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

[hunt2eat]

For an EIN what company type did you use?

[twg5]

Thanks for your guys help. I actually haven't been able to find the closing date for the cards (Barclays and USAA) which I'm using but I'm sure I'll figure it out eventually. I did find the close date for the one Bank of America card I have. Worst case I can just pay off the card a few days before it is due.

[katsiki]

Thanks for your guys help. I actually haven't been able to find the closing date for the cards (Barclays and USAA) which I'm using but I'm sure I'll figure it out eventually. I did find the close date for the one Bank of America card I have. Worst case I can just pay off the card a few days before it is due.

Call your CC company and they can tell you.

[DavidAnnArbor]

So I got an authorized user for a Discover card, and the address for the authorized user that is in the email sent by the company's assistant is different then the address on the driver's license.
So what do I do ?

So I'm reporting back the results. I emailed the assistant and the owner at the company, and the assistant emailed back to just use the address on the ID, which I assume meant the driver's license, and not the address that was in the email.
So I used the driver's license address, and the Discover adding authorized user page seemed to find that address and name in it's US postal service database and I was able to add the authorized user, I wasn't even required to upload the driver's license, nor the social security card.
So I believe it has worked, it says authorized user added 1/12/17

And I just want to add I got this email back from the assistant regarding Discover:

"Sorry I usually double check to make sure the address is the same.  Going forward, whenever in doubt always use the address on the ID.  Sometimes the AU doesnt update the address on the ID but Discover wants to see it matches."

[ducky19]

So I got my first add request yesterday - should I be concerned that there were no documents? All the email gave was the AU's name, DOB, and social security number - no address, no driver's license, nothing... Is this unusual?

[PennySaved75]

I did not get any documents with my first added AU either.  I was given name, SS, DOB and address in the email.  I did not use the address because this was not a field requested by Capital One. The only thing that stymied me was a request for phone number, but the company said to use my own phone number, which I did.

[tj]

I'm jealous of all these people apparently getting sales already. :)



As for what I used for EIN, I don't remember. I think when I originally registered for it years ago, I was going to start a tax preparer business, so I probably picked something along those lines.

[MasterStache]

So I got my first add request yesterday - should I be concerned that there were no documents? All the email gave was the AU's name, DOB, and social security number - no address, no driver's license, nothing... Is this unusual?

Not unless it is required to add an AU by your credit card company. Someone please correct me if I am wrong but I believe not all CC companies require the same info when adding an AU. For instance USAA doesn't require an address to add an AU.

[DavidAnnArbor]

So I got my first add request yesterday - should I be concerned that there were no documents? All the email gave was the AU's name, DOB, and social security number - no address, no driver's license, nothing... Is this unusual?

You only might ever need to upload documents with Discover card, the other credit card companies aren't this picky.

[ducky19]

That makes sense, thanks for the responses.

[TomTX]

Thanks for your guys help. I actually haven't been able to find the closing date for the cards (Barclays and USAA) which I'm using but I'm sure I'll figure it out eventually. I did find the close date for the one Bank of America card I have. Worst case I can just pay off the card a few days before it is due.

If the cc company has sent you a bill, that means it closed.

[arebelspy]

Thanks for your guys help. I actually haven't been able to find the closing date for the cards (Barclays and USAA) which I'm using but I'm sure I'll figure it out eventually. I did find the close date for the one Bank of America card I have. Worst case I can just pay off the card a few days before it is due.

If there's a statement (that you can get in PDF form) with a balance, it's closed.  Easiest way to make sure it's closed and not pay it early is If it says Minimum Payment Due: $0 (even though you have a balance), it hasn't closed.

I wait until it says Minimum Payment Due: $2.50 (that's the amount I charge to the card each time, as above).  Then I know the statement has closed.  You definitely don't want to wait until after the payment date, as then it will be late, and hurt your credit, and the AU's credit, and you'll be charged late fees, interest, etc.  Pay it off between when the statement closes (and you get a statement/the payment due amount changes) and when the payment due date is.

Ditto what everyone said above about getting different info for different CC companies--you will only get the info you need.  Discover sometimes requires uploading documentation (like a driver's license), so you will get that, but for other providers you will not.

Excited to see so many people getting sales already.  Got another one for my one of my wife's Barclay's today (10k limit, 2.5 yrs old).  :)

[FrugalSaver]

What email do the sales come from when you're notified to add an AU?  I want to make sure I'm not missing it or it isn't going to spam. PM me if more appropriate. Thanks!

[arebelspy]

What email do the sales come from when you're notified to add an AU?  I want to make sure I'm not missing it or it isn't going to spam. PM me if more appropriate. Thanks!

PM sent.

