Big Problems With The Bill Me Later (now PayPal Credit) Payment Options
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Based on the questions I'm seeing, I'm not the only person who is trying and failing to make a monthly payment on the service once known as Bill Me Later.
I've never had so much trouble making a payment (and I'm starting to wonder if this is purposely made to be difficult).
I have a PayPal Credit line. When I received the line of credit, it was a offer during the Christmas season allowing me to take 12 months to pay for items over a specific dollar amount. I have no problem making a payment on this purchase.
In February of 2016, I used $150 of my credit line to purchase inventory for my Ebay shop. This particular purchase gives me 6 months to pay off the $150 balance without interest fees. I can see the purchase in my PayPal credit page, but I can't make a payment.
When I tried to make a combined payment of the first purchase and the second purchase, the combined total amount is applied to the first purchase, so it looks as if I didn't make a payment on the second purchase. Not good considering this account accrues interest. Of course the second item states there is no payment due until the end of the 6 month period. I don't work that way. Once I pay myself or transfer funds to my bank, I apply the remaining balance to my PayPal credit line. I may make three to five payments in one month . . . you pay it off quicker that way.
Anyway, how do I make a payment on the second purchase to ensure the credit is applied to the correct purchase?
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I pay PayPal Credit routinely right from the PayPal Credit payment page. The money is taken from my checking account. I don't make any periodic payments, just a single payment when a transcation is due--real simple.
I never tried to split a payment as it think it will be done correctly. However, when paying before the full balance is due, it may be that the non-due payment goes to pay down the oldest balance; that would make sense for business.
If no payment is due for 6 months, there is no advantage to pay off early; actually, you'd be better investing the money for 6 months for a little interest; my theory is to not give up my money until necessary, as long as I'm not paying interest to borrow it.
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