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12, 18, 24, 36 month payments at 0% interest

New Community Member

12, 18, 24, 36 month payments at 0% interest

I am trying to purchase a laptop and the website offers paypal credit financing. On the main page under "Easy Payments" it lists:

- 12 months, $300 minimum, 0.00% interest
- 18 months, $450 minimum, 0.00% interest

- 24 months, $600 minimum, 0.00% interest

- 36 months, $900 minimum, 0.00% interest

 

This has me believing that if I want to spread my payments out over 2 years, I won't pay any interest as long as I pay it off by then and my original purchase is over $600.

And when I go in to "apply for credit" it breaks it down further into these options:

- $126.75/mo. for 12 months, 0% APR
- $84.50/mo. for 18 months, 0% APR
- $63.37/mo. for 24 months, 0% APR
 
- $42.25/mo. for 36 months, 0% APR
- No Interest if paid in full in 6 months
with minimum monthly payments

 

But when I continue further with my application I read "Purchases of $99+: No Interest if paid in full in 6 months on purchases of $99 or more" with "Variable Purchase APR is 25.49%". That's really high. 

I'm also confused about what I'm signing up for. Am I just being duped into what I think is interest free for 2 years only to be charged with full interest after 6 months? Or is that referring to their general lending policy and I'm fine? The way it's laid out and set up is a bit confusing. Anyone else running into this issue?

1 REPLY 1
New Community Member

Re: 12, 18, 24, 36 month payments at 0% interest

I cannot find any information or explanation on internet but here is the thing if PAY PAL put there without any explanation 36 months no interest , they must then provide all customers what it says. This is really confusing . In the mean time, their FQA part is not enough to find clear information, they must pay attention and fix it.