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About PayPal Credit and Our Offers
1. What is PayPal Credit?
PayPal Credit is a regulated credit product. It is like a credit card, and gives you a credit limit which can be used for promotional offers or making purchases at your standard variable rate online.
If your application is successful, PayPal Credit will be available as a funding source within your PayPal wallet and can be used for purchases in most places where PayPal is accepted. You can make purchases in the same way as you would with a normal credit card, by choosing PayPal Credit as your funding source at checkout.
PayPal Credit will provide you with a monthly statement showing your transactions and detailing the minimum repayment amount. Repayments can be made by monthly direct debit, directly from your PayPal account or by speaking to our customer service agents. For further information on how you can pay your PayPal Credit balance, see the ‘Make a Payment’ section below.
For purchases less than £99.00, interest is charged at your standard variable rate if the full amount is not paid off by the date shown on your statement.
In addition, PayPal Credit lets you access two types of promotional offers:
0.00% for 4 months on all purchases of £99.00 and over; and
instalment offers with selected merchants.
If you use any of these promotional offers, they will also be detailed on your monthly statement, as well as in the PayPal Credit section of your PayPal account.
If your application is successful, PayPal Credit will be available as a funding source within your PayPal wallet and can be used for purchases in most places where PayPal is accepted. You can make purchases in the same way as you would with a normal credit card, by choosing PayPal Credit as your funding source at checkout.
PayPal Credit will provide you with a monthly statement showing your transactions and detailing the minimum repayment amount. Repayments can be made by monthly direct debit, directly from your PayPal account or by speaking to our customer service agents. For further information on how you can pay your PayPal Credit balance, see the ‘Make a Payment’ section below.
For purchases less than £99.00, interest is charged at your standard variable rate if the full amount is not paid off by the date shown on your statement.
In addition, PayPal Credit lets you access two types of promotional offers:
If you use any of these promotional offers, they will also be detailed on your monthly statement, as well as in the PayPal Credit section of your PayPal account.
2. How are my minimum repayments calculated?
Your monthly minimum repayment will be shown in each statement and in the PayPal Credit section of your PayPal account. Any offers you have are also detailed in these locations.
Your minimum repayment amount is calculated based on your purchases, and will include:
any instalment offers payments due for that month +
2% or 2.5% of the outstanding balance (depending on your credit agreement terms (The outstanding balance excludes any instalment offer balances, but includes any 0% for 4-month offer balances); or the full balance if this is £5 or less +
any interest, charges, and arrears.
Here’s an example of how your minimum repayment is calculated (in this example we haven't shown any interest on the standard balance):
Your minimum repayment amount is calculated based on your purchases, and will include:
Here’s an example of how your minimum repayment is calculated (in this example we haven't shown any interest on the standard balance):
| Assuming you had the following transactions on your account: | ||
|---|---|---|
| Instalment offer | Standard balance | 0.00% for 4 month balance |
| £600.00 at 0.00% interest, spread over 6 months | £300.00 | £100.00 |
| The minimum repayment for each component would be calculated as follows: | ||
| £100.00 | 2.00% of £300.00 = £6.00 | 2.00% of £100.00 = £2.00 |
| Your minimum repayment would be £100.00 + £6.00 + £2.00 = £108.00 | ||
3. How does the 0% for 4 months offer work?
0% interest for 4 months is available on single transactions of £99 or more. This means when you spend more than £99 in one shopping basket, you’ll benefit from the offer and won’t be charged any interest on that transaction for 4 months after purchase. This applies automatically to any purchase made using PayPal Credit in excess of this value, except those to which another promotional offer (such as an instalment offer) applies. You can use this offer as many times as you like as long as you have an available credit limit and your account is in good standing.
During the 4 months’ offer period, the 0.00% balance is included in calculating your monthly repayments. You must make your minimum monthly payment or your 0.00% offer may be removed. Any remaining balance due after the offer period or any transactions under £99.00 will be charged interest at your standard variable rate. Please see the Credit Agreement for more details.
During the 4 months’ offer period, the 0.00% balance is included in calculating your monthly repayments. You must make your minimum monthly payment or your 0.00% offer may be removed. Any remaining balance due after the offer period or any transactions under £99.00 will be charged interest at your standard variable rate. Please see the Credit Agreement for more details.
4. How do instalment offers with PayPal Credit work?
With selected merchants, when you check out with PayPal Credit, you’ll be shown a selection of instalment offers which enable you to spread the cost of your purchase across a number of repayments. These instalment offers vary by merchant and allow you to choose a set monthly repayment over a period from 6 to 48 months to help spread the cost of larger purchases in a more manageable way.
Instalment offers will always have an interest rate lower than the standard variable rate, and many merchants offer 0.00% instalments with PayPal Credit. If you already have PayPal Credit, you can take advantage of these offers without having to reapply as long as you have enough available credit limit.
It is important that you think about whether you can afford the monthly repayment for any instalment offer. This will be included in your monthly minimum repayment amount and will need to be paid each month.
If you fail to make repayments or in certain other circumstances, PayPal may remove your offer and any outstanding amount will be charged at your standard variable rate. Please see the Credit Agreement for more details.
