a percentage basis, not raw $ total)

Right.  I generally open cards for the churn bonuses too; in fact, these three USBank cards that I'm asking about were opened for churn bonuses a year ago.  I'm about to try to open a bunch more for churn bonuses in about a month or so.

I have churn bonus offers for these same cards that are already open that I could apply for again.  But I strongly suspect that I would not be approved if I kept the existing cards open - most people who churn bonuses seem to close the old card before trying to get the bonus again.

But closing these cards to get the bonus again resets the clock on them means I would not reach the 2 year mark to be able to piggyback.  So the question is which is the better use of these cards - as piggybackers or as get-out-of-the-way-of-churning-bonus-ers?

Piggybacking is clearly more lucrative as long as (1) the AF isn't too high, (2) the whole opportunity exists, (3) the cards continue to be usable by the piggybacking company, and (4) if I receive orders on the cards.

Bonusing is lucrative if (1) I can get the cards, (2) I am not disqualified for the bonus (i.e., they are churnable), (3) I can MS to get the bonuses.

In the case of these cards, they are all about a year old, so I would have to pay the $49+$49+$75 = $173 now and again next November, for a total of $346 in fees paid.  I would receive 80K in Club Carlson points; not sure how much I value those.  At that point I could, as long as the program still exists, enroll them as piggybackers, and could probably get orders in tax season spring 2018.

...

Huh, just looked up what Club Carlson points are supposedly "worth", and a blog post puts them at 0.4 cents per point, which would be 32,000 cents, or $320.  Not sure I believe that, especially since the AF on that card would only net USBank $150 from me.

...

Still curious if anyone knows if USBank card AUs can be added online or only by phone.

....

I'm leaning towards keeping them and trying to get the AF waived or reduced.

...

P.S. - The $450 CSR is on my list for my next set of applications, as are a number of other Chase cards, but I am probably disqualified by 5/24 on many of them.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: JLee on October 17, 2016, 09:45:11 AM
Has anyone had success with Chase cards?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MsFrugalista on October 17, 2016, 11:00:07 AM
Has anyone had success with Chase cards?

Are you referring to adding Chase cards? I have one added (with 20+ CL) and it's the only card that gets slots sold each month. I have yet to get paid (I just started a couple of months ago), but it's a card I use frequently, so hopefully they have no problems with it posting to the individual's credit report.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: JLee on October 17, 2016, 11:51:57 AM
Has anyone had success with Chase cards?

Are you referring to adding Chase cards? I have one added (with 20+ CL) and it's the only card that gets slots sold each month. I have yet to get paid (I just started a couple of months ago), but it's a card I use frequently, so hopefully they have no problems with it posting to the individual's credit report.

Yeah - I didn't see them mentioned in arebelspy's list earlier. All of my high limit / long term accounts are Chase.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MsFrugalista on October 17, 2016, 12:00:38 PM
Has anyone had success with Chase cards?

Are you referring to adding Chase cards? I have one added (with 20+ CL) and it's the only card that gets slots sold each month. I have yet to get paid (I just started a couple of months ago), but it's a card I use frequently, so hopefully they have no problems with it posting to the individual's credit report.

Yeah - I didn't see them mentioned in arebelspy's list earlier. All of my high limit / long term accounts are Chase.

Looks like they may no longer be accepting Chase cards (?) The company sent me an updated FAQ and Chase does not appear to be on their list of qualified CCs. Maybe those who had their Chase cards accepted previously are grandfathered in and they continue to accept them? Guess you're out of luck with this one.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 17, 2016, 12:38:33 PM
I think Chase is off the list for new enrollments.  They were more prone to adverse action.  I think that is noted somewhere in this lengthy thread but couldn't find it easily.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MasterStache on October 17, 2016, 01:23:41 PM
Wow I am really late to the party. Wish I had seen all this back in July. Busy enjoying my LOA I suppose. I have a USAA card that's about 15 years old with over 10K limit. And a couple other cards hitting the two year mark next year.

Arebelspy are you still taking PMs? I know they aren't accepting any new accounts until January. Would still like to check out the company in the meantime.
Thanks!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: afuera on October 17, 2016, 01:42:10 PM
I still haven't gotten any sales yet.  I only have one card listed though which is a 2.5 year old 20K discover card. *pout*
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Migrator Soul on October 17, 2016, 01:58:03 PM
I still haven't gotten any sales yet.  I only have one card listed though which is a 2.5 year old 20K discover card. *pout*

I'd be willing to bet they are fairly inundated with cards at the moment.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: afuera on October 17, 2016, 02:02:58 PM
I still haven't gotten any sales yet.  I only have one card listed though which is a 2.5 year old 20K discover card. *pout*

I'd be willing to bet they are fairly inundated with cards at the moment.
Yea, it would seem like they are.  I've had mine up since August though so I was hoping for at least one sale.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Migrator Soul on October 17, 2016, 03:39:23 PM
I still haven't gotten any sales yet.  I only have one card listed though which is a 2.5 year old 20K discover card. *pout*

I'd be willing to bet they are fairly inundated with cards at the moment.
Yea, it would seem like they are.  I've had mine up since August though so I was hoping for at least one sale.

I think it will be this way for a good year or so. Too many fingers in the cookie jar.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 17, 2016, 06:39:37 PM
Not quoting, on phone, but replying to last few comments.

Re: Chase.  Yes, they do Chase sales, but stopped accepting new Chase cards due to higher chance of them being shut down, they didn't want to deal with it--just decided to take what they call the "premium" cards, ones that basically haven't had issues ever.  If you have a Chase card enrolled, you're more than free to keep selling spots on it.

Re: Lack of sales.

I've definitely seen less sales since a bunch of Mustachians jumped in.  I am getting some referral commissions--thanks those who used me as a referral!--but it's still not enough to make up for the less sales.  Thought about keeping it to myself, but don't think I'd feel right about that.  Especially because it's a net win for most Mustachians--i.e. I'm losing some sales to other Mustachians, but so are all the other investors enrolled in the program who aren't Mustachian.  I like the idea of all that extra income going to Mustachians to reduce their time to FIRE or help mitigate sequence of returns risk for those FIRE'd, rather than some consumer who has a bunch of CCs enrolled because they wasteful spend all the time.  :)

Still seeing okay sales, a few a month, still on track for the 20k/yr in title, and that's held steady for the last few months but Sept/Oct definitely lower than June/July/Aug before everyone jumped in.  On track for that 20k, but down from the potential 40k listed (though that also has to do with pulling my Chase card from it, due to it having the higher risk of being shut down).

I'd probably estimate you'll get 1-2 sales/mo/card.  So if you have 5 cards times 1.5 sales per month each, times 225 commission times 12 months (assuming the card isn't capped at 2 lines for two months, otherwise it'd have to average to one sale/mo), that's 20k.  The wife and I are seeing about that total, combined (with a few more cards enrolled, but several of them somewhat poor--just at the 10k level, and just barely over 2 years old).

But yes, those of you noticing less sales, definitely the case.  Spent a few hours researching and email more tradeline companies the other day.  Disappointing how few got back to me, and the ones that did.. meh.  But I'll keep looking, and share if I find any.  I'm totally willing to drop the lines available down from 5 to, say 2-3 with the current company, and another 2-3 (totalling 5 between them) with a new one, to try and get more overall sales.  Just haven't found another good one yet.  PMs still welcome on this topic.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on October 18, 2016, 05:04:28 AM
Has anyone with a Discover card had to upload documents to add an authorized user?  If so, is there a link on the Discover site that allows you to upload?

I got an email that just says "Within ten days, please send verification for your Authorized User(s). Documents needed along with acceptable examples can be found by signing into the Account Center."

I cannot find this list anywhere, and don't know where they want me to send this.  Do I do a secure message?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: merula on October 18, 2016, 09:50:49 AM
Has anyone with a Discover card had to upload documents to add an authorized user?  If so, is there a link on the Discover site that allows you to upload?

I got an email that just says "Within ten days, please send verification for your Authorized User(s). Documents needed along with acceptable examples can be found by signing into the Account Center."

I cannot find this list anywhere, and don't know where they want me to send this.  Do I do a secure message?

I had this happen. (First sale woooooo!) The company had uploaded the documents I needed to their site (DL and SS card), I just needed to download them and upload them on Discover's site. Took about 3 minutes.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Richie Poor on October 18, 2016, 09:52:44 AM
Has anyone with a Discover card had to upload documents to add an authorized user?  If so, is there a link on the Discover site that allows you to upload?

I got an email that just says "Within ten days, please send verification for your Authorized User(s). Documents needed along with acceptable examples can be found by signing into the Account Center."

I cannot find this list anywhere, and don't know where they want me to send this.  Do I do a secure message?

I think that is common with Discover. If you go to "Manage Authorized Users" you should see a list of the AUs on the card. Under the new AU you will see an option to upload the documents.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on October 18, 2016, 09:57:47 AM
Hmm, my problem is that this authorized user isn't showing up in my list on Discover now

Never mind, the option to upload is showing up now.  Maybe they were in the process of making it available last time I logged on.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: hoping2retire35 on October 18, 2016, 01:18:53 PM
just got an automatic credit line increase on discover, getting closer to that magical $20k credit limit!

I think someone mentioned before but if they do it automatically do you have to wait 6 months(or whatever) to request another credit increase?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 18, 2016, 02:28:05 PM
just got an automatic credit line increase on discover, getting closer to that magical $20k credit limit!

I think someone mentioned before but if they do it automatically do you have to wait 6 months(or whatever) to request another credit increase?

I seem to get auto increases sometimes from Discover, so this may not as helpful.  I had a CLI in March and must have had another one between July and September.  (I cannot find an email to nail that down).  This is less than 6 months of course, so worth a shot possibly.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: afuera on October 18, 2016, 03:41:39 PM
just got an automatic credit line increase on discover, getting closer to that magical $20k credit limit!

I think someone mentioned before but if they do it automatically do you have to wait 6 months(or whatever) to request another credit increase?

Both my husband and I requested CLI twice within one month with Discover.  The first time we called in and were approved over the phone (5K->14K, 7K->15K).  About two weeks later I requested another increase using the online method just to see if it would work and it did! (14K->21K).  After it worked for me, I told my husband to try and it worked for him as well (15K->21K).  Not sure why or how just some anecdotal experience.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 18, 2016, 04:26:07 PM
just got an automatic credit line increase on discover, getting closer to that magical $20k credit limit!

I think someone mentioned before but if they do it automatically do you have to wait 6 months(or whatever) to request another credit increase?

I seem to get auto increases sometimes from Discover, so this may not as helpful.  I had a CLI in March and must have had another one between July and September.  (I cannot find an email to nail that down).  This is less than 6 months of course, so worth a shot possibly.

