Paying no interest on "interest free as long as you pay within a specific date" promo offers.
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The way that PayPal allocates your PayPal Credit payments means that, for any payments you make to be allocated to "interest free as long as you pay within a specific date" promotional offers, you will first need to do the following:-
1) You need to make the monthly instalment payment that is due for any Promotional Purchase Offer you may have.
2) You need to pay off your Standard Balance which is made up of the standard purchases of goods and services you make using PayPal Credit.
The following is taken from PayPal's CREDIT AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974:-
Allocation of Payments
2.7. If you do not pay the Credit Account balance in full in any month, we will apply your payment to outstanding amounts on your statement in the following order:
- first, to any Promotional Purchase Offer Transaction Payment Amounts due; then to
- the Standard Balance; then to
- any Promotional Balance; then to
- any other balance shown on this statement.
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