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

[erutio]

Yes that was my only account with them.

I'm wondering if you have more than one CC if they close them all or just the one that had AUs

They only close the accounts in question.

Data point: In 2017, I had 3 CCs with them, 2 used for selling tradelines.  Both of those were shut down, my last CC wasn't.  I have since opened 2 more CCs with BofA, back up to 3 total.  I'm letting them season to drop them back into the AU game soon.

So:
- Bofa only closes the AU cards.
- They don't blacklist you from applying for new cards afterwards.

[Catica]

Yes that was my only account with them.

I'm wondering if you have more than one CC if they close them all or just the one that had AUs

They only close the accounts in question.

Data point: In 2017, I had 3 CCs with them, 2 used for selling tradelines.  Both of those were shut down, my last CC wasn't.  I have since opened 2 more CCs with BofA, back up to 3 total.  I'm letting them season to drop them back into the AU game soon.

So:
- Bofa only closes the AU cards.
- They don't blacklist you from applying for new cards afterwards.

Thanks, good to know!

[secondcor521]

Yes that was my only account with them.

I'm wondering if you have more than one CC if they close them all or just the one that had AUs

They only close the accounts in question.

Data point: In 2017, I had 3 CCs with them, 2 used for selling tradelines.  Both of those were shut down, my last CC wasn't.  I have since opened 2 more CCs with BofA, back up to 3 total.  I'm letting them season to drop them back into the AU game soon.

So:
- Bofa only closes the AU cards.
- They don't blacklist you from applying for new cards afterwards.

Good data point, and tracks with what the tradeline companies say.

Do note that this behavior varies by issuer.  I believe Chase will close all accounts (credit cards and bank accounts) and I think they blacklist you for a while if not forever.  However I think Chase is also singular in their zeal; most other CC companies are more like BofA.

[DavidAnnArbor]

Thanks PointsLawyer for the Discover card settlement.

As it turns out Discover did provide a 1099 for the settlement, but I am ready for that and know how to do the taxes for it.

[px4shooter]

I have 4 AU adds that just popped up today with the New Company.  It is the same two people, twice.  They both are to be added on a Barclay card and also on a Discover card.  Both people have an identical address, and when I google it, it is a UPS store.  Should I be concerned at all by doing these adds?

My first guess would be that it is likely a couple (unmarried or married without name change) looking to improve credit scores for both of them in advance of a joint major purchase. If they are approaching the purchase with similar credit and need their combined income to qualify for the loan, it could make sense to purchase the same tradeline slots for both of them. No harm in asking the TL company to make sure it is OK though.

That could be. But it seems more like it is a synthetic identity being created.

[BikeFanatic]

RE Bank of America I had two newish cards with them, say a year old each. I used both for trade lines and was shut down after a few months. They shut both cards that had tradelines on them. I may have added 3 ton4 on each card. I have not applied for another card again, it has been 2.5 years.

[Catica]

RE Bank of America I had two newish cards with them, say a year old each. I used both for trade lines and was shut down after a few months. They shut both cards that had tradelines on them. I may have added 3 ton4 on each card. I have not applied for another card again, it has been 2.5 years.

I was advised to never use more than one card for trade lines from the same bank

[BikeFanatic]

That is interesting about not using the same bank cards, could be an important data point  regarding shutdowns that’s missing.
Currently I have been using only one card per bank and have not been shut down in years. I have had to answer to fraud department a few times with TD bank and discover. But I continue to add tradelines up until the recommended amount. Discover 2or 3 users at a time. Barclays up to 5, Citibank up to 3, Capital One 2 maybe 3 max.

[katsiki]

That is interesting about not using the same bank cards, could be an important data point  regarding shutdowns that’s missing.

Yes, interesting.

On a good note, Barclays doesn't care about that. 

[BikeFanatic]

I love Barclays they are so laid back. My next card is a 2 year old Barclays, I feel that I am coming to the plateau of AU, that I can add to my old Barclays, so I hope you are right and I can chug along with the newer card when the inevitable 30 or 35 user endpoint arrives. I wonder if Discover has something similar?

[Catica]

That is interesting about not using the same bank cards, could be an important data point  regarding shutdowns that’s missing.
Currently I have been using only one card per bank and have not been shut down in years. I have had to answer to fraud department a few times with TD bank and discover. But I continue to add tradelines up until the recommended amount. Discover 2or 3 users at a time. Barclays up to 5, Citibank up to 3, Capital One 2 maybe 3 max.

