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Anybody else get an email about Paypal changing terms

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Community Leader
Senior Contributor

Anybody else get an email about Paypal changing terms

My dh got email, I have not yet but there seems to be some changes coming.

 

Some highlights:

Late Payment Fee: We are increasing the dollar amount to $28.00 (or $39.00 if you failed to pay at least the Minimum Payment Due by the Payment Due Date in any one or more of the prior six Billing Cycles). See the “Fees” section for more information.  Not that we are ever late

Minimum Payment Due: We are increasing the dollar amount used in calculating the Minimum Payment Due for Standard Purchases, Cash Advances, and No Interest if paid in full purchases to $28.00 (or $39.00 if you failed to pay at least the Minimum Payment Due by the Payment Due Date in any one or more of the prior six Billing Cycles). See the “Minimum Payment Calculation” section for more information.

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.

Does anything think this means they may start reporting the tradeline? The reason I think this might possible  is because it is listed as "changes to your account", I have a feeling these tradelines won't be hidden much longer.

 

 

 

EXP 760 TU 781 EQ 733
Message 1 of 179
178 REPLIES 178
Community Leader
Super Contributor

Re: Anybody else get an email about Paypal changing terms

I got almost the same letter from Macy’s so I do think Lenders are beginning to up the ante. Someone said last week that Disco sent an email about some changes but I haven’t received one from them yet. 

 

Also, I think PayPal will remain a hidden TL. I think it was mentioned so customers know in the case of a default, it will be reported to the CRBs. 

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 2 of 179
Community Leader
Senior Contributor

Re: Anybody else get an email about Paypal changing terms


@CreditInspired wrote:

I got almost the same letter from Macy’s so I do think Lenders are beginning to up the ante. Someone said last week that Disco sent an email about some changes but I haven’t received one from them yet. 

 

Also, I think PayPal will remain a hidden TL. I think it was mentioned so customers know in the case of a default, it will be reported to the CRBs. 


Thanks I hope so, I just found it odd that it was in bold in regards to they "may" report under synchrony bank, but I do hope you are correct. I just went over my line and got the CLI and intend to pay off with  the 0% in six months deal, don't need a max line showing lol.

EXP 760 TU 781 EQ 733
Message 3 of 179
Super Contributor

Re: Anybody else get an email about Paypal changing terms

I got an email last night but whenever I click the link to go to the policy updates page, it shows the ones that went into effect March 29th. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 4 of 179
Valued Contributor

Re: Anybody else get an email about Paypal changing terms

I actually wouldn't be too upset if they report my PP Credit account as long as they use the original opening date. I've had that account for a LONG time, so I think it could be a good thing to add an ancient trade line to help balance all my new accounts.

AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 5 of 179
Moderator

Re: Anybody else get an email about Paypal changing terms

Kind of reminds me of similar (inevitable) efforts by BMO Harris with the Diners Club CCs several years ago since those started out as non-reportable tradelines. Similar [statement] disclosure per se.

I suppose we'll find out sooner or later if PayPal Credit starts reporting to the CRAs...or not 😄
Message 6 of 179
Moderator

Re: Anybody else get an email about Paypal changing terms

That reporting statement has been around for quite some time, that part isn't new.

Message 7 of 179
Established Contributor

Paypal Changes!

I just got an email that Synchony is taking over Paypal accounting.  In the notice it states that Synchrony will be reporting to CRA's.

 

No more hidden credit line!

 

Anyone else get this email?

Message 8 of 179
Community Leader
Senior Contributor

Re: Paypal Changes!

DH got email, I posted yesterday about this and it states "it may" so as others have said , this may be referring to how they report if you are late etc.

 

I guess we will have to wait and see. 

 

 

EXP 760 TU 781 EQ 733
Message 9 of 179
Highlighted
Valued Contributor

Re: Paypal Changes!

OP Synchrony has been managing for almost a year.

This is most likely for NEGATIVE reporting....





Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000. Waiting on them to all report over the next month... Only Kohls is reporting so far... WITH AGE. They use AZEO method.
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Message 10 of 179
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