Paypal Finance

Spread the cost for up to 48 months with instalment offers.

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.

Representative Example:

Representative

21.9% APR

(variable)

Purchase interest rate

21.9% p.a.

(variable)

Assumed Credit limit

£1,200

 

Subject to status. T&Cs apply. UK residents only. PayPal Credit and PayPal Pay in 3 are trading names of PayPal (Europe) S.à r.l. et Cie, S.C.A. 22-24 Boulevard Royal L-2449, Luxembourg. PayPal Credit: Terms and conditions apply. Credit subject to status, UK residents only, Scan Computers International Ltd acts as a broker and offers finance from a restricted range of finance providers. PayPal Pay in 3: PayPal Pay in 3 is not regulated by the Financial Conduct Authority. Pay in 3 eligibility is subject to status and approval. UK residents only. Pay in 3 is a form of credit, may not be suitable for everyone and use may affect your credit score. See product terms for more details.

Paypal Credit VS Pay in 3 Comparison
  PayPal Credit Pay in 3
Applying Apply just once and use it again and again Apply every time you use it
Interest Rate 0% interest for 4 months on all purchases £99+.2 Balances after this period or transactions under £99 are charged interest at the standard variable rate 0% interest on all purchases £30-£20003
Interest Rate No need for up-front payments. Enjot our 0% for 4 months offer and repay flexibly, as long as you meet the minimum amount requirement4 0% interest on all purchases £30-£2000
Instalments Monthly instalments from 6-48 months available at selected online stores No longer term instalments available
Spending Limits No minimum spend and you can spend up to your approved credit limit Can only be used on purchases £30 - £2000, with elgibility asessed for each purpose
Fees Fees may apply for late payments and returned payments. No fees3

1 PayPal Credit is a revolving credit product and outside of offer periods would be a more expensive way to borrow large amounts over a long period.

2 The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transactions under £99.00 will be charged interest at 21.9% p.a. (variable). In order to maintain the 0% offer, you need to keep up monthly repayments and stay within your credit limit.

3 Subject to status. Terms and Conditions apply. UK residents only. PayPal is a responsible lender. Pay in 3 performance may influence your credit score.

4 Except for offer balances during the offer period, if you do not pay off the whole balance owed every month, you will be charged interest, which could mean it will take you longer, and cost you more, to repay the full balance.

Frequently Asked Questions

What credit offers are available?

0% for 4 months offer

0For customers with PayPal Credit, 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.

Fixed payments for up to 48 months with PayPal Credit

If your basket is eligible, a selection of instalment offers will be displayed enabling you to spread the cost of your purchase across a number of monthly payments.

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

* Minimum spend for Fixed payment options:

12 Months - £99
24 Months - £199
36 Months - £499
48 Months - £999

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.

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 as a payment option?

For PayPal Credit to show as a payment option, you will need to ensure that the items in your basket are eligible for PayPal Credit and that you have a minimum spend of £99 within your basket.

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.

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.

Making a complaint

On the rare occasion that we do receive a complaint, we take it very seriously. If you are unhappy with the any aspect of the goods you purchased with us you may contact us in any way you prefer. Our contact details are as follows;
Phone: 01204 474747
Email: [email protected]
Address: Scan Computers International Ltd, 25-28 Enterprise Park, Middlebrook, Horwich, Bolton, BL6 6PE, UK

If your complaint relates to your PayPal Credit agreement
If your complaint relates to the finance linked to your purchase you can still let us know about this, but we will forward it on to your credit provider PayPal. They will then acknowledge your complaint and investigate it thoroughly and issue their response within eight weeks.

What to do if you can't reach an agreement
If you are not satisfied with PayPal’s response to your complaint relating to the finance agreement, you may be able to refer the matter to the Financial Ombudsman Service. You must contact them within six months of the date of PayPal’s final response letter to you.

They can be contacted in the following ways:
Write: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Telephone: 0300 123 9 123
E-mail: [email protected]

Further details can be found on the Financial Ombudsman Service website - www.financial-ombudsman.org.uk

Terms and Conditions

PayPal Credit and PayPal Pay in 3 are trading names of PayPal (Europe) S.à r.l. et Cie, S.C.A. 22-24 Boulevard Royal L-2449, Luxembourg. PayPal Credit: Terms and conditions apply. Credit subject to status, UK residents only, Scan Computers International Ltd acts as a broker and offers finance from a restricted range of finance providers. PayPal Pay in 3: PayPal Pay in 3 is not regulated by the Financial Conduct Authority. Pay in 3 eligibility is subject to status and approval. UK residents only. Pay in 3 is a form of credit, may not be suitable for everyone and use may affect your credit score. See product terms for more details.

Buy now and pay later with Pay in 3

Choose Pay in 3 at checkout where PayPal is available, and enjoy the power to split your purchase into three interest-free payments, with no set up fees or charges.* It’s a great way to help you stay in control of your budget.

