PayPal is a giant in online transactions. It is renowned as the universally safe way to pay for purchases made or transactions done online. However, have you ever thought what if you can pay money later in PayPal? Yes, you can do that. Whether you are buying groceries, a new gadget, or something else online PayPal offers pay now options or a pay later option through PayPal Credit. Here, in this article, we will discuss what is PayPal Credit and How to use it.
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What Is PayPal Credit?
PayPal Credit (formerly known as “PayPal Bill Me Later”) is a kind of reusable credit line that is built into your PayPal account. It is a virtual credit card that was originally launched in the year 2008 but was re branded into its current form in 2015. This is paperless and cordless service built directly into your PayPal wallet.
In technical words, it is a line of credit issued by ‘Synchrony Bank’ that gives you the flexibility to pay for your purchase immediately or pay over time. It is very simple to use and even simpler to apply for it.
Read Also- Steps to add bank account to the PayPal account
Where Can You Use PayPal Credit?
Now, you must be having a question where you can use PayPal Credit? The answer is Yes, you can use it at any online retailer which accept PayPal. There are some companies that have a PayPal Credit option on their checkout screen, on the other hand, some don’t. So, as long as PayPal is accepted, PayPal Credit will also be accepted including eBay, Etsy, Walmart and other thousands of stores online.
This feature facilitates the users to shop online without even entering a credit or debit card number. And that’s how it has increased the security alone. PayPal Credit is not a physical card and it is very easy and quick to sign up and get approved.
Applying for the PayPal Credit During Purchase
You can apply for PayPal Credit while completing a purchase with a retailer that accepts PayPal:
- First, select ‘PayPal Checkout’ as your payment option.
- Now, if you don’t have a PayPal account, you’ll be asked to create an account. If you have an account, you can go ahead and log in.
- While creating a PayPal account for the first time, you will be asked to provide your credit or debit card information.
- After creating your account, you will have the option to use PayPal Credit.
- Select the PayPal Credit option, then follow the simple instructions by providing your social security number and date of birth. You will receive your approval in seconds.
Applying for PayPal Credit Using Your Account:
If you already have a PayPal account, you can apply for PayPal Credit at any time using their online approval process.
- First of all, log into Paypal.com.
- Then, select the ‘Apply for PayPal Credit’ option.
- Now, on the next screen, you will be given information regarding PayPal Credit’s interest rates and promotional rates.
- You need to select ‘Apply Now’ to get started on the application process.
- Then, during the application process, you will need to enter your social security number (SSN) and date of birth.
- After entering these details, click on the ‘Submit’ button. You will receive an answer instantly.
Is PayPal Credit Secured?
Now, the question that you must have in your mind is whether the PayPal Credit is secured or not. The answer is always yes. PayPal provides ‘zero fraud liability’ protection to all its customers, which is the same protection that most major credit cards offer.
In other words, it means that you cannot be held liable for unauthorized charges, and if someone hacks your account and goes on spending your money, then you are guaranteed to get all of your money back.
So, this was all about PayPal Credit and how to use it. You can try out this amazing feature provided by PayPal to ensure convenience while shopping online.
See also – Speak to live person at Paypal