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Approved for Paypal Credit 11 month post Bankruptcy.

NightTrader
Established Member

Approved for Paypal Credit 11 month post Bankruptcy.

 

Update:   I was approved 06/25/2021 for PayPal credit and the account is showing up on Experian 06/26/2021. That was really quick! Hope it does not impact my secure card graduation with Discover and Navy Federal. 

 

I am really excited that I got approved for Pay Pal credit for $2,400.  Synchrony Bank was included in my bankruptcy in July 2020 (not Paypal) and I thought I would not get back in with them anytime soon. I burned them for about $1.5K with Sleep Number but my account was paid on time each month until the bankruptcy.  

 

I have been using my Paypal account for different things and I use Paypal for my business as well.  I was denied doing prequalifications for Lowe's this week and Old Navy just yesterday (I was testing the water with soft pulls). I also opened an online Synchrony Savings Account one year ago. 

 

I really like the PayPal Credit six-month interest-free offer on purchases over $99. This is a good Friday for me. 

 

Data Points 

Keep Utilization between 2% to 5%;  with a total $7,500 credit limit before applying and four credit cards;  and only one with a small monthly balance reporting.  Use other cards and pay in full each month. 

Credit score ranges from 667 to 697 FiCO 8.

Bankruptcy 07/2020

Discharged 10/2020

 

The only issue is ... I hope this does not impact my graduating with Discover IT and Navy Federal secure cards.  I am gardening for at least one year.  Does anyone have experience with opening new cards while waiting for cards to graduate or unsecure?

 

KnightTrader757

16 REPLIES 16
KingRue8500
Valued Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Congrats on your Paypal Credit approval




Message 2 of 17
NightTrader
Established Member

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Thank you @KingRue8500 

Message 3 of 17
josie
Regular Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Congratulations 

 

Started over because life happens.
I did it again even better this time. My highest score last time was 680

Starting Score: 513 Ex 520 Eq 534 Tu
Current Score: 690 Ex 690 Eq 698 Tu
Goal Score: 740


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Message 4 of 17
NightTrader
Established Member

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Thanks

Message 5 of 17
coreyb80
Senior Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Congrats on the approval!

Message 6 of 17
CreditAggie
Super Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Congratulations on your PayPal approval!

Current Cards (in order of approval):


Current FICO 8 | 9:

Credit Age:

Inquiries (24 month):

Banks & CUs:

Goal Cards:



Currently: 2/6, 2/12, 5/24
Message 7 of 17
Mr_Mojo_Risin
Senior Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

This is a pretty cool approval, congratulations to you.

I don't have personal experience with a secured card but I really don't think this one new account would jeopardize the graduation of your cards. 

Cheers!

NFCU More Rewards 28K CL
AODFCU Visa Signature 5K CL
Citi Custom Cash 4.5K
NFCU Cash Rewards 8K
Discover IT 2K
Cap 1 600
NFCU auto loan
Message 8 of 17
Yasselife
Frequent Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

I like how paypal credit reports as credit card instead of store. Congratulations 



Message 9 of 17
KLEXH25
Valued Contributor

Re: Approved for Paypal Credit 11 month post Bankruptcy.

Congratulations!



Message 10 of 17
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