Pay in 3: Easy as 1-2-3…

  1. Check out with PayPal
  2. Choose “Pay in 3” and complete your purchase.
  3. Make the first payment now, the rest in two payments every month on the same date.
Paypal Credit VS Pay in 3 Comparison
  PayPal Credit Pay in 3
Applying Apply just once and use it again and again Apply every time you use it
Interest Rate 0% interest for 4 months on all purchases £99+.2 Balances after this period or transactions under £99 are charged interest at the standard variable rate 0% interest on all purchases £30-£20003
Interest Rate No need for up-front payments. Enjot our 0% for 4 months offer and repay flexibly, as long as you meet the minimum amount requirement4 0% interest on all purchases £30-£2000
Instalments Monthly instalments from 6-48 months available at selected online stores No longer term instalments available
Spending Limits No minimum spend and you can spend up to your approved credit limit Can only be used on purchases £30 - £2000, with elgibility asessed for each purpose
Fees Fees may apply for late payments and returned payments. No fees3

1 PayPal Credit is a revolving credit product and outside of offer periods would be a more expensive way to borrow large amounts over a long period.

2 The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transactions under £99.00 will be charged interest at 21.9% p.a. (variable). In order to maintain the 0% offer, you need to keep up monthly repayments and stay within your credit limit.

3 Subject to status. Terms and Conditions apply. UK residents only. PayPal is a responsible lender. Pay in 3 performance may influence your credit score.

4 Except for offer balances during the offer period, if you do not pay off the whole balance owed every month, you will be charged interest, which could mean it will take you longer, and cost you more, to repay the full balance.

Shop your way with Pay in 3

interest
It’s an interest free loan

With Pay in 3, there’s no interest and no set up fees.*

Decision
Get a decision in seconds

You won’t have to wait to see if you’re approved.

PayPal
It’s backed by PayPal

Your purchases are covered by the same security and Buyer Protection you already enjoy from PayPal**.

Available
Available on most baskets*

*You can use Pay in 3 on purchases £30 - £2,000 across our entire product range.

Frequently Asked Questions

What is PayPal Pay in 3?

PayPal Pay in 3 is an interest-free loan that lets you split your basket into 3 payments, with the first due at time of purchase and subsequent payments due every month on the same date. It’s a great way to spread the cost of larger items or to cover emergencies, and is a helpful tool to manage your budget more effectively. Please note that Pay in 3 is a form of credit, so carefully consider whether you can afford the repayments and possible impact to your credit score.

Will I be able to use PayPal Pay in 3?

We’re offering PayPal Pay in 3 to a growing number of our UK customers.

PayPal Pay in 3 is not available for certain merchants and goods. We may also decide not to offer PayPal Pay in 3 as a payment option in certain circumstances, such as where our checks suggest an increased risk of fraud or where data we hold suggests you may not be eligible.

If you choose PayPal Pay in 3 as your payment method when you check out with PayPal, you’ll be taken through the application process. You’ll get a decision instantly, but not everyone will be approved based on our internal checks.

How long will my PayPal Pay in 3 plan last?

Your plan will last 2 months in total. The first payment will be due at the time of purchase, followed by 2 further payments due each month after that.

What information do I need to apply for PayPal Pay in 3?

To apply for PayPal Pay in 3, you’ll need to provide your:

• Title
• Phone number
• Address
• Date of birth
• Debit card information

How is my application for PayPal Pay in 3 assessed?

Our decision making process is automated. We assess your financial position using a combination of the information you provided within your application, and information about your usage and history with PayPal to decide whether PayPal Pay in 3 is suitable for you at this time.

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.

Will applying for PayPal Pay in 3 impact my credit file?

If needed, PayPal will run a soft credit check with an external credit reference agency. This leaves no permanent mark on a customer’s credit record if they choose not to progress. However, if a customer decides to use Pay in 3, we will report their ongoing performance to credit reference agencies as we believe this promotes responsible lending. So, it’s important that you’re able to keep up your repayments and that you’re comfortable that they’re affordable.

Are there any fees associated with PayPal Pay in 3?

There are no fees for choosing to pay with PayPal Pay in 3.

Terms and Conditions

PayPal Credit and PayPal Pay in 3 are trading names of PayPal (Europe) S.à r.l. et Cie, S.C.A. 22-24 Boulevard Royal L-2449, Luxembourg. PayPal Credit: Terms and conditions apply. Credit subject to status, UK residents only, Scan Computers International Ltd acts as a broker and offers finance from a restricted range of finance providers. PayPal Pay in 3: PayPal Pay in 3 is not regulated by the Financial Conduct Authority. Pay in 3 eligibility is subject to status and approval. UK residents only. Pay in 3 is a form of credit, may not be suitable for everyone and use may affect your credit score. See product terms for more details.