PayPal Mastercard Dispute - Not Sure How to Proceed

[Anonymous]

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[Jnbmom]

It not that unusual for some banks to update different times of the month, discover has done this a few times with me, it's really no big deal.

Why are you wanting to close an account because they don't report your balance the same time every month?? You can close it if you choose, but you are already dinged for the new account.

As for the dispute statement I am not sure about that one.

[Anonymous]

Thank you for the feedback. I'm glad to learn that frequent reporting is not unusual.

The only reason I was considering closing the account is because I'm operating under the assumption that the dispute statement will negatively impact me. Maybe someone else can comment on that? Any insight would be appreciated.

[Anonymous]

Dispute statements don’t negatively impact you at all. Capital One did the same thing to me a few years back when I put in a dispute for charges on my card. It shows AID (account in dispute) one month and the next month DRG (dispute resolved by grantor). Worst case scenario it’s not being used for FICO score calculations this month but that’s about it.

I complained about Synchrony’s reporting when I got the card too. They will report the first time you put a balance on the account immediately and then they will update it paid about 7 days after your statement closes so if you time your payment to zero right, you can avoid them reporting a balance when you don’t want them to.

That said, it’s not worth micromanaging. I decided that my PayPal card will be my balance reporter if I decide to do AZEO again but AZEO is frustration that’s unnecessary unless you have a mortgage coming up in the next 60 days or so since it has minimal impact otherwise and it likely actually hurts you with other credit apps because it looks like you’re not using the credit you have been given.

The PayPal has become my favorite card now, I definitely would have been kicking myself if I closed it over Sync’s first two months of reporting.

[Anonymous]

This is all very helpful, thank you. I'm glad to know that their reporting has been weird for others too. I'll keep the account open. I'd like to grow the card to a higher credit limit so that I can utilize it for the awesome 2% cashback.

Could you explain what you meant by: Worst case scenario it’s not being used for FICO score calculations this month but that’s about it.

[Anonymous]

Accounts in active dispute can be excluded from credit scoring algorithms while they are in dispute, I’m just not sure if that is only with disputes initiated through the credit bureaus or via creditors as well but I would imagine it applies to both scenarios. There also are apparently rules that govern the type of dispute with regard to whether it will affect scoring but regardless, it’s temporary if it has been excluded.

[Anonymous]

Good to know, but I'm still just a bit confused. What do you mean by: it's temporary if it has been excluded?

Sorry for not grasping it, but I think I do have a better understanding overall. Thanks for the feedback.

[Anonymous]

Some types of account information disputes remove the account from scoring entirely until the dispute is resolved but I am not sure if that’s just for negative accounts or positive accounts as well or the other particulars of it but regardless, the impact is likely to be minimal even if it is being excluded and the exclusion ends when the dispute is closed which will be when they send you the letter.

[Jnbmom]

Synch cards grow rather quickly as well. My DH has the PP mastercard it started at a whopping 300.00, it now sits at 10K.

[DaveInAZ]

I've had a Synchrony account since 2012, Walmart, then Lowes in 2015 & Paypal Cashback MC since 2017, and I've never ever had them report a balance except on statement closing date. But I read alot of complaints about their 'dynamic', random balance reporting and the one common theme is that they make multiple payments during the statement cycle and/or paying the balance in full before the statement. It seems to me that Synchrony doesn't like that, perhaps the they think you're trying to hide something so they adapt by reporting randomly?

Well, all I can say is that I don't play the AZEO game and let all cards report the full balance from the monthly usage and all cards just report on the statement date.