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

[ducky19]

I know the feeling. Also added 6 cards, had three adds right out of the gate, now... crickets.

[Roothy]

If I were to get a few hundred bucks a year, that's a few hundred more bucks than I would have had otherwise.  This is free money.  It seems churlish to complain.  (That said, I'm still waiting on nibbles myself--three cards registered, all with high limits, and one fifteen years old.)

[Malaysia41]

It's not complaining. I was asking if others were having similar experiences and expressing a tinge of disappointment. That's all. I think we all agree this money is a nice perk when it arrives.

[arebelspy]

It's not complaining. I was asking if others were having similar experiences and expressing a tinge of disappointment. That's all. I think we all agree this money is a nice perk when it arrives.

Definitely!  No worries.  :)

They're busy at the moment working on the portal (a few of us have used the beta and given feedback--not to actually get any sales, so don't worry about being left out of that, but just to create a login, see the process of adding cards to it, etc.) on top of their normal activity, so stuff is happening, it's just not visible yet.

[ducky19]

Yeah, totally not complaining - just anxiously awaiting! Even if the $500 I get from those three adds were all I get this year, it's $500 more than I had for almost no effort!

[sw1tch]

Just a quick update about my correspondence with the owner:

I got a reply later that same day with all the docs, FAQ's, etc.  I just e-mailed him back (1.5 days later) with photos of the forms and am waiting for the confirmation that I didn't miss anything.

I know I probably have another month until I might get any hits but just thought I'd share where my situation is at.  Happy piggybacking!

[thepokercab]

Pretty much the same story here.  Submitted all my paper work on January 11th, but no adds here.  The owner said at the time it would probably be February until I got anything, so i'm not worried either way.  Its basically free money.  It would be nice to get some, but if I don't, oh well.   

[secondcor521]

For those who have gotten sales but have not yet gotten paid (like me), ARS and I are currently asking new company owner about the payment schedule and will post an update here when we find out.

Just trying to save the new company owner replying to fifty or a hundred emails asking the same thing :-)

[MasterStache]

For those who have gotten sales but have not yet gotten paid (like me), ARS and I are currently asking new company owner about the payment schedule and will post an update here when we find out.

Just trying to save the new company owner replying to fifty or a hundred emails asking the same thing :-)

I emailed him about payment probably 1.5 weeks ago. He emailed me back at the end of last week and said it should be in my account within a couple of business days. It showed up the next day. Just a data point.

I wouldn't bank on getting paid at 4 weeks after the add. Factor in a week or two leeway in there. Especially with how busy they are. 

[Roothy]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

[ditkanate]

Sent ARS a PM for the company info.  Looking forward to getting started with this. 

Last year I called US Bank and had them move my Flexperks Visa card ($95 annual fee) over to a no-fee American Express since I wasn't actively using the card anymore.  Wonder if they would let me switch that over to a card that would be eligible for this.  I have some other cards that will work too, but this is my oldest card with the highest credit line, so I'd like to be able for it to participate. 

[arebelspy]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

Yep, eventually cards will likely close. If card closure is not an outcome that is worth risking, definitely don't do tradeline sales.

Nope, no Mustachians have had any cards closed doing it for the last 7 months.  :)

[Alim Nassor]

I'm guessing the slow sales are much more related to them being swamped, than to the market being swamped.  I'd bet that there are lots more folks who need help with their credit, than have good credit and are willing to sell a trade-in.

[Alim Nassor]

Couple of more questions for anyone who can answer them.   I was reading the info on my Citicard, it said any AU has access to my CC information.   Is that true when using this middleman?

And another one,  what happens if an AU pulls his credit report.   Is there any info on it now that he could use to steal my identity?  Do credit reports show the full card number, or any other useful info?


Thanks.

[tj]

Couple of more questions for anyone who can answer them.   I was reading the info on my Citicard, it said any AU has access to my CC information.   Is that true when using this middleman?

