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

[DavidAnnArbor]

Settlement was a check.
The terms bar me from sharing the amount, but I was very pleased with the what we received.
Yes, @PointsLawyer  represented me.
We began the process last October, and I signed the agreement last month.
I fully endorse @PointsLawyer
He was excellent throughout the process

Can also reccomend and vouch for PointsLawyer.
Worked with him on closed Discover card. Easy from my side of the equation

Yes I concur. I got a settlement too. I think I got the taxation figured out for it which PointsLawyer helped with.

[Brannen]

Hey folks,

just checking in here to get some validation from separate people. For those of you who are dealing with the "old company" can someone PM me and back them up. Feeling a little spooked after sending some personal information electronically to set up my account. I'd love to hear from some of you to let me know I don't need to run for the hills and transfer all my money out of my bank account.

Sorry to wear the tinfoil hat but I need a little back up here.

Cheers,

[DavidAnnArbor]

You don't need to worry about the old company.

[secondcor521]

You don't need to worry about the old company.

+1.  Or the new company.

[Catica]

How long does it take to get adds?

[Car Jack]

How long does it take to get adds?

100% YMMV.  Depends on what cards you have with them and the demand they have.  The old company seems to have steady demand for low limit, newer cards (cheap for AU to buy).  Mine get filled every 2 month period.  I get maybe 4 total with the new company per year.  Higher limit, older cards, even with a request to pay at next notch down in order to move card sales along.  So you could have a sale right before your next closing date or it could be next July.

[Catica]

How long does it take to get adds?

100% YMMV.  Depends on what cards you have with them and the demand they have.  The old company seems to have steady demand for low limit, newer cards (cheap for AU to buy).  Mine get filled every 2 month period.  I get maybe 4 total with the new company per year.  Higher limit, older cards, even with a request to pay at next notch down in order to move card sales along.  So you could have a sale right before your next closing date or it could be next July.

Thanks.  Maybe I should have enrolled newer cards with the old company and older cards with the new company.  I did the opposite and have not had any adds yet.

[arebelspy]

Right now I'd add everything eligible with old company, and anything they don't take I'd add to New Company.

[Catica]

Right now I'd add everything eligible with old company, and anything they don't take I'd add to New Company.

Is possible to have the new company remove all my cards so I can enroll them with the old company?  Or can I have the cards enrolled with both and as soon as one of the companies sell the spot can remove it from the other company then?

[arebelspy]

Is possible to have the new company remove all my cards so I can enroll them with the old company?

Yep. Just email them and ask them to put the cards on hold.

Or can I have the cards enrolled with both and as soon as one of the companies sell the spot can remove it from the other company then?

No. They ask you to only have it enrolled at once place at a time so they can reliably offer it without you selling the spot elsewhere and it suddenly becoming unavailable.

[Catica]

Is possible to have the new company remove all my cards so I can enroll them with the old company?

Yep. Just email them and ask them to put the cards on hold.

Thanks, I just did that

[katsiki]

You don't need to worry about the old company.

+1.  Or the new company.

+2

[wienerdog]

Another close in May and no payment even when I complained about my March close in August.  Cliff said I would get paid the next week for the May one and the March one was sent.  Still nothing for May.  Seems to pretty much be the norm for the new company.

[ditkanate]

I have a sale from July I've complained about twice now with neither payment nor response.  Starting to wonder if I should just deal exclusively with "old company" going forward.  I've got a couple sales from Sept that will be the last straw for me if I don't get paid in a reasonable timeframe.  It shouldn't be this hard. 

[Kem]

After multiple inquiries I received my first payments from May (new company)

[arebelspy]

Yeah, that's the annoying thing about the new company, their payment is really slow (and response time can be poor). They prioritize other parts of the business, to the frustration of cardholders.

I think it was two years ago now they fell behind, and have gotten almost caught up a few times, but still running behind, usually two months (so a May add would normally pay end of July, instead it's more like Aug/Sept). Not acceptable. And still not having been paid is really bad.

To my knowledge, there hasn't been anyone who has not been paid--everyone has gotten paid eventually. But it is frustrating when it isn't on time, and I'm surprised some that old have slipped through.

