So I recently signed up for PayPal credit, specifically to buy a 4K TV on eBay for about $1500 and use the PayPal Credit 6 months no interest (for purchases over $99). No problem signing up, and was approved for a PayPal Credit limit of $4500.
But I have been trying for 5 days to use PayPal Credit on eBay. After jumping through many hoops and many phone calls to PayPal, to PayPal Credit and to eBay and some experimenting with different sellers/products on eBay, here is what I found:
1. On eBay, I have no problem using PayPal Credit for a purchase that is less than $99 (yes, the specific limit for the 6 months no interest offer!!). Anything over $99, it greys out the PayPal Credit option or returns a message that PayPal Credit can't be used for this purchase. I even tried something for $109 and could not get PayPal Credit to work.
2. Other PayPal funding sources (credit cards, bank accounts) work without any problem or $ limitation.
3. It is NOT a problem at PayPal Credit, which is a separate division from the main division of PayPal. Everything is OK with a purchase up to $4500 at PayPal Credit (which was formerly Bill Me Later). The problem is at Paypal itself, at the point that I can choose the funding source for an eBay purchase.
4. It is NOT a problem with specific sellers on eBay. The $99 limitation is universal across all sellers-- I have experimented with numerous sellers and cannot fund a purchase of more than $99 with any of them.
5. PayPal solicited me through numerous emails and ads to open up a PayPal Credit line. At no point in time did PayPal advise or notify me that I would be unable to use the PayPal Credit for purchases over $99, which is "coincidentally" the 6 months no interest promotion limit.
I specifically opened up a PayPal Credit line to purchase a TV for $1500. If all my purchases are limited to $99, what is the point of having a $4500 credit line? I would not have wasted 20 hours of my time trying to fix this and taken a "hard" inquiry against my credit score only to have the ability to make purchases of $98.99 or less.
This is absurd and sounds like a class action lawsuit waiting to be filed. Any ideas or referrals to a class action attorney appreciated.
