PayPal Credit Is a reusable credit line built into your PayPal Account ,which you can use at most online retailers that accept PayPal.
PayPal Credit isn't a physical card,and you cant use it at brick-and-mortar stores,but this makes it quick and easy to sign up and get approved -you just need to have a PayPal account and fill out an online application for approval.
PayPal is strongly associated with e-commerce and online banking ,as it is one of the best ways to make secure payments on the internet.
And while Visa,MasterCard and American Express are the brands we think of when it comes to the credit cards in your wallet ,as it turns out ,PayPal is in the credit business as well.
There,s a catch :PayPal Credit ,unlike Visa and traditional credit cards,cants be used in brick-and-mortar stores and you wont get a physical piece of plastic either.
But there are many perks that come with PayPal ,especially if you are a frequent online shopper and already use PayPal .Here,s what you need to know.
PayPal Credit has a particularly fast process ,since you don,t even need to wait for a physical card to arrive in the mail.You will just need to fill out an online application and be subject to an instant approval based on your credit history.
You will need a PayPal account to get the card,which will also automatically link to your PayPal Credit appearing as a payment option each time you check out with PayPal.
The flip side of the coin to the convenience of automatically linked PayPal and PayPal Credit is that PayPal has to be an option in order to use PayPal Credit.
Fortunately ,this is increasingly common.You can use PayPal Credit at the many online sites where PayPal is accepted including big name retailers like Walmart ,Target ,Macy and more though Amazon is a notable exception.
PayPal Credit is a reusable Credit line built into your PayPal account.
So if you want to make larger purchase right away but your PayPal account,s balance is too low ,your PayPal Credit Line can spot you the difference and you can even choose to pay it over time .
As long as you pay off purchases of $99 or more within six months you can get an item scotch-free of interest charges as long as you make minimum payments.
One thing that,s unfortunately similar between PayPal Credit and its credit competitors is its sky-high interest rate,at 25.99.