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

[arebelspy]

Hey, I'm new here, but have been selling tradelines for about a year.   Can someone tell me who the new and old company is referenced in this forum?  I'm looking to find the highest payers. Thanks!

Sent you a PM.

Anyone wanting a referral, or to ask questions, just PM me. :)

[FtWorthAtheist]

I'm looking for recommendations for a new credit card that offers good/frequent balance transfer deals but can eventually be used for selling tradelines after the account ages.  Although I can find info on which cards offer initial balance transfer deals at opening, its hard to know after the initial period whether the card will regularly offer 0% balance transfers with a low fee and decent length.  So far my Discover is my best balance transfer card, but they're also my highest credit limit so I'd rather move my balances elsewhere and use it for tradeline income instead.  I already have cards from BofA, Chase, Amazon/Chase, Discover, Citi, Sears/Citi, CapOne, and Amex. 

In the several months since I've been selling tradelines on just two cards, I've been paying down debt almost twice as fast.  I'm really thankful for the information I've gotten from this forum, as it's making a huge difference to my financial situation, in spite of my being challenged by a lackluster income.

[ducky19]

I'm looking for recommendations for a new credit card that offers good/frequent balance transfer deals but can eventually be used for selling tradelines after the account ages.  Although I can find info on which cards offer initial balance transfer deals at opening, its hard to know after the initial period whether the card will regularly offer 0% balance transfers with a low fee and decent length.  So far my Discover is my best balance transfer card, but they're also my highest credit limit so I'd rather move my balances elsewhere and use it for tradeline income instead.  I already have cards from BofA, Chase, Amazon/Chase, Discover, Citi, Sears/Citi, CapOne, and Amex. 

In the several months since I've been selling tradelines on just two cards, I've been paying down debt almost twice as fast.  I'm really thankful for the information I've gotten from this forum, as it's making a huge difference to my financial situation, in spite of my being challenged by a lackluster income.

I've found that Barclay frequently offers 0% offers on several of my cards - I just cashed in on a 0% offer for 14 months on my Miles n More card with a 1% transfer fee. Barclay is also the gold standard for tradelines as you can add up to 6 AU at a time and they have zero track record of shutting down cards.

[secondcor521]

Barclay is also the gold standard for tradelines as you can add up to 6 AU at a time and they have zero track record of shutting down cards.

Perhaps technically true, although I have had my Barclays CC account security frozen twice now.  The first time was due to a suspicious AU.  The second time is now and I haven't called yet to find out why.  I did just add a third AU to one of my two Barclays cards a few days ago, so I'm thinking that may be it.

[katsiki]

FWIW, I only do 2 AU's per card with Barclays.  Never had an issue.

Pigs get fed, hogs get slaughtered :)

[secondcor521]

FWIW, I only do 2 AU's per card with Barclays.  Never had an issue.

Pigs get fed, hogs get slaughtered :)

Thanks.

I always go with the company's recommendations.  They recommended 5 slots with Barclays.  (This particular card is with Old Company.)

Agree with you on pigs/hogs.  Trying to be a pig.  :-)

[Car Jack]

FWIW, I only do 2 AU's per card with Barclays.  Never had an issue.

Pigs get fed, hogs get slaughtered :)

Thanks.

I always go with the company's recommendations.  They recommended 5 slots with Barclays.  (This particular card is with Old Company.)

Agree with you on pigs/hogs.  Trying to be a pig.  :-)

Interesting.....  I have one Barclays card with the old company and it's shown as 2 slots.  Mine is a "new/low limit" card from their program last year for $25 and 2 months.  They fill 2 slots every cycle.

[arebelspy]

Yesterday a member posted a thread soliciting cardholders for their new tradeline company.

