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

[Imustacheyouaquestion]

Citi also took away the option to remove AUs online. It used to be a button on the website, but now you have to call in. (I actually chatted with a customer service rep via online chat and she was surprised to hear this option went away -- they must have removed it without altering their customer support scripts). And the last time I called to add an AU, I had to transfer to a security specialist and answer additional questions, although this may have been because I called from a different phone number than the primary phone associated with my account.

[ducky19]

I have been transferred to a security specialist before, no rhyme or reason why, but in the long run it was no big deal. You can remove online with Citi, you just need to send a Secure Message. I believe they outline that for you on the company's website (or it may be in the email you get to remove, I don't remember). The last ones I removed, I called one in and used a Secure Message with the other one. They were both removed within an hour.

[topshot]

I would have thought that I wouldn't get paid until after I was told to remove them as AU. It would seem odd to me to be paid before the 60-90 days was up. I could end up removing them too early whether by accident or not.

Turns out I had been paid already for my first 2 adds. I was expecting some kind of notice from them or on their website, which makes it appear I hadn't been paid yet. I assume the add on the other card will be paid in a couple weeks since the closing date for it was about 3 weeks after the first card.

[ThatGuy]

I had requested the paperwork to sign up with the new company several months ago and then I started reading about all the issues everyone was having so I decided to wait.  I would rather miss out on some easy money rather than deal with the frustration many of you have been dealing with.  I was about to move forward until I read the recent posts.  Maybe I'll wait a little longer.

[TomTX]

I would have thought that I wouldn't get paid until after I was told to remove them as AU. It would seem odd to me to be paid before the 60-90 days was up. I could end up removing them too early whether by accident or not.

Speaking of removing and adding, I see that I apparently have 2 new AUs on one card later this month to replace the current two. Is it wise to remove both in the same day and then add 2 others the next day? I'd think it would better to deal with only one AU at a time (i.e., never add/delete more than 1 per day or at least per call).

If I am removing AUs and don't have any to leave on - I just ask to remove all AUs.

One time, apparently a prior AU hadn't been properly removed, so that was caught and removed.

[powskier]

Well, 1 year in with new company and I made a total of $775, with only 5 AU's for the year. Very easy, worth my time but far less than I expected. Older cards, highish limits, 800 credit score.In January I'll be adding the Barclaycard now it is 1 year old, hopefully that will help.
Anyone want to PM me the old company?

[N]

The new company told me that cards had to be 2 yrs old minimum.

[tj]

The new company told me that cards had to be 2 yrs old minimum.

At this point, they probably have a glut of cards.

[katsiki]

I've had much greater success with the old recommendation.  I just wish they would take cards with lower limits but long history.

[TomTX]

Just did my first AU removal with Bank of America - called in, went smoothly - except the agent caught herself at the end for a "new process" where she had to also type in notes about the removal, including the name of the AU being removed.

The extra time isn't an issue, but having notes typed up about AU adds and removals means more eyes will be on the AU adds and removals.

[BikeFanatic]

Bank of America shut down my cards today, I had added 3 users per card, greedy I know, and I believe I was told only 2 user per card was recommended. They had a fraud alert on my account, they lifted it, then I added another AU the next day. Oh well, I stil have my Discover card.

[MasterStache]

The new company told me that cards had to be 2 yrs old minimum.

At this point, they probably have a glut of cards.

They have had a glut of cards for a while. Some are seeing adds routinely while others, like myself, have not seen anything for months. They are taking one year old cards but also telling you that you probably won't see any sales until it's at least 2 years old. 

[frugalnacho]

I just got my first order for a citi card.   The instructions said I have to call in for citi, because if I do it online the ssn won't be entered.  I called and added the AU, and the citi rep said he was going to send a card to the AU address asap.  I requested he send the card to my address instead.  I was under the impression the cc company will never ship to the AU address, but he seemed very quick to get it sent to that address?

Just as a data point:  My payment for this add just landed in my checking account in the last couple of days.  I never had to contact the company.

[Car Jack]

I have to believe that the company has a glut of cards.  Seeing some posts here, it also seems like some people contact them and volunteer for lower payments, which I'm sure guides buyers to their cards.  Since January, with 4 cards, I've had exactly 3 AUs.  I'm grateful for the free money but have gone outside to the dark side and put one of my "resting" cards with another vendor.  2 AU's immediately were added.  This is a BoA card and I have 3 other newer cards with BoA so I really don't care if it gets shut down.  I also understand that BoA tends to only shut down the single offending card.

I'd rather not disclose who I'm going with now with my BoA card but am happy that I'll have some money coming in.  The "new" company here hasn't given me an AU in 3 months.

All in all, tradelines are great in my opinion.  I had none last year and now have somewhat of a stream of free money coming my way.

[EliteZags]

can anyone send referral for the first company?
thanks

[meatgrinder]

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.

I added my wife as an AU to my capital one business card and its not appearing on her credit report which is weird since this is the first business card I've owned that has shown up on my credit report.