Another data point that might help others.. I just did a CLI on the web site out of curiosity.  Went up another 3k.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 18, 2016, 05:46:34 PM
just got an automatic credit line increase on discover, getting closer to that magical $20k credit limit!

I think someone mentioned before but if they do it automatically do you have to wait 6 months(or whatever) to request another credit increase?

I got one after about 2 months.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 19, 2016, 07:48:42 AM
I just did another round of credit line increases today, since it had been a few months...

Got 2 yesses from Discover, 2 yesses and 2 nos from Bank of America, 2 yesses and 1 no from Barclays, and 1 no from Capital One.

Also then shifted some credit around to hit higher payment limits for adding AUs.

Just a reminder for those of you that enrolled in July, it's about time to request again.

Conventional wisdom says typically wait 3 months, but my last date I did all my requests was July 27, so it's been just under 3 months for me, but I got impatient, and I got 6 yesses, and 4 nos (and the 2 nos from B of A I think were from just getting an increase on another card, cause with both of us, the first card increase was accepted, the second was rejected, so I feel like more like a 6-2 ratio).

So don't forget to keep pushing those limits up.  If you're adding an AU, might as well try to get as much money as possible for it (and even if it doesn't bump you to the next bracket, hopefully the higher limit attracts more people for more sales--e.g. an 18k card pays the same as a 10k, but might get more sales since it's towards the top of its 10-20k bracket).  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on October 19, 2016, 08:07:31 AM
I just did another round of credit line increases today, since it had been a few months...

Some banks do a hard pull from a credit bureau when you request an
increase to your credit limit, which can have a minor, short-term (2 year)
negative effect on your credit score.

I have about 6-8 hard pulls per year while maintaining an excellent credit
score, but it's worth keeping track if you're requesting multiple CL increases.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on October 19, 2016, 08:10:38 AM
yeah i'm hoping for some good sales at the end of this month have 2 BofAs that are over 30k now. 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on October 19, 2016, 08:11:24 AM
I just did another round of credit line increases today, since it had been a few months...

Some banks do a hard pull from a credit bureau when you request an
increase to your credit limit, which can have a minor, short-term (2 year)
negative effect on your credit score.

I have about 6-8 hard pulls per year while maintaining an excellent credit
score, but it's worth keeping track if you're requesting multiple CL increases.

i have 20+ and maintain an excellent credit score. hard pulls dont affect your credit to badly.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 19, 2016, 08:21:06 AM
I just did another round of credit line increases today, since it had been a few months...

Some banks do a hard pull from a credit bureau when you request an
increase to your credit limit, which can have a minor, short-term (2 year)
negative effect on your credit score.

I have about 6-8 hard pulls per year while maintaining an excellent credit
score, but it's worth keeping track if you're requesting multiple CL increases.

True.  Thanks for the reminder!

I usually have 7-12 inquiries at any given time, and a score of around 800, +/- 10.

I have no use for my credit right now, other than travel hacking/churning and tradeline sales, so I'll take the small hit to get paid via these methods to use my credit.  What's the point of an 830, 840 score or whatever if you don't use it?  I'd rather have 800, and be getting use out of it.  :)

Though it is a good thing to keep in mind, if you're going to be using your credit for a house purchase or something, you'll want to monitor it carefully.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Smokystache on October 19, 2016, 05:33:18 PM
Has anyone with a Discover card had to upload documents to add an authorized user?  If so, is there a link on the Discover site that allows you to upload?

I got an email that just says "Within ten days, please send verification for your Authorized User(s). Documents needed along with acceptable examples can be found by signing into the Account Center."

I cannot find this list anywhere, and don't know where they want me to send this.  Do I do a secure message?

I think that is common with Discover. If you go to "Manage Authorized Users" you should see a list of the AUs on the card. Under the new AU you will see an option to upload the documents.

I've had to upload additional documents twice with Discover so far. I had one image of a Soc Sec Card that I tried to upload about 5 times over the course of a few days. Finally used a photoshop-like program to reduce the size of the image file from about 2.4MG to about 700kb. And then it uploaded immediately on the next try. Could be coincidence, but it may save you some time. Discover doesn't say anything about file sizes on that page, but I suspect their uploader doesn't like big files.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on October 19, 2016, 08:11:19 PM

I've had to upload additional documents twice with Discover so far. I had one image of a Soc Sec Card that I tried to upload about 5 times over the course of a few days. Finally used a photoshop-like program to reduce the size of the image file from about 2.4MG to about 700kb. And then it uploaded immediately on the next try. Could be coincidence, but it may save you some time. Discover doesn't say anything about file sizes on that page, but I suspect their uploader doesn't like big files.

After you uploaded the file, how long did it take for the authorized user to show up as approved in your account?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 19, 2016, 08:36:41 PM
I was unclear if they were accepting new cards from existing investors, so I emailed them.  Unfortunately, new cards are on hold until January for everyone.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on October 19, 2016, 08:47:27 PM
I was unclear if they were accepting new cards from existing investors, so I emailed them.  Unfortunately, new cards are on hold until January for everyone.

Yeah, I found out the same thing when trying to add a new card :( hopefully they have more room in January!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 19, 2016, 09:25:17 PM
I was unclear if they were accepting new cards from existing investors, so I emailed them.  Unfortunately, new cards are on hold until January for everyone.

Ah.  I haven't had a card age from under two years to over two in the last few months, so I wasn't sure on that (if only new investors is closed, or new cards from current investors as well. Thanks for the information (and confirmation, kudy).

Still can up the limits on currently enrolled cards, just got the email confirmation that mine bumped up in the system.  Response time seems pretty back to normal, too.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Richie Poor on October 20, 2016, 10:36:01 AM

I've had to upload additional documents twice with Discover so far. I had one image of a Soc Sec Card that I tried to upload about 5 times over the course of a few days. Finally used a photoshop-like program to reduce the size of the image file from about 2.4MG to about 700kb. And then it uploaded immediately on the next try. Could be coincidence, but it may save you some time. Discover doesn't say anything about file sizes on that page, but I suspect their uploader doesn't like big files.

After you uploaded the file, how long did it take for the authorized user to show up as approved in your account?

After uploading the documents I received a call from Discover the next day to confirm the AU. Right after the call I logged into the Discover website and the AU showed it was approved.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on October 21, 2016, 05:37:02 PM
Just got an email about them reducing payouts to better compete with other companies.

This price change will take effect on December 1, 2016 and will adjust the pricing for all future cards, as well as cards currently in the system, including grandfathered pricing and personalized quotes. All cards will also be placed on the 2-month cycle schedule to meet the demand by clients and work with the increased verification time required by issuers such as Discover. The pricing below is the commission schedule for all cards and represents the total amount paid for the 2-month cycle, not price per month.
 
All cards, 2-Month Cycle Commission:

Limit less than $10,000 or less than 2 years old - $75 per spot (only for tradelines already in the system; not accepting new tradelines in this tier)
Limit $10,000 – $20,000 and 2+ years old – $125 per spot
Limit $20,001 – $30,000 and 2+ years old – $175 per spot
Limit $30,001 – $40,000 and 2+ years old – $200 per spot
Limit $40,001 or more and 2+ years old – $225 per spot


This is a pretty huge change.  I was getting $100 per spot per month on my Discover card, now I'll be getting $37.50.  Looks like this deal may be dead.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: danielsan on October 21, 2016, 05:37:58 PM
The gravy train has ended...  Mustachians have flooded the market with supply and they're taking advantage of that by slashing payouts.

Per e-mail:

Quote
Update to Current Commission Schedule for All Investors.
Good afternoon Investors! As many of you have experienced, we have hit a slower sales period. The industry is vastly different than it was a year ago. New investors and companies have flooded the market industry-wide and as a result, our pricing is no longer competitive. In order to increase sales, we have had to make the tough decision to decrease our prices on all accounts, including investor commission.
 
This price change will take effect on December 1, 2016 and will adjust the pricing for all future cards, as well as cards currently in the system, including grandfathered pricing and personalized quotes. All cards will also be placed on the 2-month cycle schedule to meet the demand by clients and work with the increased verification time required by issuers such as Discover. The pricing below is the commission schedule for all cards and represents the total amount paid for the 2-month cycle, not price per month.
 
All cards, 2-Month Cycle Commission:

Limit less than $10,000 or less than 2 years old - $75 per spot (only for tradelines already in the system; not accepting new tradelines in this tier)
Limit $10,000 – $20,000 and 2+ years old – $125 per spot
Limit $20,001 – $30,000 and 2+ years old – $175 per spot
Limit $30,001 – $40,000 and 2+ years old – $200 per spot
Limit $40,001 or more and 2+ years old – $225 per spot

To protect our current inventory of cards, we have closed our enrollment period for any new cards from new or current investors until January 2017, which is typically our highest sales season, at which time we will evaluate reopening our card enrollment period, first for current investors, then for new investors. Our current requirements will remain the same for all incoming cards: at least 2 years old, at least $10,000 credit limit, and only cards issued by Barclay, Citi, Discover, PNC, US Bank, or USAA.
 
Existing referral commission will remain the same, however any future referrals brought in will receive a reoccurring referral commission of $25 per spot per cycle for any card that qualifies.
 
Additionally, Chase has begun to exhibit the highest shut down rate, as well as the lowest posting ratio of all our cards, so we will be removing all Chase lines from our inventory by December 1, 2016. All current orders on Chase cards with a removal date after December 1, 2016 are still active orders and must be left on the tradeline until the removal date. Orders removed early will be subject to nonpayment.
 
We value you and wish to keep you, but we understand that these changes may cause some of you to consider leaving this program. If you wish to do so, we ask that you honor your commitment to your current clients on your cards and not remove them until after the removal date, otherwise we will be unable to pay you for only partially completed orders and you would not be accepted back into the program in the future.

If you do complete your orders fully and decide to leave the program, you are welcome back at any time. However, please note, we are the only company that has a third party verification process for our clients that protects you from fraudulent users, which will quickly shut down your cards. That is why we have the lowest shut-down rate of any tradeline company.

We understand this may be an unpopular change, however it is a necessary action to stay competitive in this changing market and we project this move will decrease shut downs, help ensure higher posting ratios, and increase overall sales.
 
If you have any questions or concerns about the new policy, please email or call and we’d be happy to address your concerns. If you do not have any questions or concerns, all changes will take effect December 1 and no further action on your behalf is required.
 
Thank you for your time.

[Mod Note: Removed company name.]
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on October 21, 2016, 06:03:35 PM
This new commission schedule reflects more closely what the other tradeline companies are paying their investors.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Fireball on October 21, 2016, 06:20:04 PM
Bummer. Supply and demand at its finest. I know of two other companies that pay $150 per AU on 2+ yrs and +$20k so guess I'm moving my cards over.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: solon on October 21, 2016, 06:51:16 PM
Following... a bit late.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 21, 2016, 08:07:44 PM
Huge bummer.

