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

[fiveoh]

An update - I added an AU at the beginning and just received payment the beginning of January.  I'm happy to get payment but this seems like a very long time.

The beginning of what month? 

[FrugalSaver]

No sales in coming up on a year. Very sad. Made 1 sale last April. I've several cards and credo score well over 700

[hgjjgkj]

I did end up being paid for october. now waiting on Nov and Dec

[Spartans]

Is no one concerned that these trade lines are likely being used at least in some part by folks to quickly build their credit score and then rack up a bunch of debt and bust-out?  The increase in bust outs is what's causing the recent Chase shut downs and freezes.

https://www.reddit.com/r/churning/comments/7jla34/card_shutdowns_and_bustout_score_risk_factors/

The KEY method used in creating synthetic identities for large-scale bust-out fraud is associating the synthetic identity with a real person with a long and established tradeline by adding the synthetic identity as an Authorized User. You should NEVER allow your identity to be linked to someone you do not know through a process such as selling access to a tradeline to a supposed credit repair firm. This has a very high likelihood of linking you a synthetic identity and could pose enormous risks in the future as these webs of fraud are ferreted out using analytical techniques to discover these links.

[Optimiser]

Is no one concerned that these trade lines are likely being used at least in some part by folks to quickly build their credit score and then rack up a bunch of debt and bust-out?  The increase in bust outs is what's causing the recent Chase shut downs and freezes.

https://www.reddit.com/r/churning/comments/7jla34/card_shutdowns_and_bustout_score_risk_factors/

The KEY method used in creating synthetic identities for large-scale bust-out fraud is associating the synthetic identity with a real person with a long and established tradeline by adding the synthetic identity as an Authorized User. You should NEVER allow your identity to be linked to someone you do not know through a process such as selling access to a tradeline to a supposed credit repair firm. This has a very high likelihood of linking you a synthetic identity and could pose enormous risks in the future as these webs of fraud are ferreted out using analytical techniques to discover these links.

arebelspy addressed synthetic identities upthread.

I am curious what people think about this Reddit post that describes "Bust-out" scores, creation of "synthetic identities" and cautions against adding unknown authorized users to your accounts:
https://www.reddit.com/r/churning/comments/7jla34/card_shutdowns_and_bustout_score_risk_factors/

This part of the author's post is especially pertinent to the tradeline sales industry:

"I want to add one final caution. The KEY method used in creating synthetic identities for large-scale bust-out fraud is associating the synthetic identity with a real person with a long and established tradeline by adding the synthetic identity as an Authorized User. You should NEVER allow your identity to be linked to someone you do not know through a process such as selling access to a tradeline to a supposed credit repair firm. This has a very high likelihood of linking you a synthetic identity and could pose enormous risks in the future as these webs of fraud are ferreted out using analytical techniques to discover these links."

Oh yes, totally.

This is why it's important to use a good tradeline company. Who verifies their authorized users through actual, in-depth, comprehensive methods.

Fraud is a huge concern. And one most TL companies don't give a crap about, because they can make money allowing anyone to buy TLs.

There's a reason why I've researched 15+ tradeline companies (and narrowed from there to a handful to research in-depth, including talking to the owners of a half-dozen) and can only recommend two.

I think people using other tradeline companies who don't utilize the best (and yes, expensive--we're talking at least $20-$30 per AU, which cuts into profit margins, and why bad companies don't want to do it, along with the effort involved) methods for AU quality control are being foolish.

It's not worth linking to that type of activity for a few hundred bucks. Helping actual people improve their credit scores? Awesome! Possibly adding synthetic identities, or an identity that has been stolen, or someone being manipulated? Terrible, and so not worth it.

It's an industry fraught with risks. So who you use is crucial. I don't research these companies for my own amusement. :)

I'd rather have a few sales from a good company than trying to get more from a bad one, and getting shut down very quickly, and being tied to fraud and risking liability there.

[charuhans]

Well, the company may not be able to do as stellar a job as expected in verifying the uses. My first add last year was declined by Citi because they could not verify the SSN/DOB information of the AU. And late in the year, Citi removed one AU which I had added a few days before and sent me a letter that the bank does not want any association with that AU. If a very through background check (as expected) was done by the company then these two issues wouldn't have occurred.

Also, today had an AU where the address information and DOB given on the website differed from the ID. After emailing the company was told to go with the ID information. If I hadn't reviewed it before calling the bank this one would have came up with a red flag, too. Still am not sure if it's going to pass muster with the bank if all the information is suspect.

I'm getting a bit anxious now about issue mentioned on Reddit since it seems even this company is not doing a thorough job of vetting applicants.

[FrankCastle]

Posting to say hello, my first post here after some months of lurking. Not sure why it took me this long to join the conversation.

Read through chunks of this thread and I'm very intrigued by this "side gig". I currently have a single card (not my only however, and I'm not attached to it) that would qualify but it sounds like a good potential earner. Has the previously referenced auditing by Discover subsided, and the "resting" been removed?

[aetherie]

Yes, Discover is working again.

[grantmeaname]

This has been an interesting read. It sounds like the norm is now 1) very slow activity due to low demand and 2) only spotty performance with actual payment when a tradeline is sold.  Are these issues universal or is there a minority of squeaky wheels on an otherwise lucrative path?

Those both sound like idiosyncratic issues that could be explained just by the operations capability of one firm. Or is the experience the same for the old recommendation?

[arebelspy]

This has been an interesting read. It sounds like the norm is now 1) very slow activity due to low demand and 2) only spotty performance with actual payment when a tradeline is sold.  Are these issues universal or is there a minority of squeaky wheels on an otherwise lucrative path?

Those both sound like idiosyncratic issues that could be explained just by the operations capability of one firm. Or is the experience the same for the old recommendation?

1 is the same at both reputable companies (overloaded with cards), 2 (slow payments) is only an issue with new company.

GRANT!

We've missed you, old friend.

+1!

[missundecided]

ARS, did you ever hear back from the owner of #2 about the claims/concerns as mentioned in your recent mod post?

[arebelspy]

ARS, did you ever hear back from the owner of #2 about the claims/concerns as mentioned in your recent mod post?

Yep, that day. Before the poster edited their post.

[secondcor521]

ARS, did you ever hear back from the owner of #2 about the claims/concerns as mentioned in your recent mod post?

Yep, that day. Before the poster edited their post.

I'd guess you or the new company owner are planning on updating us when something reportable happens.  As the posts stand now it is somewhat of a cliffhanger for those of us interested in what's happening.  Thanks in advance.

[arebelspy]

I'd guess you or the new company owner are planning on updating us when something reportable happens.  As the posts stand now it is somewhat of a cliffhanger for those of us interested in what's happening.  Thanks in advance.

Not intentional, just no news to report.

The post was accurate, there seems to be some extenuating circumstances, but the owner is working on getting the poster paid, and everyone else as well.

This, from about a week ago, is still the current status:

I spoke with the owner again about this, he's working on being more timely. The good thing is that no one has ever not been paid for an AU, but yes, some have been delayed (past a reasonable amount even, in my opinion).

I hope that will not change.

[secondcor521]

Thanks.  For me it is extra money that I am glad to have but don't need to pay my electric bill, so I just keep track in my spreadsheet and get paid whenever.  But I know, as I know you and new company owner know, it bothers some people here, which I get.

[grantmeaname]

Not intentional, just no news to report.

Apologies if I missed it in the middle 80% of the thread, but is there an update on the glut of cards/paucity of AUs? I saw in the intro posts that you were optimistic AU volume would always exceed the available cards due to the affiliate network but it seems not to have borne out. Is this a temporary thing due to extenuating circumstances as well, or the new normal?

[DavidAnnArbor]

It's the new normal.

[beekayworld]

You need to have utilization under 10%, but you can basically pay off all of the amount due except for like $3so then the statement closes with a $3 balance and reports., then pay that off (before it earns any interest).

Is the 10% rule have some post date requirement?  I have a very mature card (7+yrs) with a 25K limit but have been using it for a decent portion of my life.  I would imagine there are plenty of months where I exceeded the 10%, especially back before it was higher limit.

Thanks! Kinda coming in late here as well, but very intrigued in Tradelines.

Just on the months you have an AU on it. The past doesn't matter (except for all on time payments). There's no history of utilization stored on a credit report.

I just wrote to the new company a few days ago  to begin the process and their reply said to not utilize more than 15% of the credit limit.  I'm still going to do less than 10% to be safe, but wanted to share this in case someone needs to be a bit above 10%.

This was funny to me: The email said to be sure to put some charges on the cards "small (like $50-$500)". I know in this group $50 to $500 isn't considered small.  Suggestions earlier in the thread were $2.

To be safe, I'm going to do $10 and <10%.

[secondcor521]

I think under 15% has always been the recommendation.

I do $2.50 charges and that has been working for me.

I also separate my daily spender card(s) from my piggybacking cards.  It's just easier for me that way.

[Noleafclover]

Hello all. I have been a FI blog reader for some time, but recently moreso and stumbled upon Keith the Wealthy Accountant's post and from there, here, where I have done some research. The only forum I have really been active on is r/personalfinace (and some r/financialindependence) as u/ClosertothesunNA (old gaming tag).

I am interested in doing this as a side gig, but a lot of the goings on here (problems with companies and warnings about authorization) leads me to prefer to list my own tradelines for sale, if possible. But there seem to be a few barriers there, and I wonder if I could discuss this with anyone, or post here. I have some specific questions about verifying users and how/whether I should protect my own identity.

[tj]

Hello all. I have been a FI blog reader for some time, but recently moreso and stumbled upon Keith the Wealthy Accountant's post and from there, here, where I have done some research. The only forum I have really been active on is r/personalfinace (and some r/financialindependence) as u/ClosertothesunNA (old gaming tag).

I am interested in doing this as a side gig, but a lot of the goings on here (problems with companies and warnings about authorization) leads me to prefer to list my own tradelines for sale, if possible. But there seem to be a few barriers there, and I wonder if I could discuss this with anyone, or post here. I have some specific questions about verifying users and how/whether I should protect my own identity.

I believe most have concluded that path to be too risky.

[arebelspy]

It's quite a bit of effort, as well.

Some users are doing it, but most seem to be happy taking the easy money, even if it's less than you could get hustling for your own sales.

The main benefit of this "side gig" is the lack of time it takes. The amount/hour it pays is silly... once you start putting in serious time to making it happen, well, yeah, you make more dollars, but your dollar per hour goes way down.

It may still be more than you make elsewhere though, and worth it to you, but many of us are just collecting the extra easy money, and happy with that level of it.

[Padonak]

I haven't had any orders from the new company since November last year. Had a few orders last year prior to that. Is it just me? Are you guys still getting orders?

[FrugalSaver]

It's quite a bit of effort, as well.

Some users are doing it, but most seem to be happy taking the easy money, even if it's less than you could get hustling for your own sales.

The main benefit of this "side gig" is the lack of time it takes. The amount/hour it pays is silly... once you start putting in serious time to making it happen, well, yeah, you make more dollars, but your dollar per hour goes way down.

It may still be more than you make elsewhere though, and worth it to you, but many of us are just collecting the extra easy money, and happy with that level of it.

Coming up on a year since my last sale and all they can tell me is my cards are awesome and yet no sales...for a year

[MasterStache]

I haven't had any orders from the new company since November last year. Had a few orders last year prior to that. Is it just me? Are you guys still getting orders?

No orders for me in nearly a year. I've pretty much given up on it. 

[dragoncar]

I haven't had any orders from the new company since November last year. Had a few orders last year prior to that. Is it just me? Are you guys still getting orders?

No orders for me in nearly a year. I've pretty much given up on it.

Same here but I might be on a blacklist cause I didn't want to upload my banking data to an insecure website.

