Paypal Credit

bengal-stripe

markwilkinson wrote: »

Fine if you have a 0% deal, but if you mistakenly use it and your account is interest bearing you will end up paying extra.

Not really, as Paypal Credit works like a CC. You get a statement once a month, then you'll have about three weeks time to pay without any interest being charged.

Even if your purchase doesn't qualify for the 4-month-interest-free deal you have between three and seven weeks interest free (presuming you pay your statement in full and on time).

fozmcfc

bengal-stripe wrote: »

Not really, as Paypal Credit works like a CC. You get a statement once a month, then you'll have about three weeks time to pay without any interest being charged.

Even if your purchase doesn't qualify for the 4-month-interest-free deal you have between three and seven weeks interest free (presuming you pay your statement in full and on time).

While that's true, to avoid any confusion, I still think it's good advice. Wonder how many people will find they will get interest, because they don't pay enough to cover the non 0% qualifying purchases.

I have this on my paypal and if I used it for a qualifying purchase, I'd prefer to then pay for any £0.01 - £149.99 in full immediately.

Javad

Good evening everyone,
I am new member here and I think I put myself in big sh…£&!
Other days I was looking to get an Apple Mac on finance and It ended in PayPal credit!�� I did not read it properly I thought PayPal giving me finance but now i realised they given me a credit card with £1200.00 £850 for Apple Mac and some money left. I wonder what should I do? If I knew this would happen to me I would not go for it because I already have a credit card with HSBC and do not need this!
Could someone please tell me what do I need to do exactly? I wanna cancel it and PayPal said I have to pay them by debit card, not with my credit card if I wanna cancel it!
And if I wanna go ahead with this, how am I gonna cancel this at the end of the final payment?
I don't want to continue with them, does it worth it?
Does it affect my credit score?

Thanks in advance,

RichL74

Paypal do not offer a credit card option. You wont get another card from them however your monthly payments will be to Paypal credit every month unless of course there is a cooling off period where you can cancel.

In a nutshell: its another form of credit, but you wont get another actual card.

T-G-C

MARKMAKAVELI wrote: »

Seems obvious now, but also I can't seem to find the answer to this:

If I pay a friend over £150, does that qualify for the 4 months interest free?

This text sounds like it doesn't but I'm really not clear:
Sending or receiving money between friends and family within the UK (in GBP) :Free when funded by the sender’s PayPal balance, bank account or debit card. If you use a credit card to send money, a fee of 3.4% + 20p applies.

If you mean to pay a friend through the standard PayPal funds transfer system, this isn't possible with their credit service at this time. As it is essentially viewed as a cash withdrawal / advance, I doubt it'll ever be included in their 0% offer if added in future, plus it'll have added interest.

PayPal Credit can be used at hundreds of qualifying merchants for purchases, but isn't compatible with anything else at this time, nor is there a plastic card.