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

[topshot]

For those of you with multiple Barclay cards, it is true you can't access them all from a single online account? I just got my first 2 from them and that is what the rep said though one is a business version.

[secondcor521]

For those of you with multiple Barclay cards, it is true you can't access them all from a single online account? I just got my first 2 from them and that is what the rep said though one is a business version.

I can access both of my Barclays cards from a single login, although in my case both are personal cards.

[katsiki]

For those of you with multiple Barclay cards, it is true you can't access them all from a single online account? I just got my first 2 from them and that is what the rep said though one is a business version.

I can access both of my Barclays cards from a single login, although in my case both are personal cards.

Same here.

[topshot]

Good. It may be because one is a business card then. With Chase you must link the business card first and then have them add the personal card so I'll try that once it arrives.

[goodlivin23]

Hi,
How often can you apply for a new Barclay card? I applied for one recently and got accepted (for $14K). I applied for another one a few days later and was denied. Thoughts?
Also, do you get any warnings before they shut down a card? I can't find anything written specifically on my agreement that states you cannot have multiple AUs (or that being a reason for them to shut down your card.

Thanks all!

[Monkey stache]

Is anyone having problems adding AUs to their USAA card? I need to add 2 AUs and USAA couldn't do it for me yesterday nor today. They claim it's the system but I'm wondering if it's a subtle "hey chill out with these AUs." They don't know when it will be working again.

[secondcor521]

Is anyone having problems adding AUs to their USAA card? I need to add 2 AUs and USAA couldn't do it for me yesterday nor today. They claim it's the system but I'm wondering if it's a subtle "hey chill out with these AUs." The don't know when it will be working again.

I had "system problems" twice when I tried to add a third AU to my USAA card.  USAA was unable to add the AU even after multiple attempts both times.  I think USAA is OK with 2 at a time but not 3 at a time, but nobody told the front line CSRs that.

If you have any AUs on your USAA card currently that you can remove, remove them and try again.  Otherwise I think your only option is to tell the AU company that you were unable to add.

[Monkey stache]

Thanks for the feedback. I already have 2 AUs and they want to add two more (all with the same company) so that must be what's causing the problem. I'm surprised the tradeline company isn't aware of this limitation.

[katsiki]

Hi,
How often can you apply for a new Barclay card? I applied for one recently and got accepted (for $14K). I applied for another one a few days later and was denied. Thoughts?
Also, do you get any warnings before they shut down a card? I can't find anything written specifically on my agreement that states you cannot have multiple AUs (or that being a reason for them to shut down your card.

Thanks all!

I have not opened a new one in a few years.  However, in my experience, they are more picky than other issuers.  I would suggest waiting a few months between cards with them (at a minimum).

[MasterStache]

Thanks for the feedback. I already have 2 AUs and they want to add two more (all with the same company) so that must be what's causing the problem. I'm surprised the tradeline company isn't aware of this limitation.

Not sure which company you are using but I am always limited to 2 AUs for USAA. I prefer to keep it that way as it' a really old high limit card so it's very profitable. Also adding AUs with USAA is a PITA!

[wienerdog]

Why does the new company send rules out about prompt replies but they don't show the same courtesy when it comes to payment?  I bet if I would never say anything I would never get paid.  I don't think I have got a payment yet without me pestering them.  Orders from March and June.

[frugalnacho]

I have only had a single $50 sale in the last year with the new company.  Did this completely dry up for anyone else? Will I have more luck if I switch over to the old company?

[arebelspy]

I have only had a single $50 sale in the last year with the new company.  Did this completely dry up for anyone else? Will I have more luck if I switch over to the old company?

Yeah, old company is seeing more sales (and no payout lag), but their card restrictions are higher (30k minimum limits, 5 years old).

If your cards fit, I tend to recommend people go there. If your cards don't, better to use new company and get occasional sales than a riskier company, IMO, but YMMV.

[Kem]

From the new company regarding payout date:  10 weeks after the closing date

[frugalnacho]

I have only had a single $50 sale in the last year with the new company.  Did this completely dry up for anyone else? Will I have more luck if I switch over to the old company?

