Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 1051248 times)

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3750 on: December 31, 2019, 08:53:57 PM »
I'm wondering if I should go to the old company? Would that make a difference? I have a Cap1 card with $13k limit, 12 years old.

It's hard to tell.  I'm sure everyone wants sales, and those who aren't getting sales may decide to switch from old to new or vice versa.  Switching might help or hurt, and I don't know of any way to figure out which company has more of an excess supply.  I suspect, but don't know, that they both have quite a supply right now due to this thread.

It does seem that they just present the cards to customers and the customers pick based on their own preferences.  I suspect, but don't know, that the companies might only (or might preferentially) present cards that have upcoming closing dates in order to maximize throughput and sales.  That's what I'd try, anyways.  All the customer probably knows is the issuer, credit line, and price to buy a slot, plus maybe how many cycles they'll get as an AU.  I have no idea how they sort them to the customer - maybe the customer can sort by age, credit limit, or price.  I don't believe that they guide customers to any particular person's card.

So if you enroll with either company, you're hoping that your card stands out in the crowd.  12 years is an old card, but $13K is a relatively low limit in terms of piggybacking.  It's hard to predict how it would sell given that those two factors might cancel each other out a bit.

And the companies aren't going to go through anything special to market your cards versus mine or anyone else's.  One of the companies did do a thing once where they would let you decide to lower your commission (which they probably then discounted to the end AU) so you might get more sales at a lower rate.  I never did that and don't know if that's currently a thing, but you could inquire if that interested you.

I have one card that seems to be quite popular relative to the others, and I really don't know why.  I have another card which I thought would be more popular but it rarely gets sales.  I don't get it.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3751 on: December 31, 2019, 09:27:41 PM »
I'd love to know, for anyone willing to share, an approximate figure of what your 2019 income was.  It doesn't have to be detailed, like how many cards and or how many sales, but in general, I'd like to know if this is a 20-40k/yr side gig or a 2-4k/yr side gig.  I have some valuable cards and could start applying for new cards to season them, but I'm only really interested if this really is a 20k-ish side gig.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3752 on: December 31, 2019, 10:13:26 PM »
I'd love to know, for anyone willing to share, an approximate figure of what your 2019 income was.  It doesn't have to be detailed, like how many cards and or how many sales, but in general, I'd like to know if this is a 20-40k/yr side gig or a 2-4k/yr side gig.  I have some valuable cards and could start applying for new cards to season them, but I'm only really interested if this really is a 20k-ish side gig.

It likely isn't a 20k+ gig anymore, but solid low five-figures if you have the cards. If you're seasoning new ones, it won't be. Then likely low four-figures. If you just have a single card or two that's eligible, low three figures.

First, it depends on the details of the cards (their limits and ages and especially how many you have enrolled) for how many sales you get.

I know a few people making low five figures (10-15k range) per year. Based on information I have of MMM members, I'd say the average person has 1-2 cards enrolled, sees a sale or two every few months and makes $600-$1500 per year.

Regardless of what you make, the main benefit is the lack of time/effort required. It pays about $1000/hour because it takes about 5 minutes to add someone, 5 minutes to remove them two months later, and you get paid $150-200 for that effort. So whether you're doing it 60+ times a year and making 10k+ (and spending 10 hours a year doing it) or doing it 6 times a year (and spending 1 hour a year doing it, making about $1000 doing it), the effort to amount ratio is well worth it, for me personally.

If it's only worth it to you if you make 20k doing it for 20 hours (~2 hours/mo, say 10 AUs/mo), it likely won't be that. You'd want a dozen+ cards, old/high limits. More doable if you have a spouse with lots of cards.

I think it's most valuable for those new to MMM--still getting their financial stuff together, perhaps in debt, wanting a side-gig to accelerate things, but don't know where to start or don't have a lot of time. Even a few hundred or few thousand bucks can make a big difference to them, and the amount of effort or energy required is so low that it's huge to them.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3753 on: January 01, 2020, 12:10:51 AM »
I'd love to know, for anyone willing to share, an approximate figure of what your 2019 income was.  It doesn't have to be detailed, like how many cards and or how many sales, but in general, I'd like to know if this is a 20-40k/yr side gig or a 2-4k/yr side gig.  I have some valuable cards and could start applying for new cards to season them, but I'm only really interested if this really is a 20k-ish side gig.

