PayPal credit no longer a hidden tradeline??

[Anonymous]

So sad to hear all of this. I loved using PPC for all the flexibility it offered. If it does report as a new account, I will probably close it as well...

That being said, here is something to note: Synchrony appears to be very open to CLIs through soft pulls. For anyone who has a high util, it might be worth calling/web chatting them up and asking for an increase. That could help offset that blow. I have 2 accounts with synchrony (eBay MC, Amazon Store Card), and they increased both limits with soft pulls.

Not holding my breath for this, but perhaps synchrony could report the accounts, but without the credit limits - sort of how (I’ve heard) charge cards report. It’d report a balance but wouldn’t factor into utilization. If that were the case, I might end up keeping the acc around... 

[slither43]

Actually, it DOES report the credit limit so that isn't going to be the case...

[JasonFB]

applied for PayPal credit on monday, approved instantly and already reported this Wednesday morning FYI. They also pulled TU. 

[credit_endurance]

Yes. This has certainly been predicted to eventually happen awhile ago. I got mine around a year ago after being denied the previous year. $5.5k CL. Never really maxed it out. Soon as Sync got a portion of a handle on it you saw all the really good promos come to an end. Like 0% for 6 months on $99 and up purchases.No payments .Now mandatory payments monthly. I have a few promos expiring next month so will pay them off and probably keep mine open. It will only help with my utili padding.Not really worried about a new account reporting, But will definitely be disputing an (accurate) open date with the CRA’s. 

[sjt]

I sent an email to Sync asking for clarification on account transfers last Sunday. I received a callback today from their Corporate Consumer Relations Department. They informed me that all PPC accounts transferred to them will be reported to all CRA with the actual date that the account was originally opened.

The representative was pretty firm about this, however, she will confirm it and get back to me. 

[Anonymous]

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@Anonymous wrote:

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@AllCredit wrote:

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@Anonymous wrote:

It really doesn’t make sense because you’re asking them to report information about an account they didn’t previously service. It can much more easily be argued that reporting as of September is more accurate than backdating it is. 

I don’t see people being successful with getting the dating changed so I hope the people who don’t want it to happen close their accounts before it does. 

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But there is no guarantee that closing before...June 19th-ish(?) would keep it from reporting since technically they have already taken over the accts? ...right?

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It doesn’t seem that they have become the full servicer yet, especially since they will have down time where nobody can access the portal to even make payments, so I would imagine that accounts closed before that date won’t report. Anything is possible. Only Sync knows and it seems they have handed out talking points to their CSRs about the transition. 

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I have this nagging feeling that it will report but as closed account. I may be wrong however did Sync started the takeover back in July 1st 2018? If that's the case then the ship had sailed for closing accounts to avoid reporting to CRA? I am in process of considering closing my PPC account however if Sync going to report the account regardless if it open or closed? 

[jaxstraw]

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@sjt wrote:

I sent an email to Sync asking for clarification on account transfers last Sunday. I received a callback today from their Corporate Consumer Relations Department. They informed me that all PPC accounts transferred to them will be reported to all CRA with the actual date that the account was originally opened.

The representative was pretty firm about this, however, she will confirm it and get back to me. 

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'with the actual date the account was originally opened'.....

Well that certainly is a positive turn if correct.

I would have to think that Corporate Communications is a more reliable source than a CSR on the phone.

Thanks for the info.

[Anonymous]

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@sjt wrote:

I sent an email to Sync asking for clarification on account transfers last Sunday. I received a callback today from their Corporate Consumer Relations Department. They informed me that all PPC accounts transferred to them will be reported to all CRA with the actual date that the account was originally opened.

The representative was pretty firm about this, however, she will confirm it and get back to me. 

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That's awesome news!

So most of us can expect a decent bump in our AAoA.

[Anonymous]

Having been a rider on the PayPal bus the following transitions has occurred.

1) PayPal credit line (not BillMeLater) was converted to a PayPal MC

     a) The PayPal credit was closed - Listed as closed/transferred -

     b)  The PayPal MC reporting came online as a "New Account" --  Dated the same day as PayPal Credit was listed as closed/transferred.

My guess is the same will occur this time...  example below

Old trade line reporting:

BillMeLater/PayPal Credit   Open:  09/2012   Closed: 06/2019    Status:  Closed/transferred

New/Current Trade line reporting:

SYNC/PayPal Credit              Open: 06/19 - Current

That gets accurate reporting accomplished, BUT  1 new Open Account + 1 Closed Account,  and for some...  a horrible UTIL surprise

I just PIF the balance 90% UTIL and will close it up once the payment is cleared.  Not taken a chance, a new account would screw me with any 5/24 lenders I am eyeing.   I have: 2 inq, both TU - 0 inq EX  - 0 inq EQ  in 3 years.   

Eyeing US Bank OR AMEX OR Chase  for #3

NFCU Plat = #4

Followed by me and my shovel headed into the garden for a few more years  

[codefreak13]

As of today, have we had any reports of existing accounts getting newly reported? I understand the consensus was 'in September'. My statement just cut and I missed paying it off, so trying to determine if the balance will report in the next couple days (aka they do them all at once) or if they just report when Septembers' cuts.