I messaged a bit with them, and would absolutely avoid, for a number of reasons (in order of importance):
1) They don't verify AUs in any way, they just collect their information (driver's license/ss card)
2) Their data information security practices are nonexistent (they host cardholder data in the cloud--google docs.. yikes)
3) The CPN issue is in question (he told me they don't accept, their website indicates otherwise)
4) No privacy policy. The bottom of their website says "Copyright of [Company] @ 2019 | Privacy | Policy" but privacy and policy don't link to anything. That line looks just cut and paste from somewhere.
5) Many misspellings, broken English, nonfunctional UI, etc. on their website, just indicates poor quality. At the very least needs a copy editor.

I recommended some changes, and told him to contact me in six months and hopefully the company will be in a better place with all of that.

Just wanting to post an update for those who saw it and were wondering. As I told someone in a PM, my position is that in the end the most paramount thing is protecting the community here; besides liking all of you guys, I'd hate to have the forum get a bad reputation or articles written about some scam on MrMoneyMustache because of something like that.

If you are interested in using them anyways, no worries.  PM me and I'll send you their website link. I just don't feel comfortable with them openly soliciting users here, but I'm happy to share their info if someone wants it.  :)

PM me with any questions/concerns. Cheers!

[MasterStache]

I am pretty happy with the companies you have recommended. This year has been my best year so far selling Tradelines.

[lexde]

Thanks as always for having our backs, ARS! I don’t think it was malicious, but carelessness and/or not covering all bases can be disastrous, so thanks for checking it out.

[secondcor521]

FWIW, I only do 2 AU's per card with Barclays.  Never had an issue.

Pigs get fed, hogs get slaughtered :)

Thanks.

I always go with the company's recommendations.  They recommended 5 slots with Barclays.  (This particular card is with Old Company.)

Agree with you on pigs/hogs.  Trying to be a pig.  :-)

Interesting.....  I have one Barclays card with the old company and it's shown as 2 slots.  Mine is a "new/low limit" card from their program last year for $25 and 2 months.  They fill 2 slots every cycle.

Mine is a larger limit and an older line.  I just messaged Old Company and reduced the number of slots to 2.

[FrugalSaver]

If I had a card get cancelled for fraud (mine), do I need to do anything with the tradeline company for the new card?

[arebelspy]

If I had a card get cancelled for fraud (mine), do I need to do anything with the tradeline company for the new card?

No, it should keep the same limits, history, etc., you'll just be reissued a new card. You'll still add AUs the same way, shouldn't affect anything with tradeline sales.

[sw1tch]

Is there a way to recover information in the portal for the "new company"?  I accidentally closed my task before I fully added the user to my card.  I need to input their address.  I suppose I'll have to wait until tomorrow to get a response back from the company but wondering if there was any other way.

Thanks.

[secondcor521]

Is there a way to recover information in the portal for the "new company"?  I accidentally closed my task before I fully added the user to my card.  I need to input their address.  I suppose I'll have to wait until tomorrow to get a response back from the company but wondering if there was any other way.

Thanks.

Nope.  Just email them.

[lexde]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

[aetherie]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

Old Company has two sets of banks with different length cycles and therefore different payouts. If your $11k card is with Barclay, Citibank, Discover, PNC, or US Bank, it's $75 and a 2 month cycle. If it's with Bank of America, Capital One, or USAA, it's $125 and a 3 month cycle.

(Note: this info is copied off the document they sent me in April 2018, so it might be out of date.)

[erutio]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

It appears it should be $125.  I would email the old company about it.

[lexde]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

It appears it should be $125.  I would email the old company about it.

I did, and they told me “it’s $75”. This doesn’t seem right. :-/

[lexde]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

Old Company has two sets of banks with different length cycles and therefore different payouts. If your $11k card is with Barclay, Citibank, Discover, PNC, or US Bank, it's $75 and a 2 month cycle. If it's with Bank of America, Capital One, or USAA, it's $125 and a 3 month cycle.

(Note: this info is copied off the document they sent me in April 2018, so it might be out of date.)

Ah, okay. It is a Citi card. Thanks for the clarification!

