cancel
Showing results for 
Search instead for 
Did you mean: 

PayPal credit no longer a hidden tradeline??

Highlighted
Epic Contributor

Re: PayPal credit no longer a hidden tradeline??

ok, Break out The Popcorn!

 

This Just in;

 

JUNE 20th is the Official Cut off Date, That Payapl Credit will have Control.
Starting June 24th  you are 100% in The Hands of Synchrony Bank!
 as I just called and Spoke to a High Tier Rep. (FYI, She Sounded Sad)

I asked about Very Old Accounts Going Back to BillMeLater.

She Gave Me all The Info She Had, and talked about "May Report".

 

This is just Info, and it is, what it is.

Message 61 of 146
Highlighted
Regular Contributor

Re: PayPal credit no longer a hidden tradeline??


@M_Smart007 wrote:

ok, Break out The Popcorn!

 

This Just in;

 

JUNE 20th is the Official Cut off Date, That Payapl Credit will have Control.
Starting June 24th  you are 100% in The Hands of Synchrony Bank!
 as I just called and Spoke to a High Tier Rep. (FYI, She Sounded Sad)

I asked about Very Old Accounts Going Back to BillMeLater.

She Gave Me all The Info She Had, and talked about "May Report".

 

This is just Info, and it is, what it is.


Interesting...

Message 62 of 146
Highlighted

Re: PayPal credit no longer a hidden tradeline??

Interestingly enough, I logged in tonight to make a payment and noticed they had increased my PPC credit limit.  Typically in the past, it's been raised "as I spend" for the most part... but they added $1K to my credit line without any recent spend.  I'm going to hold out in hopes that if it reports, it will report the original open date which will help with AAoA. The wait begins.  I'm definitely paying off my promos asap.

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 63 of 146
Highlighted
Regular Contributor

Re: PayPal credit no longer a hidden tradeline??

Threads like this is why this board is so helpful.

Message 64 of 146
Highlighted
Regular Contributor

Re: PayPal credit no longer a hidden tradeline??

Well I applied 4/25/19. Inq showed up as Synchb/PPC First statement cut already and first payment made. I’m financing some furniture. Has not reported to any of the credit agencies yet. I also have paypal 2% and PayPal business debit. All those showed up quickly. I hope it won’t report for at least another couple of months to get it down below 30%.
Message 65 of 146
Highlighted
Regular Contributor

Re: PayPal credit no longer a hidden tradeline??


@RebuildingIsHard wrote:
Well I applied 4/25/19. Inq showed up as Synchb/PPC First statement cut already and first payment made. I’m financing some furniture. Has not reported to any of the credit agencies yet. I also have paypal 2% and PayPal business debit. All those showed up quickly. I hope it won’t report for at least another couple of months to get it down below 30%.

That might help a bit with the timeline of when they started reporting. I applied on 5/12 and they were reporting 2 days later. I figured there would be at least ONE person on here who would have applied since to share the same story but I guess my post has likely caused people who have seen it to NOT apply. lol

Message 66 of 146
Highlighted
Frequent Contributor

Re: PayPal credit no longer a hidden tradeline??

I received a $1000 increase yesterday as well... 

Message 67 of 146
Highlighted
Frequent Contributor

Re: PayPal credit no longer a hidden tradeline??

I too will be interested in whether they report from the date acct actually opened.  I won't mind keeping it, even though I loved it as a hidden line, especially when making a larger to purchase to payoff during the interest free period.  I guess I will also actually read any recent or future correspondence from them.

Message 68 of 146
Highlighted
Senior Contributor

Re: PayPal credit no longer a hidden tradeline??


@AllCredit wrote:

I too will be interested in whether they report from the date acct actually opened.  I won't mind keeping it, even though I loved it as a hidden line, especially when making a larger to purchase to payoff during the interest free period.  I guess I will also actually read any recent or future correspondence from them.


Im going to keep calling to find out what "Date Open" date they will use. If they use the true actual open date, I will keep the account. If not, I will close it.

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 69 of 146
Highlighted
Established Member

Re: PayPal credit no longer a hidden tradeline??

... language in official notice from Synchrony / PayPal:

We are writing to let you know that Synchrony Bank, the Lender for your PayPal Credit account, will now be servicing your account and is also updating the account terms, which include the Account Agreement, E-SIGN Consent and Privacy Policy applicable to your account.

Unless otherwise specified, the changes listed below will be effective on your account as of June 23, 2019 and are reflected in the Account Agreement ...

Credit Bureau Reporting: Synchrony Bank may report information about your account to credit bureaus. Please refer to the “Credit Bureau Reporting” section for more information ... -

And from within PayPal account dashboard:

Upcoming PayPal Credit Servicing Update
PayPal Credit servicing will be unavailable from June 20 5:00 PM ET to June 24 12:00 AM ET. You can still shop, but you won't be able to make payments, view statements, or see your transactions during this time on our website or mobile app. -

This appears to coincide with the transition to Synchrony servicing the tradelines.

I'd expect we'll all have the account reporting soon after, hopefully and most likely with correct dates.

edit: as others have reported, the account name on my PP Cashback MC was changed to remove the term 'credit' on all reports. At this point I don't think there's any doubt they're pulling the cloak off this tradeline.
Message 70 of 146
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.