cancel
Showing results for 
Search instead for 
Did you mean: 

Anybody else get an email about Paypal changing terms

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Visitor

Re: PayPal CREDIT to report in JUNE ???

Someone may have already answered your question, but just in case...

When a lender reports a new account to the bureaus they are allowed to include 2 years worth of prior history. So let's say on June 1, 2019 Synchrony reports to the bureaus, assuming your account is at least 2 years old, your credit report would show history starting on June 1, 2017.

Personally I don't think Synchrony will report to the bureaus unless the account has chronic late payments or goes into collection. I think they would piss off A LOT of customers by lowering their average age of credit and in the majority of cases negatively impacting their score. However on the flip side, only Synchrony knows what they're going to do and as of now they're not exactly being clear and that doesn't exactly instill confidence...
Message 91 of 179
Member

Re: PayPal CREDIT to report in JUNE ???


@ViaVeritas wrote:
Someone may have already answered your question, but just in case...

When a lender reports a new account to the bureaus they are allowed to include 2 years worth of prior history. So let's say on June 1, 2019 Synchrony reports to the bureaus, assuming your account is at least 2 years old, your credit report would show history starting on June 1, 2017.

Personally I don't think Synchrony will report to the bureaus unless the account has chronic late payments or goes into collection. I think they would piss off A LOT of customers by lowering their average age of credit and in the majority of cases negatively impacting their score. However on the flip side, only Synchrony knows what they're going to do and as of now they're not exactly being clear and that doesn't exactly instill confidence...

It's after June 1st now, when synchrony offically took over.  In the U.K. and Puerto Rico they started reporting to the credit bureaus in those countries./territories.  It just hasn't hit the United States yet. This is according to people reporting it at the bottom of this webpage via DISQUS:  https://www.smartsavvylife.com/does-paypal-credit-report-to-credit-bureaus/

 

 

I'm just curious of when exactly will it hit us?

Message 92 of 179
Member

Re: PayPal CREDIT to report in JUNE ???

 


@Nebob wrote:

@ViaVeritas wrote:
Someone may have already answered your question, but just in case...

When a lender reports a new account to the bureaus they are allowed to include 2 years worth of prior history. So let's say on June 1, 2019 Synchrony reports to the bureaus, assuming your account is at least 2 years old, your credit report would show history starting on June 1, 2017.

Personally I don't think Synchrony will report to the bureaus unless the account has chronic late payments or goes into collection. I think they would piss off A LOT of customers by lowering their average age of credit and in the majority of cases negatively impacting their score. However on the flip side, only Synchrony knows what they're going to do and as of now they're not exactly being clear and that doesn't exactly instill confidence...

It's after June 1st now, when synchrony offically took over.  In the U.K. and Puerto Rico they started reporting to the credit bureaus in those countries./territories.  It just hasn't hit the United States yet. This is according to people reporting it at the bottom of this webpage via DISQUS:  https://www.smartsavvylife.com/does-paypal-credit-report-to-credit-bureaus/

 

 

I'm just curious of when exactly will it hit us?


I contac custom service and they said they will not begin reporting no sooner than September 2019

Message 93 of 179
New Visitor

Re: PayPal CREDIT to report in JUNE ???

Has anyone done a balance transfer recently? I’ve heard they do not allow it now
Message 94 of 179
Regular Contributor

Re: PayPal CREDIT to report in JUNE ???


@ViaVeritas wrote:
Someone may have already answered your question, but just in case...

When a lender reports a new account to the bureaus they are allowed to include 2 years worth of prior history. So let's say on June 1, 2019 Synchrony reports to the bureaus, assuming your account is at least 2 years old, your credit report would show history starting on June 1, 2017.

Personally I don't think Synchrony will report to the bureaus unless the account has chronic late payments or goes into collection. I think they would piss off A LOT of customers by lowering their average age of credit and in the majority of cases negatively impacting their score. However on the flip side, only Synchrony knows what they're going to do and as of now they're not exactly being clear and that doesn't exactly instill confidence...

You may be looking at everything through a distorted lens.  You're only looking at the situation from the vantage point of someone who may not want the account to report.  But I would bet there are countless people with a Paypal credit account who would actually like the account to report and would benefit from it.  Those who have had the account for years with a nice limit and low util could see a nice bump to their score.  But in the end I don't think Paypal will make any corporate decisions based on some people wanting the credit line to be hidden.  Probably isn't even on their radar.

Message 95 of 179
Frequent Contributor

Re: PayPal CREDIT to report in JUNE ???

Any updates on this? So they will report accounts that were opened before they took over? In Sept? June? I'm confused.

 

very disappointing.

Message 96 of 179
Regular Contributor

Re: PayPal CREDIT to report in JUNE ???


@Bees18 wrote:

Any updates on this? So they will report accounts that were opened before they took over? In Sept? June? I'm confused.

 

very disappointing.


No one knows the answer.  It will be "wait and see."

Message 97 of 179
New Contributor

PayPal Credit no longer a Hidden Tradeline?

Hello Everyone,

 

Just wanted to give everyone a heads up. A good friend of mine just applied for a Paypal Credit account was approved and the account was promptly REPORTED to her credit file. Paypal Credit appears to no longer be a hidden tradeline! Im not sure if this only applies to new accounts at this time or if all of them will start to report. Just an FYI

 

 

Current Scores 694 Eq 665 TU 671 Exp
Message 98 of 179
Super Contributor

Re: PayPal Credit no longer a Hidden Tradeline?


@ohnikki39 wrote:

Hello Everyone,

 

Just wanted to give everyone a heads up. A good friend of mine just applied for a Paypal Credit account was approved and the account was promptly REPORTED to her credit file. Paypal Credit appears to no longer be a hidden tradeline! Im not sure if this only applies to new accounts at this time or if all of them will start to report. Just an FYI

 

 


Was it the Mastercard version or the regular paypal credit? I got the MC and it reports as usual. I still wanted the 2% card. Got mixed up on which one reports and which one doesnt when approved.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 99 of 179
Highlighted
Super Contributor

Re: PayPal Credit no longer a Hidden Tradeline?


@FireMedic1 wrote:

@ohnikki39 wrote:

Hello Everyone,

 

Just wanted to give everyone a heads up. A good friend of mine just applied for a Paypal Credit account was approved and the account was promptly REPORTED to her credit file. Paypal Credit appears to no longer be a hidden tradeline! Im not sure if this only applies to new accounts at this time or if all of them will start to report. Just an FYI

 

 


Was it the Mastercard version or the regular paypal credit? I got the MC and it reports as usual. I still wanted the 2% card. Got mixed up on which one reports and which one doesnt when approved.


Really does not Matter, ALL New accounts Report.

PP Credit or PayPal Mastercard both report.

Lately Sync has been Reporting withing about 2-3 days from time of Approval.

Message 100 of 179
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.