I use the 6-month deferred purchase for various things and plan purchases so that if I pay $300 a month, I will always pay off everything (I have spreadsheets and stuff to track this).
Now last month I also made a 24-month Easy Payments purchases that's gonna cost me $50 a month (though I plan to pay it off much sooner than 24 months).
I'm trying to pay my current statement and want to make sure the payment is allocated as I expect. So here's the situation:
I have a 6-month deferred interest purchase that expires this statement period and has $18 remaining. My minimum payment for this month is like $90 which I assume includes the additional $50 per month of the 24 Easy Payments. I don't have any standard purchases on the account. I only use it for things I finance.
If I pay may usual $300, it should pay off the $18 remaining on that 6-month deferred interest balance, plus the current installment of the 24 Easy Pay balance ($50). How is rest of the $300 allocated?
Paypal says they allocate payments to the balance with the least interest rate (https://www.paypalobjects.com/marketing/web/us/en/ppcterms/ppcterms.html), so I expect the rest will be applied to whatever other deferred interest balance I have as their APR is like 30% whereas the Easy Payments APR is listed as 0% on my statement.
However, I'm not sure if this is how it works in practice. I specifically don't want the remainder to be used to pay off future installments of the 24 easy payments balance (it's really really really dumb if this happens). They should apply the remainder to whatever deferred interest balance that expires next month. But who knows..
If anyone else has these types of balances at the same time, what was your experience with how the payments were applied?