[FrugalSaver]

I haven't had any orders from the new company since November last year. Had a few orders last year prior to that. Is it just me? Are you guys still getting orders?

No orders for me in nearly a year. I've pretty much given up on it.

Same here but I might be on a blacklist cause I didn't want to upload my banking data to an insecure website.

Maybe the orders are only being doled out to a select few and we're not in that clique

[katsiki]

3 orders in ~13 months with this company.  Just got the third order last month.  It had been quiet for about 6 months before that.

I have had much better luck with the "old" recommendation.

[beekayworld]

I used the technique mentioned here of shifting credit limits between cards successfully with my two Chase cards. Worked like a charm!

Then I tried to do it with my two Citi cards and the rep told me each card has a CL based on conditions at the time I got the card so I can't reallocate between cards.

One is a Citibank AAdvantage with 53,300k CL and the other is Citi Double Cash with 15k limit. I wanted to move 18k so that one would have 35.3k and the other would have 33k.

(The Double Cash had a CL increase less than 6 months ago, so I couldn't increase it that way.)

She asked if there was anything else she could help me with so I went ahead and asked for a CL increase to 65k on my AAdvantage card.  I had been hesitant to increase that one because it already is so ridiculously high, but since she asked and I'd been turned down for a reallocation, I thought why not?

[DavidAnnArbor]

So are you getting a lot of tradeline sales on that 53K credit line Citi AAdvantage card?

[TomTX]

I used the technique mentioned here of shifting credit limits between cards successfully with my two Chase cards. Worked like a charm!

Then I tried to do it with my two Citi cards and the rep told me each card has a CL based on conditions at the time I got the card so I can't reallocate between cards.

One is a Citibank AAdvantage with 53,300k CL and the other is Citi Double Cash with 15k limit. I wanted to move 18k so that one would have 35.3k and the other would have 33k.

(The Double Cash had a CL increase less than 6 months ago, so I couldn't increase it that way.)

She asked if there was anything else she could help me with so I went ahead and asked for a CL increase to 65k on my AAdvantage card.  I had been hesitant to increase that one because it already is so ridiculously high, but since she asked and I'd been turned down for a reallocation, I thought why not?

BTW, her answer was bullshit. She may not know how to do it, but it certainly can be done. I've done CL reallocation twice with Citi.  The first time was when closing my Citi Hilton card, I transferred most of the credit line to another card. The other time was just because I wanted to (I did have to be bold/confident, because they initially told me it couldn't be done - my answer was that I had already done it on another card)

[beekayworld]

So are you getting a lot of tradeline sales on that 53K credit line Citi AAdvantage card?

I haven't signed up yet. I'm still on the first step of getting my credit lines increased.

[beekayworld]

....I did have to be bold/confident, because they initially told me it couldn't be done - my answer was that I had already done it on another card)

Thank you! This is very helpful. I'm going to try again. 

[flashflooder]

The deadline for 1099-MISC reporting is Jan 31, I believe?  I hope they get them out in a timely fashion, as I like to get my taxes done early. 

[frugalnacho]

Anyone else getting credit card offers for an AU? I just got a capital one offer addressed to the AU I added at my address.

[MasterStache]

Anyone else getting credit card offers for an AU? I just got a capital one offer addressed to the AU I added at my address.

Yes, but definitely a very rare occurrence. I just shred it and don't give it a second thought.

[frugalnacho]

Anyone else getting credit card offers for an AU? I just got a capital one offer addressed to the AU I added at my address.

Yes, but definitely a very rare occurrence. I just shred it and don't give it a second thought.

I will shred it, but I've only had one AU add (to Citi).  Some how from that capital one is sending him offers.

[charuhans]

Capital One is a pest. Have got one for a Citi AU add from a few months back. I just wrote "not at this address" and returned it. Now, after a couple of weeks, Cap One sends another for the same AU.

[frugalnacho]

Fuck capital one.  They turned both me and my wife down for CC last time we did a round of sign ups.  Meaning we have 0 capital one cards between us.  And they have the balls to mail me, her, and this random AU offers on a damn near weekly basis. 

