Anybody else get an email about Paypal changing terms

[Anonymous]

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@M_Smart007 wrote:

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@FireMedic1 wrote:

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@Anonymous 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

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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.

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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.

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2-3 days? Experian shows up next day. Ask me how I know. 🤣 

[Anonymous]

I personally hope it does report. This is one of my oldest and largest tradelines. Reporting will bump my AAoA considerably.

I suggest everyone go and save a copy of their oldest 2 statements from the current web-portal before the system goes down on the 20th. This way you have proof of the accounts original opening date if future disputes are required.

[Anonymous]

The PayPal Credit takeover/rollover/merger from PayPal to Synchrony Bank, which started on the 20th, finished last night at 12am. Browsing through the site everything looks pretty much the same aside having to swap from PayPals website over to one hosted by Synchrony whenever you click on the PayPal Credit section inside your PayPal account. Handy little 'Request Credit Line Increase' button and inside the 'Contact Us' section there is a live chat support!

I went right into a live chat session and after updating my accounts due date I proceeded to ask the agent 'It is to my understanding that Synchrony will begin reporting my PayPal Credit to the 3 credit bureaus, do you know when this is scheduled to begin and if possible can you just go ahead and send an update of my account information to the 3 bureaus now?'. The agent told me all accounts will report on the accounts due date (they then referenced my NEXT due date), then they told me they would go ahead and schedule an update for my account tomorrow (which is not my due date).

So it seems like this agent confirmed that accounts will report and they possibly eluded to the fact that they will begin reporting IMMEDIATELY on their next scheduled due date.

Someone else might want to start up a live chat session and try to dig some more detailed information out. Post back here if you find anything.

[Anonymous]

Hi. This is my first post here but I’ve been following this thread ever since I first heard that Paypal credit would start reporting.

I called this morning to make a payment and the agent had no idea what I was talking about when I asked about credit reporting. She said that synchrony credit reports every month. Her supervisor had no idea what I was talking about as well.

I’ll add that my account was seriously delinquent up until last week. I don’t know if this has anything to do with it, but today was the first time that I spoke to someone overseas. Everyone who I talked to previously was in the states. Those agents told me that they didn’t have an exact date for when synchrony would start reporting.

Today’s payment was also debited from my account as “synchrony bank”...all previous payments showed up as “Paypal”

[Anonymous]

Does anyone know if it is possible to do a balance transfer now that synchrony has taken over?

[M_Smart007]

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@Anonymous wrote:

Does anyone know if it is possible to do a balance transfer now that synchrony has taken over?

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give them a call or Chat.

[Gonzozap]

Interesting that the new site allows CLI requests, but does not say anything about whether a credit report will be pulled.  I thought a creditor was obligated to tell a consumer if a credit report will be accessed.

Hmmm.

[M_Smart007]

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@Gonzozap wrote:

Interesting that the new site allows CLI requests, but does not say anything about whether a credit report will be pulled.  I thought a creditor was obligated to tell a consumer if a credit report will be accessed.

Hmmm.

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it is a SP

[Anonymous]

This is my first post, but I have been following this community for years.  I can confirm that paypal is reporting to the credit bureas monthly.

I was approved for a credit line with paypal credit not their mc at the beggining of May 2019.  I check my credit quite frequently through experian and on June 3, 2019 paypal reported my balance.  I also noticed that there is a cli button and I've read many post that says that you had to do a shopping cart trick to get an increase of your credit line.  So I guess that's a new change with Synchrony taking over.

[Anonymous]

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@Anonymous wrote:

The PayPal Credit takeover/rollover/merger from PayPal to Synchrony Bank, which started on the 20th, finished last night at 12am. Browsing through the site everything looks pretty much the same aside having to swap from PayPals website over to one hosted by Synchrony whenever you click on the PayPal Credit section inside your PayPal account. Handy little 'Request Credit Line Increase' button and inside the 'Contact Us' section there is a live chat support!

I went right into a live chat session and after updating my accounts due date I proceeded to ask the agent 'It is to my understanding that Synchrony will begin reporting my PayPal Credit to the 3 credit bureaus, do you know when this is scheduled to begin and if possible can you just go ahead and send an update of my account information to the 3 bureaus now?'. The agent told me all accounts will report on the accounts due date (they then referenced my NEXT due date), then they told me they would go ahead and schedule an update for my account tomorrow (which is not my due date).

So it seems like this agent confirmed that accounts will report and they possibly eluded to the fact that they will begin reporting IMMEDIATELY on their next scheduled due date.

Someone else might want to start up a live chat session and try to dig some more detailed information out. Post back here if you find anything.

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That's interesting - thought honestly I wouldn't put too much stock into their comments. For sure, the accounts will be reported, but I wouldn't be surprised if the rep was simply stating the fact that most synchrony accounts report in that fashion, and simply assumed that PPC accounts would be the same... unless they suggested otherwise, but from what I've seen most reps aren't fully aware of what is going on with PPC. I say this partially also because multiple sources have previously said that no reports will be made before September... doesn't matter to me too much at this point, but I wouldn't take their word as gospel just yet.