Author Topic: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig  (Read 1378515 times)

harrydogyo

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4800 on: March 19, 2021, 11:58:31 AM »
On my last Barclays approval they asked me when I called recon if I wanted to shift credit around and I said I didn't want to... they gave me $5k anyway without affecting other cards.

If you're worried and you apply for a card and don't get auto approved call the recon number (easy to google what it is for each issuer) after a day or so and explain why you want the card.  At that point a credit analyst may ask if you want to move credit which you can decline to do.  If that looks like your only option you can use that chance to withdraw the app as well.  Most issuers will give you a really small credit line if they want you but you're close to max in their underwriting guidelines. 

You might be able to find some data points on the provider you're applying with some google or reddit searching, especially if it's a well known issuer... whether they're inquiry sensitive, typical max credit lines etc.  Good luck!

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4801 on: March 19, 2021, 12:06:02 PM »
I just had that happen to me with a Chase card (that I don't sell TLs on)--applied for a new one to get the SW companion pass for post-vaccine times and got pending, then a few days later (with no action on my part) an approved, but they shifted some credit around.

If I were selling lines on the card they moved from, I'd just wait until after a statement close/no one on it (tough if the bonus you're applying for is time sensitive, may need to shut down the card for a month), hit the min spend bonus on the new card and pay it off immediately, then shift the credit back.

Good thoughts, thank you.

I think I am getting lazy.  Because of the good markets and this side gig that some ARS guy got me into a few years back I'm less motivated to chase SUBs anyway.  And the $/effort ratio is probably better for me with piggybacking than SUBs.  Although I also need to think of the long term value of piggybacking cards - missing one $250 AU to get another card which might yield ten $250 AUs two to four years from now should be a good trade to make.  Ah, but then lazy thoughts return.

I may just do SUBs from issuers with whom I have zero piggybacking cards currently and that are good for seasoning.  This probably means the backwaters of issuers.  And I may also just get cards with no SUBs to season (the horrors!)  Oh well - I've been playing CC tricks for fourteen years (this includes games before piggybacking), so one can't be surprised at my present state of affairs.
« Last Edit: March 19, 2021, 12:08:04 PM by secondcor521 »

morris08

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4802 on: March 21, 2021, 07:32:12 AM »
re: DISCOVER
I know others have had this happen where you attempt to add an AU and get this message online:

"You've reached the maximum number of requests to add Authorized Users at this time.  You'll be able to add your next Authorized User on 2/23/2021 if you have fewer than 5 Authorized Users at that time."

I try to add an AU after the date mentioned, and it then it says the same thing and shows me a new date a few months into the future.
This has happened multiple times.  UGH!

I am about to call Discover and see if they can resolve.

Has anyone else called Discover and worked this out?

BikeFanatic

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4803 on: March 21, 2021, 09:18:02 AM »
I have 4 user on Discover now and I do not get the message ever. I always call it in though, as required by the Tradeline company
that I utilize. Dont really know if it is related to the online add.


Secondor what are SUB's?
« Last Edit: March 21, 2021, 09:21:19 AM by BikeFanatic »

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4804 on: March 21, 2021, 01:36:32 PM »
Secondor what are SUB's?

Sign up bonuses, like getting $300 after spending $3,000 on the card in the first three months.

ZagNation

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4805 on: March 22, 2021, 09:18:28 AM »
re: DISCOVER
I know others have had this happen where you attempt to add an AU and get this message online:

"You've reached the maximum number of requests to add Authorized Users at this time.  You'll be able to add your next Authorized User on 2/23/2021 if you have fewer than 5 Authorized Users at that time."

I try to add an AU after the date mentioned, and it then it says the same thing and shows me a new date a few months into the future.
This has happened multiple times.  UGH!

I am about to call Discover and see if they can resolve.

Has anyone else called Discover and worked this out?

I added 7 or 8 AU in 2020 and have missed out on 2 additional AUs this year. Old company has placed my Discover card on hold for this specific ongoing issue. Discover continues to push the date out for me even though I do not have any active AU so I suspect I (we) have arrived at the end of the AU hustle road with Discover and should be thankful our card(s) have not been shut down completely. If you happen to contact Discover would you let us know the result of your conversation?

Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4806 on: March 22, 2021, 09:55:41 AM »
While you let your Discover cool its jets, you can still milk the card with low balance forgiveness.  Go into your Amazon account and do a gift card reload for $1.99 on that discover card, once it's at a zero balance.  When the closing date comes, Discover will credit back that $1.99 but you continue to ecru reward points.  You could certainly put that $1.99 on the card in other ways, but it's pretty hard to get the exact number filling gas.  Amazon works especially well because you can reload as little as 50 cents and you get the full value to use for your regular purchases.  I do this with several cards when they're not getting any AUs assigned.