Instalment offers will always have an interest rate lower than the standard variable rate, and many merchants offer 0.00% instalments with PayPal Credit. If you already have PayPal Credit, you can take advantage of these offers without having to reapply as long as you have enough available credit limit.
It is important that you think about whether you can afford the monthly repayment for any instalment offer. This will be included in your monthly minimum repayment amount and will need to be paid each month.
If you fail to make repayments or in certain other circumstances, PayPal may remove your offer and any outstanding amount will be charged at your standard variable rate. Please see the Credit Agreement for more details.
5. How do the different types of offers on my account interact?
PayPal Credit is like a credit card and gives you a credit limit which can be used for promotional offers. You can have multiple promotional offers on your account, up to your agreed credit limit and without needing to reapply. This means you can combine standard purchases with the two types of promotional offer available to help spread the cost and manage your budget.
6. How will my payments be allocated if I pay more than the minimum amount due but don’t pay off my full balance each month?
Assuming you are up to date with your repayments from previous billing periods, we apply your payment first toward the minimum amount due in your statement and then any additional amount left is allocated as follows:
Example:
On your May statement, you have a balance of £750 which comprises the following purchases:
You decide to pay £100, which is more than the minimum payment due but less than the full balance.
From your £100 payment, £32.90 is allocated to the minimum due payment, which leaves £67.10 to be allocated to the above balances as explained here:NOTE: Purchases on a 0% p.a. for 4 month promotion will only be paid down in the event there are no Instalment Plans or standard variable rate balances on your account.
How would your repayment be allocated the following month (on your June statement)?
Assume you have not made any new purchases in the last month, your minimum due payment this month is again £32.90. One of your Promotional Offers (sunglasses) is due to expire this month. This means if you do not repay the full amount outstanding on the sunglasses this month, we will start to charge interest on that outstanding amount from next month.
The balance on the sunglasses is £100.
We tell you when your promotional offer is due to expire, and you decide you want to repay the full £100 balance for the camera to avoid interest being charged.
You make a payment of £132.90 (£100 + £32.90) which is more than the minimum due but less than the full balance.
This means after repaying the minimum due amount of £32.90 we will allocate the remaining £100 in the following way:
- Toward any monthly payment due on an instalment plan. If you have more than one instalment offer plan, our system will repay the plan with the highest interest rate first followed by the plan(s) at a lower interest rate(s); then
- Toward balances that are subject to the standard variable interest rate (interest and fees on your statement are paid off before any principal); then
- Toward any promotional offer balance: this could be your 0% p.a. interest for 4 months on purchases over £99, that is yet to expire or the balance of an instalment plan; then
- Toward any other balances shown on your statement.
Example:
On your May statement, you have a balance of £750 which comprises the following purchases:
- Sunglasses- £100 @ 0% p.a. for 4 months expiring on 30th June (0% for 4 Offer 1)
- Camera- £250 @ 9.9% p.a. for 12 months expiring 30th October (Instalment Plan 1)
- Watch- £400 @ 0% p.a. for 4 months expiring on 30th July (0% for 4 Offer 2)
- £0 balance at standard variable rate
You decide to pay £100, which is more than the minimum payment due but less than the full balance.
From your £100 payment, £32.90 is allocated to the minimum due payment, which leaves £67.10 to be allocated to the above balances as explained here:
- Entire £67.10 allocated to Instalment Plan 1 (the camera at 9.9% p.a.).This is because any amount in excess of the minimum monthly payment due is used to repay that remaining instalment balance. This will NOT reduce monthly instalments due going forward but will shorten the duration of your plan so that it will end sooner.If the balance owed on the camera was £250, we would allocate £22.90 plus £67.10 toward repaying this, resulting in the balance the following month being reduced to £160. You would still be required to make a repayment toward the camera purchase in the following month but the instalment plan would end earlier than 30th October.
- £0 toward your standard variable rate balance as you are not repaying a standard balance for this statement period. A standard balance is made up of standard purchases of goods and services you make using PayPal Credit that are not promotional balances.
A balance of £80 for the purchase of clothes does not qualify for a promotional offer of 0% (less than £99) or an instalment plan so this is a standard variable rate balance. - £0 toward your 0% for 4 Offer 1 (sunglasses)
- £0 toward your 0% for 4 Offer 2 (watch)
How would your repayment be allocated the following month (on your June statement)?
Assume you have not made any new purchases in the last month, your minimum due payment this month is again £32.90. One of your Promotional Offers (sunglasses) is due to expire this month. This means if you do not repay the full amount outstanding on the sunglasses this month, we will start to charge interest on that outstanding amount from next month.
The balance on the sunglasses is £100.
We tell you when your promotional offer is due to expire, and you decide you want to repay the full £100 balance for the camera to avoid interest being charged.
You make a payment of £132.90 (£100 + £32.90) which is more than the minimum due but less than the full balance.