A little over $2K for 3 cards.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3754 on: January 01, 2020, 12:18:56 AM »
Not discounting 2k/yr, that is 50k stache you don't have to save and seems pretty easy.  Anyone consistently making over 10k/yr?  Or maybe any strategies to get to a consistent 10k or more per year?  Thanks for being upfront everyone, I'd really hate to lose access to credit over something over-hyped.  Not that I need revolving credit for funding, but it does make life easier.
« Last Edit: January 01, 2020, 09:59:31 AM by EscapeVelocity2020 »

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3755 on: January 01, 2020, 08:23:46 AM »
I'm wondering if I should go to the old company? Would that make a difference? I have a Cap1 card with $13k limit, 12 years old.

It's hard to tell.  I'm sure everyone wants sales, and those who aren't getting sales may decide to switch from old to new or vice versa.  Switching might help or hurt, and I don't know of any way to figure out which company has more of an excess supply.  I suspect, but don't know, that they both have quite a supply right now due to this thread.

It does seem that they just present the cards to customers and the customers pick based on their own preferences.  I suspect, but don't know, that the companies might only (or might preferentially) present cards that have upcoming closing dates in order to maximize throughput and sales.  That's what I'd try, anyways.  All the customer probably knows is the issuer, credit line, and price to buy a slot, plus maybe how many cycles they'll get as an AU.  I have no idea how they sort them to the customer - maybe the customer can sort by age, credit limit, or price.  I don't believe that they guide customers to any particular person's card.

So if you enroll with either company, you're hoping that your card stands out in the crowd.  12 years is an old card, but $13K is a relatively low limit in terms of piggybacking.  It's hard to predict how it would sell given that those two factors might cancel each other out a bit.

And the companies aren't going to go through anything special to market your cards versus mine or anyone else's.  One of the companies did do a thing once where they would let you decide to lower your commission (which they probably then discounted to the end AU) so you might get more sales at a lower rate.  I never did that and don't know if that's currently a thing, but you could inquire if that interested you.

I have one card that seems to be quite popular relative to the others, and I really don't know why.  I have another card which I thought would be more popular but it rarely gets sales.  I don't get it.

Okay, well - I'll try and see what happens. I'm a little bummed to be so late to the game.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3756 on: January 01, 2020, 12:02:06 PM »
Last year, I pulled in about $1500.  I added cards during the year.  3 with new company, 7 with old company.  5 of the old company ones are low credit, newer ones, bringing $25 for 2 months.  They're by far the most consistent with 2 adds each every period.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3757 on: January 02, 2020, 07:47:09 AM »
If you use a card for selling tradelines (Barclaycard in my case), when is it safe to lower its credit limit so that existing AUs are not affected?

For example. Let's say my statement date is Jan 1. I added an AU on Dec 30 and it has already posted. The tradeline company requires that I keep the AU for about two months, so until end of February. Can I lower my credit limit on this card after January 1? February 1? March 1?

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3758 on: January 02, 2020, 08:38:55 AM »
They are paying to have that line (age/credit) through the time you have them as an AU. So I'd say until you remove them (aka the whole two month period, or 3-month cycle with some cards/companies).
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3759 on: January 02, 2020, 08:57:56 AM »
If you use a card for selling tradelines (Barclaycard in my case), when is it safe to lower its credit limit so that existing AUs are not affected?

For example. Let's say my statement date is Jan 1. I added an AU on Dec 30 and it has already posted. The tradeline company requires that I keep the AU for about two months, so until end of February. Can I lower my credit limit on this card after January 1? February 1? March 1?

It's totally safe the day after they tell you to remove the AU.  Any sooner risks losing your commission.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3760 on: January 02, 2020, 11:27:48 AM »
Has the pay table changed with the new company recently? Seems like in the portal some of the fees are different, and I don't think they've sent me an email with new rates. For example I'm still carrying an AU from a few months ago and the fee is 100, but for a more recent AU the fee is 50.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3761 on: January 03, 2020, 03:57:51 AM »
I made 5K in 2019, If I billed for December would have been close to 6K, I have my own buyer not the recommended companies. 20 K is a lot to ask from this job. I find myself scrambling with 6cards. If I up it to 8 then it seems every weekend I have to call in a few users. To make 20 k would be about 15 Au per month, so you need minimum 8 cards to support that.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3762 on: January 03, 2020, 06:37:53 AM »
I made around 5K as well this year with between 5-7 cards as I added a couple more later in the year. Making 10K seems like a huge stretch and would require a lot more cards. It also relies in consistent sales, not getting your cards shut down, running out of AU spots, etc.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3763 on: January 03, 2020, 06:29:11 PM »
I'd love to know, for anyone willing to share, an approximate figure of what your 2019 income was.  It doesn't have to be detailed, like how many cards and or how many sales, but in general, I'd like to know if this is a 20-40k/yr side gig or a 2-4k/yr side gig.  I have some valuable cards and could start applying for new cards to season them, but I'm only really interested if this really is a 20k-ish side gig.

