Paypal SmartConnect to PayPal Extra MC question

[merlinflex]

Searched the topic and saw some conflicting info, so hoping for some clarity.

Got the email a few months back about the conversion from Paypal SmartConnect to PayPal Extra MC. Got the letter and card a few weeks ago, but was gone traveling until the weekend.

Questions: 1) Can anyone confirm that it does indeed close down the old account and open a new one? and thus affect AAoA?  2) No guarantee that there is CLI?

Have had my SmartConnect account since Feb 2008 and CL is $7400 and not really sure i want to lose the history and not guarantee that I will get a good CLI.

Says if I do nothing by Sept 30, 2016, it will be closed, the MC, and I can continue to use my old SmartConnect account.  Thoughts? TIA!

[coldnmn]

Yes the SmartConnect will close and MC will replace it. As far as CLI some did I received $1k CLI. As far as AAA, as your letter said the MC will be closed if not activated. My personal opinion activate the MC the SmartConnect will report as a positive TL for 10 years. My thinking easier to explain to creditors then never activating the MC. My score on average went down 6 points easily bouncing back in a few months.

[merlinflex]

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@coldnmn wrote:
the MC will be closed if not activated.

Are you saying the MC is open already? I don't see it on my credit reports, MyFico or CK or any of the other ones.  So at some point that MC will show on my credit reports?

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[injustifiiable]

Here's what happened for me:

• The SC account was closed and the PayPal Extras account showed on my report within a day or so of each other after activating the card. I got my card in early June but the new account showed open date of 5/2016. The usual SYNCB song and dance.
• You can call this number (1-866-300-6432) now and see if the automated system matches an account for you. It should also tell you the limit you have, it should be the same as your SC limit.
• I got a small CLI (+$250) when activating the card. There have been numerous reports of that happening. After that I called Credit Solutions and got it bumped a bit more.

I'd also say go for the upgrade because - at least for me - getting CLI's on the Smart Connect had been a pain in the butt from the get-go. It seems I can get at least $6K on any Dual Card from SYNCB with slightly under-700 scores. Granted if you're over 700, you can probably get a lot more (within their exposure limits of course lol)

[Anonymous]

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@injustifiiable wrote:

Here's what happened for me:

• The SC account was closed and the PayPal Extras account showed on my report within a day or so of each other after activating the card. I got my card in early June but the new account showed open date of 5/2016. The usual SYNCB song and dance.
• You can call this number (1-866-300-6432) now and see if the automated system matches an account for you. It should also tell you the limit you have, it should be the same as your SC limit.
• I got a small CLI (+$250) when activating the card. There have been numerous reports of that happening. After that I called Credit Solutions and got it bumped a bit more.

I'd also say go for the upgrade because - at least for me - getting CLI's on the Smart Connect had been a pain in the butt from the get-go. It seems I can get at least $6K on any Dual Card from SYNCB with slightly under-700 scores. Granted if you're over 700, you can probably get a lot more (within their exposure limits of course lol)

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My experience was very similar with the dates... SC closed, got an email saying the MC was on the way...next day got an alert that new account was reporting with a May date and SC closed with a June date...my SC limit was $300 and my TU was 644 at the time the upgrade actually took place...Got my MC like a week later activated it by phone and upon activation it said congrats your card is active and your new limit is $4k....I wonder would it have went higher now that my TU finally lost all the negatives and collections and reporting at an even 700.

[merlinflex]

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@injustifiiable wrote:

Here's what happened for me:

• The SC account was closed and the PayPal Extras account showed on my report within a day or so of each other after activating the card. I got my card in early June but the new account showed open date of 5/2016. The usual SYNCB song and dance. - I can understand this
• You can call this number (1-866-300-6432) now and see if the automated system matches an account for you. It should also tell you the limit you have, it should be the same as your SC limit. - ok, I will do that
• I got a small CLI (+$250) when activating the card. There have been numerous reports of that happening. After that I called Credit Solutions and got it bumped a bit more. - and that would be what I think would happen to me. I am $7400 right now

I'd also say go for the upgrade because - at least for me - getting CLI's on the Smart Connect had been a pain in the butt from the get-go. It seems I can get at least $6K on any Dual Card from SYNCB with slightly under-700 scores. Granted if you're over 700, you can probably get a lot more (within their exposure limits of course lol) - I have never asked for a CLI on my SC, they just gave them to me randomly over the years.  I also have Amazon Store Card at $10K and Care Credit at $15600, Ashley store card at $4500 and nautilus card at $5800.  The Ashley and Nautilus are clear and paid off. Amazon has $1500.00 on it and Care credit has $2600 on it. Thinking I am already at their max limit so doubtful that they will give me a CLI on the PayPal Xtras MC is what I am thinking. My scores are all 750+ range, but still thinking that I reached my max with them....

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Very very helpful. On the fence still if you look at my input on your points.

[injustifiiable]

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@merlinflex wrote:

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@injustifiiable wrote:

Here's what happened for me:

• The SC account was closed and the PayPal Extras account showed on my report within a day or so of each other after activating the card. I got my card in early June but the new account showed open date of 5/2016. The usual SYNCB song and dance. - I can understand this
• You can call this number (1-866-300-6432) now and see if the automated system matches an account for you. It should also tell you the limit you have, it should be the same as your SC limit. - ok, I will do that
• I got a small CLI (+$250) when activating the card. There have been numerous reports of that happening. After that I called Credit Solutions and got it bumped a bit more. - and that would be what I think would happen to me. I am $7400 right now

I'd also say go for the upgrade because - at least for me - getting CLI's on the Smart Connect had been a pain in the butt from the get-go. It seems I can get at least $6K on any Dual Card from SYNCB with slightly under-700 scores. Granted if you're over 700, you can probably get a lot more (within their exposure limits of course lol) - I have never asked for a CLI on my SC, they just gave them to me randomly over the years.  I also have Amazon Store Card at $10K and Care Credit at $15600, Ashley store card at $4500 and nautilus card at $5800.  The Ashley and Nautilus are clear and paid off. Amazon has $1500.00 on it and Care credit has $2600 on it. Thinking I am already at their max limit so doubtful that they will give me a CLI on the PayPal Xtras MC is what I am thinking. My scores are all 750+ range, but still thinking that I reached my max with them....

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Very very helpful. On the fence still if you look at my input on your points.

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Their exposure limit is $100K across ALL accounts...if you're 750 you can probably get it to at least $10K or more. Credit Solutions will counter, so call and ask for $25K and see what they say. If your report is free of baddies and UTIL is low, you should be good to go.

[merlinflex]

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Their exposure limit is $100K across ALL accounts...if you're 750 you can probably get it to at least $10K or more. Credit Solutions will counter, so call and ask for $25K and see what they say. If your report is free of baddies and UTIL is low, you should be good to go.

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My total credit lines are around $350K and I am about 12% utilized right now after two weeks travel and putting spend through various cards.

[RonM21]

I'm sure having that overall credit cushion to put spend on a long vacation is helpful! That gives you some nice room to play with and be comfortable.

[coldnmn]

I was repeating what your letter stated if MC not activated it would be closed and you could continue using the SmartConnect. It must be opened in order to be closed in my opinion wouldn't it?