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Paypal is extremely slow in putting payments through. They dont take the payment immediately. I made a payment on the 1st and 1 week later it still hasnt reflected. Sending money to paypal wallet is the same. Takes an eternity to clear. If I make a payment it's because I have the money to pay it immediately but no they choose to take the money out a week or more after which by then with running a household it may no longer be in my account to pay. Slow is an understatement.
PayPal Credit seemed like a great idea at first. I made a transaction through them to pay for some courses I planned on taking. This first part is my error - when I went to pay off the amount, I thought I'd set it up so that the balance was coming from my regular checking account, and instead it pulled the money from a smaller, rarely used account that didn't have the amount needed to cover the transaction. Cha-ching, $25 from my bank. Ok, I made a mistake, no problem.
I decided to cancel the class that day and got a full refund of $267, which went immediately back to PayPal Credit. I thought the matter was closed. Imagine my shock when PayPal Credit tried to withdraw the same amount from my bank a second time a week later, even though it clearly showed that I didn't owe them any money. I cancelled my credit card account that day and am really hoping that stops the withdrawals and the overdraft fees for a nonexistent balance. I'm concerned, though, because now they think that they're supposed to send me a check for $267 when all I did was pay on credit and refund them the amount when I cancelled the class. I'm not entirely sure they can do basic math, and I don't trust them with my money. The representative told me I can never open up another PayPal Credit card again since I cancelled mine. I think that's probably a good idea.
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I opened a new account in December and have found NOTHING BUT DECEPTIVE practices with this credit card through Synchrony Bank. First off they are holding my paid in full payment that was electronically transmitted from my checking account. This hold by Synchrony Bank is because it is a new account. Interestingly I've already made 2 prior payments that were not placed on hold. So this larger payment hold will place an interest fee on my account. I've talked to 4 different account reps and they all gave a different rationale as to this 3rd payment hold. DO NOT USE PAYPAL CREDIT CARD thinking it is part of PayPal. It is not. What they do may be legal, but it is exceptionally deceptive and you will find that there is no resolution through their employees.
PayPal “Bill Me Later” was a great program! Take up to 6 months to pay with no interest (and NO MONTHLY PAYMENTS required). You could (if you chose) to make 1 payment in full at 5 months, 29 days and not pay a dime of interest. But if you paid a day after your 6 months was up, you’d owe the full 6 months worth of interest (reasonable)! PayPal “sold out” to Synchrony Bank and it went downhill from there, i.e. I made a $200 purchase in Nov. 2019 to pay in 6 months with no interest. SIMILAR to what it was before, but now they required a minimum monthly payment (that’s reasonable).
Two weeks later, I made a second purchase for $1300 during a promotion to split the charge for 24 equal monthly payments (also reasonable). Now, I’m the type of person that NEVER pays minimum, in fact I usually pay off my debts well (and I mean well) before due dates. In December, I made a $200 payment to be applied to my oldest charge IN FULL, and they applied only $28 to that, and the rest to the newer $1300 charge. Now this left me a balance due of $172 to that oldest transaction (remember, this has to be paid off in only 5 more months, the other in 2 years). So I called, and the person I talked to gave me a bunch of mumbo-jumbo and said they can’t allocate the payment already made to where I wanted it to go, but if I made another payment, they will allocate it to the eldest charge, and so I sent them $172 right then, promised it would CLEAR off the earliest charge.
A couple days later, I show a balance of $56.26 still due, the rest had been applied to that newer charge... AGAIN!! I called again, this time to pay another larger payment to not only to (for sure) clear that $56.26 left, but to bring that total amount on the account down to $1000 even. Of course, they applied that total payment to the more recent charge and that $56.26 still showed on the earliest charge!! So you see, no matter how much I paid, they insisted on keeping a balance on that $200 charge no matter how much of the balance I paid off. This way, I would likely still owe on that first charge after the 6 months had passed, and now I’d owe 6 months of interest despite my exceeded efforts! Dishonest swindlers!
