PayPal is a shady organization regarding their monthly invoice

[valeriejean18]

PayPal doesn't clearly post the amount due to avoid interest charges on amounts due.  They want you to have to pay interest dating back to the original date of purchase.  They send one email and otherwise the info is a mystery!!  I've spent 10 minutes and can't find it posted anywhere.  Aren't there laws against this? For this reason I will no longer make large (over $100) purchases on PayPal Credit.  I will use my credit card for those.  PayPal is a shady company for this reason.  I can't see how they get away with this.

[sharpiemarker · Accepted solution]

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@valeriejean18 wrote:

PayPal doesn't clearly post the amount due to avoid interest charges on amounts due.  They want you to have to pay interest dating back to the original date of purchase.  They send one email and otherwise the info is a mystery!!  I've spent 10 minutes and can't find it posted anywhere.  Aren't there laws against this? For this reason I will no longer make large (over $100) purchases on PayPal Credit.  I will use my credit card for those.  PayPal is a shady company for this reason.  I can't see how they get away with this.

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How do I avoid paying any interest on purchases I make using PayPal Credit’s promotional financing o...

To avoid interest charges on Deferred Interest and Easy Payments + No Interest purchases, pay your promotional balances in full before the expiration date. The easiest way to track this information is to review the “Promotional purchases” section of your online statement. You can also check the current balance in the “Deferred Interest Summary” section of your paper statement. Financed Easy Payments Purchases are subject to interest at the Annual Percentage Rate discolosed at the time of purchase.

How will my PayPal Credit payments be applied?

When you submit a payment to PayPal Credit it will be applied as follows:

Minimum Payments:

1. Monthly plan payments on Easy Payments purchases.
2. Deferred Interest Purchases where the promotional period will end in the next two billing cycles. If you have multiple promotions expiring in the same billing cycle, we'll apply your payment to the oldest promotion first, based on the purchase date.
3. Interest then fees.
4. Balances with a lower than standard Annual Percentage Rate (APR) (e.g. "90 Day Grace" and "Balance Prior To") in order of low to high APR, or in case of multiples with the same APR, in order of low to high balance.
5. Existing standard purchases and cash advance balances in order from lowest to highest APR.

Excess Payments:

1. Deferred Interest Purchases where the promotional period will end in the next two billing cycles
2. Standard purchases in order from highest to lowest APR
3. Monthly plan payments on Easy Payments purchases in order from highest to lowest APR
4. Deferred Interest Purchases expiring more than two billing cycles from the date we receive your payment, in order of their expiration date
5. Standard purchases that have occurred on your account since your last statement date
6. Promotions with a 0% APR until the balance is paid in full in expiring order
7. Amounts in dispute

• If multiple promotional purchases posted on the same day and have the same expiration date, payments are applied to purchases in the order that they appear on the statement (valid for statements printed on or after June 20, 2013).
• Balances from recently expired Deferred Interest promotions are itemized on the statement as separate standard balances for up to 1-2 billing cycles. Payments will follow normal payment hierarchy and expired Deferred Interest promotions are treated as part of the standard balance even when itemized separately on the statement.

[Markx6]

Excess Payments:

1. Deferred Interest Purchases where the promotional period will end in the next two billing cycles
2. Standard purchases in order from highest to lowest APR
3. Monthly plan payments on Easy Payments purchases in order from highest to lowest APR

NOW THAT IS SHADY IMO, all my transactions are Deferred and on easy payment 24 months I just did a few weeks ago.  

So now I have to pay off the easy payments balance which was for bigger buy ASAP to avoid defferred interesest.... 

Sneaky!!!!!!!  Last time I used easy payments unless it's the one with the closer dates....  So I have to pay off my complete balance in the next 4 months... I am sending another payment right now to close the easy payments balance.  NOT COOL....   

It works boths ways depending on the situation but that makes the easy payments option a double edge sword depending on how your charges are managed!  

Well Good thing I will avoid $100 in deferred.  So I end up with less Paypal Balance and it's kill the easy payments now... Which forces me to make big payments now. Even though my payments were always 200 above the min....  Since I use the available as quick payments as well one ebay and will now be limited to be use the deferred again and put a bunch of items into my basket....

[Markx6]

Guess I better use the 12-18 month deffered insterest when available...

Would be great if one could administer the payments on their own..... But at least we got the deferred interest which great!