I started selling a $31k Citi 15 year and $30k Discover 2 year in February 2019, and a $12k Cap One 15 year in July. Had consistent sales (1-2 every month or 2 depending on the card) on all 3 cards and made a little over $6k. Cap One got restricted in December so I'm probably out for a while. Part of the game I suppose.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3764 on: January 04, 2020, 06:45:25 AM »
Curious to get the experiences of others who have had their cards shut down. Between my wife and I we had about 10 cards (Barclays, Chase, Discover, and Capital One) and made $12,350 last year. Unfortunately, in September Chase shut down all of my Chase cards and my wife's. We tried again and again to get someone to tell us what, if anything, we could do to get the cards activated again, but it was like talking to a wall. Now on New Years day we had all our Capital One cards shut down. They wanted a copy of the front and back of each AUs driver's license and SS card. Obviously we don't have that. I just issue this as a warning for others that just see the easy money. It was literally a $1,000/hr side hustle while it worked. However, we didn't just lose the credit cards we had with the tradeline company, all our cards with a particular vendor (Capital One and Chase) in this case were shut down whether we used them for tradelines or not. Give this some serious thought before you add cards or have other cards with a vendor that you can't afford to lose because of their age or credit limit. Our credit score took a huge hit. To be clear, we didn't get greedy and only added 2 AUs to a card at a time and followed all other guidelines from the tradeline company.

All this to say, I have two questions for those who have experienced something similar:

1. Has anyone had any luck convincing the credit card companies to re-open accounts they have restricted or shut down for suspected tradeline activity?
2. Has anyone tried applying for cards in the future with the same vendor who shut down their accounts? For example, I obviously want to continue travel hacking and want to apply for Chase cards again in the future. Am I able to do so or am I essentially blacklisted in the future based on my current cards being shut down? Any thoughts?

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3765 on: January 04, 2020, 09:34:52 AM »
Curious to get the experiences of others who have had their cards shut down. Between my wife and I we had about 10 cards (Barclays, Chase, Discover, and Capital One) and made $12,350 last year. Unfortunately, in September Chase shut down all of my Chase cards and my wife's. We tried again and again to get someone to tell us what, if anything, we could do to get the cards activated again, but it was like talking to a wall. Now on New Years day we had all our Capital One cards shut down. They wanted a copy of the front and back of each AUs driver's license and SS card. Obviously we don't have that. I just issue this as a warning for others that just see the easy money. It was literally a $1,000/hr side hustle while it worked. However, we didn't just lose the credit cards we had with the tradeline company, all our cards with a particular vendor (Capital One and Chase) in this case were shut down whether we used them for tradelines or not. Give this some serious thought before you add cards or have other cards with a vendor that you can't afford to lose because of their age or credit limit. Our credit score took a huge hit. To be clear, we didn't get greedy and only added 2 AUs to a card at a time and followed all other guidelines from the tradeline company.

All this to say, I have two questions for those who have experienced something similar:

1. Has anyone had any luck convincing the credit card companies to re-open accounts they have restricted or shut down for suspected tradeline activity?
2. Has anyone tried applying for cards in the future with the same vendor who shut down their accounts? For example, I obviously want to continue travel hacking and want to apply for Chase cards again in the future. Am I able to do so or am I essentially blacklisted in the future based on my current cards being shut down? Any thoughts?

From the first post in this thread:

"What if the credit card company finds out? What if my card gets shut down?

That's the big (potential) drawback to this: your credit card company might close the card.  The tradeline companies I use do some things to mitigate this, like I mentioned above: having you leave the AU on for two months instead of one, limiting certain cards to only 2 tradelines (other companies that have been less likely historically to close cards they do up to 5 tradelines).

In a worst-case scenario, the credit card company may shut down other lines and accounts you have with them besides that one card, and/or refuse to issue you new cards.  Chase is the only one I'm aware of that does this, so be careful with them, but the other companies, if they shut your card down (which is rare) will likely only shut down that one single card, not any other accounts with them, nor refuse to issue you any new credit."

Which company did you use?  New or Old or a different one?

1.  I seriously doubt you will get those cards reopened.  You could try and report back and be the datapoint you wish to see in the world.

