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

[arebelspy]

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

Done! (I emailed that day, and they both replied within 24h, but there was some delay posting because I was procrastinating on dealing with having to format it as a table on the forum, because it's a pain.)  First post is updated, and here's the info as well:


Current payout schedules:

"New Company":

Spoiler: show

Updated July 2019.

	Card Age	Card Age	Card Age	Card Age
Credit Limit	12-24 months	2 years- 4 Years	4 years- 8 Years	8+ Years
$2k-$4999	$15	$25	$25	$25
$5k-$9,999	$25	$50	$50	$75 ($100 MMM)
$10k-$14,999	$50	$100	$100	$125
$15k-$19,999	$100	$125	$125	$175
$20k-$29,999	$150	$175	$175	$225
$30k-$39,999	$200	$225	$225	$250 ($275 MMM)
$40k-$49,999	$225	$250 ($275 MMM)	$250 ($275 MMM)	$275 ($300 MMM)
$50k+	$300	$300	$300	$300 ($350 if 12+ years old)

(Caveat: the ones that say "MMM" are $25 more if you use me as a referral.  See disclaimer at bottom of this post.)

"Old Company":

Spoiler: show

Updated July 2019.

Does not break out payments based on age of card; all cards must be 2+ years old and follow the commission structure below:
A. 2-Month Cycle Commission for Barclays, Citibank, Discover, PNC, US Bank, Elan, TD Bank:
1. Limit $10,000 - $15,000 - $75 per spot
2. Limit $15,001 - $20,000 - $125 per spot
3. Limit $20,001 - $30,000 - $175 per spot
4. Limit $30,001 - $40,000 - $200 per spot
5. Limit $40,001 - or more - $225 per spot

B. 3-Month Cycle Commission for Capital One, NFCU, USAA:
1. Limit $10,000 - $15,000 - $125 per spot
2. Limit $15,001 - $20,000 - $150 per spot
3. Limit $20,001 - $30,000 - $200 per spot
4. Limit $30,001 - $40,000 - $250 per spot
5. Limit $40,001 - or more - $275 per spot

C. 4-Month Cycle Commission for Chase and Bank of America:
1. Limit $10,000 - $15,000 - $175 per spot
2. Limit $15,001 - $20,000 - $200 per spot
3. Limit $20,001 - $30,000 - $250 per spot
4. Limit $30,001 - $40,000 - $275 per spot
5. Limit $40,001 - or more - $350 per spot
6. Limit $40,001 - or more + 10 years - $400 per spot

[salt cured]

Posting to follow and participate.

I have two cards I'm going to try selling lines on--an older Citi card and a newer BoA card. Both had limits of about $15k. I requested an increase to $50k on both. Citi bumped me up to $30k while I am still waiting on BoA.

Not sure that I'll want to max out lines. I don't care if either of these gets shut down, it's more that having to call in fairly often seems like it would be a little uncomfortable. I guess I'll get a feel for it once I get going. And I really should go back through this thread to see how others describe the experience.

Editing to add: I suppose there is a limit to how much credit you can open across all cards? I have about $150k across six cards. I'm wondering how much more I can get, whether by opening new cards or asking for increases. I suppose the only way to know for sure is to go after it.

[secondcor521]

Editing to add: I suppose there is a limit to how much credit you can open across all cards? I have about $150k across six cards. I'm wondering how much more I can get, whether by opening new cards or asking for increases. I suppose the only way to know for sure is to go after it.

In my experience, it is a function of your annual income, how many issuers you elect to do business with, and possibly whether you open business cards or not.

I don't know offhand, but I think I have somewhere around 8x reported income across 23 cards across 9 issuers (all the usual suspects).

[salt cured]

Editing to add: I suppose there is a limit to how much credit you can open across all cards? I have about $150k across six cards. I'm wondering how much more I can get, whether by opening new cards or asking for increases. I suppose the only way to know for sure is to go after it.

In my experience, it is a function of your annual income, how many issuers you elect to do business with, and possibly whether you open business cards or not.

