PayPal Credit

[festja]

I am looking to use PayPay credit to purchase and Apple Watch via apple.co.uk but I have been refused. I do not have the best credit. So this is probably why. My father has then attempted with his PayPal account and has also been declined. My father has excellent credit. Could you please advise why someone with good credit would get refused for PayPal Credit?

Thanks

[Seykyu]

I was going to purchase a mountainbike and saw that i could do it with paypal credit for 24 months.lo and behold i was denied wish i didnt try it though it was a waste of time and might affect my credit bloody rating .Went on to another bike shop website and got the bike on finance for 30 months zero interest and put down 1,000 pound deposit.wont attempt to use it again for finance

[thomasvez]

Same here.

You guys just suck big time. I think that we have to proceed with legal action against you.

Who are you to mess up with the credit rate of so many people?

Most of  the people here although they have a very good credit rate with Noddle (Call Credit) they are resused by the same credit agency!!!

I wll close my account with PayPal today. 

[Zinedane]

I am so glad it isn't just me then....

I have been using Paypal and ebay for over ten years, have my own IT consultancy business, no debt, credit score of 999 yet refused credit of 399 on Pay Pal... Only wanted to split it over three payments, I was going to buy it outright, but my wife insisted we spread the cost....

I would love to know the algorithmn they are using as its clearly fatally flawed!

Dyson need to review their credit provider. We bought it elsewhere interest free, with no problems.

I believe that our excellent credit score works against us, but my worry is that a refusal may leave a negative mark on our rating.

Can Paypal give us their take on this at all? Or is their silence still deafening...

[Cookie999]

I am furious that I have had credit refused. I have never in my life been refused credit. Like others have said i have a perfect credit ratings with experian and call credit. I got the email refusing credit the second i applied, so not sure carefully considered this could be,so the algorithm used is either flawed or Paypal have another reason for refusing. Samsung you have lost out on a purchase! If this affects my credit rating i will be pursuing.

[JimDig]

Under the UK Data Protection Act a person has the right for automated decisions to be reviewed by a human. The automated process has the facility to conceal hundreds of pounds of disposable income per month which I feel may have an adverse effect. Such a request should be in writing but PayPal makes contact by email incredibly difficult.

[AlibabaUK]

I have applied for PayPal credit and was instantly approved for £1500. To be honest I was not expecting to be approved with my low score and recently declined credit application. I have now paid for my full holiday via PayPal credit. It us important to note you can only make payments up to your credit limit as PayPal will not necessarily debit balance from your bank to make up the transaction. They may do it in the future though but would mean additional admin work that can cost users more in fees. I see a lot of users complaining that they have excellent credit score/rating but still declined. Your score is a reflection of your financial handling and doesn't necessarily mean every company will have to accept applications based on the score. They can refuse anyone without having give much explanation I'm afraid as it is their service but usually they seek credit reference to get an idea before making automated decisions. There are various factors taken into consideration such whether you're on voters roll or not, how you are managing other repayments, if you have any CCJ, Bankruptcy or IVA, if you have any association with same bank products, how you replay credit card accounts, your total income, any savings that may be seen as a security etc. No company is same and have to set their criteria to protect themselves and potential applicants. I had score below average but never failed any payments. With some credit cards I pay off full balance. I was also accepted for a gold charge card with no preset limit but system somehow knows despite having a lot of financial difficulties I settled with all outstanding via help of another company. Strangely my bank refused me a credit card back in Oct 2016 as I needed something as a back up whilst travelling abroad. Anyway although card was refused bank actually offered me a £500 overdraft since my internal score with bank was good as they can see my income and expenditure. Only used overdraft for one day before I got paid..Anyway here I'm travelling again and decided to apply for a charge card. I was instantly approved! A week later I realised that charge card is good in uk but expensive if using abroad so I decided to apply for travel friendly credit with my bank again. This time I was approved for £4500 starting limit! Strange right? Same bank gave me nothing six months ago how can they offer this? Let me explain; While I applied last time I told bank my pay has risen by £5000 which she updated but it does not make any difference until you prove it. Six months down the line I declared my income on all application that obviously matched my bank and they can see I have at least £800 disposable income that they can get a chunk of if they take a little risk despite my previous poor score. They also know I've worked for same company for last 10+yrs and lived at current address for over five years. If you pay close attention you may find answers. Don't keep applying for credit if can do without it but if you have real credit going to your bank you usually wouldn't have much issues as long as you meet all criteria. I have paid for my holiday in Spain via PayPal to get four months interest free credit but I wil be paying back full amount before 4th month. For now I have set up Direct debit payment for minimum payment for peace of mind so I know I don't miss any payments. Looking forward to taking my little girl on holiday as we haven't been away since 2013!

[CheckerCabGuy]

I dont think its about a credit card at all.

I think its another way for Pay-Pal to "verify" users  information. Ive even heard of accounts being frozen after applying for credit, due to "low score"

Some people wont verify with pay-pal.So by dangling the credit carrot out there, it entices some people into entering thier information anyway.

They think there wont be a connection, but there certainly is. If they dont like what they see, they just shut you down,

Pay-pal has so many qurcky rules and polocies in place, the best attitude, is.."if it ain't broke, don't fix it"

AT

[Phantomx0_1]

I dont understand this paypal credit thing at all....... I have a excellent credit score. all my deatils were entered correctly when applying . REFUSED. Only wanted £500 to take advantage of the 4 months 0% offer.

Called customer servce and spoke with a woman who was troughly disintrested in what I had to say. Said it may be because of a typo!! Really. Seems this forum is a wash with people with good credit scores and paypal systems just refuse them. I bet if we had bad credit scores they would be apporved to get people into more debt!!

COME ON PAYPAL SORT IT OUT!

As the chap who posted two posts above me £1500 instantly with his low credit score and bad credit rating. PAYPAL clearly prey on the weak..... 

[JDelia]

My credit rating is good. Never missed a payment for anything, have a mortguage and a credit card, no problems at all. Been with paypal for over 10 years, yet rejected for paypal credit. The email they sent is just "you have been rejected", no reason as to why.

[PayPal_DavidR]

Hi there,

For PayPal Credit queries I recommend reaching out to them directly on 0800 368 7155.

-David R