Another question about payment

[Spring_creek]

We are thinking about using PayPal Credit to pay for purchases on Home Depot website. Say the amount will be around 6000. We are also aware that we can have 6-month special financing for that.

Now this is where it gets a bit unsure. Do we have to pay 1000 (because 6000 divided by 6 equals 1000) every month as a must? Or we can pay a smaller amount for the first 3 months and then pay in full on the 4th or 5th month? Any penalties or interest charge or whatever fee(s) for any month that we pay less than 1000?

Thanks in advance.

[lancelotme]

We are not Paypal,did you read the terms of agreement before you sign up?

arent you supposed to do your homework before you sign up,but it is still not too late as you have not bought anything,so go read the terms

[lancelotme]

Paypal credit is fickle,just because it approves,does not mean the money is available,

search this forum,some applicants are approved yesterday and find out they cant use it today ,not a penny! 

[Spring_creek]

@lancelotme Isn't this PayPal Community where we can try to get enlighted about the way something works or to obtain more information about what we need to know from anyone who knows? By the way, we were approved about more than a year ago. We also made a lot of purchases using PayPal and PayPal Credit and paid in full on time every time without any short monthly payment. We had no trouble with them but wonderful experience. The reason we are here asking question because we are not sure. And we hope that someone in the community can help clarify that for us.

[lancelotme]

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@Spring_creek wrote:

@lancelotme Isn't this PayPal Community where we can try to get enlighted about the way something works or to obtain more information about what we need to know from anyone who knows? By the way, we were approved about more than a year ago. We also made a lot of purchases using PayPal and PayPal Credit and paid in full on time every time without any short monthly payment. We had no trouble with them but wonderful experience. The reason we are here asking question because we are not sure. And we hope that someone in the community can help clarify that for us.

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do not become too dependent on other advice ,espeically if they are free and they are from indviduals like yourself,we are just Paypal members,not Paypal policy makers.

if you are buying $6k worth of goods,ask Paypal ,it is their policy and they can amend their policy since the last time you sign up and last time you used Paypal credit.

as for enlightenment,medieval monks can help you better !

[Spring_creek]

@lancelotme Thanks! Didn't know that medieval monks can help with clarifying things related to PayPal or PayPal Credit.

@DPCreations Your answer is just what we've been looking for. We were so worry about penalties or any charges or any bad things happening upon short payments for the first few months before we could pay in full. Home Depot does have things that could be paid using PayPal Credit included hardwood floor and tile. Now everything seems to work out the way we hope, we can go ahead renovate our home.

We appreciate your time and your enlightenment to our question.

And thanks everyone for spending your time to read our message.

[DPCreations · Accepted solution]

With PayPal Credit there is no assurance that you will be able to use your full available credit at any time; there is no assurance that any specific merchant will accept PayPal Credit at time of purchase.  PayPal Credit use undisclosed security risk models for each purchase, so you will not know in advance.

At time of purchase, if you attempt to go over your limit AND PayPal sees you as a good risk your will be instantly approved for higher credit.

Now, for payment, if you have the six-month promotion for a single purchase you are under no obligation to pay anyting until the 6th month.  If you fail to pay before the end of the 6th month you will be charged back interest for the 6 months.  If work great; I've used it for such purposes (online purchases), but it isn't always available.