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Paypal grudge?

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Paypal grudge?

Hello everyone, first post here but long time lurker. Back when I was in my late teens I thought I had had everything figured out and jumped on the credit band wagon opening up quite a few cards, well after awhile I lost the interest in paying them in general so the majority charged off and went to collections. I was obviously young and dumd and didnt quite understand the importance of a good credit score.. Regardless one of the companys I burnt was Bill Me Later when it was still under comenity and I also burnt Synchrony as well (both paid in full now).. I have interest in opening a paypal credit account back up but dont want to take the hard hit if they tend to hold a grudge.. Just curious to see if anyone else has been through this scenario and what your scores were whenever you applied. FYI when I started rebuilding about a year ago my FICO 8 ex was low to mid 400's, Im now at low 600's thanks to the advice on this board.

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Moderator

Re: Paypal grudge?

@boostedem1  Hi and welcome 

 

There really is no way too tell how long it takes Synch to forgive, but eventually they do.

There is some grudge holding, but there is no specific length of time that you should wait, or when they are more likely to approve. 

A lot of it will also be dependent on what your CR looks like now 

Unfortunately, the only way to find out is to apply. 

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Established Contributor

Re: Paypal grudge?

I have a synchrony Charge off from a sams club card that I still haven’t paid and they sold to collections but they did approve me for the Secured amazon store card.





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Re: Paypal grudge?


@boostedem1 wrote:

Hello everyone, first post here but long time lurker. Back when I was in my late teens I thought I had had everything figured out and jumped on the credit band wagon opening up quite a few cards, well after awhile I lost the interest in paying them in general so the majority charged off and went to collections. I was obviously young and dumd and didnt quite understand the importance of a good credit score.. Regardless one of the companys I burnt was Bill Me Later when it was still under comenity and I also burnt Synchrony as well (both paid in full now).. I have interest in opening a paypal credit account back up but dont want to take the hard hit if they tend to hold a grudge.. Just curious to see if anyone else has been through this scenario and what your scores were whenever you applied. FYI when I started rebuilding about a year ago my FICO 8 ex was low to mid 400's, Im now at low 600's thanks to the advice on this board.


There is a period of time that they wont approve but you dont say when you paid them off so its impossible to state whether or not a sufficient period has passed.  IMHO your Fico is still too low to app for Synchrony, I would hold off until you get to 640-650. Welcome to the board Smiley Happy

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Re: Paypal grudge?

You’re getting there, but low 600s won’t get you in with Synchrony, regardless of history with them. Be patient & get into the 660+ range first...







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