PayPal Community

I recently made a $5000 purchase and took advantage of six months no-interest PPC, but they set the credit limit at $5400 so credit utilization gets reported (or interpreted by Transunion) as over 90%.  My 800+ credit score dropped 48 points overnight, for something that I could have just put on my regular CC and paid off next month ... so zero extra risk as a borrower ...   I asked PPC for a credit line increase and was denied (probably because they had just upped it to $5400 arbitrarily.  Trying to ask Transunion about their reaction too but that's like talking to a brick wall. Why does PPC do things to cause such a high credit utilization ratio????? ... View more

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! ... View more

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. ... View more