That my score changed because I added a paypal account.
How? I registered for paypal but didn't provide any information other than my address and the last 4 of my social. I don't want a new account with paypal.
Is this normal?
Starting Score: 703
I have an account with Paypal, and they did not hard or soft inquiry me. Are you sure you did not apply for some sort of credit card through them. There is no reason for them to show anything on your credit report if you do not have a credit card with them.
How is the account showing up on your credit report? As a loan or credit card?
Starting Score: 583 EQ, 612 EX, 569 TUAll I did was make an account.
I did it in a hurry, but I didn't put in a SS# or anything.
I don't have my report, only scorewatch but this showed up
GEMBPAYPALSMARTCONN
I have scorewatch and I can look at my report and see what the accounts are. Try doing this and letting us know how it is listed or if it is just an inquiry. It just sounds so weird for them to create an account for no reason.
"A new credit account has been added to your credit report"
Great. Apparently in my haste I may have "clicked a box" which said I wanted a line of credit through paypal
I had the account closed, and they said I could try and dispute it with the credit reporting agencies since it was a mistake and never used.
I'm not happy about this at all. There was no credit application for this, if anything I truly did just click one box in the bunch where you agree to all the terms.
Don't mean to sound harsh but, if you clicked a box that said you wanted any line of credit or credit product from them then you in effect made "an application for credit" and they created the account. I am not familiar with the PayPal Smart Connect so I don't really know what type of credit product it is. In fact the only thing I've ever allowed PayPal to do is be the 3rd party verifier for my own CC information versus providing it to small unknown businesses.
Bottom line for everyone is to Carefully Read the information you are checking and agreeing to when making on-line purchases. As to disputing with the credit bureaus I don't know what your dispute would legitimately be. You created the account and cancelled the account (I presume you cancelled). Your action would be with PayPal to delete the reporting of the tradeline not with the credit bureaus.
Best of Luck. Sometimes we learn only by making mistakes. It's not the end of your credit life either way. At least your credit was good enough to be approved for an account.
Many people on these boards would love to be able to be approved and can't.