topic Re: PayPal Credit data point in Credit Card Approvals

PayPal Credit data point

Anonymous — Fri, 09 Mar 2018 06:36:36 GMT

Recently applied for a PayPal Credit account, having 719 Experian FICO and 16% UTI.

Approved for $3250 SL.

Initially ran $2,000 through it. Then attempted to grow the credit line with another $2,000 and denied by algo.

So I broke up the second purchase. Did a transacton for $1500, approved. Another for $500, approved. Just five minutes later.

Thought this was an interesting data point for anyone who is trying to grow their credit limit with PayPal via purchase.

PS -- If you're married, e.g., this is a hidden trade line that you can tap like a cash advance with 0% interest for 6 months and a 2.9% fee, by invoicing from another PayPal account. Useful for improving overall utilization and smoothing out income received periodically.

Re: PayPal Credit data point

thummel — Fri, 09 Mar 2018 09:34:40 GMT

Useful information thank you!

Re: PayPal Credit data point

Anonymous — Fri, 09 Mar 2018 13:22:45 GMT

@Anonymouswrote:
Recently applied for a PayPal Credit account, having 719 Experian FICO and 16% UTI.

Approved for $3250 SL.

Initially ran $2,000 through it. Then attempted to grow the credit line with another $2,000 and denied by algo.

So I broke up the second purchase. Did a transacton for $1500, approved. Another for $500, approved. Just five minutes later.

Thought this was an interesting data point for anyone who is trying to grow their credit limit with PayPal via purchase.

PS -- If you're married, e.g., this is a hidden trade line that you can tap like a cash advance with 0% interest for 6 months and a 2.9% fee, by invoicing from another PayPal account. Useful for improving overall utilization and smoothing out income received periodically.

Congrats on the do and CLIs.

I’d highly recommend not using PPC to send money to another PP account of yours. Many people have had their accounts shut down for doing so.

Re: PayPal Credit data point

imaximous — Fri, 09 Mar 2018 14:53:53 GMT

@Anonymouswrote:
@Anonymouswrote:
Recently applied for a PayPal Credit account, having 719 Experian FICO and 16% UTI.

Approved for $3250 SL.

Initially ran $2,000 through it. Then attempted to grow the credit line with another $2,000 and denied by algo.

So I broke up the second purchase. Did a transacton for $1500, approved. Another for $500, approved. Just five minutes later.

Thought this was an interesting data point for anyone who is trying to grow their credit limit with PayPal via purchase.

PS -- If you're married, e.g., this is a hidden trade line that you can tap like a cash advance with 0% interest for 6 months and a 2.9% fee, by invoicing from another PayPal account. Useful for improving overall utilization and smoothing out income received periodically.
Congrats on the do and CLIs.

I’d highly recommend not using PPC to send money to another PP account of yours. Many people have had their accounts shut down for doing so.

Good to know. I imagine that wouldn't apply if you send money to a different account, like wife's account for instance?

Re: PayPal Credit data point

Anonymous — Fri, 09 Mar 2018 14:58:40 GMT

@imaximouswrote:
@Anonymouswrote:
@Anonymouswrote:
Recently applied for a PayPal Credit account, having 719 Experian FICO and 16% UTI.

Approved for $3250 SL.

Initially ran $2,000 through it. Then attempted to grow the credit line with another $2,000 and denied by algo.

So I broke up the second purchase. Did a transacton for $1500, approved. Another for $500, approved. Just five minutes later.

Thought this was an interesting data point for anyone who is trying to grow their credit limit with PayPal via purchase.

PS -- If you're married, e.g., this is a hidden trade line that you can tap like a cash advance with 0% interest for 6 months and a 2.9% fee, by invoicing from another PayPal account. Useful for improving overall utilization and smoothing out income received periodically.
Congrats on the do and CLIs.

I’d highly recommend not using PPC to send money to another PP account of yours. Many people have had their accounts shut down for doing so.
Good to know. I imagine that wouldn't apply if you send money to a different account, like wife's account for instance?

All depends. If they tie the 2 accounts to the same address then there’s a good chance they won’t let you send the money using PPC. I tried once to send some to my g/fs account and it wouldn’t go thru. We live at same address. They have no way of knowing if you’re just using wife’s account as your own.

Re: PayPal Credit data point

Anonymous — Fri, 09 Mar 2018 17:49:13 GMT

Unless it’s against the terms of service, I am okay with taking that risk. I don’t intend to stop using the account in any way I like, if it’s not actually prohibited by policy. Can’t see that it is.

Obviously they can shut it down at any time.

Re: PayPal Credit data point

AverageJoesCredit — Fri, 09 Mar 2018 17:58:09 GMT

Lol, cant say you werent warned . Congrats on approval. This account might start reporting once Synchrony finishes with it