The 10k-20k tier cards are the most common ones, so going from $225 to $125 per spot is a bummer ($100/mo hit). But the bigger hit is the custom ones.  I have a B of A at 45k limit paying $400/line... now just $225 (a $175/mo hit).

I'm sure I'm hit more than most people, having 10+ cards in the program between the wife and I, and I'm betting this may not have happened if I didn't refer all these Mustachians.  But I'm still glad I did.  I got one PM in particular a few days ago about how someone I had referred in August was putting the funds to really good use towards medical bills that totally made it worth it.  I'm guessing a few I shared this with initially (in my journal) wish I hadn't started this thread though.  :P

It's worth noting that the biggest jump between tiers is when you bump over 20k+ (it's a $50 payment jump, the others are $25).  REALLY worthwhile to ask for credit line bumps, move credit around, etc. to hit that 20k tier.



This new commission schedule reflects more closely what the other tradeline companies are paying their investors.

Yeah.

I spent a few hours last weekend emailing a BUNCH (a dozen+) different tradeline companies.  I was merely hoping to find a company I could feel comfortable recommending to the people still emailing me for a referral for the next few months, until January, and possibly after in case this company didn't open back up to new investors in January.

The disappointing thing is that most of the tradeline companies didn't even get back to me.  And many other ones have lower commissions--even now, after this decrease with this company, they're lower ($100/order, some even less).

Now I will be increasing the search, to see if there are other alternatives for us to move to for better commissions.  The company I'm using right now is the one I'm most comfortable with based on their protections and procedures, but also happened to be the highest paying.  Now it'll be a determination of if the lower pay is worth less risk, or vice-versa.

For example--if I can get $150 from a shady company (theoretically), or $125 from a good one... I'll probably take the $125 and good company.  It'll cost me about 16%, so a few thousand dollars over the course of a year (a few hundred bucks if you only have a tradeline or two), but I'll feel more comfortable knowing the identity of the AU is verified, so the amount of fraud will be much less likely, the chance of my cards being cancelled will be much less likely, and the chance the company isn't fly-by-night, but will still be around come tax season to issue the 1099, etc.

That's probably worth the tradeoff in costs.

If another company was offering a lot more though, not just a $25 difference...I'd have to think about it.  Riskier, but possibly worth the risk.  Maybe enroll a few cards I care less about.

For now, I'm planning to continue with the same company, and keep researching alternatives.

Summary: This will obviously be a big hit in terms of income--I'll personally be going from current estimates of 20-25k annually to maybe 12k (guessing on this.. we'll see how it falls out).

The decrease won't stop me from continuing.  I'll keep looking for alternate companies (as above; and will post here if I find something),  but it's still a $125+ payment for the amount of work to go online, spend 5 minutes adding the AU, then spend 5 minutes removing them a few months later.  The hourly wage dropped from like $600 per hour to $350 per hour, or something like that.

Disappointment is about expectations, and so it's a bummer it just fell, but if it had been this price originally, I'd still have signed up, and still be ecstatic about the essentially free money.  If it had been lower, I likely would have signed up, and if they had just boosted it to this, I'd be thrilled.  So, all in all, I'd like to make as much as possible, but I'll still be happy making what I can, given it's basically no work, and fairly low risk (with this company) of any shutdowns, fraud, etc.

And I'll cross my fingers it lasts.  If it stays even at this lower tier, but lasts another year, I'll be happy.  Whatever I can collect, if it eventually ends (as it will, I'm sure), I'll count it as free money, and move on.  To date, I've gotten paid about $5500 (for 2.5 months--half of June, July, Aug), with another $2500 coming in about a week (for Sept).  That's what I'd consider a successful side-gig, even if it ended tomorrow.  This lower tier will slow it, but 10k/yr for maybe an hour of "work" per month?  I'm still okay with that.  Much easier to look on the bright side in this situation than actual bad ones.

:)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TheAnonOne on October 21, 2016, 11:37:48 PM
Oddly enough, this change might actually MAKE me money.

I had a 3 year 26k cap1 card in since July, with NO SALES. Maybe the price drop will make it happen...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HAPPYINAZ on October 22, 2016, 06:57:00 AM
So sad :(   My custom quote goes from $500 to $200.....ugh.

Sorry Arebelspy for your loss due to you generously sharing the info.  At least you still get the same amount for referrals!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Rubic on October 22, 2016, 07:14:41 AM
Huge bummer.

Heh.  It could and probably will get worse.

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

We're probably seeing this occur anyway in slow motion with the tradeline
competitors forcing a shift toward gradually lowering compensation rates
to investors.  Markets deplore a vacuum.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on October 22, 2016, 09:12:10 AM
It may, if they are lowering their prices, increase the volume of sales a bit at least. Will be interesting to see how it plays out!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 22, 2016, 04:35:42 PM
Huge bummer.

Heh.  It could and probably will get worse.

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

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

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

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

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

Oddly enough, this change might actually MAKE me money.

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

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

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

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

Regardless, enjoying the ride.  It'll make for fun stories one day (like if you got to participate in the "gold coin" manufactured spending).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 22, 2016, 06:42:16 PM
Interesting. Apparently the tradeline company is in a significantly different timezone than I am. I was supposed to remove a user on 10/22, which is today for me in Texas. However, this evening the name was already replaced on the Tradeline page with "Purged Purged"  before I had even removed them. I went ahead with the removal with my CC company and then on the Tradeline page, where the removal date shows as 10/23.

[Mod Edit: Site name removed.]
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 22, 2016, 08:44:53 PM
Interesting. Apparently the tradeline company is in a significantly different timezone than I am. I was supposed to remove a user on 10/22, which is today for me in Texas. However, this evening the name was already replaced on the Tradeline page with "Purged Purged"  before I had even removed them. I went ahead with the removal with my CC company and then on the Tradeline page, where the removal date shows as 10/23.

I don't know when they do the "Purged Purged" thing, but I don't think that particular part is a TZ issue.  I have an AU that I am supposed to remove on 11/18, and it's already showing "Purged Purged".
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 22, 2016, 09:47:39 PM
Interesting. Apparently the tradeline company is in a significantly different timezone than I am. I was supposed to remove a user on 10/22, which is today for me in Texas. However, this evening the name was already replaced on the Tradeline page with "Purged Purged"  before I had even removed them. I went ahead with the removal with my CC company and then on the Tradeline page, where the removal date shows as 10/23.

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

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

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

The easy way to check the name (if you want because you have to call to remove them--IMO it seems less suspicious to know the name you're removing) is to copy/paste the order ID (which stays on the site, not purged) into your email.  The commission statement were emailed has that order ID and will have the name.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 22, 2016, 11:27:07 PM
I'll still be happy getting $225 a month on my one remaining card. It's not $400, but it's practically free money. No complaints here.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 23, 2016, 11:18:51 AM
This news from the tradeline company is exactly why I (A) jumped on it immediately for myself, (B) cringed a little because I knew advertising this gig would accelerate its partial demise, and (C) expressed some doubt about keeping cards and paying annual fees in case this gig were not to be around in another year.  On that last note, I have decided to keep the cards and try to get the AFs waived.

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

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

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

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

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

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

Main point:  there will always be deals.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on October 23, 2016, 11:39:40 AM

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


Damn, you are crazy.  That is some impressive stuff.  I only wonder what the next opportunity will be in case this tradeline stuff completely dies out.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 23, 2016, 11:48:07 AM

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


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

If the money is sitting in the bank (well, banks) earning interest - it doesn't seem that risky.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 23, 2016, 03:53:16 PM
^ Well, it does get a little scary when one has $250K sitting in IndyMac when they were taken over by the FDIC at a time when the per account FDIC limit was $100K.  Fortunately, I had structured my accounts in a way that protected me and I got every dime back.  But yes, it is perfectly safe as long as one makes no serious mistakes.

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

And on the "breaking eggs" thing.  Part of the reason I was able to do $540K was that I ignored the people who told me I was  taking on too much risk and would get adverse action.  Not that I was naive to think it wouldn't happen to me, but in my case the downside risks were ones I was willing to take in order to try to get more.  And it turned out well - I think I had one small adverse action when people were expecting calamity.  My point here is that people can sometimes take things further than they think if they're just willing to step outside the box a little.  It freaks many people out when I tell them I have 22 credit cards, because that is outside the norm.  But 22 credit cards are easy to manage if you have a system and are well organized and take advantage of automation.  And after a while one gets used to being weird - like FIREing at age 46.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 23, 2016, 04:41:56 PM
Damn 2Cor521.  Respect.  :D
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 23, 2016, 04:50:29 PM
Mutual, ARS.  :D
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 23, 2016, 05:00:32 PM
If anyone wants to be amused by my antics, feel free to read:

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

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

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

I was into it a lot more back then.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 23, 2016, 06:11:49 PM
If anyone wants to be amused by my antics, feel free to read:

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

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

I do admire the ingenuity described here, though...wow!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 24, 2016, 05:46:17 AM
Another Tradeline site glitch. "Purged Purged" has reappeared, so I clicked "Removed" again and got another removed date.

Sent an email detailing the glitches, and a separate email inquiring about whether higher/custom rates could still be available for older cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: medinaj2160 on October 24, 2016, 02:13:14 PM
So which company can I sign up to sell my tradelines? I cannot find any links on the thread.

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

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

The top of the first post has more details on when more info will be available (2017 with the current company, earlier if another good one is found).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: medinaj2160 on October 24, 2016, 06:55:29 PM
Thanks arebelspy. I will PM you in 2017 :) or please let me know if you find another company. I was away from the forums for sometime and missed this opportunity :/
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frozen on October 25, 2016, 12:37:23 PM
I have been renting my tradelines with the company you are discussing for about 1 1/2 years. I got the email over the weekend about the changes in compensation and new competitors hitting the market.  I am disappointed since I have more cards that will be hitting 2 years of age soon and I would like to include them. But I like the company I am working with and have yet to find others that seem as professional and credible.

I find it surprising that there is a surplus of investors with high credit limits and long credit histories.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 25, 2016, 06:38:53 PM
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

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

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on October 25, 2016, 06:47:48 PM
Is  it the same company that I was looking at too Arebelspy ?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: BikeFanatic on October 26, 2016, 02:10:52 PM
Thank you for testing the waters!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: medinaj2160 on October 27, 2016, 10:11:05 AM
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

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

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

Excellent. Please PM us the name of the company when you feel confident that it will work out.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 27, 2016, 10:29:41 AM
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

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

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

How does their list of acceptable cards differ from the company we're all using?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: AM43 on October 27, 2016, 10:33:09 AM
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

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

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

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

+1
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Johnny Aloha on October 27, 2016, 10:38:51 AM
Made good progress on finding another company--just spent 2 hours 40 minutes on the phone with the owner.

