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Paypal Mastercard really screwing with me

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shelbytruck
New Member

Paypal Mastercard really screwing with me

I'm learning to dislike them immensely. Quick HIstory - 760+ scores, 35 years credit history, $20K starting limit on this card opened in April.  Two things getting under my skin right now.

 

1) Have spent over $70K on card since opened in April and pay in full or to a diminimis balance each month. Spent almost $30K on card in billing period ending Oct 10th, accordingly made $30K of payments (two separate payments about two weeks apart).  The last payment (pushed by me from B of A like every month before (in other words no new banks, no new people etc..) for $18K on Oct 7 will not release my available credit until Oct 24th!!! This seems ridiculous--how in the world could I claw back funds even a week later never mind two and a half weeks.

 

2) They are inconsistent in that the paper statement of Oct 10th that I can download shows both payments applied as "normal" and shows entire credit line available as of Oct 10TH? How is that possible when online real time shows the reduced amount available and represenative just confirmed the Oct 24th release date---direct contradiction to what the paper statement shows!  How do they get away with such incorrect info on the PDF statement?

 

Thanks for letting me vent

Message 1 of 12
11 REPLIES 11
FireMedic1
Community Leader
Mega Contributor

Re: Paypal Mastercard really screwing with me


@shelbytruck wrote:

I'm learning to dislike them immensely. Quick HIstory - 760+ scores, 35 years credit history, $20K starting limit on this card opened in April.  Two things getting under my skin right now.

 

1) Have spent over $70K on card since opened in April and pay in full or to a diminimis balance each month. Spent almost $30K on card in billing period ending Oct 10th, accordingly made $30K of payments (two separate payments about two weeks apart).  The last payment (pushed by me from B of A like every month before (in other words no new banks, no new people etc..) for $18K on Oct 7 will not release my available credit until Oct 24th!!! This seems ridiculous--how in the world could I claw back funds even a week later never mind two and a half weeks.

 

2) They are inconsistent in that the paper statement of Oct 10th that I can download shows both payments applied as "normal" and shows entire credit line available as of Oct 10TH? How is that possible when online real time shows the reduced amount available and represenative just confirmed the Oct 24th release date---direct contradiction to what the paper statement shows!  How do they get away with such incorrect info on the PDF statement?

 

Thanks for letting me vent


Welcome @shelbytruck 

Making multiple payments inside a billing period with some lenders mess things up. Disco is one for me. I made extra payments and i got it wouldnt be appiled for 7-10 days if i remember correctly. If the first payment didnt clear and you made another one. That may have set off what you describe. Something in Sync's system isnt liking the 2 payments of large amounts. Your not using this for business are you?


Message 2 of 12
Namaste7
Established Contributor

Re: Paypal Mastercard really screwing with me


@shelbytruck wrote:

I'm learning to dislike them immensely. Quick HIstory - 760+ scores, 35 years credit history, $20K starting limit on this card opened in April.  Two things getting under my skin right now.

 

1) Have spent over $70K on card since opened in April and pay in full or to a diminimis balance each month. Spent almost $30K on card in billing period ending Oct 10th, accordingly made $30K of payments (two separate payments about two weeks apart).  The last payment (pushed by me from B of A like every month before (in other words no new banks, no new people etc..) for $18K on Oct 7 will not release my available credit until Oct 24th!!! This seems ridiculous--how in the world could I claw back funds even a week later never mind two and a half weeks.

 

2) They are inconsistent in that the paper statement of Oct 10th that I can download shows both payments applied as "normal" and shows entire credit line available as of Oct 10TH? How is that possible when online real time shows the reduced amount available and represenative just confirmed the Oct 24th release date---direct contradiction to what the paper statement shows!  How do they get away with such incorrect info on the PDF statement?

 

Thanks for letting me vent


OP, I thoroughly understand your frustration. Vent all you need because being reminded of this nuisance irrates me 😂 becauseI experienced the same issue with this card shortly after approval. If IIRC, they will ease up the CL hold after a few months or maybe a year of payment history.

 

While I kept the card open, I do not rely on PPMC as an everyday card or for large purchases because of Synchrony may withhold the credit line if you make multiple large payments in a billing period. 

 

 

~~MMXX~~
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Message 3 of 12
shelbytruck
New Member

Re: Paypal Mastercard really screwing with me

Thanks both.  I suppose the most frustrating thing for anyone is that I know I'm "better" than this and should just move on but the darn finance guy in me keeps saying "you get 3% cash back on all paypal purchases".  I recently went on a spending spree where all my large sellers accepted paypal thus the ~70K spend in 6 months.  I'm in my fifties with over $500K available credit this morning so I dont "need" them but like to use them targeted to the 3% cash back.  I literally just transferred over $2k to my bank account in case I decide to close them down. 

