Paypal Virtual Credit - 4 Months Interest free on purchases over £150
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Paypal Virtual Credit - 4 Months Interest free on purchases over £150

14
Found 3rd Mar 2016
Just had an e-mail through from Paypal on a new kind of credit they are doing. Basically it seems that any purchase over £150 gives you 4 months interest free to pay it back. From the blurb it seems like it's not a one off you can use it over and over again.

I know it's not as long as some of the 24 - 37 months free deals. But as it's ongoing on all purchases still seems pretty good.
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They've been doing this a while. It's quite useful actually
Hmmm seems handy to have but is always going to get some people in debt.
There is a gotcha with PayPal that people should be aware of.
If you buy something costing more than £100 with a credit card then you automatically get a lot of additional protection from your credit card company. This is due to section 75 of the consumer credit act.

Under Section 75 of the Consumer Credit Act, the credit card company is jointly and severally liable for any breach of contract or misrepresentation by the company.

I bought some furniture on Ebay which was completely funded by a credit card, but was bought using PayPal. After 9 months it started to fall apart. The Ebay seller didn't want to know. PayPal said it was outside their purchase protection period and my credit company said that as it was a PayPal purchase, Section 75 was not applicable. I did some checking and the credit company were correct.

Needless to say, my rule of thumb now is if it is under £100 pay with PayPal otherwise use a Credit card.
how you gonna pay using credit card for a private seller on ebay ?
taiko

how you gonna pay using credit card for a private seller on ebay ?


You can pay using your credit card via paypal, that should afford you better protection than this.
dalecool92

Hmmm seems handy to have but is always going to get some people in debt.



Surprising how many amateur financial advisors are on here.

oO
davelfc

You can pay using your credit card via paypal, that should afford you … You can pay using your credit card via paypal, that should afford you better protection than this.



But this wont offer your better protection, please read what NiceButDim wrote above.
RockyRobin

Surprising how many amateur financial advisors are on here.oO



​Great comment, shame no heat button for comments.
daBluone

But this wont offer your better protection, please read what NiceButDim … But this wont offer your better protection, please read what NiceButDim wrote above.



I was not aware of this, very interesting. thanks.
evil
daBluone

But this wont offer your better protection, please read what NiceButDim … But this wont offer your better protection, please read what NiceButDim wrote above.



This deal will provide you with exactly the same protection though.
Just buy it interest free from the catalogue they give you 12 months
Edited by: "stupot76" 3rd Mar 2016
julieallen

This deal will provide you with exactly the same protection though.



Ahh - good point julieallen. I hadn't thought of that. Yes, PayPal would be hard pushed to dodge Section 75 here I suspect. I will report back once I know for sure
If this was Amazon it'd be 5000 degrees lol
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