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

Gonna test out enrolling some cards with them.

Stay tuned.

I will update as soon as I can.  :)

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

+1

+2!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 27, 2016, 02:59:37 PM
Thank you for testing the waters!

+1
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 27, 2016, 04:58:17 PM
I definitely will keep you guys in the loop!

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

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

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

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

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

And I'm letting them know it.  ;)

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

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

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

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

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

But, like I said, a few weeks.  It'll be as fast as I can, but some of it is waiting and evaluating how it goes.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 27, 2016, 05:13:03 PM
ARS, thanks for the work on our behalf.

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

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

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

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

Thanks again!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 27, 2016, 05:19:42 PM
ARS, thanks for the work on our behalf.

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

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

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

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

Thanks again!

100% agree.

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

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

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

And I'm definitely bringing up the custom quote issue with every company (including the current one)--it may end up with that I have a different recommendation for large lines of credit than smaller ones, or something, but that's definitely a factor I'm looking at, too.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 27, 2016, 10:24:16 PM
@arebelspy -does new company block /accept a similar card list? I.e. do they not accept chase?

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


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

Very similar list, yes.

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

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

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

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

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

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

The odd thing is, I find it fun.

Maybe it fulfills some of this need for me:
http://forum.mrmoneymustache.com/post-fire/i-miss-the-math/ (http://forum.mrmoneymustache.com/post-fire/i-miss-the-math/)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on October 28, 2016, 05:50:55 PM
Question regarding Barclays cards...

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

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

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

Thank you for bringing this to our attention. We are aware of the change. If you've added the authorized user online it should still report since they accept date of birth, name and address. We are in the process of updating our procedures to reflect this change.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 30, 2016, 01:29:57 AM
When you call the credit card company to delete an authorized user, what do you say if/when they ask for a reason? Or, do they never ask?

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

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 30, 2016, 03:07:13 AM
I've never had them ask. If they asked why I'm removing them, I'd just say I didn't want them to be an authorized user anymore.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: TomTX on October 30, 2016, 06:32:40 AM
I've never had them ask. If they asked why I'm removing them, I'd just say I didn't want them to be an authorized user anymore.

When they have given me the warning about needing to retrieve the card, I tell them "Yes, I have already retrieved and shredded the card"
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on October 30, 2016, 06:57:01 AM
I've never had them ask. If they asked why I'm removing them, I'd just say I didn't want them to be an authorized user anymore.

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

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

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HipGnosis on October 31, 2016, 05:00:00 PM
I just got a flyer in the mail from CITI.
They're encouraging me to add authorized users to my Double Rewards card!
"To earn cash back faster"!
No mention of relative or living in household.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on October 31, 2016, 05:33:59 PM
Just a PSA in case there is anyone else out there in my shoes:

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

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

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

Personally I am leaning towards keeping the gig income and not trying to qualify, but others may decide to plan differently.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 31, 2016, 06:57:31 PM
That's a good point.  It is income, and will affect things like ACA subsidies, anything like that.

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

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

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

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

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


ETA: Got an email 11/1 detailing my September payment. It isn't coming through pay*.com for some reason, and didn't post (yet) so I'm being prepaid with the understanding that I leave the card (which is on a 2-month cycle) authorized until later this month.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on October 31, 2016, 11:55:03 PM
Hmm...I had a Sept. sale, so if I didn't get paid, does that mean it didn't post correctly? Is that how you find out that it didn't go through, or is there some other indication?

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

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

In any case, I'd just email the customer service.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on November 01, 2016, 08:06:43 AM
well i've moved 2 cards to another site for now see how it goes.  i havent gotten any adds this month from the site we overloaded.  i guess i could see some today but i doubt it. new site says they will have no problem filling me up monthly
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on November 01, 2016, 11:41:35 AM
well i've moved 2 cards to another site for now see how it goes.  i havent gotten any adds this month from the site we overloaded.  i guess i could see some today but i doubt it. new site says they will have no problem filling me up monthly

boarder42, do you mind sharing the age / limit / commission structure of the different site?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on November 01, 2016, 12:00:30 PM
they are the same commission for limits but they took my 1 year old cars and said they could get me a couple signups on those and then max them when they turn 2.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on November 01, 2016, 12:57:16 PM
If you think they are trustworthy, could you PM me the info, and any referral information I should use?

I have a couple of 1 year old cards (mentioned earlier in this thread) that I wouldn't mind enrolling while waiting for them to qualify for the first company.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MasterStache on November 01, 2016, 01:00:13 PM
If you think they are trustworthy, could you PM me the info, and any referral information I should use?

I have a couple of 1 year old cards (mentioned earlier in this thread) that I wouldn't mind enrolling while waiting for them to qualify for the first company.

+1
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 01, 2016, 04:35:10 PM
Just FYI, I'd proceed cautiously with the company boarder is using.  They're one of the ones I'm checking out as well, but... well, I'll wait to publish my analysis of all of them, but, just be cautious. :)

There's a reason why I'm not jumping into recommending a bunch of other potential companies.

One reason for this, FWIW, is
1) Higher risk of getting a card shut down.

2) Any cards you use with another company can't be used with the current recommendation later.

Or, if you unenroll any cards from the current company to use with another tradeline company, you can't re-enroll them later (you can temporarily pause/take them out and reenroll them, if you don't use them with anyone else).

Essentially this is due to the verification procedures the current company uses that other companies do not.  If the other companies put AUs on there that are not verified, it could lead to higher shutdowns later.  Basically, the first company does not want you adding unverified AUs with other companies, potentially red flagging the card, then enrolling it with them, where when you add AUs, it then gets shut down mid-cycle, they have to refund the AU, etc.  Extra hassle and cost.  They want "clean" cards that haven't had potentially shady, unverified out AUs (or just AUs that they've verified).

Email customer support of the current company for more details, or PM me, and I can quote stuff from our conversations around it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 01, 2016, 04:42:39 PM
Very helpful info, ARS, thanks. I don't want to mess with the good situation with your originally recommended co., which is still a good amount of $$ for very little work. So it's good to know how one could be shooting off one's foot by doing too much shifting around.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on November 01, 2016, 05:01:00 PM
Wondering what some of you would do in this situation.  I have a Discover card grandfathered in under the $10k limit, and I just got a credit limit increase to $9500. 

Would you leave it at $9500 and presumably fill up the spots every month because it will be one of the most valuable cards under $10k, or increase the credit line when possibly to get a higher commission, but possibly/probably less spots filled?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 01, 2016, 05:06:39 PM
Wondering what some of you would do in this situation.  I have a Discover card grandfathered in under the $10k limit, and I just got a credit limit increase to $9500. 

Would you leave it at $9500 and presumably fill up the spots every month because it will be one of the most valuable cards under $10k, or increase the credit line when possibly to get a higher commission, but possibly/probably less spots filled?

As I said a bit earlier to someone: my primary concern is using a good company.

Everything starts with that, for me.  So if the good company (or companies) won't take a card under 10k, I'd wait a few months for another bump.

If there is a good company that will take < 10k, I'd enroll it with them, and bump it once you can.

In other words, I personally wouldn't enroll it with a subpar company just because a good company won't take it yet, when it's so close to being useful with them for a long time.

Right now, I'd advise you to wait a month or so to see if some of these other companies pan out.  I know it's tempting to try and get money NOW from it, but, IMO, that will pay off in the long run.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 01, 2016, 05:47:50 PM
Data point in case it helps others: My activity has really ramped up with the company that this thread is focused on.  I guess it will be bittersweet when the payouts go down next month.  However, I'll take it while I can get it.  I had 3 sales in the past 3-4 days on the 1 card.  It already had a sale (on month 2), so that brings me to 4 of 5 spots.  The card is right at the 10K limit but it is 8 years old.  I went from 2 spots to 5 in early October.

Hope everyone starts seeing more activity to offset the decreased commissions!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 01, 2016, 05:52:53 PM
Hope everyone starts seeing more activity to offset the decreased commissions!

People leaving the current company may well in fact make that the case!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Fireball on November 01, 2016, 06:06:31 PM
Just FYI, I'd proceed cautiously with the company boarder is using.  They're one of the ones I'm checking out as well, but... well, I'll wait to publish my analysis of all of them, but, just be cautious. :)

There's a reason why I'm not jumping into recommending a bunch of other potential companies.

One reason for this, FWIW, is
1) Higher risk of getting a card shut down.

2) Any cards you use with another company can't be used with the current recommendation later.

Or, if you unenroll any cards from the current company to use with another tradeline company, you can't re-enroll them later (you can temporarily pause/take them out and reenroll them, if you don't use them with anyone else).

Essentially this is due to the verification procedures the current company uses that other companies do not.  If the other companies put AUs on there that are not verified, it could lead to higher shutdowns later.  Basically, the first company does not want you adding unverified AUs with other companies, potentially red flagging the card, then enrolling it with them, where when you add AUs, it then gets shut down mid-cycle, they have to refund the AU, etc.  Extra hassle and cost.  They want "clean" cards that haven't had potentially shady, unverified out AUs (or just AUs that they've verified).

Email customer support of the current company for more details, or PM me, and I can quote stuff from our conversations around it.

How would the current company know if a card has been used by another trade line company?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 01, 2016, 06:13:00 PM
How would the current company know if a card has been used by another trade line company?

They wouldn't, necessarily.

I personally wouldn't re/enroll cards with them given that I know their restriction around it, I don't think it would be right to be dishonest, given that I know they have said this, but if you didn't know, or were willing to just do it anyways, you could.

However, the main point isn't that they don't want to take them, and whether or not you could get away with re-enrolling them anyways, it's the reason why they don't want to take them.  They don't want the hassle of the cards potentially being shut down while they're trying to have AUs on them.  The risk is increased when adding potentially unvetted AUs.

That's the part that I'd consider more carefully than the "their rules say this."  The reason behind the rule, and that, in the long run, it works out better for me to keep cards enrolled for years, rather than risking them on shadier transactions and burning them quickly.

The other risk is that when adding unverified AUs you open yourself up to more risk in terms of fraud (and potentially even liability around that).

I'm sure others will try other things, and I'm looking forward to hearing their experiences.

I'm trying out other companies as well.  I'm just trying to be thorough.  I'd like a good company, with as much stability as possible, as good of payouts as possible, good customer service, and as much protection for me from potential fraud/liability.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: medinaj2160 on November 01, 2016, 07:01:01 PM
Waiting here patiently :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on November 01, 2016, 08:12:49 PM
So I have two cards with the current recommended tradeline company (since August) and I have yet to get any sales, but I'm hoping I will soon.

