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Big Problems With The Bill Me Later (now PayPal Credit) Payment Options

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kevin07kelly
Contributor
Posted on

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?  

1 REPLY 1

Big Problems With The Bill Me Later (now PayPal Credit) Payment Options

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DPCreations
Frequent Advisor

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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