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

[frozen]

I think Arebelspy looked into this. I think there is a risk that I have not seen discussed which is the AU sellers actually sign up to steal the identity of your AU buyers. If this happens once you are dead and likely getting sued.

I see the risk. But it seems like a bad bet for an identity thief to sign up as an AU seller for the purpose of stealing the identity of an AU buyer who likely has a low credit score.

[dandarc]

I think Arebelspy looked into this. I think there is a risk that I have not seen discussed which is the AU sellers actually sign up to steal the identity of your AU buyers. If this happens once you are dead and likely getting sued.

I see the risk. But it seems like a bad bet for an identity thief to sign up as an AU seller for the purpose of stealing the identity of an AU buyer who likely has a low credit score.

But they won't have nearly as bad a credit score in the near-term.

[frozen]

Anyone else having a rough time adding AUs to Citi?
A few days ago I had to make several calls into Citi to get an AU added because they were not showing up when I checked my account online.
And last night I wasted 30 minutes on the phone trying to add an AU, transferred from rep to rep and they told me they kept getting errors. I finally gave up, but will try again later.

[TomTX]

Anyone else having a rough time adding AUs to Citi?
A few days ago I had to make several calls into Citi to get an AU added because they were not showing up when I checked my account online.
And last night I wasted 30 minutes on the phone trying to add an AU, transferred from rep to rep and they told me they kept getting errors. I finally gave up, but will try again later.

No issues when I did a week or two ago, but Citi IT and customer service are notoriously problematic.

[DavidAnnArbor]

Anyone else having a rough time adding AUs to Citi?
A few days ago I had to make several calls into Citi to get an AU added because they were not showing up when I checked my account online.
And last night I wasted 30 minutes on the phone trying to add an AU, transferred from rep to rep and they told me they kept getting errors. I finally gave up, but will try again later.

Yes I had a problem doing it with them last Sunday night - few days ago.  I got the typical CSR person at first, then they transferred me to fraud or something and they made me confirm a text that they sent to my cell phone. The person then confirmed he added the A.U. but then I didn't see the add on the Citi website for my credit card.
So then I added the person using the online form. That worked immediately. I called today to confirm that the Soc. Sec. number was associated with the Authorized User, and the CSR agent said it was.

[frozen]

Thanks for the feedback. I’ll try online and then calling in later to add the soc. But really, I. About ready to pull my Citi cards. Not worth the hassle.

[robartsd]

I think Arebelspy looked into this. I think there is a risk that I have not seen discussed which is the AU sellers actually sign up to steal the identity of your AU buyers. If this happens once you are dead and likely getting sued.

I think the risks of getting caught would be too high for a tradeline seller to be directly invoved in identity theft. The tradeline provider could potentially sell AU information on the black market to indirectly be involved in identity theft. If done carefully (secure communication and record keeping, plausible explaination for receipt of funds) they probably could prevent their link to the crime from being discovered.

[arebelspy]

Payment update: They are paying out at the same time as the old company, end of the month following the closing (so typically 4-8 weeks, depending on when the statement closed.  E.g. a closing in August will pay at the end of September). The original posts have been updated to reflect this.


(If you have not been paid for an August add, please let me know.)

[FrugalZony]

Anyone else having a rough time adding AUs to Citi?
A few days ago I had to make several calls into Citi to get an AU added because they were not showing up when I checked my account online.
And last night I wasted 30 minutes on the phone trying to add an AU, transferred from rep to rep and they told me they kept getting errors. I finally gave up, but will try again later.

Yes, I added 2, which did not show up.
then I called and spent a really long time with the rep, spelling names etc.
they said, they'd show the next day
NExt day: nothing

So I called again...checked back...one of the two ended up showing, the other not
I waited another day, called again about the second one, was assured it would be added
Could not check for a couple of days, due to lack of internet.

When I checked again: Nothing

In the portal it says only one posted, so I missed out on the second one.
The process with citi is cumbersome at best. This was my first time adding with CITI, as I just added that card a few months ago and only got a sale last month.


Also, got a new add for Barclay on Friday, which I added.

[Cdc0515]

what trade  line companies do you guys use?

[ducky19]

what trade  line companies do you guys use?

You should PM arebelspy if you're interested. Although seeing as you only have 3 posts to your name, he may not be ready to offer up a recommendation to you until you've proven yourself a little more.

[JMoney777]

Thanks for the great writeup!  I'm definitely going to be giving this a try.

[solon]

I just got declined when I asked for a credit limit increase on my Capital One card. The reason given was too many recent inquiries. Does anyone know CapOne's rules? How many inquiries are allowed, and how long ago?

[solon]

Has anyone ever bought a tradeline?

