Where does PayPal Credit do business?
PayPal Credit is a line of credit issued by Synchrony Bank. PayPal Credit is based in Timonium, MD. It was founded in 2008 and offers personal lines of credit in 50 states (and Washington, DC).
What are the APRs offered via PayPal Credit?
PayPal Credit offers a variable APR personal line of credit of 25.99%.
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 Typically, fees range from 0.5% to 10% of the amount withdrawn..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.
Does PayPal Credit charge prepayment fees?
No, PayPal Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.
How much can you borrow via PayPal Credit?
Personal lines of credit start at $250 and go up to $10,000.
What do you need to qualify for a line of credit with PayPal Credit?
Applicants with a credit score of at least 600 can apply for a line of credit via PayPal Credit. The minimum age to apply for a line of credit is 18 or the state minimum, whichever is higher.
PayPal Credit only considers borrowers who are employed.
Active duty servicemembers and their covered dependents are eligible to apply for a line of credit 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 line of credit.
To qualify, applicants may need to provide the following documentation:
- Proof of identity
- Proof of income
- Social Security Number
What is the estimated funding time for a personal line of credit via PayPal Credit?
PayPal Credit will typically fund personal lines of credit within 1 business day of approval.
9690 Deerco Rd
Timonium, MD 21093 USA
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Message from PayPal Credit
- 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 (%)||25.99%|
|Credit Score Range||
600 - 850
850 300 600
|Immigration Status Considered||
|Employment Statuses Considered||
|Supported Income Types||
|Verification Documents Required||
|Loan Amount||$250 - $10K|
|APR (Variable APR)||25.99%|