[secondcor521]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

Old Company has two sets of banks with different length cycles and therefore different payouts. If your $11k card is with Barclay, Citibank, Discover, PNC, or US Bank, it's $75 and a 2 month cycle. If it's with Bank of America, Capital One, or USAA, it's $125 and a 3 month cycle.

(Note: this info is copied off the document they sent me in April 2018, so it might be out of date.)

Ah, okay. It is a Citi card. Thanks for the clarification!

I have a document from Old Company dated 3/5/19 which says that a card like that should be $75 for a 2 month cycle but it would be for cards that are 5+ years old.  You getting it on a 3 year card is a bit of a puzzle.

I have seen similar instances where the numbers they provide don't 100% match what their documentation says.  I suspect this is either just simple employee error or their payout schedule changes frequently, or both.

[ducky19]

I’m with Old Company and I’ve been getting $75.00 per slot on a card that is 3 years old with an $11K limit - is that right? I thought it was supposed to be $125 per, but they told me it was $75.

Looking for clarification or if I’m just reading the chart wrong?

Old Company has two sets of banks with different length cycles and therefore different payouts. If your $11k card is with Barclay, Citibank, Discover, PNC, or US Bank, it's $75 and a 2 month cycle. If it's with Bank of America, Capital One, or USAA, it's $125 and a 3 month cycle.

(Note: this info is copied off the document they sent me in April 2018, so it might be out of date.)

Ah, okay. It is a Citi card. Thanks for the clarification!

I have a document from Old Company dated 3/5/19 which says that a card like that should be $75 for a 2 month cycle but it would be for cards that are 5+ years old.  You getting it on a 3 year card is a bit of a puzzle.

I have seen similar instances where the numbers they provide don't 100% match what their documentation says.  I suspect this is either just simple employee error or their payout schedule changes frequently, or both.

My experience with several different companies is that the payout tables are constantly changing, but once you lock in a card at a specific payout, it shouldn't change much (new company being the exception).

[topshot]

Is there a way to recover information in the portal for the "new company"?  I accidentally closed my task before I fully added the user to my card.  I need to input their address.

Unless they have changed their site since I last used it, if you hover the mouse over the AU's DOB it shows their address.

[PatronWizard11]

Has anyone started a solo 401k with this 1099 income?

[wudged]

Has anyone started a solo 401k with this 1099 income?

I already had one prior to this, but I contribute income from this to it.

There's a good thread about setting up a solo 401k for mega backdoor roth at https://forum.mrmoneymustache.com/taxes/anyone-execute-a-mega-backdoor-roth-in-solo-401k/

[PatronWizard11]

Has anyone started a solo 401k with this 1099 income?

I already had one prior to this, but I contribute income from this to it.

There's a good thread about setting up a solo 401k for mega backdoor roth at https://forum.mrmoneymustache.com/taxes/anyone-execute-a-mega-backdoor-roth-in-solo-401k/

When I get paid, it only references my name and not my business name because I only have them my social... Do you think I should change this to them cutting checks to my EIN business name instead, or does it matter? It's sole proprietorship.

Does anyone know if I need to change my 1099 to reference my EIN instead of my social? I'd hate to fund my solo 401k and find out it's not allowed.

[monarda]

I've been scrolling though this thread to try and find the current compensation tables for the new company.  To doublecheck.

I have a (newly) 2 year old Barclay card enrolled, $11K limit. That should be $100, correct? It's listed wrong in the portal. I sent an email, but it'd be good to have that table handy.

[arebelspy]

I will contact both companies to get their current schedule to update the OP, and post when done.

[wudged]

Has anyone started a solo 401k with this 1099 income?

I already had one prior to this, but I contribute income from this to it.

There's a good thread about setting up a solo 401k for mega backdoor roth at https://forum.mrmoneymustache.com/taxes/anyone-execute-a-mega-backdoor-roth-in-solo-401k/

As far as I know it's fine to use either for a sole proprietorship, but I am not a tax professional.

