Nigh PayPal Credit and Our Offers

PayPal Credit is similar a credit menu, without the plastic. Information technology'south a credit limit that'due south attached to your PayPal account which you can use for your online purchases.

If your application is successful, PayPal Credit volition be bachelor as a funding source within your PayPal wallet and can exist used for purchases in near places where PayPal is accepted. Y'all tin make purchases in the aforementioned way as you would with a normal credit card, by choosing PayPal Credit as your funding source at checkout.

PayPal Credit will provide you with a monthly statement showing your transactions and detailing the minimum repayment amount. Repayments can be fabricated by monthly straight debit, direct from your PayPal account or past speaking to our client service agents. For further data on how you can pay your PayPal Credit balance, see the 'Make a Payment' section below.

For purchases less than £99.00, interest is charged at our standard rate of 21.nine% p.a. (variable) if the full amount is non paid off past the date shown on your statement.

In addition, PayPal Credit lets you lot access two types of promotional offers:

  • 0% for 4 months on all purchases of £99.00 and over; and
  • instalment offers with selected merchants.

    • If you use any of these promotional offers, they will besides be detailed on your monthly statement, also as in the PayPal Credit section of your PayPal account.

    Your monthly minimum repayment will exist shown in each statement and in the PayPal Credit section of your PayPal account. Any offers yous have are likewise detailed in these locations.
    Your minimum repayment corporeality is calculated based on your purchases, and volition include:

  • whatever instalment offer payments due for that month;

  • the full residuum if less than £five.00, or the higher of £v.00 or two% of the outstanding rest (which excludes any instalment offer balances, but includes any 0% for iv-month offer balances); and

  • any involvement, charges, and deficit.

    • If you fail to brand minimum repayments on time or in certain other circumstances, PayPal may remove your offer. Please come across your Credit Agreement for more details.

    Hither's an case of how your minimum repayment is calculated:

    Assuming you had the post-obit transactions on your account:
    Instalment offer Standard balance 0% for 4 calendar month residuum
    £600.00 at 0% involvement, spread over vi months £300.00 £100.00
    The minimum repayment for each component would be calculated as follows:
    £100.00 2% of £300.00 = £6.00 2% of £100.00 = £ii.00
    Your minimum repayment would be £100.00 + £6.00 + £two.00 = £108.00

    0% interest for 4 months is available on single transactions of £99.00 or more than. This means when yous spend more than £99.00 in one shopping basket, you'll benefit from the offer and won't be charged whatsoever involvement on that transaction for 4 months afterwards purchase. This applies automatically to any purchase fabricated using PayPal Credit in excess of this value, except those to which another promotional offer (such as an instalment offering) applies. You tin use this offer as many times as you similar as long as yous have an available credit limit.

    While no interest is charged, whatever remainder subject area to a 0% for 4 months offer volition be included in the calculation of your minimum repayment amount.

    Whatever remaining residual due afterwards the four-month promotional flow volition be charged at 21.ix% p.a. (variable). If yous neglect to brand minimum repayments on time or in certain other circumstances, PayPal may remove your offer. Please see the Credit Agreement for more than details.

    With selected merchants, when you check out with PayPal Credit, you'll be shown a pick of instalment offers which enable you to spread the price of your purchase across a number of repayments. These instalment offers vary past merchant and allow you to choose a set monthly repayment over a flow from 6 to 48 months to help spread the cost of larger purchases in a more than manageable way.

    Instalment offers will ever have an involvement rate lower than the standard variable rate, and many merchants offering 0% instalments with PayPal Credit. If y'all already have PayPal Credit, you can have advantage of these offers without having to reapply every bit long as y'all accept plenty available credit limit.

    It is important that you think about whether you tin afford the monthly repayment agreed for whatsoever instalment offer. This will exist added to your monthly minimum repayment amount and will need to exist paid each month.

    If you fail to make repayments or in sure other circumstances, PayPal may remove your offer and any outstanding amount volition exist charged at 21.ix% p.a. (variable). Please come across the Credit Understanding for more details.

    Y'all can have multiple promotional offers on your account, up to your agreed credit limit and without needing to reapply. This ways you can combine standard purchases with the 2 types of promotional offer bachelor to help spread the price and manage your budget.

    Bold you're upwardly to date with your repayments from previous billing periods, repayments on your account are allocated in the following social club:

  • First, the repayment will be practical against whatever monthly payment due on an instalment offer.
  • Second, whatsoever amount remaining will be applied towards purchases that are subject to the standard variable rate of 21.9%.
  • Third, whatsoever amounts remaining subsequently this will exist practical towards purchases with an instalment offer or 0% for 4 months offer on your account.