MasterStache

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4807 on: March 23, 2021, 07:10:51 AM »
While you let your Discover cool its jets, you can still milk the card with low balance forgiveness.  Go into your Amazon account and do a gift card reload for $1.99 on that discover card, once it's at a zero balance.  When the closing date comes, Discover will credit back that $1.99 but you continue to ecru reward points.  You could certainly put that $1.99 on the card in other ways, but it's pretty hard to get the exact number filling gas.  Amazon works especially well because you can reload as little as 50 cents and you get the full value to use for your regular purchases.  I do this with several cards when they're not getting any AUs assigned.
+1
I actually put our $2.17 charge (taxes included) for Hulu on my Discover card. Set up automatic payment for 0.18 every month. Pretty cheap Hulu subscription.

bangbang

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4808 on: March 24, 2021, 12:45:54 PM »
I just noticed that tradelines are selling on a famous internet auction site for some pretty good prices. What does the community think about this practice? Has anyone sold tradelines on famous internet auction sites? Is there a reason not to?
« Last Edit: March 24, 2021, 12:49:30 PM by bangbang »

solon

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4809 on: March 24, 2021, 01:25:58 PM »
That's... amazing.

Why don't I market my tradelines myself? Do we even need the tradeline companies anymore?

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4810 on: March 24, 2021, 01:29:23 PM »
Is there a reason not to?

Vetting.  Privacy.  Billing.  Service.  Coordination of sales.

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4811 on: March 24, 2021, 01:31:16 PM »


Do we even need the tradeline companies anymore?

Never did.

But I like the liability shield, the AU vetting, and that that they have a constant pipeline of AUs instead of me continually having to market.

Basically boils down to ease/convenience and reduced risk. But DIY is more profitable, as is the case with almost everything in life.
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solon

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4812 on: March 24, 2021, 01:32:12 PM »
Is there a reason not to?

Vetting.  Privacy.  Billing.  Service.  Coordination of sales.

None of that is difficult. The hardest part is the marketing, and if ebay can do that for us...

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4813 on: March 24, 2021, 01:46:26 PM »
Is there a reason not to?

Vetting.  Privacy.  Billing.  Service.  Coordination of sales.

None of that is difficult. The hardest part is the marketing, and if ebay can do that for us...

It's not difficult, but it is time consuming and a hassle.  I've done private sales for a few AUs and sales through both Old Company and New Company.  As ARS says, private sales are more profitable but I can confirm - having done things both ways - that it is more hassle and time and work.

Personally I'm lazy so I just use one of the companies.  For someone with more energy or ambition, private sales or eBay sales may make more sense.

I also think you might be underestimating the value of vetting and the stress of having to do that yourself and the infrastructure to do it well.  But that's just my opinion.

EliteZags

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4814 on: March 25, 2021, 02:09:07 AM »
Is there a reason not to?

Vetting.  Privacy.  Billing.  Service.  Coordination of sales.

None of that is difficult. The hardest part is the marketing, and if ebay can do that for us...

It's not difficult, but it is time consuming and a hassle.  I've done private sales for a few AUs and sales through both Old Company and New Company.  As ARS says, private sales are more profitable but I can confirm - having done things both ways - that it is more hassle and time and work.

Personally I'm lazy so I just use one of the companies.  For someone with more energy or ambition, private sales or eBay sales may make more sense.

I also think you might be underestimating the value of vetting and the stress of having to do that yourself and the infrastructure to do it well.  But that's just my opinion.

whats the typical payout increase from selling privately, 2x? 4x? 

Michael in ABQ

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4815 on: March 25, 2021, 06:59:20 AM »
The old company pays out around $125-175 for a tradeline that they retail for $500-750.

Frankly, I assume anyone trying to do a private tradeline sale and willing to pay the same amount is probably someone that is likely to get your card flagged and shut down (i.e. claiming they're a U.S. citizen when they're not or using a fake address, etc.). I'll stick with letting an intermediary deal with all of that and just watch the money roll into my account after doing my five minutes of work every few months.

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4816 on: March 25, 2021, 10:22:52 AM »
Is there a reason not to?

Vetting.  Privacy.  Billing.  Service.  Coordination of sales.

None of that is difficult. The hardest part is the marketing, and if ebay can do that for us...

It's not difficult, but it is time consuming and a hassle.  I've done private sales for a few AUs and sales through both Old Company and New Company.  As ARS says, private sales are more profitable but I can confirm - having done things both ways - that it is more hassle and time and work.