I believe that's in the old company's instructions.

[secondcor521]

That is interesting about not using the same bank cards, could be an important data point  regarding shutdowns that’s missing.
Currently I have been using only one card per bank and have not been shut down in years. I have had to answer to fraud department a few times with TD bank and discover. But I continue to add tradelines up until the recommended amount. Discover 2or 3 users at a time. Barclays up to 5, Citibank up to 3, Capital One 2 maybe 3 max.

I've used multiple cards at USBank and Chase and haven't had any cards shut down, and I've been piggybacking for about 2 1/2 years.

I do follow virtually all TL company recommendations and work with the TL companies recommended by ARS.  I think those two steps, plus decent social engineering skills with CSRs, are largely but probably not 100% protective.

It's also probably a good time to mention again the recommendation (I'm pretty sure it's in the OP and/or the TL instructions) that you only piggyback with cards and companies that you're OK with getting shut down.

[MasterStache]

I love Barclays they are so laid back. My next card is a 2 year old Barclays, I feel that I am coming to the plateau of AU, that I can add to my old Barclays, so I hope you are right and I can chug along with the newer card when the inevitable 30 or 35 user endpoint arrives. I wonder if Discover has something similar?

Barclays is the best. So easy to add and remove AU's. Exactly zero issues to this point. I've got one BofA card and had I think 3 or 4 spots sold last year, so not a lot. Still up and running. My highest value card is USAA but I cringe every time I get an AU add with them.

[Car Jack]

I've got 2 with Barclays and 2 with US Bank.  They're all in the old company's new/low limit program.  I literally get 2 AUs on each card every period (2 months).  I've had no problem with any of them.

[Padonak]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

[katsiki]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

Probably not helpful but I have found over many years that Barclays is very conservative with credit limits.  I think they also do a hard pull if you request the increase.  May not be worth the hard pull.

[MasterStache]

I recently received two adds on my BofA card. I noticed the "when to remove" dates are 4 and 5 months out. Could be a new change to help prevent shutdowns. I'm cool with that as those slots weren't getting filled much anyways.

[ducky19]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

Probably not helpful but I have found over many years that Barclays is very conservative with credit limits.  I think they also do a hard pull if you request the increase.  May not be worth the hard pull.

My experience with Barclays: they wouldn't approve more than 4 cards at any one time for me or my wife. Our total credit limit is identical across all of our cards ($42,000 each), so I'm guessing they peg that to a percentage of your total self reported income (in our case 28%). If you want a higher limit, you can always update your income information and then make the request. No guarantees this will work, but if you are going to risk the hard inquiry (can confirm) it would be worth doing.

My wife and I also recently hit the limit of AU on one card each. I added them up and it was 30 users on each card. Once I get notification to remove the final user on each of those accounts, I will be closing them and applying for another card. Barclays is by far the best issuer for selling tradelines. I have offered (and sold) as many as six slots with each of my cards and have had exactly ZERO issues. If you're just getting into the credit card churning game, there are better cards to get for the sign up bonus (though Barclays does have some decent ones). But if you're looking to get into the tradeline sales game, Barclays is the way to go, hands down. I have made just under $10,000 over the past 4 years on just those cards alone. The rest of my cards barely total $3,000 and are much more painful for adds, removals, or both.

[MasterStache]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

Probably not helpful but I have found over many years that Barclays is very conservative with credit limits.  I think they also do a hard pull if you request the increase.  May not be worth the hard pull.

My experience with Barclays: they wouldn't approve more than 4 cards at any one time for me or my wife. Our total credit limit is identical across all of our cards ($42,000 each), so I'm guessing they peg that to a percentage of your total self reported income (in our case 28%). If you want a higher limit, you can always update your income information and then make the request. No guarantees this will work, but if you are going to risk the hard inquiry (can confirm) it would be worth doing.

My wife and I also recently hit the limit of AU on one card each. I added them up and it was 30 users on each card. Once I get notification to remove the final user on each of those accounts, I will be closing them and applying for another card. Barclays is by far the best issuer for selling tradelines. I have offered (and sold) as many as six slots with each of my cards and have had exactly ZERO issues. If you're just getting into the credit card churning game, there are better cards to get for the sign up bonus (though Barclays does have some decent ones). But if you're looking to get into the tradeline sales game, Barclays is the way to go, hands down. I have made just under $10,000 over the past 4 years on just those cards alone. The rest of my cards barely total $3,000 and are much more painful for adds, removals, or both.

