PayPal credit minimum payment due

[encnew]

I made two purchases through PayPal credit. 1 item £1520 1 item £125 Both items I understood to be buy now pay later (4 months interest free) I fully intended to pay off in full after the 4 month interest free period. I have now received an email to say I need to make a monthly minimum payment on the account.!? What is this about ? Can I not just pay the total at the end of the 4 month interest free period ? Thanks in advance for any advice.

[kernowlass]

@encnew 

You don't pay interest for 4 months, doesn't mean you don't pay anything.

[encnew]

Anybody expand/clarify ? Thanks.

[kernowlass]

@encnew 

Well if you don't believe me then...

https://www.lovemoney.com/news/75145/paypal-credit-account-how-it-works-fees-interest-free-loan-four...

you don’t get charged interest.

For purchases above £150, however, this interest-free period shoots up to four months; you just need to make minimum repayments.

[encnew]

I didn't say i didn't believe you !? 

its just that your answer was a little light on information 😉

im not fully understanding with how the  "4 months interest-free" works. 

i was under the impression it was like 4 months buy now pay later whereby you pay the full amount after 4 months. 

so, in reality, i pay an amount  (as long as its minimum payment) every month and pay the balance in full after 4 months?

[kernowlass]

@encnew 

You pay whatever amount you want as long as it is over the minimum amount BUT they don't charge you any interest on the remaining balance until after 4 months.

[encnew]

ok thanks.

[jimos87]

How do i calculate the minimum payment the information given doesnt make sense to me

[PayPal_Olivia]

Hi @jimos87,

Thank you for your question! The minimum payment will be calculated for you when your bill is generated. 

I hope this helps!

Olivia