Paypal Credit

[enchanteddreams]

Hello,
Every time I check my PayPal credit account the credit seems to be increasing rather than decreasing when I have been paying over $100 every month for the last 4 years. Can anyone please help me? It's the same $3000 it was 4 years ago. I don't understand. At this rate it seems like I will never be able to pay it off because each month it increases more even though I am paying it off.

[ZLRider]

I'm not sure what you bought or if you had deferred interest on purchases but you need to be careful about paying attention to dates of deferred interest dates and how much you have to pay to avoid getting interest charges. If you have missed those and gotten the deferred interest added to your charges, that could easily be why your bill has not changed. Also, at a $3000 balance, realistically $100 a month means you're only treading water on that bill. If you want to get it paid off, you need to be throwing at least several hundred dollars a month at that bill each month. 

[enchanteddreams]

Hello,

Thank you for replying. I have a few special financing purchases, but I can't find how to pay them off specifically. 

[ZLRider]

You'll want to log into your account. At your Dashboard go down and click on the Paypal Credit link to go your Paypal Credit page. On the right, you can see all of your special financing purchases and if you click See All then you can see all of them, when they are due and how much you owe on each one. Then if you go up to Payments and click on Manage Payments, you can see how much you need to pay to avoid standard and deferred interest. Now remember, that only covers the interest, so you'll need to pay more than that to start working on that balance. If you need some ideas for making a little side cash from home without a lot of effort, I do surveys for several different companies and usually make an extra $800-$1000 a year just for giving my opinion. Just an idea, and if you have more questions, let me know and I'll try to help. Good luck!

[enchanteddreams]

Hold on,

The amount needed to avoid standard interest is just a hundred less than the total balance I owe - it's $3,732.04. Are you trying to tell me that's only a little bit of the amount I need to pay?

[ZLRider]

So here is a screenshot of the top of my page. Is this the same area that you are seeing and it's telling you that you basically have to pay it off to avoid
paying interest?

[enchanteddreams]

There is that and there’s also the balance I owe to them in general.

[ZLRider]

Ok so the section where mine says $91.15, yours says slightly less than the entire amount that you owe? If that's the case, it sounds like you're basically paying interest on all of your purchases at this point. Is that what you are seeing?

[enchanteddreams]

Yes that is correct.

[ZLRider]

I hate to  say it but it sounds like we are into more of a money management kind of situation here than anything else. Since I don't really know your financial situation, I'm not sure how much I can tell accept some basic rules I've learned over the years. Do you have other credit cards?