And another one,  what happens if an AU pulls his credit report.   Is there any info on it now that he could use to steal my identity?  Do credit reports show the full card number, or any other useful info?


Thanks.

They certainly will have your address show up on their credit report. Full account numbers aren't shown on credit reports.

[tj]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

This is why ARS says only use cards that you don't care if they might get closed. He's not using Chase for that reason. If I can get a few grand out of AU's on my chase card, that beats the pants off of any future sign up bonus @ Chase. You also ahve to assume that if you get an account closed for this that you'll get black listed. This is why I don't have my USAA card enrolled. it's not worth messing up my auto insurance. And certainly don't use a bank that you have major deposits at as you wouldn't want your funds to be temporarily frozen.

I have plenty of credit cards at issuers that they don't work with, so I'm not concerned about losing access to all of my credit. (Amex, Navy Fed, PenFed, and other credit unions, plus the aforementioned USAA which I won't be enrolling), so I'm not worried if the enrolled cards get closed, but I trust that they will do whatever they can to minimize closure probability by not giving you too many AU's all at once and such.

[arebelspy]

I'm guessing the slow sales are much more related to them being swamped, than to the market being swamped.  I'd bet that there are lots more folks who need help with their credit, than have good credit and are willing to sell a trade-in.

Sure, but the challenge is finding them, and letting them know it exists.  How many people had heard about buying an AU spot from a stranger before this thread.

The current market isn't those who need to improve their credit, it's those who know about this method, and have reason to pay for it.  The potential market is all of the former, but the ones adding AUs is the latter.

+1 to TJ on the rest.  :)

[wienerdog]

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

He pretty much told me don't bother with my two Chase cards.

[MasterStache]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

Yep, eventually cards will likely close. If card closure is not an outcome that is worth risking, definitely don't do tradeline sales.

Nope, no Mustachians have had any cards closed doing it for the last 7 months.  :)

This is actually why I hope sales are a bit slow. I only have my USAA card enrolled. But I have had accounts and insurance with them for close to 2 decades. I would be surprised if they suddenly decided to close all my accounts over this since they would essentially be losing me as a long term customer and someone they make money off of. I will probably drop my USAA card from tradelines once a couple other cards come of age soon.

[hoodedfalcon]

This is actually why I hope sales are a bit slow. I only have my USAA card enrolled. But I have had accounts and insurance with them for close to 2 decades. I would be surprised if they suddenly decided to close all my accounts over this since they would essentially be losing me as a long term customer and someone they make money off of. I will probably drop my USAA card from tradelines once a couple other cards come of age soon.

I only have my USAA card enrolled and I would also be shocked if they blacklisted me entirely. I have car insurance, home insurance, checking, savings, car loan, and a mutual fund with them. But similarly, I will be moving away from using my USAA card once I have some other cards ready to go.

[tj]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

Yep, eventually cards will likely close. If card closure is not an outcome that is worth risking, definitely don't do tradeline sales.

Nope, no Mustachians have had any cards closed doing it for the last 7 months.  :)

This is actually why I hope sales are a bit slow. I only have my USAA card enrolled. But I have had accounts and insurance with them for close to 2 decades. I would be surprised if they suddenly decided to close all my accounts over this since they would essentially be losing me as a long term customer and someone they make money off of. I will probably drop my USAA card from tradelines once a couple other cards come of age soon.

I wouldn't be surprised. You're using their credit card to circumvent their industry-wide standard risk management in the form of credit analysis. This is not normal credit card consumer behavior. That's why it is so lucrative. I've seen people get blacklisted from credit card issuers for manufactured spending which is drastically more tame than this IMO. Maybe you get a warning first, but never a guarantee.

[robartsd]

I wouldn't be surprised. You're using their credit card to circumvent their industry-wide standard risk management in the form of credit analysis. This is not normal credit card consumer behavior. That's why it is so lucrative. I've seen people get blacklisted from credit card issuers for manufactured spending which is drastically more tame than this IMO. Maybe you get a warning first, but never a guarantee.

