PayPal Credit

FAQs

What is PayPal Credit?

PayPal Credit is like a credit card, without the plastic. It’s a credit limit that sits alongside your PayPal account which you can use for your online purchases.

What credit offers are available?

A 0% interest offer you can use again and again: PayPal Credit’s 0% interest offer is better than just an introductory offer. Every time you spend £99 or more, you will automatically get 0% interest for 4 months on that purchase. *

Plus, you can spread the cost of purchases under £99 at the standard variable rate of interest, currently 19.9% p.a.

* 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 will be charged interest at 19.9% p.a. (variable). In order to maintain the 0% offer, you need to keep up monthly repayments and stay within your credit limit.

How do I apply?

Applying for PayPal Credit is easy. Just click on the PayPal Credit button on our checkout page.

The application form takes minutes to complete. PayPal will then run a credit check and, if approved, you’ll have a credit limit linked to your PayPal account as soon as you accept your Credit Agreement.

You can use the credit limit granted to pay for today's purchase and future purchases at thousands of online stores where PayPal is accepted, up to your credit limit.

Do I need to reapply if I already have PayPal Credit?

If you already have PayPal Credit you do not need to reapply, just select PayPal Credit as your payment option at checkout.

Do I need to have a PayPal account?

yes, however if you don’t have a PayPal account, you can create one as part of the PayPal Credit application.

Signing up for a PayPal account is free and easy; all you need to do is provide your email address, create a password and accept PayPal’s User Agreement.

What do I do if I am unsuccessful in applying for PayPal Credit?

If you have been declined for PayPal Credit, PayPal will send you more information about why your application was unsuccessful. You can still use PayPal to complete your purchase.

What happens if I want to return the item I bought using my PayPal Credit?

Just return your purchase as normal and the money will be refunded to your PayPal Credit account.

What is the cost of PayPal Credit outside of promotional offers?

The Representative Example below shows the typical costs of using a PayPal Credit limit, without using promotional offers:

Representative Example:

• Purchase rate 19.9% p.a. (variable)
• Representative 19.9% APR (variable)
• Assumed Credit Limit 
£1,200

How do I make payments?

You can make a one-off repayment from your bank account, debit card or PayPal balance at any time, either online or by calling PayPal Customer Service. Alternatively you can set up monthly Direct Debit payments from a bank account you've linked to your PayPal account. To set up Direct Debit payments, log in to your PayPal account and follow the instructions on the Make a Payment page.

Are there any fees associated with PayPal Credit?

Provided you make a payment on time there are no charges. If you're late with a payment, PayPal will charge you a late payment fee of £12. You'll be charged a return payment fee of £12 if you have insufficient funds to cover the payment. We also charge a fee of £5 if you request a printed copy of a previous statement. For more information on how these fees apply, please refer to the Credit Agreement.

When will my payment reflect on my PayPal Credit balance?

Payments will reflect on your PayPal Credit account the same day you make them. It may take a few days for your available balance to update and for the payment to show on your bank statement.