PayPal Credit can help build your credit!

I suggest getting PayPal credit. Use it to purchase things and then pay down the balance. After some time, ask for a credit limit increase. This works and is SUPER simple to do!

Sound good, will check it out. Thanks

Paypal credit card I think I need that

I would NOT recommend applying for PayPal credit. (Depending on which program it is, that is) If it is the one that is offered through Synchrony Bank, sure, they’ll probably approve you. And they’ll probably increase your credit limit within a short period. But they’ll also charge you an APR rate that is RIDICULOUS! When I had this card (which I didn’t knowingly apply for and didn’t use for over two years), my credit score was low-probably around 583-and I didn’t know what a good interest rate was. My limit was $750 at first, and increased to $2200 over time, but the interest rate was 26.9999%, which is utterly ridiculous. It took me FOREVER to pay off & close the account. To anyone tempted to apply for this line of credit, I strongly urge you to reconsider. You deserve better!!!

I have a store card with Synchrony. I am not a fan. The ONLY reason I have it at all is for 6-12 month interest free on some purchases but they can be a PITA.

And yes the normal interest rate is a joke.

I would NOT recommend applying for PayPal credit. (Depending on which program it is, that is) If it is the one that is offered through Synchrony Bank, sure, they’ll probably approve you. And they’ll probably increase your credit limit within a short period. But they’ll also charge you an APR rate that is RIDICULOUS! When I had this card (which I didn’t knowingly apply for and didn’t use for over two years), my credit score was low-probably around 583-and I didn’t know what a good interest rate was. My limit was $750 at first, and increased to $2200 over time, but the interest rate was 26.9999%, which is utterly ridiculous. It took me FOREVER to pay off & close the account. To anyone tempted to apply for this line of credit, I strongly urge you to reconsider. You deserve better!!!

The trick is to not make purchases that you cannot pay for within a reasonable amount of time, just like any other form of credit. PayPal credit is easier to get than credit cards, so I recommend this to anyone trying to improve their score, so long as you are keeping your usage low. The bottom line is that no matter which way you improve your credit score with credit cards, lines of credit, or loans, you end up paying for a higher score. The longer you pay on things, the better your score will be, because paying on time, over time, is what builds your score.

Thanks , after seeing and reading these I'm definately not going to do this with those interest rates.

Thanks , after seeing and reading these I'm definately not going to do this with those interest rates.

Good for you! I know it’s very tempting when one is trying to build credit, but in the end it’s these very cards that will end up costing you an insane amount in interest & prevent you from increasing your credit score. And if you already have good credit, you should have no problem finding a credit card that offers better terms, rewards, and limits! Good luck!

Boop.

Thanks , after seeing and reading these I'm definately not going to do this with those interest rates.

Good for you! I know it’s very tempting when one is trying to build credit, but in the end it’s these very cards that will end up costing you an insane amount in interest & prevent you from increasing your credit score. And if you already have good credit, you should have no problem finding a credit card that offers better terms, rewards, and limits! Good luck!

To each their own, I suppose. PayPal Credit has helped me raise my score, so I guess this is a "your miles may vary" sort of thing. I'm going to keep using it, but I hope you find something that works well for you!

Ok

I did not realize PayPal can help build credit. My bank provides me with my FICO score but won’t help me ESTABLISH credit.

Thanks for the advice

Thanks for the advice

You are very welcome!

Thank you for this!

Good to know, thank you.

Good post.

I hate signing up for cards I don't even use

I hate signing up for cards I don't even use

The trick to using credit that you don't need is to pay your bills with a credit card and immediately pay off the credit card. You don't really need the credit on the card, but just the fact that you're actually using the card for the transactions and paying the balance off is what builds your credit.

I will check it out.

I will check it out.

Good luck to you!

I have lost my PayPal card