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Sometime in the last few months they changed my auto payment to stop paying the full balance. Then they let the balance go over the small limit and hit my credit score instead of just taking the payment from my PayPal balance or bank which had more than sufficient funds to cover it. Seems like nothing more than a scam, and I have no idea why they did this other than complete incompetence or an attempt to steal $. Attempts to contact support just get redirected to new phone #'s. Live chat sends me to paypal, then retrying them shows them no-longer available (with the great 24/7 availability message right above). I've had paypal accounts with 10x $ compared to the balance due for years and they've completely failed me. Highly recommend avoiding them and their incompetent scammy PayPal Credit system.
Funds are really tight this year but I wanted to do some Christmas shopping for the loved ones. I applied for PayPal Credit and got approved for a $1500 credit balance. I set PayPal Credit as my default payment method and started shopping. I made purchases on several websites. Some made me log in and choose a payment method and some that I have used before did not. On the ones that made me choose, I chose PayPal Credit. I assumed the websites that did not make me choose would use my default method, which is PayPal Credit. To my suprise I got an email from my bank today claiming insufficient funds. When I checked it my account is negtive $500. Only one purchase actually went through PayPal Credit.
I am POSITIVE I chose the correct option on every transaction, yet it deducted the rest of the purchases from my bank account. I called customer support several times. Every single time, each agent ended up sounding confused and saying "Excuse me sir, I am going to investigate these transactions further. I am placing you on hold please stay on the line." I heard 2-5 seconds of "hold music" and then they hung up. Every single time. I truly feel they know there is a mistake on their part, so they keep hanging up on me instead of correcting it. Something crooked is going on here so I am posting everywhere I can to warn people. This isn't right. I already had very limited funds to begin with... This is just insult to injury at this point.
This is the most worthless credit you could apply for! I was denied with a credit score of 807 because of risk of invalid identity. They never gave me a chance to provide proof of identity, just a denial and now a new inquiry on my credit for nothing. I tried contacting to resolve and they said their decision is final. So don’t waste your time applying, perfect credit and they’ll still deny you.
I have been a Paypal and Paypal Credit customer for years. Since Synchrony Bank took over PayPal credit I no longer feel that they are as honest, straightforward, and customer-oriented as the old PayPal was. Their billing practices feel predatory to me. From my perspective, it seems that the more confusing the billing is the easier it is to charge you high interest. I used to understand what my payments covered now everything appears haphazard. I have no control as to how the payments are applied and come up with very large surprise bills that will accrue interest. When I have called customer service rather than getting customer support I get defensive representatives whose goal appears to be showing you how right they are even if their billing practices are irregular and unpredictable. My love affair with PayPal credit is over, I no longer trust them.
After speaking with multiple customer care personnel over a six month membership period, Pal, its associates has on several occasions reconfigured my purchase balances and is not allocating my monthly payment as I request on six month or 24 month easy payments. The "system"? must have a mind of its own and seems to mysteriously pay off or move 24 month easy payment balances to 6 month purchases that had currently showed paid off and are now suddenly due, now that the end of the six month no interest time period has arrived. Issue sent into escalation mode, again, by Supervisor but advised it does not necessarily mean expedited. I hope the account specialist repair team request will not take one to two billing cycles as I was advised could happen.
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The number of hours that I have wasted over the past year, calling PayPal Credit (Synchrony) to request a payment to be allocated like *I* want, is mind-boggling. The fact that they have to hand it over to some other team, which then takes "1 to 3 billing cycles" to properly allocate the payment is ludicrous. Are we living in the movie "Brazil," with messages in physical steam-punk capsules that are air-pressure transported to some mysterious 13.5th floor only to be archived there for further processing?
We are almost living in 2020, and why I can't just set a checkmark to a promotional purchase amount that I want to pay and then see my payment applied to *that* purchase, is... I don't even know what to say anymore. They should be fined 2.5 Billion for pain and suffering caused! A despicable "business" practice they have adapted to. It wasn't this bad before Synchrony took over and reported us all to the Credit Bureaus, eliminating the one reason why it was still worth putting up with PayPal Credit's quirks.
I don't understand why I would put a $60 charge and be asked to only put a bank account as a form of payment and my minimum amount due was $50. Like what the heck is that. I was so upset I will never charge another thing after this. I have $100 and they're charging me 52 so basically what is the point of credit if you have to pay half of what you charge at all times. That makes no sense. The whole point of credit is pay-what-you-can and unfortunately live outside your means but it gives you a long of time to pay. What you charge PayPal is not a good option. You may as well just pay out of your pocket cuz it's going to burn you in the end with the interest and fees. You've been warned.
It is bad enough that PAYPAL Credit moved our accounts to Synchrony Financial, but now that account is on our credit reports. Now I never agreed to do business with Synchrony Financial to begin with, but I was never informed that this account would be on my credit reports, when the original PAYPAL Credit was not. I have excellent credit but it definitely impacted my credit score. I will be paying the entire amount the end of January, then closing this account. PayPal has gone downhill in that last few years and I for one, am tired of these companies treated us like untenured servants. After PayPal credit is closed I will be taking most of my business elsewhere.
I tried linking my bank to Paypal Credit. My bank does not fulfill this service. But the return and notification of this situation came after my billing statement. I was charged $41 late fee on a $117 account! So I called to get my account number, after being unable to locate it on site. I needed it to set up a bill pay account with my bank. They would not give me my account number unless they could send me a security code on my phone.
I never received it. Sent new code,-- again no text. So I told them to please just tell me my account number. The text does not work. Nope, informed no text no account number. I know security is important, but is not there an alternative security message like an e mail? So they will send me a statement in the mail. I only hope it gets here before my next billing statement. Also, they do not accept bank debit cards. WHAT A RIP OFF!! Way to get extra money by making it SUPER complicated to pay.
Who in this universe would want a credit card with a $300 credit limit; maybe to give it to your 10 year old to avoid them from getting into trouble? Well that is their insane credit limit. Forget them!
PayPal Credit Company Information
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- PayPal Credit (formerly Bill Me Later)
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