[NinetyFour]

What email do the sales come from when you're notified to add an AU?  I want to make sure I'm not missing it or it isn't going to spam. PM me if more appropriate. Thanks!

PM sent.

Joe, I have the same question.  Could you please PM me?  Thx.

[arebelspy]

What email do the sales come from when you're notified to add an AU?  I want to make sure I'm not missing it or it isn't going to spam. PM me if more appropriate. Thanks!

PM sent.

Joe, I have the same question.  Could you please PM me?  Thx.

Sent.

To anyone else wondering: The email to add an AU will come from one of the company employees in charge of adding/removing AUs.

You won't miss it. No one has yet, and no one missed the alert email to check the portal from the last company.  :)

[enginerd1986]

Just an FYI guys/gals, I sent in information for myself and four cards on January 6th. I didn't hear anything back and sent an email requesting a status update this afternoon. The company owner replied promptly and told me that I would most likely not see any adds until sometime in February. I hated to bother them from other reports of them being swamped but my impatience got the best of me. I just thought I'd pass this along for any others that maybe waiting to hear back and are worried. Hope everyone is having a great new year so far!

T

[link_417]

Just an FYI guys/gals, I sent in information for myself and four cards on January 6th. I didn't hear anything back and sent an email requesting a status update this afternoon. The company owner replied promptly and told me that I would most likely not see any adds until sometime in February. I hated to bother them from other reports of them being swamped but my impatience got the best of me. I just thought I'd pass this along for any others that maybe waiting to hear back and are worried. Hope everyone is having a great new year so far!

T

Thank you! You probably just saved them several emails, I know I was wondering whether I should check in.

[Car Jack]

So far, this is easier than opening my Citi checking to get $400 last fall.  PM from Joe, email to and already back from tradeline company.  I've already filled out the forms and will be shooting pictures back.  The hint to use creditkarma was very helpful and I was somewhat surprised as to which credit cards were old and which were only a year old (did some churning over the last year).  I'm resurrecting a few older credit cards that I have not used in forever that I've just procrastinated closing.  Thanks for all.

Ok, next....is there going to be a clone set up to come into work for me so I can sleep in and just goof off all day?  Seems the next logical step from this point.....

[hunt2eat]

Just an FYI guys/gals, I sent in information for myself and four cards on January 6th. I didn't hear anything back and sent an email requesting a status update this afternoon. The company owner replied promptly and told me that I would most likely not see any adds until sometime in February. I hated to bother them from other reports of them being swamped but my impatience got the best of me. I just thought I'd pass this along for any others that maybe waiting to hear back and are worried. Hope everyone is having a great new year so far!

T

I sent my paperwork back yesterday and I rec'd the same info this last night/this morning. 

[hunt2eat]

I'll ask the question here instead of emailing them: If we want to add new cards/credit limits increase/etc do we resend the agreement in with all of our cards or just new cards/updates?

[boarder42]

So now I'm curious what traveling mailbox does with mail it receives that's not addressed to either of you, and if it raises flags with the credit card companies. We'll be in a similar situation, if/when we ever get a sale again :)

Been selling for 7 months now and no cancelled cards yet, so....

/shrug

i'm interested to see how mine does with monthly vs bi monthly with the site i use.

[kudy]

I'll ask the question here instead of emailing them: If we want to add new cards/credit limits increase/etc do we resend the agreement in with all of our cards or just new cards/updates?

I asked this question, and was told that I can just email new cards/changes to them in an email, no need to re-do the agreement paperwork.

[TomTX]

I'll ask the question here instead of emailing them: If we want to add new cards/credit limits increase/etc do we resend the agreement in with all of our cards or just new cards/updates?

I asked this question, and was told that I can just email new cards/changes to them in an email, no need to re-do the agreement paperwork.

I had thought it would be this way, but confirmation is great. I didn't want to bug them with another email question.

[cheapass]

I've got 2 cards I signed up with them, one at $30K and one at $12K. I requested an increase on the $12K one but my CC denied it, citing low credit utilization as the reason (I rarely go over $500 on this one). Does anyone know what % utilization is likely to get you an increase? I don't want to go over 15% and screw up my adds that will be coming in February....

[arebelspy]

Just got my first piece of junk mail for an AU.

I added them in July, removed in Aug or Sept (don't remember if it was a one or two month one), got the first piece of junk mail now, in January.

The strange thing is it was addressed to them, but per the discussion above, I didn't think I got mail addressed to other people with my mail service.  When I saw it addressed to a random name, I thought maybe it was a card, but nope, junk mail.