I keep trying to find new companies (looked into two others within the last month or two), but finding ones that have good AU practices is hard.

Got a PM the other day about one of the other companies that is quite popular among the FIRE crowd because they're good at marketing, but not verifying AUs:

Spoiler: show

I seen your post about this company but I decided to give them a shot anyways since the two recommended companies wouldn't accept my tradelines.

I just wanted to let you know how it turned out for me.

I made about $[redacted] in a year, but I had two cards shut down very shortly after trying to add clients with bad information provided.   I was contacted by the fraud departments of the credit card companies very quickly after the adds being declined on their online portals.    I told the company via support that if it happened again that I would look elsewhere to sell my tradelines, and then received a call within minutes from a guy named David who was hateful as fuck.   He told me that they do background checks so that it wasn't on their end, and it wasn't their problem, and to take my business elsewhere.   

So here I am, wondering if you have any other companies that you recommend, as this side gig has helped me tremendously.

To me, better to get paid slowly and less from a good company than have cards shut down and potentially enable fraud from a bad one. That being said, there are a lot of companies out there willing to take your CCs and add random people to them.

I'll ping owner of new company and see if he can get some payments out.

As always, if you have individual concerns, PM me with the email address you use and I can try and contact them for you.

Appreciate the feedback, definitely good to know! I'll keep looking, too. (I'm hopeful a new one will start that's quality.)

[Kem]

I can stomach slow payments and monthly follow ups for the lower risk to my cards.   It took 6 months.  Probably works out to 200-400/hour (given the multiple checks/tracking/followups/etc)

[arebelspy]

Yeah, still shouldn't have to be the case. That's way, way too long. Thanks for the info!

[Michael in ABQ]

I just got setup with the old company on a newer card. They sent me the paperwork last month but I was in the middle of moving and didn't get to it until this weekend. I've got my first card ready to go so excited to see if I can sell a slot by the end of the month. If my statement close date is the 27th that means I'll probably get requests to add towards the end of the month?

[Cornel_Westside]

What do you guys say if a customer service rep asks why you are adding someone as an authorized user?

[secondcor521]

I just got setup with the old company on a newer card. They sent me the paperwork last month but I was in the middle of moving and didn't get to it until this weekend. I've got my first card ready to go so excited to see if I can sell a slot by the end of the month. If my statement close date is the 27th that means I'll probably get requests to add towards the end of the month?

Generally, yes, you'll get your add requests in the week prior to your statement close date.  However, many people have reported not getting their first sale right away.  It can take months or longer.

What do you guys say if a customer service rep asks why you are adding someone as an authorized user?

They have never asked me, and I doubt they ever will.  If they did, I would say because I want to.

[BikeFanatic]

They may ask your relationship with the user. My wife says colleague, I say friend.  You should have a planned story like you have a side hustle where your friends may need to make a few purchases. I have been grilled by fraud department and they really have never pushed me that far. Mostly they just ask me to confirm my identity. Trade lines are legal, and the credit companies put up with it if you don’t go overboard mostly IMHO.

[Kem]

What do you guys say if a customer service rep asks why you are adding someone as an authorized user?

They are 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.

[secondcor521]

There are two occasions where you might think you'll be asked about the situation with your AU.

The first is when you call (or go online) to add the AU.  The bank will ask your relationship to the AU.  I understand this is because of "Know your customer" laws that were passed in the wake of 9/11.  The person who's asking doesn't care, they just need to choose something from the drop down list on their screen.  I've never had anyone ask further beyond that when adding the AUs.

The second time is if the AU for some reason trips their fraud detector.  In this case your card might get shut down temporarily, and you'll get a message or a letter in the mail to call a special number to discuss the situation.  This is not common, but it does happen, and probably will happen to all of us eventually.  Sometimes the fraud person you talk to will ask perfunctory questions, sometimes they will grill you.  One time I was cajoled (USAA).  You can decide how you want to handle it, and may decide to handle it differently depending on how the fraud person behaves.

Depending on how the fraud situation turns out, you can have your card permanently canceled.  With Chase you can have all your Chase accounts closed, not just the CC.

[frugalnacho]

What do you guys say if a customer service rep asks why you are adding someone as an authorized user?

