topic Re: Synch/Paypal reporting Credit Bureaus OFTEN???? in General Credit Topics

Synch/Paypal reporting Credit Bureaus OFTEN????

Anonymous — Wed, 08 Jul 2020 08:18:54 GMT

Hello,

Noticing Paypal updating my balance to credit bureaus very often which I had not noticed before???

I noticed these updates to EX:

2/23/2020---carried bal

3/25/2020---carried bal

5/24/2020---carried bal

6/24/2020 <---showed Zero balance on EX report 6/24 as I had PIF $207 balance on 5jun

6/30/2020 <---showed $32 bal on EX report (actually showed up on all 3 reports as I had pulled FICO 3B and scores)

7/7/2020 <---shows Zero balance now as I PIF $32 bal on 7/6/2020 ( I just saw info this morning 7/8 EX updated)

It was updating monthly. The past 3 dates seemed way out of sequence. I have read on here where different creditors updated more than once in a cycle, just trying to understand SynchB/Paypal.

I am almost tempted to do a transaction to see if it updates it again so quickly. Something change that I miss?

Thanks!!!

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

ChiTownTony — Wed, 08 Jul 2020 10:24:17 GMT

Interesting. PayPal is updating once a month still for me.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Brian_Earl_Spilner — Wed, 08 Jul 2020 13:29:20 GMT

Sync is known to do that at times. The worst is when they report every time you charge something but they won't report you paid them off until the official monthly update.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Blazon — Wed, 08 Jul 2020 14:23:24 GMT

In some cases, if you dispute an item with Pay Pal directly or thru the respective CRA, I was told by SynchB/Pay Pal that they conduct a forced report once their investigation concludes. In that, your credit report may get updated between statement cycles. However, you can place a request directly with Pay Pal to force a credit update to the respective CRAs. You are not being singled out. I have encountered similar issues with Pay Pal. You may want to call and ask them to update.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Brian_Earl_Spilner — Wed, 08 Jul 2020 14:26:41 GMT

@Blazon wrote:
In some cases, if you dispute an item with Pay Pal directly or thru the respective CRA, I was told by SynchB/Pay Pal that they conduct a forced report once their investigation concludes. In that, your credit report may get updated between statement cycles. However, you can place a request directly with Pay Pal to force a credit update to the respective CRAs. You are not being singled out. I have encountered similar issues with Pay Pal. You may want to call and ask them to update.

It took about a week for them to update my PayPal card. Wasn't worth the hassle of requesting it. Was like pulling teeth.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Blazon — Wed, 08 Jul 2020 14:54:23 GMT

Fair Point on the hassle to get fixed. However, you do have an option to get corrected - though it does take some time to reflect the change. I guess it depends on your current situation.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Anonymous — Fri, 10 Jul 2020 02:58:52 GMT

You too?? Here's my timeline. It usually updates on the 8th or 9th of the month, with the statement ending on the 2nd.

However June and now July has been a crazy **bleep** show.

6/16: Updated
6/23: Updated
6/27: Updated
6/30: Updated
7/3: Updated
7/7: Updated
7/9: Updated (no statement closed)

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Anonymous — Fri, 10 Jul 2020 05:00:16 GMT

My Amazon Card by Synchrony reported twice in June, which really pissed me off because it reported the day I made my payment, 10 days before it's always reported in the past, and it hadn't posted yet. Grrr.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

ChargedUp — Fri, 10 Jul 2020 07:40:41 GMT

Synch can report multiple times a month, especially on heavily used accounts. Just another thing to love about them. dry.gif

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Iusedtolurk — Fri, 10 Jul 2020 10:20:48 GMT

@Anonymous wrote:
Hello,

Noticing Paypal updating my balance to credit bureaus very often which I had not noticed before???

I noticed these updates to EX:
2/23/2020---carried bal
3/25/2020---carried bal
5/24/2020---carried bal
6/24/2020 <---showed Zero balance on EX report 6/24 as I had PIF $207 balance on 5jun
6/30/2020 <---showed $32 bal on EX report (actually showed up on all 3 reports as I had pulled FICO 3B and scores)
7/7/2020 <---shows Zero balance now as I PIF $32 bal on 7/6/2020 ( I just saw info this morning 7/8 EX updated)

It was updating monthly. The past 3 dates seemed way out of sequence. I have read on here where different creditors updated more than once in a cycle, just trying to understand SynchB/Paypal.

I am almost tempted to do a transaction to see if it updates it again so quickly. Something change that I miss?

Thanks!!!

LOL I experienced this with Synchrony a couple of times and wondered what was going on.

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Then with a little research I saw a few other people who had experienced somewhat erratic reporting from them.

I just made a promise to myself (after finding out this could occur randomly from them) that if I had some plans to app in the future I would not make any moves with any Sync accounts thereby escaping any surprises during that timeframe.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

core — Fri, 10 Jul 2020 10:50:19 GMT

Since this seemingly-random reporting doesn't accomplish anything useful for them (that I can think of), I'm wondering if it's just a side effect that gets triggered in their system when something else is happening with your account behind the scenes.

Perhaps they start doing this when they're considering giving you the axe! Like a certain other company soft pulling you to death right before they hit you with a FR. But at least with a FR you have a chance of passing it. Unlike Synchrony where you can do nothing but prepare to meet your doom.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Anonymous — Fri, 10 Jul 2020 13:06:44 GMT

I am hoping just for the opposite with some attention on my account!!!

It's just $250 CL as I can't seem to get an increase from them. My scores have all gone up over 700+ and I use the account on the regular, even have my rent payment going through there (working on getting cashback on that chunk of change every month---AOD!!! soon).

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

DaveInAZ — Fri, 10 Jul 2020 13:17:25 GMT

@Anonymous wrote:
Hello,

Noticing Paypal updating my balance to credit bureaus very often which I had not noticed before???

I noticed these updates to EX:
2/23/2020---carried bal
3/25/2020---carried bal
5/24/2020---carried bal
6/24/2020 <---showed Zero balance on EX report 6/24 as I had PIF $207 balance on 5jun
6/30/2020 <---showed $32 bal on EX report (actually showed up on all 3 reports as I had pulled FICO 3B and scores)
7/7/2020 <---shows Zero balance now as I PIF $32 bal on 7/6/2020 ( I just saw info this morning 7/8 EX updated)

Every time I see someone posting about Synchrony randomly reporting balances I see that they PIF before the statement to get a $0 balance reported. I can only surmise that Sync really doesn't like that and doing so will result in random reporting. I always let my Sync accounts, including PPMC, report whatever the actual balance is on the statement and make one PIF of that balance before the next due date, and Sync only reports once per month, the statement balance. I don't do AZEO, I have too many accounts and think it's much more efficient use of my time & finances to just them all report actual statement balance and PIF that before the next due date, unless it's an intro promo or BT with 0% interest.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Anonymous — Fri, 10 Jul 2020 13:32:17 GMT

@DaveInAZ

Thanks for info!!!

I'm doing AZEO to see my mortgage scores best scenario at this point; I want to pursue mortgage the beginning of next year.

I said what the heck a few minutes ago and requested a CLI; was denied $2500 but the system countered with $400, so at least a positive sign of growth.

Re: Synch/Paypal reporting Credit Bureaus OFTEN????

Anonymous — Sat, 11 Jul 2020 02:58:48 GMT

@DaveInAZ

Yes, this seems to be the case. When I carried a balance, the account reported like clockwork every month on the exact same date. Then I started AZEO and PIF for the very first time. The previous balance got reported and it still has not updated to zero.