Do you want to know how to apply for PayPal credit card (No matter the type of card) without moving a muscle? Do you want to know everything about PayPal credit cards? Here’s all you must to know to make an informed decision.
There are a lot of reason why you need a credit card, from a good credit report to protecting your money.
How the PayPal Credit Card Works
PayPal provides all their users with three forms of credit, they’re:
- The PayPal Extra MasterCard
- The PayPal Smart Connect Card (formerly called PayPal Buyer Credit)
- And the PayPal Credit (formerly known as Bill Me Later).
PayPal Extra MasterCard
Most people applying for PayPal credit card go for the PayPal Extra MasterCard. This a real credit card provided by Synchrony Bank. It has an APR of 20.24%.
What You Get With This PayPal Credit Card
- Its fee free (no annual fee for this card)
- 3 points for every $1 spent at restaurants and gas stations
- 2 points for every $1 spent at PayPal and eBay
- 1 points for every $1 spent anywhere at all, online or offline
- Redeem your points for rewards
- MasterCard’s inbuilt protection against different kinds of inconveniences, malicious activities, identity theft, fraudulent purchases, and price drops all within 60 days.
PayPal Smart Connect Card
This is an online PayPal credit card only credit line formerly called PayPal Buyer Credit. The financing of PayPal credit card is done by GE Capital Retail Bank which also assist the PayPal Extra MasterCard. It has an APR of 27.24%.
PayPal credit is a line of credit financed by Comenity Capital Bank that gives you the ability to pay for all your purchases now, or pay over time. It does not affect your credit score in any way. It has an APR of 19.99%.
How to Get the PayPal Credit Card
To get a PayPal credit card, you have to apply for one first, be 18 years or above, and live in the United States. All Application approval is controlled by the credit approval by Synchrony Bank.
Based on your credit score and your history, Synchrony Bank will determine if you get a PayPal extra MasterCard or A PayPal Smart Connect Card. You may have applied for a PayPal extra MasterCard But that not a guarantee of you getting it. The user would be considered for both when he/she apply for one PayPal credit card.
If you use your PayPal Smart Connect Card responsibly for some time, PayPal may decide to upgrade your credit card account to a PayPal Extra MasterCard. This may take between 12 – 18 months, due to your level of credit-worthiness.
Making use of PayPal credit is really easy. Just select PayPal credit as your means of payment during the checkout. Type in your date of birth and your social security number. After that, you need to approve to the terms and condition, to apply for a PayPal credit account. Within seconds you would know if your PayPal credit account has been approved.
This is all you need to know on how to apply for PayPal credit card. Also see; PayPal Account – Types, Advantages and Differences and Paypal.com – The Key To A Stress-Free Online Money Transfer.