Here at Oxford Funding, we will tell you about what the PayPal credit card has to offer you so that you can have a broader vision of its benefits and requirements.
There is no doubt that credit cards have become an amazing tool for those who need to improve their financial situation or just solve an emergency or a current payment. Using a credit card will also be a great way to get rewards.
Although some people may think that credit cards are a double-edged sword (and sure they are), it all depends on the knowledge you have about how to use them correctly and in your favor.
One of the best secrets to not go crazy between expenses and debts is to know your financial limits and not to exceed your purchases, so you can properly pay for them in the future. Some people have learned this the hard way, because if you don’t take the right decisions, unfortunately, it will have consequences.
This is what we mean when we talk about using them correctly and in our favor, because as long as they are used with caution and wisdom, credit cards may become our best financial allies.
There are tons of options when looking for a credit card, but not all of them will be to your convenience, some will work better for you than others or maybe they will have better chances.
That is why it is very important to do preliminary research on the options you have at hand, so you can choose properly.
What is a PayPal credit card?
A credit card is a credit card account that gives you the option of being renewed. This credit card is integrated immediately once you acquire it. Besides, it offers you the opportunity to start buying or spending on what you need (or want) right at the moment when your application to obtain the credit card it’s approved.
Of course, like any loan or credit, this will be tied to your possibilities, situation, and needs.
In case you are interested in obtaining one, you should know that for new accounts Variable Purchase APR is 23.99%.
The good news is that it’s actually very easy to apply for a PayPal credit card, and also easy to use whenever you need it.
It is important to mention that the PayPal Credit card is subject to credit approval and is offered by Synchrony Bank.
How does it work?
This credit card offers you 6 months of financing on purchases of $99.00+. This means that you will get no interest if paid in full in 6 months on purchases over $99.00.
One of the best things about the PayPal credit card it’s how easy it is to get one. You just have to follow a few steps:
-
- You must already have a PayPal account.
- Click on “Apply now” and provide some personal information such as your date of birth; your income after taxes, and the last 4 digits of your Social Security number.
- Agree to the Terms and Conditions.
- If you get approved, you’ll start shopping immediately.
Another nice thing about this is that your PayPal Credit account will be linked to your account with PayPal and you’ll see it as a payment option every time you check out with PayPal.
Benefits of using a PayPal credit card
As we said before, we know that choosing which credit card to obtain can be a tough decision.
There are many details to take into account to make sure you choose the perfect one for you, so that’s why here we are telling you some benefits or advantages of obtaining this specific:
- There is no annual fee to use a PayPal Credit account.
- PayPal offers you purchase protection, which means that if your purchase doesn’t match the exact description or doesn’t arrive at all, PayPal can refund the full purchase price plus original shipping costs.
- PayPal assumes the return shipping, so if you aren’t happy at all with your order, PayPal can refund the cost of sending it back.
- The checkout is really fast, there’s no need for card numbers or expiration dates.
- You earn 2% cashback on every purchase.
- If approved, you’ll get at least a credit limit of $250.
It is not a secret that every credit card will have advantages and disadvantages as well, and that’s precisely what makes it a little difficult decision when you must take it.
But after this PayPal credit card review, we hope that you have a little more clarity now about what this credit card offers, so you can choose the one that best suits you and your current situation.
Now, if you need to solve an economic struggle as soon as possible, credit cards aren’t the only solution.
You also have the option to apply for installment loans. Which is a loan that is repaid according to a fixed payment schedule. This means that you will have to pay a certain amount of money for each payment due date.
With each payment made, little by little the original debt is diminished and the accrued interest is being paid. This type of loan has the great advantage that it can be repaid at any time without a prepayment penalty.
Here in Oxford Funding, you can find our Oxford Financial Services, where you will have the opportunity to request a loan that suits your needs and payment possibilities.
We are dedans when the time comes to provide loans because we study in detail the situation of those who require it. This way we can offer you the best possible deal with the ideal interest rates.
If you have already decided to apply for a loan, please don’t hesitate to contact us. We will be happy to assist you.
