in Personal Lines of Credit from PayPal IncClaimed
in Personal Lines of Credit from PayPal Inc
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|Community Rating||Mostly recommended|
|APR (Variable APR)||25.99%|
|Loan Amount||$250 - $10,000|
PayPal Credit Review
PayPal Credit is offered by PayPal Inc, founded in 1999 and based in San Jose, CA. The offering is made possible by a bank partnership with Synchrony Bank. PayPal Credit is offered in 50 states (and Washington, DC).
What APRs does PayPal Credit offer?
PayPal Credit offers a variable APR product of 25.99% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
Does PayPal Credit charge an origination fee?
No, PayPal Credit does not charge an origination fee.
An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.
Does PayPal Credit charge a cash advance fee?
No, PayPal Credit doesn't charge a cash advance fee. Some lenders charge a cash advance fee every time borrowers withdraw cash from their line of credit. Typically, fees range from 0.5% to 10% of the amount withdrawn.
Does PayPal Credit charge a late fee?Yes, PayPal Credit may charge borrowers a late payment fee of up to $38 , which is triggered if you're 25 days late.
How much can you borrow via PayPal Credit?
Upon approval and based on your credit worthiness, your PayPal Credit personal line of credit will be assigned a credit line of at least $250 and as much as $10,000. .
|Cash Advance Fee||26.24%|
|Late Payment Fee||$38|
What do you need to qualify for PayPal Credit?
Applicants with a credit score of at least 600 and up to 850 are eligible for PayPal Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
PayPal Credit does not have or does not disclose a minimum annual income eligibility requirement. PayPal Credit only considers borrowers who are employed.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via PayPal Credit. Their rates fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
What is the estimated funding time for a personal line of credit via PayPal Credit?
PayPal Credit will typically provide a credit approval decision in less than an hour and fund the line of credit within 1 business day.
How to apply for PayPal Credit
- Visit the PayPal Inc website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
- Check the information is accurate and submit your application.
Message from PayPal Inc
Other Services by PayPal Inc
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Carried Balance Fee||$0|
|Late Fee After (number of days)||25|
|Late Fee Amount||$38|
|Cash Advance Fee (%)||26.24%|
|Credit Score Range||
600 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Supported Income Types||
|Verification Documents Required||
|Loan Amount||$250 - $10K|
|APR (Variable APR)||25.99%|