I was just looking through the Barclay offerings yesterday. My spouse and I both fell back under 5/24 and hit the Chase cards pretty hard for a bit. I am thinking long(er) term for selling tradelines. We have a couple Barclaycards in the system that sell routinely. I see Barclays has quite a few offerings. Wondering if they all will work for tradelines? Honestly I don't know that I can get any use from any of the sign up bonuses. Already have the Arrival and Aviator cards.

[Catica]

With the new company how long does it take for the AU to post?  I added an AU in March and it still showing as pending on their portal.

[MasterStache]

With the new company how long does it take for the AU to post?  I added an AU in March and it still showing as pending on their portal.

Sometimes it takes a while. I don't think that's unusual.

[ducky19]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

Probably not helpful but I have found over many years that Barclays is very conservative with credit limits.  I think they also do a hard pull if you request the increase.  May not be worth the hard pull.

My experience with Barclays: they wouldn't approve more than 4 cards at any one time for me or my wife. Our total credit limit is identical across all of our cards ($42,000 each), so I'm guessing they peg that to a percentage of your total self reported income (in our case 28%). If you want a higher limit, you can always update your income information and then make the request. No guarantees this will work, but if you are going to risk the hard inquiry (can confirm) it would be worth doing.

My wife and I also recently hit the limit of AU on one card each. I added them up and it was 30 users on each card. Once I get notification to remove the final user on each of those accounts, I will be closing them and applying for another card. Barclays is by far the best issuer for selling tradelines. I have offered (and sold) as many as six slots with each of my cards and have had exactly ZERO issues. If you're just getting into the credit card churning game, there are better cards to get for the sign up bonus (though Barclays does have some decent ones). But if you're looking to get into the tradeline sales game, Barclays is the way to go, hands down. I have made just under $10,000 over the past 4 years on just those cards alone. The rest of my cards barely total $3,000 and are much more painful for adds, removals, or both.

I was just looking through the Barclay offerings yesterday. My spouse and I both fell back under 5/24 and hit the Chase cards pretty hard for a bit. I am thinking long(er) term for selling tradelines. We have a couple Barclaycards in the system that sell routinely. I see Barclays has quite a few offerings. Wondering if they all will work for tradelines? Honestly I don't know that I can get any use from any of the sign up bonuses. Already have the Arrival and Aviator cards.

I've opened several of their cards with little regard to the bonuses. The Uber card initially offered $100 cash back, but then changed it to $100 Uber Cash (which I have no use for). As far as I know they should all work for selling tradelines. If you're opening it for that specific purpose I would stick to the ones with no annual fee.

[Michael in ABQ]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

Probably not helpful but I have found over many years that Barclays is very conservative with credit limits.  I think they also do a hard pull if you request the increase.  May not be worth the hard pull.

My experience with Barclays: they wouldn't approve more than 4 cards at any one time for me or my wife. Our total credit limit is identical across all of our cards ($42,000 each), so I'm guessing they peg that to a percentage of your total self reported income (in our case 28%). If you want a higher limit, you can always update your income information and then make the request. No guarantees this will work, but if you are going to risk the hard inquiry (can confirm) it would be worth doing.

My wife and I also recently hit the limit of AU on one card each. I added them up and it was 30 users on each card. Once I get notification to remove the final user on each of those accounts, I will be closing them and applying for another card. Barclays is by far the best issuer for selling tradelines. I have offered (and sold) as many as six slots with each of my cards and have had exactly ZERO issues. If you're just getting into the credit card churning game, there are better cards to get for the sign up bonus (though Barclays does have some decent ones). But if you're looking to get into the tradeline sales game, Barclays is the way to go, hands down. I have made just under $10,000 over the past 4 years on just those cards alone. The rest of my cards barely total $3,000 and are much more painful for adds, removals, or both.

I was just looking through the Barclay offerings yesterday. My spouse and I both fell back under 5/24 and hit the Chase cards pretty hard for a bit. I am thinking long(er) term for selling tradelines. We have a couple Barclaycards in the system that sell routinely. I see Barclays has quite a few offerings. Wondering if they all will work for tradelines? Honestly I don't know that I can get any use from any of the sign up bonuses. Already have the Arrival and Aviator cards.

I've opened several of their cards with little regard to the bonuses. The Uber card initially offered $100 cash back, but then changed it to $100 Uber Cash (which I have no use for). As far as I know they should all work for selling tradelines. If you're opening it for that specific purpose I would stick to the ones with no annual fee.

