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PayPal Credit

PayPal Credit

formerly Bill Me Later

 3.8/5 (443 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

  • 5 stars
  • 4 stars
  • 3 stars
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  • 1 stars

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
Verified

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.

PayPal Credit Reviews

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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)?
  • 3,392,606 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 5 stars
Verified Reviewer
Original review: Nov. 7, 2020

Why I love PayPal?

1. This company appears safe for buyers, as the site platform is both secure and encrypted. My opinion for the key data protection issue for buyers may be external to PayPal and they will need to have a secure digital connection to PayPal. So their data should be kept safe from prying eyes.

2. PayPal Payment Review is a free fraud-detection feature and notifies merchants using PayPal Checkout of potentially high risk payments. The company offering increased protection against processing and shipping fraudulent orders. Once a scammer has hacked into somebody else's PayPal account (as in the case of the phishing email scam), they can make purchases and send payments with the money from the account they have taken over... PayPal may reimburse the seller if they are able to confirm that the account that made the payment was hacked.

3. Using PayPal Payments is a very easy to receive and send money and all transactions are completed very fast.

4. PayPal Credit is fairly innocuous, but also pretty unnecessary. The best thing you get out of the line of credit is increased time to pay for larger purchases.

5. It is very important to know: PayPal Credit does report to the credit Bureaus and will affect your credit score. Late payments will be reported to Experian specifically.

6. I have a very good experience with PayPal credit for a purchasing eBay.

PayPal Credit is an unsecured line of credit that you apply for and can use online anywhere PayPal is accepted. Your credit line is linked to your PayPal account... Unlike PayPal's credit cards, PayPal Credit doesn't offer rewards. But it does offer some special payment deals, like longer interest-free terms.

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Rated with 1 star
Verified Reviewer
Original review: Sept. 14, 2021

I recently accidently sent money to the wrong recipient by using my daughter's phone number. It was not sent to her but someone else. I noticed it immediately because the confirmation showed a different recipient. I immediately went on line to chat; got nowhere. Called within 1 minute of the transaction notification to explain what happened. Well they will take your money and send to someone else immediately. Takes 10 days to get it back and they want You to reach out to who They mistakenly sent your money. When I called she said "never use a phone number to send money because it can sometimes go to the wrong person". Took over a week to get my money back.

Also transferred money to my account. Was taken from my bank and sent; my online history showed it as a completed transaction. I called and was told Yes it was sent and received on the same day. I was told by the PayPal call center that they did not receive it yet and it takes 3-5 business days to process. Well how is it you can send my money to the wrong person Immediately and yet takes me 10 days to get it showing in my PayPal account? I will Never use PayPal to send money to anyone ever again!

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 21, 2021

    It took 5 months for Paypal Credit to resolve a dispute with Saks 5th Ave. Paypal credit kept denying the claim. Say the package had not been delivered. Even though I provided the Fedex tracking # that said it had been delivered. I sent in documents and emails from Saks that the product had been returned on 3/16/21. It wasn't until I called Saks, gave them Paypal's transaction #. Then Saks contacted pay pal credit and pay pal credit finally gave me the credit of $773.80. Pay pal credit kept denying the claim. At least 5 times.

    What a joke. Closed my acct with pay pal credit on 8/21/21. The date the refund went thru. Also you have to ask to someone in the USA when you call Customer service. Never talked with anyone in disputes. They don't take calls. All I can say is I would not use pay pal credit if they were the last bank on earth. Even pay pal who is not associated with Pay pal credit said that the "customer is always right" and my receipt from Fedex with the tracking # should of been enough. Saks provided the return label with the purchase.

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 9, 2021

    Interest and late sucks with PayPal Credit over the years **. These guys are sucking money even after paying minimum charges. DO NOT Take the PayPal or PayPal credit. Never see company get the money like this oh dam god!

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    Rated with 2 stars
    Verified Reviewer
    Original review: Aug. 4, 2021

    Around March of 2021 I noticed an issue. PayPal credit payment did not clear my bank, I was paying before the due date so it was not late. Two days after the payment, PayPal credit informed me my payment was declined. I checked the account. Sufficient funds were there so I paid from a different account because that bank was NO LONGER listed in my PayPal banks listed as linked. In May 2021, I received an email that I was late on my payment, I could have sworn I made the payment. Two days later the money was taken out of my account. I had a late payment fee, two days later the same amount was taken out of my account again. The nice thing about PayPal is they will warn you if you already scheduled a payment, this time there was NOT a warning, it was like I never scheduled a payment.

    July 16, 2021 I made my monthly payment. On July 29, 2021 I was informed my payment was rejected. I was also informed that since this was the 2nd returned payment this year they were closing my account. It was then listed in collections. A demand of $267.00 for a payment was made. I checked the account I paid on July 16th and the money was still there. I called PayPal to see what the problem was, I ended up talking to a foreign lady who could barely speak English, she assured me that my account was NOW current and would be reinstated. Her answer was wrong. Once closed it is closed for good.

    I called Sunday to talk to a different person, Michelle explained to me I had two NSF payments this year and it was closed for good. Not a good thing to have listed on a Credit Report. Michelle said she was going to transfer me to a credit specialist to see if she could help me get things straightened out, because it should not have taken 13 days to notify me that my payment was rejected.

