Sneaky Business Practices

jbomusic520
New Community Member

So I enjoy taking advantage of PayPal Credit's 6 month deferred no interest for purchases over $100. I use this feature often and I ALWAYS pay off the balance before the deadline so that the interest is never applied. In Feb 2021 I made a large purchase from Overstock and opted instead for a 12-month same as cash with 12 equal payments. Meanwhile, I continued to make regular payments on all my previous 6 months deferred purchases on which I still carried a balance. Suddenly today, however, I notice that for the past 3 months ALL of my payments have been going ONLY toward the balance of my large, 12-monthly payment item, so that NOW the balance on that item is far lower than it should be after 3 months, while I'm just about to be charged FULL interest on my 6 month deferred balances! Sneaky, PayPal! Apply all my payments to the wrong item, thinking I won't notice. I have been invoicing through PayPal Business for 6 years now. I have paid thousands each year in transaction fees. You have no idea how good a customer I've been. Well, no more. You just lost a great customer.

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petpromart
Contributor
Contributor

On the main page that shows your balance, you need to click on "More" (upper right corner of the payment section). You then need to look at your balance, specifically where it shows the "minimum amount that must be paid to avoid avoid Standard and Deferred Interest." It's at the bottom of the payment section. It's a little sneaky, because in my opinion, it should show up without having to click on "more." Nevertheless, the info is there. You just need to know where to go and how much to pay to avoid the interest on deferred interest payments. Mine showed up as $1,359.49, but I went ahead and paid down with a payment of $2000, so this should avoid the additional interest.

 
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