PayPal Credit

PayPal Credit FAQ

How do I apply?

Applying for PayPal Credit is easy. Just click on the PayPal Credit button on our checkout page. A selection of instalment offers will be displayed, enabling you to spread the cost of your purchase across a number of payments.

The application form takes minutes to complete. PayPal will then run a credit check and, if approved, you’ll have a credit limit linked to your PayPal account as soon as you accept your Credit Agreement.

You can use the credit limit granted to pay for today's purchase and future purchases at thousands of online stores where PayPal is accepted, up to your credit limit.

What is PayPal Credit?

PayPal Credit is like a credit card, without the plastic. It’s a credit limit that’s attached to your PayPal account which you can use for your online purchases.

What credit offers are available?

PayPal Credit instalments is available on purchases £99 and over. When you check out with PayPal Credit, you’ll be shown 6 or 12 months instalment offers which enable you to spread the cost of your purchase across 6 or 12 monthly repayments. These instalment offers allow you to choose a set monthly repayment over a fixed period to help spread the cost of larger purchases in a more manageable way.

Instalment offers will always have an interest rate lower than the standard variable rate. If you already have PayPal Credit, you can take advantage of these offers without having to reapply as long as you have enough available credit limit.

It is important that you think about whether you can afford the monthly repayment agreed for any instalment offer. This will be added to your monthly minimum repayment amount and will need to be paid each month.

If you fail to make repayments or in certain other circumstances, PayPal may remove your offer and any outstanding amount will be charged at your standard variable rate. Please see the Credit Agreement for more details.

What is the cost of PayPal Credit outside of instalment offers?

The Representative Example below shows the typical costs of using a PayPal Credit limit, not including instalments or other offers.

Representative Example:
Representative 23.9% APR (variable)
Purchase rate 23.9% p.a. (variable)
Assumed credit limit £1,200

With instalment offers from PayPal Credit you get:

Regular monthly payments – you pay the same amount each month to help you plan better. A credit limit linked with your PayPal account that makes it easier to buy everything you need

Do I need to reapply if I already have PayPal Credit?

If you already have PayPal Credit, you can take advantage of these offers without having to reapply as long as you have enough available credit limit. Just select one of available instalment offers and check out with PayPal Credit.

Do I need to have a PayPal account?

Yes, however if you don’t have a PayPal account, you can create one as part of the PayPal Credit application.

Signing up for a PayPal account is free and easy; all you need to do is provide your email address, create a password and accept PayPal’s User Agreement.

I do not see PayPal Credit instalments as a payment option in my PayPal wallet?

If you have PayPal Credit, you still may not see instalments as an option in your PayPal wallet if the value of your basket is below the threshold amount required for instalments to be available. For more details please see the PayPal Credit Instalment options in the ‘What credit offers are available?’ section above.

What do I do if I am unsuccessful in applying for PayPal Credit?

If you have been declined for PayPal Credit, PayPal will send you more information about why your application was unsuccessful. You can still use PayPal to complete your purchase.

What happens if I want to return the item I bought using my PayPal Credit?

Just return your purchase as normal and the money will be refunded to your PayPal Credit account.