What’s happening with PayPal Credit?

[slambam]

Originally Posted by cloakroom

is this not common knowledge? it's essentially a bad credit card with no rewards targeted at people who are credit risks. 22% apr, but the real kicker is when they get someone on multiple of those "zero interest if paid in 6 months" offers and apply all of the payments they make to the last purchase made (which makes zero sense and is blatantly predatory) in hopes of sacking someone with a huge monthly they can't pay and giving them all of the accrued interest from the purchases before that.

I mean, basically everything in today's world is aimed to make the rich richer. The nice thing about PayPal Credit is I can make multiples purchases in a month then just pay them all at once. Much easier than paying automatically with every purchase imo.

[KhalDrogo]

Easy Payments is different than the 6 month/no interest offers. Easy Payments (the 12/24 month terms) has the minimum applied to each outstanding balance, then applies any additional amount you pay to the purchase coming due earliest. The 6 month offers get pushed aside to pay the 12/24 month offers until the 6 month offers come due. Not sure how the 6 month offers work if that’s all you have outstanding.

[coachnip13]

Originally Posted by KhalDrogo

Not sure how the 6 month offers work if that’s all you have outstanding.

On those, it chips away at the oldest purchase first so that you don't get stuck having to pay the full interest rate when the six months are up.