PayPal Credit promotion - 6 months with no interest

[gleasone]

I used the PayPal Credit promotion - 6 months with no payment and no interest a few weeks ago to make a purchase.  I just paid the remaining balance on my PayPal credit, so when my payment posts, it will have a balance of $0 owed.

Is the 6 months with no payment and no interest an ongoing promotion?  If I decide to make another purchase using PayPal credit (with my balanced owed at $0) will I get the 6 months with no interest and no payment again, or is it an introductory promotion when you sign up for PayPal credit?

I'm looking to make another purchase, and I would like to use the 6 months, no interest and no payment again.  

Thanks!

[DPCreations]

PayPal evuates each purchase at time of intended payment; if all qualications are met you will be given to offer to use PPC.  The various PPC options will be presented; select the one which suits your needs.

If there are no PPC options, then all qualifications are met.

Just be aware the PayPal will do a secondary review after you click the pay button.  There is the possiblity that PayPal will consider PPC too risky and divert funding to your backup funding source.  So make sure you always have sufficient funds in a backup source such as your bank account.

[gleasone]

So, if PayPal does a secondary review after I click Pay Now, and they find the PPC too risky, then pull funds from a secondary payment source like a bank account, why would I or anyone else use PayPal credit? The majority of people use PayPal credit to make purchases and pay over time. If I have sufficient funds in a bank account for the purchase, I will use that form payment instead of using PayPal credit. It doesn't make a lot of sense to me. Why use a "credit" option when you have sufficient funds in a bank account to make the purchase? I'm going to be hesitant to make purchases using PayPal credit because of this. I may stop using PayPal credit all together. With PayPal doing this, I don't know if I want to take a chance of them pulling funds from my bank account instead of using PayPal credit, and end up with insufficient funds in my bank account to cover other purchases or bill payments. It seems like PayPal would review during the time of purchase - when you click "Pay Now", and either accept or decline the purchase. Then giving the customer the option to pay with a different form of payment or declining the purchase, rather than pulling funds from a different payment source. With this being the case, I'm probably going to quit using PayPal credit. I don't want the possibility of any surprises if I use it.

[DPCreations]

I find PPC quite useful as it is a way for me to better manage my finacial situation.  I can borrow from PPC for 6 months of no interest while I keep my money safely in another account where it can gain interest for 6 months.  When due, I transfer from the interest bearing account to pay the credit account.  It's useful to pay for business inventory when you have a positive cash flow.

It's not for risky borrowing situations.

[Judith123]

I, too, have wondered about that statement that PPC will use another form of payment connected to your account.  I agree with you that it makes no sense (and is, certainly, undesirable) to automatically seek funds from, say, your bank account if the reason your using PPC is the money is not there. 

I have only had one experience when PPC rejected my purchase -- and that was a few months ago.  (I don't even know why; I had the "credit available" and I pay the "Amount to Avoid Interest", every month.  But, the fact remains the purchase was rejected.)

When that happened, a message appeared on the PPC screen saying I was being returned to the merchant's site so that I could select another form of payment.  As I recall, I, then, clicked a "continue" button and I was transferred back to the merchant's site --- where I tried "PPC" again, thinking there just must be a glitch somewhere... and was rejected again.  I gave up, then.  But, a week later, I tried again and it went through.  (I had made no payments, etc., during that week.  So, sometimes, you just need to try them on a different day.  (Mystery!)

I've noticed, too, that when I am transferred to PPC, from some merchants'** sites, I am given the option of using PPC or another form of payment.  The options (accounts/payment methods linked to my PPC account) are lsited.  PPC (option) is already selected (I suppose because it's my "Preferred Payment Method"); I just make sure it is selected, and go on.  [** I say "some" merchants, because I can't remember if it's every merhant.  I only use PPC at a few merchants.]  

🙂

[Judith123]

To answer your original question ("...will I get the 6 months with no interest and no payment again, or is it an introductory promotion when you sign up for PayPal credit?"), I have been using PPC for several years and the option ("no interest, no payments") is always there, provided the purchase is $99 or over.