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

[Yinzer]

I signed up in December with the new company and got my first sale yesterday. It was on one of my smaller lines but hopefully it builds from here. Woot!

[MattS]

I signed up with the 'old company' in September, with two cards I wasn't using anymore, a USAA card at about 27K, and a Discover at 18K.  Both cards are over 15 years old.  These would seem to be desirable cards, very old credit lines at the upper range of their respective tiers. 
I had two sales on the USAA at the old (much higher) rates, a third sale in January on the USAA, and my first sale on the Discover this month.  So far no issues, an easy way to make some extra money for the 'stache.  Although USAA does require calling in to add and remove users. 
I was hoping to see increased sales since I assume the 'old company' has lost a lot of investors to ARS's new recommendation, but if they don't increase I'll switch over. 

Anyway, huge thanks to ARS for starting this thread, you've increased my wealth and it looks like many others also! 

[DavidAnnArbor]

I signed up with the 'old company' in September, with two cards I wasn't using anymore, a USAA card at about 27K, and a Discover at 18K.  Both cards are over 15 years old.  These would seem to be desirable cards, very old credit lines at the upper range of their respective tiers. 
I had two sales on the USAA at the old (much higher) rates, a third sale in January on the USAA, and my first sale on the Discover this month.  So far no issues, an easy way to make some extra money for the 'stache.  Although USAA does require calling in to add and remove users. 
I was hoping to see increased sales since I assume the 'old company' has lost a lot of investors to ARS's new recommendation, but if they don't increase I'll switch over. 

Anyway, huge thanks to ARS for starting this thread, you've increased my wealth and it looks like many others also!

I'm in shock they hardly gave you any tradelines given the age and size of those credit lines. So the bottom line is they lowered our commissions and made no effort to increase tradeline sales.

[VladTheImpaler]

I signed up with the 'old company' in September, with two cards I wasn't using anymore, a USAA card at about 27K, and a Discover at 18K.  Both cards are over 15 years old.  These would seem to be desirable cards, very old credit lines at the upper range of their respective tiers. 
I had two sales on the USAA at the old (much higher) rates, a third sale in January on the USAA, and my first sale on the Discover this month.  So far no issues, an easy way to make some extra money for the 'stache.  Although USAA does require calling in to add and remove users. 
I was hoping to see increased sales since I assume the 'old company' has lost a lot of investors to ARS's new recommendation, but if they don't increase I'll switch over. 

Anyway, huge thanks to ARS for starting this thread, you've increased my wealth and it looks like many others also!

I've got a hunch that A LOT of the guys here are secretly are "double dipping" to max sales.
BOOM! yes I just went there.

[arebelspy]

I signed up with the 'old company' in September, with two cards I wasn't using anymore, a USAA card at about 27K, and a Discover at 18K.  Both cards are over 15 years old.  These would seem to be desirable cards, very old credit lines at the upper range of their respective tiers. 
I had two sales on the USAA at the old (much higher) rates, a third sale in January on the USAA, and my first sale on the Discover this month.  So far no issues, an easy way to make some extra money for the 'stache.  Although USAA does require calling in to add and remove users. 
I was hoping to see increased sales since I assume the 'old company' has lost a lot of investors to ARS's new recommendation, but if they don't increase I'll switch over. 

Yeah, I think new company would net you more sales, with those cards.  Still, a few hundred extra dollars is awesome anyways.  :)

Anyway, huge thanks to ARS for starting this thread, you've increased my wealth and it looks like many others also!

Awesome!  Love it.  :D

I signed up in December with the new company and got my first sale yesterday. It was on one of my smaller lines but hopefully it builds from here. Woot!

Nice!

Moreover, on those authorized users where I had to upload documents like driver's license to confirm the identity - the Discover card portal would freeze during the upload.

I've never had the freeze problem when uploading AU docs (only done that once, actually, usually for me Discover has me answer a security question about myself after adding the AU, then it adds them, no docs required), but I did when uploading through the CS portal a document for myself (I forget what it was, this was maybe 6 months ago--something to verify income for a credit increase maybe?).

Realized it does that when the file size is too large.  Had to just shrink/decrease the quality and try to upload again.  Could be worth trying if the AU docs upload does that again.

I signed up with the 'old company' in September, with two cards I wasn't using anymore, a USAA card at about 27K, and a Discover at 18K.  Both cards are over 15 years old.  These would seem to be desirable cards, very old credit lines at the upper range of their respective tiers. 
I had two sales on the USAA at the old (much higher) rates, a third sale in January on the USAA, and my first sale on the Discover this month.  So far no issues, an easy way to make some extra money for the 'stache.  Although USAA does require calling in to add and remove users. 
I was hoping to see increased sales since I assume the 'old company' has lost a lot of investors to ARS's new recommendation, but if they don't increase I'll switch over. 