I think the most likely outcome if this becomes too much of a problem for the industry would be to report how long someone has been an AU on an account rather than how old the account is. I believe this is already how American Express reports which is why American Express accounts are not useful for tradeline sales.

[MasterStache]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

Yep, eventually cards will likely close. If card closure is not an outcome that is worth risking, definitely don't do tradeline sales.

Nope, no Mustachians have had any cards closed doing it for the last 7 months.  :)

This is actually why I hope sales are a bit slow. I only have my USAA card enrolled. But I have had accounts and insurance with them for close to 2 decades. I would be surprised if they suddenly decided to close all my accounts over this since they would essentially be losing me as a long term customer and someone they make money off of. I will probably drop my USAA card from tradelines once a couple other cards come of age soon.

I wouldn't be surprised. You're using their credit card to circumvent their industry-wide standard risk management in the form of credit analysis. This is not normal credit card consumer behavior. That's why it is so lucrative. I've seen people get blacklisted from credit card issuers for manufactured spending which is drastically more tame than this IMO. Maybe you get a warning first, but never a guarantee.

Sure there are some hardcore churners out there who do massive amounts of MS. I wouldn't be surprised by that. If you go "balls to the walls" on opportunities likes this, you are more likely to draw attention to yourself and get blacklisted. I still churn using MS, but not very often. I doubt my level of churning sends up any red flags. I am keeping my level of piggybacking the same way.

I'll do a bit more with cards I don't care to get shut down, when they come of age. If USAA decides to blacklist me, oh well. There are plenty of local banks and insurance companies that will gladly take my money. I highly doubt it will come to that, but if it does, no biggie.   

[TomTX]

So I got word back that they have my materials, but that given the number of new cards they have, sales are likely to be very slow. 

But he said something interesting, and forcefully: he said closure of the cards is not a matter of "if," but only "when."  He says that while a few people have done this for a few years, eventually, any card you use WILL get closed.  That was a stronger prediction than I ever heard on this thread.

Has anyone had any cards closed?

Yep, eventually cards will likely close. If card closure is not an outcome that is worth risking, definitely don't do tradeline sales.

Nope, no Mustachians have had any cards closed doing it for the last 7 months.  :)

This is actually why I hope sales are a bit slow. I only have my USAA card enrolled. But I have had accounts and insurance with them for close to 2 decades. I would be surprised if they suddenly decided to close all my accounts over this since they would essentially be losing me as a long term customer and someone they make money off of. I will probably drop my USAA card from tradelines once a couple other cards come of age soon.

I wouldn't be surprised. You're using their credit card to circumvent their industry-wide standard risk management in the form of credit analysis. This is not normal credit card consumer behavior. That's why it is so lucrative. I've seen people get blacklisted from credit card issuers for manufactured spending which is drastically more tame than this IMO. Maybe you get a warning first, but never a guarantee.

I would not consider hardcore MS 'more tame' - MS is directly taking cash out of their pockets. This is more indirect,if at all negative for the cc issuer.

[arebelspy]

I think the most likely outcome if this becomes too much of a problem for the industry would be to report how long someone has been an AU on an account rather than how old the account is. I believe this is already how American Express reports which is why American Express accounts are not useful for tradeline sales.

Yep.  On the AU's credit report, the "open" date is the date they were added as AU. So it's aged 0 at first, which makes Amex not helpful to boost AU's average age.  I too wouldn't be surprised to see other cards go this way, and no longer be useful.  Hopefully not though.  ;)

Sure there are some hardcore churners out there who do massive amounts of MS. I wouldn't be surprised by that. If you go "balls to the walls" on opportunities likes this, you are more likely to draw attention to yourself and get blacklisted. I still churn using MS, but not very often. I doubt my level of churning sends up any red flags. I am keeping my level of piggybacking the same way.

I'll do a bit more with cards I don't care to get shut down, when they come of age. If USAA decides to blacklist me, oh well. There are plenty of local banks and insurance companies that will gladly take my money. I highly doubt it will come to that, but if it does, no biggie.   

