What is PayPal Credit and how does it work?

Updated October 07, 2022 – PayPal Credit is a new product from PayPal that allows customers to borrow money up to $1,000. Customers can borrow the funds for up to 60 days, and they can pay back the money with their PayPal account. PayPal Credit is similar to other payday loans, but it’s easier to get because it’s not required to have an active bank account.

PayPal Credit, formerly named Bill Me Later, is a proprietary payment method offered on the websites of many well-known merchants, including those of Wal-Mart, Home Depot, USPS, and eBay, B&H Photo Video, Best Buy, Overstock.com, JetBlue Airways, Liquidation Channel, Jewelry Television and Hotels.com. 

What is PayPal Credit?

What is PayPal Credit and how it works
PayPal Credit

PayPal Credit is an open end (revolving) credit card account that provides a reusable credit line built into your account with PayPal giving you the flexibility to pay for your purchases right away or pay over time. It’s easy to apply, easy to use and there whenever you need it. PayPal Credit is subject to credit approval and is offered by Synchrony Bank.

How does a PayPal Credit work?

PayPal Credit is an open end (revolving) credit card account that provides a reusable credit line built into your account with PayPal giving you the flexibility to pay for your purchases right away or pay over time. It’s easy to apply, easy to use and there whenever you need it.

Characteristics of PayPal

Here you get all the things related to Pay Pal, but in the app. Some important characteristics are given below:

  • Get the flexibility of managing your PayPal Credit account anytime, anywhere.
  • Millions of online stores.
  • Use PayPal Credit anywhere PayPal is accepted.
  • Digital credit line.
  • PayPal Credit is a reusable, digital credit line with no annual fee.

Benefits of Having PayPal Credit

PayPal Credit helps give you the flexibility to buy what you need when you need it wherever PayPal is accepted.

It’s everything you love about PayPal–and more. Enjoy all the benefits of PayPal and PayPal Credit when you shop with your reusable, digital credit line.

(A.) Purchase Protection

If your purchase doesn’t match the exact description or doesn’t arrive at all, PayPal can refund the full purchase price plus original shipping costs.

(B.)Fast Checkout

With no card numbers or expiration dates, check out anywhere PayPal is accepted in just a few clicks.

(C.) No Annual Fee

The convenience of buying now and paying over time has the added benefit of no annual fee.

NOTE: Kindly you must see terms and limitations on the platform of PayPal and read all documents very carefully before you proceed further in this transaction.

Read ➤ PayPal Credit Card Login

Frequently Asked Questions (FAQs)

What is the difference between PayPal and PayPal Credit?

PayPal is a payment option that draws funds from either your bank account or a credit card. You can also keep a balance in your PayPal account and use it for purchases. PayPal Credit is a revolving credit line that allows you more time to pay off purchases but charges an APR if you carry a balance.

Is PayPal Credit a real credit card?

First thing’s first: PayPal Credit isn’t a credit card. The company does offer lines of credit originated by Comenity Capital Bank that shoppers can use directly from their PayPal accounts when making online purchases. This used to be known as their Bill Me Later service. Today, it’s called PayPal Credit.

What is the Annual Percentage Rate (APR)?

For New Accounts: Variable Purchase APR is 23.99%. The APR is accurate as of 3/1/2022 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). Minimum Interest charge is $2.00.

Is there an annual fee to use PayPal Credit?

No! There is no annual fee to use PayPal Credit.

How much will PayPal Credit give you?

If you’re approved, you can access at least $250 worth of credit, and in some cases you might get a small bonus, such as $10 back. Available anywhere that accepts PayPal, “as well as thousands of other online stores,” PayPal Credit lets you hold off paying for purchases for up to six months without any interest.

What is the Easy Payments promotional financing option offered by PayPal Credit?

Easy Payments is a promotional financing option with select merchants that may be subject to special, promotional repayment terms and/or APRs that allows you to pay for your PayPal Credit purchases in substantially equal monthly payments (subject to credit approval).


You can call PayPal Credit customer service department at 1-844-373-4961 to make a payment or any type of help.
Pay Pal Credit Service Hours are:

Monday – Friday: 8 AM – 11 PM Eastern Time

Saturday – Sunday: 9 AM – 9 PM Eastern Time

You can also mail your payments to:
PayPal Credit;
P.O. Box 960006
Orlando, FL 32896-0006.
NOTE: When mailing a payment, please make sure you include your PayPal Credit account number or payment stub.

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