Anyway, huge thanks to ARS for starting this thread, you've increased my wealth and it looks like many others also!

I've got a hunch that A LOT of the guys here are secretly are "double dipping" to max sales.
BOOM! yes I just went there.

You would think so, but Mustachians are pretty honest as a whole, and the companies have asked for this not to happen, for obvious reasons (overselling and getting the card shut down is bad for them, too, not just because the card is no longer available, but because the lines sold on it now post as a closed card, which is bad for their AUs and makes them look bad).

It also doesn't appear to be happening.  I can see sales of people who used me as a referral, and I haven't noticed any sales (though I haven't looked hard) to the same people from both companies, so I'm not seeing any instances of that.  :)

[VladTheImpaler]

[/quote]
You would think so, but Mustachians are pretty honest as a whole, and the companies have asked for this not to happen, for obvious reasons (overselling and getting the card shut down is bad for them, too, not just because the card is no longer available, but because the lines sold on it now post as a closed card, which is bad for their AUs and makes them look bad).

It also doesn't appear to be happening.  I can see sales of people who used me as a referral, and I haven't noticed any sales (though I haven't looked hard) to the same people from both companies, so I'm not seeing any instances of that.  :)
[/quote]

That's a relief actually. I am glad that ARS has a way to have a bit of oversight.
Checks and balances are a good thing.
For the record, I obviously have no way of knowing that. Like I said it was just a hunch.
But just to play devil's advocate: What incentive would they have to cop to it, if they thought they could get away with it?

I have 2 cards with the new company and no sales yet.

[solon]

Would there be any problem with being registered at both companies, but using a first come, first served approach? So if I sold a slot through company A, then got a request from company B, I could just turn down company B without adding the AU. That way, I'm more likely to get a sale, but still not double book.

[arebelspy]

Would there be any problem with being registered at both companies, but using a first come, first served approach? So if I sold a slot through company A, then got a request from company B, I could just turn down company B without adding the AU. That way, I'm more likely to get a sale, but still not double book.

Old company has said they do not want cards enrolled at other TL companies, since they have no way to be sure the AUs were verified up to their standards.

I'm confident in it, based on my research, but I understand that position.  So they may not have any way of knowing, but I'd still honor that.

On top of that, if you're turning down AU spots, they're likely to stop giving them to you.

Further, your risk of cancellation is higher, unless you know the formula new company uses for adding/removing AUs and amount of activity on a card per month--e.g. you may use the simpler "max # of AUs" concept, but then if you have more activity of adding/removing based on that, you may get shut down anyways.

It's not something I'd do, personally.

If you really don't care about the card and just want to burn it as quick as possible to make as much as possible in a short timeframe, you can do that.  I'd rather have the card last as long as possible to keep the revenue coming in and maximize the lifetime amount of money.

[Optimiser]

Would there be any problem with being registered at both companies, but using a first come, first served approach? So if I sold a slot through company A, then got a request from company B, I could just turn down company B without adding the AU. That way, I'm more likely to get a sale, but still not double book.

The agreement that you have to sign for the new company says you won't submit cards that are available to be sold with other companies. I can't speak for the old company.

[TomTX]

Just a PSA/FYI

The site i'm using has just haulted all BofA adds due to abnormal shutdowns for authorized user activity.  I'm unsure if this will effect the site ARS is recommending but BofA may be making policy changes similar to what Chase does.

It appears BoA is doing something widespread, not just AU shutdowns.

BoA also was cancelling a lot of cards for people (churners) who had a LOT of cards, including duplicates. Not all cards, just what they thought was excessive.

[VladTheImpaler]

Would there be any problem with being registered at both companies, but using a first come, first served approach? So if I sold a slot through company A, then got a request from company B, I could just turn down company B without adding the AU. That way, I'm more likely to get a sale, but still not double book.

Old company has said they do not want cards enrolled at other TL companies, since they have no way to be sure the AUs were verified up to their standards.

I'm confident in it, based on my research, but I understand that position.  So they may not have any way of knowing, but I'd still honor that.

On top of that, if you're turning down AU spots, they're likely to stop giving them to you.

Further, your risk of cancellation is higher, unless you know the formula new company uses for adding/removing AUs and amount of activity on a card per month--e.g. you may use the simpler "max # of AUs" concept, but then if you have more activity of adding/removing based on that, you may get shut down anyways.

It's not something I'd do, personally.