Yeah, old company is seeing more sales (and no payout lag), but their card restrictions are higher (30k minimum limits, 5 years old).

If your cards fit, I tend to recommend people go there. If your cards don't, better to use new company and get occasional sales than a riskier company, IMO, but YMMV.

I don't have any cards that qualify for that.  Did too many mustachians flood the market?  Or is there something else going on causing a drought? Or am I just on the unlucky end of the sales spectrum? Or did I get black balled or something? I was late to the game, but I feel like I sold a decent amount in 2018 right up until about august, and since then I had just a single $50 sale on one card in early 2019. 

[chuckster]

For sure, my older, larger CC accounts which you would think would be more attractive (5+ yrs old, high limits) rarely sell if at all.

The newer accounts that barely seem worth getting AU status on (1-2 yrs old, low limits) at least sell occasionally.

[FrugalZony]

I haven't had any sales this year either, which is ok.
I only have a couple cards that qualify and they do have a limited number of spots.
I rather get one occasionally and stay under the radar, then using up my spots quickly and raising red flags.

[Padonak]

Can a BBVA credit card be used for tradelines with any of the companies?

[flashflooder]

Why does the new company send rules out about prompt replies but they don't show the same courtesy when it comes to payment?  I bet if I would never say anything I would never get paid.  I don't think I have got a payment yet without me pestering them.  Orders from March and June.

To be fair, I've found the side of the house that sends out these emails (and handles all the admin stuff) to be very responsive.  It's just the payment side that lags.  It would be nice if they could just automate it.

[Car Jack]

Can a BBVA credit card be used for tradelines with any of the companies?

I have one with the old company.  It was one that I shotgunned when they were looking for new, low limit cards for 2 month, $25 slots.  I think both companies change what they'll take on an almost daily basis.  It's worth shooting them the specs on the card (age and limit).  I get 2 AUs on that card every period.

[frugalnacho]

I have only had a single $50 sale in the last year with the new company.  Did this completely dry up for anyone else? Will I have more luck if I switch over to the old company?

Yeah, old company is seeing more sales (and no payout lag), but their card restrictions are higher (30k minimum limits, 5 years old).

If your cards fit, I tend to recommend people go there. If your cards don't, better to use new company and get occasional sales than a riskier company, IMO, but YMMV.

I don't have any cards that qualify for that.  Did too many mustachians flood the market?  Or is there something else going on causing a drought? Or am I just on the unlucky end of the sales spectrum? Or did I get black balled or something? I was late to the game, but I feel like I sold a decent amount in 2018 right up until about august, and since then I had just a single $50 sale on one card in early 2019.

Ha 2 days later and I just got a sale.  Maybe they read the thread.

[N]

I just got a request to add an AU. Capitol One is asking me for the persons phone number, which the tradeline company didnt supply. Do I just use mine?

[chuckster]

I just got a request to add an AU. Capitol One is asking me for the persons phone number, which the tradeline company didnt supply. Do I just use mine?

No, make one up. Would be helpful if it is in the right area code as their address.

[arebelspy]

I always use my number when I have to give a phone number (as with Capital One).

There's no need for it (it doesn't report to the credit bureaus, so it's not helpful for having the TL report), so I'd rather have my number on there, for security purposes and if they call it, I want to be the one answering.

[MasterStache]

I always use my number when I have to give a phone number (as with Capital One).

There's no need for it (it doesn't report to the credit bureaus, so it's not helpful for having the TL report), so I'd rather have my number on there, for security purposes and if they call it, I want to be the one answering.

+1

Got 2 AU adds today for Capital One. Since it's my spouse's card, I just use her old phone number.

[ncexpress]

I'm new here and I know this thread has been going on for 3 years about these two tradeline companies that pay card holders, but has anyone sold directly to buyers? If so, what's been your experience?

[secondcor521]

I'm new here and I know this thread has been going on for 3 years about these two tradeline companies that pay card holders, but has anyone sold directly to buyers? If so, what's been your experience?

Yes.  Twice.  Both times to members on this board.

You can charge more, because the tradeline company is not taking a cut.

