PayPal Credit- anyone ever use it? Good or bad experiences? Scam?

[Blazing Lazers]

Might just be me, but it seems as though a lot more listings have options to pay with PayPal Credit, and no interest if paid in full in six months. Now since I've never used it as either a seller or as a buyer, I'm wondering if anyone here has used it, and if they would recommend it or avoid it. Googling seems to reveal a fair amount of horror stories of people being charged outrageous interest rates and even incorrect and continued billing. I've pondered using for a few collection completing items, and to make available as a payment options for some planned future sales. Any thoughts on it are greatly appreciated

[Rick Weis]

I've never used it or have it and never will!! I like having a Credit Card that is not connected to paypal/ebay! it gives me a 2nd option in case I ever have a problem with pay pal.

 

Rick

[+save2600]

Are you talking about their "credit card" called Smart Connect? Yeah, it's a friggin' mess. Use it all the time (though trying to stop) for convenience and have had several problems with billing re: credits. Horrible accounting system that's not clear to read either and have had to call a few times to get things straightened out. Don't know about the interest rate as I always pay the balance by the end of the month, but I'm sure it's high.

"Synchrony Bank" is who you get handed off to whenever (and there will be) a problem. PayPal tries to make it seem as if they're two totally different entities, but you get transferred and passed around to them when you call. Weird, strange, ugly and clunky stuff going on there!

 

BTW: I don't remember ever signing up for or applying for 'Smart Connect'. It was just there one day. And then months later, they bumped up the available credit (option to buy) automatically, just like a real credit card. lol

[+stupus]

I signed up for the paypal credit when they created it a few years ago.

I have used it all the time and never had any problems with it.

you can make the payment with your paypal account balance or checking account on file too.

They offer interest rate specials periodically. The regular rate is fairly high like most credit cards.

You can use it for most everything on ebay but some international transactions won't allow it if they are not on ebay usa.

This is just my experience, I have never dealt with any customer service or needed to....

[TheClassyGamer]

I've used it quite a bit.

 

One of the things I use it for is that I work with a factory over seas and I use that to pay them. Once I have my goods produced and in my hand then I pay off the credit. Seems like I remember there being some features of it that were helpful for what I was doing that were better than using my credit card for but off the top of my head I can't remember what they were.

The interest rate on it is far too high to carry any kind of balance though so I wouldn't use it unless you were going to be paying it off before your purchase would draw an interest charge.

 

Typically I don't make any purchases bigger than 3k to 5k with it so I can't really comment on how good it is for big ticket stuff. The way they are always running no interest for so many months on stuff with it, that gives me time to have my goods produced and shipped as that usually takes more than a month to do so I'm not paying interest on them and not having to front the cash on something that may get lost or have a production delay. It would suck to be paying interest on a product for two months waiting to get my hands on it and I don't want to buy using my own funds as I won't have the same kind of protection for my purchase if things go south.

 

Really, I guess I'm saying that it is good or bad depending on how you plan on using it. My bank charges out the rear for trying to do the international transactions I need to do and my CC I have is through them so it's a pain all around and using the paypal credit saves me some cash.

[Clint Thompson]

I've used it for a few years now and haven't had any issues or problems with it. I mean, it's basically just a credit card like anywhere else (except you don't get a plastic card or numbers heh) only more specifically targeted for all your eBay purchases. I definitely haven't used it for anything else and to be honest, not even sure I could if I wanted to.

Edited July 13, 2015 by Clint Thompson

[Algus]

I used it to help buy my last computer. It was nice because I didn't have to tie all my cash up in the purchase over a month or so and was able to have it all paid off before the first payment came due and I would have started getting charged interest.

 

One thing I've noticed is that not all businesses that accept PayPal allow you to use the credit line as payment. I would actually use it more but a few places I shop won't actually let me use it.

[Blazing Lazers]

This is all really helpful- thanks all Seems as though it is something useful and harmless if you pay off everything within 6 months.

[+save2600]

...until you return something bought on that card and the credit doesn't show.

[+stupus]

...until you return something bought on that card and the credit doesn't show.

Not sure if you have the standard 'paypal credit' or not.

I have never seen mine referred to as smart connect, and it's not owned by synchrony bank...it's owned by comenity capital bank.

So maybe these are separate programs? Not sure.....

[+save2600]

Not sure if you have the standard 'paypal credit' or not.

I have never seen mine referred to as smart connect, and it's not owned by synchrony bank...it's owned by comenity capital bank.

So maybe these are separate programs? Not sure.....

 

Yeah, could be. The Smart Connect thing I'm talking about is on your Account Overview page, listed underneath your balance. It's there all day, every day and can be used as a credit card. Can throw payments at it via your PayPal balance or checking account too.