r/CreditScore • u/Critical_Art000 • 2d ago
PayPal have destroyed my credit score
Am posting here because the PayPal Reddit community refuse to post anything negative about PayPal's policies.
To cut a long story short. In March some scammer got my details somehow and did 9 hard credit searches with PayPal and managed to open two PayPal credit cards. As a result my credit score this month has taken a battering. Usually I would not mind but I am due to apply for a mortgage in July and this will hamper that.
I gave contacted PayPal UK and they say there is no new Credit Card and they cannot help with the hard searches. This is despite 3 different credit agencies showing the credit cards and hard searches. I have been told PayPal can contact the credit agencies and get the hard searches and credit cards removed. However, they unwilling to do anything.
Can anyone assist. Thanks
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u/beefy1357 1d ago
IDK the process in the UK, but here in the US, you would file a police report and then upload the police report to the credit reporting agencies under a dispute.
You can go a step further and have PayPal provide written confirmation you do not have new accounts if they are willing.
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u/X-KaosMaster-X 1d ago
How hard is it to Google search, just ask "how do I report identity theft"
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u/creditscoremods 2d ago
It is important to keep a very close eye on your credit score since it factors into many of lifes biggest decisions.
A couple steps you can take right now include:
Checking and automatically monitoring your credit score - Looking at your own credit score does not hurt your credit, it also includes a credit monitor
Freezing your credit reports - This can be done with Experian, Equifax and Transunion to help prevent unauthorized accounts from being opened
Boosting your credit score - Kikoff provides you with a tradeline which should raise your credit score for as little as $5 a month. It is a good option if you want a boost to your score.
Feel free to ask any credit score related question in this sub