Personally I'm lazy so I just use one of the companies.  For someone with more energy or ambition, private sales or eBay sales may make more sense.

I also think you might be underestimating the value of vetting and the stress of having to do that yourself and the infrastructure to do it well.  But that's just my opinion.

whats the typical payout increase from selling privately, 2x? 4x?

Well, it's obviously up to each individual to decide how much they want to ask to be paid.  I've only done a handful, and I think I doubled what the TL companies paid me and then rounded up a bit, so maybe 225% to 250%.  For me, the hassle is the same regardless of the commission, so I tended to have a higher multiple on lower commission cards.  So if the TL company would have paid me $75, I'd offer it to an individual at $200, but if the TL company would have paid me $200, I'd offer it to an individual at $400.

Regarding MinABQ's comment, I disagree with the assumption but I do agree that the risk is definitely higher doing it this way.  I have only done private sales to people I have at least some connection with; I will not just do business with random people.  Anyone considering this should certainly do whatever vetting they think is adequate.  And there is a definite risk that the vetting that one thinks is sufficient may not be.  But I think there is room for private sales where the seller gets more and the buyer pays less.

Another thing to consider - at least for me - is that I typically sell slots on cards privately that are already on offer at the TL company, which means I need to coordinate between the two channels.  This loses some efficiency because you have to block and unblock a slot at the TL company and is obviously a bit more work because of that.

Obviously all of this is a judgment call, and anyone contemplating this should research it, understand what they're doing, and evaluate all of the risks and effort involved.  And obviously I and ARS and anyone else on this board are not liable for whatever you choose to do.

ducky19

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4817 on: March 25, 2021, 12:04:55 PM »
I actually just had my first private sale to someone I didn't know personally. She was a friend of my niece who remembered me talking about it at Christmas one year. She put us in touch and we came to an agreement of $100 per $10k in credit. Obviously I know I could have charged a lot more, but I was happy to help out and I was able to use two cards that were not currently being utilized.

On another note, I recently hit the lifetime limit on one of my Barclay cards, so before shutting it down I moved as much available credit to another card that I was aging. You guys, I just made $1000 on 4 adds in 15 minutes!!! That blows the $1000/hr in the thread title out of the water, and is by far the most I've made in that amount of time. I realize I can't make that much every 15 minutes, but it sure is nice when you have clusters like that! That bumps me up to $4790 YTD, hoping to surpass last year's $11k.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4818 on: March 25, 2021, 07:36:07 PM »
Anyone else have good 'leads' on getting into this? I got in touch with both companies A and B and both are currently at limit/capacity and aren't accepting any new sellers into their pools...

arebelspy

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4819 on: March 25, 2021, 09:02:31 PM »
You guys, I just made $1000 on 4 adds in 15 minutes!!! That blows the $1000/hr in the thread title out of the water, and is by far the most I've made in that amount of time.

Hahah, the thread title still cracks me up years later. Make $1000/hour working from home in your pajamas sounds like such a scam!

Yet it's somehow true--approaching 5 years since I first posted about it, and I know Mustachians have made hundreds of thousands (probably approaching 1MM+) selling tradelines. That's a ridiculous side-gig.

Quote
I realize I can't make that much every 15 minutes, but it sure is nice when you have clusters like that! That bumps me up to $4790 YTD, hoping to surpass last year's $11k.

Nice! When people ask how much you can make, the answer is a pretty standard "well depends on how many cards you have, their age, limits, etc. but in general most people make a few hundred to a few thousand a year with some making low five figures." You're doing pretty awesome being in the latter category. ;)

Anyone else have good 'leads' on getting into this? I got in touch with both companies A and B and both are currently at limit/capacity and aren't accepting any new sellers into their pools...

Yeah, that's a bummer.

I'd personally let the cards age more while waiting for them to open enrollment. There are other companies out there, I (unfortunately) just haven't found any others I can personally recommend. And so I'd rather wait and then sell with a good company that vets AUs the right way and have the card longevity than risk it with a TL company that might get it shut down quicker. Longer term maximum value, basically (and less risk of participating in fraud).

However if the money is needed immediately and you want to take the risk, Google will certainly find you other companies (one is particularly popular as they're good at SEO and popular with with personal finance bloggers due to the referral fees they offer, I just can't recommend them).
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Michael in ABQ

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4820 on: March 28, 2021, 12:09:09 AM »
Finally sold a TL with the old company on my card that hit the 2-year mark a six months ago. $125 instead of $25. My Barclay's card that will pay out $175 hits the 2-year mark next week. Might make some decent money now. In another few months maybe they'll open up to newer cards too. I've got a couple more seasoning with decent limits.

stopper24

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Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4821 on: March 29, 2021, 02:53:55 AM »
It would be interesting to hear. What are everyone's most profitable cards?

Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4822 on: March 31, 2021, 08:44:14 AM »
I had an interesting non-post.  BBVA card that I know for sure I added because I've got the card right here.  Sent pictures of that and my account balance and credit karma showing that an amount was on the card.  Call the CC co this morning and they don't have the person in their system as an AU.  So ok.  How'd I get a card with the AUs name on it then?  No matter, I know my mileage varies all over the map, so no worries there.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4823 on: March 31, 2021, 08:53:45 AM »
Does anyone know if anything changed recently for AU's with Barclays?  I received a card for an AU recently even though I always decline card and noticed that it had a different number than the primary.  I might be mistaken as I have not requested a card in a loooong time but I thought BC issued AU's under the same #.  Thanks for any info.

harrydogyo

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4824 on: March 31, 2021, 08:56:27 AM »
It would be interesting to hear. What are everyone's most profitable cards?

I have a high limit Amex that is my most profitable by far...easy to add and up to 99 per year.   Next would be a high limit 20 year old+ Citi (best payout) and a 16k Barclays (always seems to be filled).  And I have some cards that are duds.  I think the TL companies or their buyers know the ones that post or that make a difference in their client's score improvement.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4825 on: March 31, 2021, 01:22:05 PM »
Question about barclaycard. I just logged on and saw a new link to "Activate" next to the AUs I already added. When I clicked on the link, it said "To activate your account, please verify your identity. Enter the primary cardmember's information below." and  asked for the last 4 digits of my social and the 3 digit security code on the back of my primary card. I did NOT request AU cards to be issued when I added these AUs.

Question: what does this activation mean? Do I need to enter my details and "activate" in order for these tradelines to be posted?

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4826 on: March 31, 2021, 03:21:05 PM »
Is the activate under "Activated Cards" on the left? Or under "Authorized Users" on the right?

I just logged on to Barclay's.

On the left, under a silhouette of a card, are three columns: "name on card" "last 4 digits on account" and "activation date". The AU has a "Activate now" under the last column.  I'm not going to click it because I don't want to activate his card.

On the right, under a silhouette of a person with a "+" sign, are rows: "name" "Date authorized" "has a card" and "address."  There's no alert for me to activate and since it already has a "date authorized", I assume he's officially added.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4827 on: March 31, 2021, 10:24:02 PM »
Hey guys quick question regarding transferring of credit limit. One company I'm currently talking to has suggested combining 2-3 of my Chase cards to increase my 'power' - in doing so, it seems like you're also increasing your risk... if the card gets shut down that credit limit will have gotten wiped out no?

What strategy(ies) do you guys employ when doing this? And what would you suggest for someone who's just starting out? I don't want to get too greedy starting out.

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4828 on: March 31, 2021, 10:41:44 PM »
Hey guys quick question regarding transferring of credit limit. One company I'm currently talking to has suggested combining 2-3 of my Chase cards to increase my 'power' - in doing so, it seems like you're also increasing your risk... if the card gets shut down that credit limit will have gotten wiped out no?

What strategy(ies) do you guys employ when doing this? And what would you suggest for someone who's just starting out? I don't want to get too greedy starting out.

Correct.  And IIRC Chase might also close your checking and savings account and any other accounts you have with them too.  At least that was true recently.

Correct.  Don't get greedy.  Except in the case of a few private sales, I have only worked with the companies ARS has recommended, and I follow all of their recommendations.  Even so I had a couple of cards shut down last year.  So do what they say and understand even so that there is always a risk of getting shut down.

What I haven't done, but you might do with your Chase cards, is look at credit line divided by commission.  If you get 3x the commission for 2x the credit line, then maybe that's worth it.  But if it's 1.5x the commission for 2x the credit line, maybe not.

Also keep in mind, once you get a system set up, the overhead of doing one AU is pretty much the same regardless of whether the card is young or old and has a low or high limit.  That should factor into your strategy.

Some people here are applying for new cards with the relevant issuers in order to start seasoning CLs for use in a couple of years.  I think that's a smart idea if it works with the rest of your situation.

...

To say the same thing a slightly different way a second time for emphasis.  IMHO, if you go with a random TL company out there, you will likely make more money - maybe much more - than going with one of the two recommended by ARS.  But it will - again IMHO - probably result in issues and shutdowns after a much shorter period of time and thus a lower overall income total - with more stress and hassle to boot.

I stipulate that there may be other good companies out there.  I only need one or two, and the ones ARS have recommended have worked out well for me for almost five years.  So the risk/reward/effort ratio just isn't there for me.

jeromedawg

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4829 on: March 31, 2021, 11:20:51 PM »
Hey guys quick question regarding transferring of credit limit. One company I'm currently talking to has suggested combining 2-3 of my Chase cards to increase my 'power' - in doing so, it seems like you're also increasing your risk... if the card gets shut down that credit limit will have gotten wiped out no?

What strategy(ies) do you guys employ when doing this? And what would you suggest for someone who's just starting out? I don't want to get too greedy starting out.

Correct.  And IIRC Chase might also close your checking and savings account and any other accounts you have with them too.  At least that was true recently.

Correct.  Don't get greedy.  Except in the case of a few private sales, I have only worked with the companies ARS has recommended, and I follow all of their recommendations.  Even so I had a couple of cards shut down last year.  So do what they say and understand even so that there is always a risk of getting shut down.

What I haven't done, but you might do with your Chase cards, is look at credit line divided by commission.  If you get 3x the commission for 2x the credit line, then maybe that's worth it.  But if it's 1.5x the commission for 2x the credit line, maybe not.

Also keep in mind, once you get a system set up, the overhead of doing one AU is pretty much the same regardless of whether the card is young or old and has a low or high limit.  That should factor into your strategy.

Some people here are applying for new cards with the relevant issuers in order to start seasoning CLs for use in a couple of years.  I think that's a smart idea if it works with the rest of your situation.

...

To say the same thing a slightly different way a second time for emphasis.  IMHO, if you go with a random TL company out there, you will likely make more money - maybe much more - than going with one of the two recommended by ARS.  But it will - again IMHO - probably result in issues and shutdowns after a much shorter period of time and thus a lower overall income total - with more stress and hassle to boot.

I stipulate that there may be other good companies out there.  I only need one or two, and the ones ARS have recommended have worked out well for me for almost five years.  So the risk/reward/effort ratio just isn't there for me.

Ah ok thanks. When you say "3x the commission for 2x the credit line" can you clarify? Or give a real world example/numbers for that? I'm not quite understanding how that translates over...

As far as the companies ARS recommended, I reached out to them in the past two months and neither are accepting new partners unfortunately. That said, I'm currently researching a couple but not quite sure how else to "vet" them according to the "ARS Standard" so would be open to suggestions there. If I do end up going with any of these and the two original companies he recommended open back up to accepting partners, is it difficult to 'switch' over to those companies if at that point in time I had been selling tradelines via other brokers? Or is it all pretty seamless? I would think the latter but I don't know enough about all this.

I just opened a Barclay's card for myself and will probably do the same for my wife and allow them to season after getting the initial spend reward. I'm kicking myself for allowing several long-standing CCs go stale and close (at the discretion of the card issuing banks) after not using, not caring because I thought I would have absolutely no use as far as keeping them open. smh :(

FrugalZony

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4830 on: April 01, 2021, 12:02:42 AM »
Does anyone know if anything changed recently for AU's with Barclays?  I received a card for an AU recently even though I always decline card and noticed that it had a different number than the primary.  I might be mistaken as I have not requested a card in a loooong time but I thought BC issued AU's under the same #.  Thanks for any info.
Just logged on to ask this!
I removed an AU from a Barclays Card a few days ago that I had not requested a card for (never do) and received a card for them in the mail AFTER removing them.
This is totally odd!
I had another add a couple of days ago and am watching my mail like a hawk right now.

Hoping this is just a short term glitch in the system.

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4831 on: April 01, 2021, 08:20:02 AM »
<<snip>>

Ah ok thanks. When you say "3x the commission for 2x the credit line" can you clarify? Or give a real world example/numbers for that? I'm not quite understanding how that translates over...

As far as the companies ARS recommended, I reached out to them in the past two months and neither are accepting new partners unfortunately. That said, I'm currently researching a couple but not quite sure how else to "vet" them according to the "ARS Standard" so would be open to suggestions there. If I do end up going with any of these and the two original companies he recommended open back up to accepting partners, is it difficult to 'switch' over to those companies if at that point in time I had been selling tradelines via other brokers? Or is it all pretty seamless? I would think the latter but I don't know enough about all this.

