Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 508971 times)

ravevan

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How do you organize your cards and adds? Do you simply rely on the company to to send you the info on when to remove? Or do you keep an overall spreadsheet with all of your cards, remove dates, commission, etc? Or does anyone keep more detailed spreadsheets for each card with the names of those you added, dates, etc? Trying to be efficient.

secondcor521

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How do you organize your cards and adds? Do you simply rely on the company to to send you the info on when to remove? Or do you keep an overall spreadsheet with all of your cards, remove dates, commission, etc? Or does anyone keep more detailed spreadsheets for each card with the names of those you added, dates, etc? Trying to be efficient.

I keep an Excel spreadsheet.  One row per AU.  Columns are:  CL, expected commission, AU name, and then dates for:  AU added, purchase made, AU card received, AU card activated, received payment, removed AU, destroyed card.  Personally I also have ticklers in my todo folder for each of my piggybacking cards for two days after the closing dates to add a charge if I have active AUs.  That way there is a balance on the card the entire duration that an AU is on there.  @arebelspy doesn't do these subsequent purchases and he has reported that they're not necessary for piggybacking to work, but the companies recommend it and it's a small effort so I do it.

ravevan

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What is your experience with citi AU's? Is any more than 2 adds in danger of getting flagged? Or are they more like Barclays with 5?

DavidAnnArbor

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I recently had 5 authorized users on my Citi card at one time. I just recently removed 3, and now down to 2 left.

ravevan

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How do you organize your cards and adds? Do you simply rely on the company to to send you the info on when to remove? Or do you keep an overall spreadsheet with all of your cards, remove dates, commission, etc? Or does anyone keep more detailed spreadsheets for each card with the names of those you added, dates, etc? Trying to be efficient.

I keep an Excel spreadsheet.  One row per AU.  Columns are:  CL, expected commission, AU name, and then dates for:  AU added, purchase made, AU card received, AU card activated, received payment, removed AU, destroyed card.  Personally I also have ticklers in my todo folder for each of my piggybacking cards for two days after the closing dates to add a charge if I have active AUs.  That way there is a balance on the card the entire duration that an AU is on there.  @arebelspy doesn't do these subsequent purchases and he has reported that they're not necessary for piggybacking to work, but the companies recommend it and it's a small effort so I do it.

Thank you. This is great.

ravevan

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I recently had 5 authorized users on my Citi card at one time. I just recently removed 3, and now down to 2 left.

That's good to know. How long did you keep five users on at one time?

chuckster

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How do you organize your cards and adds? Do you simply rely on the company to to send you the info on when to remove? Or do you keep an overall spreadsheet with all of your cards, remove dates, commission, etc? Or does anyone keep more detailed spreadsheets for each card with the names of those you added, dates, etc? Trying to be efficient.

I have a spreadsheet tab that lists: which card, request to add date, AU name, Order # from the portal, date added, date removed, amount owed, and date paid.

Because I'm an Excel nerd, the "date paid" column has both estimated and actual dates (the estimated ones are followed by a question mark "?", when the payment comes in it formats differently so it's easy to see), and underneath it totals up how much I expect to get paid in the calendar year, and then calculates the self-employment taxes I should expect to have taken out.

Elsewhere in my personal budget tab, it takes both the anticipated income and tax liability into account, and on my taxes tab it calculates the appropriate SEP IRA maximum contribution & eligible deduction.
« Last Edit: June 13, 2018, 03:03:30 PM by chuckster »

DavidAnnArbor

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I recently had 5 authorized users on my Citi card at one time. I just recently removed 3, and now down to 2 left.

That's good to know. How long did you keep five users on at one time?


I think for about a month.

Padonak

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How do you organize your cards and adds? Do you simply rely on the company to to send you the info on when to remove? Or do you keep an overall spreadsheet with all of your cards, remove dates, commission, etc? Or does anyone keep more detailed spreadsheets for each card with the names of those you added, dates, etc? Trying to be efficient.

I have a spreadsheet tab that lists: which card, request to add date, AU name, Order # from the portal, date added, date removed, amount owed, and date paid.

Because I'm an Excel nerd, the "date paid" column has both estimated and actual dates (the estimated ones are followed by a question mark "?", when the payment comes in it formats differently so it's easy to see), and underneath it totals up how much I expect to get paid in the calendar year, and then calculates the self-employment taxes I should expect to have taken out.

Elsewhere in my personal budget tab, it takes both the anticipated income and tax liability into account, and on my taxes tab it calculates the appropriate SEP IRA maximum contribution & eligible deduction.

How do you calculate SEP IRA? Would you be able to share the formula? Is it applicable to a person with a full time job who already contributes to  401K and ROTH IRA and is ineligible for a tax-deductible IRA?

chuckster

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How do you calculate SEP IRA? Would you be able to share the formula? Is it applicable to a person with a full time job who already contributes to  401K and ROTH IRA and is ineligible for a tax-deductible IRA?

