Please see the Credit Agreement for more details.ĥ. If you fail to make repayments or in certain other circumstances, PayPal may remove your offer and any outstanding amount will be charged at your standard variable rate. This will be added to your monthly minimum repayment amount and will need to be paid each month. It is important that you think about whether you can afford the monthly repayment agreed for any instalment offer. If you already have PayPal Credit, you can take advantage of these offers without having to reapply as long as you have enough available credit limit. Instalment offers will always have an interest rate lower than the standard variable rate, and many merchants offer 0% instalments with PayPal Credit. These instalment offers vary by merchant and allow you to choose a set monthly repayment over a period from 6 to 48 months to help spread the cost of larger purchases in a more manageable way. With selected merchants, when you check out with PayPal Credit, you’ll be shown a selection of instalment offers which enable you to spread the cost of your purchase across a number of repayments. The minimum repayment for each component would be calculated as follows: £600.00 at 0% interest, spread over 6 months Here’s an example of how your minimum repayment is calculated: Assuming you had the following transactions on your account: Please see your Credit Agreement for more details. If you fail to make minimum repayments on time or in certain other circumstances, PayPal may remove your offer. the full balance if less than £5.00, or the higher of £5.00 or 2% of the outstanding balance (which excludes any instalment offer balances, but includes any 0% for 4-month offer balances) and.any instalment offer payments due for that month.Your minimum repayment amount is calculated based on your purchases, and will include: Any offers you have are also detailed in these locations. Your monthly minimum repayment will be shown in each statement and in the PayPal Credit section of your PayPal account. How are my minimum repayments calculated? If you use any of these promotional offers, they will also be detailed on your monthly statement, as well as in the PayPal Credit section of your PayPal account.Ģ. instalment offers with selected merchants.0% for 4 months on all purchases of £99.00 and over and.In addition, PayPal Credit lets you access two types of promotional offers: For further information on how you can pay your PayPal Credit balance, see the ‘Make a Payment’ section below.įor purchases less than £99.00, interest is charged at your standard variable rate if the full amount is not paid off by the date shown on your statement. Repayments can be made by monthly direct debit, directly from your PayPal account or by speaking to our customer service agents. PayPal Credit will provide you with a monthly statement showing your transactions and detailing the minimum repayment amount. You can make purchases in the same way as you would with a normal credit card, by choosing PayPal Credit as your funding source at checkout. If your application is successful, PayPal Credit will be available as a funding source within your PayPal wallet and can be used for purchases in most places where PayPal is accepted. It’s a credit limit that’s attached to your PayPal account which you can use for your online purchases. Residents of Vermont are ineligible to open a Card Account.PayPal Credit is like a credit card, without the plastic. Use of Card Account also subject to fraud prevention restrictions at any time, with or without notice. Restrictions include: no ATM withdrawals, international transactions, account-to-account transfers and additional loads. If your identity is partially verified, full use of the Card Account will be restricted, but you may be able to use the Card for in-store purchase transactions. Card activation and identity verification required before you can use the Card Account. We may also ask to see your driver's license or other identifying information. WHAT THIS MEANS FOR YOU: When you open a Card Account, we will ask for your name, address, date of birth, and your government ID number. IMPORTANT INFORMATION FOR OPENING A NEW CARD ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens a Card Account.
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