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Posted in Credit Cards
Is anyone familiar with credit requirements for Paypal's Extras Mastercard?
I am interested in knowing if anyone has applied for a PayPal Extras Mastercard. I am in the process of rebuilding my credit. I have only one credit card with a very low limit and carry no balance. I have been using Credit Karma for about a year and have seen my CK score rise from 591 to 707 (largely due to derogatory accounts falling off my credit report). I am very conscious of hard inquiries (I only have 1) and do not want to risk another if my chances of approval are not high. Can anyone offer any insight?
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Question By
rsmrs06

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I only had one credit card when i applied for paypal extras mastercard. Was instantly aproved. But my credit history is clean, no baddies, no late fees. 

Response by
sayrina

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GECRB? It might depend on your age.

I'm a 63 year-old retiree whose credit score has been above 700 for a while (725 right now).  And, note that I've checked all three credit reports and find no evidence of fraudulent applications or uses.

I applied for their PayPal Extras MasterCard last December.  They denied it for a very curious reason, quote, "Unfortunately, we were unable to verify your identity with enough confidence to issue the card."  The odd part about this was, during the same timeframe, GECRB approved me for a Walmart Discover card and a Texaco/Chevron credit card.  With them, identity issues never came up - and they were both approved instantly.

After their denial, I spent two months communicating with them by mail and phone, attempting to unravel the mystery behind their denial.  At first, they told me that while they ordered a TransUnion report, they didn't use it ... that my denial was based on info from, quote, "outside sources."  And during that two month exchange, they never specified who these "outside sources" were - nor did they explain the logic behind "identity" issues causing denial of the MasterCard while the same issues never came up with their Walmart Discover or Texaco/Chevron card approvals.

I have no way of knowing whether this is true or not.  But friends have told me that cryptic denials like this are given when certain credit issuers don't like giving credit to the elderly or retirees - that they prefer issuing cards only to "employed" people.  In short, a subtle form of "age discrimination" where the "real" reason for denial is because I'm an old retiree without any income from "employment."  But carefully, they don't mention "age" in the wording of their denial.  Like I said, though, this is just speculation on the part of friends.

So, if you're an old person, you might want to consider applying for another card ... like a Chase Slate VISA card.  I was just approved for one with a $3,000 credit limit ... again, an "immediate" approval where my "identity" never came into question.

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Response by
ProfessorBarnhardt

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This is a P.S. to my earlier P.S.

I was unaware of this until recently.  But back in 2012, PayPal stopped accepting payments through MasterCard - only allowing payments through VISA and AMEX.  In short, my application may have been denied because PayPal has decided to switch to VISA or AMEX ... that they're just fulfilling an obligation of MasterCard of "offer" the card until the obligation expires.

In other words, it could be that all applications for a PayPal Extras MasterCard are being denied because they plan on co-branding with VISA or AMEX at some point in the future.

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Reply by
ProfessorBarnhardt

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P.S.  BTW, at the point where our mail/phone exchanges concluded and they repeated their cryptic denial, I brought up the possibility of age discrimination.  A few dats later, I got one final letter from GECRB.  They said that, as a favor to me, they would contact all 3 credit bureas and tell them to remove the "hard request" for credit info on my PayPal Extras MasterCard application.

And, I'll always wonder.  Were they really "doing me a favor" or just attempting to cover their hiney in case I filed a formal age discrimination complaint?  I'll never know.

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Reply by
ProfessorBarnhardt

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Higher APR

I was also thinking about applying for this card. But the APR is pretty high 19.99% to 23.99%. So if you are planning to apply for this card, read the full fine print.

Response by
prasanna85

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DECLINED with 694 score

I have no late payment history at all, oldest account around 2 yrs old, 4 hard inquiries recently, and average account age of around 10 months.

Response by
drixowa

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My score is under 600 I was APPROVED

I was approved instantly for 1.5k and ive been working on my credit. I used to be at a 499! but its been getting better now im at a 599 but I have 2 credit cards through capital one one for 1K and another for 500. I was actually just setting up a paypal account when I was asked to apply for the paypal express mastercard I delined knowing I wouldnt get approved and I dont want to be runing my credit. but it asked again at the next step of opening the account so I said well let me just see. asked for little information and bam approved 1.5k . I was shocked. Im excited for my first GECRB account!

Response by
Robman58

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Paypal Card

I've just been approved for 1,000.00 like nothing. I have no baddies however lots of inquires and 23% utilization rate and several new accounts, with a 698 credit score and 10 months being my longest credit line age. You should be good GECRB is pretty is to be approved for.

Response by
JosephRonaldAdam

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Try researching the card on http://www.financeglobe.com/ to see what other customers have to say about scores and approval chances.

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Response by
scamps218

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