Paypal Credit Surprise

[Anonymous]

This happened two weeks ago and I was so surprised and unsure over this new (to me) system of credit that I just sat with it and investigated. I was approved for SL of $2000. I'm a re-builder who is so used to getting a 'no' that I almost fell out of my chair! Virtual credit that is accepted at a lot of online stores. I finally bought a new mattress that I have wanted and needed for awhile now. 6 months with 0% and I am sleeping great! This is such a great line of credit to have for an emergency large purchase, like a broken washing machine, etc. Also great for emergency, or any, travel, since it can be used for airlines and rental cars bought online. This is my biggest success yet on my re-building journey.

[Anonymous]

Congrats on your approval! I was approved for PayPal Credit a few weeks back with a $5000 SL and while my FICO Scores are comfortably in the middle 700s, my credit file is new and pretty thin, so they gave me by far my best SL when others were denying me outright or offering me $1000 SLs. So PayPal must be pretty generous with their limits.

I've heard though that they only way to get an increase with it is to purchase beyond your current limit and see if they'll approve it. And don't get too comfortable with the hidden trade line aspect of it either because Synchrony Bank is scheduled to take it over toward the end of 2018 and I wouldn't be at all surprised to see it start reporting when that happens. I'm loving my account also and I've discovered that it has way more use and versatility than I originally thought.

[Anonymous]

Also forgot to add in case you weren't already aware and since you mentioned that you were rebuilding- PayPal Credit doesn't report to any of the bureaus, so it's useless for rebuilding purposes

[AverageJoesCredit]

Nice job, i could only wish to have gotten 2k from PPC rebuilding. Please be aware that this account may eventually become a reporting account as Synchrony is about to pick up this card from Comenity. Not certain but i wouldt run up the bill and be caught with my pants down lol

[Anonymous]

I am incredibly careful with this new credit. I'm too old to ever have to do another re-build. I have a very good 2 year history with some Comenity store cards, so that probably helped. I budgeted for the 6 month repay before I even bought the mattress. And I'm wearing suspenders Anyway, god bless Elon Musk.

[Anonymous]

My score is in the 680's, so I was surprised. Sorry to hear that news about Synchrony. After reading through the forum, that bank makes me very nervous. 

[Anonymous]

Nice surprise indeed!

[AverageJoesCredit]

Sync can make many nervous but just do what i do when deal with my Sync accounts, pif and make timely payments and you should be ok

[Anonymous]

Congrats on your great approval from PPC!  As long as you use it responsibly, they will give auto CLIs and treat you right.

[Anonymous]

Interesting news about Synchrony. Yuck is all I have to say. I love having the hidden tradeline. Thanks for the info and congrats to you, OP.