Anyone an expert on Paypal Credit promos?

[chalupacollects]

Hello everyone,

This obviously not a pre-war question but might be of interest to everyone.

I signed up last year for Paypal Credit mainly to take advantage of the 0% for 6 month promos they always have running...

Took advantage of it last fall, made a purchase of cards - not through ebay or an online store but an individual. Transaction went through no problem.

First statement shows, interest and late fee. Call in to customer service which is Synchrony Bank and late fee is removed as transaction occurred after previous month statement and new statement hadn't been issued. I also had made a payment prior to statement being issued to boot...interest however is not since...

The Paypal Credit transaction went through as a standard transaction not unlike FF or G&S or CC...customer service rep told me that since I hadn't paid off a Paypal invoice transaction kicks to a standard transaction (interest accruing) Then he places it in dispute since nowhere in Paypal's Terms and Conditions, website, promos or elsewhere does it state how to use the 0% promos. Fix date was told to me by 2/6/2020...rep tells me they normally do a one-time correction and credit interest back since no invoice issued...

Today I check account and no change, interest is still there and not credited... Call in to customer service and find that it is Synchrony Bank customer service and NOT Paypal...call back in and CSR tells me that only merchants like ebay will give you that option. I disagree with him show that whenever you go to send money Paypal credit with 0% is an option, showing no qualifiers. We escalate again, manager agrees that it is an issue and that Synchrony plans on fixing that in the meantime my dispute will take another cycle to resolve... end of story with Synchrony is that they have no idea how the product works and refer me back to Paypal….they gave me 3 different answers...

This gets better!

I call Paypal and after finagling a way to a live operator (since its not a complaint or a payment) merely a fact finding mission they tell me that Paypal Credit is not a Paypal product, its Synchrony Banks'. All roads lead back to Synchrony. Paypal reps couldn't tell me how product works either other than ebay...

So at this point I am waiting for interest refund and plan on reaching out to Paypal exec team next week for an answer on how this works. Its a good way to buy cards!

Anyone else have similar experiences and or resolutions with this type of issue?

Thanks all!:confu sed:

[Santo10Fan]

I churn credit card and checking promos all the time. Paypal credit's 6-month "promo" is the worst I've ever used. It charges retroactive interest if the balance isn't paid in full within 6 months.

[chalupacollects]

Well some of them charge back from day one if balance not paid. Some only charge interest on remaining balance..

This is different, they don't seem to know what the actual offering is!

[cammb]

You buy a product at the 6 months free interest. The interest accrues but you are not charged it unless you fail to pay back within 6 months. Same as 12 and 24 month interest free promotions. The problem with the 6 months free interest is if you have any other outstanding PayPal purchases the bank pay whoever they want first.. You have to stay on that. Been through what you have been through. If you have any other outstanding purchases I would advise you to make payments over the phone and tell them where you want your payments to be allocated.

[chalupacollects]

Thanks, that I was aware of, or you could make double payments per month... my issue is that I followed their instructions and they are not honoring the promo... yet - Its in dispute...