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PayPal Credit is like a credit card without the plastic. And with 0% interest for 4 months on all purchases of £99.00 or more, it’s the perfect way to spread the cost of larger online purchases. This is not available to orders placed over the phone or on quotes provided by Premium Plumbing.

The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transations under £99.00 will be charged interest at 21.9% p.a. (variable).

PayPal Credit is trading name of PayPal (Europe) S.à r.l. et Cie, S.C.A. Société en Commandite par Actions Registered Office: 22-24 Boulevard Royal L-2449, Luxembourg RCS Luxembourg B 118 349

For more information please consult the Paypal Credit website here

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.

If your application is successful, PayPal Credit will be available as a funding source 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 funding source at checkout.

PayPal Credit will provide you with 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 the ‘Make a Payment’ section below.

For purchases less than £99.00, interest is charged at our standard rate of 21.9% p.a. (variable) if the full amount is not paid off by the date shown 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.

How do I apply?

Applying for PayPal Credit is easy. Simply complete our short application form here and if approved and once you accept the Credit Agreement, you’ll have a credit limit linked to your PayPal account almost straight away.

How long does it take to apply for/receive PayPal Credit?

The application form takes minutes to complete. We'll 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.

How much will my credit line be?

To determine the size of your credit line we use the information you provide in the application form along with internal PayPal data and an external credit check.

How does the 0% for 4 months offer work?

0% interest for 4 months is available on single transactions of £99.00 or more. This means when you spend more than £99.00 in one shopping basket, you’ll benefit from the offer and won’t be charged any interest on that transaction for 4 months after purchase. This applies automatically to any purchase made using PayPal Credit in excess of this value, except those to which another promotional offer (such as an instalment offer) applies. You can use this offer as many times as you like as long as you have an available credit limit.

While no interest is charged, any balance subject to a 0% for 4 months offer will be included in the calculation of your minimum repayment amount.

Any remaining balance due after the 4-month promotional period will be charged at 21.9% p.a. (variable). If you fail to make minimum repayments on time or in certain other circumstances, PayPal may remove your offer. Please see the Credit Agreement for more details.

I have a business account, How can I sign up for PayPal Credit?

You can contact PayPal Customer Services to change your business account to a personal account to apply for PayPal Credit. Alternatively, you can create a new personal account to apply.

What if I don’t have a PayPal account?

The first stage of the PayPal Credit application process will ask you to sign into your PayPal account or offer you the opportunity to sign up for one. Once you’ve signed up for a PayPal account, you can begin the application for PayPal Credit.

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 our User Agreement.

Assuming you had the following transactions on your account:
Instalment offer Standard Balance 0% for 4 Month Balance
£600.00 at 0% interest, spread over 6 months £300.00 £100.00
The minimum repayment for each component would be calculated as follows:
£100.00 2% of £300.00 = £6.00 2% of £100.00 = £2.00
Your minimum repayment would be £100.00 + £6.00 + £2.00 = £108.00

Your monthly minimum repayment will be shown in each statement and in the PayPal Credit section of your PayPal account. Any offers you have are also detailed in these locations.

Your minimum repayment amount is calculated based on your purchases, and will include:

  • any instalment offer payments due for that month;
  • the full balance if less than £5.00, or the higher of £5.00 or 2% of the outstanding balance (which excludes any instalment offer balances, but includes any 0% for 4-month offer balances); and
  • any interest, charges, and arrears.

If you fail to make minimum repayments on time or in certain other circumstances, PayPal may remove your offer. Please see your Credit Agreement for more details.

Here’s an example of how your minimum repayment is calculated: