If you are like me, your pretty proud that you have paid off your loan much faster than expected. Go to apply again and out of the blue, DECLINED. If you are like me, I live and breath PayPal, great customers service and your money is safe. My first thought was how could they do this to me, 10 years of being a loyal customer, two loans paid!
I paid off my loan and waited up until after Midnight for the payment to register. I was like a little kid on Christmas, how much would they offer me, how much do I need? What will I do with the money? Then the immediate, 601 & 602 decline, we are not lending on your catagory business. My heart hit the floor, dashed.. Two loans paid, now nothing.
I then went to my account realized that my Catagory and Sub-Catagory were wrong and had nothing to do with the income that I received from PayPal. I then went online and tried to change my catagory, change it, applied again, Declined again. Go back into the system and there was the old catagory, as if I had not changed it. I frantically applied over 5 times in 5 days, until I was shockingly approved.
Stop take a breath, it will be OK..
The one thing about PayPal is great customer service, no matter how many calls, always a friendly voice on the other end, don't forget it..
1) Call Paypal, not Working Capital, ask to change your Catagory and Sub-Catagory, they will do this for you. Explain that it is not letting you change and that it keeps going back to the old catagory. Explain why it is the wrong catagory and confirm the change, ask them to doulble check it has changed.
2) Wait one day, Call Working Capital, ask them to tell you your catagory, if it has not been changed, once again ask them to change it.
3) Wait another day, Call working Capital, ask them to tell you your catagory, if it has changed to the correct Catagory, you are ready to apply again.
