PayPal Buyer Credit...Does it count as a store card?

[jaysdad2k]

I got PayPal Buyer Credit in May 2007 when they wouldn't give me PayPal MC. My FICO was probably low 600's at the time. The initial CL was $300. They raised it to $425 via luv button last July, I think. Then in October they went to $550.

I've obtained 4 new CC's in 2008: April, May, June, and October. I was thinking of going for Macy's as a store card, but Creditkeeper says another app and my FAKO would tank 23 points.

So, do I already have a "store card"?

[llecs]

How does the PayPal read in your FICO report? Charge? Revolving?

And did you get any new charge cards with the new 4 you added?

Adding any new card, assuming util and mix of credit is in check, will drop your score 20-25 pts, with a return of those post over the next few months. So, adding a Macys will drop your score.

However, ignore and FAKOs and advice.

[clocktick]

I have the Paypal Buyer Credit card as well as the Paypal CC.  The Buyer Credit was never reported on my CRs (and I've had it for years).  You stated you have a limit.  I guess I don't understand as I thought the Buyer Credit was to specifically spend or "charge" what you have in your Paypal account, in other words, that amount is your limit.  So this limit works like a CC regardless of what's in your Paypal account?

[Anonymous]

Paypal CC is nothing more than a debit card.

[score_building]

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@Anonymous wrote:
Paypal CC is nothing more than a debit card.

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not so - Paypal CC is a credit card and lists as a revolving account on a cbr.

[jaysdad2k]

PayPal issues a debit card for spending the money in one's PayPal account. But, Buyer Credit allows one to buy now and pay later, at 20% if you carry a balance!

Since it does not have a Visa, MC, etc., logo, I wondered if it counts as a store card.

I think one CRA maybe EQ show it as an overdraft/LOC account.

[score_building]

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@jaysdad2k wrote:

PayPal issues a debit card for spending the money in one's PayPal account. But, Buyer Credit allows one to buy now and pay later, at 20% if you carry a balance!

Since it does not have a Visa, MC, etc., logo, I wondered if it counts as a store card.

I think one CRA maybe EQ show it as an overdraft/LOC account.

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1.  right they issue a debit card which is different than the paypal cc.

2. to count as a store card i think it would be showing as a 'revolving' acct., sounds like it's counted as an loc not a store card, perhaps others can confirm.

Message Edited by score_building on 12-30-2008 12:24 PM

[Changingmantra]

I have had this account for months and it reports to all CBs the same way as all of my other GEMB accounts: GEMB/PPBuyers Credit and as a revoloving account.

[wmarat]

My PP Buyers Credit used to be reported as LOC, but they changed it 3 months ago and report it as Credit Card.

BTW, disregard creditkeeper and FAKO scores.

[jaysdad2k]

I just checked, and they all report it as CC. I thought I had seen LOC before, so that explains it.

OK, so then since it reports as a credit card- revolving, but without Visa or MC logo does it count as a store card like Macy's, etc?

Therefore, my credit mix will not be improved by adding a store card if the PayPal Buyer Credit already fills that category.