PayPal Credit

For New Accounts, the variable Purchase APR is 28.49%. The APR is accurate as of 3/1/2023 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). Minimum Interest charge is $2.00. See terms.

Once approved, purchases of $99+ qualify for the deferred interest No Interest if paid in full in 6 months offer. If you pay the balance on a deferred interest purchase in full within the applicable promotional period, we will not charge any interest for that purchase. If you do not pay the full balance within 6 months, you will be charged accrued interest at the New Account variable Purchase APR that applies to your account from the date of the purchase. Minimum monthly payments are required.

Upon approval, PayPal Credit customers will be assigned a credit line of at least $250 and no more than $12,000, based on creditworthiness. You can confirm your credit line details by logging in to your account.

When you apply, PayPal Credit completes an initial credit check that shows as a hard inquiry on your credit bureau score. Once approved, your PayPal Credit account is added to your PayPal Wallet, so you can make purchases and enjoy special financing without having to apply again.

You will need an account with PayPal to apply for PayPal Credit. Once you've signed up for PayPal, you can begin the application for PayPal Credit. Signing up for PayPal is free.

Yes, you will be charged a late fee for each month the minimum payment is not paid by the payment due date. An explanation of the Late Payment Fee is provided in the current version of the PayPal Credit Terms and Conditions.

The Late Fee is equal to:

$30, if you have paid your minimum payment due by the due date in each of the prior six billing cycles; OR

$41, if you have failed to pay your minimum payment due by the due date in any one or more of the prior six billing cycles.

However, the Late Fee will never be more than the minimum payment that was due.

Payment Security is an optional purchase that can cover your minimum monthly payments or entire PayPal Credit balance up to $10,000 after certain qualifying life events. You may cancel at any time. Whether or not you purchase Payment Security will not affect your credit terms of any existing credit card agreement you have with us. See Payment Security Program Agreement for more details.