Just gonna shred all stuff addressed to AUs, cards or otherwise, was just curious about this one, if it was a card... turned out no.  :)

[ducky19]

Got my second add on my Citi card, should be an easy $400 for my first month! I had a scare with my first add, ended up talking to their fraud department. I sent the guy at the company an email because I was worried about doing the second add. Less than an hour later I got a phone call from him! He talked me through what happened (agent mistyped the SSN) and gave me some good coaching and pointers, we chatted for about 10 minutes. Really put my mind at ease. Looking forward to more adds next month, hopefully some of my other 7 cards get some action too! (yeah, I might have a churning problem...)

[arebelspy]

Got my second add on my Citi card, should be an easy $400 for my first month!

Sweet!

So I'm talking with a friend today as we're out on a walk, and he mentions all these online "WORK FROM HOME FOR ONLY 15 MINUTES PER DAY AND EARN $5000 PER MONTH" ads you see that are total and utter bull *.

And we talked about how it you can make money working from home online, but it actually takes hard work  (e.g. coding, or blogging, or tutoring, or whatever).

But I also thought of this thread, and how somehow I can legitimately say that I'm earning thousands of dollars a month working at home, for a few minutes per day of "work".

7 months in, and I'm still boggling at it every time I get an AU add, or a payment from a previous one.

It's literally like what those scams purport to offer, but real.

What the *.  Crazy.  :)

[arebelspy]

At this point, I believe they should be caught up and responded to all emails, so if you emailed them more than 48 hours ago, and haven't got a response, please send a follow up, as it likely fell through the cracks in the flood of emails.

Reply times should be quite quick (especially on week days) from here on out; like ducky said above, the owner is quite responsive and helpful.  :)

[Car Jack]

Message from Joe, Thursday.  Sent msg to tradeline co same day.  Response from tradeline late thurs night with all the documents.  Sent in Friday.  Message back Friday confirming all docs and that AU would be around the 1st of Feb.

This is very fast.

I also went through my old, unused cards and found a sears mastercard that's 6 years old with a $7200 credit limit.  Called them to straighten out getting on their website to set up auto pay and while on the phone, asked for and got a $10k limit.  Not on my credit report (credit karma) as I haven't ever used it.  Actually still had the "activate" sticker on it.  Used it a few times to watch it show up on my credit report.  Sears has used several banks for their credit cards and master cards.

[ducky19]

But I also thought of this thread, and how somehow I can legitimately say that I'm earning thousands of dollars a month working at home, for a few minutes per day of "work".

I timed the last add - less than five minutes. The guy from the company told me I can remove 2 AU using the Secure Message center on Citi's website, meaning removing them should take around a minute. That equates to an hourly rate of $2,000/hr. Seriously. This is crazy.

[overlord34]

I closed a few old credit cards about a year or two ago, after previously using them for a few years.  If I was able to get customer service to re-open those same accounts for me (rather than opening a new line of credit), do you think those accounts would be eligible?

[arebelspy]

I closed a few old credit cards about a year or two ago, after previously using them for a few years.  If I was able to get customer service to re-open those same accounts for me (rather than opening a new line of credit), do you think those accounts would be eligible?

Very unlikely they'll reopen ones that have been closed that long (usually they'll only do it if closed within the last 30, maybe 90, days), but if you can get them to, sure!  Reopened cards use the original opening date.

[TomTX]

I closed a few old credit cards about a year or two ago, after previously using them for a few years.  If I was able to get customer service to re-open those same accounts for me (rather than opening a new line of credit), do you think those accounts would be eligible?

Very unlikely they'll reopen ones that have been closed that long (usually they'll only do it if closed within the last 30, maybe 90, days), but if you can get them to, sure!  Reopened cards use the original opening date.

My wife tried to re-open a Chase card after ~40 days and was told it's not possible.

[FrugalSaver]

I closed a few old credit cards about a year or two ago, after previously using them for a few years.  If I was able to get customer service to re-open those same accounts for me (rather than opening a new line of credit), do you think those accounts would be eligible?

Very unlikely they'll reopen ones that have been closed that long (usually they'll only do it if closed within the last 30, maybe 90, days), but if you can get them to, sure!  Reopened cards use the original opening date.

My wife tried to re-open a Chase card after ~40 days and was told it's not possible.

I've been able to do it before after < 90 days but sometimes it's too late

[dragoncar]

At this point, I believe they should be caught up and responded to all emails, so if you emailed them more than 48 hours ago, and haven't got a response, please send a follow up, as it likely fell through the cracks in the flood of emails.

Reply times should be quite quick (especially on week days) from here on out; like ducky said above, the owner is quite responsive and helpful.  :)

 I will, been waiting a week for the pperwork

[katsiki]

Since this company does the dates a bit different (payment date vs close date), does that affect when you see most of your activity?  I used to get most of my add's near the close date with TL company 1.

