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PayPal Credit Card Balance Transfer?

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LisaSmith
LisaSmith Posts: 2 Newbie
edited 5 February 2020 at 4:56PM in Credit cards
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.

Comments

  • Nile
    Nile Posts: 14,845 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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
    10 Dec 2007 - Led Zeppelin - I was there. :j [/COLOR]:cool2: I wear my 50 (gold/red/white) blood donations pin badge with pride. [/SIZE][/COLOR]Give blood, save a life. [/B]
  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Probably easier to get a 0% money transfer card, and use the money to pay PayPal Credit
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    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.
  • 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
    phillw Posts: 5,665 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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
    born_again Posts: 20,377 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    Good luck getting a £14K credit limit. Especially if they have a £14 Debt with paypal.
    Life in the slow lane
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    What did he spend 14 large on then? Can he not sell the items and pay some of the debt back?
  • born_again
    born_again Posts: 20,377 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    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.
    Life in the slow lane
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