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Paypal Credit Question

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chalupaman
Super Contributor

Re: Paypal Credit Question

Update:

 

Even though the purchase did go through, the CLI was denied due to this reason:

 

"We did not have enough information about your credit history at the time of purchase."

 

I really have no idea if they would have done a HP there or not.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 11 of 26
Anonymous
Not applicable

Re: Paypal Credit Question


@chalupaman wrote:

Update:

 

Even though the purchase did go through, the CLI was denied due to this reason:

 

"We did not have enough information about your credit history at the time of purchase."

 

I really have no idea if they would have done a HP there or not.


I've tried to go over my limit twice since Ive had PayPal credit and the only hard pull I ever had was the original one when I got the account. They softed on Equifax the other times. The guy that said he got hp'd is either mistaken and he's seeing the original pull, because there should be two pulls if he got pulled, or he just got screwed. It says right in the t/c that cli's are soft pulls and don't affect your score and that they only do a hp when they open your account. Now, I know that a lot of times we're told its a soft and then we find out its a hard but I tried it twice and they were softs just like the t/c said. I'm perplexed about why they approved the charge for you, though. Was it just a little bit over the limit?

Message 12 of 26
DaveInAZ
Senior Contributor

Re: Paypal Credit Question


@Anonymous wrote:

@chalupaman wrote:

Update:

 

Even though the purchase did go through, the CLI was denied due to this reason:

 

"We did not have enough information about your credit history at the time of purchase."

 

I really have no idea if they would have done a HP there or not.


I've tried to go over my limit twice since Ive had PayPal credit and the only hard pull I ever had was the original one when I got the account. They softed on Equifax the other times. The guy that said he got hp'd is either mistaken and he's seeing the original pull, because there should be two pulls if he got pulled, or he just got screwed. It says right in the t/c that cli's are soft pulls and don't affect your score and that they only do a hp when they open your account. Now, I know that a lot of times we're told its a soft and then we find out its a hard but I tried it twice and they were softs just like the t/c said. I'm perplexed about why they approved the charge for you, though. Was it just a little bit over the limit?


I'm the guy and no, I'm not mistaken - I didn't know it was there until Credit Karma started reporting and saw there are 2 add'ld inquires on EQ. I opened the account in 2008, and the inquiry is Oct. 2 2013. The inquiry is listed as "CCB/BML". I didn't know what that was and Googled, it's Commenity Bank/BillMeLater. There also a lot of hits with complaints of an inquiry from CCB/BML suddenly appearing on their CRs. You might want to re-check those PayPal Credit T/C, because right at the top it says:

 

By using PayPal Credit to complete a purchase, you apply for credit . . . .and authorize the Lender to review your credit report

https://www.paypal.com/us/webapps/mpp/bmlterms

 

I keep my finances in Quicken, so I checked my PP Credit transactions. Summer of 2013 I'd just made a few purchases of $10-20 on eBay, Blu-ray DVDs. Oct. 2 I purchased 2 tires off eBay for $220. So I'll bet that's what it is - low usage and then a sudden large purchase & they check your credit. But a SP should give them all the info they need. Goggle "CCB/BML" and you'll see a ton of complaints about sudden HPs from them appearing on CRs. I like PP Credit as I don't keep any $$$ in my PP acount and it's pain have a bunch of little debits to my bank account, but as I've only been charged $15 every couple of months for internet phone service I'm going to be careful about using it for any large purchases.

Message 13 of 26
chalupaman
Super Contributor

Re: Paypal Credit Question


@Anonymous wrote:

@chalupaman wrote:

Update:

 

Even though the purchase did go through, the CLI was denied due to this reason:

 

"We did not have enough information about your credit history at the time of purchase."

 

I really have no idea if they would have done a HP there or not.


I've tried to go over my limit twice since Ive had PayPal credit and the only hard pull I ever had was the original one when I got the account. They softed on Equifax the other times. The guy that said he got hp'd is either mistaken and he's seeing the original pull, because there should be two pulls if he got pulled, or he just got screwed. It says right in the t/c that cli's are soft pulls and don't affect your score and that they only do a hp when they open your account. Now, I know that a lot of times we're told its a soft and then we find out its a hard but I tried it twice and they were softs just like the t/c said. I'm perplexed about why they approved the charge for you, though. Was it just a little bit over the limit?


It was a $399 charge and had a balance on the account already so it ended up being a negative $150 approximiately in terms of credit. 

 

Planning to unfreeze EQ soon and will try making small purchase to see if they'll do a soft then.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 14 of 26
IslandSoul
Established Member

Re: Paypal Credit Question

I have paypal credit also for about 7 months. i tried to get a cLI of about $50 this past weekend. It declined for the same reason. You will see the charge pending until its dropped. Just like with cc charges pend before becoming final.
Message 15 of 26
Anonymous
Not applicable

Re: Paypal Credit Question


@DaveInAZ wrote:

@Anonymous wrote:

@chalupaman wrote:

Update:

 

Even though the purchase did go through, the CLI was denied due to this reason:

 

"We did not have enough information about your credit history at the time of purchase."

 

I really have no idea if they would have done a HP there or not.


I've tried to go over my limit twice since Ive had PayPal credit and the only hard pull I ever had was the original one when I got the account. They softed on Equifax the other times. The guy that said he got hp'd is either mistaken and he's seeing the original pull, because there should be two pulls if he got pulled, or he just got screwed. It says right in the t/c that cli's are soft pulls and don't affect your score and that they only do a hp when they open your account. Now, I know that a lot of times we're told its a soft and then we find out its a hard but I tried it twice and they were softs just like the t/c said. I'm perplexed about why they approved the charge for you, though. Was it just a little bit over the limit?