    • Repayments are allocated in society, starting with the buy subject to the highest interest rate and catastrophe with the purchase subject to the lowest interest rate. This reduces the overall amount of interest you would otherwise pay. In the event that two promotional offers have the same interest rate (for example, ii 0% for four-month purchases) these are repaid based on the death date, with the soonest to elapse being repaid first.

    Here's an case of how nosotros allocate your repayments:

    Assuming y'all had the following transactions on your account:
    Instalment offer Standard rest 0% for iv calendar month balance
    £600.00 at 0% interest, spread over 6 months £300.00 £100.00
    The minimum repayment for each component would be calculated as follows:
    £100.00 2% of £300.00 = £half dozen.00 2% of £100.00 = £2.00
    Your minimum repayment would exist £100.00 + £6.00 + £2.00 = £108.00
    Assuming you repaid £110.00. This would be allocated as follows:
    £100.00 towards your instalment offer corporeality due £10.00 towards your standard residual equally this accrues interest at 21.9% p.a. £0.00 towards your 0% for four months rest
    This ways that you lot will keep your instalment offering on track, but otherwise allocates your repayments in a way that minimises the interest yous will pay.

    We've set up our repayments to act in your best interests. They are designed to keep your instalment offers on track, and to minimise the amount of interest you'll pay on the rest of your purchases.

    If you're experiencing any detail difficulties, please contact us and let us try to assistance. For further data, delight come across our 'What if I can't pay?' FAQ beneath.

    Getting Started

    Applying for PayPal Credit is like shooting fish in a barrel. Only consummate our short application form hither and, if approved and once you accept the Credit Understanding, you'll have a credit limit linked to your PayPal business relationship virtually directly away.
    Before you utilise, please brand sure you:

    • Are a United kingdom resident aged 18 years or older
    • Have a good credit history
    • Have non recently been alleged bankrupt
    • Are employed and accept an income greater than £7,500 per year

    The outset stage of the PayPal Credit application process will ask you lot to sign into your PayPal account or offer you the opportunity to sign upwardly for one. Once you've signed upwards for a PayPal account, you tin begin the awarding for PayPal Credit. Click hither to apply.Click here to apply Signing up for a PayPal business relationship is free and easy; all you demand to do is provide your electronic mail address, create a password and accept our User Agreement.

    The awarding form takes minutes to complete. We'll so run a credit cheque and if canonical, you lot'll have a credit limit linked to your PayPal account once you've accepted your credit agreement. This approving process will only take a few seconds and and so you're ready to become. There can be a time lag between approval and when yous tin can view your PayPal Credit business relationship online but this should update within a few days.

    You can contact PayPal Client Services to change your business account to a personal account to apply for PayPal Credit. Alternatively, y'all can create a new personal account to apply.

    To determine the size of your credit line we utilize the information you provide in the awarding form along with internal PayPal data and an external credit check.

    Make a Payment

    You lot can set up monthly directly debit payments, provided you have a bank business relationship linked to your PayPal business relationship.

    • Log into your PayPal account and select PayPal Credit
    • Select "Set a direct debit payment"
    • Choose how much you want to pay each month and from which bank account.

    Not added a new bank account to your PayPal business relationship?

    To add a new bank account to your PayPal account:

    • Log in to your account
    • Select "wallet"
    • Cull "add together a bank account".
    • Once a bank is added, you lot can make payments straight to your PayPal Credit account or prepare up a direct debit.

    direct debit slide-1 direct debit slide-2 direct debit slide-3 direct debit slide-4 direct debit slide-5

    At that place are 4 unlike options bachelor when you cull to prepare upwardly Direct Debits. You can choose to pay:

    • the minimum amount due
    • the last statement balance
    • whatsoever "other corporeality" in between each month.
    • If I make changes to my directly debit how long will it take to implement?
      If you make changes to your direct debit it can take upward to a month to implement which means yous may need to add a transmission payment in month to ensure yous are covered and the direct debit changes will be implemented the following calendar month.

    If you choose to pay the minimum amount due or the final statement balance, you will need to gear up the Direct Debit at least 4 working days earlier your due appointment for the Direct Debit to start on that due date. If you set up it upwardly any later than this, the Straight Debit may not start until the next calendar month. Nosotros will tell you when you're setting upward the Straight Debit exactly when it will take upshot from and if y'all need to brand an interim payment.

    If you cull to pay whatever "other amount", it is of import to note that the Direct Debit will not start on your side by side due date. It is probable to showtime the following month. Please exist certain to make a single payment the month y'all fix it upward to avoid missing whatsoever payment due. We will tell you lot when yous're setting upward the Direct Debit exactly when it will take effect from.