2.  See the above quote from the first post in this thread.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3766 on: January 04, 2020, 11:54:14 AM »
Damn, sucks you got so many shut down at once.

I don't use Chase at all--not worth the risk to me for them to shut down everything. They are the one who will do that, as far as I'm aware. And I have a lot of cards with them, and like 400k UR points.

I've had a B of A shut down (and my wife as well), but we continue to have other cards with them (and sell tradelines on the other cards, even). They don't seem to mind.

I've had a Capital One shut down, but just had the one card with them, so I don't know if they would have shut down other cards. Good to know they shut down multiple on you, though that sucks. I don't think anyone else has reported having multiple shut down from anyone but Chase, that I recall.

Hopefully you can, after awhile, get access to reopening new cards with them, even if they don't reinstate those ones.
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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3767 on: January 04, 2020, 01:15:52 PM »
The big 3 that are well known to scrutinize more than average are Chase, Cap One and Discover.  If you sell tradelines on these, expect to be burning the card.  I sell all 3 and expect to be shut down at some point. 

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3768 on: January 04, 2020, 02:57:07 PM »
Bank of America shut down both my cards for tradeline activity. Dont know if I am blacklisted  I may apply for more in the future.
Cap One did restrict my account, but they only wanted my social security and proof of US residency, so I eventually gave them the documents they re opened my account and i used them right away for tradelines no more than 2-3 users at a time.

I think you did well with 12 K in tradelines! be happy with that. I dont know how anyone can save up all those UR points AREBELSPY you obviously have the touch...Outstanding. I do play with chase but not getting too many adds from those cards lately.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3769 on: January 08, 2020, 11:37:26 AM »
for those that have had cards shut down, did you have a chance to use your rewards pts/$ afterwards? or they did burn once the acct card got closed?
Since most with Chase UR pts are saving them up for better exchange rate for travel rather than consistently cashing them out, potential dangerous situation there?

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3770 on: January 08, 2020, 11:57:38 AM »
for those that have had cards shut down, did you have a chance to use your rewards pts/$ afterwards? or they did burn once the acct card got closed?
Since most with Chase UR pts are saving them up for better exchange rate for travel rather than consistently cashing them out, potential dangerous situation there?

The general rule is that if the points are associated with the credit card (like Chase UR or Citi TYP or AMEX MR), then they will be lost.  If they're airline miles or hotel points, those are stored at the airline or hotel web sites and those will be kept.

In some cases, if you have multiple cards that keep credit card points alive (like two AMEX MR cards) and they only shut down one, then your other card might be enough to keep the points alive.  However, as noted above, Chase kills all your cards so in that kind of scenario you'd definitely lose the UR points.

I would also not expect advanced notice of a closure, so you probably won't be able to use them before you lose them if a CC company closes your card.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3771 on: January 09, 2020, 11:26:05 AM »
Damn, sucks you got so many shut down at once.

I don't use Chase at all--not worth the risk to me for them to shut down everything. They are the one who will do that, as far as I'm aware. And I have a lot of cards with them, and like 400k UR points.

I've had a B of A shut down (and my wife as well), but we continue to have other cards with them (and sell tradelines on the other cards, even). They don't seem to mind.

I've had a Capital One shut down, but just had the one card with them, so I don't know if they would have shut down other cards. Good to know they shut down multiple on you, though that sucks. I don't think anyone else has reported having multiple shut down from anyone but Chase, that I recall.

Hopefully you can, after awhile, get access to reopening new cards with them, even if they don't reinstate those ones.

Just to follow-up, I was using the tradeline company recommended by the Wealthy Accountant's blog. I started with the old and then new companies recommended here, but at the time the rates across the board were better with the Wealthy Accountant's recommended tradeline company for what it's worth. We followed the usual guidelines of only 2 AUs at a time, keep them on for at least 2 months, etc.

I was told by the tradeline company that Capital One went through a bit of a purge on New Years and about 5% of their clients were impacted. Capital One "froze" my cards I used for tradelines as well as other cards I had with them so just be careful. I had stopped using Capital One cards as tradelines months earlier after Chase shut down my cards, but that didn't seem to matter. For what it's worth, Chase did allow me to redeem my Ultimate Reward points within 30 days of my account being shut down so I didn't lose them. I'm told by the tradeline company that Capital One's game is that they ask you for front and back of driver's license and social security card of any AUs. Then once they have that they ask for further information and keep this up. They have never had any success against Capital One so just a warning that if they freeze your account it's game over for any impacted cards.

