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PayPal credit no longer a hidden tradeline??

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Regular Contributor

Re: PayPal credit no longer a hidden tradeline??

Trust me...I didn't want to be the one to start this thread!! Just my luck. Maybe Disco will hit me with that CLI in a few days to ease the pain! hahaha

Message 31 of 146
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Frequent Contributor

Re: PayPal credit no longer a hidden tradeline??


@slither43 wrote:

For the record, as of today it is now reporting on all 3 bureaus. Yay. So much for my hidden tradeline! I'd imagine it's just a matter of time before they start reporting all the existing accts as well


I guess you saved me from a HP :eyes:

MSGCU Rewards | $5k | 10/2/2020 | 9.25% APRDiscover Student Cash It | $4,550 | 1/4/2019 | 12.99% APRAmex 1.5% CB | $3.9k | 7/3/2019 | 20.99% APRBest Buy Store Card | $3kChase Student Card | $1.2k | 4/10/2020 | 14.99% APRDiscover Cash It | $1,500 | 10/2/2020 | 20.99% APRCiti DC | $3.5k | 10/14/2020 | 16.99% APRDCU Platinum | $8k | 10/21/2020 | 8.5% APR

Loans
Ford Credit Car Loan 3-year 7/31/2018 ($199.26/month)
$8,000 DCU Personal Loan 5-year 5.99% 10/2/2020 ($155.38/month)

Closed
Michigan Schools & Gov't CU Titanium 1/4/2019 - 10/2/2020

Future Potenital Cards
AOD 3%
Gas Card 4% or 5%
Dining & Enterainment 3%
Amazon 5%
USBank Cash 5%
BOA Cash Rewards (if it ever goes back to Mastercard)
Message 32 of 146
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Super Contributor

Re: PayPal credit no longer a hidden tradeline??

Well, I will be keeping an eye on this. Mine will be paid to zero in August.

 

I don't think I will use it anymore until the rules are clear.


Message 33 of 146
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Frequent Contributor

Re: PayPal credit no longer a hidden tradeline??

I got something in the mail stating they may begin reporting to bureaus.

I guess may means will. 

 

Ugh!!i have like 50% util on this. 

Message 34 of 146
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Epic Contributor

Re: PayPal credit no longer a hidden tradeline??

I have had my Hidden paypal credit TL, since it first became available.

I have pushed The Limit a few times, it sit's currently @ a little under $7400

and im using 99% at 0% Until Sept. (Rare Coin Purchases.)

 

I just checked My CRA's, Nothing Showing on ALL "3"

 

I am not really worried about it, "IF" They do report, it will add to My AAoA

I want to see how they do it, because if they report it wrong,

then they are going to have some issues.

 

So Far, I have only seen a Few Report, and they are strictly new Accounts.

 

again, not worried. not going to run out and pay it to ZERO!

 

Having 1 Account Report at 99%, probably wont move my Score much;

Open Credit Cards
18
Open Retail Cards
4

You have 10 Closed Accounts

 

Message 35 of 146
Highlighted
Moderator

Re: PayPal credit no longer a hidden tradeline??


@M_Smart007 wrote:

I have had my Hidden paypal credit TL, since it first became available.

I have pushed The Limit a few times, it sit's currently @ a little under $7400

and im using 99% at 0% Until Sept. (Rare Coin Purchases.)

 

I just checked My CRA's, Nothing Showing on ALL "3"

 

I am not really worried about it, "IF" They do report, it will add to My AAoA

I want to see how they do it, because if they report it wrong,

then they are going to have some issues.

 

So Far, I have only seen a Few Report, and they are strictly new Accounts.

 

again, not worried. not going to run out and pay it to ZERO!

 

Having 1 Account Report at 99%, probably wont move my Score much;

Open Credit Cards
18
Open Retail Cards
4

You have 10 Closed Accounts

 


I agree with you here.  If PayPal Credit is beneficial...use it.  Shy of applying for a mortgage than I wouldn't really care what the utilization of this (or any other card) is.  Assuming that one isn't maxed or near maxed on other card then one card showing high utilization *shouldn't* cause too much concern for other lenders....and if one card showing high utilization causes concern then you're probably better off without having a skittish institution of such in your wallet anyway.  

 

Optimize for a mortgage or if you're planning to apply for any new credit where the lender could be sensitive to high balances.  For me, I've already purchased my home, have most of the cards that I want so the only thing I can see myself applying for is an auto loan which I tend to do every 2-3 years anyway.  And even still you can get a decent auto loan rate with mid to high 600's...heck PenFed evening tossed me 3.x rate a few years ago and thats with my BK13 still alive and well on my report.

 

It has been said many times around these here parts that credit is a tool...use it accordingly and don't sweat the rest.  Gone are the days of me living to satisfy a scoring algorithm...especially if know for fact that I'm not applying for anything that would be super sensitive to an increase balance on a specific account.  

Message 36 of 146
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Established Contributor

Re: PayPal credit no longer a hidden tradeline??

Just checked my Experian report (today's) no sign of my Paypal account. When I do a tri-report in 2 days I will post my findings.

Discharged BK7 - 7.16.15
Current Fico8 - (09.15.20) EX - 676/EQ - 669/TU - 671
Total CL - $250,862.
Message 37 of 146
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Re: PayPal credit no longer a hidden tradeline??

This is from the Paypal Credit community:

 

"A communication was sent explaining the updated terms on your account, including that your account may be reported to the Consumer Credit Bureaus.  Effective no sooner than September 2019, Synchrony will begin reporting most PayPal Credit accounts to the four major credit bureaus as most credit companies do."

When you do start reporting, will you report my entire credit history with you, or just current standing?

"When Synchrony begins reporting accounts to the credit bureaus only payment history as of the date Synchrony began servicing the accounts in June 2019 will be provided.  Payment history prior to the date Synchrony began servicing the accounts will not be provided."

As of 5/8/19
Fico 8: EX 706, EQ 729, TU 739. Vantage 3.0 763 TU/EQ (hoping for a decent increase during 6/2019 update due to large drop in utilization)
Capital One Venture Card- 12500, Discover IT Cash Back- 6500, Ebates Visa - 8500, Chase FU - 2000, American Express Everyday - 3000, Ulta MC - 2800, Lowe's - 15000, Barclaycard - 2200, Amazon - 5000, Paypal Credit - 5400, HSN - 6050, Overstock - 3000, Care Credit - 2000, Discover IT Chrome - 8500, Amex Cash Magnet - 7200
1 installment loan through Enerbank 4,600
Wells Fargo Mortgage for 17 years
Message 38 of 146
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Super Contributor

Re: PayPal credit no longer a hidden tradeline??

That’s going to be a nasty surprise for so many. 




Message 39 of 146
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Regular Contributor

Re: PayPal credit no longer a hidden tradeline??

I guess I don't feel quite as bad now considering it actually was a new acct for me. Kinda feel for the people who have had it for years and now it will basically report as a new acct anyway

Message 40 of 146
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