Questions about Pay in 4 applications
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.
If PayPal needs more information, we may ask you to provide up to 2 years of your bank transaction history in order to make a decision on your request. This will not impact your credit score and will be completed using our service provider, Nova Credit. By sharing your bank transaction history with Nova Credit, PayPal can gain another view of the applicant's financial health to make a decision on the request. Nova Credit is only engaged if PayPal needs more information to make a credit decision, and only after the other applicant consents to sharing the data.
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.
Why was my Pay in 4 application declined?
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.
Our Customer Service team can’t see your decline explanation reason(s) and cannot review loan applications.
If you would like to better understand why you may have been declined and potential ways to increase future eligibility after reviewing your secure message center notification, visit What are some things I can do that impact my Pay Later eligibility?.
I was preapproved, so why was my Pay in 4 application declined?
If you received a preapproved loan offer for Pay in 4, you may still be declined if you no longer meet the criteria used to select you or the offer, give info we can’t match, or for other reasons. 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 an electronic communication with the details and reasons your application was declined to your PayPal Message Center.
What does the spending power amount for Pay in 4 mean?
The Pay in 4 spending power is a total estimate of how much you can spend with Pay in 4 on eligible purchases between $30-$1,500. You only pay back what you borrow. The spending power amount does not guarantee approval and is not a credit line. You must still apply and be approved for Pay in 4 during checkout.
The spending power amount may change or even go away as it is based on a number of factors, including but not limited to account status, repayment history, and other factors.
Not all customers will see Pay in 4 spending power.
My Pay in 4 spending power amount does not match what I want to spend.
The spending power 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 amount shown, and you’ll only pay back what you spend.
I am brand new to PayPal and Pay Later options. What now?
If you are opening a PayPal account and want to apply to Pay Later for your purchase, your PayPal account will be set up during the application process for the Pay Later options. After a soft credit check, which does not impact your credit score, you will be evaluated for multiple Pay Later options and can choose the option that works best for you. Depending on your creditworthiness and your eligibility, you may also be approved for only one of the products or none. If you are declined for one or both of the Pay Later products, you will receive a decline letter for each product. These letters will be sent to you via PayPal’s secure message center.
If you are declined for both, your PayPal account will still be created, so you can choose another way to pay with PayPal. You always have the option to close your PayPal account if you have no outstanding balances owed.
If you would like to better understand why you may have been declined and potential ways to increase future eligibility after reviewing your secure message center notification, visit What are some things I can do that impact my Pay Later eligibility?.