I have the Arrival card which provided a pretty nice bonus but when I looked at the rest of their cards none really made sense to me. I don't plan on flying anywhere for a while, and if I did it would probably not be with any of the airlines they have cards for. I've got a 15k limit on the Arrival card. When you opened additional accounts did they provide you with a similar limit to the ones you already had? If I'm going to open a new CC a few hundred dollars in signup bonus now seems a better deal than being able to sell tradelines in a year or two - and maybe not getting any sales with a new or lower limit card. I added one newer card with the old company when they were accepting those about six months ago and nothing yet. I guess in a year or two after the recession there will probably be an uptick in people looking to fix their credit. So maybe now is the time to start seasoning some cards.

[Car Jack]

Hey Michael.  I think that cards added at the old company can take 6 months to start to get AUs but then they'll become pretty regular.  I've got a bunch of new/low limit ones with them from the first time they did it and one from 6 months ago.  The first round ones get 2 AUs every period (2 months) and the newest add got it's first AU this week.

[MasterStache]

Any tips on credit line increase requests with Barclays? I tried to increase my credit line a few months ago but they declined and said that I already had enough between 3 or 4 cards I had with them at the time.

Probably not helpful but I have found over many years that Barclays is very conservative with credit limits.  I think they also do a hard pull if you request the increase.  May not be worth the hard pull.

My experience with Barclays: they wouldn't approve more than 4 cards at any one time for me or my wife. Our total credit limit is identical across all of our cards ($42,000 each), so I'm guessing they peg that to a percentage of your total self reported income (in our case 28%). If you want a higher limit, you can always update your income information and then make the request. No guarantees this will work, but if you are going to risk the hard inquiry (can confirm) it would be worth doing.

My wife and I also recently hit the limit of AU on one card each. I added them up and it was 30 users on each card. Once I get notification to remove the final user on each of those accounts, I will be closing them and applying for another card. Barclays is by far the best issuer for selling tradelines. I have offered (and sold) as many as six slots with each of my cards and have had exactly ZERO issues. If you're just getting into the credit card churning game, there are better cards to get for the sign up bonus (though Barclays does have some decent ones). But if you're looking to get into the tradeline sales game, Barclays is the way to go, hands down. I have made just under $10,000 over the past 4 years on just those cards alone. The rest of my cards barely total $3,000 and are much more painful for adds, removals, or both.

I was just looking through the Barclay offerings yesterday. My spouse and I both fell back under 5/24 and hit the Chase cards pretty hard for a bit. I am thinking long(er) term for selling tradelines. We have a couple Barclaycards in the system that sell routinely. I see Barclays has quite a few offerings. Wondering if they all will work for tradelines? Honestly I don't know that I can get any use from any of the sign up bonuses. Already have the Arrival and Aviator cards.

I've opened several of their cards with little regard to the bonuses. The Uber card initially offered $100 cash back, but then changed it to $100 Uber Cash (which I have no use for). As far as I know they should all work for selling tradelines. If you're opening it for that specific purpose I would stick to the ones with no annual fee.

I have the Arrival card which provided a pretty nice bonus but when I looked at the rest of their cards none really made sense to me. I don't plan on flying anywhere for a while, and if I did it would probably not be with any of the airlines they have cards for. I've got a 15k limit on the Arrival card. When you opened additional accounts did they provide you with a similar limit to the ones you already had? If I'm going to open a new CC a few hundred dollars in signup bonus now seems a better deal than being able to sell tradelines in a year or two - and maybe not getting any sales with a new or lower limit card. I added one newer card with the old company when they were accepting those about six months ago and nothing yet. I guess in a year or two after the recession there will probably be an uptick in people looking to fix their credit. So maybe now is the time to start seasoning some cards.

Even a $500 bonus now pales in comparison to thousands in potential tradeline sales with another Barclaycard. I have opened BofA and other cards over the last year or so for bonuses and future tradeline sales. Since we can't travel we have a backlog of miles and points that we keep piling on. I might just go ahead and open a couple more Barclaycards and sock drawer them for now.

[Michael in ABQ]

Hey Michael.  I think that cards added at the old company can take 6 months to start to get AUs but then they'll become pretty regular.  I've got a bunch of new/low limit ones with them from the first time they did it and one from 6 months ago.  The first round ones get 2 AUs every period (2 months) and the newest add got it's first AU this week.