I don't know offhand, but I think I have somewhere around 8x reported income across 23 cards across 9 issuers (all the usual suspects).

Wow 8x! Okay then I have some room before I hit the ceiling. Going to apply for a few more cards this week.

[Car Jack]

Wow 8x! Okay then I have some room before I hit the ceiling. Going to apply for a few more cards this week.

Be strategic!  If you've applied for more than Chase or Cap One allow over the last 2 years, stay far away from both or you burn a hard pull for nothing and reduce your chances of getting another.  For tradelines, you'll need some age on your cards, so these new cards could be some that offer bonuses for initial use, then maybe use them for low balance forgiveness, if they play that game and when they age enough, use them for tradelines.

You can move limits within a bank.  I did that with 4 BoA cards, killing one and moving the rest of the limits to one card (my oldest there) to make it more tradeline attractive.

[Padonak]

What's the deal with using cards for low balance forgiveness? Which cards can be used and for how much and how often?

[Captain Mustache]

Had my Discover card shut down today after a weird call with a rep. Was hoping it was just another fraud call. Easy come, easy go.

[Car Jack]

What's the deal with using cards for low balance forgiveness? Which cards can be used and for how much and how often?

There's a list somewhere.  Maybe DoC.  Off the top of my head, Wells $1.99, Discover, $1.99, Barclays $0.99, Citi $0.99.  There's more but mine are all tied up with tradelines, so I'd have to go back to the list to be sure.

[Pizzabrewer]

I emailed the old company to ask about starting tradeline sales. They answered they’re only accepting cards 5+ years old and $30k+ Credit limits.

[cooking]

What's the deal with using cards for low balance forgiveness? Which cards can be used and for how much and how often?

There's a list somewhere.  Maybe DoC.  Off the top of my head, Wells $1.99, Discover, $1.99, Barclays $0.99, Citi $0.99.  There's more but mine are all tied up with tradelines, so I'd have to go back to the list to be sure.

At the risk of seeming like an idiot, could someone please explain what "low balance forgiveness" is, and what the figures in the quote above represent?

[HBFIRE]

At the risk of seeming like an idiot, could someone please explain what "low balance forgiveness" is, and what the figures in the quote above represent?

If you charge a certain amount or less in a billing cycle (with nothing else on the balance- examples given in the quote), the cc company will cancel the debt out, so basically its free money.

Quick funny story.  I had roughly 10 separate student loans.  I paid them all down to ~ $15 which delayed my next payment owed until about the end of 2022.  This allowed me to keep them reporting and was good for my credit (I know they still report for 10 yrs after being closed, but was trying to extend this, im greedy).  Recently, the rates on them went up to 4.6% or something, and I didn't want to pay anything on these, so I paid them all down to about $2.  Welp, they cancelled out the remaining balance so I kind of screwed myself haha.  I guess on the flipside, I got about $20 for free.  Banks don't want to service tiny balances, it costs them more to service it.

[secondcor521]

At the risk of seeming like an idiot, could someone please explain what "low balance forgiveness" is, and what the figures in the quote above represent?

If you charge a certain amount or less in a billing cycle (with nothing else on the balance- examples given in the quote), the cc company will cancel the debt out, so basically its free money.

They will often do the same if you say, charge $2,000 and pay $1,999.52.  They'll forgive the 48 cents that you're short.  It generates goodwill for the customer, and as @HBFIRE points out, it costs them more to chase you for it than to just zero it out.

[Car Jack]

They will often do the same if you say, charge $2,000 and pay $1,999.52.  They'll forgive the 48 cents that you're short.  It generates goodwill for the customer, and as @HBFIRE points out, it costs them more to chase you for it than to just zero it out.

I would not recommend doing this.  What they technically can and probably will do is then charge you interest on the average balance of the bill you almost paid off and add the next month minimum interest charge since you didn't pay it off.

[MRIDUL]

I would like to know how is this 1099-MISC income reported? On Schedule C? Any ways to shelter it from taxes? SEP IRA/Solo 401k? Any details would be highly appreciated.