Yep, this is the attitude I have.

If they cancel, oh well.  That's something you have to be okay with if you sell TLs.

Luckily, cancellations are rare.  If you do a bunch of TLs all the time, they'll happen.  Eventually, likely years down the road, if you're steadily doing some, they'll likely happen.  If you occasionally get a sale every few months?  I'd be very surprised, as long as the AU is vetted and a real person, not fraud (i.e. other companies that don't very the same can get you shut down after a single add, if there's a problem with it).

I would not consider hardcore MS 'more tame' - MS is directly taking cash out of their pockets. This is more indirect,if at all negative for the cc issuer.

Agreed, which is why I think you're much more likely to get a card shut down, but not blacklisted. AFAIK, no one's been blacklisted anywhere, except Chase (why I don't currently use them--I have 500k+ UR points I'd rather not potentially lose).  Otherwise I'd consider using Chase.

Speaking of Chase...

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

He pretty much told me don't bother with my two Chase cards.

Here's the thing with Chase cards:
They're a pain in the rear for AU companies.  That's why old company doesn't take them at all, and it's only worth using if they're really good cards (really old and/or really high limits) for the new company.

To get them to report correctly, the AU needs to buy a TL slot on the Chase and on another card by the same person (so you can't only enroll a Chase).  So that's more expensive, so automatically rarer that you'll see that sale.  Even then, it may not report.

So here's the strategy with Chase cards:
Transfer all your credit (leaving a few hundred bucks) onto one Chase "super" card--the one with the oldest limit.

So say you have 3 Chase cards with limits of $18k, 22k, and 7k.  If the 7k is the oldest, transfer 17k and 21k of credit to it, making it a 45k card (and the others 1k and 1k) with a long credit history.

Enroll that.

That's more likely to get sales than other dinky ones, which likely won't.

I mean, if you have a single 20k+ Chase (and another card enrolled), it doesn't HURT to enroll it, I just wouldn't expect to see many sales on it.

Having only one Chase enrolled also decreases your risk they shut you down.

Whereas if those were Barclays, I'd probably transfer credit from the youngest to the two oldest to get two of them over 20k (one of them being the original 7k card, since that was the oldest, keep the newest one at 1k), and then work on bumping the limits on all 3 so I could transfer credit around to get all three enrolled, two at > 20k, one at > 10k.

Hope that helps, for those of you wondering about Chase!

It's nice that they're still taking them, but sales will still be slow (but luckily if you do get a Chase sale, it comes with one on another card).  :)

[frozen]

Has anyone found a way to itemize deductions associated with this gig?
 I made almost $4K last year with this gig and I am working on my taxes right now with TurboTax.

[secondcor521]

Has anyone found a way to itemize deductions associated with this gig?
 I made almost $4K last year with this gig and I am working on my taxes right now with TurboTax.

See here:

http://forum.mrmoneymustache.com/taxes/small-business-and-miscellaneous-income-best-practices/

Short answer:  if you do a schedule C, you'll be able to deduct expenses against income.  You'll pay income tax on your net profit, plus probably self-employment taxes given the amount you earned.

[ditkanate]

Was able to enroll 2 cards in the program today.  The email I received said they are taking cards that are over 2 years old with limits of $10,000 and up.  I've got a couple more cards that are close to eligible, but I have to wait a few months to request another credit line bump.  Had some luck with Chase shuffling my credit lines around so that one of my cards went up over $10k.  Citi and Discover were unwilling to move credit lines from one card to another.  So I'm stuck with 2 separate Discover cards with limits in the $8,000 range.  Frustrating.

[TomTX]

Was able to enroll 2 cards in the program today.  The email I received said they are taking cards that are over 2 years old with limits of $10,000 and up.  I've got a couple more cards that are close to eligible, but I have to wait a few months to request another credit line bump.  Had some luck with Chase shuffling my credit lines around so that one of my cards went up over $10k.  Citi and Discover were unwilling to move credit lines from one card to another.  So I'm stuck with 2 separate Discover cards with limits in the $8,000 range.  Frustrating.

