topic Re: Paypal Credit Question in Credit Cards

Paypal Credit Question

chalupaman — Sat, 24 Jan 2015 18:43:17 GMT

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.

Re: Paypal Credit Question

Anonymous — Sat, 24 Jan 2015 19:06:26 GMT

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

Re: Paypal Credit Question

chalupaman — Sat, 24 Jan 2015 19:14:05 GMT

@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.

Re: Paypal Credit Question

Anonymous — Sat, 24 Jan 2015 20:05:23 GMT

@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.

Re: Paypal Credit Question

chalupaman — Sat, 24 Jan 2015 21:03:58 GMT

@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.

Re: Paypal Credit Question

DaveInAZ — Sat, 24 Jan 2015 22:13:38 GMT

@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.

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.

Re: Paypal Credit Question

chalupaman — Sat, 24 Jan 2015 23:10:20 GMT

@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.

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.

Did they pull EQ for you. I have that frozen right now.

Re: Paypal Credit Question

Imperfectfuture — Sun, 25 Jan 2015 00:20:51 GMT

I believe those are TU pulls.

Re: Paypal Credit Question

chalupaman — Sun, 25 Jan 2015 04:49:53 GMT

@Imperfectfuture wrote:
I believe those are TU pulls.

Oh sweet! That bureau has the least amount of inquiries for me so it's more than likely that's why my CLI was probably granted.

Re: Paypal Credit Question

DaveInAZ — Sun, 25 Jan 2015 12:53:40 GMT

@chalupaman wrote:
Did they pull EQ for you. I have that frozen right now.

Yep. EQ. I didn't see it until C Karma started providing EQ - it had 6 inquiries while TU only had 4. Besides the PP Credit HP EQ has one from Credit One, which I can't figure out - they were sending me pre-approvals for a long time and I just shredded them.

Re: Paypal Credit Question

chalupaman — Mon, 26 Jan 2015 07:26:21 GMT

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.

Re: Paypal Credit Question

Anonymous — Mon, 26 Jan 2015 12:15:57 GMT

@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?

Re: Paypal Credit Question

DaveInAZ — Mon, 26 Jan 2015 19:37:07 GMT

@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.

Re: Paypal Credit Question

chalupaman — Mon, 26 Jan 2015 18:51:03 GMT

@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.

Re: Paypal Credit Question

Anonymous — Mon, 26 Jan 2015 21:16:08 GMT

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.

Re: Paypal Credit Question

Anonymous — Tue, 27 Jan 2015 00:54:23 GMT

@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.

Re: Paypal Credit Question

Mickeedee — Sat, 31 Jan 2015 04:15:58 GMT

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.

Re: Paypal Credit Question

chalupaman — Sat, 31 Jan 2015 14:57:54 GMT

@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.

Re: Paypal Credit Question

TRC_WA — Sat, 31 Jan 2015 15:58:28 GMT

@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...

Re: Paypal Credit Question

Anonymous — Wed, 18 Feb 2015 06:22:21 GMT

@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!!