If you really don't care about the card and just want to burn it as quick as possible to make as much as possible in a short timeframe, you can do that.  I'd rather have the card last as long as possible to keep the revenue coming in and maximize the lifetime amount of money.

IMHO, ARebs is being too nice.
Just don't do it.
Someone else already stated that it is explicitly against the terms with the new company.
There's no reason to get greedy and goof up.
It's sounds like Chase and BofA are cracking down.
Experian, Transunion, and Equifax sure as hell don't want people selling trade lines either.
Don't be "that guy" who prematurely puts an end to a good thing.


(Steps off soapbox)

[secondcor521]

Would there be any problem with being registered at both companies, but using a first come, first served approach? So if I sold a slot through company A, then got a request from company B, I could just turn down company B without adding the AU. That way, I'm more likely to get a sale, but still not double book.

Old company has said they do not want cards enrolled at other TL companies, since they have no way to be sure the AUs were verified up to their standards.

I'm confident in it, based on my research, but I understand that position.  So they may not have any way of knowing, but I'd still honor that.

On top of that, if you're turning down AU spots, they're likely to stop giving them to you.

Further, your risk of cancellation is higher, unless you know the formula new company uses for adding/removing AUs and amount of activity on a card per month--e.g. you may use the simpler "max # of AUs" concept, but then if you have more activity of adding/removing based on that, you may get shut down anyways.

It's not something I'd do, personally.

If you really don't care about the card and just want to burn it as quick as possible to make as much as possible in a short timeframe, you can do that.  I'd rather have the card last as long as possible to keep the revenue coming in and maximize the lifetime amount of money.

IMHO, ARebs is being too nice.
Just don't do it.
Someone else already stated that it is explicitly against the terms with the new company.
There's no reason to get greedy and goof up.
It's sounds like Chase and BofA are cracking down.
Experian, Transunion, and Equifax sure as hell don't want people selling trade lines either.
Don't be "that guy" who prematurely puts an end to a good thing.


(Steps off soapbox)

+2

Another thing is that if you've mentioned ARS to new company and then treat new company badly (by making them look bad to their customers when you either (a) turn down sales that they've already made on your CL or (b) get your card shut down which negatively affects AUs currently on that card), you're reflecting badly on ARS and the MMM community.  Uncool in my book.

Maybe you'll make a few more sales sooner, but will get shut down sooner and it will cost you more in the long run IMHO.  Pigs get fat, hogs get slaughtered.

[FrugalZony]

Would there be any problem with being registered at both companies, but using a first come, first served approach? So if I sold a slot through company A, then got a request from company B, I could just turn down company B without adding the AU. That way, I'm more likely to get a sale, but still not double book.

It's in your agreement with "new company" to exclusively offer these cards to them.
I hope people read the stuff they sign ;)
Cannot speak for old company, but once you signed with new company you'd be at least violating one agreement, which I am not interested in in the least bit.

I personally only have one card that qualifies, but I have limited myself voluntarily from the getgo by capping the number of AU's and by asking "new company" to not add last minute AU's because I may need more lead time due to my less connected FIRED lifestyle.

[link_417]

I signed up in December with the new company and got my first sale yesterday. It was on one of my smaller lines but hopefully it builds from here. Woot!

Same story here, except I got my first sale yesterday (and all of my lines are pretty small, I top out at $10.2k). An easy $125, I'll take it! I gave up after the new company sent out that new investor email stating they wanted cards with limits in the tens of thousands. I just went to send a work email and saw an email from the company with my first AU, though, so I guess they're still working through their inventory of the initial flood of cards.

[boarder42]

It's funny how people are speaking out against violating TOS when this entire system is a violation of the TOS of the credit card.  Get off your high horse about that I mean c'mon.

[flower]

Can we use business credit cards or only personal credit cards?

I tried searching this thread but couldn't find anything.

[boarder42]

Can we use business credit cards or only personal credit cards?

I tried searching this thread but couldn't find anything.

Only personal

[TomTX]

It's funny how people are speaking out against violating TOS when this entire system is a violation of the TOS of the credit card.  Get off your high horse about that I mean c'mon.

My cc TOS allows me to add and remove AUs, and I am responsible for their purchases. Doesn't require much else.

[ducky19]

It's funny how people are speaking out against violating TOS when this entire system is a violation of the TOS of the credit card.  Get off your high horse about that I mean c'mon.

Have you actually read your TOS? I'm guessing no. I would love to see the wording that makes adding an AU a violation if you can find it (I couldn't).

[Malaysia41]

I signed up with new company a month ago with a 20k limit, 8 year old Cap One card. No bites yet. :(.

