Questions about Pay in 4 applications (2024)

FAQs

How to be approved for Pay in 4? ›

If your shopping cart is eligible for Pay in 4, you'll see it listed as an available payment option at checkout. You need to apply to use the Pay in 4 service. To be eligible, you must be at least 18 years of age and have a PayPal account in good standing.

Why Was PayPal Pay in 4 Denied? PayPal indicates several reasons that a Pay in 4 application might be declined, including information you provide in your application, credit score, transaction history with PayPal, account age, and your repayment history on loans.

Upon applying, you'll receive a decision within seconds, although not every application will be approved. Availability depends on your state of residence, and you must be at least 18 years of age to apply.

Here are some of the more common reasons you may no longer have access to Chase Pay in 4: You missed a payment on an existing Pay in 4 plan. You have other Chase loans, like credit cards, that are in default.

When applying for PayPal Pay in 4, a soft credit check may be needed, but will not affect your credit score. You must be 18 years old or older when applying for Pay in 4 or Pay Monthly.

Why didn't my repayment go through? There are several reasons we may not have been able to complete your repayment, including if there were insufficient funds on your debit card, credit card, or bank account used to make your repayment or if your payment method hasn't been confirmed.

Not approved for Pay in 4: PayPal performs internal checks to determine eligibility. You might not be approved for various reasons, including insufficient creditworthiness or recent declined payments. Technical issues: There could be temporary technical issues with your PayPal account or the merchant's integration.

At checkout, you might not see the pay in 4 option available for the following scenarios: You are attempting a purchase over your current spending power. See, How do I know how much I can spend with Sezzle? The order is below the minimum order amount at the merchant.

You can have multiple Pay in 4 plans at the same time. According to the PayPal website, as long as you see the option for Pay in 4 at checkout, you can choose a new Pay in 4 plan.

Pay in 4 may not be your best option if you have access to low-interest credit cards or store financing with similar benefits. Your tolerance for risk. There are downsides like late fees, impact on your credit, and lack of buyer protection. You must weigh these risks versus the benefits of interest-free installments.

What is the criteria for PayPal in 4? ›

How can I pay with Pay in 4? Pay in 4 will appear as a payment method for eligible accounts and shopping cart values between $30 and $2,000 AUD when you check out with PayPal. After applying, you'll receive a decision within seconds.

No. Applying for Pay in 4 will not impact your credit score. A soft credit check may be needed, but it will not affect your credit score.

You violated an issuer's internal rule

For example, Chase has a well-known 5/24 rule, which limits the number of credit cards you can be approved for to five within a two-year (24-month) period. If you go above that frequency, your new application will be automatically declined.

“Effective October 10, 2024, you will not be able to use Chase credit cards to pay for third-party Buy Now Pay Later (“BNPL”) installment plans. Payments to these installment plans (e.g., Klarna, AfterPay, etc.) using your Chase credit card will be declined.

If there's suspicious activity or suspected fraud, your issuer may freeze or close your account. This activity can include: Unusual surges in account activity. Large amounts of money withdrawn.

Our decision process is automated and we assess your eligibility for Pay in 4 using a combination of the information you provide in your application and your PayPal account information (for example transaction history).

To enable Buy Now Pay Later (Pay in 4) navigate to your PayPal Checkout settings by going to Tools > Apps & Addons > PayPal Checkout. At the bottom of the settings panel is a setting to enable Pay in 4.

Their approval process is dependent on the following criteria: If there are sufficient funds on the card (at least 25% of the order value is available to spent), the length of time a user has been using Afterpay, the amount needed to repay to Afterpay, and the value of the order you are trying to place.

PayPal has more than 430 million active accounts worldwide. Since these shoppers already have an account with PayPal, the approval process is frictionless. New customers may require a soft credit check for Pay in 4 or Pay Monthly, a process that usually takes only a few seconds.