How do I qualify for PayPal PayLater?

Qualifying for PayPal PayLater

To utilize PayPal PayLater, you must meet certain eligibility requirements:

• Age Requirement: You must be 18 years of age or older.

• Payment History: PayPal PayLater considers your previous payment history with PayPal when reviewing your application. Consistent and timely payments on past PayPal transactions increase your chances of approval.

• Creditworthiness: PayPal PayLater assesses your creditworthiness based on factors such as your credit score, income, and debt-to-income ratio. A good credit history and financial stability enhance your eligibility.

• PayPal Account Status: You must have an active PayPal account in good standing. Accounts with limited activity, unresolved disputes, or negative feedback may face restrictions on accessing PayPal PayLater.

Consequences of Missed Payments

It’s crucial to make your PayPal PayLater payments on time to avoid any negative consequences:

• Late Fees: PayPal may charge late fees if you fail to make your payments by the due date.

• Credit Damage: Missed payments can adversely affect your credit score, impacting your ability to qualify for future credit products and loans.

• Account Suspension: PayPal reserves the right to suspend or limit your PayPal PayLater account if you consistently make late payments.

Financing Provided by WebBank

The financing for PayPal PayLater is provided by WebBank, a Utah-chartered industrial bank. As the lender, WebBank assesses your eligibility and sets the terms and conditions of the loan. By using PayPal PayLater, you enter into a loan agreement with WebBank.