[ducky19]

Has anyone ever bought a tradeline?

Yes. I just doubt anyone on here...  ;)

[59ona64]

Solon brings up a good point--people have talked about getting into the TL business here. It wouldn't hurt for them to become a customer at the major tradeline companies with whom they'll compete to learn their process, their sales funnel, screening, timeline, etc.

I'm interested in selling my TLs, and the whole time I was reading both sets of posts I was thinking there's a business opportunity here. I don't have experience in this type of business, and it seems marketing is the big need and I have a few ideas on where to find clients. I don't, however, have any background in this type of business.

[arebelspy]

Company sent an email update. Most relevant items to most people, IMO is what cards they're currently pausing/activating:

8.  At this time we are not selling USAA, Chase, or Elan.  We are not 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.

9.  We are selling B of A cards once again.  However, this is still one of the highest risk cards for card closure.  If you wish to have your B of A reactivated please let me know.

10. We believe the audit has ended for Discover and we can begin selling it again.  If you would like to keep your Discover card on "resting" status please let me know.  As a reminder Discover usually requires a copy of ID and SS card, these can be found in the portal in the customer profile.

[Imustacheyouaquestion]

My first sale was added towards the end of August and the card closed in September. I should have been paid at the end of October, correct?

[secondcor521]

My first sale was added towards the end of August and the card closed in September. I should have been paid at the end of October, correct?

The email ARS referenced above implies you should see a direct deposit by 11/10.

(My experience has been that they are slow to pay but they always do pay and pay accurately.  Since this is bonus money anyway I hope nobody here is relying on the timely payments to, say, make rent.)

[Imustacheyouaquestion]

Oo

The email ARS referenced above implies you should see a direct deposit by 11/10.

Ah, I misread when direct deposit should hit your account.

[hgjjgkj]

I have 2 cards with the new company now. Both 2 years old. 1 has an 11k limit. The other has a 15k limit. I think the second card is in a more expensive price tier. I have never sold anything on the second card, but the first one sells pretty decently. Should I lower the limit on the second one with the company so it falls into the cheaper tier?

Secondly, just got approved for a card with a 24k limit but its brand new. How soon could i reasonably list it?

[DavidAnnArbor]

I have 2 cards with the new company now. Both 2 years old. 1 has an 11k limit. The other has a 15k limit. I think the second card is in a more expensive price tier. I have never sold anything on the second card, but the first one sells pretty decently. Should I lower the limit on the second one with the company so it falls into the cheaper tier?

Secondly, just got approved for a card with a 24k limit but its brand new. How soon could i reasonably list it?

Usually these cards are supposed to age for at least 3 years. So I'm impressed the new company has sold tradelines for your card that is 2 years old with only an 11k limit.

[hgjjgkj]

I have 2 cards with the new company now. Both 2 years old. 1 has an 11k limit. The other has a 15k limit. I think the second card is in a more expensive price tier. I have never sold anything on the second card, but the first one sells pretty decently. Should I lower the limit on the second one with the company so it falls into the cheaper tier?

Secondly, just got approved for a card with a 24k limit but its brand new. How soon could i reasonably list it?

Usually these cards are supposed to age for at least 3 years. So I'm impressed the new company has sold tradelines for your card that is 2 years old with only an 11k limit.

Elsewhere in the chat, 2 years is cited frequently.

[topshot]

The payout chart has categories for 12-24mos, 2-7 yrs and 8+ yrs so apparently even just 12 mos old COULD work.

[arebelspy]

They aren't taking 12 mo old cards right now unless they have a very high limit, but there are people selling spots on cards < 2 yrs.

[secondcor521]

I have a Capital One card that says "business" on it but appears to be reporting on my personal credit report.  Can it be used for piggybacking?

[hgjjgkj]

They aren't taking 12 mo old cards right now unless they have a very high limit, but there are people selling spots on cards < 2 yrs.

What is the definition of a very high limit?

[tj]

They aren't taking 12 mo old cards right now unless they have a very high limit, but there are people selling spots on cards < 2 yrs.

What is the definition of a very high limit?

I'd guess over $30k.

[secondcor521]

I have a Capital One card that says "business" on it but appears to be reporting on my personal credit report.  Can it be used for piggybacking?

Anyone?  Bueller?

If nobody knows I can just ask the company.

[arebelspy]

My understanding is that it will not work, that they show up because you are also personally liable, but it will not show up for AUs.

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

[HangarBay44]

Hello everyone, happy to be part of the forum!

I am quite interested in selling tradelines, however I dont have very old lines of credit. Im looking into opening a few new cards and using them lightly for a couple years to let them season and get their limits increased, so that I may then sell those credit lines in the future.

