PayPal Credit | Your Always-on Credit Line (2024)

FAQs

Is PayPal Credit a line of credit? ›

PayPal Credit is an open end (revolving), reusable line of credit that, if approved, will automatically be added to your PayPal account. With PayPal Credit, you can enjoy the flexibility to pay over time for everyday purchases.

Credit Limit Increases

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 3 months.

First, PayPal will pull a hard credit search to see if you qualify. This will cause your credit score to drop slightly, but if your application is accepted, your credit score will recover within about six months. Once you're approved, PayPal Credit will impact your credit score like any other credit card.

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 line and available credit by clicking PayPal Credit on your Dashboard.

You can pay your bill with any suitable payment method in your Wallet, including a bank account, debit or credit card, your PayPal balance, or PayPal Credit. Once a bill is linked, some billers will display the amount due and due date information.

About PayPal Credit

PayPal Credit is like a credit card, but without the plastic. It's a credit limit that's attached to your PayPal account, which you can use to spread the cost of your online purchases.

What is the highest PayPal Credit limit? PayPal Credit, PayPal's virtual, low-limit, revolving line of credit program, has a starting limit of $250, but it can be theoretically increased over time to $20,000 via limit increase requests.

If you want to improve your credit score, PayPal Credit isn't necessarily the best way to do it. If you need to take out credit, consider other products like a credit card or personal loan that is specifically built to improve your credit.

Is PayPal Credit a digital credit card? PayPal Credit is a reusable credit line that is a digital credit card. It is linked to your digital wallet with PayPal, so you can use it every time you shop with PayPal. At checkout, simply select PayPal Credit as your payment method, and complete your purchase.

How hard is it to get PayPal Credit? ›

You will need a credit score of at least 700 to get it. There is no way to pre-qualify for the PayPal CashBack. A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people's scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months.

Does PayPal check credit? PayPal will conduct a soft credit pull when you apply for PayPal Pay Later. This doesn't affect your credit score, and there is no minimum credit score requirement to use PayPal Pay Later.

When you apply, PayPal Credit completes an initial credit check that does not impact your credit score if declined. An approved PayPal Credit application will result in a hard credit inquiry, which may impact your credit score.

Any remaining balance due after the 4-month promotional period will be charged at 23.9% p.a. (variable). If you fail to make minimum repayments on time or in certain other circ*mstances, PayPal may remove your offer. Please see the Credit Agreement for more details.

Yes. Log into your PayPal account, go to your Pay in 3 section, choose the Pay in 3 plan you want to pay off and click Make a Payment. Then you can make an unscheduled repayment of full balance to pay off the entire Pay in 3 loan. There is no cost for paying off the balance early.

PayPal Credit is credit. The answer is in it's name “PayPal Credit”. PayPal Credit is like a credit card, without the plastic. It's a credit limit that's attached to your PayPal account which you can use for your online purchases.

A credit line, whether with a bank or Paypal is always seen as "CREDIT", and hence forth it's not a negative balance, never has, never will be. It's a credit balance which is always positive. If you have NEGATIVE on your Paypal Credit account, it means, as you've said you have overpaid and Paypal owes you money.

You will need a credit score of at least 700 to get it. There is no way to pre-qualify for the PayPal CashBack. A hard pull usually causes an applicant's credit score to drop by 5-10 points.