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Why people can get their paypal credit up to 10k?

DotaK
Contributor

Why people can get their paypal credit up to 10k?

Why people can get their paypal credit up to 10k? Mine is still sitting in the weird number of 1524 for my paypal credit. They always denied my CLI even my score is 773. So sad! Where I did wrong?

7 REPLIES 7
dragontears
Valued Contributor

Re: Why people can get their paypal credit up to 10k?


@DotaK wrote:

Why people can get their paypal credit up to 10k? Mine is still sitting in the weird number of 1524 for my paypal credit. They always denied my CLI even my score is 773. So sad! Where I did wrong?


Like the answers to all your other posts, you need more time. You recently paid off high utilization, <1 month of paid off accounts is not going to erase all the months where you had high utilization with your current lenders. 

The odd number CL indicates that at some point they CLD you. It takes time to build trust that you are not going to rack up debt again. 

Scores hover around 800
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Rome was not built in a day, neither is a good credit profile
Message 2 of 8
KatSoDak
Frequent Contributor

Re: Why people can get their paypal credit up to 10k?

The denial letters you get when a CLI is not granted should tell you why you were denied.  Some things you can change, like balances too high, but some things, like time since opened, you just have to accept. 

 

Also Synchrony Bank closes cards too. You may be seeing posts from people getting limit increases but have you read the Synchrony closing thread of posts?  Not everyone is getting increases.

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Message 3 of 8
SecretAzure
Valued Contributor

Re: Why people can get their paypal credit up to 10k?


@dragontears wrote:

@DotaK wrote:

Why people can get their paypal credit up to 10k? Mine is still sitting in the weird number of 1524 for my paypal credit. They always denied my CLI even my score is 773. So sad! Where I did wrong?


Like the answers to all your other posts, you need more time. You recently paid off high utilization, <1 month of paid off accounts is not going to erase all the months where you had high utilization with your current lenders. 

The odd number CL indicates that at some point they CLD you. It takes time to build trust that you are not going to rack up debt again. 


Absolutely this. I got decreased to 2524 on one of my cards from Sync. The balance was instantly restored once I used a purchase on the card. I wouldn't flat out stop using the card though. I am absolutely not an expert, especially when it comes to Sync despite having 2 cards, but I would throw a small recurring fee on it for the next 3 months and then ask for a CLI if none come automatically. Who knows what impression they could get for leaving it at $0 after having high utilization.

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Message 4 of 8
aj2121
Frequent Contributor

Re: Why people can get their paypal credit up to 10k?


@KatSoDak wrote:

Also Synchrony Bank closes cards too. You may be seeing posts from people getting limit increases but have you read the Synchrony closing thread of posts?  Not everyone is getting increases.


This is a big thing to keep in mind! When I had high utilization on my accounts, approaching 80% overall, Synchrony started balance chasing a few of my cards and decreased my limits, as much as 50% on one of my cards.  I am thankful they didn't close my accounts.

IMO, continue to manage credit wisely and try for CLIs every month. Synchrony is a SP, so it doesn't hurt.

FICO8 as of 4/9/21:
Message 5 of 8
ImTheDevil
Community Leader
Super Contributor

Re: Why people can get their paypal credit up to 10k?


@aj2121 wrote:

@KatSoDak wrote:

Also Synchrony Bank closes cards too. You may be seeing posts from people getting limit increases but have you read the Synchrony closing thread of posts?  Not everyone is getting increases.


This is a big thing to keep in mind! When I had high utilization on my accounts, approaching 80% overall, Synchrony started balance chasing a few of my cards and decreased my limits, as much as 50% on one of my cards.  I am thankful they didn't close my accounts.

IMO, continue to manage credit wisely and try for CLIs every month. Synchrony is a SP, so it doesn't hurt.


I wouldn't do this indiscriminately with the way Synch has been dropping the axe on people. Best to tread very lightly with them these days.



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Message 6 of 8
RickNATL
Established Contributor

Re: Why people can get their paypal credit up to 10k?

I am trying to get past $10K...LOL...any ideas?

Message 7 of 8
KLEXH25
Valued Contributor

Re: Why people can get their paypal credit up to 10k?


@RickNATL wrote:

I am trying to get past $10K...LOL...any ideas?


You have to call in if you want to go higher than $10k. 



Message 8 of 8
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