You take on the risk of evaluating the person to see if you're comfortable with adding them as an AU.  You have to manage the timing of the adding and deleting.  You have to communicate terms of the agreement with them, and possibly negotiate or explain the process.  You have to decide how to answer their questions about whether it works, and any other questions they may have.  You have to work out a payment method and you have to ask them for personal information such as name, address, DOB, SSN.  They may not like doing that.

If you're simultaneously selling lines to individuals directly and through a tradeline company, you have to coordinate blocking out a spot with the tradeline company so you can add your private sale; the timing of this may make you lose sales with the tradeline company.  The tradeline company could be bothered by what you're doing, because they could view it as increasing the risk of card shutdowns that you may blame them for, or they may just not like the hassle of blocking slots.

My experience was that the tradeline companies were professional and courteous.  While I didn't explain exactly what I was doing, they weren't born yesterday so I'm sure they knew.  It doesn't seem to have bothered them.

The individuals I worked with were both good and it went smoothly both times.  Both situations worked out somewhat differently and were somewhat better or worse in various respects.  Out of respect for them, since they may still be members and may still be reading this thread, I probably won't comment more specifically than that.

I would probably do it again if the opportunity arose, but probably only to someone I at least sort of know.  I probably wouldn't add a random person without some sort of connection (like this board, or a friend) or via the tradeline company.

[DavidAnnArbor]

Does anyone know what the tax implications are of winning a settlement from Discover for card closure?

Is this settlement considered taxable income?  Is the portion that the lawyer receives from the settlement also taxed? 

Does anyone know if this settlement is considered business income (Schedule C) because it's the result of actions related to the tradeline sales?

[anonymouscow]

I tried to search the thread and can't seem to find the info although I know it's probably in there...

Does anyone know for Barclays what kind of error message you receive when you hit the max lifetime AUs allowed?

It looks like I have had 33 AUs, trying to add #34 and I am getting an error. I sent a message through the message center, they replied saying I have to call. I still have AUs on the card, but don't really want to call and draw attention to the fact I have had so many AUs.

Thanks!

[secondcor521]

I tried to search the thread and can't seem to find the info although I know it's probably in there...

Does anyone know for Barclays what kind of error message you receive when you hit the max lifetime AUs allowed?

It looks like I have had 33 AUs, trying to add #34 and I am getting an error. I sent a message through the message center, they replied saying I have to call. I still have AUs on the card, but don't really want to call and draw attention to the fact I have had so many AUs.

Thanks!

I don't think it was mentioned explicity in this thread, but I do think the total number of AU's max lifetime was around that 33 number (34 or 35 is what I recall).  If you're getting a strange error and had that many AU's, I would personally just assume that's the problem and not bother calling.

Your card is probably dead for piggybacking at this point.  Personally I'd just let your last set of AU's finish out and then move on.

[katsiki]

Agree with @secondcor521

I forget the error message but you are around the #, so that is likely it.

I can tell you that the rep(s) I spoke with when I hit the limit were great.  No issues but again I wouldn't bother calling.

You could wait a day and try again to be sure.  Also try a different browser.

[DanTheYogi]

Hello Everyone

I first discovered this thread back in February 2018 (a few months after discovering MMM and the FI movement).  I had never opened a credit card before, and immediately realized between selling tradelines and all the cash back and travel rewards, I was missing out big time. So I immediately opened the Chase Freedom Unlimited and the Discover It cards.

Fast forward ~1.5 years to today. I didn't take advantage of credit card rewards as best as I could have - I didn't open another card til this past summer (Chase Sapphire Preferred - I just recently hit the $4000 mark for the 60,000 point bonus). However part of that was because I was leaving an old job at the time with nothing else lined up and being extremely conservative with my spending. I just got a new job, living in a new city, and can be more aggressive chasing rewards now (along with hopefully opening tradelines later on down the line as I have more cards open in the future).

