PayPal Credit

PayPal Credit

formerly Bill Me Later

 3.9/5 (747 ratings)
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About PayPal Credit

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

PayPal Credit offers secure access to credit for online shoppers. It acts as a line of credit for any online purchases that accept PayPal. It offers credit access with no annual fees and no-interest financing for purchases above $99 in your first six months. PayPal Credit obscures your personal information when you purchase online and provides benefits like reimbursed shipping costs.

Overall Satisfaction Rating

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Pros

  • No annual fee
  • No interest over $99 for six months
  • Widely accepted online

Cons

  • Limited rewards
  • Unclear requirements

Bottom Line

PayPal Credit is a secure and convenient way to shop online. While its website doesn’t offer information about qualification requirements, the no-interest financing and no annual fees make it a popular credit option.

Top PayPal Credit Reviews

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Rated with 5 stars
Verified

I personally have only nice things to say about PayPal Credit. They were the first to give me a chance. My credit score was bad. But they gave me a small credit line, $250. That w...

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Rated with 5 stars
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I must uphold PayPal for it was PayPal… who granted me a credit line and that credit line would help the way for me to build a credit file. It was PayPal… who trusted in me when t...

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What is PayPal Credit?

PayPal Credit is a digital, reusable credit line that can be used to shop online. Known for offering customers the ability to “buy now, pay later,” PayPal helps customers budget in a straightforward way. Because it obscures all personal information when you shop, PayPal is widely considered to be more safe than using a traditional credit card.

How does PayPal Credit work?

With PayPal Credit, customers simply connect their bank account to their PayPal account for secure shopping. While shops must accept PayPal in order to get payment, it’s becoming more ubiquitous across the nation, with millions of stores already accepting it online.

PayPal also offers a few additional benefits when shopping online, like reimbursements for return shipping on certain purchases and purchase protection programs.

PayPal Credit card fee

PayPal Credit does not charge an annual fee for service. All purchases over $99 receive six months of no-interest financing. After six months, interest rates apply. For new accounts, the variable-purchase APR is 23.99% at the time of publishing. No interest will be charged if you buy and pay off your account within a month.

PayPal Credit FAQ

What credit score do you need for PayPal Credit?
PayPal does not indicate what credit score is required on its website.
Does PayPal Credit affect your credit score?
Yes. Because PayPal is considered a line of credit, your credit score will be impacted. Your credit will also be checked for approval.
How do I access my PayPal Credit account?
For management, you can access it via app or on the website. If you’re trying to pay for something using PayPal Credit, you will simply check out using PayPal (if applicable) and select PayPal Credit as your payment method.
Who qualifies for PayPal Credit?
PayPal doesn’t offer information about minimum requirements for approval.

Is PayPal Credit good?

PayPal Credit is a good option for people who have good credit and who shop online a lot. Because it doesn’t give you a credit card number, it won’t replace your credit card, but it provides additional benefits, like security and financing, for shopping online. Most will find that PayPal Credit is a good addition to their current financial situation, but it does require a credit check and will report to credit bureaus.

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How do I know I can trust these reviews about PayPal Credit?
How do I know I can trust these reviews about PayPal Credit (formerly Bill Me Later)?
  • 4,008,659 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Sept. 28, 2022

I had Synchrony PayPal Credit and my account was set on autopay. I was NEVER late! Then, at my surprise, I receive my first letter informing me that they were closing my account due to delinquency and not receiving payment for 3 months. I start receiving letter they're closing several accounts! All with excellent payment history! I quickly contact them; I knew there had to be a mistake! I know my bank account has the funds to pay my bills and the account is set on autopay. I contact PayPal immediately to attempt to fix this. The first customer service representative accuses me of not having enough money in my bank account. The next rep accuses my bank of having technical problems. Finally, the next rep admits they have a "GLITCH" in their system and advises me to cancel automatic payments and wait a few days and re-enroll for autopsy.

After admitting to the glitch; they included they will fix what happened to my account and will provide me a letter stating this happened within 10 business days. I NEVER got that letter. Nor will anyone recognize this happened, no one seems to know what I'm talking about when trying to get them to understand why payments have stopped. ALL they want is payment. They DO NOT WANT to fix the damage this caused to ALL ACCOUNTS with them, to my credit, and ability for new credit! I refuse to pay them until they fix this damage! They have caused a HUGE negative impact to my creditworthiness. They have closed accounts for NO REASON; they continue to blame me and add outrageous fees! This is NOT my fault nor my mistake. The only mistake I made was ever having accounts with Synchrony at all! Never again!

The accounts I had with Synchrony were Synchrony Home - $4500 credit limit, Shaw $3500 credit limit, Care Credit - $2000 credit limit, Rooms to Go - $3000 credit limit. All accounts were closed except for the accounts with a balance which was Rooms to Go and PayPal. Rooms to Go had a balance of estimated $1700, but the credit limit was reduced to $1700 causing my account to be over the limit. PayPal had a balance of estimated $1500 and that credit limit was reduced to $1500 making it over the credit limit as well.

The accounts that were closed and had excellent payment history (NO MISSED OR LATE PAYMENTS!) I have filed a complaint with the CFPB - nothing was done! If this has happened to anyone else, are you willing to fight back and join me in filing a civil lawsuit? If not, how have you handled the situation? What do you recommend? I would advise against anyone applying for credit with Synchrony at all. Stay Away at all costs!

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Rated with 1 star
Verified Reviewer
Original review: Sept. 27, 2022

Everything's fine until they sustain a loss thru fraud (hacking). Then they accuse you of causing it and limit your account! This means the money stolen from your account is "frozen" for "six" months! Meanwhile, even though your account is "limited" it is still attacked by hackers. They seem to have no control over your security. Avoid them!

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 22, 2022

    Never again will I use PayPal Credit (Synchrony Bank) definitely deceptive practices!!! They tried charging me $45 interest on a $226 purchase and tried charging me a second time for the same purchase that was paid in full. Sign me up for the CLASS ACTION LAWSUIT that's needed!!!!

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 1, 2022

    Venmo not user friendly. Unable to transfer funds to or from my linked bank. Venmo shows bank is registered. Very disappointed in transferring $$ to another Venmo member. Disappointed in Venmo,, I will not use the Venmo application in the future.

    2 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: July 12, 2022

    I ordered 4 tires from Walmart and immediately cancelled. They sent anyway and I refused. After a month of proving I did not get product, PayPal issued credit for merchandise less the sales tax of 28.16. I have disputed the way they told me to, provided Walmart documents as well as their own documents and now they want me to dispute again in a different way. All I want is my sales tax back. Should be a no brainier. Way too hard to deal with.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 4, 2022

    Don't try to use PayPal credit card, because it will worsen your credit score. To be honest my credit was going up and up about $4,000 credit and they keep increasing making it difficult to control it.

    2 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: June 24, 2022

    I know things happen but I cannot understand how 9 fraudulent charges were allowed to be charged to my PP MC via Sam's Club online site including the purchase of a membership followed by an additional 8 purchases of gift cards back to back in separate purchases. I was told the charges declined however was later told they were not declined. Why would a cardholder need to make separate purchases of gift cards at same time, date and same merchant when 1 purchase for total could have been made. My point is what verification did PayPal require for these online purchases… NONE!!!

    They were all approved with just card number in which I have no idea who made these charges. No Security number requested from back of card by PayPal just APPROVED. I would hope that I would have had more security for purchases from PayPal; just as you are not responsible for fraudulent charges…YAY… Thank GOD because you are certainly not requesting verification for these types of purchases. Synchrony Bank is the bank for both PayPal and Sam's Club Credit Cards of which I have cards from both. PEOPLE if you have either cards please, please watch your statements from both… just in case strange purchases are made and APPROVED without proper verification!!! RED FLAG should have been noticed when purchases made separately and back to back… decline unless VERIFIED >>> PAYPAL!!!

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    Rated with 1 star
    Verified Reviewer
    Original review: June 16, 2022

    PayPal Credit Synchrony Bank falsely advertised deferred interest in purchases of $99 or more. However, its system will automatically apply payments to promotional transactions expiring further out rather than the standard balance first which is absolutely subject to interest and promotional transactions expiring the soonest. So, I am required to call customer service after every payment to ask that my payment be reallocated in a way that would be consistent with the advertising and deal with poorly trained account managers who give you a different explanation of how the process works every time I call and then it is real hit or miss whether my payment reallocation requests are processed correctly. I have to spend hours on the phone each month, sometimes multiple times a month since I make payments more frequently.

    It has been a very stressful and frustrating nightmare dealing with this really horrible process. I don’t recommend anyone be put through what I have had to experience and then they have the audacity to ask for surveys and each and every time I let them know how horrible they are but nothing ever gets done so it doesn’t matter anyway. I have attempted to escalate my situation to the Better Business Bureau as they should not be allowed to get away with this.

    4 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: June 9, 2022

    I opened a PayPal Credit account 4 years ago when eBay had direct connection with them for payments and purchases. But since eBay no longer deals directly with PayPal it's not very good anymore for PayPal Credit. I have had 3-4 hours on the phone this past 2 weeks asking for them to fix things because eBay made mistakes in refunding to my account. So I am closing my PayPal Credit account. It's just not worth the hassle.

    Synchrony Bank who runs PayPal Credit seems ok but there's a lot of ways you can miss deadlines for promotional purchases because of the way they allocate payments to certain balances but they don't tell you they do this until you end up with an issue. I paid off a loan but they without my knowledge or consent did not pay off the total of the loan amount and then they charged me interest and put an amount on my non-promotional balance, it took 2 weeks and no less than 10 phone calls and they did agree to waive the interest. But it's just too much work so I am done with PPC.

    3 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: June 1, 2022

    Ordered a vacuum cleaner from a site that accepts PayPal. It was my first time using PayPal credit so I was getting a discount on the purchase and it seemed like a good deal. Needless to say several months later I have yet to receive the vacuum and PayPal did nothing!

    2 people found this review helpful
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    PayPal Credit Company Information

    Company Name:
    PayPal Credit (formerly Bill Me Later)
    Website:
    www.billmelater.com