This means after repaying the minimum due amount of £32.90 we will allocate the remaining £100 in the following way:
- Toward your 0% for 4 Offer 1 (the sunglasses) because the interest free period is expiring this month on 30th June which repays this purchase of £100 in full; then
- Any amount remaining after payments towards 0% for 4 Offer 1 (your sunglasses) pays down the remaining Instalment Plan 1 (the camera). This will not reduce monthly instalments due going forward but will shorten the duration of your plan so that it will end sooner; then
- £0 toward your 0% for 4 Offer 2 (watch) unless your camera purchase has been repaid in full (this is because this offer does not expire until 30 July).
7. Can I choose which purchases to pay off first?
No. You cannot select which purchases to pay off first, as our system is designed to automatically apply your repayments to purchases with the highest interest rate first whilst also ensuring that any instalment offer plans are repaid within the term of the plan.
This means if you have any 0% for 4 offer purchases and are also repaying an instalment plan(s), our system will always allocate repayments over the minimum monthly payment to the instalment plan(s) with a higher rate of interest first. The exception is where your 0% p.a. for 4 months offer is going to expire in that month, in which case we will apply your repayment over the minimum monthly payment to that 0% for 4 months offer before the instalment plan.
However, this is to your advantage as it means you pay less interest overall across all of your PayPal purchases.
This means if you have any 0% for 4 offer purchases and are also repaying an instalment plan(s), our system will always allocate repayments over the minimum monthly payment to the instalment plan(s) with a higher rate of interest first. The exception is where your 0% p.a. for 4 months offer is going to expire in that month, in which case we will apply your repayment over the minimum monthly payment to that 0% for 4 months offer before the instalment plan.
However, this is to your advantage as it means you pay less interest overall across all of your PayPal purchases.
8. How can I avoid paying interest on my promotional offers?
To avoid being charged interest on any 0% p.a. for 4 months purchase, you must repay any remaining balance of that purchase in full during the month that the interest free period expires.
If your PayPal Credit account balance is comprised entirely of purchases at a 0% p.a. for 4 month Promotional Offer, your payments will be allocated to those balance based on the date order in which the promotional offers expire.
Information about any active Promotional Offers and Instalment Plans (such as remaining balances and the expiry dates) can be obtained at any time, by logging into your account on PayPal.com or in the PayPal mobile app.
If your PayPal Credit account balance is comprised entirely of purchases at a 0% p.a. for 4 month Promotional Offer, your payments will be allocated to those balance based on the date order in which the promotional offers expire.
Information about any active Promotional Offers and Instalment Plans (such as remaining balances and the expiry dates) can be obtained at any time, by logging into your account on PayPal.com or in the PayPal mobile app.
Getting Started
1. How do I apply?
Applying for PayPal Credit is easy. Simply complete our short application form here and, if approved and once you accept the Credit Agreement, you’ll have a credit limit linked to your PayPal account almost straight away.
Before you apply, please make sure you:
Before you apply, please make sure you:
- Are a UK resident aged 18 years or older
- Have a good credit history
- Have not recently been declared bankrupt
- Are employed and have an income greater than £10,000 per year
2. What if I don’t have a PayPal account?
The first stage of the PayPal Credit application process will ask you to sign into your PayPal account or offer you the opportunity to sign up for one. Once you’ve signed up for a PayPal account, you can begin the application for PayPal Credit, Click here to apply. Signing up for a PayPal account is free and easy; all you need to do is provide your email address, create a password and accept our User Agreement.
3. How long does it take to apply for/receive PayPal Credit?
The application form takes minutes to complete. We'll then run a soft credit check and if approved, you’ll have a credit limit linked to your PayPal account once you’ve accepted your credit agreement. This approval process will only take a few seconds and then you’re ready to go.
4. I have a business account. How can I sign up for PayPal Credit?
You can contact PayPal Customer Services to change your business account to a personal account to apply for PayPal Credit. Alternatively, you can create a new personal account to apply.
5. How much will my credit limit be?
To determine the size of your credit line we use the information you provide in the application form along with internal PayPal data and an external credit check.
Make a Payment
1. How do I make a payment?
The recommended way to keep on top of your PayPal Credit account is to set up a Direct Debit. But if you prefer to make a manual payment, it’s simple to do online, on the app, by phone, by post or by contacting our customer service team.
You can make a single payment from your PayPal balance, bank account or debit card at any time, or schedule future one-off payments from your bank account or debit card. You cannot use a credit card to repay PayPal Credit.
Please click here for an illustrative guide on how to make a manual payment.
You can also make a payment by calling PayPal Customer Service, 0800 368 7155. They’re able to accept payment via any debit card – even those not linked to your PayPal account (as long as it’s a card in your name).
You can make a single payment from your PayPal balance, bank account or debit card at any time, or schedule future one-off payments from your bank account or debit card. You cannot use a credit card to repay PayPal Credit.
Please click here for an illustrative guide on how to make a manual payment.
You can also make a payment by calling PayPal Customer Service, 0800 368 7155. They’re able to accept payment via any debit card – even those not linked to your PayPal account (as long as it’s a card in your name).
2. How do I set up a direct debit?
You can set up monthly Direct Debit payments on our app or online. You need to have a bank account linked to your PayPal wallet account first. Direct Debit authorisation will need to be completed before you can set one up, and this can take a few days.