Turbo Tax should be able to calculate how much you are eligible to contribute. I think with a 401K and Roth IRA you can still have an SEP IRA, but, the exact effect of your primary employer 401k on the limit you can contribute I don't know... I'm not close enough to the maximums to worry about it myself, so I haven't looked it up.

IIRC: Take your total earnings for the year from your 1099 Misc, Box 7. (Starting in 2018, I think you can first subtract 20% as a new "pass-through deduction", but I haven't gotten clarity yet on whether that applies to tradeline earnings). Then I estimate federal taxes owed based on my marginal federal rate, and state taxes I'll owe from my marginal state tax rate. Then, take 92.35% of your total from your 1099 Misc Box 7, and multiply that by 15.3%, to get what you owe in FICA. Half of that FICA can be your deduction for an SEP IRA.

To calculate the total you can actually contribute to the SEP IRA, take your 1099 Misc Box 7, subtract half of the above FICA to get a net income, and then 20% of that can be contributed to an SEP IRA (all the way up to $55,000, if you made like $300k in tradeline sales :P ).

All that should be checked with a tax advisor, yada yada, but the numbers I got in Excel matched what Turbo Tax gave me for 2017 and the Vanguard calculator (https://personal.vanguard.com/us/SbsCalculatorController), so, I think I'm right for me. You mileage may vary and all of that.

kpd905

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

katsiki

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

Me too.  I think I learned about it from one of your posts too!

DavidAnnArbor

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You can do a SEP-IRA and it's not limited by your 401k deductions, it's entirely separate.

You can also do an individual 401k but if you're already maxing out your employee deduction at your main job, then it may not be worth all the extra work to get an individual 401k going - since you'll be just entitled to the employer deduction part and therefore would be the same as the SEP-IRA.

Irinas

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hi guys,

it seems like FICO 8 experian doesnt include AU tradelines into their algorythm anymore, ie no boost is expected from AUs for experian FICO 8.

is the industry dead (now, soon, eventually)?

ravevan

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From what I understand, this has been true for at l ast 2 years but the industry is still going strong.

Irinas

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it was fine with credit check total (RIP since May 25th or something like that) but not fine with this new experian.com credit monitoring service

MasterStache

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

Short of not wanting to do all the math is it pretty safe to just throw 20% of whatever I earn in a SEP IRA? I did some part time work for my old company and earned quite a bit of non-taxed income on top of bank bonuses and selling tradelines.

katsiki

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Glad to see I am not the only one sheltering some of this income with a SEP IRA.  Maybe a CPA on the forum could chime in regarding the passthrough deduction aspect.

Short of not wanting to do all the math is it pretty safe to just throw 20% of whatever I earn in a SEP IRA? I did some part time work for my old company and earned quite a bit of non-taxed income on top of bank bonuses and selling tradelines.

Yes, in my opinion.

Vanguard and Fidelity both have calculators online as well to help.

lmf

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Has anyone gotten mail for their AUs from a different credit card company than the one you added them to?  I added an AU to my US Bank card last summer and just got mail from Discover for them marked 'Statement enclosed'.  Like they used my address to open an account at Discover or something.  What do I do with it?  I was thinking of marking it 'Not at this address. Return to sender'.

jdecandia

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Hey everyone!

I have PM'd Arebelspy, but if his travelogue/blog is anything to go by he is probably out and about adventuring and has had little time to get back to my message.

I am wondering if any of you could PM me with suggestions for a reputable company or the experiences that you have had with your companies.

Thank you!

secondcor521

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Hey everyone!

I have PM'd Arebelspy, but if his travelogue/blog is anything to go by he is probably out and about adventuring and has had little time to get back to my message.

I am wondering if any of you could PM me with suggestions for a reputable company or the experiences that you have had with your companies.

Thank you!

PM sent to you with all the info.

startbyservingothers

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From what I understand, this has been true for at l ast 2 years but the industry is still going strong.

I believe most banks use the "Mid Score"  (The second highest score.)  For mortgage approvals.  So if you boost at least 2 of their scores, then that is likely enough to get them approved.

MsFrugalista

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Has anyone gotten mail for their AUs from a different credit card company than the one you added them to?  I added an AU to my US Bank card last summer and just got mail from Discover for them marked 'Statement enclosed'.  Like they used my address to open an account at Discover or something.  What do I do with it?  I was thinking of marking it 'Not at this address. Return to sender'.

Not sure about mail since I use a virtual mailbox and any mail that is not addressed to the specified recipients gets shredded automatically. However, I have received phone calls for AUs from banks not associated with the card I had added them to. I think these are banks/debt collectors who are looking for these individuals. I just state that they have reached the wrong number and they apologize and let me know my number will be removed. I have yet to receive more than one call for the same individual.