I did try to have my Chase cards reinstated by addressing all the reasons Chase gave me for shutting down my cards, but they rejected my appeals three consecutive times. I haven't tried applying yet for new cards with Capital One.

To date Barclaycard has been incredible. This tradeline company makes an exception for Barclaycard and lets you add 6 AUs at once. Apparently Barclaycard's policy is to allow up to 54 AUs before they shut down your card (according to tradeline company representative). However, after shutting down my Chase and Capital One cards I'm gonna take a mini retirement from tradelines before I lose any more cards.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3772 on: January 09, 2020, 11:40:38 AM »
for those that have had cards shut down, did you have a chance to use your rewards pts/$ afterwards? or they did burn once the acct card got closed?
Since most with Chase UR pts are saving them up for better exchange rate for travel rather than consistently cashing them out, potential dangerous situation there?

Discover sent me a check at 1 cent per point.  Would have preferred to cash out as gift cards for higher value

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3773 on: January 09, 2020, 12:33:13 PM »
Just to follow-up, I was using the tradeline company recommended by the Wealthy Accountant's blog. I started with the old and then new companies recommended here, but at the time the rates across the board were better with the Wealthy Accountant's recommended tradeline company for what it's worth. We followed the usual guidelines of only 2 AUs at a time, keep them on for at least 2 months, etc.

Yeah. They tend to see a lot higher rate of shut down due to sketchy AUs. Their AU verification methods are much worse, IMO, so it leads to more shutdowns. Even if you follow the guidelines of limiting the number of AUs, if they are AUs that get red flagged, then you do too.

Not worth seeing a higher volume of sales or slightly higher amount per sale if it leads to a quicker shut down, for me personally. I'd rather keep the cards open for a long time and slowly milk them. For someone wanting to burn through them quicker and maximize profit in the short run, there are plenty of tradeline companies that can do that.

Again, bummer that happened to so many at once.

Totally agree with you that Barclays is super great--online add and remove, almost unheard of shutting down a card, they just have that max lifetime limit. But might as well make 6-10k off the card while you have those AU spots to use.
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Padonak

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3774 on: January 09, 2020, 04:56:21 PM »

To date Barclaycard has been incredible. This tradeline company makes an exception for Barclaycard and lets you add 6 AUs at once. Apparently Barclaycard's policy is to allow up to 54 AUs before they shut down your card (according to tradeline company representative). However, after shutting down my Chase and Capital One cards I'm gonna take a mini retirement from tradelines before I lose any more cards.

In my experience, Barlaycard lets you add 34-35 tradelines per card before you hit the limit. They don't shut down your card but you can no longer add new tradelines to it.

bernardnb

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3775 on: January 10, 2020, 01:42:22 PM »

Good to know they shut down multiple on you, though that sucks. I don't think anyone else has reported having multiple shut down from anyone but Chase, that I recall.


When my Discover card got shut down I was seasoning a second Discover card that they also closed.  On the bright side, that card was also included in my case against them that PointsLawyer handled.

MsFrugalista

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3776 on: January 10, 2020, 08:38:03 PM »
From the new company regarding payout date:  10 weeks after the closing date

It's been 12+ weeks and still no payment nor any response from the owner to my repeated inquiries about my payment. It was my only sale with new company last year. Very disappointing to say the least. But I am also not sweating it. Old company is just a pleasure to work with and they have been getting all my cards.

RedwoodDreams

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3777 on: January 12, 2020, 11:11:56 PM »
Last year and this year I made $2400 per year selling TLs on two cards, each with two slots available.

I've had Capital One and Discover cards shut down, but my Citibank and US Bank cards are holding up (with old TL company) just fine, and I'm happy with the easy extra money every month. Thanks again to ARS for vetting the safer companies for us.

(I do occasionally seem to be stalked by a collections co. here and there looking for one of these past AUs. I just ignore the calls. One of them I answered and said I didn't know the guy, and they apologized and said they'd stop calling.)

Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3778 on: January 13, 2020, 08:54:40 AM »
I don't get any collections stuff, but Cap One has been spamming the crap out of one of my old AUs to open a card with them.  I just laugh.  They denied me for a Savor card, yet they are going after someone with a somewhat fictitious address to give them a card.

Oh yah.....SoFi has sent offers to many of my AUs.

frugalnacho

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3779 on: January 13, 2020, 11:55:05 AM »
Capital one is bastards.  They also denied me and my wife getting the savers card (I was going to let it season for TL sales), but they are basically spamming our address with applications for their cards, including the savers card.  They come addressed to me, my wife, and many AUs I've added.