Please click here for an illustrative guide on how to set up a Direct Debit
Please click here for an illustrative guide on how to set up a Direct Debit
3. When will my Direct Debit start?
There are 3 different options available when you choose to set up Direct Debits. You can choose to pay:
If you choose to pay the minimum amount due or the last statement balance, you will need to set up the Direct Debit at least 4 working days before your due date for the Direct Debit to start on that due date. If you set it up any later than this, the Direct Debit may not start until the next month. We will tell you when you’re setting up the Direct Debit exactly when it will take effect from and if you need to make an interim payment.
If you choose to pay any "other amount", it is important to note that the Direct Debit will not start on your next due date. It is likely to start the following month. Please be sure to make a single payment the month you set it up to avoid missing any payment due. We will tell you when you’re setting up the Direct Debit exactly when it will take effect from.
- the minimum amount due
- the last statement balance
- any "other amount" in between each month.
If you choose to pay the minimum amount due or the last statement balance, you will need to set up the Direct Debit at least 4 working days before your due date for the Direct Debit to start on that due date. If you set it up any later than this, the Direct Debit may not start until the next month. We will tell you when you’re setting up the Direct Debit exactly when it will take effect from and if you need to make an interim payment.
If you choose to pay any "other amount", it is important to note that the Direct Debit will not start on your next due date. It is likely to start the following month. Please be sure to make a single payment the month you set it up to avoid missing any payment due. We will tell you when you’re setting up the Direct Debit exactly when it will take effect from.
4. I just opened up a PayPal Credit account, when is my payment due?
We will automatically send you monthly reminders to notify you of when your payment is due. You can check your estimated due date on the mobile credit hub in your PayPal Credit account. Your due date will also be shown in your next statement email and your statement.
5. Can I setup payment due reminder alerts?
For customers who have set up a Direct Debit, we will automatically send you a monthly email reminder 15 days in advance of your due date. Customers who have not enrolled for Direct Debit will receive an email reminder 5 days in advance of their due date.
Emails are sent to the primary email address on your PayPal account. This is the email that you use when logging in to PayPal account.
Emails are sent to the primary email address on your PayPal account. This is the email that you use when logging in to PayPal account.
6. How long does it take for payments to reflect on my account?
Payments will reflect on your PayPal Credit account the same day you make them, however, will show as pending. It can take up to 5 working days for the funds to leave your bank account and be applied to your PayPal Credit account.
7. Can I use my credit card to make a payment on my PayPal Credit account?
No, you can either make a payment from your bank account, debit card or PayPal balance or set up a Direct Debit.
8. Can I use my credit card to set up a direct debit to make payments on my PayPal Credit account?
No, you can only set up direct debit payments from a bank account linked to your PayPal account.
9. What if I can’t pay?
If you're finding it difficult to make a payment, Please call our PayPal Credit customer service team on 0800 368 7155 and we will do our best to help you. The organisations below should also be able to answer your questions and suggest suitable courses of action:
Citizens Advice:
Citizens Advice:
- England and Wales www.citizensadvice.org.uk
- Northern Ireland (Advice NI) www.adviceni.net
- Scotland (Citizens Advice Scotland) www.cas.org.uk
- PayPal has teamed up with PayPlan, a third-party organisation where you can access confidential friendly guidance and advice on the range of options available to you, completely free. They work with you to help you get back in control of your finances. Call 0800 917 7823 or visit www.payplan.com
- StepChange Debt Charity: call 0800 138 1111 or visit www.stepchange.org
- National Debtline: call 0808 808 4000 or visit www.nationaldebtline.org/
- MoneyHelper: Call 0800 138 7777 or visit https://www.moneyhelper.org.uk/en
- For more guidance on managing your budget, you can also visit our Spend Smarter page https://www.paypal.com/uk/webapps/mpp/spendsmarter/spend-smarter-guide
10. I’ve been using PayPal for a while now. How can I find out when my PayPal Credit payment is due?
Once your statement has generated, your next payment due date will show in your PayPal Credit account. Your due date is also shown in your statement.
Manage your account
1. How do I manage my account?
You can keep track of your PayPal Credit activity and history by logging in to your PayPal account and selecting PayPal Credit. You can also find more information about PayPal Credit, including a video on how to manage your account here.
2. Where can I find my statements?
You can view and/or download statements by reviewing your PayPal Credit details in the PayPal app or by logging into PayPal.com.
3. How can I update my contact details?
You can update your account details by reviewing your PayPal Credit details in the PayPal app or by logging into PayPal.com.
4. How do I close my PayPal Credit account?
Before you close your account, you need to ensure that your balance has been paid off in full.
To close your account, you can call our PayPal Credit customer service team on 0800 368 7155. You can also submit your request via our messaging service ‘PayPal Assistant’. Click here to go to our ‘Contact Us’ page, scroll done and click on the ‘Message Us’ option. You will be promoted to log in to your account and the messaging service will appear once you’re logged in.
To close your account, you can call our PayPal Credit customer service team on 0800 368 7155. You can also submit your request via our messaging service ‘PayPal Assistant’. Click here to go to our ‘Contact Us’ page, scroll done and click on the ‘Message Us’ option. You will be promoted to log in to your account and the messaging service will appear once you’re logged in.
