DO NOT USE PayPal Credit Card. Interest Fees Are a Scam and their business practices are dishonest

[Jason80]

I've been using PayPal  for over 15 years so I decided to try giving their credit card  after getting a promotion for six months no interest.

I set up auto payments thinking it would automatically pay the account off when  it became due, but it did not. So, I was charged almost $200 in interest fees, and although I paid off the balance when I saw what had happened just one week later, they would still not waive this interest fee. Any other credit card company would have waived this fee, but PayPal is sticking to their dishonest business practice of not notifying you that the auto payment will not pay off  the balance, and they will not waive the interest fee even though you paid the balance off immediately after becoming aware. They also DO NOT CARE how long you have been using PayPal.  

Needless to say, do not sign up for their credit card, even from a promotion. IT IS A SCAM!

[tarabryan1]

I've been receiving invitation emails for some time to apply for the PayPal MasterCard. As soon as I seen the posted interest rates I was so disgusted I googled "PayPal credit card ripoff" and found this forum. I've been disgusted with PayPal & their exorbitant charges for years now. In fact I quit buying and selling on eBay because of these excessive charges. I possess several credit cards. The highest interest on any of these is 19% The lowest is 8% Not only is PayPal's interest rate plus 22%, but they also calculate the interest differently, resulting in extreme interest charges. PLEASE PLEASE people, do not apply for this card. The whole thing is designed to keep you in debt. Please read the fine print. If you're in need of a starter card go with capital one..or a Walmart master card. You've been warned my people.

[Jason80]

Yes, I still suggest that everyone who receives the credit card offer - ignore them and avoid like the plague!

[Jason80]

Man so sad to see them ripping so many people off. Well hopefully this prevents people from getting rip-off by PayPal when they do a Google search like yourself. If they were actually honest this would have been a forum post with a lot of recommendations, but sadly it’s not. Also, I have been using PayPal since it started so that’s even sadder they can’t get a lifelong user like me.

[Pogikoh]

I have had similar problems with PayPal as well. They like to switch your method of payment without notice and then you get charged to their account. And then you don't realize it and that's how you gather interest fees

[CallieLinux]

I ran into a similar issue with PayPal Credit (no physical card). I signed up for auto-pay (statement balance). While I did get an email letting me know the auto-pay amount, I happened to notice that it was for the minimum balance and not the "Amount to avoid Standard and Deferred Interest". I had to submit a separate payment one-time payment to pay off my entire balance and keep from being charged interest. What's the point of auto-pay your statement balance if you can still be charged interest?!

After this experience, I will no longer be using PayPal Credit. I had used PayPal in the past to avoid entering my credit card information on unfamiliar sites, but with the increasing option to use Google Pay, I will look into closing my PayPal account altogether.