Truthseeker

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3780 on: January 14, 2020, 08:18:56 AM »
Just to follow-up, I was using the tradeline company recommended by the Wealthy Accountant's blog. I started with the old and then new companies recommended here, but at the time the rates across the board were better with the Wealthy Accountant's recommended tradeline company for what it's worth. We followed the usual guidelines of only 2 AUs at a time, keep them on for at least 2 months, etc.

Yeah. They tend to see a lot higher rate of shut down due to sketchy AUs. Their AU verification methods are much worse, IMO, so it leads to more shutdowns. Even if you follow the guidelines of limiting the number of AUs, if they are AUs that get red flagged, then you do too.

Not worth seeing a higher volume of sales or slightly higher amount per sale if it leads to a quicker shut down, for me personally. I'd rather keep the cards open for a long time and slowly milk them. For someone wanting to burn through them quicker and maximize profit in the short run, there are plenty of tradeline companies that can do that.


Could very well be. I guess I didn't do enough due diligence on their buyer sourcing and vetting methods. For the community, do you have certain questions you'd ask a tradeline company when vetting? Clearly I didn't ask the right ones on how they source and vet their buyers. I know they used third party referrals, but was told anecdotally they have very stringent parameters, but maybe not.

frozen

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3781 on: January 14, 2020, 09:47:18 AM »
Has anyone with a credit card shutdown due to authorized users had success getting approved again after reapplying?

I have been shut down by Citi, Disco, and BofA and wondering if itís worth reapplying at some point.

frugalnacho

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3782 on: January 14, 2020, 10:46:32 AM »
Just to follow-up, I was using the tradeline company recommended by the Wealthy Accountant's blog. I started with the old and then new companies recommended here, but at the time the rates across the board were better with the Wealthy Accountant's recommended tradeline company for what it's worth. We followed the usual guidelines of only 2 AUs at a time, keep them on for at least 2 months, etc.

Yeah. They tend to see a lot higher rate of shut down due to sketchy AUs. Their AU verification methods are much worse, IMO, so it leads to more shutdowns. Even if you follow the guidelines of limiting the number of AUs, if they are AUs that get red flagged, then you do too.

Not worth seeing a higher volume of sales or slightly higher amount per sale if it leads to a quicker shut down, for me personally. I'd rather keep the cards open for a long time and slowly milk them. For someone wanting to burn through them quicker and maximize profit in the short run, there are plenty of tradeline companies that can do that.


Could very well be. I guess I didn't do enough due diligence on their buyer sourcing and vetting methods. For the community, do you have certain questions you'd ask a tradeline company when vetting? Clearly I didn't ask the right ones on how they source and vet their buyers. I know they used third party referrals, but was told anecdotally they have very stringent parameters, but maybe not.

I won't use any that ars didn't thoroughly vet and recommend.

MasterStache

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3783 on: January 15, 2020, 06:12:25 AM »
From the new company regarding payout date:  10 weeks after the closing date

It's been 12+ weeks and still no payment nor any response from the owner to my repeated inquiries about my payment. It was my only sale with new company last year. Very disappointing to say the least. But I am also not sweating it. Old company is just a pleasure to work with and they have been getting all my cards.

I feel your pain. You would think after years of dropping the ball on untimely payments/non responsiveness, they would have figured out a better system.

BikeFanatic

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3784 on: January 15, 2020, 06:52:30 AM »
Quote
Has anyone with a credit card shutdown due to authorized users had success getting approved again after reapplying?

I have been shut down by Citi, Disco, and BofA and wondering if itís worth reapplying at some point.

You have had alot of shut downs, do you care to share  or have any thoughts on why they shut you down? I know BOA shut me down becasue I put too many users on at once, and Capital one shut me down I believe Because I added all users on line. They did re open my accunt though after I provided  my social security card.

 

frozen

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3785 on: January 15, 2020, 07:34:06 PM »
Quote
Has anyone with a credit card shutdown due to authorized users had success getting approved again after reapplying?

I have been shut down by Citi, Disco, and BofA and wondering if itís worth reapplying at some point.

You have had alot of shut downs, do you care to share  or have any thoughts on why they shut you down? I know BOA shut me down becasue I put too many users on at once, and Capital one shut me down I believe Because I added all users on line. They did re open my accunt though after I provided  my social security card.

BofA shut me down a few years ago. I added 3 users at once and was immediately shut down. If I opened BofA again Iíd only add one user at a time.

Citi - I was adding users for a few years and eventually was shut down.

Disco - same situation as Citi

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3786 on: January 15, 2020, 07:53:34 PM »
Quote
Has anyone with a credit card shutdown due to authorized users had success getting approved again after reapplying?

I have been shut down by Citi, Disco, and BofA and wondering if itís worth reapplying at some point.

You have had alot of shut downs, do you care to share  or have any thoughts on why they shut you down? I know BOA shut me down becasue I put too many users on at once, and Capital one shut me down I believe Because I added all users on line. They did re open my accunt though after I provided  my social security card.

BofA shut me down a few years ago. I added 3 users at once and was immediately shut down. If I opened BofA again Iíd only add one user at a time.

Citi - I was adding users for a few years and eventually was shut down.

Disco - same situation as Citi

Which company were you using?  Old, New, or someone else?

Gogore

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3787 on: January 16, 2020, 06:24:51 AM »
Hey, I just wanted to say thanks to everyone that contributed to this blog and Mr. Money Mustache himself.   I stumbled across the MMM blog three years ago.   I was in 8 grand of credit card debt, which sucked for me because I was working a crappy paying job, with an unreliable car at the time, and I was quite literally going no where.  Paying that debt off seemed impossible and I was scheduled to see a bankruptcy lawyer. 

This blog gave me a different mindset on money.   It took me three years to build up my credit limits on 15 credit cards, but man was it worth it.  I made $3000 in 2018, and $7000 in 2019 with just piggybacking.   That different mindset also got me into other side hustles like selling on eBay ($100,000 in 3 years), test driving vehicles for gift cards at $500 to $1000 per year, abusing checking account opening bonuses at $2000 per year, and finding crazy ways to save money (look up free meal cards for your favorite fast food places, and also sign up for birthday clubs/apps)   

 I'm 26 years old and I am no longer in debt.  I pursued an A+ Comptia certification and started a career working on electronics, which is something that I always enjoyed.  I paid off my starter home and my 2019 vehicle that I bought brand new in October.  I feel blessed every day.   Now I have my sights set on retiring early, and every dollar after $10,000 in savings is going towards qualified dividend stocks, so that I can build my wealth free of federal taxes on up to $78,000 per year... 

Thanks again for changing my life.

I'd love to know, for anyone willing to share, an approximate figure of what your 2019 income was.  It doesn't have to be detailed, like how many cards and or how many sales, but in general, I'd like to know if this is a 20-40k/yr side gig or a 2-4k/yr side gig.  I have some valuable cards and could start applying for new cards to season them, but I'm only really interested if this really is a 20k-ish side gig.

It likely isn't a 20k+ gig anymore, but solid low five-figures if you have the cards. If you're seasoning new ones, it won't be. Then likely low four-figures. If you just have a single card or two that's eligible, low three figures.

First, it depends on the details of the cards (their limits and ages and especially how many you have enrolled) for how many sales you get.

I know a few people making low five figures (10-15k range) per year. Based on information I have of MMM members, I'd say the average person has 1-2 cards enrolled, sees a sale or two every few months and makes $600-$1500 per year.

Regardless of what you make, the main benefit is the lack of time/effort required. It pays about $1000/hour because it takes about 5 minutes to add someone, 5 minutes to remove them two months later, and you get paid $150-200 for that effort. So whether you're doing it 60+ times a year and making 10k+ (and spending 10 hours a year doing it) or doing it 6 times a year (and spending 1 hour a year doing it, making about $1000 doing it), the effort to amount ratio is well worth it, for me personally.

If it's only worth it to you if you make 20k doing it for 20 hours (~2 hours/mo, say 10 AUs/mo), it likely won't be that. You'd want a dozen+ cards, old/high limits. More doable if you have a spouse with lots of cards.

I think it's most valuable for those new to MMM--still getting their financial stuff together, perhaps in debt, wanting a side-gig to accelerate things, but don't know where to start or don't have a lot of time. Even a few hundred or few thousand bucks can make a big difference to them, and the amount of effort or energy required is so low that it's huge to them.
« Last Edit: January 16, 2020, 06:27:58 AM by Gogore »

chuckster

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3788 on: January 16, 2020, 03:26:22 PM »
From the new company regarding payout date:  10 weeks after the closing date

It's been 12+ weeks and still no payment nor any response from the owner to my repeated inquiries about my payment. It was my only sale with new company last year. Very disappointing to say the least. But I am also not sweating it. Old company is just a pleasure to work with and they have been getting all my cards.

I feel your pain. You would think after years of dropping the ball on untimely payments/non responsiveness, they would have figured out a better system.


