My PayPal Credit limit decreased.

[sophiebatik]

My PayPal Credit limit decreased from $8500 to $1500 with no explanation. Never late on bills, excellent credit rating. Can anyone explain why?

[Supermantat · Accepted solution]

@sophiebatik  Same here.  Calle[Removed. Phone #s not permitted]the number listed for Synchrony Bank customer support.  That rep insisted it wasn't her department and transferred me to another department [Removed. Phone #s not permitted]  The rep at that number insisted no it was actually customer support I needed to talk to.  He transfers me back . . . and the phone disconnects.  

I'm on PayPal messenger now and the estimated wait says a few hours.   I just checked and got a message to contact Synchrony Bank directly at www.paypal.com/us/smarthelp/home .  The run around continues.  

[sophiebatik]

I’m interested in what you find out.  Thanks!

[Supermantat]

@sophiebatik I FINALLY got through to someone. They decreased it because I haven’t used it in multiple years. He said eventually they’ll cancel if I don’t use it.

[sophiebatik]

Thanks so much.

[David_Alton]

They say they are halving mine next month and I do use it a few times a year for large purchases over 4 months interest free. Always paid off on time. If they do it I am just going to close the credit account .Can't be bothered to argue with these companies just wont give them my business. 

[sophiebatik]

Thanks for your comment.

[Ldm2015]

Just got an email to say my limit of £3750 is dropping to £1500. Absolute joke from PayPal, I use my account often and for more than 5 years. Shame on them I usually do a payment plan on a new mac every couple of years but looks like I'll just use my barclaycard instead. Their loss as they normally accrue a decent amount of interest over the 24 months. What a way to treat customers during a pandemic, and the best they can say is its because of your situation. Some people are financially in a better situation with the pandemic, especially key workers whose lives are just working around the clock right now. I loved the convenience of PayPal credit but probably won't use it anymore for significant purchases. Look like its a £10 purchase on eBay every now and then to keep the account active and good standing

[Norm77]

Hi All,

I had an email today telling me of a decrease, Always pay on time also use it quite a lot but its always paid in full before the 4 months interest free is up. Told an advisor when i spoke to them that i can't make a big purchase now (not that i was going to ,but maybe in the future) due to the limit decrease. So their loss really. (they haven't made a penny off me in interest so every cloud and all that!) 

[nileriver]

They didn't even do me the courtesy of emailing me. I found out from my credit monitoring service, who sent me an alert on it, and let me know that it will affect my credit score. They decreased it from $4500 to $1500. I use PayPal often, but I always pay with my PP balance, or with my bank account. I have never used PP Credit. The alert from my credit monitor had the first few digits of the account number (rest of account number X'ed out), followed by SYNCB/PPC. I looked at all my credit cards but the number didn't match any of my cards. I had to Google SYNCB/PPC to find out who it was. I did an online chat with them. The agent kept saying I should call their fraud number. I was telling her that I don't have a PP Credit account, and she seemed to keep thinking that someone had opened an account in my name or something. I told her that if there was any fraud, it was perpetrated by PP. There is no balance on the account, and never has been. I didn't even know I had the account. If someone was going to commit fraud, they would be charging things on it. Anyway, I couldn't get anywhere with her. I guess I will bite the bullet to prepare to be on perpetual hold, and call them to try and resolve this, although I'm afraid the damage has already been done to my credit score, and probably can't be undone. It may hurt my score some more to cancel the account, but that is what I will be doing when I do reach them. I'm definitely going to have words with them also about what they have perpetrated on me, and the damages done. Just because I have and use PayPal doesn't mean you can open up a credit account on me without my permission, especially if you are going to arbitrarily cut the credit limit by 66%. I'm sure I'm just whispering in a hurricane, for all the good it will probably do me.