Patience. You can get a CL increase from Discover every 60 days.

After that, you can get FAR more sales with 2 cards than one.

[tj]

Was able to enroll 2 cards in the program today.  The email I received said they are taking cards that are over 2 years old with limits of $10,000 and up.  I've got a couple more cards that are close to eligible, but I have to wait a few months to request another credit line bump.  Had some luck with Chase shuffling my credit lines around so that one of my cards went up over $10k.  Citi and Discover were unwilling to move credit lines from one card to another.  So I'm stuck with 2 separate Discover cards with limits in the $8,000 range.  Frustrating.

Patience. You can get a CL increase from Discover every 60 days.

After that, you can get FAR more sales with 2 cards than one.

Did you have a place to add a desired Credit Limit with them? After 60 days I filled out the form with my income etc, but it said it will take a few days to review. They increased me, but I was hoping to request more.

[TomTX]

Was able to enroll 2 cards in the program today.  The email I received said they are taking cards that are over 2 years old with limits of $10,000 and up.  I've got a couple more cards that are close to eligible, but I have to wait a few months to request another credit line bump.  Had some luck with Chase shuffling my credit lines around so that one of my cards went up over $10k.  Citi and Discover were unwilling to move credit lines from one card to another.  So I'm stuck with 2 separate Discover cards with limits in the $8,000 range.  Frustrating.

Patience. You can get a CL increase from Discover every 60 days.

After that, you can get FAR more sales with 2 cards than one.

Did you have a place to add a desired Credit Limit with them? After 60 days I filled out the form with my income etc, but it said it will take a few days to review. They increased me, but I was hoping to request more.

Huh. I just do it on the website and it is typically instant.

[katsiki]

Was able to enroll 2 cards in the program today.  The email I received said they are taking cards that are over 2 years old with limits of $10,000 and up.  I've got a couple more cards that are close to eligible, but I have to wait a few months to request another credit line bump.  Had some luck with Chase shuffling my credit lines around so that one of my cards went up over $10k.  Citi and Discover were unwilling to move credit lines from one card to another.  So I'm stuck with 2 separate Discover cards with limits in the $8,000 range.  Frustrating.

Patience. You can get a CL increase from Discover every 60 days.

After that, you can get FAR more sales with 2 cards than one.

Did you have a place to add a desired Credit Limit with them? After 60 days I filled out the form with my income etc, but it said it will take a few days to review. They increased me, but I was hoping to request more.

Discover doesn't allow you to suggest a limit or increase amount.  In my experience, they evaluate your inputs (income, mortgage, maybe something else like assets) and respond immediately.  If they do not, I believe they will indicate it will be a hard pull and give you an option to accept or decline.

Hope that helps.

[tj]

Was able to enroll 2 cards in the program today.  The email I received said they are taking cards that are over 2 years old with limits of $10,000 and up.  I've got a couple more cards that are close to eligible, but I have to wait a few months to request another credit line bump.  Had some luck with Chase shuffling my credit lines around so that one of my cards went up over $10k.  Citi and Discover were unwilling to move credit lines from one card to another.  So I'm stuck with 2 separate Discover cards with limits in the $8,000 range.  Frustrating.

Patience. You can get a CL increase from Discover every 60 days.

After that, you can get FAR more sales with 2 cards than one.

Did you have a place to add a desired Credit Limit with them? After 60 days I filled out the form with my income etc, but it said it will take a few days to review. They increased me, but I was hoping to request more.

Discover doesn't allow you to suggest a limit or increase amount.  In my experience, they evaluate your inputs (income, mortgage, maybe something else like assets) and respond immediately.  If they do not, I believe they will indicate it will be a hard pull and give you an option to accept or decline.

Hope that helps.

