![]() With this feature, there’s also no retroactive interest, Schmidt says. So it can be smart to make a repayment plan that leaves you with at least a month to spare, says Bruce McClary, vice president of communications for the National Foundation for Credit Counseling.įor purchases of $30 or more, some merchants allow you to split that into three monthly payments and no interest charges. If you don’t pay it off within the required period, you’ll owe interest on the entire repayment period. Some retailers also offer special deals extending the interest-free period. But it does offer some special payment deals, like longer interest-free terms.įor purchases of $99 or more, PayPal Credit gives users up to six months to pay off the balance interest-free, says Susan Schmidt, vice president of consumer credit for PayPal Credit. Unlike PayPal’s credit cards, PayPal Credit doesn’t offer rewards. You can set it as your default payment method, just like you would a debit or credit card. Your credit line is linked to your PayPal account. PayPal Credit is an unsecured line of credit that you apply for and can use online anywhere PayPal is accepted. What is PayPal Credit and how does it work? Do you need extra security on your device?.Does PayPal Credit help you build credit?.Can you do a balance transfer with PayPal Credit?.What kind of security features does PayPal Credit offer?.Is PayPal Credit protected against loss, fraud and theft?.Does PayPal Credit offer any buyer protections for lost, damaged or undelivered merchandise?.If you have multiple purchases, how does PayPal Credit decide how to allocate a payment?.Is there a limit to how much money you can spend with PayPal Credit?.What are the costs and fees associated with PayPal Credit?.What is PayPal Credit and how does it work?.Offers not valid on previous purchases, returns or exchanges. Minimum cart purchase required is before shipping and You must pay with PayPal Credit to get the offers. PayPal Credit is subject to credit approval as determined by the lender, Synchrony Bank, and is available to US customers who are of legal age in their state of residence. See FAQ for more info.Ĭlick here to view the PayPal Credit Terms and Conditions. If you miss a payment your late fee could be up to $41, even less if The APR is accurate as and will vary with the market based on the Prime Rate (as defined in your credit card agreement). ( See Terms and Limitations.)įor New Accounts: Variable Purchase APR is 28.49%. Get in, get out and get on with your life.Įligible purchases are backed by PayPal Purchase Protection. There’s no credit card needed, and no account numbers to enter. If you don’t have an account with PayPal, it’s Plus, we will email you when your monthly statement is ready so you can stay on top of your payments. You decide what’s best for you.īy simply logging into, you can keep track of all your PayPal and PayPal Credit transactions at any time. Shop for your favorite items on and check out with PayPal Credit to pay over time.Ībout PayPal Credit PayPal Credit is a reusable credit line available on purchases at millions of online stores that accept PayPal, including. You can also keep track of your account and view your statements online at any time. We’ll send you email reminders when your payments are due.You can also make minimum monthly payments, or any additional amount of your choosing, until you’ve paid off your balance according to your standard account terms.If you pay your balance in full each month by the payment due date that is on your statement, you can avoid paying interest.Purchases of $98.99 or less: Buy now and pay over time with PayPal Credit when you spend $98.99 or less. Multiple separate transactions of less than $99 per transaction cannot be combined to meet the minimum purchase amount.Individual items that are less than $99 qualify for special financing when combined for a total of $99 or more in a single transaction.For New Accounts: Variable Purchase APR is 28.49%.If you do not, interest will be charged on the purchase from the purchase date at the Purchase APR applicable to your account. No interest will be charged on the purchase if you pay it off in full within 6 months.A minimum monthly payment is required and may or may not pay off the promotional purchase by the end of the 6-month period.Interest will be charged to your account from the purchase date if the balance is not paid in full within 6 months.Purchases of $99+: No Interest if paid in full in 6 months on purchases of $99 or more.
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