[robartsd]

They will often do the same if you say, charge $2,000 and pay $1,999.52.  They'll forgive the 48 cents that you're short.  It generates goodwill for the customer, and as @HBFIRE points out, it costs them more to chase you for it than to just zero it out.

I would not recommend doing this.  What they technically can and probably will do is then charge you interest on the average balance of the bill you almost paid off and add the next month minimum interest charge since you didn't pay it off.

If you want to attempt to get low balance forgiveness on the remainder of a larger purchase, pay down the purchase to a low balance forgiveness level before the statement date after it is charged. For instance, you can charge $2000 the day after your statement, post a payment of $1999 the day before your statement and likely get $1 balance forgiven on the statement. But if you charge $2000 on the day before you statement and post a payment of $1999 on the statement due date the remaining $1 principle plus interest must be below the low balance forgiveness threshold on your next statement (not likely - daily interest on $2000 is more than $0.50/day at 10% interest). If your balance is not below the low balance forgiveness, your entire balance is likely below the minimum payment threshold so the entire balance would be due as a minimum payment and a partial payment would yield a late fee instead of low balance forgiveness.

[CanuckExpat]

I would like to know how is this 1099-MISC income reported? On Schedule C? Any ways to shelter it from taxes? SEP IRA/Solo 401k? Any details would be highly appreciated.

Anything helpful here: https://forum.mrmoneymustache.com/taxes/small-business-and-miscellaneous-income-best-practices/msg1412209/ ?

[flashflooder]

Had my Discover card shut down today after a weird call with a rep. Was hoping it was just another fraud call. Easy come, easy go.

I don't know why these companies are still even using Discover, they seem extremely aggressive with the shutdowns.  Had mine shut down after just 2 AU's that were spaced apart by months (10+ year old account).

If you have a Discover card in play that you don't want to lose, I would ask the tradeline companies to put it on permanent hold.

[salt cured]

I emailed the old company to ask about starting tradeline sales. They answered they’re only accepting cards 5+ years old and $30k+ Credit limits.

I got the same message, and that they are accepting cards only from the following list: Barclays, Discover, PNC, USAA, NFCU, Elan, Capital One, Chase, Bank of America, Synch (Care Credit), and US Bank.

[frogstomp81]

I'm still waiting on payment from the new company for orders in January & February. Seems long to me based on other payments. Anyone else not getting paid in a timely fashion?


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[ecchastang]

PM sent for link to the company to sell tradelines. 

[flashflooder]

I'm still waiting on payment from the new company for orders in January & February. Seems long to me based on other payments. Anyone else not getting paid in a timely fashion?


Sent from my iPhone using Tapatalk

It's a constant struggle for me.  I usually give it an extra month, then start emailing.  Sometimes takes a few tries before I get a response.

[erutio]

I'm still waiting on payment from the new company for orders in January & February. Seems long to me based on other payments. Anyone else not getting paid in a timely fashion?


Sent from my iPhone using Tapatalk

It's a constant struggle for me.  I usually give it an extra month, then start emailing.  Sometimes takes a few tries before I get a response.

This is the reason I don't deal with the "new" company anymore, despite the slightly higher payouts.  I moved all my cards to the "old" company 2 years ago.  The Old company has never been late, never required extra emails, and never paid out the wrong amount.

[flashflooder]

I'm still waiting on payment from the new company for orders in January & February. Seems long to me based on other payments. Anyone else not getting paid in a timely fashion?


Sent from my iPhone using Tapatalk

It's a constant struggle for me.  I usually give it an extra month, then start emailing.  Sometimes takes a few tries before I get a response.

This is the reason I don't deal with the "new" company anymore, despite the slightly higher payouts.  I moved all my cards to the "old" company 2 years ago.  The Old company has never been late, never required extra emails, and never paid out the wrong amount.

To be clear, I've never had an issue with not being paid or being paid the wrong amount.  Just takes a little extra legwork, and is a little irritating.

