Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • dazzaofdagenham
    • By dazzaofdagenham 25th Jun 18, 9:33 AM
    • 1,227Posts
    • 396Thanks
    dazzaofdagenham
    PayPal credit...
    • #1
    • 25th Jun 18, 9:33 AM
    PayPal credit... 25th Jun 18 at 9:33 AM
    My credit file has been improving a lot over last 2 years.....Now have no CCJ, just waiting for some paid defaults to fall off....1 in September and last 1 in January.

    However, PayPal credit just gave me a 1k credit line and 0% finance on purchases over 150 pounds for 4 months each time.

    Sounds a winner to me ?
Page 2
    • Somerset La La La
    • By Somerset La La La 1st Jul 18, 9:41 AM
    • 613 Posts
    • 195 Thanks
    Somerset La La La
    Online. Its fairly straightforward but they dont give you an option to pay all BUT the promo balances


    So for example if you had 1 x £500 interest free for 4 months then a £99.99 purchase from eBay (only interest free for 56 days or whatever) youd have to check the minimum payment but also make sure yove covered the £99.99 in full. Clearly an example like that is easy - just chuck £100 on. But if youve multiple 0% deals expiring on different months and also multiple smaller purchases its a bit of a faff

    Id personally use it for one or the other (baskets over £150 OR small items only) - then you can set a payment strategy - 4 months 0% pay 25% each month, or just the minimum and clear it etc.

    I think theyve deliberately made it somewhat confusing.....

    Also the direct debits arent taken automatically - I have to go in and tell them when to take one, how much, from which account and on which date

    So onus is very much on the customer to ensure its paid (by card or DD) and also to figure out what to pay - if youre trying to extract full value from the 0% its a bit of a pain

    I just clear mine in full as my limit is so pathetic - if I ever got a higher limit it might be worth playing around a bit more!!
    Last edited by Somerset La La La; 01-07-2018 at 9:43 AM. Reason: Forum doesnt like proper punctuation....
    • john1002
    • By john1002 1st Jul 18, 11:02 AM
    • 933 Posts
    • 384 Thanks
    john1002
    My DD be for the minimum is always taken. Any limit set is your limit forever as they don!!!8217;t accept credit limit increase or automatic ones, obviously in time this might change but I!!!8217;ve had an account since it!!!8217;s beginning in the UK and it!!!8217;s policy hasn!!!8217;t changed in that time.

    John
    • msallen
    • By msallen 16th Aug 18, 8:06 AM
    • 926 Posts
    • 1,077 Thanks
    msallen
    To waste ours?
    • Samsung_Note2
    • By Samsung_Note2 16th Aug 18, 5:17 PM
    • 709 Posts
    • 331 Thanks
    Samsung_Note2
    Just to correct you, but Paypal on eBay gives buyer protection for 180 days.

    Also, I can't see why you are saying using Paypal Credit for items over £100 wouldn't be covered by section 75 protection, there is nothing I can see that would prevent it. Are you confusing Paypal Credit with normal Paypal funded from a credit card?
    Originally posted by its_all_over

    Ok firstly i can only tell you what paypal have told me and its 60 days..please feel free to call then check that.

    Yes its 100% that S75 is not covered...its not a credit card and you are not covered,again please call them and ask,you will be told the same as i was...no S75.

    Id be happy if they did as could go back to Paypal and shove it in there face...but when they they say no they say no and not an awful lot you can do about it.
    Last edited by Samsung_Note2; 16-08-2018 at 5:21 PM.
    Its really rather simple...I cant spell and your a Bully..Hang your head in shame.
    • Somerset La La La
    • By Somerset La La La 11th Oct 18, 8:28 PM
    • 613 Posts
    • 195 Thanks
    Somerset La La La
    I've found this is most useful when eBay have promos on. For example they've had a recent deal (21st Sept to 21st Oct) where spending over £99 via PayPal credit is 0% for 12 months.

    As a very much sub-prime borrower, that's waaay better than I get get anywhere else. Although I've now maxed my £250 limit out, so that'll be that for a year!

    Also Third Party companies (mostly Tech companies IMO) offering 'cheap' credit (anything <20% for me is cheap at the moment!)

    Anyone know their limit increase strategy? I know you can't request, but I've opted in to auto increases. I'm hoping in a month or so they'll twig that I'm maxed out and give me a bit more cash!!
    • A4445
    • By A4445 11th Oct 18, 9:09 PM
    • 850 Posts
    • 396 Thanks
    A4445
    I've found this is most useful when eBay have promos on. For example they've had a recent deal (21st Sept to 21st Oct) where spending over £99 via PayPal credit is 0% for 12 months.

    As a very much sub-prime borrower, that's waaay better than I get get anywhere else. Although I've now maxed my £250 limit out, so that'll be that for a year!

    Also Third Party companies (mostly Tech companies IMO) offering 'cheap' credit (anything <20% for me is cheap at the moment!)

    Anyone know their limit increase strategy? I know you can't request, but I've opted in to auto increases. I'm hoping in a month or so they'll twig that I'm maxed out and give me a bit more cash!!
    Originally posted by Somerset La La La

    Iíve had PayPal credit over 2 years and theyíve never increased the limit. The most Iíve ever spend was £350 and my limit is £2000 guess they donít think I need anymore.
    • onthefencepost
    • By onthefencepost 12th Oct 18, 11:38 AM
    • 186 Posts
    • 39 Thanks
    onthefencepost
    Hi everyone,

    Can you pay of small amount of what you borrowed during the 4 months of interest free credit or do you have to pay for it in one go?

    Also will paypal carry out a hard search in applying for credit? Reason I ask is that I applied for a credit card in August which i got accpeted for and dont want to be seen to apply for to much credit.
    Tempted as my laptops bust my desktops isnt of much use!

    Thank you.
    • PRAISETHESUN
    • By PRAISETHESUN 12th Oct 18, 12:17 PM
    • 576 Posts
    • 265 Thanks
    PRAISETHESUN
    Hi everyone,

    Can you pay of small amount of what you borrowed during the 4 months of interest free credit or do you have to pay for it in one go?

    Also will paypal carry out a hard search in applying for credit? Reason I ask is that I applied for a credit card in August which i got accpeted for and dont want to be seen to apply for to much credit.
    Tempted as my laptops bust my desktops isnt of much use!

    Thank you.
    Originally posted by onthefencepost
    I can't speak from personal experience, but pretty much every credit application I've ever heard of will result in a hard search on your file, so I would expect PayPal to be no exception. Making 1-2 credit applications in a short time frame should be okay, as long as you don't plan to make too many more for a while after.
    • cjv
    • By cjv 12th Oct 18, 7:27 PM
    • 354 Posts
    • 178 Thanks
    cjv
    Hi everyone,

    Can you pay of small amount of what you borrowed during the 4 months of interest free credit or do you have to pay for it in one go?

    Also will paypal carry out a hard search in applying for credit? Reason I ask is that I applied for a credit card in August which i got accpeted for and dont want to be seen to apply for to much credit.
    Tempted as my laptops bust my desktops isnt of much use!

    Thank you.
    Originally posted by onthefencepost
    Yes you can pay as much or as little as you like each month (at least the minimum) as long as you pay it off within the 4 months it will be interest free.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

981Posts Today

6,101Users online

Martin's Twitter