[DavidAnnArbor]

I signed up with new company a month ago with a 20k limit, 8 year old Cap One card. No bites yet. :(.

wow that's a good card, i'm surprised.

[arebelspy]

Re: TOS.  I believe it's against Chase's TOS, but not the others, but I could be wrong (on either of those). Anyone wanting to actually read them, feel free.  ;)

Either way, the companies usually don't care for the practice (some more strongly than others) and reserve the right to shut down your accounts with them for any reason, even if you aren't violating any terms of service, so it doesn't matter so much even if it's not violating TOS in terms of potentially being shut down.

Can we use business credit cards or only personal credit cards?

I tried searching this thread but couldn't find anything.

No, business cards don't report the same so they don't help a user's credit score.

[Alim Nassor]

Hi guys.  Sorry if my impatience caused me to miss the answer to this question, but does a balance affect the credit limit requirements?  What I mean is, say I have a card with a 12k limit but currently have a 5k balance, does that change anything?

Thanks.

[TomTX]

Hi guys.  Sorry if my impatience caused me to miss the answer to this question, but does a balance affect the credit limit requirements?  What I mean is, say I have a card with a 12k limit but currently have a 5k balance, does that change anything?

Thanks.

You cannot use a card with that high of a utilization.

[HSBW]

How long did it take for people to get responses from the new company? I sent them an email on Thursday to sign up and I haven't heard back yet.

[ZagNation]

I signed up with new company a month ago with a 20k limit, 8 year old Cap One card. No bites yet. :(.

Sadly I am in the same boat; Citi card @ $13,200 issued 7/10 and a Discover card @ $29,500 issued 7/14. It's only been a month so although no bites before either closing dates the prior weekend, I am still hopeful and along for the ride!

[N]

Hi guys.  Sorry if my impatience caused me to miss the answer to this question, but does a balance affect the credit limit requirements?  What I mean is, say I have a card with a 12k limit but currently have a 5k balance, does that change anything?

Thanks.

I think they want the utilization to be 10% or less of the total limit.

[Alim Nassor]

Hi guys.  Sorry if my impatience caused me to miss the answer to this question, but does a balance affect the credit limit requirements?  What I mean is, say I have a card with a 12k limit but currently have a 5k balance, does that change anything?

Thanks.

I think they want the utilization to be 10% or less of the total limit.

Thanks.

[merula]

Hi guys.  Sorry if my impatience caused me to miss the answer to this question, but does a balance affect the credit limit requirements?  What I mean is, say I have a card with a 12k limit but currently have a 5k balance, does that change anything?

Thanks.

I think they want the utilization to be 10% or less of the total limit.

My email from the owner said: Also, it's important that the current balances on the cards in use with us are paid down to 15% or less of their respective credit limits by the due date each month.

[MOD EDIT: Removed company info.]

[Roots&Wings]

I signed up with new company a month ago with a 20k limit, 8 year old Cap One card. No bites yet. :(.

Sadly I am in the same boat; Citi card @ $13,200 issued 7/10 and a Discover card @ $29,500 issued 7/14. It's only been a month so although no bites before either closing dates the prior weekend, I am still hopeful and along for the ride!

Same. Two $22k older cards and a $41k limit newer card with no bites :( The market seems to be flooded. But will see!

[DavidAnnArbor]

I signed up with new company a month ago with a 20k limit, 8 year old Cap One card. No bites yet. :(.

Sadly I am in the same boat; Citi card @ $13,200 issued 7/10 and a Discover card @ $29,500 issued 7/14. It's only been a month so although no bites before either closing dates the prior weekend, I am still hopeful and along for the ride!

Same. Two $22k older cards and a $41k limit newer card with no bites :( The market seems to be flooded. But will see!

The company clearly has been slammed with so many good cards. I have no idea if they can handle all this volume.

[arebelspy]

The market seems to be flooded. But will see!

I have no idea if they can handle all this volume.

No, not fully, but I think better than any other tradeline company.

The problem is that it's a small market in general.

I think new company's plan is to work on marketing for AUs through their affiliate network once they have the portal up and running (the beta is up, and some fixes are being done).

I can say that last month, even though new company really only started a week or two into the month new company had 60% more sales (for the ones I can see, Mustachians who used me as a referral) than old company, and in February have 3x as many sales as old company so far.  Now granted, more may be enrolled now with new company, but there's still plenty enrolled at old company, and they just aren't seeing much sales as well.

Overall, like I said, keeping it quiet would lead to more personal sales, but less net sales for Mustachians.

