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    If you pay back Paypal Credit over 12 months at 17.9% p.a early, Do you pay FULL 12 month interested or just the time you have had credit?

    I was wondering IF I paid back the full amount within 4 moths, would I also payback the FULL 12 months interested or just that of 4?

    Any Advice is appropriated.?

    9 Comments

    I would assume it would just be the interest for the months you were in credit. Much like how credit cards work.

    That's virtually "loansharking" - 17.9% APR when interest rates are virtually zero . Steer well clear of Paypal credit
    Answer to your question , it equates to about 1.3% a month , pay it off as soon as you can , as long as its not a 1 year loan then the interest rate (as credit card interest rates ) is expressed as an APR in this case of 17.9 % . That's my understanding , but have not and would not contemplate "borrowing" at such a rate so have no precise knowledge of this credit arrangement .

    Edited by: "rogparki" 5th Mar

    I use PayPal credit and it's 0% interest for 4 months if the item is over 150.00 pound. if you pay it off early you only pay the interest it has gained for the months the credit is active so if you buy something with the credit and you paid it off in 6 months you only pay 6 months interest hope this helps

    Original Poster

    Hollyoak1980

    I use PayPal credit and it's 0% interest for 4 months if the item is over … I use PayPal credit and it's 0% interest for 4 months if the item is over 150.00 pound. if you pay it off early you only pay the interest it has gained for the months the credit is active so if you buy something with the credit and you paid it off in 6 months you only pay 6 months interest hope this helps



    THis might be a better option. I hope to pay it within 4 really or at least pay some off but...if I say I paid it in 5 months, I would only technically pay for 1 months interested or from when the credit was opened?

    if the item is over 150 you get 4 months at 0% interest free then after the 4 month you start to be charged interest . if you pay it off in 5 months you will only be charged 1 months interest at 17.9%

    Original Poster

    Hollyoak1980

    if the item is over 150 you get 4 months at 0% interest free then after … if the item is over 150 you get 4 months at 0% interest free then after the 4 month you start to be charged interest . if you pay it off in 5 months you will only be charged 1 months interest at 17.9%



    THat is actually better than going full finance option. THank you very much

    darthvader666uk

    THat is actually better than going full finance option. THank you very … THat is actually better than going full finance option. THank you very much



    ​your welcome I got the samsung gear s3 frontier with mine paid it off in 3 months no interest charged works out better if you need to spread the coast

    darthvader666uk

    THat is actually better than going full finance option. THank you very … THat is actually better than going full finance option. THank you very much



    your welcome I got the samsung gear s3 frontier with mine paid it off in two months no interest charged works out better if you need to spread the coast

    Original Poster

    Hollyoak1980

    your welcome I got the samsung gear s3 frontier with mine paid it off in … your welcome I got the samsung gear s3 frontier with mine paid it off in two months no interest charged works out better if you need to spread the coast



    That exactly what I want. TBH I think I can pay it off in less than 4 but at least I know. thank you again
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