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DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishonest

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Contributor

DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishonest

I've been using PayPal  for over 15 years so I decided to try giving their credit card  after getting a promotion for six months no interest.

 

I set up auto payments thinking it would automatically pay the account off when  it became due, but it did not. So, I was charged almost $200 in interest fees, and although I paid off the balance when I saw what had happened just one week later, they would still not waive this interest fee. Any other credit card company would have waived this fee, but PayPal is sticking to their dishonest business practice of not notifying you that the auto payment will not pay off  the balance, and they will not waive the interest fee even though you paid the balance off immediately after becoming aware. They also DO NOT CARE how long you have been using PayPal.  

Needless to say, do not sign up for their credit card, even from a promotion. IT IS A SCAM!

10 REPLIES 10
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Frequent Advisor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

but did you get 6 months interest free?

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Contributor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

Yes, but I didn't even need it since I could have paid it immediately. I thought it was a cool promotion to delay a payment, but got sucked into their trap instead.

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Contributor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

Wow, just checked my last statements, they were also charging me a few dollars in monthly interest too! After I set up auto payment to avoid monthly interest charges?!

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Contributor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

Just called support to get clarification. So they said some charges didn't fall under the promotion, so those had to be paid off and auto pay wouldn't cover it so I was charged interest. So shady, no notification was ever given, I only found this out because I looked at my previous statements after getting the last BS interest charge. Never using PayPal credit card ever and will make sure I let everyone know why they should use regular credit cards from the major banks instead. Ridiculous.

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Esteemed Advisor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

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New Community Member

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

Can't agree more. I used a 6-month interest free promotion just for fun and set up auto pay to avoid interest but somehow saw an interest charge in my statement. I'm going to ask them to waive the interest but don't know if it will work.

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New Community Member

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

I have the exact same issue with PayPal. I NEVER use their credit card as I have my own credit card set up online. Somehow, the payment was changed to PayPal 's which was never my intent to do. I have paid the full amount minus the insane interest fee for one month it was over $100. I find this business absolutely dishonest.
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Contributor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

I've been receiving invitation emails for some time to apply for the PayPal MasterCard. As soon as I seen the posted interest rates I was so disgusted I googled "PayPal credit card ripoff" and found this forum. I've been disgusted with PayPal & their exorbitant charges for years now. In fact I quit buying and selling on eBay because of these excessive charges. I possess several credit cards. The highest interest on any of these is 19% The lowest is 8% Not only is PayPal's interest rate plus 22%, but they also calculate the interest differently, resulting in extreme interest charges. PLEASE PLEASE people, do not apply for this card. The whole thing is designed to keep you in debt. Please read the fine print. If you're in need of a starter card go with capital one..or a Walmart master card. You've been warned my people.
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Contributor

Re: DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishon

Yes, I still suggest that everyone who receives the credit card offer - ignore them and avoid like the plague!