    We volition automatically send y'all monthly reminders to notify you of when your payment is due. We'll ask you lot to make your first payment around 35 days from when your PayPal Credit account was opened.

    Nosotros will automatically send yous monthly e-mail reminders 5-15 days in advance of your payment due date. In order to receive these reminders, ensure the correct electronic mail accost is linked to your PayPal account.

    Payments will reflect on your PayPal Credit account the same day you brand them, withal, will show as pending. Information technology can have upwards to 5 working days for the funds to exit your banking company account and be applied to your PayPal Credit account.

    If y'all're finding it hard to make a payment, Delight call our PayPal Credit customer service squad on 0800 368 7155 and we will do our all-time to assistance you. The organisations below should also be able to reply your questions and propose suitable courses of action:

    Citizens Communication:

    • England and Wales www.citizensadvice.org.united kingdom
    • Northern Republic of ireland (Communication NI) world wide web.adviceni.net
    • Scotland (Citizens Communication Scotland) www.cas.org.uk

    Alternatively:

    • Payplan: telephone call 0800 917 7823 or visit www.payplan.com
    • StepChange Debt Charity: telephone call 0800 138 1111 or visit www.stepchange.org
    • National Debtline: call 0808 808 4000 or visit www.nationaldebtline.co.u.k.

    You can discover this out by logging into your PayPal account on a desktop estimator and by clicking on the summary folio. Y'all can also view when to brand a payment via the app. Click on PayPal Credit and the 'Make a Payment' button.

    Manage your account

    You can keep track of your PayPal Credit activeness and history by logging in to your PayPal account and selecting PayPal Credit.

    manage account slide-1 manage account slide-2

    • Login to your PayPal account on your desktop and select PayPal Credit
    • Select "Come across statements"
    • You can view all statements online likewise every bit download them as PDFs

    We will email you monthly to allow you know when your latest argument is ready to view.

    find statement slide-1 find statement slide-2 find statement slide-3

    • Login to your PayPal business relationship
    • Select the "Settings" icon
    • Update your contact details

    contact details slide-1 contact details slide-2

    Before you shut your business relationship, you demand to ensure that your balance has been paid off in total.

    To shut your business relationship, yous can call our PayPal Credit customer service squad on 0800 368 7155.

    Using PayPal Credit

    PayPal Credit is bachelor to employ at thousands of stores online where PayPal is accustomed. Transactions can be fabricated in all currencies that PayPal supports, non but GBP.

    We also offer instalment offers at select merchants.

    • At checkout, cull to pay with PayPal
    • Simply modify the payment source to PayPal Credit
    • Confirm and Pay

    On those merchants where instalment offers are bachelor, call up to lookout for PayPal Credit at checkout to see the offers available to y'all.

    If you take the PayPal App, we'll notify you every time you lot apply PayPal to pay, including PayPal Credit transactions. If you don't take the App, you can download it hither

    At that place are some concern categories where PayPal Credit cannot be used as a payment selection, so information technology won't exist offered to you every bit a payment option during checkout.

    Excluded categories include merchants selling adult content, stored value cards, and gambling.

    Currently, your PayPal Credit limit cannot be used to ship money to friends and family or to deposit funds into your bank business relationship.

    Currently, your PayPal Credit limit cannot be used for a cash advance.

    PayPal Credit will non be available as a funding source to pay an invoice or coin request sent via PayPal.

    Yes. Yous're not liable for unauthorised purchases made from your PayPal Credit account. PayPal Heir-apparent Protection as well applies to purchases funded with PayPal Credit. If this happens, you should immediately report information technology to us so we tin investigate and resolve it for you. You lot tin can report an unauthorised transaction through the Resolution Centre of your PayPal account. This is independent of any other statutory rights you may take.

    Here's how to report an unauthorised transaction:

    • Log in to your PayPal account.
    • Under 'More than nigh your account', click Resolve a problem in our Resolution Middle.
    • Click Dispute a transaction
    • Select the item you wish to dispute, Click "Go along", and follow the rest of the instructions provided to submit your dispute.

    You tin admission the PayPal Credit hub through your Business account.

    • Log in
    • Select "PayPal Credit"

    Fees

    Belatedly Payments
    If you're late with a payment, PayPal may charge you a late payment fee of £12.00.

    Returned Payments
    You may be charged a return payment fee of £12.00 if you have bereft funds to cover the payment.

    Statements (Paper Copy)
    We too charge a fee of £5.00 if y'all request that nosotros transport y'all a printed copy of a previous statement. All statements are available to download or view online within the PayPal Credit section of your PayPal account.

    For more information on how these fees apply, please refer to the Outline of Credit, the Standard European Consumer Credit Information document or the Credit Agreement.

    No. There is no almanac fee for a PayPal Credit account.

    Persistent debt

    Persistent debt is defined as any client who pays more than in interest, fees and charges than they repay of the amount they borrowed (known every bit "chief") in a rolling xviii-calendar month menses (with a rest greater than £200.00 GBP during that time). We volition notify yous if you lot consistently fall into this category at 18, 27, and 36 months.

    Every bit a responsible lender, PayPal monitors the repayments of our customers. We look for signs of potential difficulty and try to recognise where improvements tin be made. In this instance we've identified that if you increased your repayments yous would repay your debt more quickly and reduce your interest costs.

    PayPal Credit offers a few dissimilar ways for you to make payments.

    You might consider setting up a Straight Debit, which is an like shooting fish in a barrel way to pay the amount yous choose automatically rather than having to make them manually yourself each calendar month. To ready a Direct Debit or alter your existing Directly Debit, log in to your PayPal business relationship.

    Alternatively, you tin can make or schedule an additional payment in your account past following the link above and clicking the "Brand a Payment" button. You tin also make a payment past calling 0800 368 7155.

    If you don't think you lot'll exist able to increase your payments because of other financial commitments, you can call us on 0800 368 7155. Nosotros'd similar to help talk you through the options that may be available to you. Nosotros're open 8.00am to 6.30pm Monday to Sunday.

    Cantankerous Currency

    PayPal Credit can at present be used to purchase items in all currencies PayPal supports. PayPal will convert all transactions into UK Pound Sterling in advance of applying them to the Credit Business relationship. Transactions will exist displayed in your local currency when they show on your PayPal Credit statement.

    If a currency conversion is needed for your payment, it will be completed at the transaction commutation rate nosotros set for the relevant currency substitution. When you select PayPal Credit as your payment method you volition see the exchange rate displayed at checkout. For farther information on how we convert currency, meet the user agreement.

    If you authorize for a promotional offering, either our instalment offers or our 0% for 4 months offer, this volition be practical regardless of which currency you transact in.

    (Occasionally, commutation rates may fluctuate and touch whether a non-GBP transaction qualifies for a promotional offer. If y'all believe yous should have qualified for a promotion – please phone call our Customer Services.)

    Yes. If an eligible item that you've bought online doesn't arrive or is significantly not equally described in the seller's description, you can make a claim under PayPal Heir-apparent Protection. Buyer Protection covers all your eligible PayPal purchases including those paid with PayPal Credit.

    You can render the goods to receive the refund, if eligible, direct to your PayPal Credit account. The refund volition be displayed in the amount you paid in GBP.

    At checkout, you will be shown the transaction value in the original currency that appears on the merchant's website as well as the converted transaction value in GBP.

    Your PayPal Credit statement will bear witness the transaction in GBP only. No exchange rate information volition be shown. Y'all can however view the substitution charge per unit information in your customer dashboard online as well as viewing your activity on your PayPal account statement.

    Credit Limit Increases

    Nosotros review your credit limit monthly and may invite you lot to increase your limit in one case yous've been a PayPal Credit client for at least 3 months. Yous can always request a credit limit decrease or opt out of receiving offers to increase your credit limit.

    No. Unfortunately, you cannot request a credit limit increment. Credit limit increases volition be offered to you when you become eligible.

    To be eligible for a credit limit increase y'all must:

    • Have been a PayPal Credit customer for at to the lowest degree 6 months
    • Have non been in arrears in the terminal half dozen months
    • Take transacted with PayPal Credit in the last half dozen months.

    Log in to your PayPal account and follow the 'manage preferences' prompts. You can too find the 'Manage preferences' link in the PayPal Credit tile on your Summary page, equally shown beneath:

    limit preferences slide-1

    limit preferences slide-2

    You tin can change your limit back to its original limit at any time past calling PayPal Credit Client Service on 0800 368 7155.

    No, your new preferences will apply to all time to come offers just.

    In that location are 3 options for credit limit increases:

    • Automatically accept all credit limit increases. This ways whatever future credit limit increase that is offered volition exist applied automatically to your business relationship.
    • Manually accept or pass up each credit limit increase. This ways that when an offer becomes bachelor to you, y'all volition need to log in to your account and accept or refuse the offering yourself.
    • Turn off credit limit increases. This means you will not be offered a credit limit increase fifty-fifty when you become eligible.

    Yes, when you are offered a credit limit increase you can choose to employ information technology to your business relationship straight away or at any time earlier the offer expires.

    No, once an offering has expired you'll demand to await until your adjacent offer. Nosotros review your credit limit monthly and will continue to offer y'all a credit limit increment equally long as y'all run across our eligibility criteria.

    Credit Limit Decreases

    Every bit responsible lenders we constantly monitor exposure and utilisation of customers' limits. Following a reassessment of client credit limits, we have decided to reduce your limit to a more appropriate level. Unfortunately, in that location is not an pick to keep your existing limit and PayPal has the correct to reduce your limit at any stage as referenced in section one.vi of your PayPal Credit agreement.

    Unfortunately we are unable to change the limit reduction corporeality.

    No, unfortunately not, your limit decrease volition take effect on the date specified in your email communication.

    No. As a responsible lender nosotros regularly get updates from credit reference agencies on your business relationship. These updates along with a change in limit do not appear on your credit file.

    Other FAQ's

    Nosotros'll e-mail y'all with more information about why your application for PayPal Credit was unsuccessful. If you employ during check out and get declined for PayPal Credit, you can however employ PayPal to check out securely with your debit or credit card.
    If y'all want to re-use, y'all will be able to 35 days after your last application.

    A Representative April (Almanac Per centum Rate) is shown on products where you borrow money so that an easier and fairer comparing can be made. It's the typical total cost of a credit product expressed equally a per centum, spread over 12 months.

    The Representative Annual Percent Charge per unit for a PayPal Credit account is 21.9% (variable) per annum. This is also the standard rate of involvement that will apply to your purchases.

    Sometimes we'll run promotional offers with a lower charge per unit of involvement (such as 0% interest per annum for 4 months). Your standard charge per unit of interest will not apply to transactions charged at a lower interest rate during the promotional offer catamenia. See your Credit Agreement for more details.

    We may offering to increment your standard interest rate by giving you at least 30 days' detect. For more than data on when nosotros would do this please see your Credit Understanding.

    We are required to carry out creditworthiness and affordability checks to determine if PayPal Credit is right for you. As role of this procedure, we review data held on you by credit reference agencies and other relevant information prior to approving y'all for PayPal Credit.

    You may withdraw from your PayPal Credit account by calling us within 14 days of entering into the Credit Agreement. Yous may close your PayPal Credit account at whatsoever time, but must repay whatsoever outstanding balance.

    PayPal Credit tin be used to purchase items in all currencies that PayPal supports.

    The first option is to contact the merchant and see if they can cancel the social club. If it'south likewise late for the merchant to do so, then you can return the appurtenances to receive the refund straight to your PayPal Credit account.

    Yeah. If an eligible item that you've bought online doesn't arrive or doesn't match the seller'south description, PayPal Buyer Protection volition reimburse you. Heir-apparent Protection covers all your PayPal purchases including those paid with PayPal Credit.

    For full information on eligibility, run into our User Agreement.

    Pay After Delivery is a payment method that we're offer to selected customers, where you don't pay for your detail until later on you've received it.

    We pay the seller immediately, so they tin send you the item straight away, simply nosotros wait for 14 days before we debit the money from your depository financial institution business relationship. This gives you fourth dimension to receive and view your detail earlier yous pay. If the detail doesn't arrive or isn't what you expected, you lot've 180 days from the transaction date to report a problem equally usual. Our Buyer Protection can cover y'all for eligible items.

    Contact Us

    For more information, you lot can phone call PayPal Customer Service on 0800 368 7155.

    Hours of service:
    Mon to Sunday 8am to half dozen.30pm (GMT)

    If you lot're calling from outside the Uk, call 0044 800 368 7155
    Fax: 020 8080 6518

    Alternatively, if you're an existing customer you can utilise our secure message center for all account related enquiries past logging into your PayPal Account.

    Representative Example:

    Representative

    21.9% April (variable)

    Purchase interest rate

    21.ix% p.a. (variable)

    Causeless Credit limit

    £one,200.00

    * The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transactions under £99.00 will be charged involvement at 21.ix% p.a. (variable). In gild to maintain the 0% offer, yous demand to keep upwards monthly repayments and stay within your credit limit. Credit subject to status. Terms and conditions apply. UK residents but. PayPal Credit is trading proper noun of PayPal (Europe) S.à r.50. et Cie, S.C.A. Société en Commandite par Actions Registered Office: 22-24 Boulevard Imperial L-2449, Luxembourg RCS Luxembourg B 118 349. Deemed authorised and regulated past the Fiscal Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the Great britain. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the United kingdom of great britain and northern ireland for a limited period while seeking full say-so, are available on the Financial Conduct Potency's website.