[arebelspy]

I was wondering that at first too, but it doesn't seem like it--I always seem to get an add a few days before my closing date (or last minute ones the day before), even though they want the payment date.

/shrug

[TomTX]

I was wondering that at first too, but it doesn't seem like it--I always seem to get an add a few days before my closing date (or last minute ones the day before), even though they want the payment date.

/shrug

Good to know. I guess I still have 1 possible card this cycle.

[RootofGood]

No, it just needs to close with a balance that the CC company won't wipe out (often they wipe balances of 0.99 or less, depending on the company).

Wait, do they actually forgive the balance owed when <$.99? Or they don't report to CRA but you still have to pay? 

I'm feeling some Office Space coming on. Get 100 credit cards.  Charge .99 each month. Profit.

[tj]

No, it just needs to close with a balance that the CC company won't wipe out (often they wipe balances of 0.99 or less, depending on the company).

Wait, do they actually forgive the balance owed when <$.99? Or they don't report to CRA but you still have to pay? 

I'm feeling some Office Space coming on. Get 100 credit cards.  Charge .99 each month. Profit.

Depends on the issuer. Some of them forgive a $1.99 or $2.99 balance!  I once put a $1 Amazon gift card on my Pentagon Federal AmEx to keep ti active....they credit it back! and still sent me a new card. :D

[CanuckExpat]

No, it just needs to close with a balance that the CC company won't wipe out (often they wipe balances of 0.99 or less, depending on the company).

Wait, do they actually forgive the balance owed when <$.99? Or they don't report to CRA but you still have to pay? 

I'm feeling some Office Space coming on. Get 100 credit cards.  Charge .99 each month. Profit.

Discover won't charge you below $2.
Many others (Capital one for example) won't charge you below $1
i
It usually shows up as a "Small balance credit" on your statement and wipes out the balance due.

I used to buy a free avocado or two a month :)

[kpd905]

There is a list of amounts you can have forgiven on Doctor of Credit:  http://www.doctorofcredit.com/small-balance-waiver-a-k-a-lots-of-free-99-cent-amazon-gcs/

I really like the free avocados idea, although it might be easier to load up Amazon gift cards every month.

[Gimesalot]

Updating in case anyone is looking for more information...

I just received the two authorized user cards from Capital One.  Both cane in one envelope addressed to one of the buyers. 

[CanuckExpat]

I really like the free avocados idea, although it might be easier to load up Amazon gift cards every month.

But you can't exchange Amazon gift cards for avocados can you?
Priorities people...

[arebelspy]

But you can't exchange Amazon gift cards for avocados can you?

Why not?

[CanuckExpat]

But you can't exchange Amazon gift cards for avocados can you?

Why not?

I suppose I meant you can't cheaply! But suppose it's not outrageous if you bank up a lot of Amazon gift cards and have a hankering for avocados.

[TomTX]

But you can't exchange Amazon gift cards for avocados can you?

Why not?

If I'm going to the trouble of having avocados shipped to me, it's going to be the nice big green smooth old-school Florida avocados, not those Haas things.

[FrugalSaver]

I have 5 cards in the pipeline and all 5 payment dates came and passed with no AUs in january. Maybe I'll snag a couple of sales in February.

#FingersCrossed

[VladTheImpaler]

CreditKarma and Mint just give an estimate, but some of my CCs claim to give an actual FICO (Barclays).

From an email I got earlier today:

There's been a change in your FICO® Score, "the score lenders use". To view your updated credit score at no cost, please visit www.BarclaycardUS.com/servicing/score, log in to your credit card account, and select "Tools". This Alert and complimentary online credit score access are available to you as a Barclaycard Arrival™ World MasterCard® Cardmember

I don't think they could use FICO (and the registered trademark) unless it actually IS the FICO score.  I could be wrong, but I think many are estimates, like you guys are saying, but some actually are FICO scores.

Sure, but even within FICO there are 4 different generations of scoring methodology current active, and each of the credit bureaus has a slightly different data set - potentially giving you 12 different "FICO" numbers.

When we got our last mortgage, the one the banker hard pulled was an 816 - highest she had ever seen, apparently. That was awhile ago, I have a considerably longer history now.

As a followup, I activated the Fico check on my BoA card, it claims to be an actual FICO 8 calculation with the registered trademark any everything, using TransUnion for the report. Tied with Discover at 844/850

I just got my credit score and was wondering why the credit reporting agencies use different score ranges?

EQUIFAX:
334 - 818

EXPERIAN:
320 - 844

TRANSUNION:
309 - 839

Wouldn't it be easier and more clear if they all used a set scoring range?