I have two different cards with the alternate tradeline company that was being discussed, and I just got 2 authorized user spots on one of them. I'm hoping this alternative company works out because they will take credit cards that the current recommended tradeline company won't take, namely my Elan Financial Services Fidelity Rewards Card. Of course, I don't know if it will work out with the alternative company, I sure hope so.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Spitfire on November 02, 2016, 09:19:09 AM
I just wanted to report back about the recommended company from ARS. I signed up with them in August only a few days before my statement date, so I did not get a sale. I got one in September, a Citi affiliate, so I had to add them over the phone. I was able to do this in a few minutes with no problems and no questions asked. Just yesterday I got an email confirming that my tradeline posted and that I would be getting paid in the next day or two. This morning I checked my bank and I see the direct deposit there, pending.

I did not get a sale in October, so only one total so far. Looks like things are a little slow, but the process does work, you do get paid, and it's very little effort. Thanks for this ARS.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on November 02, 2016, 09:48:53 AM
I lurked on some of the tradeline sites to see what they offer to customers. They're all over the place, where packages span from a few hundred to a few thousand.

Then it hit me - why not sell tradelines directly? I could sell to my extended network on FB for example.

But then I went to FB and it felt very spammy to put this offer out there. IDK. Any thoughts?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: .22guy on November 02, 2016, 09:52:46 AM
I got paid this morning. 450 bucks for two sales recently made. Wow, talk about easy money!

Does anyone have a name or listing of appropriate cards for the other TL company?  PM me if needed. Thanks!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MasterStache on November 02, 2016, 09:52:55 AM
I lurked on some of the tradeline sites to see what they offer to customers. They're all over the place, where packages span from a few hundred to a few thousand.

Then it hit me - why not sell tradelines directly? I could sell to my extended network on FB for example.

But then I went to FB and it felt very spammy to put this offer out there. IDK. Any thoughts?

I thought about that as well and came to the same conclusion. I don't think I would be comfortable with it. Plus friends/family + Owing me money = Disaster. Many are in the bad credit situation to begin with because of money issues. I figure it's a good way to ruin relationships.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on November 02, 2016, 12:05:16 PM
I lurked on some of the tradeline sites to see what they offer to customers. They're all over the place, where packages span from a few hundred to a few thousand.

Then it hit me - why not sell tradelines directly? I could sell to my extended network on FB for example.

But then I went to FB and it felt very spammy to put this offer out there. IDK. Any thoughts?

When people were complaining about slow sales and commissions dropping, I did think "well you could just cut out the middle man and do it yourself..."
My next thought is I'm way too lazy to do the marketing and don't care that much..
Hadn't considered the friends and family on FB angle, that would cut out the being lazy part, but like you, I would feel it was spammy, not something I'd put ou. Maybe through word of mouth, or if it came up? I generally don't like to mix friends/family/money: similar to not shitting where you eat.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on November 02, 2016, 12:32:57 PM
When adding AUs, if the CC company asks for an address, do you:

(a) Provide the AU address, figuring that is more likely for the CL to report correctly?
(b) Provide your address, figuring it is safer so that there is less chance an active card will be mailed to the AU?

I just did (a) a minute ago, but am a little nervous about that.

ETA:  Never mind, the company recommends A and says not to worry about B.

Another thing I did was go in and set up email alerts for purchases, figuring if a wacky AU happens, at least I can shut their card down very quickly and limit my liability risk if necessary.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Lis on November 02, 2016, 02:44:28 PM
Commenting to follow and to remind myself to come back and read everything fully. Unfortunately I don't have any usable cards, but maybe I'll finally respond to the 500 credit card offers from PNC and see...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 02, 2016, 04:59:23 PM
Looks like things are a little slow, but the process does work, you do get paid, and it's very little effort. Thanks for this ARS.

Glad to hear!  Every little bit--especially for so little effort--helps. Thanks for the report!  :)

I got paid this morning. 450 bucks for two sales recently made. Wow, talk about easy money!

Nice!  :)

Quote
Does anyone have a name or listing of appropriate cards for the other TL company?  PM me if needed. Thanks!

There is no other TL company right now.  There is a few others that people are trying, some of which I've looked into and are uncomfortable with.  You can try some of the other ones, of course.  Just be careful.  :)   I'll have a full report in a few weeks.

Right now, I see no reason to rush into moving from a good company to the unknown just for movement's sake.. could really shoot yourself in the foot long term.

I lurked on some of the tradeline sites to see what they offer to customers. They're all over the place, where packages span from a few hundred to a few thousand.

Then it hit me - why not sell tradelines directly? I could sell to my extended network on FB for example.

But then I went to FB and it felt very spammy to put this offer out there. IDK. Any thoughts?

I thought about that as well and came to the same conclusion. I don't think I would be comfortable with it. Plus friends/family + Owing me money = Disaster. Many are in the bad credit situation to begin with because of money issues. I figure it's a good way to ruin relationships.

+1.  There are friends/family I'd do it for for free, so letting them know about this AU concept to temporarily boost a score is a good idea.  But I wouldn't feel comfortable working out charging them for it, especially given how it costs me nothing except five minutes.

I do like the idea of letting people know (especially, for example, my wife's younger sister and her husband) that we can boost their score if they're applying for something.

Also a great way to help friends/family who have little to no credit into travel hacking!

Thanks for the idea!

When adding AUs, if the CC company asks for an address, do you:

(a) Provide the AU address, figuring that is more likely for the CL to report correctly?

This one.  They still ship the card, if you request one (I always do, because I worry about saying I don't want one being a red flag, but I have no idea if that's true or not), to your address.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MrSal on November 03, 2016, 07:32:09 AM
they are the same commission for limits but they took my 1 year old cars and said they could get me a couple signups on those and then max them when they turn 2.

+1 would you mind sharing that new website? i could probably test it out with one card and serve as a data point as well here for the group.

thanks
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MrSal on November 03, 2016, 07:35:46 AM
So I have two cards with the current recommended tradeline company (since August) and I have yet to get any sales, but I'm hoping I will soon.

I have two different cards with the alternate tradeline company that was being discussed, and I just got 2 authorized user spots on one of them. I'm hoping this alternative company works out because they will take credit cards that the current recommended tradeline company won't take, namely my Elan Financial Services Fidelity Rewards Card. Of course, I don't know if it will work out with the alternative company, I sure hope so.

I have an Elan Financial as well.... would you mind sharing the company you're using it with? Its my most prized card and havent been able to use it anywhere (9 years old at 21k)

thanks
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 03, 2016, 07:47:26 AM
Sal: the two posters you just quoted aren't even using the same alternative TL company as each other.  :)

I understand the urge to go go go right this second, but be a little patient, it will be worth waiting to make the right move, if any, IMO.

Also, FWIW, I have an Elan card enrolled with the current company.  Once stuff opens w/ them in January, you may be able to enroll it there.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: MrSal on November 03, 2016, 07:55:01 AM
Sal: the two posters you just quoted aren't even using the same alternative TL company as each other.  :)

I understand the urge to go go go right this second, but be a little patient, it will be worth waiting to make the right move, if any, IMO.

Also, FWIW, I have an Elan card enrolled with the current company.  Once stuff opens w/ them in January, you may be able to enroll it there.

Thanks. I will be waiting your report... but I dont mind serving as guinea pig as well on trying out a company. I have seen a few companies online as well, so I wouldnt mind going/experimenting on a limited card a company that hasnt been tried yet.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 03, 2016, 08:01:39 AM
Sure, by all means!  Just wanted to add that caveat.  As long as you read the earlier stuff and want to take that risk, extra people reporting, or checking out other companies not covered yet is a good idea.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 03, 2016, 09:51:51 AM
The payout amounts for the *original* (we need a secret code name, it seems, now that research about other TL co's is underway here) TLs co. are changing as of 12/1. Do we know if this means "for any sales made 12/1 or later" or if the change applies to "any payouts made as of 12/1 or later"?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on November 03, 2016, 12:27:13 PM
The payout amounts for the *original* (we need a secret code name, it seems, now that research about other TL co's is underway here) TLs co. are changing as of 12/1. Do we know if this means "for any sales made 12/1 or later" or if the change applies to "any payouts made as of 12/1 or later"?

It isn't clear to me, even after rereading the original email they sent out.

My guess would be that it would be based on their payroll date, so all of the sales we make that would get paid on 11/30 would be under the old commission schedule, and all of the sales we make that would get paid on 12/31 would be under the new commission schedule.  Again, just a guess.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on November 03, 2016, 05:55:45 PM
The payout amounts for the *original* (we need a secret code name, it seems, now that research about other TL co's is underway here) TLs co. are changing as of 12/1. Do we know if this means "for any sales made 12/1 or later" or if the change applies to "any payouts made as of 12/1 or later"?

I was wondering the same, my statement date on my card with them is on the 27th, so I was hoping I could get another batch in at the higher payout.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 03, 2016, 05:58:38 PM
I think it's the opposite--all sales made before Dec 1 are at the old rate.  On Dec 1, they change the commissions going forward, and remove Chase.

I will email and confirm though.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 03, 2016, 07:39:09 PM
I think it's the opposite--all sales made before Dec 1 are at the old rate.  On Dec 1, they change the commissions going forward, and remove Chase.

I will email and confirm though.

Confirmed.

Here is what they just sent me:
Quote
The sales made in November will be paid out in December and will be on the old commission schedule. All sales made after or on December 1st will be on the new commission structure.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 03, 2016, 08:03:04 PM
Woohoo!  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 03, 2016, 08:43:33 PM
Great news, thanks ARS!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kpd905 on November 04, 2016, 06:02:14 AM
Awesome, hopefully I can max out my spots.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: tj on November 07, 2016, 09:43:41 PM
following.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: cotterpin on November 07, 2016, 11:52:04 PM
This is interesting. Going to follow.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 08, 2016, 08:50:33 AM
Has anyone else had their AUs not post correctly, so didn't get paid? Happened to me with my October sale, and I can't see that I did anything incorrectly. It just didn't post to his credit report. Does that just happen sometimes?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on November 08, 2016, 08:54:00 AM
Has anyone else had their AUs not post correctly, so didn't get paid? Happened to me with my October sale, and I can't see that I did anything incorrectly. It just didn't post to his credit report. Does that just happen sometimes?

That's frustrating. Did you have a little spending on the credit card ?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 08, 2016, 08:54:27 AM
Has anyone else had their AUs not post correctly, so didn't get paid? Happened to me with my October sale, and I can't see that I did anything incorrectly. It just didn't post to his credit report. Does that just happen sometimes?

