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PayPal Credit FAQ

For UK customers, there’s now an easy way to treat yourself to get all the crafting supplies you can dream of using PayPal Credit. It’s a quick, straightforward process allowing you to spread the cost of your purchases over monthly instalments for purchases over £150.

To check that you are eligible to apply for a PayPal Credit limit please make sure that you:

  • Are a UK resident aged 18 years or older
  • Have a good credit history and are not currently declared bankrupt
  • Have an income greater than £10,000 per year

Please Note: Meeting these criteria does not automatically guarantee acceptance. It simply means that PayPal will assess your application to join PayPal Credit.

Hobbycraft Trading Limited is authorised and regulated by the Financial Conduct Authority. We are a credit broker and not a lender PayPal Credit is a trading name of PayPal (Europe) S.à.r.l. et Cie, S.C.A., 22-24 Boulevard Royal L-2449, Luxembourg.


What is PayPal Credit?

PayPal Credit is like a credit card, without the plastic. It’s a credit limit that sits alongside your PayPalaccount which you can use for your online purchases.


What credit offers are available?

A 0% interest offer you can use again and again: PayPal Credit’s 0% interest offer is better than just an introductory offer. Every time you spend £150 or more, you will automatically get 0% interest for 4 months on that purchase. * Plus, you can spread the cost of purchases under £150 at the standard variable rate of interest, currently17.9% p.a.* The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transactions under £150 will be charged interest at 17.9% p.a. (variable). In order to maintain the 0% offer, you need to keep up monthly repayments and stay within your credit limit.


How do I apply?

Applying for PayPal Credit is easy. Just click on the PayPal Credit button on our checkout page.

The application form takes minutes to complete. PayPal will then run a credit check and, if approved, you’ll have a credit limit linked to your PayPal account as soon as you accept your Credit Agreement.

You can use the credit limit granted to pay for today's purchase and future purchases at thousands ofonline stores where PayPal is accepted, up to your credit limit.


Do I need to reapply if I already have PayPal Credit?

If you already have PayPal Credit you do not need to reapply, just select PayPal Credit as your payment option at checkout.


Do I need to have a PayPal account?

Yes, however if you don’t have a PayPal account, you can create one as part of the PayPal Credit application. Signing up for a PayPal account is free and easy; all you need to do is provide your email address, create a password and accept PayPal’s User Agreement.


What do I do if I am unsuccessful in applying for PayPal Credit?

If you have been declined for PayPal Credit, PayPal will send you more information about why your application was unsuccessful. You can still use PayPal to complete your purchase.


What happens if I want to return the item I bought using my PayPal Credit?

Just return your purchase as normal and the money will be refunded to your PayPal Credit account.


What is the cost of PayPal Credit outside of promotional offers?

The Representative Example below shows the typical costs of using a PayPal Credit limit, without using promotional offers:

Representative Example

Purchase rate 17.9% p.a. (variable)

Representative 17.9% APR (variable)

Assumed Credit Limit £1,200


Complaints

We undertake to provide the highest standard of service, whilst acting responsibly at all times. If, however, in the unlikely event that you do have a complaint regarding the credit broking service we provide you with then please let us know in person, in writing, by phone, email or text message and we will seek to resolve your complaint promptly. If you are not satisfied with our response you may wish to take your complaint to the Financial Ombudsman Service. In order to contact the Financial Ombudsman Service, you should contact them as follows:

Write to them at Exchange Tower, London, E14 9SR

Telephone: 0800 023 4567

Email: complaint.info@financial-ombudsman.org.uk

Website: www.financial-ombudsman.org.uk