I used to provide my phone number for the AU (some banks require this when adding them online), but now I have stopped doing that and instead provide another number so I don't get such phone calls.

katsiki

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Has anyone gotten mail for their AUs from a different credit card company than the one you added them to?  I added an AU to my US Bank card last summer and just got mail from Discover for them marked 'Statement enclosed'.  Like they used my address to open an account at Discover or something.  What do I do with it?  I was thinking of marking it 'Not at this address. Return to sender'.

No, sorry, no experience with that.  If it happens again, I might wonder more about it.  If you only see it once for 1 AU, I wouldn't worry about it.

Car Jack

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Finally got an ad with the old company.  Opened when Joe mentioned it here and the bonus money for the first sale was included.  Looking forward to getting some money off tradelines again.  It's been a loooooong time for me.

cnel85

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Hey everyone!

I have PM'd Arebelspy, but if his travelogue/blog is anything to go by he is probably out and about adventuring and has had little time to get back to my message.

I am wondering if any of you could PM me with suggestions for a reputable company or the experiences that you have had with your companies.

Thank you!

PM sent to you with all the info.

If it's not too much trouble, could you PM me with the info as well? Thanks :)

katsiki

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Finally got an ad with the old company.  Opened when Joe mentioned it here and the bonus money for the first sale was included.  Looking forward to getting some money off tradelines again.  It's been a loooooong time for me.

Wishing you lots of luck!  They are keeping me busy.

TheOnlyJustin

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If someone could PM me the information that would be greatly appreciated! I am assuming the OP gets tons of messages and hard to keep up with travel schedule. Thanks guys!

secondcor521

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PMs sent to @cnel85 and @TheOnlyJustin.

arebelspy

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Just PM me if you want a referral/more info/have questions.

While I am coincidentally traveling today (in an airport lounge at the moment), I respond to all PMs within 24 hours, and typically much shorter. Please don't clutter the thread with "PM me referral please!" :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
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Just PM me if you want a referral/more info/have questions.

While I am coincidentally traveling today (in an airport lounge at the moment), I respond to all PMs within 24 hours, and typically much shorter. Please don't clutter the thread with "PM me referral please!" :)

They allow chatbots in the lounges now?

elysianfields

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

secondcor521

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

I have the Barclays Aviator MasterCard, which means it must have come with a signup bonus of a few hundred dollars - $400 in my case IIRC.  I think there are a few flavors of the Aviator card.  For whatever reason, it has been popular with the AUs.

katsiki

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

Any barclays card is good.  NFL card offers $200 cash back from time to time.  Right now, it is only $100.  I would go with that or any other BC card w/o annual fee.

https://cards.barclaycardus.com/cards/nfl-extra-points-credit-card.html

FrugalSaver

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Can the miles earned with the Barclays Aviator card (they have a 50,000 bonus going now with the $95 annual fee) be merged with miles from an AAdvantage card? 
I already have an aAdvantage card with 100,000s of miles and would be interested in being able to pool them.

MsFrugalista

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Can the miles earned with the Barclays Aviator card (they have a 50,000 bonus going now with the $95 annual fee) be merged with miles from an AAdvantage card
I already have an aAdvantage card with 100,000s of miles and would be interested in being able to pool them.

What do you mean by AAdvantage card? Are you referring to the Citi AAdvantage card? The Barclays Aviator card is also an AAdvantage card.

If so, Assuming you're providing both Barclays and Citi with the same AAdvantage number with your application, all your points/miles earned will be posted to your American Airlines AAdvantage account. No need to do anything extra to pool or combine them.

RedwoodDreams

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Hi everyone,

As I mentioned upthread, my Barclays card was an LL Cool Bean Visa that was switched over to Shitibank and is now a MasterCard.

I'm looking for a new Barclays card because of the convenience (adding / deleting AUs online) and their seeming apathy WRT how many AUs I add to such cards.  I'd like to obtain it ASAP so that I can start seasoning it.

Any suggestions for a good Barclays card - or from another good Piggybacking option?

Me too. Did you receive the new Shitibank replacement card yet? I haven't ... Also, when I try to log into the barclays site for the Bean Visa (old card), I'm now locked out for "security reasons." Did this happen to you as well? Wondering if it has to do with transition to the new card or if they're on to me about all the AUs I've added.

I agree, adding and removing AUs was SO easy. Bummer.
« Last Edit: July 01, 2018, 12:26:46 PM by RedwoodDreams »

beekayworld

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I received an email from the new company that they will no longer accept  USAA, Cap 1, US Bank, or Elan. They expect it to be temporary while the companies do internal reviews. It's too bad because my CapitalOne has had two adds every two months.
« Last Edit: July 02, 2018, 05:03:45 PM by beekayworld »

BC_Goldman

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I received an email from the new company that they will no longer accept  USAA, Cap 1, US Bank, or Elan. They expect it to be temporary while the companies do internal reviews. It's too bad because my CapitalOne has had two adds every two months.