I had your experience 2 months ago, where you could put a higher amount if the suggestes amount wasn't enough, but this time, I didn't have that option at all. It just went straight to pending and sent me an email approval regarding a token increase. Wonder if they didn't pull a hard ?

[Shade00]

I'm pretty sure Discover never does a hard pull without getting your consent. So if you got an approval without asking for your consent to do the hard pull, they did at most a soft pull.

I did a Discover CLI at the end of November. Recently tried again and got shut down - "not enough experience" with the new credit limit. I have a calendar reminder to try again at the 90-day mark.

[MsFrugalista]

Just got an email to sign up for new company's portal! Glad it's up and running. Still no sales with this company, but I only have 1 card that is worthy of sales, so not complaining (I've been getting sales with old company). Portal is a bit clunky, but better than nothing.

[dlawson]

Does anyone know if Capital One ever transfers credit limits between cards? I did an online chat and was told no, but it may be worth it to call someone tomorrow.

I have a relatively new card with a high limit, and an older one with a low limit. Would love to move some of that limit over to the old one.

Yes you can. More info here: http://www.doctorofcredit.com/rules-for-reallocating-your-credit-limit-with-each-credit-card-issuer/

[arebelspy]

Just got an email to sign up for new company's portal!

Yep!  :)

If you did not get this email:
A) No need to panic,
B) No need to post or email the company about it.

Current status is: they are sending out emails in batches to not overwhelm the portal with everyone signing up for it at once.  So some people will have gotten an email (a small percent of Mustachians, around 10%, I believe) today, and then more will get it over the next few days.

I'd guess everyone will get it within the next week or two.

It won't affect your sales, as right now the portal is up, but they're still doing the manual email AU adds (just got a sale myself yesterday), so if you aren't signed up for the portal until a bit later, no worries, it won't affect you monetarily.  Once they have everyone in the portal system, they'll start using that exclusively, so when you do get the email, make sure you go sign up.

As with my disclaimer in the OP, there will be a place to select me/MMM forums as the referrer.  If you select this, you'll get the higher payout rate on select categories, as mentioned (and my referral will not make you paid any less, but rather more). However, there is no obligation to select it, I believe you can leave that field blank.

[flashflooder]

I see a spot for uploading documents on the portal (W9, Cardmember Agreement, etc.)  I'm assuming I don't have to upload again since I already sent it via e-mail?

Also, I added my cards last night and they all say "Pending Activation".  Does that mean I just wait?

[arebelspy]

Yes to both.

[solon]

I went through a round of credit limit increase requests yesterday. I was successful; I got several thousand dollars more credit. But all of them asked why I wanted the increase. I told them I was thinking of starting a new business and wanted to have some extra credit available.

I'm new at this, though. What do I say in three months when I ask for another increase? If I give them the same reason, but they see that I haven't been charging anymore since my last increase, won't they think that's odd? How many times can I tell them I'm starting a new business, without actually charging any more on my cards, before they see through my little game?

[aetherie]

I went through a round of credit limit increase requests yesterday. I was successful; I got several thousand dollars more credit. But all of them asked why I wanted the increase. I told them I was thinking of starting a new business and wanted to have some extra credit available.

I'm new at this, though. What do I say in three months when I ask for another increase? If I give them the same reason, but they see that I haven't been charging anymore since my last increase, won't they think that's odd? How many times can I tell them I'm starting a new business, without actually charging any more on my cards, before they see through my little game?

I've only been asked once, and I just said I'd been doing some reading on credit scores and learned that it's important to have a good utilization ratio and higher limits help with that, so could I please have a higher limit. It worked.

[arebelspy]

Or tell them you just want to have more available credit.  They don't care, and don't check back months ago to previous requests. They're just filling a box.  :)

[ss17]

Well, I guess I must be the 1'st to get my card closed with the new company.  I just received a letter from B of A saying "This account is closed due to irregularity in Authorized user activity."  I had enrolled in January, and had 2 sales last month, and had just added a 3'rd this month.  I'm wondering if I'll get paid for anything now?