When I get paid, it only references my name and not my business name because I only have them my social... Do you think I should change this to them cutting checks to my EIN business name instead, or does it matter? It's sole proprietorship.

Does anyone know if I need to change my 1099 to reference my EIN instead of my social? I'd hate to fund my solo 401k and find out it's not allowed.

[Padonak]

Can we make a list of cards that can be used for TL sales and add comments about positives (+) and negatives (-)?

In my experience:

-Barclaycard:
+Easy to add and remove AUs online. An option to just register AUs without issuing cards. Never heard of them shutting down accounts for AU activity.
-There seems to be a hard lifetime limit of 30 something AUs per card.

-Discover:
+An option to add and remove AUs online.
-Random audits and calls about new AUs. Sometimes card get suspended. Sometimes they ask for AU's supporting documents. Reports of card shutdowns.

-Citi:
+The only plus is that they can be used for TL sales.
-Have to call to register an AU and deal with customer service reps (some of them are smarter than others, let's put it this way). Sometimes you get transferred to another department for additional verification. They shut down cards for excessive AU activity and may even blacklist you even for life according to some reports.

BofA:
+Can register AU online.
-They shut down accounts for excessive AU activity.

Comments about other issuers would be highly appreciated.

[MasterStache]

Can we make a list of cards that can be used for TL sales and add comments about positives (+) and negatives (-)?

In my experience:

-Barclaycard:
+Easy to add and remove AUs online. An option to just register AUs without issuing cards. Never heard of them shutting down accounts for AU activity.
-There seems to be a hard lifetime limit of 30 something AUs per card.

-Discover:
+An option to add and remove AUs online.
-Random audits and calls about new AUs. Sometimes card get suspended. Sometimes they ask for AU's supporting documents. Reports of card shutdowns.

-Citi:
+The only plus is that they can be used for TL sales.
-Have to call to register an AU and deal with customer service reps (some of them are smarter than others, let's put it this way). Sometimes you get transferred to another department for additional verification. They shut down cards for excessive AU activity and may even blacklist you even for life according to some reports.

BofA:
+Can register AU online.
-They shut down accounts for excessive AU activity.

Comments about other issuers would be highly appreciated.

I'll add to Citi that it seems AU's have a higher likelihood of not posting as well. 

-USAA
+Have to call but very easy to remove AUs
- Have to call to register an AU and calls often times are very lengthy as they ask a lot of information. Higher risk of shutdown although it seems they basically just tell you to stop doing it. AU history remains on your USAA profile (so I've been told). 

-Capital One
+ An option to add and remove AUs online.
- Not sure about shutdowns for excessive AU activity.

[SilverAg47]

On July 21 I received a call from 800-347-0350 and they left a message saying I need to call 800-347-3558 about my Discover account.  I googled the first number and it came back marked as spam by quite a number of people.  I thought if it was important they could send out a letter or email me, so I did not call back.  I did log in and check my 2 cards with them and everything seemed fine.

Well, today I received an email and it said I needed to call the same 800-347-3558 number and it referenced the last 4 digits of my It card.  So just now I ended up calling the number on the back of my Discover card and asked if Discover is trying to contact me about something.  They said that they were and that I needed to be transferred to the fraud department.  There was a long wait and the original agent was checking in with me every 5 minutes or so.  I ended up asking her if she knew what this was about and she said that she didn't know but that this particular department deals with fraud and closure of accounts.  After more waiting, someone finally came on the line and said I was going to need to speak to some other person about unusual activity and I was on hold again.  I decided it was best to hang up and see if anyone has been through this before.  I fear they are going to close my It card.  I immediately cashed out the rewards I had on both my discover cards (less than $15 total).  The card they are asking about has been with the New Company for about 1 year and has had 6 AUs in all, with the most recent from 6/14/19.  This one from June is the only one currently on my Discover account and it does show as posted with the New Company.  The other Discover card has only had one AU.  Do you think that this is them just wanting scans of the license and SS card of some of the AU's, or do you think this is going to lead to closure no matter what action I take?