    I got a very nice person, her name is Gerri. She started to look through my files and found the problem, the bank I was paying from was not officially linked to PayPal, and instead of a NSF payment, it was rejected because the bank was NOT linked properly. She fixed the NSF fee for July, and reinstated my account. PayPal had an issue starting the weekend I made my payment, the system was down for 8 days, this is why I was NOT notified of the banking issue. Great! "Ohhhh no. I just made a payment with the bank that was NOT properly linked, can we cancel the payment?" No, was her response. Now what? That one is going to fail too! She helped me get my bank linked to my account. Monday the money came out as it should.

    Not so great. On Friday July 30th my credit report was released, on that report was the notification my PayPal was closed and placed into Collections. This little remark plunged my credit rating down. Thank you so much! It will take 15 to 30 days to get it fixed. All because a company had a software issue that caused all of this. I wonder how many other people were affected by this issue. I hope everyone who had this happen to them also get it resolved. I like PayPal, but this left a bad taste in my mouth.

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 30, 2021

    I use an invoicing service that switched to PayPal and had to set up an account. About 2 weeks later, a customer asked if I accept PayPal, I replied yes. That was on July 14th. The next day I looked and PayPal site said I would have to wait up to 20 days to get my money. On July 28th I called PayPal and spoke to a "supervisor" which after a long discussion of going nowhere and requiring more proof that I am a business, to them to give me my money and close my account. They then said they will hold my money until 1/2/22, or 180 days.

    They then told me that within 24-72 hours that a manager would call me after I had asked for the legal department so I can know where to send the paperwork from the lawsuit I will file, which they never gave and hung up. On 7/30/21 I reluctantly uploaded the added information that they strong armed me into giving so that I just get the money that is owed to me. After doing so I get the same automated response of they cannot process my request. Next step small claims court.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 20, 2021

    Was searching for pellet smokers online, and came across Pitboss-USA.com and knew they made great smokers. There was a clearance sale going on of older models, and I purchased 2 of them. I used my Paypal account, which is tied to my Credit Card, thinking I had backing from Paypal if something went wrong. I was dead wrong on that idea! I never received any product from the company, but they did provide a FALSE tracking number, that even the Post Office says was NEVER delivered to my address.

    I asked Paypal to refund my money, they just checked and said they saw a tracking number, so there are no repercussions. There are a couple problems with with - first and foremost, if there is a pitboss smoker being delivered in a mailbox, via USPS, instead of FedEx or UPS, that should send red flags. But secondly, when the USPS sent an email saying that tracking number was never associated with my address, and there was never anything delivered to my address from that company, that should indicate fraud. However, Paypal is so hard to be able to actually give your side of the story, they err on the side of the "merchant", and I use that word loosely, when more likely "FRAUDSTER" is the correct word. In a nutshell, DO NOT USE Paypal thinking you have some cushion when it comes to fraud. You most certainly WILL NOT! By the way, this is a scam site: **.

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    Rated with 1 star
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    Verified Reviewer
    Original review: July 19, 2021

    I bought a product from a merchant using PayPal Credit. I cancelled the product after changing my mind. The merch refuse to give my money back. Even though I showed proof no product paypal sided with merch.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 21, 2021

    Three years or more, I shared with everyone how great Paypal easy pay options were available to all. Then it began, charges to my account I did not make, late charges, collections...because I had not used the account I had not idea for months of the charges. Calling them and investigation, it was confirmed and charges removed but the late fees were not. Initially told I should have contacted them sooner! Ok but they were not my charges...so finally 2 months were removed while they could easily see there was a third month out there already charged but did not address. Each time, I asked that the account be closed. Initially, Not until the charges are resolved. I see why another bill with late charges...called again. Asked to cancel...would request removal but can not close until account is clear.

    A year later requested the account be closed, was told they would research and if possible the request to close would be submitted. Guess what. It wasn't...how I find out...I start receiving all kinds of emails of huge charges. #1 the credit attached is expired and intentionally so. #2 I have not accessed the account or have anything associated with my emails and PayPal on any phones, computers so when I call...I ask how do they receive this info if they do not get it from your systems!!! Other than a phone call a year ago, I do not access and do not have any idea how to access the online account. I am tired of emails, text messages of urgent nature that I better get things worked out and now $1000s charged...or requested in my name...when last I knew it was going to be closed. Hopefully the last call today...

    Requesting permanent closure and a credit remains on the account. So they delete the funds...I told her, "You better put it where you can get to it cuz if you contact me for some closure fee or late fee you had addressed until the post closure audit you are deleting your funds..." So I gave no permission to delete. Made sure of that on a recorded line. Now she is going to again request the cancelation after removing all the funds and didn't even ask or suggest to mail them to me. Huh?... 3 years and I can't wait to see what happens next! So after you get the our security canned statements ask how your info is being shared??? Who has access to PayPal systems???

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 8, 2021

    I bought an item from Extreme Terrain and used my PayPal account to pay, my item came in broken so I returned it. Extreme Terrain won't refund my money now even though it was returned & verified by tracking number of the return, because I opened a dispute with PayPal. After I filed the dispute PayPal decided that the seller had proved delivery of the item and PayPal didn't even show me the seller's reply to it & ignored the fact that I returned the item with the return label THE SELLER PROVIDED ME!. Basically, PayPal recharged me for product I do not have. And like others have stated "Customers that were lied to about service and products are not PayPal's concern." Could not have said it better! Very sad & poor customer service.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 28, 2021

    Stay away from PayPal credit. They will keep bumping your credit up until you’re so deep it takes years to pay them off and they don’t ask you if you want an increase. They just give it to you a little at a time. It took me 7 years to pay them off. After I did I cancel the account. Credit score drop 35 points and they added a remark to make it worse. These people are predators and will take it advantage of people whatever they can.

    5 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