topic Re: Synchrony PayPal 2% Cashback MC Data Points in Credit Card Applications

Synchrony PayPal 2% Cashback MC Data Points

DaveInAZ — Mon, 10 Jul 2017 15:37:21 GMT

Synchrony recently introduced the PayPal 2% CashBack Mastercard, earning 2% cashback rewards on every purchase. I applied 7/3/17 and was approved. Synchrony reports new accounts quickly, they reported my new account 7/5. In my CC Approvals post I had several questions about credit score needed and other requirements, so I thought it would be useful to start a Data Points thread.

General Requirements:

- You must have a PayPal account in good standing to apply. Cashback rewards are redeemed to your PayPal account. If your PayPal account is closed for any reason Sync will close your PayPal MC account. You access the Synchrony site for the card through your PayPal account.

- If you have PayPal Credit from Comenity you cannot have a PayPal Mastercard from Synchrony, it's one or the other. I had PayPal Credit which I rarely used, so I called Comenity in June and closed my PP Credit account. I have read that you can have 2 PayPal accounts, 1 personal & 1 business, to get around this, but I've had my PayPal personal account since 2005 and didn't want to mess around with it.

- Currently you can only apply for the 2% Cashback MC by invitation through PayPal, either by email or a banner when you log into PayPal.

- If you currently have a PayPal Extras MC you cannot apply for the Cashback MC, and Synchrony says that "currently" they cannot convert PayPal Extras to the Cashback MC.

Data Points:

TU FICO 08 score: (or Vantage score from Credit Karma or similar source if that's all you have available)

Approval/Denial:

Credit Limit Approved:

Derogs?: (BK/Collection/Etc)

Utilization:

Total TU Inquiries:

New Accounts in last 12 months:

Other Relevant Info:

Re: Synchrony PayPal 2% Cashback MC Data Points

DaveInAZ — Mon, 10 Jul 2017 15:45:34 GMT

TU FICO 08 score: 720 Fico 08

Approval/Denial: Instant approval

Credit Limit Approved: $7k

Derogs?: (BK/Collection/Etc): BK7 discharged 1/31/2011, 100% positive since, IIB accounts no longer reporting on TU

Utilization: 9%

Total TU Inquiries: 8

New Accounts in last 12 months: 4

Other Relevant Info: I've had a Sync Walmart card since 2/2013 & Lowes since 1/2015, both w/$10k CLs. Closed Amazon & Sams Club positive reporting Sync accounts

Re: Synchrony PayPal 2% Cashback MC Data Points

Anonymous — Mon, 10 Jul 2017 15:52:17 GMT

@DaveInAZ wrote:
Synchrony recently introduced the PayPal 2% CashBack Mastercard, earning 2% cashback rewards on every purchase. I applied 7/3/17 and was approved. Synchrony reports new accounts quickly, they reported my new account 7/5. In my CC Approvals post I had several questions about credit score needed and other requirements, so I thought it would be useful to start a Data Points thread.

General Requirements:
- You must have a PayPal account in good standing to apply. Cashback rewards are redeemed to your PayPal account. If your PayPal account is closed for any reason Sync will close your PayPal MC account. You access the Synchrony site for the card through your PayPal account.

- If you have PayPal Credit from Comenity you cannot have a PayPal Mastercard from Synchrony, it's one or the other. I had PayPal Credit which I rarely used, so I called Comenity in June and closed my PP Credit account. I have read that you can have 2 PayPal accounts, 1 personal & 1 business, to get around this, but I've had my PayPal personal account since 2005 and didn't want to mess around with it.

- Currently you can only apply for the 2% Cashback MC by invitation through PayPal, either by email or a banner when you log into PayPal.

- If you currently have a PayPal Extras MC you cannot apply for the Cashback MC, and Synchrony says that "currently" they cannot convert PayPal Extras to the Cashback MC.

Data Points:
TU FICO 08 score: (or Vantage score from Credit Karma or similar source if that's all you have available)
Approval/Denial:
Credit Limit Approved:
Derogs?: (BK/Collection/Etc)
Utilization:
Total TU Inquiries:
New Accounts in last 12 months:
Other Relevant Info:

Yes please.....I have several Sync cards...the ToysRus MC at 1800--Wally store card at 6k...Lowes at 500....Meineke at 3k..Ashley and Value city at 4500...Amazon at 5k...

I do have a PAY PAL account in good standing..NOTHING TO DO with Comenity tho

Re: Synchrony PayPal 2% Cashback MC Data Points

Anonymous — Tue, 11 Jul 2017 19:42:57 GMT

Hey DaveInAZ

Nice post. Great data points! Thanks for sharing your research! I was wondering how the Commenity and Synchrony thing tied in together, in regards to what accounts you have wtht PayPal. So, you answered my questions. Thanks again!

Re: Synchrony PayPal 2% Cashback MC Data Points

Goos — Mon, 13 Nov 2017 20:35:07 GMT

This is kind of an old thread but , I got this email last night 11-12 to apply for this card . Which is odd because I have pay pal credit on the account already . So I decided I would take the hit for the hp and apply anyways . Low and behold 2000 approval and it’s attached to my paypal along with my pay pal credit . So I’m unsure what will happen but I can keep you posted . Just thought I would share since I thought one pay pal product per pay pal .

Re: Synchrony PayPal 2% Cashback MC Data Points

Anonymous514 — Tue, 14 Nov 2017 01:33:41 GMT

How does the card feel? Flimsy like the Paypal Extras MC? Or a harder plastic like a normal cc? Ill apply if it feels normal. I cancelled my paypal extras MC because of the flimsy feeling.

