![]() If autopay is enabled for your Pay in 4 plan, the one-time repayment has to be received prior. Then, you can make an unscheduled or extra repayment that will be applied to that Pay in 4 loan. Also check out how to use PayPal's QR Codes to make purchases and get paid below. Log into your PayPal account, go to your Pay Later section, choose the Pay in 4 plan you want to pay and click Make a Payment. Because Bill Me Later extends a line of credit, a relatively high credit. Watch the video and make sure to like and subscribe for more How To videos from CNET. At a glance You may have seen PayPal Credit, formerly known as Bill Me Later, as a payment option while shopping online. Bill Me Later can be connected to other online financing applications, such as PayPal. How PayPal Pay in 4 impacts your credit score. All you need to worry about is keeping your debit or credit card in good standing during the payoff period and managing your credit card payments as usual (unless you used a debit card, which would automatically withdraw funds from your bank account).ĬNET's Stephen Beacham demonstrates how PayPal's Pay in 4 service works in the How To video embedded above on the How To Do It All YouTube Channel. PayPal’s Pay in 4 is a buy now, pay later installment loan available through select retailers. ![]() Your first payment is due at the time of purchase, followed by three installments every 15 days until the balance is automatically paid off. Basically, it's like a low-risk microloan backed by PayPal to make. A soft credit check is performed when you apply for our Buy Now Pay Later options which will not affect your credit score. Your payment dates and the amounts owed on each date will be displayed before you make the purchase, so you know exactly when and how much your credit or debit card will be charged for each payment. According to PayPal, Pay in 4 doesn't affect your credit score, and there is 0 interest on the bi-weekly payments. To determine if you're eligible, PayPal says it runs a soft credit check that won't hurt your credit score. When applying, a soft credit check may be needed, but will not affect your credit score. To use PayPal’s Pay in 4 at checkout, complete your purchase and then follow these steps: Under payment method, choose PayPal.
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