I'm the guy and no, I'm not mistaken - I didn't know it was there until Credit Karma started reporting and saw there are 2 add'ld inquires on EQ. I opened the account in 2008, and the inquiry is Oct. 2 2013. The inquiry is listed as "CCB/BML". I didn't know what that was and Googled, it's Commenity Bank/BillMeLater. There also a lot of hits with complaints of an inquiry from CCB/BML suddenly appearing on their CRs. You might want to re-check those PayPal Credit T/C, because right at the top it says:

 

By using PayPal Credit to complete a purchase, you apply for credit . . . .and authorize the Lender to review your credit report

https://www.paypal.com/us/webapps/mpp/bmlterms

 

I keep my finances in Quicken, so I checked my PP Credit transactions. Summer of 2013 I'd just made a few purchases of $10-20 on eBay, Blu-ray DVDs. Oct. 2 I purchased 2 tires off eBay for $220. So I'll bet that's what it is - low usage and then a sudden large purchase & they check your credit. But a SP should give them all the info they need. Goggle "CCB/BML" and you'll see a ton of complaints about sudden HPs from them appearing on CRs. I like PP Credit as I don't keep any $$$ in my PP acount and it's pain have a bunch of little debits to my bank account, but as I've only been charged $15 every couple of months for internet phone service I'm going to be careful about using it for any large purchases.


This is from the PayPal website after a 2 second search. 

 

Once you’ve been approved for an account, Comenity Capital Bank will open a PayPal Credit account with a credit line equal to the amount of your purchase or $250, whichever is greater.
If you check out with PayPal Credit and you don’t have enough available credit to cover your purchase, your account is instantly reviewed to see if you qualify for an increase. And if it can’t be done, we’ll send you an email to tell you why.
This will happen automatically during checkout, and it won’t slow you down. It also won’t affect your credit report, and there are no fees or penalties for trying!

 

Ive read a lot more about it, similar terminology, but I'm not going to spend time going to find it. The bottom line is that it's supposed to be a soft pull and generally it is. Does the accidental hard pull get done, or a hard pull because somebody hasn't used the account in a long time (not referring to you) or for other reasons? Of course. That's why I clearly said you were either mistaken "or got screwed" so I wouldn't offend you.  All creditors have the right to pull your credit if they deem it necessary and we  all suffer a HP occasionally when we thought it would be (or were promised it would be) a soft but that's not the norm with this account. By the way,  are you sure you didn't apply for any of their preferred accounts? If you applied for any of their preferred accounts back then (new egg, HP, etc.) the HP would show up the same CCB/BML. After all it was almost a year and a half ago.

Message 16 of 26
Mickeedee
New Member

Re: Paypal Credit Question

My PayPal Credit is now with Synchrony Bank and they changed the terms:

 

Credit Limit. You will be assigned a credit limit that we may increase or decrease from time to time. If we approve a purchase that makes you go over your credit limit, we do not give up any rights under this Agreement and we do not treat it as an increase in your credit limit.

 

 

Message 17 of 26
chalupaman
Super Contributor

Re: Paypal Credit Question


@Mickeedee wrote:

My PayPal Credit is now with Synchrony Bank and they changed the terms:

 

Credit Limit. You will be assigned a credit limit that we may increase or decrease from time to time. If we approve a purchase that makes you go over your credit limit, we do not give up any rights under this Agreement and we do not treat it as an increase in your credit limit.

 

 


You're probably thinking of Smart Connect or Paypal Extras. Those are backed by Sync.

 

The CL I'm talking about is backed my Comenity and used to be called BillMeLater.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 18 of 26
TRC_WA
Senior Contributor

Re: Paypal Credit Question


@chalupaman wrote:

I recently made a purchase above my credit line and there's now a negative available credit there but the purchase says completed (also says that I got the 6 months promo on it too) on my Paypal Credit page and pending on the page where I can see my payment due and everything. I just wanna be 100% sure that this could possibly mean that I did in fact get a CLI to cover the purchase. Tried calling customer service about it but they were a little bit more vague about what this means and all.


I'm pretty sure you did...

 

My CL was $2500 and I made a purchase to push it it to $3300.  It was approved but I didn't see the $3300 listed under my CL for about 5 days...

 

Edit:

 

Just saw your post at the top of the page... 

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 19 of 26
Anonymous
Not applicable

Re: Paypal Credit Question


@Anonymous wrote:

@chalupaman wrote:

Update:

 

Even though the purchase did go through, the CLI was denied due to this reason:

 

"We did not have enough information about your credit history at the time of purchase."

 

I really have no idea if they would have done a HP there or not.


I've tried to go over my limit twice since Ive had PayPal credit and the only hard pull I ever had was the original one when I got the account. They softed on Equifax the other times. The guy that said he got hp'd is either mistaken and he's seeing the original pull, because there should be two pulls if he got pulled, or he just got screwed. It says right in the t/c that cli's are soft pulls and don't affect your score and that they only do a hp when they open your account. Now, I know that a lot of times we're told its a soft and then we find out its a hard but I tried it twice and they were softs just like the t/c said. I'm perplexed about why they approved the charge for you, though. Was it just a little bit over the limit?


Thank you for the information!!

Message 20 of 26
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