That's good to hear. I was late in adding a new/low limit card but since I started the process they let me complete it in December. Hopefully I start seeing some activity on it soon.

Even a $500 bonus now pales in comparison to thousands in potential tradeline sales with another Barclaycard. I have opened BofA and other cards over the last year or so for bonuses and future tradeline sales. Since we can't travel we have a backlog of miles and points that we keep piling on. I might just go ahead and open a couple more Barclaycards and sock drawer them for now.

So I just requested a $7,000 increase in my credit line through the Barclay's website and an hour or two later got an email that it was approved. That card just hit the one year mark (and $89 annual fee) So when I get that one enrolled it will be paying quite a bit more. The old company tier is $10-15k and $15,001-20k then $20-30k so now that I'm at $22k it jumped from $75 to $175.

Maybe in a couple of days I'll sign up for another one. I've got an easy way to manufacture spending for an investment account so I can easily hit whatever sign-up bonus there might be then just let it season.

[frugalnacho]

Just had my bank of america account shut down for irregular AU activity.  My wife just got the letter at home and I'm at work, so I haven't read it yet.  Bummer, that was an old ass account with high limits.

W.T.F. BoA is already spamming me new card offers via postal mail. 

Also heard from PointsLawer and it's a no-go on a settlement with BoA.

[MasterStache]

I've got an easy way to manufacture spending for an investment account so I can easily hit whatever sign-up bonus there might be then just let it season.

I'm intrigued?

[Michael in ABQ]

I've got an easy way to manufacture spending for an investment account so I can easily hit whatever sign-up bonus there might be then just let it season.

I'm intrigued?

Link in my signature. More information here: https://forum.mrmoneymustache.com/reader-recommendations/kickfurther-earn-20-annualized-returns/
You can fund inventory purchases with a credit card for eCommerce businesses that offer annualized returns in the 15-25% range. Up until a couple of months ago the default rate was pretty low. The risk profile has certainly changed since then but there's still a lot of solid companies offering 3-9 month investments to fund their inventory purchases. You pay a 1.5% fee when you withdraw the money but if you get some credit card rewards that will essentially negate that - plus you would have earned some interest on the money you invested.

I've got about $10k spread across 20 deals or so. 5-10 have completed and paid out, a few are struggling, the rest are paying out on time or haven't started paying out yet but will start in the next few months.

[MasterStache]

I've got an easy way to manufacture spending for an investment account so I can easily hit whatever sign-up bonus there might be then just let it season.

I'm intrigued?

Link in my signature. More information here: https://forum.mrmoneymustache.com/reader-recommendations/kickfurther-earn-20-annualized-returns/
You can fund inventory purchases with a credit card for eCommerce businesses that offer annualized returns in the 15-25% range. Up until a couple of months ago the default rate was pretty low. The risk profile has certainly changed since then but there's still a lot of solid companies offering 3-9 month investments to fund their inventory purchases. You pay a 1.5% fee when you withdraw the money but if you get some credit card rewards that will essentially negate that - plus you would have earned some interest on the money you invested.

I've got about $10k spread across 20 deals or so. 5-10 have completed and paid out, a few are struggling, the rest are paying out on time or haven't started paying out yet but will start in the next few months.

Thanks, I may have to look into that.

[Catica]

I have one Barclay's card (no annual fee) and I'm thinking of applying for more, since you guys are praising their cards so much, but I'm afraid this will drag my credit card history down. How much does it matter?

[katsiki]

I have one Barclay's card (no annual fee) and I'm thinking of applying for more, since you guys are praising their cards so much, but I'm afraid this will drag my credit card history down. How much does it matter?

If your score is good now, I would say minimal.  It will reduce your average age of accounts a bit.  If you have a decent avg age now (older cards basically), then I really wouldn't worry about it.

If you post some more info, I am sure more specific advice can be given (if you like).

P.S. The NFL card used to do a decent bonus for minimal spend.  You could get that or another one and let it age for 2 years.

[MoneyTree]

do the extra credit pulls do much damage with a 800+ score? I'm considering regularly opening new lines to start them seasoning, so even if a few cards get shut down in the future, I'll always have a pipeline of new seasoned cards ready to go.

[secondcor521]

do the extra credit pulls do much damage with a 800+ score? I'm considering regularly opening new lines to start them seasoning, so even if a few cards get shut down in the future, I'll always have a pipeline of new seasoned cards ready to go.