So now in just over a week’s time, I made several payments to total 1/3 of my entire $1500 debt with these jerks, AND within the first 5 weeks. THEN the very next day, I get an email stating that I have a minimum payment of $84 due in 3 weeks!!! I chatted online with Reynold S. and explained what had been happening, despite the efforts I’ve made. He turned out to have a RUDE tone, and would not make any effort to correct my account. He just kept saying I have to make another payment before the due date, despite my most recent payment being posted YESTERDAY!
I immediately paid off the $1000 balance and have washed my hands of this horse** company. I paid off a debt I could’ve taken 2 years to pay off in less than 6 weeks and within 2 weeks because I won’t do business with a dishonest company that won’t reasonably work with me, who is not a credit risk and with a top rating. PayPal Credit/Synchrony Bank can KMA!
I give Paypal Credit a one star because I can't give them zero! Worst service and bureaucratic organization to accomplish nothing in the greatest amount on time for the most ridiculous amount of credit.
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In January 2020, my lender wanted to see a zero balance on my Paypal credit statement before approving my loan. I already paid this account off on December 1, 2019. I went to Paypal Credit account online to get my December 2019 statement but the last statement I saw was November 2019. I contacted a PayPal Credit agent. The agent told me that once I have a zero balance, there will be no statement generated. How stupid is this! I let the lender know about this issue. The lender told me I can do a screenshot of my Paypal account (showing that I have a zero balance) but the screenshot must have my name on it.
I went back to my online Paypal account and tried in many different ways to get the screen with my name on it. However, there's NO screen with my name on it even though it's showing a zero balance. This is double stupid! So, I have to wait for a letter from Paypal credit (stating that I have a zero balance.) This will take about 7 to 10 business days for me to get the letter. Then, I can send this letter to my lender. Everything is delaying because of the poor design of the Paypal credit online system. I will NEVER use this Paypal credit again.
I have been with PayPal and PayPal Credit for several years. I have never missed a payment with them or anyone. I had a payment due Nov 21, 2019 which I made on Nov 10th. I made another payment on Nov 27 in the amount of $4000.00 for Dec. I received a email saying I missed my payment and they are charging me $28.00 late fee. I called in customer service on Dec 29th and was told, "We will credit the late fee back and post your $4000 payment. You will see it with 24-48 hours." I received another email Jan 2 saying payment past due. I called back and talked to a supervisor again and was told, "We will credit your late fee within 24-48 hours." I said, "What about my $4000 payment?" He said. "You made it too early and it posted the previous month." This is total B.S.! I am paying my account off and will never use PayPal again.
Made a special financing purchase with PayPal Credit on 10/26. Set up an auto-payment with fixed payment on 11/8. Auto-payment never deduct anything from my account so I missed the 12/2 due date and almost missed the 1/2 due date. Got charged with a $38 late fee and a hit on credit score. Called customer service to check out what happened and was told auto-payment can take more than 1 billing cycle to take effect... What the heck is that? In all banks I used in my life, auto payment takes effect right after the set up, and takes care the next billing cycle. This is just a scam.
Merchant refunded PayPal, showed up on my statement as a “refund” but WAS NOT DEDUCTED from the total balance. Says I still owe these mystery charges with interest!! No one will help me. I have written and called. I have faxed a letter itemizing charges on my bill compared to the balance owed which does not add up and now they are charging interest for refunded purchases. When I ask them to sit with me to recalculate over the phone they make the customer service reps with below average IQs can not understand what I am saying. I am told to wait 2-3 Billing cycles for correction “if applicable” while I am accruing interest. I am totally done with this account.
I am attempting to resolve a credit dispute by phone and every time I reach someone and tell them what I am attempting to do they hang up on me...effectively not allowing me to take care of credit dispute! And therefore I have no recourse! Wondering if anyone has a direct line to a decision maker at PayPal that can take care of this issue - I have seen many other posts online have same experiences!
PayPal Credit Company Information
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- PayPal Credit (formerly Bill Me Later)
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