I'm still waiting for my first add. Someday!

MasterStache

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I received an email from the new company that they will no longer accept  USAA, Cap 1, US Bank, or Elan. They expect it to be temporary while the companies do internal reviews. It's too bad because my CapitalOne has had two adds every two months.

Last time USAA was supposedly doing an internal audit, my card was on hold for 6-7 months. Ugh!

ducky19

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Holy crap, I just got an add for my Chase card! I've had it enrolled for a year and a half, but never had a single AU - which is a shame, because it's got a $30k limit and is 14 years old. Anyone have any experience with how these post? I wonder if that has anything to do with the other issuers being pulled for the time being...

secondcor521

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Holy crap, I just got an add for my Chase card! I've had it enrolled for a year and a half, but never had a single AU - which is a shame, because it's got a $30k limit and is 14 years old. Anyone have any experience with how these post? I wonder if that has anything to do with the other issuers being pulled for the time being...

They post just fine.  IIRC they're a call in.

If new company is pulling cards from a bunch of other issuers, it would make sense that the remaining cards for sale would get more orders.

beekayworld

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Holy crap, I just got an add for my Chase card! I've had it enrolled for a year and a half, but never had a single AU - which is a shame, because it's got a $30k limit and is 14 years old. Anyone have any experience with how these post? I wonder if that has anything to do with the other issuers being pulled for the time being...

Interesting! Was the same person added to one of your other cards? They said that Chase had to be paired with another card. I don't know if that was in order to report correctly, in which case it should still be the case; or if it was the company's own guideline to keep Chase from being suspicious.  In that case, they may have loosened their own guidelines in order to have cards they can offer (Chase) while having to rest so many other card brands.

There was no mention of Chase in the email.
« Last Edit: July 03, 2018, 11:36:31 AM by beekayworld »

katsiki

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FYI, Barclays AU limit (if it exists) must be more than 36 AU's.  I had asked earlier in the thread and others mentioned or asked as well.  If I hit a limit, I will post again.

Happy 4th, yall!  :)

EscapeVelocity2020

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Just PM me if you want a referral/more info/have questions.

While I am coincidentally traveling today (in an airport lounge at the moment), I respond to all PMs within 24 hours, and typically much shorter. Please don't clutter the thread with "PM me referral please!" :)

They allow chatbots in the lounges now?

@dragoncar Nicely done...

hay_otsuka

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FYI, Barclays AU limit (if it exists) must be more than 36 AU's.  I had asked earlier in the thread and others mentioned or asked as well.  If I hit a limit, I will post again.

Happy 4th, yall!  :)
Closer to 50 ime

Sent from my Redmi 5 Plus using Tapatalk


FrugalSaver

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Can the miles earned with the Barclays Aviator card (they have a 50,000 bonus going now with the $95 annual fee) be merged with miles from an AAdvantage card
I already have an aAdvantage card with 100,000s of miles and would be interested in being able to pool them.

What do you mean by AAdvantage card? Are you referring to the Citi AAdvantage card? The Barclays Aviator card is also an AAdvantage card.

If so, Assuming you're providing both Barclays and Citi with the same AAdvantage number with your application, all your points/miles earned will be posted to your American Airlines AAdvantage account. No need to do anything extra to pool or combine them.

Yes my other one is an citi AAdvantage

BritannicaMM

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

EscapeVelocity2020

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I just wanted to say that it's taken me several days but I've finally read through this ENTIRE thread. :) Fascinating stuff. I'm usually more of a lurker than a poster but I want to thank you all the info you provide. I'll have to season some cards but I may have a few to throw into the system...

Just interested - for someone like you new to Tradelines and reading about all the cards shut down and possibly increasing risk, how do you come to the conclusion that it is worth the (steadily declining) income?  Also, as a disclaimer, I don't see this living up to the headline '20 - 40k/yr side gig', even in its heyday.  Maybe a 2 - 4k side hustle or a 40 - 200k full on business opportunity, from what I have been reading, personally.  But owning a Tradeline business might eventually expose you to fraudulent activity against the interest of some very deep pockets, not to mention that you could be facilitating some criminal activity you would probably not want to be associated with...

I dunno, my personal jury is still out on this, otherwise I would have recommended it to folks that I know need the extra money and have the credit history to offer.

Orin!

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In the last 30 days I’ve sold and added 26 of my lines for a total of $3,100.

Not too bad considering I only heard of selling tradelines 35 days ago

And a majority of those lines have already confirmed as posting on the buyer’s report.