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Joeyzoom417

PayPal Credit to REPORT in JUNE ??

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Hey folks - been awhile since I have been on these forums ! I just wanted to get people to weigh in on this, as I just recieved an email from PAYPAL CREDIT stating new changes comnig as of the end of JUNE 2019, as a result of Synchorny's buyout! Check your emails, PayPal Credit holders ... They list:

 

* Increase in late fee from $38 - $39

* Credit Reporting: "We MAY report account acitvity to credit bureaus, etc etc ..." !!! I called PayPal Credit and the agent stated that this may occur for only late payments, or may be all account activity - they are not yet aware. I was wondering if anyone else phoned in about this yet to see what answers they received (as we all know, every new rep = new answer!) She stated that while PayPal has never reported account activity, they may do so now that Synch has fully taken over, but this is not set in stone and may only occur on delinquent accounts.

 

If anyone has any further info or input, please weigh in -- this could really rattle a lot of people's profiles, especially if it reports as revolving credit card vs. a loan etc. Any information would be greatly appreicated!

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Hey folks - been awhile since I have been on these forums ! I just wanted to get people to weigh in on this, as I just recieved an email from PAYPAL CREDIT stating new changes comnig as of the end of JUNE 2019, as a result of Synchorny's buyout! Check your emails, PayPal Credit holders ... They list:

 

* Increase in late fee from $38 - $39

* Credit Reporting: "We MAY report account acitvity to credit bureaus, etc etc ..." !!! I called PayPal Credit and the agent stated that this may occur for only late payments, or may be all account activity - they are not yet aware. I was wondering if anyone else phoned in about this yet to see what answers they received (as we all know, every new rep = new answer!) She stated that while PayPal has never reported account activity, they may do so now that Synch has fully taken over, but this is not set in stone and may only occur on delinquent accounts.

 

If anyone has any further info or input, please weigh in -- this could really rattle a lot of people's profiles, especially if it reports as revolving credit card vs. a loan etc. Any information would be greatly appreicated!

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Yup - got the email just now and came here to post this!  Maybe no longer a hidden tradeline... interesting

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Time will tell...from a cost standpoint, it makes more sense to simply report the delinquent accounts.  If they report everything, the 90 and 180-day interest free offers lose a lot of appeal.  I am sure they have SOME of their bean counters that are aware of the amount of the userbase that has options. 

 

However, this is not the first time there has been a change involving the PPBC.  After all, remember that they previously had acquired another entity known for its hidden lines, specifically BuyItNow.  They basically integrated that platform into the PayPal suite and rebranded it as PPBC, with no ill effects as pertains to the hidden lines. 

 

AND...by way of edit...I went and looked at my imaged statements.  They have shown Synchrony Bank since June of last year.  The change appeared on the statement for the period between mid-June and mid-July.  Prior to that, it reflected the Comenity ownership.  If Synchrony hasn't reported current accounts in the past year, it is unlikely they will decide to do so now, aside from those who walk their account.

Edited by centex

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