Giving Paypal Credit a try. So far, so good.

Miscellaneous and Personal Stuff I Must Share
1

I’ve seen Paypal credit offered for awhile and ignored it. I usually prefer paying up front.

They’re running a no interest, no payments for six months promo on certain items. The catch is, all that accumulated interest becomes due immediately after that six months. :smiley:

So, a wise person should only purchase what they can afford to pay off before that date. I bought a guitar and could have paid up front. But why pull money out of savings and lose my interest? I’ll have this paid in 90 days (three payments). Long before their six month deadline.

I don’t see a downside here. Unless I missed something in the fine print. I did check for any annual fees. They said none are charged.

Does this seem like a good deal to you? I’m always very, very cautious about any credit. I don’t keep any balance on credit cards for more than a few months at a time.

I wonder what the risk is for Ebay sellers? Are they screwed if a deadbeat doesn’t pay? Paypal is linked to our banking accounts. They can get their money back if there’s any money to grab. :wink:

2

I’ve had a Paypal credit card for years. It’s the only way I will use PayPal since I won’t let them anywhere near my bank accounts.

It has a high interest rate on the card but I never let any debt sit on it for more than two weeks.

3

I think the downside is that time you forget or choose to not pay it off before the interest comes due.

Balance that risk against the pennies you’re earning on interest keeping that $500 in your checking account.

4

You laugh but this isn’t funny, I have paypal linked to a bank account just for them that carries little balance.

You can find the horror stories from sellers mostly online, paypal decides your romance novels are really porn which they ban? Account closed and a several hundred dollar fine pulled from your bank account linked if your paypal balance wouldn’t cover it.
Or some antique patent medicine bottle they decide is drug paraphernalia, same deal.

5

I always worry using Paypal. I refused to use it for years. Sent money orders for items that I purchased. Gradually more and more Ebay sellers refused payment by mail. I finally had to stop using Ebay or setup Paypal.

Even now, I look very carefully at my total before pressing confirm payment. Making sure an extra couple of zeroes didn’t get added by a careless seller’s typo. :dubious:

It is very scary Paypal can reach directly into my bank account. That’s a big risk. But, using a debit card isn’t that much different. It directly taps into my bank account too.

6

I buy airline tickets thru PayPal Credit, previously Bill Me Later, with 6 mos. to pay. Never have had any problems, except of course I don’t get the miles on my airline card. I consider it a fair trade. Been doing it for years with US Air and Delta. Just pay it off before it’s due.