So here's my situation:

Credit Score: According to credit Karma, between 750-755

Freedom Unlimited: 1.5 years, $11,600 limit
Discover It: 1.5 years, $11,000 limit (I literally never actually used this card until earlier today)
Sapphire Preferred: 3 months, $5,600 limit
Capital One Quicksilver: opened today, $8,000 limit

Income: $91,000 gross including bonuses

Primary financial goal: pay off student debt (approximately $77K at the moment)

Something I'm wondering: how on earth do people get such high credit limits? I saw the table on the first page - where cards with limits of over $50K get $300 per line or something like that. How do you even go about getting a limit that high? I just called Chase and Discover to try and increase my limits (the Discover call was funny - "Oh, you've never used your card... well we can check and see if we can raise your limit"). Discover wouldn't raise it; Chase raised my Freedom card by about $3K. Now that I'm done with the Preferred sign-on bonus, I could also transfer some of that limit to the Freedom card to get it over $15K. I'm curious, does my high student loan balance prevent me from significantly increasing my credit limits? I figured with my decent salary and credit score, I could get some bigger bumps than $3K, at least for Chase (not so surprised on the Discover card considering it had never been used).

Otherwise, I figure I can start using my Discover and Freedom Unlimited cards to sell tradelines. I know it wouldn't be much, but even an extra 200-300 every 2-3 months would get me that much closer to paying off my debt. Also, I opened the quicksilver as my new "everyday" cash back card so I wouldn't be worried about my Chase card getting closed in a worst case scenario. I also plan on opening more cards from here on out as I meet the sign-on bonuses (of course, this is all within the realms of my planned spending - I won't be buying things just to get CC bonuses).

Any "flaws" in my plan moving forward? Is there any reason for me to wait until I have higher limits/older accounts? Also, any thoughts/comments on cc limits are welcome. Otherwise, I'll be pm'ing arebelspy later for more info on tradeline companies.

[secondcor521]

[...]

Something I'm wondering: how on earth do people get such high credit limits?

[...]

I'm curious, does my high student loan balance prevent me from significantly increasing my credit limits?

[...]

Any "flaws" in my plan moving forward? Is there any reason for me to wait until I have higher limits/older accounts? Also, any thoughts/comments on cc limits are welcome. Otherwise, I'll be pm'ing arebelspy later for more info on tradeline companies.

I have several high limit cards, so I'll give you my opinion.  Having a long, broad, and flawless credit history probably helps.  My credit history goes back to 1973.  I've had close to 80 credit cards over my lifetime so far.  I've had multiple mortgages, credit cards, and student loans.  All were paid on time, as agreed, every month, without fail.

Having a high income helps.  They want to see you have the means to pay them back.  It's hard (but not impossible) to get a CL above maybe 1/2 of your income.  Ask them how they define household income; maybe you can report a higher income than what you think.

Combining CLs can help.  If you get two $15K cards at the same CC company - Chase for example - you can often combine them into a single $30K card.

Getting a single high line at one CC company sometimes seems to enable you to get higher lines with other CC companies.

Consistently and regularly asking for higher limits can work, especially when using the card or if you have high expenses coming up that you want to put on the card.

Sometimes there are glitches in the matrix which allow you to get higher limits.  These are rare.

...

Your high student loans don't help.  Put yourself in the CC companies' shoes - do you want to risk giving a person with a big student loan a CC with a $60K limit?  Probably not.  The person might charge their entire student loan to their credit card, then default on the credit card.  They might get into deep CC debt and not be able to make their CC and SL payments, so they focus on the SL payments since that can't be discharged.  No thanks.

(Not saying you would, but CLs are all about risk management.  The risks are there.)

...

I don't see any flaws, but I didn't read that carefully.  You can always list your cards for sale with the AU companies and try it out.  As your cards get older and your limits grow you just let the AU companies know and they'll pay you the higher commissions.

Good luck.

[Car Jack]

Short answer:  At 1.5 years old for a cc, nobody wants those cards.  2 years minimum.  A bit over a year ago, the old company did have a call for "new", "low limit" cards, which us churners jumped on.  I've got 4 cards in there.  They get tied up for only 2 months for $25 a sale, but I've sold out all 4 cards every month.  They no longer want these.

The tradeline companies change what they want based on what the demand is.  While there was that call for new, low limit cards, I think they're now in high years (I've heard 5) and high limits (I've heard $30k), but who knows.

They also sometimes are looking for things you'd never think of.  I contacted the new company to drop my cards down a notch in hopes to get some sales.  They said to change all 4 of my cards to have the same closing date.  I'm not sure why...something about being able to sell multiple cards as if it were a single higher limit one.  I did get some sales after that, but not many.