[SilverAg47]

I'm still waiting on payment from the new company for orders in January & February. Seems long to me based on other payments. Anyone else not getting paid in a timely fashion?


Sent from my iPhone using Tapatalk

It's a constant struggle for me.  I usually give it an extra month, then start emailing.  Sometimes takes a few tries before I get a response.

Same for me.

I do not believe I have ever been paid by the New company unless I first sent an email or two.

[goodlivin23]

Hi all,
Can someone share (or tell me where to find) the names of the companies for this? I've got several older credit cards with high limits and want to get started with this!
Also, how many cards do you recommend applying for at one time?
Any and all info greatly appreciated!

[arebelspy]

Hi all,
Can someone share (or tell me where to find) the names of the companies for this? I've got several older credit cards with high limits and want to get started with this!
Also, how many cards do you recommend applying for at one time?
Any and all info greatly appreciated!

PM sent.

As always, if anyone has any questions/concerns, feel free to PM me. :)

[goodlivin23]

Thanks for the PM!!

[CanuckExpat]

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?

FWIW, we use a travelling mailbox service as mailing address. We have that address originally for other reasons, but it's proven handy for selling tradelines since no mail comes to us. The services usually only accept mail addressed directly to you, so anything addressed to AU is automatically destroyed, including the AU card (at least this was my understanding).

One caveat, we have never had a problem, but recently I had communication from one credit card company regarding returned mail. I assume this was AU cards sent to mailbox address which were returned to sender instead of destroyed. That triggered a little bit of account double checking, enough that it became easier for me to rest that card than deal with it.

[Padonak]

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?

FWIW, we use a travelling mailbox service as mailing address. We have that address originally for other reasons, but it's proven handy for selling tradelines since no mail comes to us. The services usually only accept mail addressed directly to you, so anything addressed to AU is automatically destroyed, including the AU card (at least this was my understanding).

One caveat, we have never had a problem, but recently I had communication from one credit card company regarding returned mail. I assume this was AU cards sent to mailbox address which were returned to sender instead of destroyed. That triggered a little bit of account double checking, enough that it became easier for me to rest that card than deal with it.

Do you put that traveling mailbox address as your home address with the banks? If so, have you ever had problems with the address not being residential? AFAIK many banks have databases of residential vs commercial/mail forwarding addresses. They can flag and even freeze or close accounts registered with mail forwarding addresses.

[arebelspy]

I've used traveling mailbox for the last four years (aug 2015 - aug 2019) as my address on everything (banks, ccs, etc) with no issues.

They do send back mail, so AU cards are returned. Never had an issue with that.

[Padonak]

I've used traveling mailbox for the last four years (aug 2015 - aug 2019) as my address on everything (banks, ccs, etc) with no issues.

They do send back mail, so AU cards are returned. Never had an issue with that.

Thanks. I am considering three mail forwarding companies: Traveling Mailbox, Escapees and St Brandan's Isle. Do you know if Traveling Mailbox is less likely to get flagged by banks as a non-residential address? Why did you choose Traveling Mailbox vs its competitors?

[arebelspy]

I don't know anything about those other ones. I don't recognize those two names. There were a few other competitors, but I couldn't say why four years ago I chose that one over them.

I do like Traveling Mailbox. Really good customer service when you need anything.

[katsiki]

I've used traveling mailbox for the last four years (aug 2015 - aug 2019) as my address on everything (banks, ccs, etc) with no issues.

They do send back mail, so AU cards are returned. Never had an issue with that.

Thanks. I am considering three mail forwarding companies: Traveling Mailbox, Escapees and St Brandan's Isle. Do you know if Traveling Mailbox is less likely to get flagged by banks as a non-residential address? Why did you choose Traveling Mailbox vs its competitors?

@Padonak   I have no personal experience with any of these.  I have seen all 3 and probably others discussed on the forum here.  You might try a couple of searches.  It seems a good number of people use these services.

[CanuckExpat]

Do you put that traveling mailbox address as your home address with the banks? If so, have you ever had problems with the address not being residential? AFAIK many banks have databases of residential vs commercial/mail forwarding addresses. They can flag and even freeze or close accounts registered with mail forwarding addresses.

