Billing Statement on Paypal Credit

[ayrancd]

Synchrony Bank (Paypal Credit) was created to charge interest. Statements don't show the correct amount due for every promotional purchase and customers have to do the math every month to avoid interest... they are also splitting the payment in a weird way paying off purchases that are not due yet so you think next month you can pay less but at the end of the day you'll pay interest because they didn't add any $$ to the correct promotional purchase... this is hard to explain but if you have a credit card from Synchrony Bank you know what I am talking about... I don't know why Paypal chose them, it should be illegal, they should shut down that bank. Please consider a better partner like Chase or even the one Apple is using... they show you the correct amount every month, no headache, not tricks. Just like any bank should be, FAIR and CLEAN.

[sharpiemarker]

@ayrancd 

https://www.paypal.com/us/webapps/mpp/ppcterms

Payment Allocation

“We will use each payment in the amount of the minimum payment due or less, first to pay billed monthly plan payments on any Easy Payments purchases, then billed interest, then billed fees, then the principal balance, and then any other amounts due. However, if you have a balance on a deferred interest purchase, during both the billing cycle preceding its expiration date and the billing cycle in which such deferred interest purchase expires, we may use the payment, after the amount to pay billed monthly plan payments on any Easy Payments purchases, to pay the balance on such deferred interest purchase(s).

We will use any amount in excess of the minimum payment due to pay the balances with the highest interest rate, then the next highest interest rate, and so forth. However, during both the billing cycle preceding the expiration date and the billing cycle in which a deferred interest purchase expires, we may use payments first to pay the balance on such deferred interest purchase(s).”

[ayrancd]

@sharpiemarker I don't know what you are trying to say by that... that's exactly what is going on and that's exactly what is messing up the customer statements and making the experience as worse as possible.

It is not okay for you to get a credit card from Synchrony and have to talk to them every month to know the amount to avoid interest or you have to open all of your promotional purchases and do the math. If you are happy with that, good luck.