We may max out the fairly small market, but even even the sales are spread out among us, better than them going to consumers who will blow it.  ;)

There are other companies you can use, but they're outside my comfort zone.  I'd rather have infrequent sales with a good company than lots of sales (and then shutdowns) with a bad one. But it is an option.  I do think sales will pick up with new company.  All in all, it's been a month and a half.  We'll reevaluate in a few months, but quite a few people are seeing sales, so it's just being patient and waiting, for now.  :)

[MasterStache]

I only have one card but have been happy with my sales. I'm certainly not expecting an explosion of income. Heck I am ok with one or two sales every now and then. I just treat it as unexpected income and it flows right into investments.

[boarder42]

New site owner doesnt respond to my emails and has not sold anything on the cards i've enrolled.

[HAPPYINAZ]

No sales for me yet either, but I am still hopeful.  For me the owner often doesn't respond to email, but I have been able to get him on the phone. 

[secondcor521]

Huh.  I've gotten replies to all my emails and have had three sales with the new company so far.  I did sign up with the new company ASAP and have old cards with big lines, but beyond that I don't know how new company picks which specific cards get the sales (or if the actual AUs pick the cards).

[boarder42]

Huh.  I've gotten replies to all my emails and have had three sales with the new company so far.  I did sign up with the new company ASAP and have old cards with big lines, but beyond that I don't know how new company picks which specific cards get the sales (or if the actual AUs pick the cards).

i signed up early as well still havent heard crap.  i know they are busy but they are making a ridiculous amount of money.  how much does it cost to have a person be CS at this point even temp if he is that busy.

[MasterStache]

Huh.  I've gotten replies to all my emails and have had three sales with the new company so far.  I did sign up with the new company ASAP and have old cards with big lines, but beyond that I don't know how new company picks which specific cards get the sales (or if the actual AUs pick the cards).

i signed up early as well still havent heard crap.  i know they are busy but they are making a ridiculous amount of money.  how much does it cost to have a person be CS at this point even temp if he is that busy.

It took him 3 or 4 days to respond back to an email I sent. He stated he is swamped with work (I am sure sign-ups and what not) and trying to get the site up and running. Sounds like maybe he could use more help though. 

[tj]

Huh.  I've gotten replies to all my emails and have had three sales with the new company so far.  I did sign up with the new company ASAP and have old cards with big lines, but beyond that I don't know how new company picks which specific cards get the sales (or if the actual AUs pick the cards).

i signed up early as well still havent heard crap.  i know they are busy but they are making a ridiculous amount of money.  how much does it cost to have a person be CS at this point even temp if he is that busy.

He does have a helper. They've been very efficient in responding to my emails. Sorry to hear you haven't had the same experience.

[sw1tch]

I just got the initial e-mail out to them.  I'll be anxiously waiting for the response to get this ball rolling!

[HSBW]

sw1tch when did you send them your first email?

[sw1tch]

sw1tch when did you send them your first email?

I actually just sent it today.  So from what others are saying, I probably have a while to wait for a response.

[HSBW]

sw1tch when did you send them your first email?

I actually just sent it today.  So from what others are saying, I probably have a while to wait for a response.

Ah right. For some reason I thought your first post was that you got the initial email out OF them not out TO them. I guess I'm just curious to see how long it takes other people to hear back since I've been waiting since Thursday.

[dlawson]

ITT: a bunch of mustachians looking a gift horse in the mouth. ;)

[arebelspy]

It can be a drag waiting for the gift horse to arrive.  :)

[Malaysia41]

It can be a drag roller-coaster ride waiting for the gift horse to arrive.  :)

FTFY ;)

[HSBW]

It can be a drag waiting for the gift horse to arrive.  :)

Haha yes, I know I'm impatient but everyone here keeps describing this super great gift horse that spits out hundreds of dollars a month...I just want to see the gift horse too. I'm ok with waiting a month or two for the cash spigot to start flowing.

[Car Jack]

It can be a drag waiting for the gift horse to arrive.  :)

Haha yes, I know I'm impatient but everyone here keeps describing this super great gift horse that spits out hundreds of dollars a month...I just want to see the gift horse too. I'm ok with waiting a month or two for the cash spigot to start flowing.

<twiddling thumbs>  Yah, been waiting about a month.  Paperwork all done and sent in.  <twiddling thumbs some more>

[PennySaved75]

Don't get your hopes up too high.  I registered six cards in December, got the first and only AU add so far on Jan 11 and have not gotten any other requests to add AUs.  The influx of new folks willing to sell tradelines may dilute the "cash spigot" somewhat.

Two of my cards were Chase cards, so that probably makes it less likely that those would get picked.

[Ensign1999]

Posting to follow