Using PayPal Credit
1. Where can I use PayPal Credit?
PayPal Credit is available to use at thousands of stores online where PayPal is accepted. Transactions can be made in all currencies that PayPal supports, not just GBP.
We also offer instalment offers at select merchants.
We also offer instalment offers at select merchants.
2. How do I select PayPal Credit as my funding source?
- At checkout, choose to pay with PayPal
- Simply change the payment source to PayPal Credit
- Confirm and Pay
3. Will I receive alerts on my mobile phone for transaction made on my account?
If you have the PayPal App, we’ll notify you every time you use PayPal to pay, including PayPal Credit transactions. If you don’t have the App, you can download it here
4. Are there any businesses or types of goods for which I cannot use PayPal Credit?
There are some business categories where PayPal Credit cannot be used as a payment option, so it won’t be offered to you as a payment option during checkout.
Some excluded categories include merchants selling adult content, stored value cards, and gambling.
Some excluded categories include merchants selling adult content, stored value cards, and gambling.
5. Can I transfer money to family and friends or my bank account using my PayPal Credit?
Currently, your PayPal Credit limit cannot be used to send money to friends and family or to deposit funds into your bank account.
6. Can I get cash with my credit account?
Currently, your PayPal Credit limit cannot be used for a cash advance.
7. Can I use my PayPal Credit for “Invoice" or "Money Request”?
PayPal Credit will not be available as a funding source to pay an invoice or money request sent via PayPal.
8. Does PayPal Credit protect me from unauthorised charges?
Yes. You’re not liable for unauthorised purchases made from your PayPal Credit account. PayPal Buyer Protection also applies to purchases funded with PayPal Credit. If this happens, you should immediately report it to us so we can investigate and resolve it for you. You can report an unauthorised transaction through the Resolution Centre of your PayPal account. This is independent of any other statutory rights you may have. The Resolution Centre can be found in the help section.
9. I have upgraded to a business account and now I can no longer see all of my PayPal Credit information/ functions, why is this case?
You can access the PayPal Credit hub through your Business account.
- Log in
- Select “PayPal Credit”
10. Q. 'Why can't I pay with PayPal Credit?'
A. If your purchase is declined by PayPal Credit, you will be redirected to choose another funding instrument.
Here are some common reasons why you may be unable to pay with PayPal Credit, and what you can do:
Please make sure the information entered on the merchant’s website matches your PayPal account details.
Here are some common things to check:
Your PayPal Credit account could be closed.
If you think your account might be closed, you can call our customer service team who can check the status of your account. Please call 0800 368 7155
We are open 8am to 6:30pm every day.
PayPal Credit might not be available for all purchases.
Depending on the circumstances of each purchase, sometimes you could be restricted from using your credit line even if the seller accepts PayPal Credit. Please try to complete your purchase using another available payment method.
Here are some common reasons why you may be unable to pay with PayPal Credit, and what you can do:
- Your purchase attempt might exceed your available credit. You can view your current credit limit and available credit by clicking PayPal Credit
- Your purchase attempt might need further verification.
For your account security, we always check to make sure the information provided during checkout matches your account details. If the information can’t be verified, the purchase will be declined.
If you made a payment toward your PayPal Credit balance to increase your available credit, check your balance to make sure that the payment has been applied to your account.
If you paid with PayPal Credit and the merchant hasn’t processed the transaction, it’ll affect your available credit. If you wish to cancel a pending order like this, please contact the merchant. Once cancelled, it’ll disappear from your account within 30 days. If a cancelled pending order is still on your account and you believe it's causing your later purchase attempt to be declined, you can request us to manually remove it.
Please make sure the information entered on the merchant’s website matches your PayPal account details.
Here are some common things to check:
- Is your name spelled the same? Avoid using nicknames or abbreviations.
- Is the phone number the same one we have on your PayPal account?
- Does the email address you entered match the email address we use to communicate with you?
- Did you enter the correct billing address at checkout? Is your billing address different than your shipping address?
Your PayPal Credit account could be closed.
If you think your account might be closed, you can call our customer service team who can check the status of your account. Please call 0800 368 7155
We are open 8am to 6:30pm every day.
PayPal Credit might not be available for all purchases.
Depending on the circumstances of each purchase, sometimes you could be restricted from using your credit line even if the seller accepts PayPal Credit. Please try to complete your purchase using another available payment method.
Fees
1. Are there any fees I should be aware of?
Late Payments
If you’re late with a payment, PayPal may charge you a late payment fee of £12.00.
Returned Payments
You may be charged a return payment fee of £12 if you have insufficient funds to cover the payment.
Please note that we do not charge more than one £12 fee in a statement period.
Statements (Paper Copy)
We also charge a fee of £5.00 if you request that we send you a printed copy of a previous statement. All statements are available to download or view online within the PayPal Credit section of your PayPal account.
For more information on how these fees apply, please refer to your Credit Agreement.
If you’re late with a payment, PayPal may charge you a late payment fee of £12.00.
