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Synchrony Paypal 2% reporting non-stop

patoot10
Frequent Contributor

Synchrony Paypal 2% reporting non-stop

My paypal 2% card usually reports once a month when the statement closes.

 

Recently I requested a change to my due date so my current statement is running longer than a month to accomodate that change but I noticed that the card has been reporting every single time the balance changes either by a purchase or a payment. I use the card frequently as a catch-all and everytime I check my report through the month it has a different balance.

 

I checked my other synchrony accounts and none of them are doing that.

 

Does anyone has experience with that ? Did something change with Paypal 2% reporting on your end ?




Message 1 of 6
5 REPLIES 5
Credit12Fico
Frequent Contributor

Re: Synchrony Paypal 2% reporting non-stop

Yes that would seem to be the case for some other users also:

https://ficoforums.myfico.com/t5/Credit-Cards/Why-does-my-PPMC-EQ-report-update-daily/td-p/6080572 

 

In that thread, it seems as though the credit score is not effected. Is your credit score effected? Or just the balance?

 

In any case, most of the other big lenders are only soft pulling you once a month, so they effectively won't see your daily shopping trips to walmart and wherever else you frequent before the billing cycle closes.

Message 2 of 6
gdale6
Moderator

Re: Synchrony Paypal 2% reporting non-stop

I have seen reporting of all my Synch accts each time the statement date hits on one of them but not daily. They must have money to burn as it costs money each time a report is made. Im not impressed with this bank anymore since its divesture from GE

Message 3 of 6
recoveringfrombk7
Established Contributor

Re: Synchrony Paypal 2% reporting non-stop


@gdale6 wrote:

I have seen reporting of all my Synch accts each time the statement date hits on one of them but not daily. They must have money to burn as it costs money each time a report is made. Im not impressed with this bank anymore since its divesture from GE


It is bizarre to me to spend money on this when they are seemingly struggling/closing accounts.









Message 4 of 6
AddictedToApprovals
Frequent Contributor

Re: Synchrony Paypal 2% reporting non-stop

Literally every single day, sometimes twice a day. Always Equifax.

EX: 810 F8 - 3 inquiries
EQ: 802 F8 - 2 inquiries
TU: 799 F8 - 7 inquiries

Message 5 of 6
longtimelurker
Mega Contributor

Re: Synchrony Paypal 2% reporting non-stop


@recoveringfrombk7 wrote:

@gdale6 wrote:

I have seen reporting of all my Synch accts each time the statement date hits on one of them but not daily. They must have money to burn as it costs money each time a report is made. Im not impressed with this bank anymore since its divesture from GE


It is bizarre to me to spend money on this when they are seemingly struggling/closing accounts.


Does it cost to report?   Or just to get the data?   After all, they need the data in order to sell report/scores, so charging issuers to provide the data would be a little strange.

Message 6 of 6
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