 

I am platimum honors tier with B of A as well so my fall back is my unlimited cash rewards which gets me 2.625% on all purchases.  Not quite the 3% but not too bad for a plan B on paypal purchases.

Message 4 of 12
FireMedic1
Community Leader
Mega Contributor

Re: Paypal Mastercard really screwing with me

I'd ride it out till you get some slack as @Namaste7 posted. They some lenders hold back until they let the chains loose. Might be worth it even thougth your frustrated now. I get a bunch of stuff for that 3%. Nothing close to the amount of what your swiping. Good things come to those who wait.


Message 5 of 12
GatoradeZeroGuy
Valued Contributor

Re: Paypal Mastercard really screwing with me


@shelbytruck wrote:

Thanks both.  I suppose the most frustrating thing for anyone is that I know I'm "better" than this and should just move on but the darn finance guy in me keeps saying "you get 3% cash back on all paypal purchases".  I recently went on a spending spree where all my large sellers accepted paypal thus the ~70K spend in 6 months.  I'm in my fifties with over $500K available credit this morning so I dont "need" them but like to use them targeted to the 3% cash back. 


I've always thought of it as there not being a free lunch anywhere, there's always a sacrifice somewhere kinda thing

 

I learned it wasn't personal when cap1 starting holding back available credit for 3 weeks after cramming $2k in charges on a $500 platinum card 

 

PPMC, being the easiest 2% card to get and a 3% paypal category to boot which is nearly ubiquitous, is great, but in exchange you get outsourced synchrony support, and a hair-trigger fraud team willing to hold payments and cut CL's and close out accounts much earlier than anybody else

 

I imagine BoA wouldn't act like this, and in exchange for that, you only get 2.625% 

Starting FICO 8:

Current FICO 8:

1/6, 5/12, 12/24

Message 6 of 12
Zoostation1
Established Contributor

Re: Paypal Mastercard really screwing with me

Never dealt with Synchrony personally (only have my dad's stories with his Verizon Visa), but Cap One only held one payment ~$1500ish for me, very early on in my second go around with them.  4 days after I called to see what was going on and they were going to hold it another 3-4.  Escalating to a supervisor worked wonders for me, they agreed to release my available credit if I was ok with them making a 3 way call to my bank to confirm the transaction was no longer pending on that end.  Now my available credit usually comes back well before the money even leaves my checking account.  Granted this is a much smaller scale but it was on a card that only had a $2k limit at the time.

Rebuild Started Nov 2021
June 2022 FICO 8:
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Message 7 of 12
Lou-natic
Established Contributor

Re: Paypal Mastercard really screwing with me


@shelbytruck wrote:

I'm learning to dislike them immensely. Quick HIstory - 760+ scores, 35 years credit history, $20K starting limit on this card opened in April.  Two things getting under my skin right now.

 

1) Have spent over $70K on card since opened in April and pay in full or to a diminimis balance each month. Spent almost $30K on card in billing period ending Oct 10th, accordingly made $30K of payments (two separate payments about two weeks apart).  The last payment (pushed by me from B of A like every month before (in other words no new banks, no new people etc..) for $18K on Oct 7 will not release my available credit until Oct 24th!!! This seems ridiculous--how in the world could I claw back funds even a week later never mind two and a half weeks.

 

2) They are inconsistent in that the paper statement of Oct 10th that I can download shows both payments applied as "normal" and shows entire credit line available as of Oct 10TH? How is that possible when online real time shows the reduced amount available and represenative just confirmed the Oct 24th release date---direct contradiction to what the paper statement shows!  How do they get away with such incorrect info on the PDF statement?

 

Thanks for letting me vent


This is because you don't have a "Paypal card" you have a Paypal branded card issued by Synchrony bank. An important distinction and Synch is...shall we say...well they do things on their terms and if you don't like it tough. They aren't going to change for you and it's not going to get better. Synchrony is fickle like that.




3/3/24
Message 8 of 12
Hammer
Established Member

Re: Paypal Mastercard really screwing with me

I have the exact same card with the exact same issue! It takes an enternity for payments and charges to be applied. This seems to be a card that should only be paid once a month.

Message 9 of 12
coreyb80
Super Contributor

Re: Paypal Mastercard really screwing with me

I know the feeling OP.  It happened to me a few weeks ago.  I made a large payment on a measly $1200 limit and they held my available credit for a couple of weeks.  Also happened again on a measly $250 limt on my Venmo card in which I made a payment on $190.  

Message 10 of 12
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