Can you build credit with PayPal?

For the sake of clarity, a traditional PayPal account will do nothing to improve your credit score because it will never report to the credit bureaus, however, a “PayPal Credit” account which is financed by Synchrony bank, will report to Experian but no others. I know this because it appears on my report every month as SYNCB/PPC. It is a current account and has never been late.

I realize that some people are confused because there was a point in time before Synchrony Bank took over that the PayPal Credit accounts did not report to any of the three major credit bureaus. This goes all the way back to when PayPal Credit used to be called Bill Me Later.

I should also note that Synchrony Bank will rarely if ever give automatic PayPal Credit limit increases unless you purchase something over your current limit. If the cost is not too much over your limit, Synchrony will typically raise your credit limit enough to cover your purchase and your credit limit will stay at the higher amount going forward.

For example…My starting PayPal Credit limit was only $250 so I made a purchase of about $275 and Synchrony Bank increased my limit to $500 to cover my purchase and then some. I was able to keep my new credit limit even after I paid off my balance completely. You can also request a credit limit increase from the PayPal website but so far I have not had any luck going that route.

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