PayPal Credit Invitation & Denial!!!

[44Rebuild2Ball]

Hey all,

For all the rebuilders out there here is some data points:

Denied for Synch PayPal Credit pulled
TU FICO8 @ 655
3 INQ’s (now 4) all this month.
2 Baddies, unpaid co 4yrs+, auto loan c/o 6yrs.
PPCBMC 0/300 reporting
CAPONE AU 2426/4750 51% util
DISCOVER AU (closed) 0/13000

Others not yet reporting to TU:

Comenity/Toyota 0/2000
CapOne Platinum 0/300

Other scores: EX8FICO 626 EQ8FICO 598

UGGHH! Was approved for PayPal Cashback MC two weeks ago w/ TU08 628 for my second open revolver, go figure. I received invitation to apply for PPLOC with a $20 BONUS off purchase offer. Inq’s all this month to obtain my 3 open revolvers to start my rebuild. Pissed I wasted a hard pull on this...should have apped for another card. Oh well grabbing my seed-paks 🌷🌾🌺🌾🌻 gardening for 6 months, other than a SSL or auto loan I’m pulling the trigger on!

[woodyman100]

Sorry to hear OP.

Those invitations are nothing more than marketing.

I get them all the time and I already have both account types.

My DW does as well and she gets an email a day it seems, to apply for the Cash back card and PP credit

[44Rebuild2Ball]

I was approved for the PPCBMC 2 weeks ago, it hit my reports 2 days later. I had TU628, I thought with 655 TU8 I was okay....no dice. Another HP to the Inquiry Graveyard.

[Anonymous]

Synchrony barely let you in with the first card. Show them responsible use and they’ll be more willing to extend you additional credit later. 

[Anonymous]

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@44Rebuild2Ball wrote:
I was approved for the PPCBMC 2 weeks ago, it hit my reports 2 days later. I had TU628, I thought with 655 TU8 I was okay....no dice. Another HP to the Inquiry Graveyard.

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You can still be denied credit regardless of how high your scores are.

[Anonymous]

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@Anonymous wrote:

Synchrony barely let you in with the first card. Show them responsible use and they’ll be more willing to extend you additional credit later. 

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Im with Saeren on this.  They opened the door a crack for the PPCBMC, but then closed it until they see how you manage what they gave you.  Give it three to four months and score in the 670's and I bet you will get it.

[FireMedic1]

Give it time. I still get the invitation for the PP MC splash page everytime I login. I've had the card for 4 months. Go figure..........

[Remedios]

@44Rebuild2Ball  Sorry about this denial, but you also got recent Target, Amex and Barclay denials, too

I think the message there is pretty clear,garden and maybe stop ignoring negative items on your CR 

You have two unpaid charged off loans. Take care of that first before attempting to apply for more cards. 

Good luck 

[BallBounces]

Hi OP.

Am I reading correctly that you have two unpaid charge offs on your credit reports?  If so, despite any prior successes, I would never assume an approval with those.  You might be surprised what the positive effects of resolving those derogitory marks are. 

If I were in your shoes, I would apply all effort and energy to resolving the delinquencies before adding any additional credit.

Also, a general statement, be careful about the difference between pre approvals, pre qualifications, and invitations to apply.  None are guarantees ... especially an invitation to apply.

[Anonymous]

My scores are all in the  800's and my philosophy is simple - any "invitations to apply" that I get are considered decline letters and are shredded. Any "Pre-approval" letters I get (and I have gotten none) are treeated as "toy" cards and are also shredded.