Returned Payments
You may be charged a return payment fee of £12 if you have insufficient funds to cover the payment.
Please note that we do not charge more than one £12 fee in a statement period.
Statements (Paper Copy)
We also charge a fee of £5.00 if you request that we send you a printed copy of a previous statement. All statements are available to download or view online within the PayPal Credit section of your PayPal account.
For more information on how these fees apply, please refer to your Credit Agreement.
2. Is there an annual fee?
No. There is no annual fee for a PayPal Credit account.
Persistent debt
1. What is persistent debt?
Persistent debt is defined as any customer who pays more in interest, fees and charges than they repay of the amount they borrowed (known as “principal”) in a rolling 18-month period (with a balance greater than £200 GBP during that time). We will notify you if you consistently fall into this category at 18, 27, and 36 months.
2. I’ve received a letter stating I’ve paid more in interest, fees and charges than principal over the last 18 months. What does this mean?
As a responsible lender, PayPal monitors the repayments of our customers. We look for signs of potential difficulty and try to recognise where improvements can be made. In this instance we’ve identified that if you increased your repayments you would repay your debt more quickly and reduce your interest costs.
3. How can I increase my payments?
PayPal Credit offers a few different ways for you to make payments.
You might consider setting up a Direct Debit, which is an easy way to pay the amount you choose automatically rather than having to make them manually yourself each month. To set up a Direct Debit or change your existing Direct Debit, log in to your PayPal account.
Alternatively, you can make or schedule an additional payment in your account by following the link above and clicking the “Make a Payment” button. You can also make a payment by calling 0800 368 7155.
You might consider setting up a Direct Debit, which is an easy way to pay the amount you choose automatically rather than having to make them manually yourself each month. To set up a Direct Debit or change your existing Direct Debit, log in to your PayPal account.
Alternatively, you can make or schedule an additional payment in your account by following the link above and clicking the “Make a Payment” button. You can also make a payment by calling 0800 368 7155.
4. What do I do if I can’t afford to increase my minimum payment?
If you don’t think you’ll be able to increase your payments because of other financial commitments, you can call us on 0800 368 7155. We’d like to help talk you through the options that may be available to you. We’re open 8.00am to 6.30pm Monday to Sunday.
5. Where else can I go for financial help and support?
We aim to support customers facing financial challenges. If you anticipate payment issues or have financial concerns, please visit our Help Centre or contact us so we can speak to you and offer help.
Don't delay addressing payment concerns. PayPal has teamed up with PayPlan, a third-party organisation where you can access confidential friendly guidance and advice on the range of options available to you, completely free. They work with you to help you get back in control of your finances.
Alternatively, you can find free, independent support with money matters through the following debt management companies:
Don't delay addressing payment concerns. PayPal has teamed up with PayPlan, a third-party organisation where you can access confidential friendly guidance and advice on the range of options available to you, completely free. They work with you to help you get back in control of your finances.
Alternatively, you can find free, independent support with money matters through the following debt management companies:
- The UK Government’s MoneyHelper service : Call 0800 138 7777 or visit https://www.moneyhelper.org.uk/en
- StepChange Debt Charity: www.stepchange.org/
National Debtline: www.nationaldebtline.org/ - Money Advise Service: www.moneyadviceservice.org.uk/en. Or www.moneyadvicescotland.org.uk if you live in Scotland
- AdviceUK: www.adviceuk.org.uk/
Citizens Advice: www.citizensadvice.org.uk/ - For more guidance on managing your budget, you can also visit our Spend Smarter page https://www.paypal.com/uk/webapps/mpp/spendsmarter/spend-smarter-guide
Cross Currency
1. Which currencies does PayPal Credit support?
PayPal Credit can be used to purchase items in all currencies PayPal supports. PayPal will convert all transactions into UK Pound Sterling in advance of applying them to the Credit Account. Transactions will be displayed in your local currency when they show on your PayPal Credit statement.
2. What exchange rate is charged?
If a currency conversion is needed for your payment, it will be completed at the transaction exchange rate we set for the relevant currency exchange. When you select PayPal Credit as your payment method you will see the exchange rate displayed at checkout. For further information on how we convert currency, see the user agreement.
3. Can I still get the 0% for 4 months offer and instalment offers with transactions in non-GBP currencies?
If you qualify for a promotional offer, either our instalment offers or our 0% for 4 months offer, this will be applied regardless of which currency you transact in.
(Occasionally, exchange rates may fluctuate and impact whether a non-GBP transaction qualifies for a promotional offer. If you believe you should have qualified for a promotion – please call our Customer Services.)
(Occasionally, exchange rates may fluctuate and impact whether a non-GBP transaction qualifies for a promotional offer. If you believe you should have qualified for a promotion – please call our Customer Services.)
4. Am I still protected by Buyer Protection if I make a purchase in non-GBP currencies?
Yes. If an eligible item that you’ve bought online doesn’t arrive or is significantly not as described in the seller’s description, you can make a claim under PayPal Buyer Protection. Buyer Protection covers all your eligible PayPal purchases including those paid with PayPal Credit.