It's not so much the credit pull itself, which is only a handful of points itself and goes away over time.  It's that the new line, assuming you're approved, lowers your average age of accounts, which is a second factor that they look at.

But if you're at 800+ with high income, really the limitations come in with overall credit extended to you by issuer, as well as the various issuer rules about how many applications within a given time frame and open cards you can have at a time.  These rules drift over time but are documented on lots of blogs out there.

[Michael in ABQ]

My credit score is right around 800 and I have 4 cards now with about $50k in available credit. HH Income is a bit over $100k now but will drop back to around $90k in several months. One of those cards is about 10 years old, another around 20, and the last two are only about a year old.

Is there a rule of thumb about how much available credit before you start getting rejected for new cards or credit limit increases? I.e. 100% of HH income, 150%? I have no other debt, no mortgage, paid off student loans and last car loan years ago.

I'm generally averse to debt but at some point in the next five years I'll be buying a house so a strong credit score will obviously help with that. I'm also planning to buy a business in the next few years so the bank and SBA will be looking at my personal credit as well. However, in the short term if I open up a few new cards and my score drops 30-40 points it doesn't matter.

[secondcor521]

My credit score is right around 800 and I have 4 cards now with about $50k in available credit. HH Income is a bit over $100k now but will drop back to around $90k in several months. One of those cards is about 10 years old, another around 20, and the last two are only about a year old.

Is there a rule of thumb about how much available credit before you start getting rejected for new cards or credit limit increases? I.e. 100% of HH income, 150%? I have no other debt, no mortgage, paid off student loans and last car loan years ago.

I'm generally averse to debt but at some point in the next five years I'll be buying a house so a strong credit score will obviously help with that. I'm also planning to buy a business in the next few years so the bank and SBA will be looking at my personal credit as well. However, in the short term if I open up a few new cards and my score drops 30-40 points it doesn't matter.

It's not really very well known.  I'm over 400% currently.  Very roughly speaking, the major issuers will all issue you somewhere around 1x HHI across all your cards with them, so if you hit them all up, you could probably easily get to 4x to 5x.

With an 800 credit score, you shouldn't have to worry about getting a mortgage with the best rate AFAIK.

@arebelspy, not sure if you want to suggest keeping this thread just about piggybacking, or if general credit questions like this are OK.  (If I were king I'd make a separate thread, but I'm not. :) )

[Michael in ABQ]

My credit score is right around 800 and I have 4 cards now with about $50k in available credit. HH Income is a bit over $100k now but will drop back to around $90k in several months. One of those cards is about 10 years old, another around 20, and the last two are only about a year old.

Is there a rule of thumb about how much available credit before you start getting rejected for new cards or credit limit increases? I.e. 100% of HH income, 150%? I have no other debt, no mortgage, paid off student loans and last car loan years ago.

I'm generally averse to debt but at some point in the next five years I'll be buying a house so a strong credit score will obviously help with that. I'm also planning to buy a business in the next few years so the bank and SBA will be looking at my personal credit as well. However, in the short term if I open up a few new cards and my score drops 30-40 points it doesn't matter.

It's not really very well known.  I'm over 400% currently.  Very roughly speaking, the major issuers will all issue you somewhere around 1x HHI across all your cards with them, so if you hit them all up, you could probably easily get to 4x to 5x.

With an 800 credit score, you shouldn't have to worry about getting a mortgage with the best rate AFAIK.

@arebelspy, not sure if you want to suggest keeping this thread just about piggybacking, or if general credit questions like this are OK.  (If I were king I'd make a separate thread, but I'm not. :) )

Interesting. In that case I guess there's no reason not to try and open up another few cards to start seasoning them for tradelines. After all, the banks are probably going to start reducing how much credit they're willing to extend. Either offering lower initial credit limits or reducing credit limits like they did back in 2008-2009. After all, if tens or hundreds of thousands of people started maxing out their credit lines that had previously seen less than 10% utilization, the banks could run out of capital.

[MasterStache]

P.S. The NFL card used to do a decent bonus for minimal spend.  You could get that or another one and let it age for 2 years.

That's the card I was looking at. I have 4 future TL cards in the sock drawer right now that I am letting age. They were nice big sign up bonuses (BofA, CapOne etc.). I am going to have to decide if I want to bite the bullet on some of these non bonus/smaller bonus Barclaycards. Decisions decisions. 

