Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig

[ditkanate]

Calling in my 7th add overall today and had my first encounter with a fraud department.  Ended up not being a big deal, they just want to make sure the actual account owner is the one calling in to add these people.  Asked me to repeat the AU's SS# and Bdate 3-4 times and put me on hold for a while.  But ended up going through fine.  Just a little more annoying than the typical call in. 

[lfstyl_stag]

Got my first two AUs today. Added without a hitch.

Sent from my Nexus 6P using Tapatalk

How long after signing up did it take to get an add? I just went through the signup process today.

[lfstyl_stag]

With the old company, I have a Discover card at $9500.  I have always had my four spots full on that card because it is the cheapest rate for buyers at <$10k limit.  I'd try to get right under the next pay threshold.

So $14,999, $19,999, $29,999, or $39,999.

Wow, that seems like a really good idea. Are you confident that this method works? Maybe i'll try to bump $15,000 CL up to $19,500 or so.

[Shade00]

Still have not been paid for an add back on June 25. I know this is minimal work for the money, but it's still frustrating to have to follow up with them repeatedly to get adds paid every time.

[kpd905]

With the old company, I have a Discover card at $9500.  I have always had my four spots full on that card because it is the cheapest rate for buyers at <$10k limit.  I'd try to get right under the next pay threshold.

So $14,999, $19,999, $29,999, or $39,999.

Wow, that seems like a really good idea. Are you confident that this method works? Maybe i'll try to bump $15,000 CL up to $19,500 or so.

I sell all the spots on that card every month.  If the customers have to pay a set amount for any cards under $10k, they are going to pick the ones with the highest limit possible.  I assume this will be the case with all brackets if the customers are able to pick the cards from a list.

[Optimiser]

I have a 10 or 12 year old Discover card with a $9500 limit. It's the only card I have that's had any sales, but it's only had two sales in 9 months with the new company.

[MasterStache]

With the old company, I have a Discover card at $9500.  I have always had my four spots full on that card because it is the cheapest rate for buyers at <$10k limit.  I'd try to get right under the next pay threshold.

So $14,999, $19,999, $29,999, or $39,999.

Wow, that seems like a really good idea. Are you confident that this method works? Maybe i'll try to bump $15,000 CL up to $19,500 or so.

I sell all the spots on that card every month.  If the customers have to pay a set amount for any cards under $10k, they are going to pick the ones with the highest limit possible.  I assume this will be the case with all brackets if the customers are able to pick the cards from a list.

How old is the card if you don't mind me asking?

[hoping2retire35]

any ideas on how the equifax breach will effect this? seems like it would be difficult to add lots of AUs if you have to do all of that verification everytime.

[erutio]

Just wanted to add another data point.

Credit company "D" shut down my card yesterday (after I added a new AU on Tuesday), with no warning and no reason given, except the generic "our credit decision was based in whole on the information found on your account" that someone else above got.

Card was 19 years old, had a 20.5k limit, I use it regularly over the years, averaging 200-2000 dollars monthly spend. I've had 7 adds on it since Jan.

I've spent close to an hour on the phone with "D" and they were utterly unhelpful in getting my account reopened.  They were not even able to tell me why, but instructed me to write to the corporate office.  I had the senior person admit to me that nothing would probably change even if I wrote in.  I was extremely nice the whole time, but changed my tone towards the end to try a different tactic.  Didn't work.  I can't believe they wouldn't even give a 19-year customer the courtesy of explaining their reasons over the phone rather than having to use snail mail.

ETA:  This card was used through the new TL company

[DavidAnnArbor]

Yikes. The good times are about to end with Discover it seems like.

[RedwoodDreams]

Yikes. The good times are about to end with Discover it seems like.

What a shame. That was one that I sold consistently 1-2x/ monthly. ARS warned us it could happen, and here we are.

[dakota5176]

It is upsetting to see so many Discover cards being shut down.  This is where I have had all my AUs as my card is very old with a high limit.  I recently got approved for a second to Discover card in my maiden name to "season."  If my old card gets shut down would my new one be at risk too? It's not old enough for AUs and even though it's in my maiden name obviously the ss# and addresses are the same.

[arebelspy]

It is upsetting to see so many Discover cards being shut down.

Definitely.  =/

Totally sucks if that's your main card for AU sales.

It's good to have a diversity of cards. Barclay, Capital One, Citi, US Bank, etc. all seem good still.

B of A and now Doscover have both had issues this year.

This is where I have had all my AUs as my card is very old with a high limit.  I recently got approved for a second to Discover card in my maiden name to "season."  If my old card gets shut down would my new one be at risk too? It's not old enough for AUs and even though it's in my maiden name obviously the ss# and addresses are the same.

No, Chase is the only one that may shut down other accounts; other companies, including Discover, to this point have only shut down the one card, but not other cards you have with them.  (Obviously it's their perogative at any point to close any accounts you have with them, so I suppose that's possible, but no other companies have done so historically besides Chase, as mentioned in the OP).

[monarda]

So, What does this Equifax breach mean for this whole strategy? If I choose to freeze my credit does that mean I'm entirely out of this game?

