Maria Adams, Credit Cards Moderator
@m_adams
No, the PayPal Cashback Mastercard® doesn’t do a soft pull when you apply, it does a hard pull on your credit report. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time. The hard inquiry allows the issuer to determine your credit risk and ultimately decide whether you’ll be approved for an account.
Keep in mind that the PayPal Cashback Mastercard® requires at least fair credit to be approved. You can check your credit score for free on WalletHub to see where you stand.
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Nathan, Member
@natecamp4
Yes it's a soft pull app. They changed things recently to follow the growing trend of letting you apply with a soft inquiry. There is no harm to your score if you're denied.There's only a hard inquiry if you're approved.
People also ask
How do I get a PayPal credit card?
You can get a PayPal Cashback Mastercard® by applying for one online, but you need at least good credit to qualify for approval. The issuer will also take into account your income, debt and number of open accounts, among various other factors when considering your application.
Here’s how to get a PayPal Cashback Mastercard®:
- Visit the PayPal Cashback Mastercard®’s webpage.
- Click on “Start Credit Card Application.”
- Log in to your PayPal account to access the application.
- ...
What's the Synchrony Bank credit card credit score requirement?
It depends on the credit card you are interested in. Most credit cards offered by Synchrony Bank are designed for people with fair (640 – 699), good (700 – 749) or excellent (750 – 850) credit. Please find a list of cards offered by Synchrony Bank here: https://wallethub.com/credit-cards/synchrony-13003490i.
read full answer by WalletHub, Financial CompanyWhat credit bureau does Synchrony bank use for approval?
Synchrony bank mainly uses TransUnion to assess your creditworthiness when you apply for a credit card, though they may use Equifax or Experian instead, according to anecdotal evidence. So, if any of your credit reports are frozen, you should unfreeze them before applying for a Synchrony bank credit card.
Key Things to Know
- When you apply, Synchrony bank will perform a hard inquiry on your credit report, which might temporarily damage your credit...
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Actually it is a soft pull now to apply. Hard inquiry results only if approved and there's no harm to your score if you're denied.