This is something that I just found out and is **bleep** me off, and I want to explain it to everyone who may not know how payments work in PayPal.
In case you don't know already, Promotional Purchases are when you buy something with Paypal Credit and it says "No interest if paid off before a certain date." Easy Payments Installment Purchases (I'll call it EPI from here on) are when the purchases are divided into equal payments over a period of time (6 months/12 months). These Easy Payment Installment Purchases charge you an interest rate up front, so when you are purchasing your item you are paying 9% or more on top (rates can vary).
I made a big purchase as a promotional purchase, and I had been trying to pay that off for the past few months, making large payments in excess of the minimum payment due each month. I just found out that none of those payments were going towards this promotional purchase, and instead have been paying off my various EPI purchases and some of them had up to 24 months of payments left.
Paypal says that unless it's within TWO months of the expiration of your promotional purchase, your extra payments will not go towards them. So if you had purchased, let's say, a product for $2000 then you will have 2 months to pay that off.
This method of payments does not make any sense to me. It's like having a car loan with a fixed rate of interest for 3 years, and then you decide to purchase wheels for your car that you have to pay off in 6 months to not pay any interest, but when you try to make payments for the wheels it instead goes to paying off your car early. Does this make sense to you guys? Especially since PayPal is charging you interest on those EPI purchases to give you time (6, 12, 24 months) to pay that off.
And Paypal will only be able to reallocate the very last payment you made, and you have to call in to have them do it manually.
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