Does PayPal Credit Affect Credit Score

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The PayPal credit account functions much like a credit card, it affords the holder access to a revolving credit facility. Like credit cards, the PayPal credit account will be reported to the credit bureaus and listed on the consumer's credit report. This allows it to have an influence on the consumer's credit score.

Can A PayPal Account Affect Credit Score?

Once an item has been listed on a credit report it may either have a positive, negative, or neutral impact on an individual’s credit score.

Depending on how the account is handled it may either contribute positively, or negatively towards consumers credit scores. The nature of the account combined with the transgressions, or adherence thereof will influence the severity of the impact.

Does PayPal Credit Appear On Your Credit Report?

PayPal Credit was acquired by Synchrony Bank in 2018. Lines of credit associated with Paypal credit accounts were considered “hidden tradelines” before the acquisition as no account activity had been reported to any credit bureaus. As of late 2019, Synchrony has ensured this is longer the case and all account activity has been reported to the various credit bureaus ever since.

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How to open and close a PayPal Credit account

If you intend on opening a PayPal credit account you will need to meet the following requirements:

  • US-based customer.
  • Must be of legal age in your state of residence.
  • Pass PayPal credit approval process.

Alternatively, if closing the credit account is your objective you may contact PayPal’s customer services department by calling (866) 528-3733 between:

  • 7 AM to 1 AM ET on weekdays, and
  • 9 AM to 11 PM ET on weekends.

Closing the account will have a negative impact on your credit score as it reduces the total lines of credit you have available to you. This will occur despite maintaining the account obligations as agreed to.

Bottom Line

PayPal credit account activity of approved holders is now being reported to the credit bureaus for record. The PayPal credit account may either positively, or negatively influence your credit score. This will be determined by how well and consistent the account obligations are met by the holder credit account owner.

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