[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.

I added my wife as an AU to my capital one business card and its not appearing on her credit report which is weird since this is the first business card I've owned that has shown up on my credit report.

Correct, as I said, you are liable, so it shows up on yours. AUs on business accounts do not have it show up though.

Thanks for confirming! :)

[arebelspy]

New info coming soon for both companies.

New company is dropping rates to be more in line with the industry.  They will be sending an email soon, and I'll be posting here soon.

Old company has changed some card requirements and limits.

Possible new recommendation coming soon.

Also new thread likely starting soon, this one is probably long enough.

Probably next week, as I'm currently in a bit of a personal situation with family.  Cheers!

[sc0tty]

New here and to MMM in general.  I am interested in this and if someone sends me a referral I will gladly use it.

[frugalnacho]

I'm not sure if this has been discussed yet but I can't find anything on it.  Also not sure if I should be starting a new thread, but I suspect I can get my questions answered in here.

Can you start an LLC and open a solo 401k selling tradelines?  Seems a bit dubious that I could start an LLC that could generate money by selling tradelines on my personal CC.  I've read comments that "it takes more than just creating an LLC to open a 401k, it must be a legit business", but also other comments noting that if you generate income on a 1099 then it could qualify you to open a solo 401k.

Assuming that is possible, could you then max your current 401k at your day job while also making employer contributions to your solo 401k using tradeline money?

It doesn't seem like it would be worth it for only a couple of tradeline sales per year, but if they figure out the supply/demand and tradeline sales go back up to what is claimed in the thread title it seems like it could be worth it to shelter extra money in a tax sheltered account.

Hopefully someone has done a lot more research than me and can save me the time of reading up on this on my own.

[kpd905]

FrugalNacho,
The income is considered self-employment contractor income, so you can definitely fund a retirement account.  I ended up going with a SEP IRA because I am already maxing out a 401k at my job.  I will make around $3000 from tradelines this year, so I can put roughly $500 or so as the employer contribution to the SEP IRA.

[CanuckExpat]

I'm not sure if this has been discussed yet but I can't find anything on it.  Also not sure if I should be starting a new thread, but I suspect I can get my questions answered in here.

Can you start an LLC and open a solo 401k selling tradelines?

I think some of your specific questions (LLC not needed) have been answered. We also discussed tax implications and strategies here

[DavidAnnArbor]

Frugalnacho if you're already maxing out your employee 401k deduction at your main job, don't bother going through the hassle of opening up a solo 401k, just do a Sep-ira.

If you're thinking the solo 401k is a way to do after tax contributions for the mega back door roth, that is possible, but given the fee to set that up, i think it only makes sense if you're making a few thousand dollars from the tradelines at the very least.

It seems many here are making a few hundred with tradelines at best, with a few making thousands.

[tj]

Frugalnacho if you're already maxing out your employee 401k deduction at your main job, don't bother going through the hassle of opening up a solo 401k, just do a Sep-ira.

If you're thinking the solo 401k is a way to do after tax contributions for the mega back door roth, that is possible, but given the fee to set that up, i think it only makes sense if you're making a few thousand dollars from the tradelines at the very least.

It seems many here are making a few hundred with tradelines at best, with a few making thousands.

Depends on your income, a SIMPLE IRA has higher contribution limits for some situations.

[Gadoc]

I just got my first add on my Citi card today.  After adding the AU I received a confirmation email from Citi bank with the following statement regarding the AU, “They have access to view account information and request replacement cards”.  I confirmed the card will be sent to my address and don’t see how they can access my account without it, but I am still a little concerned with the statement.  Any reason I should be concerned?

[DavidAnnArbor]

Any cards have to be mailed to you, not to them.

[redslaundry]

Gadoc, I believe the reason Citi is telling you that the authorized user can do those things is because **technically** the authorized user is allowed to have that level of access. However, I believe the authorized user would need to know your account information (like account #) in order to actually do things like view account information or request a replacement card. I don't think they would be able to simply call in to Citi and get access without first knowing your personal details. 

[Gadoc]

Thanks redslaundry and DavidAnnArbor.  I didn’t think it was an issue but feel better with the reassurance.

[frugalnacho]

Will they tell you when to remove an AU?  I added one back in October, and got paid in December, but don't have a notice to remove them.

[secondcor521]

Will they tell you when to remove an AU?  I added one back in October, and got paid in December, but don't have a notice to remove them.

Yes.  Usually about 90 days after you add the AU, so in your case probably some time in January.

[flashflooder]

Haven't been paid yet this month, wish they'd get better about making payments on time.

[arebelspy]

Haven't been paid yet this month, wish they'd get better about making payments on time.

Pm me with details.

[topshot]

It may have been pure coincidence, but I had just asked about whether the "date of placement" is the date I had added them since it had been 88 days so clearly past the req'd 75 on that card. That afternoon I got the requests to remove some (and add another).

While my first 2 adds were paid fine without any notice, I just sent him an email asking when I should expect payment for one of those I just removed.

[aetherie]

If I added a user on 10/27 and it posted on 11/15, when should I start bugging them about payment?
It's shown in the Oct. list in the table; however I've received payment for my 10/3 add (after bugging them) but not this one. So I'm wondering if it counts as Nov. and I should just wait.

[arebelspy]

If it posted 11/15, payment is end of the following month. So end of Dec. Though, as some people have noted, sometimes it's a week or so late. That's the point I'd start asking.

Annoying to have to do so. The biggest problem right now, even more so than the lack of/uneven distribution of AUs.

I'm contacting the owner again today.

[TomTX]

New info coming soon for both companies.

New company is dropping rates to be more in line with the industry.  They will be sending an email soon, and I'll be posting here soon.

Old company has changed some card requirements and limits.

Possible new recommendation coming soon.

Also new thread likely starting soon, this one is probably long enough.

Probably next week, as I'm currently in a bit of a personal situation with family.  Cheers!

Looking forward to this ;)

[topshot]

While my first 2 adds were paid fine without any notice, I just sent him an email asking when I should expect payment for one of those I just removed.

He replied quickly and apologized for the delay. He said my payment should post within 2 days.

[Gin1984]

Would this income be the type that the new tax bill will allow the 20% pass through?

[secondcor521]

Would this income be the type that the new tax bill will allow the 20% pass through?

I don't believe so. 

[frugalnacho]

So how much is everyone making? I got to the game late and only cleared one AU so far, so $75 for me.  Got 2 cards with lots of slots just going unused.

[CanuckExpat]

So how much is everyone making? I got to the game late and only cleared one AU so far, so $75 for me.  Got 2 cards with lots of slots just going unused.

Updating below:

If anyone wants some other data-points, wife and I have had 5 cards active on the "old recommendation" since about August, and have had four tradeline sales in that time for roughly $1000 in revenue. Not bad for some clicking around. I had a quick sale on Chase (which was removed after some changes) and no bites since then, wife has had a few more sales on her cards (higher limits and longer credit histories).

I got curious and tallied up today: first four months of this year my wife and I rang up ~$1,000 in sales between the two of us assuming they all pay out (one didn't post).

So relatively consistent dollar wise with what I said before, though last year, we had fewer sales, at higher payout each (before the price was cut).

If that averages out, it's still "free" $3,000 a year. I won't sneeze at that.

That's for about five cards distributed semi randomly between old and new recommendation; we added some new cards, and some cards, i.e. Chase, are no longer being sold. We are pretty lazy, if the card was already getting sales on the old recommendation, we kept it and didn't move over.

Mid year update: exactly $2,000 in sales between wife and I. Not a lot of money but it's free and easy; covers roughly one month of our expenses in retirement so far. Wondering if I killed the goose that lays the golden egg a bit by putting freeze on Discover, will see *shrugs*

FWIW, approximately the same or a bit more from bank bonuses. Between the two that could cover a good chunk (~20-25%) of our current retirement expenses if we stay thrifty. I don't expect the free money (or the super low expenses) to last for ever, but you don't look a gift horse in the mouth.

If everything pays out, we'll have made a little under $4000 between the two of us for 2017 (and a few sales made towards end of this year, which will pay out next year)

[sol]

So how much is everyone making? I got to the game late and only cleared one AU so far, so $75 for me.  Got 2 cards with lots of slots just going unused.

We've made zero for the past six months, on multiple cards.

[N]

I had one AU in 2017, multiple cards, 10 yrs plus, 20K+ limits...
I signed up early in 2017, january I think.

[ducky19]

I got a lot of action on my Citi card early on at $200 a pop ($1800), nothing on that card since July. I had $300 on a Capital One that ended up being restricted (they never did close the account though), and a little action on my Barclay card and another Citi. All told, $2525 for the year with another $175 that will post in January. Overall, sounds like better than most. I'm pretty satisfied with the whole arrangement, just wish I didn't have to remind about payment every time.

[kpd905]

We should hit $2550 assuming these last few post to the bureaus, but I think $2400 of it is with the old company.

[Optimiser]

I signed up in early 2017 and made $200 from two sales.

$9,500 10 year old discover card and $15,000 two year old barclay card

Both sales were on the discover

[Car Jack]

Signed up January 17.  2 sales on a citi and one an a cap one.

[topshot]

I've had 5 AUs total so far. I registered in Aug and added in Sep. Just dropped the first 3 and added 2 more.

A lot seems to be just random chance since the consumer picks the cards they want. Thus, if your's isn't near the top of the list you have less chance just like Google. The lists normally can be sorted a variety of ways. You could look to see if you can find your cards (may need to sign up).

[meatgrinder]

Based on the experience of the last few posters, it would probably make sense to update the thread title to something like $3k/yr if possible.

[katsiki]

About $2500 including payments due by end of the year.  Most of this was with the old TL company.