PayPal Credit reported a total of $50 Billion in transaction volume from 2008 to 2019. Its popularity is quite justified considering it charges 0% interest (if paid on time) and provides a minimum credit line of $250.
If you haven’t been taking advantage of PayPal Credit then you’re probably wondering if your credit score is good enough to be approved for it.
Minimum Credit Score for PayPal Credit
PayPal has not clarified its minimum credit requirement for PayPal Credit and that’s because it doesn’t actually own this product anymore. Synchrony Bank acquired PayPal Credit in 2018 and has been running the product ever since.
Synchrony Bank uses the Vantage 4.0 scoring model and they design their credit cards for people with Fair (601 – 660), Good (661 – 780), and Excellent (781 – 850) credit.
So the minimum credit score required for PayPal Credit is 601.
What are the Other Requirements for PayPal Credit?
PayPal Credit is available for US residents who are of legal age in their state of residence.
It’s also important to mention that your application could still be denied if you have any recent delinquencies in your credit history.
Does PayPal Credit Affect My Credit Score?
Yes, PayPal Credit is reported as revolving credit in your credit report under the tradeline of SYNCB/PPC, which stands for Synchrony Bank/PayPal Credit.
PayPal Credit started reporting to the credit bureaus after it was acquired by Synchrony Bank in 2018.
Summary
Synchrony Bank acquired PayPal Credit in 2018 and it hasn’t disclosed the exact minimum credit score for PayPal Credit. However, PayPal Credit is reported as a credit card to the credit bureaus. So we can use Synchrony Bank’s requirements for its own credit cards to get an idea for PayPal Credit’s minimum required credit score.