[arebelspy]

I've done that call with Discover a couple times. That exact number (even with the different end digit between them calling and the call back number).

They just ask for the AU names. That's all.

Look them up first and have them on hand.

They haven't cancelled my cards.

YMMV of course, but that's what has happened to me twice.

[SilverAg47]

I've done that call with Discover a couple times. That exact number (even with the different end digit between them calling and the call back number).

They just ask for the AU names. That's all.

Look them up first and have them on hand.

They haven't cancelled my cards.

YMMV of course, but that's what has happened to me twice.

Just called them back.  You are correct!  They simply wanted to confirm that I was the person to add the AU back in June and I confirmed.  Easy peasy.  Thanks!

[MoMoney88]

I had a similar issue with Discover two days ago... I tried to log into my Discover online and got an message that my account was "locked" or something, and I needed to call 1-800 # due to suspicious activity. 

I called yesterday and they asked if I added to the two AU's (one in June, one in July). Then they asked why the two AU cards had not been activated.  Strange!  I told them we have been out of town for a while and hadn't had a chance to activate yet.  Then they said they were wanting to make sure there wasn't any fraud going on with a lost card, etc.   and unlocked my online account.  Phew!

[Kcinegnet]

What are your most popular cards?

How often are you asking for CC limit raises and applying for new cards?

I want to be able to just put my tradeline cards in the sock drawer and go 'auto pilot', but I feel like the reason they have not cancelled is because I actually use them (somewhat).

[topshot]

I want to be able to just put my tradeline cards in the sock drawer and go 'auto pilot', but I feel like the reason they have not cancelled is because I actually use them (somewhat).

They MUST be used (somewhat) or they won't report. So if you want to auto-pilot then setup something you have to pay monthly (e.g., Netflix) on auto-pay. However, usage has no bearing on whether they get closed or not though if you don't charge anything for a year or two, they will likely close it down. My BoA was going to get closed for inactivity, but then I started doing tradelines on it until they closed it down for that. :P

[chuckster]

What are your most popular cards?

How often are you asking for CC limit raises and applying for new cards?

I want to be able to just put my tradeline cards in the sock drawer and go 'auto pilot', but I feel like the reason they have not cancelled is because I actually use them (somewhat).

I have some relatively new, low credit limit cards that sell frequently, but earn me little money. I have a couple of well-aged, high-limit cards that would pay handsomely, but seem to never sell.

[flashflooder]

What are your most popular cards?

How often are you asking for CC limit raises and applying for new cards?

I want to be able to just put my tradeline cards in the sock drawer and go 'auto pilot', but I feel like the reason they have not cancelled is because I actually use them (somewhat).

I set a reminder for myself every 6 months to buy a $5 GC from Amazon on my inactive cards.  A bit of a pain, because you then have to remember to pay them off (and they all close at different times), but it beats having them cancel an old card with a high limit.

[arebelspy]

What are your most popular cards?

How often are you asking for CC limit raises and applying for new cards?

I want to be able to just put my tradeline cards in the sock drawer and go 'auto pilot', but I feel like the reason they have not cancelled is because I actually use them (somewhat).

I set a reminder for myself every 6 months to buy a $5 GC from Amazon on my inactive cards.  A bit of a pain, because you then have to remember to pay them off (and they all close at different times), but it beats having them cancel an old card with a high limit.

Both of those can be automated.

You can set Amazon to automatically refill your gift card balance (though idk if you can set multiple with multiple cards--can anyone confirm?*), and definitely put your cards on autopay, so you don't have to remember that part.


*I do a different method, I just charge 2.50 to Amazon on a card when I get a TL sale, rather than regardless.

[Car Jack]

At the gas pump....put in $2.  Next card, put in $2.  Next card, put in $2......etc.  I always do this on the way home on a nice, sunny day.