I just opened a Barclay's card for myself and will probably do the same for my wife and allow them to season after getting the initial spend reward. I'm kicking myself for allowing several long-standing CCs go stale and close (at the discretion of the card issuing banks) after not using, not caring because I thought I would have absolutely no use as far as keeping them open. smh :(

The TL companies pay more per slot if the card is older and/or has a higher limit.  So for example, a 5 year old Discover card with a $12K limit pays $75 per slot, but the same card with a $24K limit would pay $175 per slot.  Other than getting the higher limit in the first place, which could be easy or hard depending, the work to add/remove a person is the same regardless of the CL.  Any company you might work with should be able to give you their commission schedule and you can see for yourself how this would work with your own cards.

The only way to vet to the ARS standard is to be ARS and do what he does.  I just piggybacked on his work (thanks, @ARS! :) ).  I suppose you could do something similar by researching how the companies work and what the risks are and how they vet their AUs.  I got in early so I didn't face the issue you are.  From my comfy spot I would say to just wait and season cards and keep checking back with the recommended companies if I were in your shoes.  But I don't know honestly if I would wait or if I would go with another company.  Good luck whatever you decide.

Switching companies is just a matter of keeping track of the sales with each company, coordinating slots and cards when you're switching over, communicating with each company through the transition, and making sure to properly report the income from both on your taxes.  I've done something similar twice.  It's not impossible and not hard, but it's extra work.  You also might lose a tad bit of being available to the market on your cards as you're switching over.  Finally, it would depend on how many cards you have and how many slots you want to sell on each card and how active your sales end up being.

Regret is an awful thing.  If you were my kid I'd advise you to work on forgiving yourself, counting your blessings, and moving on with life.  I've been playing a number of different versions of financial gaming for 14 years now, and although the specific version of the games change over time, I imagine they'll be around forever.

Nutty

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4832 on: April 01, 2021, 10:14:46 AM »
I just opened a Barclay's card for myself and will probably do the same for my wife and allow them to season after getting the initial spend reward. I'm kicking myself for allowing several long-standing CCs go stale and close (at the discretion of the card issuing banks) after not using, not caring because I thought I would have absolutely no use as far as keeping them open. smh :(
You aren't alone.  I closed several well seasoned cards a couple of years ago to reduce my risk.  Now, I'm opening more cards to season for this.  Just starting and this site has changed my opinions on a lot of financial stuff and opened more doors.  Make decisions with the information that you have available knowing that you will learn and grow in the process.  No regrets.

I'm teaching my kids the things that I'm learning now.  Quite different than from what Dad taught me.

harrydogyo

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4833 on: April 01, 2021, 10:23:18 AM »
I mean the seemingly largest player in the tradeline space didn't make the cut for ARS, and other than some late payments from one of the recommended companies, his due diligence has served many here well.   Every spot you don't sell or year you accumulate on each card will help you in the long run for sure.  It'll be a sad day when I lose my best Barclays and it's coming up soon!

Who you work with to sell TLs is a matter of risk reward.  There are absolutely a lot of players that you want NOTHING to do with that don't have the checks to protect you. Usually this involves CPNs and fraudulent shady dealings.  But even those on the seemingly up and up you need to see how they protect private data, and do their due diligence on who they sell to and their clients. 

From there, the other issue is how protective they are of your cards.  I mean a good TL company never wants you to lose a card but they're making money and many of them will be inclined to push the envelope to get a sale.

They companies I work with have been forthcoming with when I should not do an add ("I wouldn't risk it") and when it won't be an issue (You should have no problem).  This is a function of their volume and the size and tenure of their team.  And who they work with for clients.  Due diligence in the age of Google is not that hard if you put the time in.

TL companies have also gone under in the past.  It's a profitable business for them but they too could be cancelled tomorrow.

The most important thing in all of this is to not sell spots on a card that you can't afford to lose. I've made enough from every card that I've made available that it would have been well worth the effort even if it was cancelled tomorrow. 

MoneyTree

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4834 on: April 01, 2021, 10:32:14 AM »
Hey guys quick question regarding transferring of credit limit. One company I'm currently talking to has suggested combining 2-3 of my Chase cards to increase my 'power' - in doing so, it seems like you're also increasing your risk... if the card gets shut down that credit limit will have gotten wiped out no?

What strategy(ies) do you guys employ when doing this? And what would you suggest for someone who's just starting out? I don't want to get too greedy starting out.

I'd suggest playing the long game. You can regularly request credit limit increases on each card, while simultaneously letting them age. In a few years time you will have multiple pretty good cards to sell.

The caveat to this is that you mentioned wanting to do this with Chase cards. Chase has been known to use the "nuclear option" when shutting down cards, meaning that they potentially will shut down ALL your chase accounts if they suspect weird activity on one card. So that is a risk you will have to take into mind when deciding what to do.