5. What happens if my purchased item is returned?
You can return the goods to receive the refund, if eligible, direct to your PayPal Credit account. The refund will be displayed in the amount you paid in GBP.
6. How will the transaction be displayed at checkout?
At checkout, you will be shown the transaction value in the original currency that appears on the merchant’s website as well as the converted transaction value in GBP.
7. How will a non-GBP transaction appear on my statement?
Your PayPal Credit statement will show the transaction in GBP only. No exchange rate information will be shown. You can however view the exchange rate information in your customer dashboard online as well as viewing your activity on your PayPal account statement.
Credit Limit Increases
1. How do I increase my credit limit?
We review your credit limit monthly and may invite you to increase your limit once you’ve been a PayPal Credit customer for at least 6 months. You can always request a credit limit decrease or opt out of receiving offers to increase your credit limit.
2. Can I apply for a credit limit increase?
No. Unfortunately, you cannot request a credit limit increase. Credit limit increases will be offered to you when you become eligible.
3. What are the eligibility criteria for a credit limit increase?
To be eligible for a credit limit increase you must:
- Have been a PayPal Credit customer for at least 6 months
- Have not been in arrears in the last 6 months
- Have transacted with PayPal Credit in the last 6 months.
4. How do I change my credit limit preferences?
Log in to your PayPal account and follow the ‘manage preferences’ prompts. You can also find the ‘Manage preferences’ link in the PayPal Credit tile on your Summary page, as shown below:
5. If I change my preferences when I have a pending credit limit increase offer, will it apply to the pending offer?
No, your new preferences will apply to all future offers only.
6. What options are available to me for credit limit increases?
There are 2 options for credit limit increases:
- Manually accept or decline each credit limit increase. This means that when an offer becomes available to you, you will need to log in to your account and accept or decline the offer yourself.
- Turn off credit limit increases. This means you will not be offered a credit limit increase even when you become eligible.
7. Can I increase my credit limit increase before the offer expires?
Yes, when you are offered a credit limit increase you can choose to apply it to your account straight away or at any time before the offer expires.
8. My credit limit increase offer has expired. Can I still get it?
No, once an offer has expired you’ll need to wait until your next offer. We review your credit limit monthly and will continue to offer you a credit limit increase as long as you meet our criteria.
9. Can I change my preferences to automatically accept credit limit increases so I don’t need to do anything manually?
No, you will need to review each credit limit increase offer you receive and choose to accept or decline each offer. We will only apply the credit limit increase if you have manually accepted it.
Credit Limit Decreases
1. Can I keep my existing limit and opt out of the credit limit decrease?
As responsible lenders we constantly monitor exposure and utilisation of customers’ limits. When we reassess your limit and decide to reduce your limit to a more appropriate level, there is not an option to keep your existing limit. PayPal has the right to reduce your limit at any stage as referenced in section 1.6 of your PayPal Credit agreement.
2. Can I choose a different credit limit to the one I received?
Unfortunately we are unable to change the limit reduction amount.
3. Can I choose a different date the credit limit decrease occurs?
No, unfortunately not, your limit decrease will take effect on the date specified in your email communication.
4. Is a credit check completed as part of my credit limit decrease?
No. As a responsible lender we regularly get updates from credit reference agencies on your account. These updates along with a change in limit do not appear on your credit file.
5. Will this credit limit decrease affect my credit score?
A decrease may or may not affect your credit score. To find out more, please reach out to the credit reference agencies directly.
The identities of the CRAs, and the ways in which they use and share personal information, are explained in more detail at:
www.transunion.co.uk/crain
www.equifax.co.uk/crain
www.experian.co.uk/crain
The identities of the CRAs, and the ways in which they use and share personal information, are explained in more detail at:
www.transunion.co.uk/crain
www.equifax.co.uk/crain
www.experian.co.uk/crain
6. Can I request a credit limit decrease ? - New Question
Yes, you can call our team and request a credit limit decrease on 0800 368 7155. We can reduce your limit up until your outstanding balance.
Other FAQs
1. I have been declined for PayPal Credit. Why?
We’ll email you with more information about why your application for PayPal Credit was unsuccessful. If you apply during check out and get declined for PayPal Credit, you can still use PayPal to check out securely with your debit or credit card.
If you want to re-apply, you will be able to 35 days after your last application.
If you want to re-apply, you will be able to 35 days after your last application.
2. What is a Representative APR and what is the Representative APR for PayPal?
A Representative APR (Annual Percentage Rate) is an advertised rate shown on products where you borrow money so that an easier and fairer comparison can be made. It’s the typical total cost of a credit product expressed as a percentage, spread over 12 months. The Representative Annual Percentage Rate for a PayPal Credit account is 23.9% (variable). If you receive this rate, this is also the standard rate of interest that will apply to your purchases.
The Representative APR is the rate that at least 51% of those accepted for PayPal Credit will get. That means almost half of those customers who are approved may not receive the advertised Representative APR and will receive a different rate.
If you are approved for PayPal Credit, the rate we give you will depend on your individual circumstances. Your standard rate of interest is set out in your Credit Agreement.