[katsiki]

I do the refill as ARS mentioned above.  I have only tried it with my busiest card, so not sure about multiple cards.  However, it would be easy enough to setup an extra amazon account or 7 :)

At the gas pump....put in $2.  Next card, put in $2.  Next card, put in $2......etc.  I always do this on the way home on a nice, sunny day.

Thanks @Car Jack    I was behind you last week at the pump...  Took forever!

[secondcor521]

I do the refill as ARS mentioned above.  I have only tried it with my busiest card, so not sure about multiple cards.  However, it would be easy enough to setup an extra amazon account or 7 :)

You can do it all in one Amazon account.  I have one Amazon account and multiple piggybacking cards in there.

Paying for my kids' college textbooks, $2.50 at a time!  :-)

[Padonak]

How often do i need to use my cards (e.g. $2.50 purchase on Amazon) if I am not using them for AUs but would like to keep them from getting closed due to inactivity? If I don't use them for TLs, I don't need the bureaus to regularly post details about these cards. In this case, would one transaction per year per card be enough?

[secondcor521]

How often do i need to use my cards (e.g. $2.50 purchase on Amazon) if I am not using them for AUs but would like to keep them from getting closed due to inactivity? If I don't use them for TLs, I don't need the bureaus to regularly post details about these cards. In this case, would one transaction per year per card be enough?

Yes, that's probably sufficient.  I've never had a card closed on me for inactivity that was less than one year.

[Imustacheyouaquestion]

I got a letter from a bill collector for a former AU today. I opened it thinking it was a new card, then realized what it was. It was an $800 debt from a cable company, and they were offering to settle/cancel it for about $450.

Kind of blows my mind that someone paid hundreds of dollars to improve their credit score, racked up a huge cable bill in a few months, and then let it go to collections - presumably trashing their credit again. 

Not the first time I've gotten mail for an AU but it usually looks like credit card offers or junk. Wonder if I will get an in-person visit next?

[topshot]

I got a letter from a bill collector for a former AU today.... Not the first time I've gotten mail for an AU but it usually looks like credit card offers or junk. Wonder if I will get an in-person visit next?

I wonder if one of your cards reports your address instead of their's to their report? I've never received mail for an AU though I have only been doing this 2 years.

I've had collections for people the same name since the collector is just stabbing in the dark to find said person, but never a visit. I'd think that would be extremely rare except for a repo.

[Imustacheyouaquestion]

I wonder if one of your cards reports your address instead of their's to their report? I've never received mail for an AU though I have only been doing this 2 years.

I've gotten mail for a few, maybe 2 or 3 each year. I'm guessing debt collectors send letters to any address they can find that's associated with that SSN. I'm mostly joking about an in-person visit, but it would be funny.

[katsiki]

FWIW, I have gotten a small number of items addressed to AU's at my address over the past 2-3 years.  Oddly enough, I had a new AU last month.  Within a matter of days of the AU posting (and my receiving the AU card), I got what appeared to be a credit offer (preapproval) for them at my address.  I was surprised at how quick all of that happened.

[MasterStache]

Yep, I get occasional pieces of mail for past AUs. And on a rare occasion a phone call likely from a debt collector. I just kindly let them know this is not their phone number and please remove it as being associated with their name.

One thing that did happen that made me a bit uncomfortable was a man in a large personal tow truck showed up at my house looking for a past AU. I happened to see him before he came up to the door and cut him off outside. He was clearly looking for a vehicle. I informed him the person he was looking for did not live there. I gave him my information and offered to open the garage door so he could see the vehicles. He wasn't pushy or rude and said that he could tell I was being truthful as he was a police investigator in his previous career. We even made small talk for a bit about sports etc. Turns out the AU had a sister that lived a couple streets over from me even though the AU lived several states away. I thought that was odd. Anywho I haven't had a phone call or visit since.