What is PayPal Credit and where can I use it?
PayPal Credit is like a credit card without the plastic. It’s a credit limit attached to your PayPal account, which you can use for your online purchases.
If your application is successful, PayPal Credit will be available as a payment method within your PayPal wallet and can be used for purchases in most places where PayPal is accepted. You can make purchases in the same way as you would with a normal credit card by choosing PayPal Credit as your payment method at checkout.
PayPal Credit will provide a monthly statement showing your transactions and detailing the minimum repayment amount. Repayments can be made by monthly direct debit, directly from your PayPal account or by speaking to our customer service agents. For further information on how you can pay your PayPal Credit balance, see How do I make payments on my PayPal Credit account?
For purchases less than £99.00, interest is charged at your standard variable rate if the full amount is not paid off by the date on your statement. In addition, PayPal Credit lets you access two types of promotional offers:
- 0% for 4 months on all purchases of £99.00 and over, and
- instalment offers with selected merchants.
If you use any of these promotional offers, they will also be detailed on your monthly statement, as well as in the PayPal Credit section of your PayPal account.
PayPal Credit is available to use at thousands of stores online where PayPal is accepted. Transactions can be made in all currencies that PayPal supports, not just GBP.
For more information about PayPal Credit, or for information on how to make a payment or how to manage your account, please visit: https://www.paypal.com/uk/webapps/mpp/paypal-virtual-credit/existing.
For guidance on managing your budget visit our Spend Smarter pages.
How do I apply for PayPal Credit?
Applying for PayPal Credit is easy. Complete our short application form here. If approved, and once you accept the Credit Agreement, you’ll have a credit limit linked to your PayPal account almost straight away.
Before you apply, please make sure you:
- Are a UK resident aged 18 years or older
- Have a good credit history
- Have not recently been declared bankrupt