Payment Plan purchases are being paid off too agressively

foxpup
Contributor
Contributor

I carry a balance with both regular promotional purchases that are due in 6 months and another purchase that was suppposed to be paid off over a period of 24 months.  The weird thing is that my purchase in June is already more than half paid off and at this rate will be done before next june.  That's all at the expense of paying off charges that are due in January.  This doesn't seem right.  It seems that each month the same measured amount should go to the 24 month payment plan while the rest goes to the most urgent regular promotional purchase.  This could really bite in spite of my careful planning.

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@foxpup wrote:

I carry a balance with both regular promotional purchases that are due in 6 months and another purchase that was suppposed to be paid off over a period of 24 months.  The weird thing is that my purchase in June is already more than half paid off and at this rate will be done before next june.  That's all at the expense of paying off charges that are due in January.  This doesn't seem right.  It seems that each month the same measured amount should go to the 24 month payment plan while the rest goes to the most urgent regular promotional purchase.  This could really bite in spite of my careful planning.


https://www.paypal.com/us/smarthelp/article/how-will-my-paypal-credit-payments-be-applied-faq3376


Kudos & Solved are greatly appreciated. 🙂
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foxpup
Contributor
Contributor

So the Paypal lawyers have concocted a new payment policy.  The 24 month payoff schedule is fiction.  I'm going to need to do some financial finangling to handle this problem.  Payments used to be first in first out (FIFO), now they've just made it selfishly complex.  i don't remember agreeing to these new terms and I was already "in" since I had a balance.  This is not honest even if it is legal and I'm not even sure it's that.

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