Sometimes your purchase will benefit from a promotional offer with a lower rate of interest. Your standard rate of interest will not apply to transactions charged at a lower interest rate during the promotional offer period. See your Credit Agreement for more details.
We may increase your standard interest rate by giving you at least 30 days’ notice. For more information on when we would do this please see your Credit Agreement.
The Representative APR is the rate that at least 51% of those accepted for PayPal Credit will get. That means almost half of those customers who are approved may not receive the advertised Representative APR and will receive a different rate.
If you are approved for PayPal Credit, the rate we give you will depend on your individual circumstances. Your standard rate of interest is set out in your Credit Agreement.
Sometimes your purchase will benefit from a promotional offer with a lower rate of interest. Your standard rate of interest will not apply to transactions charged at a lower interest rate during the promotional offer period. See your Credit Agreement for more details.
We may increase your standard interest rate by giving you at least 30 days’ notice. For more information on when we would do this please see your Credit Agreement.
3. What does subject to approval mean?
We are required to carry out creditworthiness and affordability checks to determine if PayPal Credit is right for you. As part of this process, we review information held on you by credit reference agencies and other relevant information prior to approving you for PayPal Credit.
4. Is there a cooling off period if I want to close my PayPal Credit account?
You may withdraw from your PayPal Credit account by calling us on 0800 368 7155 within 14 days of entering into the Credit Agreement or you can contact us via our secure message centre. Click here to go to our ‘Contact Us’ page, scroll done and click on the ‘Message Us’ option. You may close your PayPal Credit account at any time, but must repay any outstanding balance.
5. I accidently used PayPal Credit for a purchase how can I clear my purchase.
The first option is to contact the merchant and see if they can cancel the order. If it’s too late for the merchant to do so, then you can return the goods to receive the refund direct to your PayPal Credit account.
6. Does PayPal Buyer Protection apply to my PayPal Credit purchases?
Yes. If an eligible item that you’ve bought online doesn’t arrive or doesn’t match the seller’s description, PayPal Buyer Protection will reimburse you. Buyer Protection covers all your PayPal purchases including those paid with PayPal Credit.
For full information on eligibility, see our User Agreement.
For full information on eligibility, see our User Agreement.
7. How can I use PayPal Credit on Curve?
PayPal will act as any of your payment cards which you add to your Curve wallet - just sign into your PayPal account via the Curve app and you're ready to start.
To get set up, you'll first need a bank account, an eligible payment card or PayPal Credit – attached to your PayPal wallet (AMEX and VISA cards are not eligible). Then you'll be able to switch between paying with your PayPal balance, bank or any of these funding sources at any time from the level of the PayPal app. You can find the steps to add your account here.
You'll also be able to pay using both the physical Curve card and your smartphone's digital wallet (e.g. Apple Pay, Google Pay and Samsung Pay).
To get set up, you'll first need a bank account, an eligible payment card or PayPal Credit – attached to your PayPal wallet (AMEX and VISA cards are not eligible). Then you'll be able to switch between paying with your PayPal balance, bank or any of these funding sources at any time from the level of the PayPal app. You can find the steps to add your account here.
You'll also be able to pay using both the physical Curve card and your smartphone's digital wallet (e.g. Apple Pay, Google Pay and Samsung Pay).
8. Can I set PayPal Credit as preferred within the Curve app when linking PayPal to Curve?
Yes, you can set PayPal Credit as preferred, it will then be the main funding source for Curve transactions.
9. Can I use my Curve card to repay PayPal Credit?
No, you cannot repay PayPal Credit with Curve.
10. Do I get Section 75 Protection on PayPal Credit transactions through Curve?
No – the transaction is through your Curve debit card so you are not covered under Section 75 of the Consumer Credit Act.
Contact Us
1. How can I contact you if I have any further questions?
For more information, you can call PayPal Customer Service on 0800 368 7155.
Hours of service:
Monday to Sunday 8am to 6.30pm (GMT)
If you’re calling from outside the UK, call 0044 800 368 7155
You can write to us at PayPal UK Ltd, c/o PayPal Credit Customer Services, PO Box 5298, Unit 1-2, Chartwell Business Centre, Worthing, BN11 9UF, UK
Alternatively, if you’re an existing customer you can use our secure message centre for all account related enquiries by logging into your PayPal Account.
Hours of service:
Monday to Sunday 8am to 6.30pm (GMT)
If you’re calling from outside the UK, call 0044 800 368 7155
You can write to us at PayPal UK Ltd, c/o PayPal Credit Customer Services, PO Box 5298, Unit 1-2, Chartwell Business Centre, Worthing, BN11 9UF, UK
Alternatively, if you’re an existing customer you can use our secure message centre for all account related enquiries by logging into your PayPal Account.
Representative Example:
Representative
23.90% APR (variable)
Purchase interest rate
23.90% p.a. (variable)
Assumed Credit limit
£1,200.00
Your actual interest rate and credit limit may vary depending on your individual circumstances.
Subject to status. Terms and conditions apply. UK residents only.
Apply for PayPal Credit now
Apply Now*Credit subject to status. Terms and conditions apply. UK residents only. PayPal Credit is trading name of PayPal UK Ltd.