Closing PayPal credit account

[Jenjen_82]

I want to close my PayPal credit account so I can’t spend on it anymore and continue making my monthly payments. Does anybody know if this is possible please? I spoke to PayPal and they told me not as it would impact on my credit score yet I’ve done the same with my credit card with no issues.

[sharpiemarker]

@Jenjen_82 

Even if it does, how bad of an effect will it have on the credit score, I wonder.

You can certainly close the account but you won't be able to reopen the same account, that is for sure, once you're paid up. You'd have to start over essentially by opening a new account and they'll do a hard inquiry and hit your credit rating again.

Maybe open another PayPal account that doesn't have PayPal Credit on it. Or be super careful when you buy and not select PayPal Credit as the funding source.