topic Re: Paypal Credit in Credit Cards

Paypal Credit

Anonymous — Wed, 25 May 2016 12:47:54 GMT

Hello,

I have a very specific question about one of my credit lines. I know one of the big factors of having a good credit score is having a lot of available credit and not using a lot of it! I use credit karma and for some reason my Paypal credit DOES NOT show up on it, which is clearly harming my credit score. (Minorly)

Does anyone have any advice for purposely reporting this credit line to the credit bureaus? I use it seldomly but its always paid off of course.

Thank you!!

Re: Paypal Credit

AverageJoesCredit — Wed, 25 May 2016 12:52:59 GMT

Hi and welcome! Paypal Credit is from Comenity Bank and is a hidden tradeline which means it does not report to the three credit bureaus. I also have this and it has never affected my score . Hope this helps!

Re: Paypal Credit

Nolan34 — Wed, 25 May 2016 12:53:59 GMT

Its a hidden tradeline so it won't show up on your CR. I've had PayPal Credit for over a year. Hope this answers your question

Re: Paypal Credit

Anonymous — Wed, 25 May 2016 12:58:03 GMT

Thank you so much guys! Appreciate the prompt response.

Re: Paypal Credit

AverageJoesCredit — Wed, 25 May 2016 13:09:37 GMT

Dont we all but i'll tell you what if i could get to 750 id be just as happy as they say that opens just as many doors .

Re: Paypal Credit

takeshi74 — Wed, 25 May 2016 16:54:26 GMT

@Anonymous wrote:
I know one of the big factors of having a good credit score is having a lot of available credit and not using a lot of it!

You can use whatever you need/want but you want to be careful with what's reported. Your balances and limits in your report are used to determine revolving utilization. Your revolving accounts generally report once a month. If you have a lot of usage and don't want high revolving utilization reported then you can pay down balances prior to report date. The balance on report date is what will be reported to the CRA's.

Revolving utilization does have a significant impact and falls under Amounts Owed which is the second biggest FICO scoring factor but it's not the only factor that matters.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=revolving+utilization+closed+accounts+site:myfico.com

@Anonymous wrote:
I use credit karma and for some reason my Paypal credit DOES NOT show up on it, which is clearly harming my credit score.

It may not benefit but it's not harming. You need to look at your reports to sort out what's harming you.

@Anonymous wrote:
Does anyone have any advice for purposely reporting this credit line to the credit bureaus?

You cannot force a creditor to report to a CRA that it does not normally report to. If you don't want a hidden tradeline then don't apply for a hidden tradeline.

Re: Paypal Credit

takeshi74 — Wed, 25 May 2016 16:49:27 GMT