Paypal Finance
Spread the cost for up to 48 months with interest free instalment offers.
What is 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.
Representative Example:
Representative
23.9% APR
(variable)
Purchase interest rate
23.9% p.a.
(variable)
Assumed Credit limit
£1,200
| Paypal Credit VS Pay in 3 Comparison | ||
| PayPal Credit | Pay in 3 | |
|---|---|---|
| Applying | Apply just once and use it again and again | Apply every time you use it |
| Interest Rate | 0% interest for 4 months on all purchases £99+.2 Balances after this period or transactions under £99 are charged interest at the standard variable rate | 0% interest on all purchases £30-£20003 |
| Interest Rate | No need for up-front payments. Enjoy our 0% for 4 months offer and repay flexibly, as long as you meet the minimum amount requirement4 | 0% interest on all purchases £30-£2000 |
| Instalments | Monthly instalments from 6-48 months available at selected online stores | No longer term instalments available |
| Spending Limits | No minimum spend and you can spend up to your approved credit limit | Can only be used on purchases £30 - £2000, with elgibility asessed for each purpose |
| Fees | Fees may apply for late payments and returned payments. | No fees3 |
1 PayPal Credit is a revolving credit product and outside of offer periods would be a more expensive way to borrow large amounts over a long period.
2 The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transactions under £99.00 will be charged interest at 23.9% p.a. (variable). In order to maintain the 0% offer, you need to keep up monthly repayments and stay within your credit limit.
3 Subject to status. Terms and Conditions apply. UK residents only. PayPal is a responsible lender. Pay in 3 performance may influence your credit score.
4 Except for offer balances during the offer period, if you do not pay off the whole balance owed every month, you will be charged interest, which could mean it will take you longer, and cost you more, to repay the full balance.
Frequently Asked Questions
What credit offers are available?
For customers with PayPal Credit, up to 48 months is available on single transactions based on the minimum spend* starting from £99.00 or more. This means when you spend more than £99.00 in one shopping basket, you’ll see the available offer terms that you qualify for. Then as you cross each threshold the next term will be made available, with baskets of over £999 getting the 48 months option. This applies automatically to any purchase made using PayPal Credit in excess of these values, 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.
0% for 4 Months offer
All baskets over the £99 minimum spend will qualify for the 0% for 4 months offer. The minimum payment due still applies to 0% offer balances.
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 circumstances, PayPal may remove your offer. Please see the Credit Agreement for more details.
Fixed payments for up to 48 months with PayPal Credit
If your basket is eligible, a selection of instalment offers will be displayed enabling you to spread the cost of your purchase across a number of monthly payments.
With instalment offers from PayPal Credit you get:
Regular monthly payments – you pay the same amount each month to help you plan better
A credit limit linked with your PayPal account that makes it easier to buy everything you need
* Minimum spend for Fixed payment options:
12 Months - £99
24 Months - £199
36 Months - £499
48 Months - £999
How do I apply?
Applying for PayPal Credit is easy. Just click on the PayPal Credit button on our checkout page. A selection of instalment offers will be displayed, enabling you to spread the cost of your purchase across a number of payments.
The application form takes minutes to complete. PayPal will then run a credit check and, if approved, you'll have a credit limit linked to your PayPal account as soon as you accept your Credit Agreement.
You can use the credit limit granted to pay for today's purchase and future purchases at thousands of online stores where PayPal is accepted, up to your credit limit.
Do I need to reapply if I already have 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. Just select one of available instalment offers and check out with PayPal Credit.
Do I need to have a PayPal account?
Yes, however if you don’t have a PayPal account, you can create one as part of the PayPal Credit application.
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 PayPal’s User Agreement.
I do not see PayPal Credit as a payment option?
For PayPal Credit to show as a payment option, you will need to ensure that the items in your basket are eligible for PayPal Credit and that you have a minimum spend of £99 within your basket.
What do I do if I am unsuccessful in applying for PayPal Credit?
If you have been declined for PayPal Credit, PayPal will send you more information about why your application was unsuccessful. You can still use PayPal to complete your purchase.
What happens if I want to return the item I bought using my PayPal Credit?
Just return your purchase as normal and the money will be refunded to your PayPal Credit account.
What is the cost of PayPal Credit outside of instalment offers?
The Representative Example below shows the typical costs of using a PayPal Credit limit, not including instalments or other offers.
Making a complaint
On the rare occasion that we do receive a complaint, we take it very seriously. If you are unhappy with the any aspect of the goods you purchased with us you may contact us in any way you prefer. Our contact details are as follows;
Phone: 01204 474747
Email: [email protected]
Address: Scan Computers International Ltd, 25-28 Enterprise Park, Middlebrook, Horwich, Bolton, BL6 6PE, UK
If your complaint relates to your PayPal Credit agreement
If your complaint relates to the finance linked to your purchase you can still let us know about this, but we will forward it on to your credit provider PayPal. They will then acknowledge your complaint and investigate it thoroughly and issue their response within eight weeks.
What to do if you can't reach an agreement
If you are not satisfied with PayPal’s response to your complaint relating to the finance agreement, you may be able to refer the matter to the Financial Ombudsman Service. You must contact them within six months of the date of PayPal’s final response letter to you.
They can be contacted in the following ways:
Write: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Telephone: 0300 123 9 123
E-mail: [email protected]
Further details can be found on the Financial Ombudsman Service website - www.financial-ombudsman.org.uk
Terms and Conditions
PayPal Credit and PayPal Pay in 3 are trading names of PayPal UK Ltd, Whittaker House, Whittaker Avenue, Richmond-Upon-Thames, Surrey, United Kingdom, TW9 1EH. Terms and conditions apply. Credit subject to status, UK residents only, Scan Computers International Limited acts as a broker and offers finance from a restricted range of finance providers. PayPal Pay in 3 is not regulated by the Financial Conduct Authority. Pay in 3 eligibility is subject to status and approval. 18+. UK residents only. Pay in 3 is a form of credit. Check if affordable and how you will repay. May make other borrowing more difficult or expensive. See product terms for more details.