It is pretty comical how bad the new company is about communication and timeliness.

EliteZags

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3789 on: January 16, 2020, 05:10:42 PM »
I've only had a few sales with new company but no issues with timely payment

had a few cards with BoostMyScore but they recently shut down, anyone care to recommend another company they've had good sales frequency with (either on here or PM)

I'm assuming the old company hasn't gotten any better with sales

« Last Edit: January 16, 2020, 05:17:38 PM by EliteZags »

BikeFanatic

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3790 on: January 17, 2020, 04:17:12 AM »
I forgot to mention that TLS does not take Citibank last time I checked. So if your cards are Citibank heavy as mine are, TLS may not work for you.

I consider this Tradeline business a bonus and do not expect it to last, can get shut down anytime. My best card is discover and they have audited me twice but no shut down and they have not contacted me in a year but I totally expect a letter at any point.

I do appreciate Arebelspy offering to include us in the tradeline business, he could have kept his mouth shut and I would never have made that money, thank you.
« Last Edit: January 17, 2020, 08:47:33 AM by BikeFanatic »

Catica

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3791 on: January 17, 2020, 04:21:33 AM »
It's been 3 months now and I have not gotten any adds neither from old or new company, is this normal?

Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3792 on: January 17, 2020, 07:02:22 AM »
I'm assuming the old company hasn't gotten any better with sales

Better than what?  I fill 8 to 10 spots a month with them.

Padonak

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3793 on: January 17, 2020, 07:19:17 AM »
I'm assuming the old company hasn't gotten any better with sales

Better than what?  I fill 8 to 10 spots a month with them.

What kind of cards do you use? I have 5+ years, 20k+ credit line and don't get a lot of orders. I heard that there is more demand for cheaper cards.

MasterStache

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3794 on: January 17, 2020, 08:06:10 AM »
It's been 3 months now and I have not gotten any adds neither from old or new company, is this normal?

It comes and goes in waves. Also depends on the cards you have. I'll get a rush of adds and then go "silent" for a bit. I actually prefer it that way as it likely reduces the chance of getting shut down.

Catica

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3795 on: January 17, 2020, 01:15:53 PM »
I'm assuming the old company hasn't gotten any better with sales

Better than what?  I fill 8 to 10 spots a month with them.

What kind of cards do you use? I have 5+ years, 20k+ credit line and don't get a lot of orders. I heard that there is more demand for cheaper cards.
All my cards are 5+, one is 30K and the other two are $17,000 and $19,000.  I have gotten 0 adds since I joined. 

chuckster

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3796 on: January 18, 2020, 07:38:18 PM »
30K card, 20 years perfect history, 3 sales in 3 years
10K card, 24 months old, 6 spots sold in the last year
1K card, 18 months old, haven't had a month without both spots sold

jdnews0614

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3797 on: January 20, 2020, 10:47:24 AM »
From the new company regarding payout date:  10 weeks after the closing date

It's been 12+ weeks and still no payment nor any response from the owner to my repeated inquiries about my payment. It was my only sale with new company last year. Very disappointing to say the least. But I am also not sweating it. Old company is just a pleasure to work with and they have been getting all my cards.

I feel your pain. You would think after years of dropping the ball on untimely payments/non responsiveness, they would have figured out a better system.
From the new company regarding payout date:  10 weeks after the closing date

It's been 12+ weeks and still no payment nor any response from the owner to my repeated inquiries about my payment. It was my only sale with new company last year. Very disappointing to say the least. But I am also not sweating it. Old company is just a pleasure to work with and they have been getting all my cards.

I feel your pain. You would think after years of dropping the ball on untimely payments/non responsiveness, they would have figured out a better system.

I am seriously so annoyed with the new company. I've only had 3 adds with them over the last year, and I have not gotten paid within 2 months of "on-time" (11 weeks after is what they told me is standard) and have had to send follow-up after follow-up email. I'm so frustrated! I just emailed Cliff for the 3rd time about my AU added in September 2019. After I get paid for my last add I am DONE with them. It's not worth the hassle of chasing down my payment every. single. time. ACCKK!

MoneyTree

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3798 on: January 20, 2020, 02:07:48 PM »
seriously, i don't understand how the new company can have such issues with timely payment. I've got 3 sales from last year that I'm still waiting on payment for. I don't think they are going to get their act together.

going to start slowly moving cards away from them as I find other places that will accept my lines.

katsiki

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #3799 on: January 20, 2020, 05:09:41 PM »
No such issues with old company.  Move your cards there if possible.