[arebelspy]

So, What does this Equifax breach mean for this whole strategy? If I choose to freeze my credit does that mean I'm entirely out of this game?

AFAIK, it shouldn't affect anything.

AUs don't show up on your credit report. Selling tradelines does not affect your credit. I don't see why freezing it would prevent you from adding AUs (it just prevents you, or anyone else, from opening new lines in your name that would show up on your credit report).

Anyone feel free to correct me if I'm wrong, but that's my understanding.  :)

[kudy]

So, What does this Equifax breach mean for this whole strategy? If I choose to freeze my credit does that mean I'm entirely out of this game?

AFAIK, it shouldn't affect anything.

AUs don't show up on your credit report. Selling tradelines does not affect your credit. I don't see why freezing it would prevent you from adding AUs (it just prevents you, or anyone else, from opening new lines in your name that would show up on your credit report).

Anyone feel free to correct me if I'm wrong, but that's my understanding.  :)

This may slow down sales, or cause issues for buyers, if they are savvy and freeze their credit. We had one AU not go through because the buyer had a freeze on his credit a few months ago - I think the companies are good at instructing people to remove freezes, but if more people have them, there may a higher incidence of an attempted AU add failing?

[TomTX]

As an FYI, I just noticed my Discover is "Resting"

[arebelspy]

This may slow down sales, or cause issues for buyers, if they are savvy and freeze their credit. We had one AU not go through because the buyer had a freeze on his credit a few months ago - I think the companies are good at instructing people to remove freezes, but if more people have them, there may a higher incidence of an attempted AU add failing?

Good point; it will not post for the AU if they do a credit freeze. Though, as you said, the company does attempt to ensure that the AU has not done that, in their communications with them.

As an FYI, I just noticed my Discover is "Resting"

Just checked, and mine is now as well. I had been intending to email them to do this myself anyways, looks like they're being proactive after the closures. Probably a smart move for the time being, while Discover is doing this crackdown.

[Shade00]

My Discover is also resting - glad they are being proactive as I was going to also email them to take a break on it. This is the message on my card info in the portal:

Discover performing audit as of 9/2017; resting cards as precaution for timebeing

I emailed the owner on Thursday of last week about still not receiving payment for my June add. No response yet. Shouldn't July adds be paid out soon as well? I had one in July too.

[arebelspy]

I emailed the owner on Thursday of last week about still not receiving payment for my June add. No response yet. Shouldn't July adds be paid out soon as well? I had one in July too.

It is frustrating when this happens--feels like that should all be automated now with the portal (or at least very simple--click button to run report, send to payroll processor).

As always, if issues like this ever pop up, feel free to PM me if reaching out to the company doesn't get a prompt response and I'm happy to look into it.

[kpd905]

With the old company, I have a Discover card at $9500.  I have always had my four spots full on that card because it is the cheapest rate for buyers at <$10k limit.  I'd try to get right under the next pay threshold.

So $14,999, $19,999, $29,999, or $39,999.

Wow, that seems like a really good idea. Are you confident that this method works? Maybe i'll try to bump $15,000 CL up to $19,500 or so.

I sell all the spots on that card every month.  If the customers have to pay a set amount for any cards under $10k, they are going to pick the ones with the highest limit possible.  I assume this will be the case with all brackets if the customers are able to pick the cards from a list.

How old is the card if you don't mind me asking?

My card is about 4 years old, and it is with the old company that I am getting the sales.  Though now I think I should probably tell them to stop any future adds while this audit is going on.

[TomTX]

Okay, first time doing a BoA add - for the address, use mine as the address, or the AU's?

[arebelspy]

Okay, first time doing a BoA add - for the address, use mine as the address, or the AU's?

The AUs. The card will still come to your address (obviously).

[TomTX]

Okay, first time doing a BoA add - for the address, use mine as the address, or the AU's?

The AUs. The card will still come to your address (obviously).

Thanks! My wife pointed out that the email actually says to do that. *Doh*

Was excited at my first add from this company (and first add for anything other than US Bank) - so I rushed to the site rather than reading the email thoroughly.

[flashflooder]

FYI, payments for July just hit my account

[hgjjgkj]

Noticed something odd about the new company last night. Still haven't been paid for July, but when I view my card, I see 2 new names on the monthly timeline. However I received no alert to add them, and I do not have adding them as a task. No information to add them even if I wanted too. Very odd. I emailed them but have not got a reply. Really odd

[monarda]

Not odd. You'll be getting a notice to add them shortly. Patience.
This happened to me a couple of days before it was time to add them.

[solon]

Yeah, it just means those people have purchased the slot, but it isn't time to add them yet.

[ducky19]

FYI, payments for July just hit my account

Likewise.

[ducky19]

Yeah, it just means those people have purchased the slot, but it isn't time to add them yet.

The tradeline company is probably waiting for payment to clear before instructing you to add them.

[NinetyFour]

Trying to add an AU to my Cap One card.

The company did not give me the AU's phone number, but a phone number is required by Cap One.

