Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

PayPal Credit to REPORT in JUNE ??

Recommended Posts

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!

Share this post


Link to post
Share on other sites

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!

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

My trade line recently appeared unannounced this month, after having been hidden for the whole year. 

 

It’s reporting to Exp as revolving credit. I’m not sure if the sudden reporting was triggered by a CLI from a few weeks ago or by approaching 30% util.  Or maybe it’s just coincidence. I’ve never been late and have been making good use of the 0% APR for 6months offer. 

 

Whats weird is that I didn’t get any alerts from Experian nor Credit Karma of a new account being added. 

Share this post


Link to post
Share on other sites

As I noted in the other thread, it also just recently appeared for me, also on EXP.  Account opening date is about 15 years ago when these were known as something else.  I incorrectly listed it in this thread as BuyItNow when it should have been Bill-Me-Later.  I have not looked to see if it is reporting to any of the other three bureaus...

 

It was a good run...15 years on a hidden tradeline isn't bad LOL!  That being said, while it doesn't kill me on average age of accounts (it does hurt a little bit), the toy limit (sub $10K) is a buzzkill as I scroll down the open accounts. 

Share this post


Link to post
Share on other sites

My 2-year-old PayPal credit line is showing on all 3 reports now.  It didn't have much effect on my FICO scores though, probably because it's over 24 months old, and because the util on it is low.  I didn't get any alerts or anything, it's just there now.

Share this post


Link to post
Share on other sites
2 hours ago, muso said:

My 2-year-old PayPal credit line is showing on all 3 reports now.  It didn't have much effect on my FICO scores though, probably because it's over 24 months old, and because the util on it is low.  I didn't get any alerts or anything, it's just there now.

Am guessing that the failure to appear as a new account will be related to the fact that it ISN'T a new account.  They are reporting with the actual account opened date, which for some of us was 15 years ago. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Member Statistics

    • Total Members
      179,430
    • Most Online
      2,046

    Newest Member
    osnelson
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines