What is PayPal Credit?
PayPal Credit is like a credit card, without the plastic. It’s a credit limit that’s attached to your PayPal account which you can use for your online purchases.
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. 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.
PayPal Credit will provide you with a monthly statement showing your transactions and detailing the minimum repayment amount. Repayments can be made by monthly direct debit, directly from your PayPal account or by speaking to our customer service agents. For further information 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 your standard variable rate if the full amount is not paid off by the date shown on your statement.
0% for 4 months on all purchases of £99.00.
How does the 0% for 4 months offer work?
0% interest for 4 months is available on single transactions of £99.00 or more. This means when you spend more than £99.00 in one shopping basket, you’ll benefit from the offer and won’t be charged any interest on that transaction for 4 months after purchase. This applies automatically to any purchase made using PayPal Credit in excess of this value, except those to which another promotional offer (such as an instalment offer) applies. You can use this offer as many times as you like as long as you have an available credit limit.
During the 4 months’ offer period, the 0% balance is included in calculating your monthly repayments. You must make your minimum monthly payment or your 0% offer may be removed. Any remaining balance due after the offer period or any transactions under £99.00 will be charged interest at your standard variable rate. Please see the Credit Agreement for more details.
How do I apply?
Applying for PayPal Credit is easy. Simply complete our short application form
here and, if approved and once you accept the Credit Agreement, you’ll have a credit limit linked to your PayPal account almost straight away.
Before you apply, please make sure you:
- Are a UK resident aged 18 years or older
- Have a good credit history
- Have not recently been declared bankrupt
- Are employed and have an income greater than £7,500 per year