I've mainly used traveling mailbox as home address for about three years, there were a couple of instances it wouldn't work, as you referred to. In that case I used the traveling mailbox as mailing address and a physical address as home address. Won't derail thread too much further, but was discussed a bit more here: https://forum.mrmoneymustache.com/post-fire/us-address-(renter)-during-extended-livingtraveling-overseas/msg2229942/#msg2229942

Will add this also means the traveling mailbox address shows up on my credit report. A couple times with mortgage applications this has led to some fun questions from underwriters, depending on how much due diligence they are doing

As ARS said, I like traveling mailbox. Good interface, good enough pricing. All works well. I haven't tested the others, I'm sure they are good too?

[Padonak]

Thank you for your detailed replies, I'll read the linked thread.

[Kem]

Discover has requested a callback (via email and mail, the number matches that on the back of my card) to discuss in detail the 2 tradeline I have added.  Has anyone else been asked for this, and if so what has been shared?

[arebelspy]

Discover has requested a callback (via email and mail, the number matches that on the back of my card) to discuss in detail the 2 tradeline I have added.  Has anyone else been asked for this, and if so what has been shared?

See this post, and the 3 replies after it: https://forum.mrmoneymustache.com/share-your-badassity/selling-tradelines-piggybacking-part-ii-$1000hr-20-40kyr-side-gig/msg2423321/#msg2423321

[Padonak]

Discover has requested a callback (via email and mail, the number matches that on the back of my card) to discuss in detail the 2 tradeline I have added.  Has anyone else been asked for this, and if so what has been shared?

It happened to me a few times. They called to confirm that i added the AUs. A couple of times they requested supporting documents (drivers license and SSN card).

[Kem]

Awesome, thanks folks!

[geekette]

I don't sell tradelines, but I've followed along here occasionally.  I added a cousin to an old high limit account a few years ago to help with her credit score.  The card came to my house, as expected.

A couple weeks ago, my mother added me to her Chase Sapphire account.  We were renting a car, I was driving, and we wanted the extra insurance. 

Instead of sending the card to her house, it came to mine. 

If I were selling tradelines, this would make me very nervous.  Why would they send the card to me???

[arebelspy]

I don't sell tradelines, but I've followed along here occasionally.  I added a cousin to an old high limit account a few years ago to help with her credit score.  The card came to my house, as expected.

A couple weeks ago, my mother added me to her Chase Sapphire account.  We were renting a car, I was driving, and we wanted the extra insurance. 

Instead of sending the card to her house, it came to mine. 

If I were selling tradelines, this would make me very nervous.  Why would they send the card to me???

That's really weird, and against their protocol.

I imagine your mom might be able to call and find out why.

In any case, it's not something I worry about in the slightest.  In a combined 20ish years between the 2 TL companies, they've never once had an AU make an unauthorized charge on a card they're authorized on.

In 3+ years since I first posted and many many (thousands?) of AU sales for Mustachians, no one has ever reported an issue with an AU making a charge on their CC.

It's just not something I'd worry about at all, personally. 

[erutio]

Has anyone figured out a work around for the AU limit on Barclay's cards?

[Padonak]

Has anyone figured out a work around for the AU limit on Barclay's cards?

I tried replacing the card and changing the product... didn't work. What's the limit btw? I think it was about 34 on the card I tried to replace.

[secondcor521]

I don't sell tradelines, but I've followed along here occasionally.  I added a cousin to an old high limit account a few years ago to help with her credit score.  The card came to my house, as expected.

A couple weeks ago, my mother added me to her Chase Sapphire account.  We were renting a car, I was driving, and we wanted the extra insurance. 

Instead of sending the card to her house, it came to mine. 

If I were selling tradelines, this would make me very nervous.  Why would they send the card to me???

That's really weird, and against their protocol.

I imagine your mom might be able to call and find out why.

