Questions about Pay in 4 application

How is my application for Pay in 4 evaluated?
Our decisioning process is automated and we evaluate information such as the information you provided within your application and information about your usage and history with PayPal. We may also use external bureau data to evaluate your application.

Will applying for Pay in 4 impact my credit score?
No. Applying for Pay in 4 will not impact your credit score. A soft credit check may be needed, but it will not affect your credit score.

If your application gets declined, you can still use PayPal to check out securely with other payment methods in your wallet. We will send you a message in the PayPal Message Center explaining why your application wasn’t approved at this time. Our Customer Service team can’t see your decline explanation reason(s) and cannot review loan applications.

Why was my preapproved Pay in 4 application declined?
Preapproval is not a guarantee of approval as disclosed in the application process. For privacy reasons, only you can see why your application was declined. We have sent a letter with the details and reasons your application was declined to your PayPal Message Center.

I see a prequalified amount for Pay in 4, what does that mean?
A Pay in 4 prequalified amount is an estimate of how much you can spend with Pay in 4 on your next purchase. You only pay back what you borrow. Prequalification does not guarantee approval. You must still apply and be approved for Pay in 4 during checkout.

The prequalified amount may change or even go away as it is based on a number of factors, including account status, current loan balance, and repayment history along with many others.

Not all customers will see a prequalified amount.

My prequalified Pay in 4 amount does not match what I want to spend.
The prequalified amount is an estimate. Your individual Pay in 4 application may be approved for a different amount. You do not have to use the entire prequalified amount shown.

Questions about Pay in 4 repayments

How do I make my repayments?
After your down payment, your 3 subsequent repayments will be taken automatically from the confirmed payment method you provided at the time of application. Currently, your PayPal balance can only be used for one-time repayments that you initiate through the PayPal app or the PayPal website. Your PayPal balance cannot be used for autopay repayments.

Where can I see how much I owe?
Just log into your PayPal account, go to your Pay Later section, and click on the specific Pay in 4 plan you want to see. The amount you still owe will be under “Remaining.

Where can I see the amount of my repayments?
Log into your PayPal account, go to your Pay Later section, and click on the specific Pay in 4 plan you want to see. There you can see the amounts of your previous repayments in your Plan Activity. You can also see the amounts of upcoming repayments by clicking “See Upcoming Payments.”

Can I make extra or unscheduled repayments?
Yes. Log into your PayPal account, go to your Pay Later section, choose the Pay in 4 plan you want to pay and click Make a Payment. Then, you can make an unscheduled or extra repayment that will be applied to that Pay in 4 loan.

Important information. If autopay is enabled for your Pay in 4 plan, the one-time repayment has to be received prior to 11:59pm ET the day before your repayment due date in order to stop the auto repayment from processing. Processing a one-time payment after this cut off time, may result in both the one-time repayment and the scheduled auto repayment processing. We are unable to return payments. If this action results in an over payment of your full Pay in 4 plan amount, the overpayment will be refunded to your PP balance account.

Can I pay off the entire Pay in 4 plan at once?
Yes. Log into your PayPal account, go to your Pay Later section, choose the Pay in 4 plan you want to pay off and click Make a Payment. Then you can make an unscheduled repayment to pay off the entire Pay in 4 loan. There are no penalty fees for paying off the balance early.

Can I pause or suspend my Pay in 4 repayments?
No. Once you agree to the terms of your Pay in 4 loan and your repayments begin, you cannot pause, suspend, or skip your repayments.

Why didn't my repayment go through?
There are several reasons we may not have been able to complete your scheduled repayment, including if there were insufficient funds on your debit card, credit card, or bank account used to make your repayment or if your payment method hasn't been confirmed. Click here for more information on how to confirm your payment method.

What if I miss a repayment?
Missing a repayment may cause your account to become Past Due. You may receive an automated phone call, reminding you of your past due balance and informing you of how you can make your repayment.

Missed repayments may impact future eligibility for Pay Later products.

How can I update my payment method for future repayments?
If you want to make future repayments with a different or updated payment method, you can change your payment method by logging into your PayPal account, going to Pay Later section, and selecting the Pay in 4 plan you want to change. There, you can click “Change” under “Payment Method” to update your information or choose a new way to pay. You'll need to confirm your new payment method before you can use it for repayments.

How long does it take for my latest repayment to appear in my Pay in 4 activity?
Your Activity is always up to date on the Pay Later section of your PayPal account, so any repayments you make should appear there immediately.

I have opened a dispute. Do I still need to make repayments?
Yes. You must continue making repayments when due while we investigate your dispute.

Should I still make payments if I’m expecting a refund?
Yes, it’s important to continue making repayments according to your payment schedule even if you are expecting a refund.

Once a merchant processes your refund, we’ll apply the refunded amount to your Pay in 4 loan. If the refunded amount exceeds the outstanding loan balance, the excess money will be applied to your PayPal balance. If the refunded amount does not exceed the outstanding loan balance, you must continue to make your Pay in 4 repayments until the loan is paid in full. We’ll notify you via email when the refund has been processed and applied.

If the merchant issues a refund in the form of a store credit, gift card, or cash, your remaining loan balance will still be due. This is because PayPal paid the merchant on your behalf when you were approved for a Pay in 4 loan. Since the merchant refunded you directly, you’ll still owe any remaining balance on the loan.