They've never asked me, but I would say it's none of their business a private matter and I'm allowed to add anyone I want.  If they press further or ask the relationship I would simply say it's a business associate and leave it at that.  If they pressed any further than that I would tell them I'm not comfortable discussing the details of my relationship with them. 

But they've never asked, and I can't imagine they even care.

[chuckster]

What do you guys say if a customer service rep asks why you are adding someone as an authorized user?

"He works for a contractor that's doing some work on my house. If he needs to get supplies from Home Depot, I want my rewards points!"

I don't know if they ever save that answer in a file, but, I reason it's a good excuse for not being able to track down his drivers license six months later if they ever follow up, LOL!

[Car Jack]

I have a new business and hire people around the country.  Many don't work out.

The above is all made up, of course.  If they actually look, they'll see that none of the AUs have ever even activated their card.  I receive them and they go right into the shredder at work, then the shreddings get put into a paper shopping bag and used to start my wood furnace at home.

[Kem]

OH - I have been activating each card and then making a small purchase on the activated card! 

Is this NOT required then?

[arebelspy]

OH - I have been activating each card and then making a small purchase on the activated card! 

Is this NOT required then?

I never have. For years I didn't even get them, as I used a virtual mailbox while traveling, and they rejected mail not addressed to me, so it was sent straight back to the card issuer. :P

[secondcor521]

OH - I have been activating each card and then making a small purchase on the activated card! 

Is this NOT required then?

It's recommended by one of the TL companies.  Personally I get them, activate them, file them, then shred them when I remove the AU.  Practice varies, as you can see.

[Kem]

Ah, thanks folks.

I am with the new company on these cards & appreciate the input.

[chuckster]

OH - I have been activating each card and then making a small purchase on the activated card! 

Is this NOT required then?

I think it's considered good practice to have a charge on the account, but, it doesn't have to be with that card. But I think you do want to have some balance reported, even if the charge is coming from the primary cardholder's account. Depending on the bank issuer, that may "trigger" reporting the AU's information to the credit bureaus. I guess it's possible that some banks might not bother sending out an update to the bureaus on a $0 balance.

[arebelspy]

Oh yes, good clarification. I always do a small charge using my card.

[Kem]

Another thought...
I make the small charge, but I also always pay off the balance in full every 2 weeks.  Is this kosher, or should I allow the balance to float a month?

[arebelspy]

You need to have the statement "close" with a balance. Then you pay it off.

You won't ever pay interest, as you'll pay it off before the due date (but after the statement close date).

[solon]

Another thought...
I make the small charge, but I also always pay off the balance in full every 2 weeks.  Is this kosher, or should I allow the balance to float a month?

You need to pay the balance off after the billing cycle closing date, but before the payment due date. This insures the balance gets reported to the credit reporting agencies, but you won't have to pay any interest.

[Kem]

Thank you both!

[Tryingtogetby50]

Hey all! For anyone adding AU’s to USSA accounts, have any of your accounts been closed?

[secondcor521]

Hey all! For anyone adding AU’s to USSA accounts, have any of your accounts been closed?

No, but they spoke with me once after I had added a number of AUs and guilted me into stopping on that card.

USAA seems to trigger on having 3 AUs on at any given time.  Also, one of the companies has advice about deleting the AU's customer profiles as you go along.  I never bothered doing this, and suspect it was part of what led to my lecture from them.  I still have like 13 acquaintances associated with my profile, which is obviously a lot from their perspective.

So if I were to give advice, it would be to never do more than 2 at a time at USAA, and delete/disassociate their profiles as you go along, as the TL companies recommend.

[MasterStache]

Hey all! For anyone adding AU’s to USSA accounts, have any of your accounts been closed?

No, but they spoke with me once after I had added a number of AUs and guilted me into stopping on that card.

USAA seems to trigger on having 3 AUs on at any given time.  Also, one of the companies has advice about deleting the AU's customer profiles as you go along.  I never bothered doing this, and suspect it was part of what led to my lecture from them.  I still have like 13 acquaintances associated with my profile, which is obviously a lot from their perspective.

So if I were to give advice, it would be to never do more than 2 at a time at USAA, and delete/disassociate their profiles as you go along, as the TL companies recommend.