In any case, it's not something I worry about in the slightest.  In a combined 20ish years between the 2 TL companies, they've never once had an AU make an unauthorized charge on a card they're authorized on.

In 3+ years since I first posted and many many (thousands?) of AU sales for Mustachians, no one has ever reported an issue with an AU making a charge on their CC.

It's just not something I'd worry about at all, personally.

I trust Chase not to send it to the AU address because in their online "add AU" process they explicitly say which address they'll send it to, and it's always my address, not the AU address.

I've added AUs to multiple cards across multiple issuers and never had one go to the AU address.  I did have one CSR once say they were going to ship it to the AU, but I asked her to send it to me instead, and it came to me.  I think she was an inexperienced CSR.

There are a couple of issuers, and Chase may be one of them, where if you specifically ask them to send the card to the AU, they will.  If it was a family member, that's probably what I would do.  It's what I'm guessing @geekette's Mom did in this case.

[geekette]

I don't sell tradelines, but I've followed along here occasionally.  I added a cousin to an old high limit account a few years ago to help with her credit score.  The card came to my house, as expected.

A couple weeks ago, my mother added me to her Chase Sapphire account.  We were renting a car, I was driving, and we wanted the extra insurance. 

Instead of sending the card to her house, it came to mine. 

If I were selling tradelines, this would make me very nervous.  Why would they send the card to me???

That's really weird, and against their protocol.

I imagine your mom might be able to call and find out why.

In any case, it's not something I worry about in the slightest.  In a combined 20ish years between the 2 TL companies, they've never once had an AU make an unauthorized charge on a card they're authorized on.

In 3+ years since I first posted and many many (thousands?) of AU sales for Mustachians, no one has ever reported an issue with an AU making a charge on their CC.

It's just not something I'd worry about at all, personally.

I trust Chase not to send it to the AU address because in their online "add AU" process they explicitly say which address they'll send it to, and it's always my address, not the AU address.

I've added AUs to multiple cards across multiple issuers and never had one go to the AU address.  I did have one CSR once say they were going to ship it to the AU, but I asked her to send it to me instead, and it came to me.  I think she was an inexperienced CSR.

There are a couple of issuers, and Chase may be one of them, where if you specifically ask them to send the card to the AU, they will.  If it was a family member, that's probably what I would do.  It's what I'm guessing @geekette's Mom did in this case.

Mom’s 84; I’m sure she called and you’re right, she probably asked them to send it to me. That makes me feel better.

[Kem]

Discover has requested a callback (via email and mail, the number matches that on the back of my card) to discuss in detail the 2 tradeline I have added.  Has anyone else been asked for this, and if so what has been shared?

See this post, and the 3 replies after it: https://forum.mrmoneymustache.com/share-your-badassity/selling-tradelines-piggybacking-part-ii-$1000hr-20-40kyr-side-gig/msg2423321/#msg2423321

Thanks again - just off a LONG call with DC.  They wanted to verify the recent AU adds (May and July), confirm the SSN/Addresses, and requested reason behind the add

[salt cured]

Discover has requested a callback (via email and mail, the number matches that on the back of my card) to discuss in detail the 2 tradeline I have added.  Has anyone else been asked for this, and if so what has been shared?

See this post, and the 3 replies after it: https://forum.mrmoneymustache.com/share-your-badassity/selling-tradelines-piggybacking-part-ii-$1000hr-20-40kyr-side-gig/msg2423321/#msg2423321

Thanks again - just off a LONG call with DC.  They wanted to verify the recent AU adds (May and July), confirm the SSN/Addresses, and requested reason behind the add

What reason did you provide?

[Kem]

What reason did you provide?

They are 2 individuals who helped me earn some side money and who may have need to access to my credit card for future purchasing requirements - and if so I will deliver the cards to them directly.

[merula]

What reason did you provide?

They are 2 individuals who helped me earn some side money and who may have need to access to my credit card for future purchasing requirements - and if so I will deliver the cards to them directly.

This is GOLD. Perfectly logical, true and on the up-and-up.

[Kem]

I'm glad you like it merula :)