I just checked how Paypal is applying my payments made to Special Financing Promotions. 1. A large ($1200+) balance that is due in December 2020 is nearly paid off. 2. Two smaller ($400) balances due in June 2020 have not had a dime applied to them. If Paypal's payment algorithm is set to pay off later balances before earlier balances, this is a Federal Banking issue and SHOULD lead to a Class Action lawsuit. This process essentially traps customers with having to pay high accrued interest (25%+) on items that should have been marked as paid off months before their "due date". It is a very bad and unscrupulous business practice. I had to call after making a few payments to ask why this happening and the CSR only said "it's just the way Paypal applies your payment". She could not even give me the option to pay off the June 2020 due balances before the December 2020 balance. Well, I'm never using a Promotional Offer or Paypal Credit. Luckily I have the finances to not worry too much about this, but I know other people are probably getting swindled by this unfair practice.
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