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PayPal Credit up and running

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Established Contributor

Re: Paypal credit up and running


@CueAyZee wrote:

@AverageJoesCredit wrote:
My only question is, why hasnt anyone caught it?Smiley Wink

Because it dodges that **bleep** like Neo from the Matrix.Smiley LOL


Has anyone actually experienced a "re-aging" of their paypal credit account?

Message 101 of 142
Senior Contributor

Re: Synchrony


@CueAyZee wrote:

@Credit_hawk wrote:
I feel bad if they do report and the folks who closed their accounts still get dinged. It’s all on faith they won’t list the account just because they closed it.

It also strikes me as potentially illegal for a bank to re-age your account just because they are the current servicing bank. I find this extremely hard to believe.

You may be on to something. This article suggest you may be right about banks re-aging your account being illegal.

https://rebuildcreditscores.com/steps-to-take-if-an-account-has-been-re-aged/


This is debt collection law. There is no “re-aging” going on here. The account hasn’t reported before, it was serviced by a company that chose not to report, it’s not Synchrony’s responsibility to report information that happened before they took over. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 102 of 142
Established Contributor

Re: Synchrony


@Saeren wrote:

@CueAyZee wrote:

@Credit_hawk wrote:
I feel bad if they do report and the folks who closed their accounts still get dinged. It’s all on faith they won’t list the account just because they closed it.

It also strikes me as potentially illegal for a bank to re-age your account just because they are the current servicing bank. I find this extremely hard to believe.

You may be on to something. This article suggest you may be right about banks re-aging your account being illegal.

https://rebuildcreditscores.com/steps-to-take-if-an-account-has-been-re-aged/


This is debt collection law. There is no “re-aging” going on here. The account hasn’t reported before, it was serviced by a company that chose not to report, it’s not Synchrony’s responsibility to report information that happened before they took over. 


OK, has anyone heard of a PP Credit account reporting a new opening date? In other words, outside of being hidden before, has anyone suffered from this account?

Message 103 of 142
Senior Contributor

Re: Synchrony


@mikesonthemend wrote:

@Saeren wrote:

@CueAyZee wrote:

@Credit_hawk wrote:
I feel bad if they do report and the folks who closed their accounts still get dinged. It’s all on faith they won’t list the account just because they closed it.

It also strikes me as potentially illegal for a bank to re-age your account just because they are the current servicing bank. I find this extremely hard to believe.

You may be on to something. This article suggest you may be right about banks re-aging your account being illegal.

https://rebuildcreditscores.com/steps-to-take-if-an-account-has-been-re-aged/


This is debt collection law. There is no “re-aging” going on here. The account hasn’t reported before, it was serviced by a company that chose not to report, it’s not Synchrony’s responsibility to report information that happened before they took over. 


OK, has anyone heard of a PP Credit account reporting a new opening date? In other words, outside of being hidden before, has anyone suffered from this account?


The first report and multiple subsequent ones about their plans to report to the bureaus has said September. If it’s going to happen, I’m betting that’s when we will know. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 104 of 142
Community Leader
Super Contributor

Re: Synchrony

First to report officially wins the interwebzSmiley Wink
Message 105 of 142
Contributor

Re: PayPal Credit reporting to the Bureaus ?


@Credit_hawk wrote:
Mine was supposed to cut the 9th. But it didn’t actually cut until the 12th. My statement period said it was 33 days. I’ve since already paid the bill and it processed but it never showed on my credit report.

Thanks - mine was supposed to cut on the 13th. It's the 16th and nada...but maybe tomorrow. 

Message 106 of 142
Established Contributor

Re: PayPal Credit reporting to the Bureaus ?

Check for the email or PayPal tonight. That’s when it hit for me. The evening of the 3rd night.
FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 107 of 142
Frequent Contributor

Re: PayPal Credit reporting to the Bureaus ?

I was told by a rep that they reported me june 13 and now I'm up to my second cycle and nothing.  Don't matter now, the talk of reporting scared me into paying off my 4k balance 2 weeks ago!  If I'm going to have a new account I definitely didn't want a balance.

Message 108 of 142
Established Contributor

Re: PayPal Credit reporting to the Bureaus ?

Yeah. The way I figure it, if it happens it happens. I’m not going to close the account if & until they get rid of the 6 month 0%. At least if the tradeline reports, you can now request easy SP CLI’s to pad your utilization ratio.
FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 109 of 142
Valued Contributor

Re: PayPal Credit reporting to the Bureaus ?


@Credit_hawk wrote:
Yeah. The way I figure it, if it happens it happens. I’m not going to close the account if & until they get rid of the 6 month 0%. At least if the tradeline reports, you can now request easy SP CLI’s to pad your utilization ratio.

I am with ya!

 

Did not close Mine! with SP's I will Be at $35k in no time.

I have talked to 5 different Synchrony Supervisor's (Not Front Line CSR's).

OLD BML Accounts will Report Early as Sept. Late as October.

They ALL said The Exact Same Thing. Mine is still Not Reporting. Knowing Synch, They will offer deals Just like The Amazon Store Card.

I am already getting offer's from them. My Last Promotional Deals run out Sept. 14th. I will pay off those on Sept.10th.

Utilization has no Memory. but Accrued Interest is Painful.

Message 110 of 142
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