PayPal Community

Powerbrainsllc · ‎Mar-02-2020

..plus just got a friendly badge for responding to my answer to my question....yay again!..what's next?????..start to feel a bit schizophrenic, though.

Powerbrainsllc · ‎Mar-02-2020

Plus I earned 4 PP community badges by answering my own questions..yay! Gotta love community!

Powerbrainsllc · ‎Mar-02-2020

While I was looking into how to actually get my account number to do a 0% APR debt transfer I also tried to increase my credit limit. It worked! PPC doubled the credit line so now I need to pay off some, make sure the actual debts never exceeds 30% again, and my credit score should go up again over time. I wish they had communicated the potential fallout of their credit bureau reporting beforehand.

Powerbrainsllc · ‎Mar-02-2020

I can't see why it shouldn't work as long as you have the account number and bank details (I have not tried it yet and it seems paypal removed the link how to get your bank details..probably need to call them). Use a credit card offer, let's say 0% APR for 18 month and transfer your debt to the other bank for a 3 to 5% fee. Keep in mind that you have to stay (well) below the 30% of your maximum credit. If not it will impact your credit score just as well. At least you will increase the 0% APR from 6 month to 12 to 18 month. Voila!

Powerbrainsllc · ‎Feb-28-2020

Mine dropped more than 40 points. Welcome to the club! I'll transfer my 6month special purchase debts or pay it off way before the 6month no interest period is over....and will not use the account that much anymore. Special purchase option is not an option anymore for my business.

Powerbrainsllc · ‎Feb-28-2020

I want to do the same because PayPal credit is now reporting to the credit bureaus. Ok, so PayPal credit doesn't do it but can I use another credit card to have my PayPal credit balance transferred? Why wouldn't this be possible?

Powerbrainsllc · ‎Feb-28-2020

My credit score dropped from well above 800 to 766. My excellent credit rating is almost gone with all it's implications for business like getting best credit and lending rates etc. It looks like PayPal credit (syn/cb) is now reporting to credit bureaus since end of last year. Since I have always used 100% of my credit for 6 month special financing for business purchases this is now of course way above the recommended 30% max use of credit. My score plummeted accordingly....not happy at all. Many business owners used it this way but this is of course no good anymore. How much did your score go down and what remedies do you see?

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Re: Credit score dropped more than 40 points

Re: Credit score dropped more than 40 points

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Credit score dropped more than 40 points