Credit Check for Paypal Credit purchase - is it a hard check or a soft check?

[paulj70]

Hi,

I was thinking of using the 6 months paypal credit purchase option, and was told that paypal uses soft credit check.. Is this true?  Ultimatley I am trying to understand if this will be an inquiry on my credit report or not and affect my credit score.  If it does, I would use my credit card to pay and make the monthly payment on that versus getting another credit check.

[PayPal_Nicole]

Hi Paulj70,

Thank you for reaching out through the PayPal Commuinty Forums.

 A credit report is reviewed when you apply for a PayPal Credit account and occasionally when you ask for an increase in your credit line. Periodically, updates of your report are obtained, but these updates have no impact on your credit score. Your account is reviewed quarterly.

.

[paulj70]

Thanks Nicole for your answer.

Just to double check... The first check will put an inquiry to the credit buearau?  So there will be an inquiry being registered on the credit report?  I think each inquiry will have a minimal but an adjustment to the score.

However, all subsequent checks are done via soft credit check and has no impact?

thanks

Paul

[PayPal_Nicole]

Hi paulj70,

Thank you for the reply.

When an application for PayPal Credit is processed, a copy of the credit report is obtained.  Only this specific inquiry is visible to other credit grantors.  PayPal Credit does perform occasional reviews of credit.  We assure you that even though these inquiries may be visible on the credit report history, they do not impact the credit score and they are not visible to prospective grantors.

[chila2001]

Hi,

Even in the second reply, it was still not clear whether the initial inquiry is a soft of hard inquiry. Is the initial inquiry a hard inquiry? Just a yes or no would be great please.

Thanks

[Straightanswer]

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@chila2001 wrote:

Hi,

Even in the second reply, it was still not clear whether the initial inquiry is a soft of hard inquiry. Is the initial inquiry a hard inquiry? Just a yes or no would be great please.

Thanks

---

Can you just nswer the question with a straight answer Nicole!!!

IS THERE A HARD INQUIRE ON THE CREDIT CHECK THAT AFFECTS THE CREDIT SCORE!!!!

There are people out here that are trying to build credit and in inquire can knock 30+ points off of your score.

So being turned down for some reason would leave a person worse off that when they started.

A bank just did this to me after clearly telling me that they were going to do a SOFT CHECK to determine what my chances for the loan were and then did  hard check and it cost me 34 points on Experian.

Just answer the question with straight answer without all that scripted garbage talk.

Jeezus

[Straightanswer]

And just to be clear people....

PayPal credit cards are NOT easy to obtain unless you have real good credit.

It WILL put a hard inquiry on your report....And YES it will cost you 30 points on at least Experian....Usually Transunion does not get inquired.

Don't let any of these mooks tell you any different...They get paid on inquiry's.

Jeez I hate deceptive practices that use plausable deneyability when you catch them lying.