topic Re: PayPal Credit Line: Earning Higher Limit? in Credit Cards

PayPal Credit Line: Earning Higher Limit?

Anonymous — Fri, 29 Jun 2018 17:33:26 GMT

I logged into my PP account the other day and they advertised PayPal credit to me for the thousandth time, so I decided to apply just to see. Got $800 starting limit and just used half that today to make a purchase (FYI Macy's is having a great sale right now if anyone wants feather pillows ).

I know they'll do a soft pull if you try to purchase something over your limit. I tried that on day 1 (+$400 over limit) and they, unsurprinsingly, didn't approve the purchase.

My goal is to get it to a bigger limit so that I could actually get use out of it as a "bill me later" financing type thing. Anything under $3k I could easily put on a CC right now, pay in full when my statement hits, and earn cash back. I would want to use this for larger purchases, like furniture (or a jet ski)

In all seriousness, what's the strategy here? Pay in full, use it regularly, and try to make big purchases with it often?

Re: PayPal Credit Line: Earning Higher Limit?

outofcredit — Fri, 29 Jun 2018 19:05:02 GMT

@Anonymous wrote:
I logged into my PP account the other day and they advertised PayPal credit to me for the thousandth time, so I decided to apply just to see. Got $800 starting limit and just used half that today to make a purchase (FYI Macy's is having a great sale right now if anyone wants feather pillows ).

I know they'll do a soft pull if you try to purchase something over your limit. I tried that on day 1 (+$400 over limit) and they, unsurprinsingly, didn't approve the purchase.

My goal is to get it to a bigger limit so that I could actually get use out of it as a "bill me later" financing type thing. Anything under $3k I could easily put on a CC right now, pay in full when my statement hits, and earn cash back. I would want to use this for larger purchases, like furniture (or a jet ski)

In all seriousness, what's the strategy here? Pay in full, use it regularly, and try to make big purchases with it often?

Synchrony Bank will be acquiring PayPal credit (bill me later) accounts next week, July 2nd. Whether the old method of increasing the credit line will still work is unknown. It may end up being like other Synchrony account where you actually hit the luv button (sp cli). I guess we will know soon what may change.

Re: PayPal Credit Line: Earning Higher Limit?

Credit-hoarder — Fri, 29 Jun 2018 19:25:31 GMT

The amount of your CL with Synch is largely determined by your TU score (and your income). Generally scores above 740 get the higher/ highest CL.

Re: PayPal Credit Line: Earning Higher Limit?

Anonymous — Fri, 29 Jun 2018 19:53:44 GMT

Thanks guys! I just got the email this morning stating it was being taken over by Synchrony. My TU score is currently 680 according to Capital One's Credit Wise. I have no experience with Synch so I guess I'll wait and see what happens

Re: PayPal Credit Line: Earning Higher Limit?

Anonymous — Fri, 29 Jun 2018 20:13:01 GMT

@Anonymous wrote:
... My TU score is currently 680 according to Capital One's Credit Wise.

Credit Wise shows a Vantage 3.0 score while Synchrony uses FICO 08. If you don't already know your FICO scores you can find out for a dollar here.

Re: PayPal Credit Line: Earning Higher Limit?

Anonymous — Sat, 30 Jun 2018 21:46:34 GMT

Nice, OP!

IMHO, keep doing what you are doing, and when Synchrony officially aquires BilMeLater, you may be able to request a CLI—Synchrony is very generous to those with scores start to near 700.

Re: PayPal Credit Line: Earning Higher Limit?

AverageJoesCredit — Sat, 30 Jun 2018 01:29:29 GMT

Lol, Synchrony is very generous to those with 680 and up. 680s are typically where you start seeing the 5-6k limits on many of their cards. 700s and up is when you start cracking 10k or higher.

Re: PayPal Credit Line: Earning Higher Limit?

joltdude — Sat, 30 Jun 2018 02:42:36 GMT

Im curious if id eek out a 10k Sync card... Heres looking at PP 2%...

Re: PayPal Credit Line: Earning Higher Limit?

AverageJoesCredit — Sat, 30 Jun 2018 03:16:08 GMT

Jolt you'd probably get a good limit and probably could get it over 10k within a few months. Worth a shot but seeing as you have DC and Bliss, maybe a different Sync card like a Old Navy,

Re: PayPal Credit Line: Earning Higher Limit?

Anonymous — Sat, 30 Jun 2018 21:47:27 GMT

Thanks for the data point, AJC---I have just corrected my post!

Re: PayPal Credit Line: Earning Higher Limit?

Anonymous — Sat, 30 Jun 2018 21:50:13 GMT

After checking out your signature, I'd say you have a pretty good chance. If you do not get a 10k SL, however, you can keep hitting the luv button or call customer solutions until you do.

Re: PayPal Credit Line: Earning Higher Limit?

joltdude — Sun, 01 Jul 2018 01:42:12 GMT

Im eventually getting rid of Blis.. I like it but i really need it to grow a bit....

Even though its only reporting on one CR...

Also have a horrible desire to app for another card before the end of the year...

Bad, I know

Re: PayPal Credit Line: Earning Higher Limit?

Anonymous — Sun, 01 Jul 2018 06:07:13 GMT

I know the feeling. What kind of card are you looking for, by the way? Could you also give me a brief rundown of your credit profile so that I suggest a card to you?