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PayPal credit no longer a hidden tradeline??

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Contributor

Re: PayPal credit no longer a hidden tradeline??


@CreditCuriosity wrote:

@atst2000 wrote:

Ok so bad news everyone.  I just called PayPal-Credit and spoke to a CSR.  She was very confident when she gave me this answer by the way.  She said it defintely WILL report to the credit reports starting in August AND will show up as a new account for AAoA and will show only history from June 2019.  So for example it will show on everyone's CR as

 

PAYPALCREDIT/SYNC

Account Opened June 2019

 

Will show history from June 2019-when it report in August 2019 NOT when you opened it (Which for me is 2013).

 

I will be paying off and closing my account before June so not sure what everyone else wants to do, but there you have it Smiley Sad

 

You have until June 19 effectively to close it for it not to report from what it sounds too.


It should have to keep its history or can be disputed as if you report you must report "accurately" and if they don't use the correct open date that isn't accurate reporting in my books.  Just cause they acquired it doesn't get them past that unless to explicity say it will be a new account.  I see possibly alot of mad people me being one of them if this is true and not take it without a fight if i don't have original open date/history


Another option is to proactively close it now instead of wasting time fighting synchrony (and perhaps the CRAs), hoping no other issuers see the new report and creates more fallouts which you may or may not be able to fight, and getting the same result at the end of the day (unless, of course, BML is your only old account and your AAOA is super short).

 

BML doesn't look like a very attractive option anyways, I don't remember how/why I opened one but I do remember that I've never used it.

Message 91 of 146
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Community Leader
Mega Contributor

Re: PayPal credit no longer a hidden tradeline??

@Dinosaur, i split between Citi DC and Paypal for my 2%. Now that i got to my $25 threshold for redemption for the Dc, now ill go back to PP. How to use PPC after this, no clue. I cant spend heavy so just another account hanging in the windSmiley Wink
Message 92 of 146
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Regular Contributor

Re: PayPal credit no longer a hidden tradeline??


@sjt wrote:

@atst2000 wrote:

Ok so bad news everyone.  I just called PayPal-Credit and spoke to a CSR.  She was very confident when she gave me this answer by the way.  She said it defintely WILL report to the credit reports starting in August AND will show up as a new account for AAoA and will show only history from June 2019.  So for example it will show on everyone's CR as

 

PAYPALCREDIT/SYNC

Account Opened June 2019

 

Will show history from June 2019-when it report in August 2019 NOT when you opened it (Which for me is 2013).

 

I will be paying off and closing my account before June so not sure what everyone else wants to do, but there you have it Smiley Sad

 

You have until June 19 effectively to close it for it not to report from what it sounds too.


I think the CSR you spoke too did not give you accurate information. It was "here say" on their part. Several folks had recently spoke with Customer Service and all those CSR told them they did not have any information on how Sync would report these accounts.



Not hearsay...I called back today and got a different CSR, Sync made a communication to the reps as they were getting a ton of calls and they have made a decision.

 

It's real folks, up to you if you want to keep it open and have it report.  For me I am not taking that chance and will be closing by end of this month.

Message 93 of 146
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Senior Contributor

Re: PayPal credit no longer a hidden tradeline??

So you confirmed that the open date is not going to be the actual open date of when the account was opened.
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Message 94 of 146
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Established Contributor

Re: PayPal credit no longer a hidden tradeline??

I’ll roll the dice and keep it open. They’ve been handling the accounts for a year now. If it reports it reports I guess.
FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 95 of 146
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Regular Contributor

Re: PayPal credit no longer a hidden tradeline??


@sjt wrote:
So you confirmed that the open date is not going to be the actual open date of when the account was opened.

Please re-read my original post.

Message 96 of 146
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Super Contributor

Re: PayPal credit no longer a hidden tradeline??

I don’t think they have any obligation whatsoever to report the original opening date. If the account had been reporting with another lender like a mortgage transfer, then I could see the mandate for them to report the original open date, but as I have had student loans get transferred with a new opening date multiple times, I’m not even convinced that they have to do it at all. 

 

If you are worried about it, I would close it now and wait for the fallout to be over with. I mean you can always get it again later if you decide the hit is worth it. 




Message 97 of 146
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Regular Contributor

Re: PayPal credit no longer a hidden tradeline??

The ironic thing about all this is I could potentially have my new acct reporting as open longer than everyone who has had them for ages. In retrospect, I doubt I would have opened it if I knew it was going to report immediately....or at all. I definitely did it for the hidden tradeline

Message 98 of 146
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Super Contributor

Re: PayPal credit no longer a hidden tradeline??

Yup that’s definitely true. 

 

People are going to be really ticked with Sync no matter how this plays out unfortunately. 




Message 99 of 146
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Contributor

Re: PayPal credit no longer a hidden tradeline??


@Saeren wrote:

Yup that’s definitely true. 

 

People are going to be really ticked with Sync no matter how this plays out unfortunately. 


Not like Sync is inexperienced at ticking people off or fighting with ticked off people Smiley Wink

Message 100 of 146
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