Is it correct, that PaypalCredit provides extreme interest rates of up to 50%?
Example:
Anual income using Paypal 120.000.-
Credit witth 30% payment plan: 12.000.-
Time to pay back aroung 4 months. (30% payments)
Charges around 1200.-
Calculation:
4 months is one third of a year. Therefore 3 x 1200.- = 3600.- per year. This would be our interest we would normally pay to our bank.
3600 / 12000.- = 30%
Normal reates going to a bank are 1-6% depending on our financial records.
What is the problem with PayPal? Looks like a toal ripp off. What do you think?