Does anyone have any recommendations for which banks / cards would be better to do this with?

Thanks!

[arebelspy]

Barclay is the best, IMO.

[kpd905]

Does anyone have any recommendations for which banks / cards would be better to do this with?

Right now Discover, Bank of America, Barclays, Citi, and US Bank cards are working.  But a lot can change in two years, there are constant changes when certain companies do an audit to watch for activity like this, resulting in the tradeline companies pausing the use of those cards.

[HangarBay44]

Barclay is the best, IMO.

Thanks for the suggestion!

Does anyone have any recommendations for which banks / cards would be better to do this with?

Right now Discover, Bank of America, Barclays, Citi, and US Bank cards are working.  But a lot can change in two years, there are constant changes when certain companies do an audit to watch for activity like this, resulting in the tradeline companies pausing the use of those cards.

Good point, two years is a long time. I am leaning towards Barclays and Discover now, both adding and removing AUs online is very important to me.  For now Ill look into those cards and then be hopeful they are available to sell when the time comes!

[BikeFanatic]

I had a few add on my citicard now that it is over two years old. I was able to add on line but not remove online. Does anyone have experice with this? I hate to call because I give them opportunity to ask questions and I am not too cool under pressure.

[MsFrugalista]

...but not remove online. Does anyone have experice with this? I hate to call because I give them opportunity to ask questions and I am not too cool under pressure.

You can send a secure message. I don’t think you can remove AUs online on the Citi website. Secure message has worked like a charm for me. Just confirm they removed the correct AU once you get confirmation of the removal (I haven’t had a problem, but it is Citi after all...).

[solon]

That's really odd. I have the opposite experience. I have to call to add, but I can remove online.

At first it appears you can add online, but there is no place to enter the SSN. The SSN is crucial, so even if you do add online, you still have to call to add the SSN. I find it's easier just to do the whole add over the phone. As for pressure, I've never felt any. They ask for all the details of the AU, but they never ask anything I don't have the answer to.

Removing is dead simple. Just click the Remove button next to the name. That's it.

[arebelspy]

Try a different browser.

[59ona64]

What company/broker is currently recommended? Or are people advertising on CL, or elsewhere?
If you're finding the AUs on your own, what is a reasonable charge on a 15 year old TL with a $19,200 limit (just off the top of my head...) aside from "whatever it's worth to you."

[hgjjgkj]

Has anyone added a user to the wrong card before? How big of an error is that?

[cashstore2022]

Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.

[ketchup]

Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.

It would affect the client's 5/24 status potentially (if you add them to a <24mo old account), but it wouldn't affect yours in any way.

[arebelspy]

Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.

Adding an AU does nothing to your credit report. Doesn't show up or affect it in any way.

[Captain Mustache]

+1 for supporting someone from the community to create one.

I'd be willing to assist with the web development and SEO pro bono.

Also, my good friend owns a real estate company and could definitely shuttle some leads as that seems to be the main stopping point.

Although it's obviously much easier said than done. Like many people here I have a personal business for my side hustles and what not but the management, accounting, etc would be all out of my area of expertise.

[dragoncar]

Does anyone know if adding authorized users for tradeline purposes affects my ability to do Chase credit card approvals, under their 5/24 approval/denial policy?  I'm very interested in doing another round of Chase Sapphire cards, so I don't want to jeopardize that... yet.

A round?  I read that Chase will no longer approve a new Sapphire card if you already have one.

[ducky19]

Has anyone else had to continuously prod the finance guy from the new tradeline company to get paid??? This is the second time out of the last two times that I've had to contact him about payment! I even waited well past the timeline laid out in their email. The first time I was fed the line that their accountant was on vacation over Labor Day weekend (still waited 5 days to get paid), this time I was told it was sent today and should post on Thursday. I can only wonder if it would have posted "today" had I not said something. I realize this is basically free money - I get it. But I really don't think I should have to constantly prod and poke to get paid! Anyone else have similar experiences?

[arebelspy]

Anyone else have similar experiences?

Yes. =/

[flashflooder]

^^well, it's now Thursday and I haven't yet been paid for September adds.

[Joel]

I eagerly signed up at the beginning of 2017, but I was only getting sales on an old but low credit limit card. Since they gave users the opportunity to cut prices on better cards, I have not received a sale. It’s been over six months. In all honesty, I’m thinking about closing my account as it seems to be a waste of time. Oh well the whopping $225 I earned was nice.

[ducky19]

Was told the money should be in my account today... still nothing. I have not received an add for an AU since the first time I pointed out I wasn't paid back in September. Prior to that I was getting several AUs at least every other month. Coincidence? Possibly... doesn't feel like it though.