Paypal Credit or bill me later credit line questions and experience.

Seireitou · November 29, 2015

So I'm selling my GTX 960 and some other things while doing the math I still wont have enough to cover the cost for a R9 390 or 390X. I've been looking into paypal credit and I'm really interested in signing up and crying it out. I understand how this works, I sign up and they check my credit (which makes it lower for a bit) but if I don't make payments on time does it go on my credit or no? If I make payments will it look good on my credit? Also, some people say paypal credit is a scam. I'm not using this to buy that 1k GPU that everybody wants. I'll have at least half of the money of the new gpu and be able to make payments fairly easily and almost 100% sure I'll be able to pay it off in 6 months before they charge me interest. I'm thinking about grabbing a 390x for around 350 or so, perhaps I'll be able to find a cheaper on. and I'll sale my GTX 960 for around 170 or so. So its fairly close to half. Is this a good idea? Am I missing something very important about this Paypal credit? I'm already on the last page of apply now and just need to make sure I'm not missing anything... Please help??

eLucid · November 29, 2015

You're obviously young and you'll only end up in debt extremely fast if you have no idea how interest rates work. Save your money and purchase the card up front. You'll save yourself and your parents a lot of trouble.

Seireitou · November 29, 2015

I'm 21. I know how this woks. If I pay in full by 6 months, I pay a monthly payment and no interest as long as its paid for in the 6 months time. If its not then I will accumulate interest from the date of purchase, also if I don't pay it back in a year, I'll also be charge a 19.99% APR over the remaining balance. I heard this paypal credit doesn't alert the credit bureau, so it wont mess my credit up and its only 350 - 400 max. In six months I can pay for that easy but I don't wanna wait six months to get a card. Thanks for your concern but I don't need you to save me. I just need you to tell me some things I missed because I AM young and tell me if you've had a bad experience with them.

0ld_Chicken · November 30, 2015

I've been there. Still owe several hundred and have a couple months left before my 0% runs out. Would've been super easy but i obliterated my ankle and took about 5 weeks completely off work and half time another few weeks after that (equals 3500$ lost). Then my gf got sued for past med debt (another grand). That all ate up my savings which could've covered my pc but i figured 0%, why not hang on to my money for a bit. Well now ill probably get it all paid off working overtime but damn it is kinda a trap (like most credit). If you make ONE purchase and pay at least 2x or 3 times what the minimum payment is then you shouldn't find yourself in any trouble (til you break your ankle and get sued)