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Paypal Mastercard 2% back

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Paypal Mastercard 2% back

Hello everyone! I’m new to all this...so bear with me. Smiley Happy

Re: the Paypal Mastercard 2% from Synchrony: I got approved at a decent interest rate (considering it’s Synchrony) with a terrible CL. I thought it was temporary at first but the email I got almost immediately seems to confirm a low permanent CL (see below). Anyone had this experience with a TU Bankcard 8 score of 705 with 4-5 inquiries in the last 30-60 days, with approvals in the 3K-5K range. Thoughts on what to do?? Is this typical Synchrony? Thanks for your reading/commenting.

Congratulations! You have been approved for the PayPal Cashback Mastercard®.

Your Credit Details:

Temporary Credit Limit: $300.
Credit Limit: $300.
Variable Annual Percentage Rate (APR) for purchases: 21.49%.
13 REPLIES 13
Community Leader
Super Contributor

Re: Paypal Mastercard 2% back

Yeah the temporary CL is normal with Synchrony. You can call in and request more. Your limit could be higher than the $300.
Message 2 of 14
Valued Member

Re: Paypal Mastercard 2% back

I received a Sl of $3000, but my temp limit was $1500. Once the card was activated, my limit would be $3000. Your intrest rate seems kind of high. No 0% intro for 6 mo.? Any baddies on your cr


@cltjames wrote:
Hello everyone! I’m new to all this...so bear with me. Smiley Happy

Re: the Paypal Mastercard 2% from Synchrony: I got approved at a decent interest rate (considering it’s Synchrony) with a terrible CL. I thought it was temporary at first but the email I got almost immediately seems to confirm a low permanent CL (see below). Anyone had this experience with a TU Bankcard 8 score of 705 with 4-5 inquiries in the last 30-60 days, with approvals in the 3K-5K range. Thoughts on what to do?? Is this typical Synchrony? Thanks for your reading/commenting.

Congratulations! You have been approved for the PayPal Cashback Mastercard®.

Your Credit Details:

Temporary Credit Limit: $300.
Credit Limit: $300.
Variable Annual Percentage Rate (APR) for purchases: 21.49%.


report? High Utilization?

Message 3 of 14
Community Leader
Super Contributor

Re: Paypal Mastercard 2% back

Apr on a Synchrony card is mute. Sometimes you might get a lower end rate if the card offers tiers but no matter how good your credit is , the apr is probably not why we get these cards lol. I always recommend using Sync cards as PIF so you dont get caught up in the paying interest game or if they ever close your cards or balance chase you can just walk away.

Question op, Sync users TU FICO 8 not bankcard, is that what you mean. Do you have any other Sync cards that might affect your overall exposure?
#ChaseCreditCardHobby Enthusiast
2022
!
Message 4 of 14
New Visitor

Re: Paypal Mastercard 2% back

Hi,

Yeah, the APR was not stellar but I've seen worse so I counted it as a positive Smiley Wink  Re: other cards, yes, I have a couple store cards with them but they have relatively small limits on them. My TU FICO Score 8 is 720 and my TU FICO 8 Bankcard is 710...I just assumed they went with the Bankcard one?

No "baddies" on my CR other than inquiries (4-5) and few new accounts (3).

 

I appreciate everyone's thoughts on this...we shall see if the limit goes up.  I've never called to request a CL increase within such a short period of time after opening the card. Is this effective?

Message 5 of 14
New Member

Re: Paypal Mastercard 2% back

I'm in the same boat!  $300 CL!  Most recent scores are 805-813 FICO 8 via credit check total.  Several recent inquiries, couple new accounts not reporting yet, so scores will likely be back down a little soon, but right now, they're the highest they've been since I started watching.

 

I had to call in to "complete the app" and when the rep said "Congratulations!" I was momentarily a happy camper.  I actually laughed a bit when she said $300, and she rushed to assure me that if I build a history of timely payments, it might go up.  I'm holding out for $1k!  In contrast, my new Americard is (after some CL trading intra-BOA) $63K.  Most other cards are 10k - 25k. 

 

So yeah, I'm laughing again...   My other 2% cards (Fidelity, Blispay, DoubleCash, Penfed Power) are not too worried about their place in my wallet...

 

Was gonna use it via Plastiq/Masterpass to get 2% on paying down my student loans.    Tee up Plan B.

Dio

 

Message 6 of 14
Valued Contributor

Re: Paypal Mastercard 2% back

Congratulations on the approval! I got my own PayPal 2% a week or so after you did - it has a good SL ($6K), but it appears I won't be eligible to ask for CLI's for up to three months, since there's no "luv button" loaded on my account page yet. I assume you don't have any facility to ask for CLI's yet either. This seems to be normal for Sync with new accounts, so the best thing to do is use the card actively and keep up with your payments, PIF'ing if and when you can. You should be able to request increases in a couple of months.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 7 of 14
Valued Contributor

Re: Paypal Mastercard 2% back

Fear not!
This is a quirk of this card.
It has happened to many here including me.
Buy a cup of coffee and pay it off for 2 statements and then ask for a CLI.
If successful ask again 4 statements later
If unsuccessful try the next month
Always ask for 25k
You’ll be up to 8-10k in 6 months and higher in 12 if your profile supports it.
NFCU Flagship 66k-United Plus Explorer-50k-QS 25k-Avianca 25k-Cabelas 24k-Lowes 35k-USAA Amex 32k-FNBO Plat 31k-Numerous others at 20k and below
Message 8 of 14
Community Leader
Super Contributor

Re: Paypal Mastercard 2% back

Lol, who woulda thunk I'd get the $300 $300Smiley Wink
#ChaseCreditCardHobby Enthusiast
2022
!
Message 9 of 14
Valued Contributor

Re: Paypal Mastercard 2% back

It’s Synchrony! Need we say more? Lol

You have 2 choices, one, accept a $300 SL or two, accept a $25K SL enclosed in a blue envelope. Watcha pick? Smiley Happy

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 2/12 & 4/24
Message 10 of 14
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