On 12/13 I applied for the PayPal Cashback Mastercard and was given a code and number to contact. I was approved that same night with a modest CL of $700 and told that I would receive my card in the mail in 7-10 business days. Cool!
Today, I received an email from EX and MyFico alerting me that a new account was added to my EX report. When I checked, it was the Synchrony/PayPal account. I found this odd (but not too alarming) since I haven't even received an email or a letter confirming the account is mine and the card still hasn't appeared on my PayPal account. What's curious (and what prompted me to make this post) is EX reported the date the account was added as December 1. This concerns me because my CC/Credit Score strategy involves maximizing my CL each month and PIF each month, keeping 1 account with a small balance well below 9% of my CL but that only works because so far I could reliably predict when all my accounts will be reported to each CRA and therefore maintaining an optimal utilization each month.
Has this happened to anyone else? Is it normal for some CCs/PayPal? I didn't experience this with Captial One. They didn't report until a month after I applied and was approved for their Platinum card and they explained to me that they report 2-3 days after the statement date. I have read that some CCs can make random reports to CRA during the month as well as the date when they normally report. I don't plan on ever racking up purchases above the 9% utilization threshold in any month but I also don't want to mess my rebuilding efforts because I didn't know something. Thanks for the help!
A little more info: The main reason I went for this card was that I read that Synchrony Bank is quite liberal with its CLIs. At the time, my CLs were quite low and I needed something that could grow significantly to help me use my CCs for rewards/travel now that my scores are good enough to qualify for these cards. Since then though, I added two new accounts with higher CLs, 0% APRs periods to exploit and rewards bonuses to scoop up, so now I plan on using this card minimally in 2018 (a few purchases that I'll PIF to keep the card fresh).
@polaris2011 wrote:Today, I received an email from EX and MyFico alerting me that a new account was added to my EX report. When I checked, it was the Synchrony/PayPal account. I found this odd (but not too alarming) since I haven't even received an email or a letter confirming the account is mine and the card still hasn't appeared on my PayPal account. What's curious (and what prompted me to make this post) is EX reported the date the account was added as December 1. This concerns me because my CC/Credit Score strategy involves maximizing my CL each month and PIF each month, keeping 1 account with a small balance well below 9% of my CL but that only works because so far I could reliably predict when all my accounts will be reported to each CRA and therefore maintaining an optimal utilization each month.
Has this happened to anyone else? Is it normal for some CCs/PayPal? I didn't experience this with Captial One. They didn't report until a month after I applied and was approved for their Platinum card and they explained to me that they report 2-3 days after the statement date. I have read that some CCs can make random reports to CRA during the month as well as the date when they normally report. I don't plan on ever racking up purchases above the 9% utilization threshold in any month but I also don't want to mess my rebuilding efforts because I didn't know something. Thanks for the help!
Synchrony issues the paypal credit cards. I do not have any Synchrony cards but from what I have read on this forum they seem to report when ever they want and often times it is at the worst time for the cardholder. See below recent posts about about how their erratic early reporting practices have caught people off guard.
http://ficoforums.myfico.com/t5/Credit-Cards/Paypal-Synchrony-reported-early/m-p/5113036#M1500018
All my accounts show open dates of the first of the month on Experian.
@Jetboy wrote:
@polaris2011 wrote:Today, I received an email from EX and MyFico alerting me that a new account was added to my EX report. When I checked, it was the Synchrony/PayPal account. I found this odd (but not too alarming) since I haven't even received an email or a letter confirming the account is mine and the card still hasn't appeared on my PayPal account. What's curious (and what prompted me to make this post) is EX reported the date the account was added as December 1. This concerns me because my CC/Credit Score strategy involves maximizing my CL each month and PIF each month, keeping 1 account with a small balance well below 9% of my CL but that only works because so far I could reliably predict when all my accounts will be reported to each CRA and therefore maintaining an optimal utilization each month.
Has this happened to anyone else? Is it normal for some CCs/PayPal? I didn't experience this with Captial One. They didn't report until a month after I applied and was approved for their Platinum card and they explained to me that they report 2-3 days after the statement date. I have read that some CCs can make random reports to CRA during the month as well as the date when they normally report. I don't plan on ever racking up purchases above the 9% utilization threshold in any month but I also don't want to mess my rebuilding efforts because I didn't know something. Thanks for the help!
Synchrony issues the paypal credit cards. I do not have any Synchrony cards but from what I have read on this forum they seem to report when ever they want and often times it is at the worst time for the cardholder. See below recent posts about about how their erratic early reporting practices have caught people off guard.
http://ficoforums.myfico.com/t5/Credit-Cards/Paypal-Synchrony-reported-early/m-p/5113036#M1500018
Thanks for the reply and the links. I'll maintain a conservative spending approach with this card seeing that they might report at any time.
@Ardecko wrote:
All my accounts show open dates of the first of the month on Experian.
I rechecked and you're right but all my previous cards reported on the month after I applied. These guys sure seem eager. 
Thanks for the reply.
@SBR249 wrote:I recently got this card and yes, Synchrony reports it super fast (as an aside, so does Barclaycard!). What's even worse is that you are supposed to manage the card through your Paypal account (they will add a link that takes you to Synchrony's account page) and for me, they didn't add the link until 2-3 days after I received my card. Of course, there was nothing that explains any of that on any paperwork that I received. I was only told this after I called in. Luckily it didn't matter to me because the card wasn't scheduled to be used in the general spend rotation until a month later. Maybe it's because I was approved through a phone recon due to need for verifying my information (recently moved) but that was how it played out for me.
Edit: I applied for the card Nov 9th and got an alert that a new account reported on Equifax Nov 14th. Sync also emailed to let me know the card was shipped out on the 14th.
Yeah, incredibly, albeit needlessly, fast. I wouldn't mind had they given me a better SL but it's fine as long as they grow it, hopefully as quickly as they report it. Thanks for the info.
@SBR249 wrote:I recently got this card and yes, Synchrony reports it super fast (as an aside, so does Barclaycard!). What's even worse is that you are supposed to manage the card through your Paypal account (they will add a link that takes you to Synchrony's account page) and for me, they didn't add the link until 2-3 days after I received my card. Of course, there was nothing that explains any of that on any paperwork that I received. I was only told this after I called in. Luckily it didn't matter to me because the card wasn't scheduled to be used in the general spend rotation until a month later. Maybe it's because I was approved through a phone recon due to need for verifying my information (recently moved) but that was how it played out for me.
Edit: I applied for the card Nov 9th and got an alert that a new account reported on Equifax Nov 14th. Sync also emailed to let me know the card was shipped out on the 14th.
I knew I had read this a month or so ago as I browsed through the forums. I applied about 2 weeks ago and received my card yesterday and have been searching my Paypal account for the link. Wish they would add this to the info that they mail out with the card!
Starting Score: EQ - 691; TU - 726; EX - 711