How to calculate how much to pay on paypal credit

HazeyBlue

Hi all
I have a paypal credit account which I have placed several items on with the intention of using the interest free credit.  When I log in to my account its not clear how I can see how much I need to pay to ensure it remains interest free.  Up to now I have been guessing and paying what I think will cover the items I have bought, but this month I see I have been charged £5 interest.  Not much in the grand scheme of things but I would rather not give my money away if I dont have to.  The paypal help tells you to click this and that and then you can see what you have on the interest free scheme but Im not getting that, and I have no clue what I need to pay each month.
Any help or guidance in what I need to do to work this out would be much appreciated.
Cheers

ic

If I click through to the PayPal Credit account once logged into PayPal (here), it shows me as little boxes each transaction that has qualified for interest free, the outstanding balance of each purchase and when interest will begin to be charged on it.  I use the facility rarely so its easy for me to just pay over three or four fixed direct debits (I normally just use my CC and pay in full).  If you are using it a lot, you're probably falling into the trap PayPal want which is to make it complicated to figure out what is paid and what is not.

Basically you'll have to add up the outstanding balance of your interest free purchases, and deduct that from your total balance, to understand what is interest baring.  Also consider when your payment will credit to the account, vs when the interest free balance actually ends.

jimroy

When I purchase something using PayPal Credit I set up a direct debit for the minimum payment each month. I then pay off the balance of that purchase by the end date of the interest free period. This can be seen on your monthly statement or on your account online or in app. In the past, to make things simpler, I have also divided the total by four and paid the difference each month separately as an extra payment around the time of the monthly direct debit. If you don't set up a direct debit, you'd have to diarise when the minimum payment is due as per your statement and make sure they receive the minimum payment each month on time by the due date, or you will incur interest. In fact I think you lose your interest free on your purchase and start being charged interest if you don't make a minimum payment as set out on your statement. Hope that helps.

HazeyBlue

Thats great thank you both, I have found it in my statement now.  Im new to paypal credit and was just trying to figure it out.