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Paypal Credit Question

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takeshi74
Senior Contributor

Re: Paypal Credit Question


@DaveInAZ wrote:

And they don't report CLs (or anything else) to the CRAs - but I'll bet if I were ever late on a payment they'd report pretty darn fast.


Of course they would.  The upside of not reporting CLI's or balances is that is has no impact on utilization.

Message 21 of 26
Anonymous
Not applicable

Re: Paypal Credit Question


@DaveInAZ wrote:

@chalupaman wrote:

@Anonymous wrote:

@chalupaman wrote:

@Anonymous wrote:

What does it say your credit line is on your PayPal credit page?  Should be a line item for that.


I'm seeing the purchase as pending with the promo there. 0 in terms of available credit at the top. Credit line still says $501. Got an email with my receipt for the purchase too.


Maybe it takes time to update.  If they didn't take money from your secondary account, it's probably approved and your CL will rise as well.


The company I sent the payment to did indeed receive it and it was taken out of my Paypal Credit solely. No other cards either.


I called them once to ask for a CLI, I had a $1500 CL and wanted to buy something for $2k. Rep said they didn't raise credit limits "like that", try to make the purchase and if it's approved I got the CLI. So, I did. Purchase was declined and I got a inquiry on my CR. Smiley Frustrated

 

So, I decided I'll never try to get a CLI "like that" again. Now it shows me with a $2250 CL. but I don't use it much anymore, I'd rather have the 1% cash back from rewards cards.And they don't report CLs (or anything else) to the CRAs - but I'll bet if I were ever late on a payment they'd report pretty darn fast.


I love the fact that they don't report to CRAs. I can use this account without being concerned about my utilization. The only thing I don't like is that you have to spend money in order to obtain a higher CL. And you don't know until after you hit the purchase button if your CL will be increased. I also like that I can send money to friends or myself.

Message 22 of 26
Goos
Regular Contributor

Re: Paypal Credit Question

I know this is a bit old but . I just had this happen to me , I have a tracking number and everything. So did you item ever show up ? Or did it eventually cancel . Or did they put it through and just not raise your limit ?
Message 23 of 26
CreditCuriosity
Moderator Emeritus

Re: Paypal Credit Question


@Goos wrote:
I know this is a bit old but . I just had this happen to me , I have a tracking number and everything. So did you item ever show up ? Or did it eventually cancel . Or did they put it through and just not raise your limit ?

If you got a tracking # and show 0 credit available it went through and will see the new balance in a few days.

Message 24 of 26
Kidcat
Established Contributor

Re: Paypal Credit Question

Be careful.  I had this happen to me, and a FEW DAYS later they took the money out of my secondary pay account.  So even though it initially went through pending as Paypal credit, they took the money from my checking account.  Luckily it was an account that's not my primary.  But in my case it  was a significant purchase.  I could either return it or let it happen as it did.  They admitted that it definitely a glitch in the system.

 

So just keep an eye on your back up payment account.




Last app 09/21/2021. Gardening Goal Oct 2023
Message 25 of 26
Goos
Regular Contributor

Re: Paypal Credit Question

I was worried about that and my pay pal credit is attached to my secondary pay pal as smart connect is attached to my primary. So I went in before and removed my visa from the pay pal account and never had a checking account attached to it . So it sounds like it went through and my limit is increased or this is just a one time deal?
Message 26 of 26
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