Did you make sure there was a transaction on the card of at least a few dollars? Sometimes they don't report anything to the credit bureaus if there are no transactions. If the transactions are too small, some banks "forgive" the charges instead of creating a statement, so I always charge at least $3.

I have not had any AUs fail to post so far - what bank was it with? Apparently some banks have trouble posting.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 08, 2016, 08:55:31 AM
Has anyone else had their AUs not post correctly, so didn't get paid? Happened to me with my October sale, and I can't see that I did anything incorrectly. It just didn't post to his credit report. Does that just happen sometimes?

Once in June, with B of A, but that issue was resolved in July.

Who was the CC provider?  Did you use a SSN to add?  PM details if you don't want to share publicly.

Also did you contact the tradeline company?  They should upload a copy of the credit report as proof.  Did you ask them if others had this issue with that provider this month?  Did it post to any of the 3 agencies, or just one of them (it needs to post to 2 of the 3 to be valid)?  Did you have a balance on the card at the close date?

If it was an October sale, how do you know it didn't post correctly?  The results for those shouldn't come for another few weeks.

EDIT: I asked about the SSN above because Barclays, for example, doesn't ask for an SSN if you add them online--so you have to call and request they put an SSN, for security reasons, or you have to put their address on the Barclay's site--and adding an address is optional, and only shows up if you select it, otherwise it's easy to miss. So without putting their address on, or calling to add an SSN, it might not get on their report /END EDIT
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 08, 2016, 08:57:06 AM
Did you make sure there was a transaction on the card of at least a few dollars? Sometimes they don't report anything to the credit bureaus if there are no transactions. If the transactions are too small, some banks "forgive" the charges instead of creating a statement, so I always charge at least $3.

I have a bookmark to Amazon to load 2.50 from a CC to my Amazon gift card balance (essentially fake spending it, knowing I'll spend it later at some point on Amazon), then I just select the CC that I want the spend to be on.   Simple, and you don't have to dig out your card, which could be a hassle if you have a bunch enrolled.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 08, 2016, 09:40:31 AM
Thanks, all. It's a Barclay's card. i have it set up to auto charge to Amazon every month so there's always $10 there at statement close.

This was for September (so would have been paid in Oct.) I successfully added my first client to this account in August, following the same steps for the September client.

I contacted the TL co. yesterday and got to see the credit report of the client (which didn't show my account).

Barclay's has changed their Add Authorized User interface so that a SS is no longer required. I did add the client's address, but not the SS, which I guess would have required calling. ARS, are you saying I should have called to add that?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 08, 2016, 09:51:32 AM
ARS, are you saying I should have called to add that?

I did not when I recently sold a line on a Barclays, but it is an option to help it report correctly.  I plan on doing so in the future if more reports crop up like yours, or if the Barclay one I just did doesn't post correctly.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 08, 2016, 09:56:19 AM
ARS, are you saying I should have called to add that?

I did not when I recently sold a line on a Barclays, but it is an option to help it report correctly.  I plan on doing so in the future if more reports crop up like yours, or if the Barclay one I just did doesn't post correctly.

I just noticed a discrepancy in the client address I was given to add and his address on his credit report, so maybe that was the problem. If it would help things report correctly and wouldn't raise flags on Barclaycard's end, calling with the SS might be prudent. Good idea.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 08, 2016, 01:51:13 PM
Sounds like you figured out your issue, but I noticed that Barclays mangles apartment #s.  It seems to mix that into the address upon save.  I am concerned this may hose up my AU reporting this month.  (I don't think the previous AU had an apt#).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frozen on November 11, 2016, 03:55:32 PM
I just received a call from someone who told me they were trying to track down an associate of mine. I didn't recognize the name at first, but it did sound familiar. Since names have been purged from the portal, I searched my email and realized this was someone I added as an authorized user in Aug 2015. I searched the phone number of the caller, and learned it's a debt collector. Luckily, the debt collector was very polite. Has anything similar happened to anyone else?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 11, 2016, 04:11:17 PM
I just received a call from someone who told me they were trying to track down an associate of mine. I didn't recognize the name at first, but it did sound familiar. Since names have been purged from the portal, I searched my email and realized this was someone I added as an authorized user in Aug 2015. I searched the phone number of the caller, and learned it's a debt collector. Luckily, the debt collector was very polite. Has anything similar happened to anyone else?

Eek! And your response?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 11, 2016, 04:13:51 PM
Sounds like you figured out your issue, but I noticed that Barclays mangles apartment #s.  It seems to mix that into the address upon save.  I am concerned this may hose up my AU reporting this month.  (I don't think the previous AU had an apt#).

TL co. said the address wasn't the issue, so honestly I don't know what was. When I added my first person back in July, no SS was required, I followed the instructions, and it worked fine. So I don't know what went wrong.

I hope the two I added in Oct. go through... We shall see.

I noticed that about saved addresses as well. Problem is, once you add the AU and tell TL co. you did, that info gets purged from their system, so you can't go back and verify. I might keep better track of that address info until everything resolves each month from now on.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frozen on November 11, 2016, 04:18:36 PM
I just received a call from someone who told me they were trying to track down an associate of mine. I didn't recognize the name at first, but it did sound familiar. Since names have been purged from the portal, I searched my email and realized this was someone I added as an authorized user in Aug 2015. I searched the phone number of the caller, and learned it's a debt collector. Luckily, the debt collector was very polite. Has anything similar happened to anyone else?

Eek! And your response?
I asked who he (the caller) was, but he gave some vague answer. I told him the name sounded very familiar, like maybe the name of someone who was doing work on my house. It really was a pleasant conversation vs some of the things I have heard about debt collectors. I am wondering if there could be unintended consequences from adding these people. The reason his name came up in my email-- I was sent a letter addressed to him from Amazon in 2015, and contacted the Tradeline company to ask about it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 11, 2016, 06:08:59 PM
I am wondering if there could be unintended consequences from adding these people.

Like what?  You're not responsible for any of their debts (other than your card, obviously, but as discussed earlier, they shouldn't be able to get ahold of that).

99% of the time, a debt collector shouldn't even be able to find your phone number (unless you use a landline still), and if they send a letter to an address that was briefly listed on someone's report over a year and a half ago (yours, if it gets listed, which it doesn't much of the time), you throw it away.

I'm not sure what "unintended consequences" you mean.

Sounds like you figured out your issue, but I noticed that Barclays mangles apartment #s.  It seems to mix that into the address upon save.  I am concerned this may hose up my AU reporting this month.  (I don't think the previous AU had an apt#).

TL co. said the address wasn't the issue, so honestly I don't know what was. When I added my first person back in July, no SS was required, I followed the instructions, and it worked fine. So I don't know what went wrong.

I hope the two I added in Oct. go through... We shall see.

Weird.  I don't think there's a systemic problem with Barclays... let us know how Oct goes, we'll find out in about 2.5 weeks.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 19, 2016, 08:25:31 PM
I have a Barclay card in the system now.  I have another Barclay card that became 2 years old pretty recently.  I am wondering if adding it (when they start taking new cards) is a good idea.  My current card is doing 3-4 AU's per month as of late.  Would it raise suspicion with the CC company if I am using a number of AU spots on both cards?

Thanks for any insight.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 20, 2016, 12:23:20 AM
I have a Barclay card in the system now.  I have another Barclay card that became 2 years old pretty recently.  I am wondering if adding it (when they start taking new cards) is a good idea.  My current card is doing 3-4 AU's per month as of late.  Would it raise suspicion with the CC company if I am using a number of AU spots on both cards?

Thanks for any insight.

That's a good question.

I do have multiple cards enrolled from the same provider (both B of A and Barclays).  I do believe the CC company is more likely to notice with more (cause the advice with Chase is to transfer all the credit to a single card, and just enroll that one), but these are all cards I'm fine with getting cancelled.  Heck, the only reason I still have the Barclays open (whcih have a $95 fee, so I'd normally cancel if they wouldn't waive it or have a fee free card to downgrade to) is to sell lines on it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 20, 2016, 09:56:05 AM
I have a Barclay card in the system now.  I have another Barclay card that became 2 years old pretty recently.  I am wondering if adding it (when they start taking new cards) is a good idea.  My current card is doing 3-4 AU's per month as of late.  Would it raise suspicion with the CC company if I am using a number of AU spots on both cards?

Thanks for any insight.

That's a good question.

I do have multiple cards enrolled from the same provider (both B of A and Barclays).  I do believe the CC company is more likely to notice with more (cause the advice with Chase is to transfer all the credit to a single card, and just enroll that one), but these are all cards I'm fine with getting cancelled.  Heck, the only reason I still have the Barclays open (whcih have a $95 fee, so I'd normally cancel if they wouldn't waive it or have a fee free card to downgrade to) is to sell lines on it.

I'm sure it depends on the bank, but I was hesitant to open up max "spots" for this reason, I have 2 barclay cards in the system, each with 4 spots open. I have 3 citibank cards, the most popular one is limited to 3 spots, and the other two have 4 spots (but rarely get more than 1 per cycle).
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: jpdcpajd on November 20, 2016, 01:34:45 PM
following
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: merle1984 on November 21, 2016, 01:58:53 PM
My limits are low, 4k 2k, and 1k. My credit is good - great range. If I were to apply for an increase and be denied, is it possible to go directly to the bank with cash in order to obtain the increase?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on November 21, 2016, 04:10:07 PM
My limits are low, 4k 2k, and 1k. My credit is good - great range. If I were to apply for an increase and be denied, is it possible to go directly to the bank with cash in order to obtain the increase?

No.  Credit limits are generally based on three things:  your credit score, your stated annual income, and, to a lesser extent, your relationship with that credit issuer.  You'll need to improve in those three areas, not show up with cash.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Brilliantine on November 22, 2016, 12:19:28 PM
What an amazing concept and what an entertaining read. I went through all 15 pages in one sitting. Also kicking myself for taking a break from the forum when all this was being discussed even though I don't have cards that match the requirements. My Citi card has a $9k limit, and the two Discover cards that I have are even worse. :)

I'll still PM ARebelSpy for a referral for *the good company*. Maybe by January I will have managed to get my limits increased.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Zap on November 22, 2016, 12:57:16 PM
I've been signed up since the end of July, and finally got my first two sales!

It may have been covered previously, but when you call to remove the AUs, do you remove them all on the same call, or should you only remove one per call? I'm not sure it really matters as I would assume there is a call history attached to the account?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frozen on November 22, 2016, 01:05:03 PM
I have a Barclay card in the system now.  I have another Barclay card that became 2 years old pretty recently.  I am wondering if adding it (when they start taking new cards) is a good idea.  My current card is doing 3-4 AU's per month as of late.  Would it raise suspicion with the CC company if I am using a number of AU spots on both cards?

