PayPal Credit is a regulated credit product. It is like a credit card, and gives you a credit limit which can be used for promotional offers or making purchases at your standard variable rate online.

If your application is successful, PayPal Credit will be available as a funding source within your PayPal wallet and can be used for purchases in most places where PayPal is accepted. You can make purchases in the same way as you would with a normal credit card, by choosing PayPal Credit as your funding source at checkout.

PayPal Credit will provide you with a monthly statement showing your transactions and detailing the minimum repayment amount. Repayments can be made by monthly direct debit, directly from your PayPal account or by speaking to our customer service agents. For further information on how you can pay your PayPal Credit balance, see the 'Make a Payment' section below.

For purchases less than £99, interest is charged at your standard variable rate if the full amount is not paid off by the date shown on your statement.

In addition, PayPal Credit lets you access two types of promotional offers:
• 0% for 4 months on all purchases of £99 and over; and
• instalment offers with selected merchants.
If you use any of these promotional offers, they will also be detailed on your monthly statement, as well as in the PayPal Credit section of your PayPal account.