BC_Goldman

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4835 on: April 01, 2021, 11:40:21 AM »
I'm happy for the people who are actively getting tradeline sales.

I've had one and that was 2.5 years ago for a whole $100.

I did just request and receive a credit increase on the card so maybe that will help. I'm kicking myself because I had a Barclay card that was closed for non-use that would have been seasoned by now.

Nutty

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4836 on: April 01, 2021, 12:01:44 PM »
I had an interesting non-post.  BBVA card that I know for sure I added because I've got the card right here.  Sent pictures of that and my account balance and credit karma showing that an amount was on the card.  Call the CC co this morning and they don't have the person in their system as an AU.  So ok.  How'd I get a card with the AUs name on it then?  No matter, I know my mileage varies all over the map, so no worries there.
I'm new and had this happen also.  A call to the company and the card revealed that the AU had removed himself as an AU in violation of the company's agreement.  Got paid for the AU slot, but he got fired from the company.  I had the AU's card and an email saying he was there.

I hope this gets easier.  3 AUs and 2 problems.  Old company is answering a lot of questions for me.

EliteZags

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4837 on: April 01, 2021, 02:51:06 PM »
anyone have much experience with selling Elan cards, specifically Valley?

wondering how listing multiple Elan cards at once goes if they're from the same provider/bank
I opened one earlier this year through Valley and got $20K limit initially, considering applying for another one (preferably with Valley again to simplify billing) to get 2 of them aging for future sales next year

harrydogyo

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4838 on: April 01, 2021, 02:56:22 PM »
anyone have much experience with selling Elan cards, specifically Valley?

wondering how listing multiple Elan cards at once goes if they're from the same provider/bank
I opened one earlier this year through Valley and got $20K limit initially, considering applying for another one (preferably with Valley again to simplify billing) to get 2 of them aging for future sales next year

I have two Elan cards with two different providers... different logins. No idea if it helped me get a higher credit line or not as the last one I applied for was a higher CL and with a CU where I have a decent relationship.  All Elan cards are the same for the site and process so it's really just keeping the listings distinct based on CL and the age and making sure you add the AU to the right card when you sell both. 

Not sure if they allow you to move CL around but with some providers that can help as you season one card to move CL to the older card.   Other banks certainly allow that.

Padonak

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4839 on: April 01, 2021, 03:02:30 PM »
Is the activate under "Activated Cards" on the left? Or under "Authorized Users" on the right?

I just logged on to Barclay's.

On the left, under a silhouette of a card, are three columns: "name on card" "last 4 digits on account" and "activation date". The AU has a "Activate now" under the last column.  I'm not going to click it because I don't want to activate his card.

On the right, under a silhouette of a person with a "+" sign, are rows: "name" "Date authorized" "has a card" and "address."  There's no alert for me to activate and since it already has a "date authorized", I assume he's officially added.

When I log on and click on Services, then Authorized Users, on the left there is a list of current auth users with 3 columns: name on card, last 4 digits, and activation date. The "Activation date" column for the main card (mine) is populated. For a couple of current AUs, the field is empty and for the rest there is a link that says "Activate Now". On the right under the person with a plus sign, I have the same thing you have.

So it looks like I don't need to click on those "activate" links. Can someone else confirm?


Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4840 on: April 02, 2021, 09:54:54 AM »
I don't activate any cards anymore.  The last ones I did activate and use were BoA and they fired me.  Barclays posts fine without activation.

BikeFanatic

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4841 on: April 05, 2021, 03:06:27 PM »
I do not activate the cards half the time anyways, no difference in posting, I think I only had a few not post out of a hundred or so

merula

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4842 on: April 06, 2021, 08:11:06 AM »
Additional anecdata: I have never once activated a card, and have never once had a card not post.

frugalnacho

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4843 on: April 06, 2021, 11:49:04 AM »
I never activate AU cards.  I've had a few not post, but I doubt it was because of this reason as the vast majority post fine.

chuckster

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4844 on: April 06, 2021, 12:16:48 PM »
CITI is being weird for me about adding AUs... I call in, talk to the agent, and get the person added. Then they put me on "a brief hold" while they get a supervisor to verify my account by sending me a pin to my cell phone. All normal so far.

Then, the supervisor makes me go through the entire AU add process again. Name, social, DOB, agree to the disclosures, etc. Entirely repeat the process. I explain the last agent did this, but they keep asking me to verify the details. Ok...

Then, they get an error in the system that the AU is already on my account, added 10 minutes ago. That tends to confuse them but eventually they push it through.