Do I enter my own phone number?

E-mailed the company but have not heard back.

Thanks.

[arebelspy]

Trying to add an AU to my Cap One card.

The company did not give me the AU's phone number, but a phone number is required by Cap One.

Do I enter my own phone number?

E-mailed the company but have not heard back.

Thanks.

Yep, I use my # for that field. I don't think that's reported, and I'd rather their phone not be on anything. No unauthorized charges have ever happened in the 10+ year history of the company, but still.. better safe than sorry.  :)

[NinetyFour]

Great--thanks, Joe!

[frozen]

Out of curiosity, has anyone hit the limit by Barclays of only allowing you to add ~36 authorized users for the life of the card? I'm curious if there are ways of getting around it.

[secondcor521]

Out of curiosity, has anyone hit the limit by Barclays of only allowing you to add ~36 authorized users for the life of the card? I'm curious if there are ways of getting around it.

Nope, but you could ask if they could issue you a new card number.  That might create a new account with another 36 slots, or it mightn't.

[TomTX]

Out of curiosity, has anyone hit the limit by Barclays of only allowing you to add ~36 authorized users for the life of the card? I'm curious if there are ways of getting around it.

Nope, but you could ask if they could issue you a new card number.  That might create a new account with another 36 slots, or it mightn't.

You mean - Oops! I lost my card! as an opener, right?

[arebelspy]

Sadly, I don't think that gets around it.

[katsiki]

I didn't know about this barclays limit.  Yikes, I'm halfway there!  Time to get another BC card going I guess. 

[katsiki]

I just noticed that my Elan card is resting now too (along with a discover).  Does anyone know if there is an issue with Elan as well?

Never mind.  I just saw that Elan was listed in their August 30th email. 

[frozen]

I just noticed that my Elan card is resting now too (along with a discover).  Does anyone know if there is an issue with Elan as well?

Never mind.  I just saw that Elan was listed in their August 30th email.

I can't find that email. Can you remind me what they said about Elan?

[katsiki]

9.  At this time we are taking a break from selling USAA, Chase, or Elan.  We are taking a break from selling these cards because we strongly believe that these banks are conducting internal audits relating to authorized user accounts.  We feel the risk is too high for card closures.   This will change in the future when we know the risk has decreased. We will keep you posted.

[arebelspy]

This industry is in constant flux. It's good they stay on top of things like this.

[pateld]

Has anyone else had their D card shutdown??

[madage]

Yep.

Just had my discover card credit line terminated under normal account review procedures. It has no reason listed. It just says "our credit decision was based in whole on the information found on your account."

This was the first card I had authorized users put on a few months ago. Seems they are doing an audit. Oh well, there goes one of my oldest accounts. Good thing I have others.

I received the same notice on my Discover card. Oh well.

[frozen]

Has anyone else had their D card shutdown??

Still going strong with D since early 2015.

[kpd905]

I just added three AU's on my D card with the old company.  I was a little nervous with the recent rumors, but all good so far.

[hgjjgkj]

Noticed something odd about the new company last night. Still haven't been paid for July, but when I view my card, I see 2 new names on the monthly timeline. However I received no alert to add them, and I do not have adding them as a task. No information to add them even if I wanted too. Very odd. I emailed them but have not got a reply. Really odd

Update: I did get paid, but I logged back in and the new names for me to add were mysteriously not there. My email to the new company was never returned.  I maintain that it was odd.

[secondcor521]

Noticed something odd about the new company last night. Still haven't been paid for July, but when I view my card, I see 2 new names on the monthly timeline. However I received no alert to add them, and I do not have adding them as a task. No information to add them even if I wanted too. Very odd. I emailed them but have not got a reply. Really odd

Update: I did get paid, but I logged back in and the new names for me to add were mysteriously not there. My email to the new company was never returned.  I maintain that it was odd.

I think the process is that the new company sells spots on your card to people first and then goes through the process of verifying the AU - they need to be able to pay the new company and provide proof of identity (SSN at least) and pass the identity verification that shows they're not crooks.  Probably some - like the ones on your cards - fail that process and the sale is dropped at that point.

[Joel]

I've also had people fall off in this type of situation. From what customer service indicated, they proposed these cards to potential consumers who opted not to purchase my specific tradelines.

Noticed something odd about the new company last night. Still haven't been paid for July, but when I view my card, I see 2 new names on the monthly timeline. However I received no alert to add them, and I do not have adding them as a task. No information to add them even if I wanted too. Very odd. I emailed them but have not got a reply. Really odd

Update: I did get paid, but I logged back in and the new names for me to add were mysteriously not there. My email to the new company was never returned.  I maintain that it was odd.

I think the process is that the new company sells spots on your card to people first and then goes through the process of verifying the AU - they need to be able to pay the new company and provide proof of identity (SSN at least) and pass the identity verification that shows they're not crooks.  Probably some - like the ones on your cards - fail that process and the sale is dropped at that point.

[solon]

Noticed some serious activity on my card today (7yo, $23k). I have two AUs scheduled for October, and one for December. Stoked.