[Imustacheyouaquestion]

Anyone else not been paid for November adds yet? Wondering if I should send another follow-up email.

[aetherie]

I have not been paid for my November add yet.

[frozen]

Selling tradelines on your own is very risky.  You would likely need legal advice prior to doing so. In 2010, the FTC filed a case against a Florida credit repair company and two of its employees for deceptive practices in the marketing and sale of credit repair services, including tradeline sales. Here is the document:
https://www.ftc.gov/sites/default/files/documents/cases/2010/03/100318rcamotion.pdf

As a best practice, you might want to stick with one of the well-researched, recommended companies.

Hello all. I have been a FI blog reader for some time, but recently moreso and stumbled upon Keith the Wealthy Accountant's post and from there, here, where I have done some research. The only forum I have really been active on is r/personalfinace (and some r/financialindependence) as u/ClosertothesunNA (old gaming tag).

I am interested in doing this as a side gig, but a lot of the goings on here (problems with companies and warnings about authorization) leads me to prefer to list my own tradelines for sale, if possible. But there seem to be a few barriers there, and I wonder if I could discuss this with anyone, or post here. I have some specific questions about verifying users and how/whether I should protect my own identity.

I believe most have concluded that path to be too risky.

[monarda]

I haven't been paid yet for an October 20 add (posted 11/7). I wrote to them but have had no reply. Usually I get a pretty quick reply.

I also haven't yet removed that AU, today is 71 days from posting, and more than 75 days since 10/20 when I added them. On Monday I plan to use the card for a major purchase, whether or not the AU is still on there.

[arebelspy]

The deadline for 1099-MISC reporting is Jan 31, I believe?  I hope they get them out in a timely fashion, as I like to get my taxes done early.

Spoke to the owner, these should be going out very soon (he said this week).

Anyone else not been paid for November adds yet? Wondering if I should send another follow-up email.

Spoke to the owner, he's processed some of the November payments, but most have not been made, and are now about 3 weeks late. He's working on catching up.

I'll be curious to see over the next few months if it falls further behind, and it's time to abandon ship, or if it gets caught up.

It's been like this for about 4-5 months, and everyone has been paid for all adds so far (albeit late), but it's not a great sign.

I haven't been paid yet for an October 20 add (posted 11/7).

That's a Nov add (when it posts is the relevant part--that's when they get "added" to the CC and it shows up). See above. :)

[fiveoh]

I'm still waiting on my October add that posted 10/26 .  Kinda irritating that they are processing nov adds already and havent gotten to mine. 

[TomTX]

I'm still waiting on my October add that posted 10/26 .  Kinda irritating that they are processing nov adds already and havent gotten to mine.

You're not the only one - I haven't been paid for October either. Was told that payment was sent out, but I haven't seen it yet - which means Monday at the earliest.

[FrugalSaver]

I finally got an add on one of my Chase cards.

I ha e 100,000 points on that sapphire card

Should I convert those to $?

Will that chase card getting shut down affect my chase Reserve card?  I have several hundred thousand points on that one.

[secondcor521]

I finally got an add on one of my Chase cards.

I ha e 100,000 points on that sapphire card

Should I convert those to $?

Will that chase card getting shut down affect my chase Reserve card?  I have several hundred thousand points on that one.

You asked your question on a different thread and got answers there:

https://forum.mrmoneymustache.com/welcome-to-the-forum/best-use-of-chase-sapphire-rewards-points-to-maximize-value-86533

[boarder42]

I have serious payment problems with this company.  i've worked with a couple others and never do i have to email them to get paid.  And that is for the adds that i know about - for my referral adds i have no idea if i'm being compensated for those.  really makes you wonder.

Typically i email and get paid immediately now i've sent a couple emails and havent heard back on the ~1k i'm currently owed - 600 of which i was told would be paid in dec.

[DavidAnnArbor]

I wish again there were a mustachian tradeline company, maybe based at that mrmoneymustache business space that was refurbished.