Credit score dropped more than 40 points

[Powerbrainsllc]

My credit score dropped from well above 800 to 766. My excellent credit rating is almost gone with all it's implications for business like getting best credit and lending rates etc. It looks like PayPal credit (syn/cb) is now reporting to credit bureaus since end of last year. Since I have always used 100% of my credit for 6 month special financing for business purchases this is now of course way above the recommended 30% max use of credit. My score plummeted accordingly....not happy at all. Many business owners used it this way but this is of course no good anymore. How much did your score go down and what remedies do you see?

[Powerbrainsllc · Accepted solution]

While I was looking into how to actually get my account number to do a 0% APR debt transfer I also tried to increase my credit limit. It worked! PPC doubled the credit line so now I need to pay off some, make sure the actual debts never exceeds 30% again, and my credit score should go up again over time. I wish they had communicated the potential  fallout of their credit bureau reporting beforehand.

[Powerbrainsllc]

Plus I earned 4 PP community badges by answering my own questions..yay! Gotta love community!

[Powerbrainsllc]

..plus just got a friendly badge for responding to my answer to my question....yay again!..what's next?????..start to feel a bit schizophrenic, though.

[sleepyhusky]

I also found out recently that my credit score had dropped 80 points due to PayPal reporting my 14$ missed payment to credit bureau. I am aghast at the mindless policy which is an example of worst customer experience. Why would they not charge me finance or interst charge like other banks and why would they not remind me before taking the detrimental action given my outstanding payment history in last 12 years.

[leggwork]

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?????