Thanks for any insight.
I don't have any insight into multiple cards with Barclays, but I can tell you I have 3 cards with Citi that I have been adding/removing AUs for nearly 2 years. But regarding Barclays, I heard from one of the companies I work with that Barclays has a lifetime limit on adding authorized users per card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: secondcor521 on November 22, 2016, 01:36:09 PM
I've been signed up since the end of July, and finally got my first two sales!

It may have been covered previously, but when you call to remove the AUs, do you remove them all on the same call, or should you only remove one per call? I'm not sure it really matters as I would assume there is a call history attached to the account?

Best practice is one AU add or remove per call.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: tj on November 22, 2016, 03:04:10 PM
Do any of the issuers let you add/remove AU's online? Patiently waiting for the "good company" to open the floodgates again. heh.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Zap on November 22, 2016, 03:06:11 PM
Do any of the issuers let you add/remove AU's online? Patiently waiting for the "good company" to open the floodgates again. heh.
Bank of America allows me to add, but not remove, online.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 22, 2016, 03:18:40 PM
Do any of the issuers let you add/remove AU's online? Patiently waiting for the "good company" to open the floodgates again. heh.

Barclay's lets you add/remove AUs online.

Hadn't heard about the lifetime AUs max before. Has anyone hit it?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Fireball on November 22, 2016, 04:28:22 PM
I've been signed up since the end of July, and finally got my first two sales!

It may have been covered previously, but when you call to remove the AUs, do you remove them all on the same call, or should you only remove one per call? I'm not sure it really matters as I would assume there is a call history attached to the account?

Best practice is one AU add or remove per call.

+1....Has worked well for me so far.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 22, 2016, 07:10:58 PM
I've been signed up since the end of July, and finally got my first two sales!

It may have been covered previously, but when you call to remove the AUs, do you remove them all on the same call, or should you only remove one per call? I'm not sure it really matters as I would assume there is a call history attached to the account?

I remove them all in one call.  I do all adds online (and most of my removes, but I do have to call for a few), but if I had to call to add, I'd do one at a time.

I don't have any insight into multiple cards with Barclays, but I can tell you I have 3 cards with Citi that I have been adding/removing AUs for nearly 2 years.

Thanks for the confirm!

But regarding Barclays, I heard from one of the companies I work with that Barclays has a lifetime limit on adding authorized users per card.

Yes, I ran across this recently with a company I was researching.  The limit used to be really high, then got reduced, but is still quite high.  I don't remember the exact numbers, but I'll try to research it some more.

Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dlawson on November 23, 2016, 12:29:51 PM
Argh, all my older credit cards are AmEx or issues by my Credit Union. I have a 1-year-old Barclay card (SallieMae) and a 1-year-old Citi (Double Cash) that I use for regular expenses. Hopefully selling tradelines is around in another year or so, haha.

If I want to apply for a few extra cards over the next couple months so that I could potentially expand in two years, does anyone have any recommendations? May as well pick up a few sign-up bonuses or rewards options while I'm at it, right?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on November 23, 2016, 10:00:39 PM
Do any of the issuers let you add/remove AU's online? Patiently waiting for the "good company" to open the floodgates again. heh.

Yes you can remove online with many cards but often it's not a specific link that says "remove AU", rather you create and send a "secure message" or the like with your request to remove specified AU
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on November 23, 2016, 10:02:20 PM
General Question: As this is income for which you'll receive a 1099 and then have to report on your taxes, what associated expenses could also be written off/deducted from that income?

Better thread to discuss this is somewhere else, is it perhaps more a tax / business expense question?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 23, 2016, 10:04:14 PM
Do any of the issuers let you add/remove AU's online? Patiently waiting for the "good company" to open the floodgates again. heh.

Yes you can remove online with many cards but often it's not a specific link that says "remove AU", rather you create and send a "secure message" or the like with your request to remove specified AU

Nice.  I've never done that, I always call if there's no button to remove them (like Discover and Barclays have).  Which companies have let you removed over secure messaging?

General Question: As this is income for which you'll receive a 1099 and then have to report on your taxes, what associated expenses could also be written off/deducted from that income?

I don't see why not.

The problem is you have to prorate the use for the business, and the amount of time that it takes is so tiny.

2 minutes to add person.. what percent of computer use is that?  5 minute call to remove them... what percent of using your phone is related to this business use?

So, sure, you can deduct expenses, but it'd probably be pretty small.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 24, 2016, 10:14:50 AM
General Question: As this is income for which you'll receive a 1099 and then have to report on your taxes, what associated expenses could also be written off/deducted from that income?

I don't see why not.

The problem is you have to prorate the use for the business, and the amount of time that it takes is so tiny.

2 minutes to add person.. what percent of computer use is that?  5 minute call to remove them... what percent of using your phone is related to this business use?

So, sure, you can deduct expenses, but it'd probably be pretty small.

The thing I'm most curious about is annual fees on the cards... it's not technically a business card, but the only reason I keep it open is to sell tradelines on it, can the annual fee be considered a business expense? I assumed no, but haven't researched it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 24, 2016, 10:16:28 AM
General Question: As this is income for which you'll receive a 1099 and then have to report on your taxes, what associated expenses could also be written off/deducted from that income?

I don't see why not.

The problem is you have to prorate the use for the business, and the amount of time that it takes is so tiny.

2 minutes to add person.. what percent of computer use is that?  5 minute call to remove them... what percent of using your phone is related to this business use?

So, sure, you can deduct expenses, but it'd probably be pretty small.

The thing I'm most curious about is annual fees on the cards... it's not technically a business card, but the only reason I keep it open is to sell tradelines on it, can the annual fee be considered a business expense? I assumed no, but haven't researched it.

Why would you assume no?  I'd assume yes.

It's an expense directly related to revenue generating, an expense that wouldn't exist without earning that income.  I think that's pretty much exactly the definition of business expense; the fact that it's a personal card rather than business card doesn't matter.

I think.

Hopefully someone more knowledgeable than either of us can chime in.  :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 24, 2016, 10:40:27 AM
Why would you assume no?  I'd assume yes.

It's an expense directly related to revenue generating, an expense that wouldn't exist without earning that income.  I think that's pretty much exactly the definition of business expense; the fact that it's a personal card rather than business card doesn't matter.

I think.

Hopefully someone more knowledgeable than either of us can chime in.  :)

The interpretation of the rule I've seen after 5 minutes of searching is... if the expenses on the card are all business related, then you can deduct the fee. I put $3 Amazon reloads on the card every month, which eventually get spent on personal purchases. Hmmm...
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 24, 2016, 07:05:55 PM
Speaking of taxes, can someone who has been doing this for 1-2 years comment on tax implications?  I read up thread that the type of 1099 (IIRC) might trigger some notice from the IRS depending on how you report it.  I believe it was related to self employment taxes.  Thanks for any info!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frozen on November 25, 2016, 08:24:38 AM
Speaking of taxes, can someone who has been doing this for 1-2 years comment on tax implications?  I read up thread that the type of 1099 (IIRC) might trigger some notice from the IRS depending on how you report it.  I believe it was related to self employment taxes.  Thanks for any info!
I received a 1099 last year and paid self employment taxes. I used Turbo Tax and had no issues.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: bigalsmith101 on November 25, 2016, 09:25:30 PM
Just to confirm that I've gleaned the correct information out of this thread, I'd like to confirm a question.

Is the Southwest Rapid Rewards card a viable card to use for trade lines? I'm just about to cancel my two southwest cards prior to their second annual charge, but won't if I can use them to sell tradelines.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 25, 2016, 10:26:50 PM
Just to confirm that I've gleaned the correct information out of this thread, I'd like to confirm a question.

Is the Southwest Rapid Rewards card a viable card to use for trade lines? I'm just about to cancel my two southwest cards prior to their second annual charge, but won't if I can use them to sell tradelines.

Sure, they'll work fine, but they're Chase, so have higher risk. Read the Chase caveats in the thread.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on November 25, 2016, 10:59:45 PM
Nice.  I've never done that, I always call if there's no button to remove them (like Discover and Barclays have).  Which companies have let you removed over secure messaging?

I've done it with Chase
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: bigalsmith101 on November 26, 2016, 01:50:30 AM
Just to confirm that I've gleaned the correct information out of this thread, I'd like to confirm a question.

Is the Southwest Rapid Rewards card a viable card to use for trade lines? I'm just about to cancel my two southwest cards prior to their second annual charge, but won't if I can use them to sell tradelines.

Sure, they'll work fine, but they're Chase, so have higher risk. Read the Chase caveats in the thread.

I'm glad I asked before shutting them down. I'll be accruing $160 in fees for the next year to keep them both open, but they just hit the two year mark this week. It's offset a bit by the 6k points per card I'll receive as an "anniversary gift". Win win.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: frozen on November 26, 2016, 06:05:51 AM
Just to confirm that I've gleaned the correct information out of this thread, I'd like to confirm a question.

Is the Southwest Rapid Rewards card a viable card to use for trade lines? I'm just about to cancel my two southwest cards prior to their second annual charge, but won't if I can use them to sell tradelines.

Sure, they'll work fine, but they're Chase, so have higher risk. Read the Chase caveats in the thread.

I'm glad I asked before shutting them down. I'll be accruing $160 in fees for the next year to keep them both open, but they just hit the two year mark this week. It's offset a bit by the 6k points per card I'll receive as an "anniversary gift". Win win.
According to the tradeline firm, Chase has the highest shutdown rate and lowest posting rate. They are no longer working with them as of Dec. 1. There are other companies that do still take Chase though.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on November 26, 2016, 07:43:57 AM
I believe the problem with Chase cards is they don't attach a social security number with the authorized user you have added.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: dlawson on November 28, 2016, 01:20:31 PM
Has anyone tried enrolling their Citi Costco card? I'm not sure how account age is calculated in this case, with Costco switching from AmEx to Citi earlier this year. I do know that all my old AmEx statements are loaded into my Citi account portal, which makes me think that it might qualify as a five-year-old card rather than a six-month-old card.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Shor on November 28, 2016, 02:19:51 PM
Has anyone tried enrolling their Citi Costco card? I'm not sure how account age is calculated in this case, with Costco switching from AmEx to Citi earlier this year. I do know that all my old AmEx statements are loaded into my Citi account portal, which makes me think that it might qualify as a five-year-old card rather than a six-month-old card.
Correct, because of the transfer, the 'start date' of teh account is when the original Amex account began (according to the credit report).
However, for the Citi Costco card, the AU needs to provide a Costco Member Account # as part of filling out the (online) AU form (required). So unfortunately, this is not viable unless the tradeline business updates their site to collect that information as well for these type of accounts.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 28, 2016, 04:44:02 PM
Has anyone tried enrolling their Citi Costco card? I'm not sure how account age is calculated in this case, with Costco switching from AmEx to Citi earlier this year. I do know that all my old AmEx statements are loaded into my Citi account portal, which makes me think that it might qualify as a five-year-old card rather than a six-month-old card.

I checked Credit Karma, and my "new" account with Citi is showing as a transfer, with the opening date of the original Amex card. The staff at the broker said I could add it based on the inherited history, but not until January when they re-open addition of new cards.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: CanuckExpat on November 28, 2016, 04:58:15 PM
Why would you assume no?  I'd assume yes.

It's an expense directly related to revenue generating, an expense that wouldn't exist without earning that income.  I think that's pretty much exactly the definition of business expense; the fact that it's a personal card rather than business card doesn't matter.

I think.

Hopefully someone more knowledgeable than either of us can chime in.  :)

The interpretation of the rule I've seen after 5 minutes of searching is... if the expenses on the card are all business related, then you can deduct the fee. I put $3 Amazon reloads on the card every month, which eventually get spent on personal purchases. Hmmm...

If that's what you are thinking, you should probably check if the tax benefit from deducting the annual fee is greater than the $36 of spending, and perhaps if it is, you shouldn't use it for personal purposes (and also consider dropping it to $1 or $2 a month if that still serves the purpose)

i.e. is $36  < marginal tax rate * annual fee ?
Does that sound like the right way to look at it?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 28, 2016, 05:01:28 PM


Why would you assume no?  I'd assume yes.

It's an expense directly related to revenue generating, an expense that wouldn't exist without earning that income.  I think that's pretty much exactly the definition of business expense; the fact that it's a personal card rather than business card doesn't matter.

I think.

Hopefully someone more knowledgeable than either of us can chime in.  :)

The interpretation of the rule I've seen after 5 minutes of searching is... if the expenses on the card are all business related, then you can deduct the fee. I put $3 Amazon reloads on the card every month, which eventually get spent on personal purchases. Hmmm...

If that's what you are thinking, you should probably check if the tax benefit from deducting the annual fee is greater than the $36 of spending, and perhaps if it is, you shouldn't use it for personal purposes (and also consider dropping it to $1 or $2 a month if that still serves the purpose)

i.e. is $36  < marginal tax rate * annual fee ?
Does that sound like the right way to look at it?

The reload is needed to get a balance to help it report.

I do $2.50.

Can you come up with business expenses to spend that $36 on?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 29, 2016, 07:14:50 PM
Demand must still be good.  I received 2 orders today.  Card is maxed out again.

I had one to remove today.  I decided to do it after the first order.  2 hours later another order came through.  Might be chance but I'll be sure to remove them right away going forward!
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 29, 2016, 07:21:44 PM
I consistently sell all 3 spots on my Barclays card (23k limit; 8 years old) to the co. ARS recommended, but my Discover spots never sell: 11k limit; 5 years old.

Are others selling Discover slots, and if so, what is your card age / limit? Maybe I should keep working on increasing my limit on it.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on November 29, 2016, 08:17:48 PM
I haven't gotten a single sale on my Discover card that has a 13K limit and is 11 years old.  But with an alternative company I did get 1 sale on another Discover card that only has 8.5K and is 13 years old. I haven't been paid yet as the 60-day time frame is not yet finished for the tradeline sale.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 29, 2016, 09:32:04 PM
Started in the program end of June, got 2 orders for my Discover at the beginning of August (2.5 years old and $9.2k limit). No orders since. Likely going to request another credit line increase on that card soon.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 30, 2016, 02:17:32 AM
Demand must still be good.  I received 2 orders today.  Card is maxed out again.

Nice!  It's pretty hit or miss, but I've gotten PMs from people confirming they're getting orders; if you aren't, my advice is to just be patient.

Are others selling Discover slots...Maybe I should keep working on increasing my limit on it.

Yep!  As above, if you aren't yet, wait, and hopefully it'll come.

Always worth trying to increase the limit to make it more desirable, IMO.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on November 30, 2016, 04:59:54 AM
:( no orders yet for this month. I was growing accustomed to that email alert coming in a couple days before the end of each month. Not looking good.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on November 30, 2016, 05:38:37 AM
i havent gotten any orders from the original site in 2 months. its flooded.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: HAPPYINAZ on November 30, 2016, 09:18:10 AM
My BofA card sold out its two slots this month....was pleased since we are still under the old rates for those sales :)
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 30, 2016, 09:23:27 AM
Demand may be more a function of the card's age.  My card that is selling out is a little over 8 years old.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on November 30, 2016, 09:28:46 AM
my cards are 5 6 and 11
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 30, 2016, 09:31:39 AM
Demand may be more a function of the card's age.  My card that is selling out is a little over 8 years old.

I think it's more random than that.  I have a card from 2003 (13 years) that didn't sell any, yet a card that's just over two years (June 2014) that sold a line this month.

My best guess is that people tend to take whatever is available soonest--i.e. what has the next closing date? Sometimes they may go for a certain age or limit, but often it's just any card that can post quickly.

Given that criteria, it would be pretty random, just based on if your card closes soon as that order comes in.  Obviously if there's multiple cards, that's where age/limit comes into play.  But I really think closing date matters more, and as orders come in randomly, some months you'll see orders, and others not, and that won't be a function of the card age/limit itself (and maybe having cards with spread out closing dates could be beneficial?).

Just a thought.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: boarder42 on November 30, 2016, 09:54:26 AM
Demand may be more a function of the card's age.  My card that is selling out is a little over 8 years old.

I think it's more random than that.  I have a card from 2003 (13 years) that didn't sell any, yet a card that's just over two years (June 2014) that sold a line this month.

My best guess is that people tend to take whatever is available soonest--i.e. what has the next closing date? Sometimes they may go for a certain age or limit, but often it's just any card that can post quickly.

Given that criteria, it would be pretty random, just based on if your card closes soon as that order comes in.  Obviously if there's multiple cards, that's where age/limit comes into play.  But I really think closing date matters more, and as orders come in randomly, some months you'll see orders, and others not, and that won't be a function of the card age/limit itself (and maybe having cards with spread out closing dates could be beneficial?).

Just a thought.

that was my thought as well.  closing dates are more important than the rest of the stuff once it meets a criteria.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: kudy on November 30, 2016, 10:21:31 AM
I called in for a few orders last night/today - I had a really hard time with Citi customer service this time - twice I was put on a mysterious hold and then hung up on, a 3rd time the woman could not understand what I wanted at all. A 4th time, I was transferred to the fraud department (I decided to hang up when they said they were transferring me).

I finally got the AUs squared away, but I am hoping this was a one-time fluke, and not some sort of awareness/dodging of the frequent AU adding/removing.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Malaysia41 on November 30, 2016, 12:35:21 PM
:( no orders yet for this month. I was growing accustomed to that email alert coming in a couple days before the end of each month. Not looking good.

... and an order just came in. Yeah! One final $400 spot.  Twas good while it lasted.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: missundecided on November 30, 2016, 03:08:16 PM
ARS, please remove my post if you think it doesn't belong, but I have a question about adding an AU but not through this program. Perhaps the hive mind can help.

I want to help my father establish credit (he's an American who's lived abroad most of his life and never had a credit card) because he's moving back to the US and I want to remove any possible obstacles of him renting an apartment, etc. Coincidentally, I received an MR offer from Amex to add an AU. Will adding him to my Amex help my dad at all? I ask because I know the trade line company mentioned in the thread doesn't work with Amex, so does that mean he wouldn't receive a boost from his association with me?

Secondly, the card I'm considering adding my dad to is one that I probably won't renew after next autumn, and I'm not 100% on the timing of my dad's move back stateside. If I end up cancelling the card, will this torpedo any efforts I made in boosting his credit? I'll have had this card for two years.

Given all this info, should I just go with a completely different card (like B of A, which I think is 5 yrs old) and forget the MR offer? 
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: ender on November 30, 2016, 03:44:34 PM
If you have an older one just add him to that one.

Unless the credit limits are dramatically different I don't see any reason the newer one would be better.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: RedwoodDreams on November 30, 2016, 03:50:39 PM
Got paid today!

However, although I'd sold two TLs last month, only one posted correctly, so I only got $262 instead of $524. Bummer.

More importantly, since I first started doing this, I've gotten a total of 4 orders for my Barclaycard. 2 posted correctly and I was paid; the other 2 didn't post correctly.

I add the AUs online, exactly the same way each time. Barclays doesn't ask for a SS, which might be partly to blame (?)

Is anyone else experiencing this, and does the TL co. "fire" you if it happens consistently? I'd think your card might be considered unreliable if its posting is iffy...unless this is all just part of the way things work--sometimes they do, and sometimes they don't. ?
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: katsiki on November 30, 2016, 04:23:29 PM
Sounds like you figured out your issue, but I noticed that Barclays mangles apartment #s.  It seems to mix that into the address upon save.  I am concerned this may hose up my AU reporting this month.  (I don't think the previous AU had an apt#).

RE: Barclays

So far, the above issue with apartment numbers has not been a problem.  Good news!

Also, I wanted to let folks know that the lack of SSN now does not seem to be an issue. 

If any of this changes after the next 30 days or so, I will post again.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: Fireball on November 30, 2016, 05:02:11 PM
I called in for a few orders last night/today - I had a really hard time with Citi customer service this time - twice I was put on a mysterious hold and then hung up on, a 3rd time the woman could not understand what I wanted at all. A 4th time, I was transferred to the fraud department (I decided to hang up when they said they were transferring me).

I finally got the AUs squared away, but I am hoping this was a one-time fluke, and not some sort of awareness/dodging of the frequent AU adding/removing.

I had a little bit of trouble a few days ago when adding three AUs with Citi.  Two went on without a hitch, but the CSR tried to transfer me to an Account Specialist on the 3rd call. She ended up coming back on the line and said it wasn't necessary, but it made me wonder what they were discussing while I was on hold.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: DavidAnnArbor on November 30, 2016, 05:06:47 PM
So the guy who heads up the alternative tradeline company recommends making these calls to customer service during peak customer service hours so that they don't have time to discuss perceived anomalies.
Title: Re: Selling Tradelines / Piggybacking: $600+/hr, 20-40k/yr. Side Gig
Post by: arebelspy on November 30, 2016, 06:02:38 PM
Thanks for the Citi info everyone.  Good to know, and to keep an eye on.

:( no orders yet for this month. I was growing accustomed to that email alert coming in a couple days before the end of each month. Not looking good.

... and an order just came in. Yeah! One final $400 spot.  Twas good while it lasted.

Nice!  :)

ARS, please remove my post if you think it doesn't belong, but I have a quest