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Paypal

Ok thinking about applying for PayPal credit in 5 months because of it being hidden and the 6 month finance, but heard they will be switching to synchrony bank. So does that mean the tradeline will not be hidden any more?

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Do you know the cards benefits? Is it worth the HP?
Message 1 of 12
11 REPLIES 11
Established Member

Re: Paypal

Depends what bank it is when you actually apply. If it is synchrony then it will no longer be hidden. If it is the current format then it will remain hidden.
Message 2 of 12
Established Contributor

Re: Paypal

I don't think we know the answer to that yet.

Message 3 of 12
Senior Contributor

Re: Paypal


@Treasurecreditwrote:

I don't think we know the answer to that yet.


True, we really won't know until the switch to Synchrony, but I don't believe there's ever been any Synchrony credit product that didn't report to all 3 CRAs. I'm not concerned, I've never had PP Credit balance over a couple hundred - it's only 6 months 0% deferred interest. But maybe Synchrony will improve that, for $299+ I can get 12 months 0% deferred on my Walmart card, and 6,12 or 18 months on my Lowes card - with Lowes depends on the current promo.


Fico 08: 734/716/734 TU/EX/EQ
Message 4 of 12
Super Contributor

Re: Paypal

This could get interesting.  What would happen if you had a Paypal account for say 5 years and they start to report.  I hope the open datew would be when you opended the account.  IMHO this could open the door to Synchrony for people who have had Paypal accounts for years regardless.

04/24/2019: FICO 849 EQ 845 TU 848 EX
Message 5 of 12
Senior Contributor

Re: Paypal


@marty56wrote:

This could get interesting.  What would happen if you had a Paypal account for say 5 years and they start to report.  I hope the open date would be when you opened the account.  IMHO this could open the door to Synchrony for people who have had Paypal accounts for years regardless.


Oh, that would be sweet, I hadn't thought of that. I opened my PP Credit account back around 2008 when it was Bill Me Later.


Fico 08: 734/716/734 TU/EX/EQ
Message 6 of 12
Valued Contributor

Re: Paypal

I'm personally wondering whether, once Synchrony takes over, the door will be re-opened for people who had PayPal Credit accounts when they were handled by Comenity but closed them due to their being IIB. I had to include a Bill Me Later/PP Credit account in my 2014 BK filing, and struck out on an attempt to reinstate last week.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 7 of 12
Contributor

Re: Paypal

I just hope i get in the door before the switch.
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 12
Senior Contributor

Re: Paypal


@joe8185wrote:

I'm personally wondering whether, once Synchrony takes over, the door will be re-opened for people who had PayPal Credit accounts when they were handled by Comenity but closed them due to their being IIB. I had to include a Bill Me Later/PP Credit account in my 2014 BK filing, and struck out on an attempt to reinstate last week.


I actually lucked out on that, my Bill Me Later/PP Credit survived my 2010 BK7. I hadn't used it for awhile, $0 balance, and I'd forgotten about it and didn't include it on my list of creditors to my attorney. I didn't have any other Comenity accounts so they were never informed or found out. A few months after discharge I was cleaning out my file cabinet and found the docs, logged into the account and found it still open with available credit. I've been using it ever since. If Synchrony reports it with the 2008 opening date it would be my oldest open CL. My oldest tradeline is a store card for Ulitmate Electronics in Vegas opened in 2004, for some reason Synch still reports that long closed TL.


Fico 08: 734/716/734 TU/EX/EQ
Message 9 of 12
New Contributor

Re: Paypal

So if Paypal Credit is a “hidden” tradeline then does that mean that the HP’s are “hidden” too? I wouldnt mind have Paypal credit and it would be a plus if they’re thinking of moving to synchrony. That would probably be my only way in with them. Synchrony hates me!
Starting Score: 550
Current Score: 646
Goal Score: 700
Message 10 of 12
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