It's all YMMV in this game.  It can change daily.  Don't forget to send in estimated tax payments because when you do get sales, you can expect a nice 1099 at the end of the year.

[topshot]

I personally wouldn't sell TL on Chase either. I'm not sure if it has been said that it results in a "blacklist" per se, but they will close ALL Chase CC accounts you have open at the time if they close one for TL. It's unknown (to me at least) if you can ever open another one with Chase.

[secondcor521]

I personally wouldn't sell TL on Chase either. I'm not sure if it has been said that it results in a "blacklist" per se, but they will close ALL Chase CC accounts you have open at the time if they close one for TL. It's unknown (to me at least) if you can ever open another one with Chase.

This was explicitly mentioned in the first post of this thread.

[ilsy]

Having a high income helps.  They want to see you have the means to pay them back.  It's hard (but not impossible) to get a CL above maybe 1/2 of your income.  Ask them how they define household income; maybe you can report a higher income than what you think.


Sometimes there are glitches in the matrix which allow you to get higher limits.  These are rare.

My overall CL is 5 times higher than my income, but somewhere on the forum I've read that someone had CL 8 times more than their income. So, I have ways to go. I report my actual income, haven't tried to impose I make more to get a higher CL. I just keep asking for an increase every 6 months every card I own. Some (BOA) do report to credit companies, so I only ask them once a year. I found out that some companies that notoriously refused to increase my credit limit, eventually gave up (after 3 years of trying) and increased, I guess their policies have changed (my income or debt hasn't changed so much, no.... actually my debt increased, income hasn't changed).

[secondcor521]

Having a high income helps.  They want to see you have the means to pay them back.  It's hard (but not impossible) to get a CL above maybe 1/2 of your income.  Ask them how they define household income; maybe you can report a higher income than what you think.


Sometimes there are glitches in the matrix which allow you to get higher limits.  These are rare.

My overall CL is 5 times higher than my income, but somewhere on the forum I've read that someone had CL 8 times more than their income. So, I have ways to go. I report my actual income, haven't tried to impose I make more to get a higher CL. I just keep asking for an increase every 6 months every card I own. Some (BOA) do report to credit companies, so I only ask them once a year. I found out that some companies that notoriously refused to increase my credit limit, eventually gave up (after 3 years of trying) and increased, I guess their policies have changed (my income or debt hasn't changed so much, no.... actually my debt increased, income hasn't changed).

In the portion of my comment that you bolded, I was referring to individual CLs, not overall CLs.

My overall CL is about 9x my reported income.  My largest CL is 1.2x my reported income, but my reported income has dropped since I FIREd.

[arebelspy]

There shouldn't be a risk of shutdown for adding a personal friend as an AU.

Go on Discover.com, go to add authorized user in the card options, and you'll see the info you need (address, dob, etc.)

[arebelspy]

- After your next statement close. You may need a balance for it to report.
- Nothing.
- Yours might show up on hers.
- No.

Feel free to PM me if you have other questions, to not clutter the thread. :)

Cheers!

[FrugalZony]

I have received my first two adds to my Barclay this year (last adds were at the end of 2018).
I added them online and then as previously called to add the SSN (I was planning on making two calls, one for each, to add their SSN).

When I called in the SSN the rep asked me a bunch more questions as previously.
They also said, because the person is already on the account, they cannot add the SSN now.
I would have to call in the entire info and at that point, they'll add that SSN, but now as the person is on the account,
they only way to add an SSN is to request it by regular mail or fax.

That is new?
ANyone have this happen before?

I know @arebelspy never adds the SSN, but I have tried that in the past and in the two instances I tried, both did not report.
So I don't want to "waste" my Barclay spots, as those are limited.

Any insight?

[secondcor521]

@FrugalZony, the "How to add an AU" document from Old Company says to add Barclays online and you only need to provide name, DOB, and address (so, not the SSN).  My MO is to add the way the AU company says to add; I've only ever had one not report, and that was a very last-minute USBank one and the AU company said that wasn't my fault.  So my suggestion is to add it the way the AU company recommends adding, and make sure you have a balance owing, and beyond that it just doesn't work sometimes (rarely).