Did 2 adds today and it happened on both calls.

harrydogyo

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4845 on: April 06, 2021, 12:22:54 PM »
Have had this a few times... not the sharpest customer service reps.

Also a few times, not recently, there's an email that it didn't go through when it actually did.   Not sure what's broken in their system but mine have still posted and the TL company says not to worry.

CITI is being weird for me about adding AUs... I call in, talk to the agent, and get the person added. Then they put me on "a brief hold" while they get a supervisor to verify my account by sending me a pin to my cell phone. All normal so far.

Then, the supervisor makes me go through the entire AU add process again. Name, social, DOB, agree to the disclosures, etc. Entirely repeat the process. I explain the last agent did this, but they keep asking me to verify the details. Ok...

Then, they get an error in the system that the AU is already on my account, added 10 minutes ago. That tends to confuse them but eventually they push it through.


Did 2 adds today and it happened on both calls.

MoneyTree

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4846 on: April 06, 2021, 03:38:42 PM »
Donít get me started on Citi.

Called in to add 2 AUs last week. Painstakingly spelled out everything and had the rep repeat everything back to me to confirm, and then when I login later, both AUs had major misspellings, and none of the changes I make online will stick. They just revert back to the incorrect versions after I save.

Trying to add online first, then calling in the ssn doesnít work either b/c the reps usually donít know what to do if the AUs are already in the system.

Gogore

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4847 on: April 07, 2021, 09:41:26 AM »
While you let your Discover cool its jets, you can still milk the card with low balance forgiveness.  Go into your Amazon account and do a gift card reload for $1.99 on that discover card, once it's at a zero balance.  When the closing date comes, Discover will credit back that $1.99 but you continue to ecru reward points.  You could certainly put that $1.99 on the card in other ways, but it's pretty hard to get the exact number filling gas.  Amazon works especially well because you can reload as little as 50 cents and you get the full value to use for your regular purchases.  I do this with several cards when they're not getting any AUs assigned.

I didn't know low balance forgiveness was a thing.   I have 20+ credit cards and it's always a hassle keeping them going even with auto pay.  My wallet just isn't big enough and I don't shop for myself very much especially in person.     Do you know of any other card issuers that forgive low balances and what the thresholds are?

secondcor521

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4848 on: April 07, 2021, 09:57:11 AM »
While you let your Discover cool its jets, you can still milk the card with low balance forgiveness.  Go into your Amazon account and do a gift card reload for $1.99 on that discover card, once it's at a zero balance.  When the closing date comes, Discover will credit back that $1.99 but you continue to ecru reward points.  You could certainly put that $1.99 on the card in other ways, but it's pretty hard to get the exact number filling gas.  Amazon works especially well because you can reload as little as 50 cents and you get the full value to use for your regular purchases.  I do this with several cards when they're not getting any AUs assigned.

I didn't know low balance forgiveness was a thing.   I have 20+ credit cards and it's always a hassle keeping them going even with auto pay.  My wallet just isn't big enough and I don't shop for myself very much especially in person.     Do you know of any other card issuers that forgive low balances and what the thresholds are?

https://lmgtfy.app/?q=any+other+card+issuers+that+forgive+low+balances+and+what+the+thresholds+are

Car Jack

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Re: Selling Tradelines / Piggybacking Part II: $1000+/hr, 20-40k/yr. Side Gig
« Reply #4849 on: April 07, 2021, 10:09:37 AM »
While you let your Discover cool its jets, you can still milk the card with low balance forgiveness.  Go into your Amazon account and do a gift card reload for $1.99 on that discover card, once it's at a zero balance.  When the closing date comes, Discover will credit back that $1.99 but you continue to ecru reward points.  You could certainly put that $1.99 on the card in other ways, but it's pretty hard to get the exact number filling gas.  Amazon works especially well because you can reload as little as 50 cents and you get the full value to use for your regular purchases.  I do this with several cards when they're not getting any AUs assigned.

I didn't know low balance forgiveness was a thing.   I have 20+ credit cards and it's always a hassle keeping them going even with auto pay.  My wallet just isn't big enough and I don't shop for myself very much especially in person.     Do you know of any other card issuers that forgive low balances and what the thresholds are?

discover, barclay, usbank, wells, etc.  I put either 99 cents or $1.99 (whichever is appropriate for the card) on my amazon online gift card.  I keep a spread sheet of both tradeline stuff and low balance stuff.  When I don't have a tradeline sale on a card, I let it go to zero, then move it to the low balance section.  There's a thing on....I think Dr. of Credit with a list of cards.