Re: Synchrony PayPal 2% Cashback MC Data Points

AverageJoesCredit — Tue, 14 Nov 2017 13:35:15 GMT

Feels like a bag of sand

Re: Synchrony PayPal 2% Cashback MC Data Points

DaveInAZ — Wed, 15 Nov 2017 16:17:21 GMT

@Goos wrote:
This is kind of an old thread but , I got this email last night 11-12 to apply for this card . Which is odd because I have pay pal credit on the account already . So I decided I would take the hit for the hp and apply anyways . Low and behold 2000 approval and it’s attached to my paypal along with my pay pal credit . So I’m unsure what will happen but I can keep you posted . Just thought I would share since I thought one pay pal product per pay pal .

Yes, kind of an old thread, but thanks for the resuscitation.

PayPal, Comentity, and/or Synchrony changed things in September and now you can have both (Comenity) PayPal Credit and (Synchrony) PayPal 2% Cashback accounts. I closed PP Credit in June so I could app for the Cashback MC, approved in early July. When they started allowing both I call Comenity and they reinstated my PP Credit. Great having both, Cashback MC for 2% rewards on everyday spending, PP Credit for large purchases and 0% deferred interest.

For those asking about the Cashback MC the card is standard CC plastic, just the artwork looks chintzy to me. And the name & numbers aren't embossed, just printed on the back. Fine with me, for the few seconds I look at a card when using it, it can be as ugly as they want.

Re: Synchrony PayPal 2% Cashback MC Data Points

Goos — Wed, 15 Nov 2017 16:46:48 GMT

Zombie thread !!! Back from the dead ! It very helpful with your original post thanks ! Hopefully it will help other as they do research!

Ps I don’t know if I have ever disliked how my card felt lol ! But different strokes for different folks !

Re: Synchrony PayPal 2% Cashback MC Data Points

Anonymous — Mon, 02 Jul 2018 16:58:44 GMT

Hope nobody minds the thread resurrection, but I do have some data points to contribute now that I have my own 2% MC:

TU FICO 08 score: (or Vantage score from Credit Karma or similar source if that's all you have available): 665

Approval/Denial: Approval

Credit Limit Approved: $6,000 (upon card activation; $1,000 temporary)

Derogs?: (BK/Collection/Etc): 2014 Ch7 BK, discharged

Utilization: 5%

Total TU Inquiries: 9 counting this (4-5 over 1 year old)

New Accounts in last 12 months: 5, counting this card

Other Relevant Info: Was considering the Marvel MC due to 3% media rewards, but the average score needed was a bit too high and the 2% cash back on everything proved more attractive in the end. Also received pre-approval offers for the Ollo Mastercard but it just didn't look attractive. Type 2 account, 25.49% APR. I was surprised at the temp CL I got, I was expecting $250-$500.

Re: Synchrony PayPal 2% Cashback MC Data Points

Anonymous — Tue, 03 Jul 2018 02:06:51 GMT

Ill put mine in even though its oldish

January 24, 2018, SL 700, TU at the time was 651

It hasnt grown since, not yet anyway. Been a paypal account holder since 2004, and already had the comenity (as of yesterday Synchrony) credit line as well.

Re: Synchrony PayPal 2% Cashback MC Data Points

Anonymous — Tue, 03 Jul 2018 03:27:05 GMT

Additional data point: Synchrony has been very prompt about reporting the new account. It just appeared tonight on Experian and I expect to see it on TransUnion and Equifax soon as well. I'm not sure why I was expecting to see only the temporary CL reported to start with, but it showed up with the full permanent CL reported.

Re: Synchrony PayPal 2% Cashback MC Data Points

bpcnabe — Tue, 03 Jul 2018 20:50:33 GMT

Can you share which CRA they pull? I tried it once before and unlocked TU (based on search) but they pulled EX (which was locked). 2 months later and they are teasing me again.

Re: Synchrony PayPal 2% Cashback MC Data Points

MidnightKnight — Wed, 04 Jul 2018 01:10:34 GMT

Mine is from back in January. Could be useful to people with young profiles. Data from when I applied from the best of my knowledge.

Age: 18 (College Student, 2 Part-time jobs)

AAoA: 4 months

TU FICO 08 score: 758

Credit Limit Approved: 6,400

Derogs?: No baddies

Total TU Inquiries: 1 from 6 months ago

New Accounts in last 12 months: 3

Other Relevant Info: Had to call a number to verify information and was approved after verifying information.

Total number of Accounts: 1 Joint, 2 individual, 2 AU

Re: Synchrony PayPal 2% Cashback MC Data Points

jayjayhawaii — Mon, 01 Oct 2018 08:06:36 GMT

AAoA: 11 months

TU FICO 08 score: 710

Credit Limit Approved: 2,500

Derogs?: No baddies

Total TU Inquiries: 12, 5 of them in the last six months

New Accounts in last 12 months: 8, 4 of them in the last six months

Other Relevant Info: 21% utilization, $80k income, PayPal account open since 2011, but used sparingly

Re: Synchrony PayPal 2% Cashback MC Data Points

44Rebuild2Ball — Tue, 30 Jul 2019 23:23:50 GMT

AAoA: 4 yrs 8 months
TU FICO 08 score: 628
Credit Limit Approved: 300
Derogs?: 1 collection 3.6k (4yrs) 1 auto loan charge off 8.3K 5.5 yrs both unpaid
Total TU Inquiries: 3, all of them in the last six months
New Accounts in last 12 months: 3 of them in the last six months
Other Relevant Info: 34% utilization