topic Re: No More Hidden TL for California , Tally etc in General Credit Topics

No More Hidden TL for California , Tally etc

emily15 — Sat, 14 Dec 2019 14:18:49 GMT

So (I think) we all know PayPal credit with Synchrony recently started reporting..
I got an email from Tally last week that said
“ In February 2020, we will begin reporting your Tally account to the credit bureau to comply with a new law in California.”

from what it looks like when PayPal started reporting, they date the account from when you opened it, so at least that’s good news.
Anyone familiar with this “new law” in CA?

Re: No More Hidden TL for California , Tally etc

M_Smart007 — Sat, 14 Dec 2019 19:27:53 GMT

@emily15 wrote:
So (I think) we all know PayPal credit with Synchrony recently started reporting..
I got an email from Tally last week that said
“ In February 2020, we will begin reporting your Tally account to the credit bureau to comply with a new law in California.”

from what it looks like when PayPal started reporting, they date the account from when you opened it, so at least that’s good news.
Anyone familiar with this “new law” in CA?

With regards to PayPal Credit, they are reporting My account opened 2012 ..That is when Commenity took over (if I am not mistaken)

I believe I opened BML PayPal Credit in 2006-2007. But never the less, it added a little to My AAoA so I can't complain to much.

I am not familiar with any *NEW* CA Law... But will check it out.

Re: No More Hidden TL for California , Tally etc

Anonymous — Sun, 15 Dec 2019 20:50:17 GMT

Well this is rather disappointing.

Re: No More Hidden TL for California , Tally etc

Anonymous — Tue, 17 Dec 2019 04:11:26 GMT

Can it be disputed as an unauthorized account? I read my Terms of Service agreement apart of the sign up process and there is no mention of reporting or hard inquiries. And, I didn't receive any email; but I kinda don't want to email and ask.

Re: No More Hidden TL for California , Tally etc

Remedios — Tue, 17 Dec 2019 04:26:19 GMT

I hope you're not suggesting person disputes their own account as fraudulent one, because that's what "unauthorized" means.

As far as reporting, unless there has been some recent change, reporting accounts is voluntary. Lender can opt to report, or not report at all (exceedingly rare).
They can also report to a single CRA, or any combination of the major three reporting agencies. The only requirement is that if they do report, it must be accurate.