I'll piggyback onto this. I still use my USAA card for tradelines and sell 5-6 slots per year. Never have ore than 2 AU's on the card at any one time. It's a PITA adding AU's, especially when you get an incompetent CSR. However, it's by far my biggest money maker since I have had the card for almost 18 years.

[Car Jack]

Barclays has a box that I uncheck that says "send a card".  Then I'm able to put in both the ss# and the address of the AU and don't have to worry that a card will be sent to them.  It won't be, but that avoids a worry.

[Kem]

just received a voicemail with something akin to:

Hello, this is agent 'bob smith' with westlake location services attempting to contact 'tradeline named individual'
It is critical that 'tradeline named individual' returns this call or we will move ahead with proceedings as referenced in the certified mail shown as delivered on data 'x'
We may be reached 24 hours at phone number xxx

Thoughts folks?  I added this tradeline individual on 8/19

[secondcor521]

just received a voicemail with something akin to:

Hello, this is agent 'bob smith' with westlake location services attempting to contact 'tradeline named individual'
It is critical that 'tradeline named individual' returns this call or we will move ahead with proceedings as referenced in the certified mail shown as delivered on data 'x'
We may be reached 24 hours at phone number xxx

Thoughts folks?  I added this tradeline individual on 8/19

Does anyone read what the tradeline companies' documents say?

First, they shouldn't have your phone number associated with the AU, so you did something wrong there.  Second, you're supposed to report any attempted contact by an AU to the TL company.  They'll take care of it.  Third, don't call the "xxx" phone number back.

[Kem]

1 - I've never given phone number out in this process
2 - Already did :)
3 - 100% agreed

[MoseyingAlong]

......
First, they shouldn't have your phone number associated with the AU, so you did something wrong there. 

This is not necessarily true, OP may have done everything correctly.
Your address will often (always?) show up on the AUs credit report. And it's not that difficult to associate a phone number with an address. Especially if it's a landline that's been at that address for years.

I agree, don't call back and let the AU company know.

[secondcor521]

1 - I've never given phone number out in this process
2 - Already did :)
3 - 100% agreed

Sounds good.  If I got a call I would be curious to figure out how they got my number.  The most likely thing is that you listed your phone number as the AU's number when you added them to your account.  Another likely thing is that you listed your address as the AU's address and your phone number is associated with your address somehow.  I've never done the former, but the latter has happened to me once.

(I'm saying "you" for convenient grammar, but I'm really speaking generally and not at you in particular.)

[Kem]

No offense taken - I appreciate the timely insights

edit:  per Tradeline company
Disregard the message(s).  It is a collection call on behalf of the AU.  If they call again you can tell them you have no affiliation with them and if they continue to contact you you will report them.

[robartsd]

just received a voicemail with something akin to:

Hello, this is agent 'bob smith' with westlake location services attempting to contact 'tradeline named individual'
It is critical that 'tradeline named individual' returns this call or we will move ahead with proceedings as referenced in the certified mail shown as delivered on data 'x'
We may be reached 24 hours at phone number xxx

Thoughts folks?  I added this tradeline individual on 8/19

Sounds like a collections agency call call. If they are persistent in calling you about a former AU, you can tell them that you are no longer in contact with the person. I've gotten collection calls for people I actually know, but usually they just leave off after one message. They're trying to use any avenue to contact the person, but they also don't want to waste their time. The only persistent collections calls I've gotten were for my late father. Those generally gave up after I explained that the estate was insolvent and very unlikely to pay anything to any creditor.

[Kem]

Thanks robartsd

[dragoncar]

Settlement was a check.
The terms bar me from sharing the amount, but I was very pleased with the what we received.
Yes, @PointsLawyer  represented me.
We began the process last October, and I signed the agreement last month.
I fully endorse @PointsLawyer
He was excellent throughout the process

Can also reccomend and vouch for PointsLawyer.
Worked with him on closed Discover card. Easy from my side of the equation

Yes I concur. I got a settlement too. I think I got the taxation figured out for it which PointsLawyer helped with.

I hate to give up money for work I could do myself, but at this point I’m obviously too lazy to file anything solo.  Did he me mention what the statute of limitations is on these claims?