What is PayPal Credit?
PayPal Credit is a line of credit offered by Comenity Capital Bank that gives you the flexibility to pay for your purchase now, or pay over time. It’s easy to apply and easy to use. To use it with us, just select PayPal Credit during checkout.
How do I apply for PayPal Credit?
When you choose to apply for PayPal Credit, you’ll be asked to provide your date of birth and your Social Security number, and then to agree to the terms and conditions. You’ll know within seconds if you are approved. And here’s the cool thing: your PayPal Credit account will be linked to your PayPal account and you’ll see it as a payment option every time you check out with PayPal.
Is there an annual fee to use PayPal Credit?
Why should I use PayPal Credit for my PayPal purchases?
Get more time to pay when you check out with PayPal and pay with PayPal Credit at most places PayPal is accepted. Plus, score valuable discounts and offers, like special financing on purchases of $99 or more, when you use PayPal Credit. You can also review all of your purchases and pay your bill through PayPal.com.
What if I do not currently have a PayPal account?
As the first step of the application process for PayPal Credit, it will ask you to sign into your PayPal account or give you the ability to sign up for one. Once you’ve signed up for a PayPal account, you can begin the application for PayPal Credit. Signing up for a PayPal account is free.
Do I have a Credit Line and how much will it be?
Yes you do. Here's how it works: after you've been approved, Comenity Capital Bank will open a PayPal Credit account with a Credit Line of at least $250.
You can continue using PayPal Credit to make purchases. If those purchases cause your outstanding balance to exceed your credit line, then you will be evaluated for a credit line increase. This evaluation happens seamlessly during the checkout process. You don't need to do a thing. Best of all, your checkout won't be slowed down. Here's an example of how this works:
• If your first purchase using PayPal Credit is $150, your initial credit line will be at least $250.
• If you make another purchase for $300 before your bill is paid, PayPal Credit will determine during checkout if your credit line can be adjusted to cover the $450 worth of purchases.
• If you then pay $350 toward your first bill, you will have $350 remaining on your credit line. If you want to make another purchase using PayPal Credit for more than $350, PayPal Credit will determine during checkout if your credit line can be adjusted again.
You can always continue to make additional purchases up to your outstanding credit line, and we will consider increasing your credit line when your purchase goes above it.
What is the Annual Percentage Rate (APR)?
The Annual Percentage Rate for standard purchases and cash advances on a PayPal Credit line is 19.99%
, although some special offers have a lower, promotional APR. The Minimum Interest Charge is $2.00
. Of course, you can choose to pay your entire balance by the payment due date to avoid interest charges. Learn more about the interest rate.
What does ‘Subject to Credit Approval’ mean?
PayPal Credit is a credit account that you can use to make purchases and send money. Comenity Capital Bank will review and consider your credit report and other credit related information prior to opening your account and establishing your credit line. Creditworthiness is determined by Comenity Capital Bank. This process happens in a matter of seconds as part of the PayPal Credit checkout process. Once you are a PayPal Credit customer, you can use your credit line to make purchases. If you make a purchase that would cause your outstanding balance to go above your credit line, we will review your credit history and history with PayPal Credit to instantly determine whether to increase your credit line.