PayPal Credit Card Balance Transfer?

LisaSmith

Hello, a family member of mine is in debt with PayPal credit (£14,000)
I am trying to find ways to support them and manage their credit payments. The PayPal APR is high and my question is, if they WERE to be eligible for a 0% balance transfer credit card, like most other credit cards, can you transfer the balance outstanding from PayPal credit to a new credit card?

I am interested in constructive advice and comments only.

Thanks, Lisa.

Nile

Hi, we move threads if we think they’ll get more help elsewhere (please read the forum rule) so this post/thread has been moved to another board. If you have any questions about this policy please email forumteam@moneysavingexpert.com.

I’ve moved your thread from the ‘I wanna’ board to the ‘Credit Cards’ board, where it is better suited.

Regards

Nile

jimbo26

Probably easier to get a 0% money transfer card, and use the money to pay PayPal Credit

foxy-stoat

If they have a Paypal Credit card then yes, if they dont have the long number then a money transfer card would be the way to reduce the interest.

sadiedoll

Hi - if it is the Paypal Credit account, then no - you can't transfer the balance, or pay it off with a credit card.

If you get a Money Transfer card, then this will allow you to transfer funds to a bank account, and then use a debit card to reduce the balance of the Paypal credit account.

phillw

The advice given before is you need a money transfer card which will deposit cash in your current account and then use that to pay paypal.

https://forums.moneysavingexpert.com/discussion/5618814/paypal-credit-balance-transfer

You can probably only do a balance transfer to one of their mastercards.

https://www.paypal.com/us/webapps/mpp/credit-line-and-card-services

born_again

Good luck getting a £14K credit limit. Especially if they have a £14 Debt with paypal.

foxy-stoat

What did he spend 14 large on then? Can he not sell the items and pay some of the debt back?

born_again

LisaSmith wrote: »

Sorry, I should have made it clearer we are looking for constructive advice and that we are also aware of that

Might be better off looking at a loan for that amount.
Taking another credit card is just opening up another line of credit.