[Malaysia41]

Well, I guess I must be the 1'st to get my card closed with the new company.  I just received a letter from B of A saying "This account is closed due to irregularity in Authorized user activity."  I had enrolled in January, and had 2 sales last month, and had just added a 3'rd this month.  I'm wondering if I'll get paid for anything now?

Ruh roh.  We have a 45k 1996 BofA with old company. Maybe we'll play it cool for a month or two.

[boarder42]

Well, I guess I must be the 1'st to get my card closed with the new company.  I just received a letter from B of A saying "This account is closed due to irregularity in Authorized user activity."  I had enrolled in January, and had 2 sales last month, and had just added a 3'rd this month.  I'm wondering if I'll get paid for anything now?

you need to inform the new company..  the site i currently use is having similar issues come in they've haulted all BofA sales.  Basically sounds to me like BofA is now dead for Tradelines. 

[arebelspy]

Well, I guess I must be the 1'st to get my card closed with the new company.  I just received a letter from B of A saying "This account is closed due to irregularity in Authorized user activity."  I had enrolled in January, and had 2 sales last month, and had just added a 3'rd this month.  I'm wondering if I'll get paid for anything now?

Ick. 

Sorry.  =/

Can you CC me (you should have my email from the original referral info, but if not, PM me for it) when you message the tradeline company about it (or, if you've already messaged them, forward to me), so I can be in the loop as well?

I also just emailed them separately, and will keep everyone in the loop.

Ruh roh.  We have a 45k 1996 BofA with old company. Maybe we'll play it cool for a month or two.

I have multiple B of As enrolled between my wife and I, including a 45k card I added an AU to about 4 days ago.  =/

Well, this was one of the risks... I'll be interested to see how it plays out.

[HAPPYINAZ]

Sad to hear of the BofA issues.  I have one I was hoping to make some sales on. 

[BikeFanatic]

I signed up on the new portal today. They now only take cards that are 2 years old so my 18 months old cards I did not try to enroll. Hopefully this summer I can enroll those cards as they mature to 2 years. AT least I have my wife's 7 year old card and that is the only tradeline offer I have received thus far.
Thank you Arebelspy I did put you down as my referral.

[katsiki]

I signed up on the new portal today. They now only take cards that are 2 years old so my 18 months old cards I did not try to enroll. Hopefully this summer I can enroll those cards as they mature to 2 years. AT least I have my wife's 7 year old card and that is the only tradeline offer I have received thus far.
Thank you Arebelspy I did put you down as my referral.

I added 2 of my cards that were 18-20 months since they were previously accepted (by email from the owner).  I guess we'll see if they continue to take them.  You might want to add them or email asking.  If they get rejected, I will update my post to advise.

[arebelspy]

Heard back from the TL company.

They think the issue was that apparently there was an extra AU on the card (ss17's wife as an AU), so he went above the limit of 3 they do, to 4 total, which caused the cancellation.  Very important to tell them if any AUs are on there.  That's their best guess (no way to tell for sure, obviously).  This is the soonest they've seen a card shut down.

They haven't seen any systematic B of A shutdowns.

Citi is apparently doing an audit right now and shutting down some cards, and they've talked with several other TL companies who are seeing the same thing.

In their experience (~10 years in business), it happens every once in awhile (about every 18 to 24 months), for a month or two, then calms back down for awhile.

I signed up on the new portal today. They now only take cards that are 2 years old so my 18 months old cards I did not try to enroll. Hopefully this summer I can enroll those cards as they mature to 2 years. AT least I have my wife's 7 year old card and that is the only tradeline offer I have received thus far.
Thank you Arebelspy I did put you down as my referral.

I added 2 of my cards that were 18-20 months since they were previously accepted (by email from the owner).  I guess we'll see if they continue to take them.  You might want to add them or email asking.  If they get rejected, I will update my post to advise.

+1. Can't hurt to add them.  :)