[arebelspy]

@arebelspy, not sure if you want to suggest keeping this thread just about piggybacking, or if general credit questions like this are OK.  (If I were king I'd make a separate thread, but I'm not. :) )

Short of draconian moderating, hard to keep people from drifting to a tangential topic from time to time (especially asking the question "what card do I season for TL sales" leading directly to "how will it impact my credit score").

Most the TL questions have been answered and discussed, so short of something shaking up the industry (e.g. the random FTC lawsuits, closure of major companies, etc.), there usually isn't a whole ton to discuss.

I figure the thread will drift back totally on topic soon. :)

(My anecdotal data: credit score is ~815, wife ~805, we have a lot of cards open, maybe 15-20ish, and regularly have 10ish inquiries, usually no less than 7, from the previous 2 years. With a long enough credit history and enough open cards and low utilization, our credit score remains high despite new cards being opened and lots of inquiries. I actually saw our scores go up quite a bit, from the 760 range to the 800 range in the first few years we started travel hacking and accumulating a lot more cards.)

[Padonak]

I'll go on a little tangent too. Has anyone looked into applying for EIDL (Economic Injury Disaster Loan) provided by the Small Business Administration based on their TL business income? Last year, I had a few thousand dollars of business income (1099) based on my TL sales. I also had a W2 job which was my main source of income. This year, my TL sales slowed down and pretty much stopped in March. As far as I know, sole props may qualify for $1000 EIDL grant per employee (including the owner) even if they are not registered as companies or have additional employees. I don't know all the details and obviously don't want to apply for something I'm not entitled to.

Link to SBA web site:
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance#section-header-4

[MasterStache]

I'll go on a little tangent too. Has anyone looked into applying for EIDL (Economic Injury Disaster Loan) provided by the Small Business Administration based on their TL business income? Last year, I had a few thousand dollars of business income (1099) based on my TL sales. I also had a W2 job which was my main source of income. This year, my TL sales slowed down and pretty much stopped in March. As far as I know, sole props may qualify for $1000 EIDL grant per employee (including the owner) even if they are not registered as companies or have additional employees. I don't know all the details and obviously don't want to apply for something I'm not entitled to.

Link to SBA web site:
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance#section-header-4

I've looked into it. I have an actual side business as well (carpentry work) that brings in some decent income. Obviously that isn't happening with the stay at home orders. But since we are perfectly fine financially I decided there are far more folks out there who actually need the money. I just wouldn't feel right.

[DadJokes]

Even a $500 bonus now pales in comparison to thousands in potential tradeline sales with another Barclaycard. I have opened BofA and other cards over the last year or so for bonuses and future tradeline sales. Since we can't travel we have a backlog of miles and points that we keep piling on. I might just go ahead and open a couple more Barclaycards and sock drawer them for now.

I was under the impression that it was getting more and more difficult to make money with tradelines. Is that not the case?

We only have one non-Chase card right now, and I'd hate to burn a 5/24 slot for something that is 1) going to take a couple years before we can even make money off of it, and 2) may not even be profitable at all by then.

Am I wrong on how things have been trending?

[erutio]

I've been averaging around 8.5k yearly.   My year over year sales have been pretty stable over the past 3 years. 

[DadJokes]

I've been averaging around 8.5k yearly.   My year over year sales have been pretty stable over the past 3 years.

But what are the age & limits of your cards? Are you making that much with cards that are a couple years old, or does the bulk come from cards 10+ years old?

I certainly plan to do some other cards once I get all I want out of Chase, but I have a difficult time justifying foregoing great bonuses that can only be earned when under 5/24.

[MasterStache]

I've been averaging around 8.5k yearly.   My year over year sales have been pretty stable over the past 3 years.

But what are the age & limits of your cards? Are you making that much with cards that are a couple years old, or does the bulk come from cards 10+ years old?

I certainly plan to do some other cards once I get all I want out of Chase, but I have a difficult time justifying foregoing great bonuses that can only be earned when under 5/24.

It's YMMV of course. This year has been great so far. Got 2 more adds today in fact. Last year wasn't bad. First couple years were much slower. But I also have more cards in the system now. As I said earlier my spouse and I both fell back under 5/24 and hit Chase cards pretty hard. First business then personal. Now that we are both back over 5/24 we have opened a couple other good bonus cards that will be used for future tradelines. If they don't pan out, then we still got good bonuses with them. That is the route we have taken FWIW.   

[erutio]

I've been averaging around 8.5k yearly.   My year over year sales have been pretty stable over the past 3 years.