...

Coincidentally, I have a Barclays question.

My Barclays is on a fraud hold, I think because I had 3 AU's on at once.  Those 3 AU's are due to come off now, so I'm going to call in to ask them to remove the three AU's and take my card off fraud hold.

(If your Barclays card is on fraud hold, you can't make charges and you can't log in online.  It's basically locked down, although the card and line are still considered open, not closed.)

They did this to me before, and the fraud specialist I spoke with was very mean to me and was asking very accusatory sounding questions - so much so I hung up on him.  Later I called and spoke with someone else and they were able to do what I asked with no problem.

So I'm wondering what is typical.  If you've had experiences calling Barclays in these types of scenarios, I would appreciate data points.  I did ask the AU company and they gave me names and birthdates and addresses for the current 3 AUs I have on there, but not for the ones before that (this Barclays card seems to be a good seller, not sure why).

[arebelspy]

Unfortunately I've never had to call Barclays about AUs, I've always done adds and removes online, never had any issues, and they've always posted.

Sorry I couldn't be more helpful!

[Car Jack]

My Barclays is on a fraud hold, I think because I had 3 AU's on at once.  Those 3 AU's are due to come off now, so I'm going to call in to ask them to remove the three AU's and take my card off fraud hold.

I expect there's something else.  My Barclays card is one of the low limit ones the old company took on a year ago and I get 2 AUs added every 2 months.  I always leave the old AUs in place for at least a couple days past the "remove" date because I don't want to remove anything too early.  During that time, I always have 4 AUs on it.  I've never had an issue with Barclays.

[MoneyTree]

has anyone here had experience with Citi cards and whether or not you have to call in the SSN?

It was not required in order to add the AU (actually there was no way to add it online, in fact), but the instructions from the tradeline company say to make sure to add the SSN.

The Citi chat rep says I'd have to call the fraud department to add the SSN, and that seems like it would arouse suspicion.

[BikeFanatic]

You could try secure message. Log in to Citibank website and there is a secure message link. I do this with another card not Citibank. 

[Dirigo]

has anyone here had experience with Citi cards and whether or not you have to call in the SSN?

It was not required in order to add the AU (actually there was no way to add it online, in fact), but the instructions from the tradeline company say to make sure to add the SSN.

The Citi chat rep says I'd have to call the fraud department to add the SSN, and that seems like it would arouse suspicion.

Yes, you have to call Citi in order to add the SSN. If you don't, the AU won't post properly and you won't get credit/paid for it. I did this a couple times when just starting out and just chalked it up to a learning experience.

[Spitfire]

Citi does require a call in and they connected me to the fraud department many times for adding the SSN and sending the card out with no problems.

That same card did just cancel my account though (after a couple years of doing tradelines).

"Your account has been closed because you recently added and/or deleted an excessive number of authorized users on one or more of your Citi accounts."

Oh well, good while it lasted and not an account I particularly needed (though it was pretty old). I didn't read through the whole thread, but has anyone ever called in and fought the closure with success?

[shingy]

Citi does require a call in and they connected me to the fraud department many times for adding the SSN and sending the card out with no problems.

That same card did just cancel my account though (after a couple years of doing tradelines).

"Your account has been closed because you recently added and/or deleted an excessive number of authorized users on one or more of your Citi accounts."

Oh well, good while it lasted and not an account I particularly needed (though it was pretty old). I didn't read through the whole thread, but has anyone ever called in and fought the closure with success?

Sorry to hear about the closure. Out of curiousity, how many AUs did you add and over what period of time?

[MasterStache]

has anyone here had experience with Citi cards and whether or not you have to call in the SSN?

It was not required in order to add the AU (actually there was no way to add it online, in fact), but the instructions from the tradeline company say to make sure to add the SSN.

The Citi chat rep says I'd have to call the fraud department to add the SSN, and that seems like it would arouse suspicion.

I haven't had any Citi AU adds in a few months but I typically add as much info as possible online, then call Citi and let them know I need to add the Social for the AU. It was pretty seamless. Citi is the only card I have had trouble with AUs posting even following everything to a T.