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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??

Including Sync.  A lot, including me will payoff and close rather then have a 3 month old account appear outta nowhere....  Which is a bummer cause I had BillmeLater since 2012.  If they would report the full history I would love to keep it, but alas PayPal and I have reached the end of our journey together.






Message 41 of 146
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Super Contributor

Re: PayPal credit no longer a hidden tradeline??


@slither43 wrote:

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


Yeah... that’s just going to be awful when people get those credit alerts. 




Message 42 of 146
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Valued Contributor

Re: PayPal credit no longer a hidden tradeline??

This guarantees that I will be closing the account. I actually forgot I had one.
Bourbon and bow ties.
Current Cards:



2020 Goals:
$100K total CL (through organic/soft pull growth; COMPLETE!)
750+ across bureaus
No real goal cards for now
Garden Forever.
Message 43 of 146
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Moderator

Re: PayPal credit no longer a hidden tradeline??

I suppose what remains to be seen is whether SYNCB will report the original open date on CRs.  While some of the [PPC community] info shared upthread implies the entire credit history will not be provided prior to September 2019, it's possible that such history may reflect as N/A?   I guess we'll see how PPC reports in the next few months Smiley Tongue

Message 44 of 146
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Re: PayPal credit no longer a hidden tradeline??

I agree...our oldest accounts don't show the full history yet do report the date opened. Since we opened the account with BML or PPC, that date may very well show up and if not, could likely be disputed...albeit not quickly since this change will likely find them inundated with disputes. I'm hanging on with the hope the original date will report. The other question is, how they will report. It is not a revolving account, but rather a line of credit. Again, how they handle this will be interesting. It may give me the push to go for the Paypal MC in Sept, and close PPC, which will essentially could be a useless account to me depending how it reports.
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 45 of 146
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Community Leader
Mega Contributor

Re: PayPal credit no longer a hidden tradeline??

If this account reports it really wont be useful to me in that hidden allows a few purchases i may want to float without reporting. The only possible upside is maybe easier to get credit increases?
Message 46 of 146
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Epic Contributor

Re: PayPal credit no longer a hidden tradeline??

Ok, so I just Got (2) Karma Alert's

 

so I checked all (3) Major CRA's, They Changed My old PayPal Extra's Mastercard title from Saying Pay Pal to what you see

in the Pictures. My Guess is they are clarifying before they report, just a guess. so far NO Pay Pal Credit Account Reporting.

my promotional Finance period ends in September, I believe They stated They will begin Reporting Sept. 19th?

i will have to go back and read again? (I may edit this to reflect such)

 

So Far TU and EQ are showing the change in The Credit Card Title "Verbage" again NOTHING being Reported on The Hidden TL.(Yet)

 

The (2) Pictures are For The Synch Pay Pal "CREDIT CARD" and NOT The Hidden TL.

I agree, That if they don't report the opening date, I will be Disputing as Being Reported Wrong,

I am not looking Forward to this, maybe we should ALL start Calling Synchrony Bank, and stating that,

if they Report incorrectly, that we will close our accounts.

any thoughts from the Experts on incorrect reporting?

what would be our recourse on incorrect Reporting?

 

I personally am Going To Call A Synch Supervisor, should we start sending Letter's to The EO's Office Now?

 

if it reports as a "NEW" account, for Most, this will affect our age of Youngest, Oldest and ALL Accounts.

 

sorry for Typo's, not fully awake yet.

Message 47 of 146
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Moderator

Re: PayPal credit no longer a hidden tradeline??

Before jumping the gun with any unnecessary and counter-productive efforts, it would behoove any accountholder to see how the CRAs report the PPC accounts.

There's no point in flooding the EO, CSRs or escalating when there's no evidence that supports the "incorrect" reporting. Just keep in mind that not everyone will be closing their accounts, perhaps some folks might, but for a variety of individuals outside of myFICO, it literally will be a non-event.
Message 48 of 146
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Senior Contributor

Re: PayPal credit no longer a hidden tradeline??

As of today (5.21.19), My PPC account is not reporting to any of the CRA. I called PPC about the potential reporting and the CSR confirmed that they will start to report next when Sync completes the takeover. They could not confirm what "date opened" date they will use. They should know more in the next couple of weeks. They should use the actual date you opened the account, which would be beneficial in my case. 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (8.12.20) EX: 835 / EQ: 846 / TU: 834
Message 49 of 146
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Epic Contributor

Re: PayPal credit no longer a hidden tradeline??


@sjt wrote:

As of today (5.21.19), My PPC account is not reporting to any of the CRA. I called PPC about the potential reporting and the CSR confirmed that they will start to report next when Sync completes the takeover. They could not confirm what "date opened" date they will use. They should know more in the next couple of weeks. They should use the actual date you opened the account, which would be beneficial in my case. 


Thank You For The Update!!!

Message 50 of 146
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