But what are the age & limits of your cards? Are you making that much with cards that are a couple years old, or does the bulk come from cards 10+ years old?

I certainly plan to do some other cards once I get all I want out of Chase, but I have a difficult time justifying foregoing great bonuses that can only be earned when under 5/24.

I have 11 cards across the 2 companies (between my wife and I).  Ages range from 17 years to 2 years.  I applied for a bunch a new cards in 2016/17 when ARS started these threads.  Those new cards have seasoned and are in the rotation, and very productive.  New cards applied at regular intervals since then have been slowly added into the mix as they age.  My CL ranges from 12k to 32k on each card.

I have had 5 cards shut down but not before they netted thousands of dollars each.  3 of those cards would be over 22 years old now.  My credit score has gone up, even with regular new inquiries and a slow decrease of my average age of accounts over time.

[Michael in ABQ]

My first tradeline sale!

I added a Barclay's card with the old company a few days ago and just got a sale. It's a newer card so only $50. But I just got hit with the first $89 annual fee so this will take care of half that. Meanwhile the Capital One card I added six months ago when they were taking newer cards hasn't done anything yet. The removal date is three months from now in August so I wonder if that's changed from the 2-month cycle that was originally posted.

Edit: Second sale on the same card the next day. Annual fee taken care of.

[secondcor521]

My first tradeline sale!

I added a Barclay's card with the old company a few days ago and just got a sale. It's a newer card so only $50. But I just got hit with the first $89 annual fee so this will take care of half that. Meanwhile the Capital One card I added six months ago when they were taking newer cards hasn't done anything yet. The removal date is three months from now in August so I wonder if that's changed from the 2-month cycle that was originally posted.

I very rarely pay an annual fee, especially on a card that is already a year old.  And by rarely I actually mean never thus far, now that I think about it.  Almost always the benefits are not worth the annual fee in years 2-N.

Have you considered downgrading?  Most cards have downgrade-to-$0-annual-fee options, and you'll still keep the same credit line and limit and age on your credit report.  Sometimes the account number even stays the same.

Anyway, consider downgrading.  And if you don't downgrade and report your TL sales on Schedule C, don't forget to deduct the $89. :)

[Michael in ABQ]

My first tradeline sale!

I added a Barclay's card with the old company a few days ago and just got a sale. It's a newer card so only $50. But I just got hit with the first $89 annual fee so this will take care of half that. Meanwhile the Capital One card I added six months ago when they were taking newer cards hasn't done anything yet. The removal date is three months from now in August so I wonder if that's changed from the 2-month cycle that was originally posted.

I very rarely pay an annual fee, especially on a card that is already a year old.  And by rarely I actually mean never thus far, now that I think about it.  Almost always the benefits are not worth the annual fee in years 2-N.

Have you considered downgrading?  Most cards have downgrade-to-$0-annual-fee options, and you'll still keep the same credit line and limit and age on your credit report.  Sometimes the account number even stays the same.

Anyway, consider downgrading.  And if you don't downgrade and report your TL sales on Schedule C, don't forget to deduct the $89. :)

So I just called to try and downgrade (15 minutes on hold, not too bad) but the representative said there is no longer a free option available. I guess the Barclay Arrival has been discontinued. But she did inform me I could use 8,000 points to pay for the annual fee. Of course as luck would have it I just used 15,000 of my 17,000 points as a $75 cash back statement credit about three hours ago. And of course that is non-reversible. So I basically wasted about 10,000 points by not calling first. Well I just need to get a couple more sales this year to make up for it. By next year I should be getting $175 per spot too.

[Catica]

I have one Barclay's card (no annual fee) and I'm thinking of applying for more, since you guys are praising their cards so much, but I'm afraid this will drag my credit card history down. How much does it matter?

If your score is good now, I would say minimal.  It will reduce your average age of accounts a bit.  If you have a decent avg age now (older cards basically), then I really wouldn't worry about it.

If you post some more info, I am sure more specific advice can be given (if you like).

P.S. The NFL card used to do a decent bonus for minimal spend.  You could get that or another one and let it age for 2 years.

I just asked Barclays for credit line increase and that dropped my credit score (Transunion) by 2 points.  Is that a lot?  Currently credit karma reports my score as 785 (Transunion) and 800 (Equifax).
If I don't ever plan to take out a loan, does any of this matter? When I apply for a cc, do they look at my score when deciding how much creditline to give me?