Apple Drops Support for PayPal Credit Payment Plans in U.S. Online Store

[dstud208]

Sucks for people that have no other options ....

I use PayPal only if I am forced to use it due to no other options .... somehow never was a fan of it.

I hate PayPal, do not know why... It always seems like a fight every time I use it. Probably because I never use it though lol

 

[Droobiemus]

I've bought several products via PayPal Credit on the Apple Store before.... my 5K iMac and my iPad Air 2. Was going to buy an iPad Pro this way, too, but I just pre-ordered one through MacMall using PayPal Credit. Kinda lame that Apple is limiting how people can buy their products. Why should they care what vendor they're using as long as they get paid?

 

[Droobiemus]

A PayPal account is a really bad place to keep money: http://www.paypalsucks.com

And I bet you're one of those "Credit cards are evil" people too. Any kind of line of credit is useful if used responsibly.

 

[robotica]

Good - I simply don't trust PayPal.

 

[Lazy]

And I bet you're one of those "Credit cards are evil" people too. Any kind of line of credit is useful if used responsibly.

You lost that bet. I use a credit card whenever possible (and pay off the the full balance every month of course). And having money in a PayPal account has nothing at all to do with credit: it's your money already and you're not loaning it to anyone. And using PayPal is risky whether or not there's any credit involved.

So gee, your response completely misses addressing anything in my post. I'll bet you're one of these people with poor reading comprehension skills.

 

[Mums]

Good. And long overdue. I'm one of the (many?) people who filed a complaint with Apple about this.

PayPal Credit would list a cheap rate on the Apple web site (something like no interest for 12 months and 12% after that), then when you got deep deep deep into the sign-up process, only if you clicked a tiny "more" disclosure button would you see that you were actually getting shafted with an entirely different interest rate and no free interest period.

It's so bad that you could actually display both of the rates on the same page, the lower one in big letters at the top, and the real rate at the bottom in tiny print. I sent a PDF of this to Apple.

When I called PayPal about it, the woman on the phone said there was nothing to be done, you have to pay the higher rate no matter what PayPal advertises on the Apple web site. When I went through the formal complaint appeals process my "claim" was "rejected" with no explanation.

I've been a PayPal customer for well over a decade. PayPal Credit isn't PayPal. it's a bank out of Atlanta. Maybe it's just licensed the name. I dunno.

Even today if you click the "view statement" link in the PayPal Credit section of your PayPal account it takes you to a redirect page that sends you back to the main PayPal page. There is no way to view your statement online. Smells very scammy to me.

The banks are lawless now.

 

[Solomani]

Wow. I wouldn't have suspected this to be the reason. That sucks about PayPal, a company that I like as a user and a merchant. Bad PayPal! Good Apple.

PayPal is best at small (secure) online transactions, like when you buy Christmas gifts at Amazon, or you want to buy some online porn. They're nothing special, and in fact are no better than established CC companies when it comes to large-purchase financing, like buying a car, motorcycle, or a $2500 computer.

And as others have already stated, PayPal does NOT offer the same government-regulated FDIC protection for consumers like REAL financial companies like Discover Bank, CitiBank, Chase, etc.

 

[Tycho24]

Guess those Musk comments really made them upset huh...

Haha...
Good one!
Lol, I had COMPLETELY forgotten about his association with PayPal. It took me a good minute to get the joke... made me lol all the harder!!!

 

[dbwie]

Good. And long overdue. I'm one of the (many?) people who filed a complaint with Apple about this.

PayPal Credit would list a cheap rate on the Apple web site (something like no interest for 12 months and 12% after that), then when you got deep deep deep into the sign-up process, only if you clicked a tiny "more" disclosure button would you see that you were actually getting shafted with an entirely different interest rate and no free interest period.

It's so bad that you could actually display both of the rates on the same page, the lower one in big letters at the top, and the real rate at the bottom in tiny print. I sent a PDF of this to Apple.

When I called PayPal about it, the woman on the phone said there was nothing to be done, you have to pay the higher rate no matter what PayPal advertises on the Apple web site. When I went through the formal complaint appeals process my "claim" was "rejected" with no explanation.

I've been a PayPal customer for well over a decade. PayPal Credit isn't PayPal. it's a bank out of Atlanta. Maybe it's just licensed the name. I dunno.

Even today if you click the "view statement" link in the PayPal Credit section of your PayPal account it takes you to a redirect page that sends you back to the main PayPal page. There is no way to view your statement online. Smells very scammy to me.

I had the exact opposite experience with PayPal Credit. PayPal Credit let me know that I had six months no interest financing right at the point of purchase, and on their website stated the exact date that my promotional financing would end. I set up autopay, could choose the day of the month and the amount I wanted to pay monthly, to pay it off in full before the financing expiration date. It worked without a hitch. If you cannot see the view statement link, maybe you were looking at a phishing email? Go directly to PayPal.com and log in. And PayPal Credit does not force you to sign up for some lame credit card. AND PayPal credit purchases do not show up on your credit report, so it does not impact your credit card utilization % ! Barclays was double and triple charging me for everyday purchases, and I got so tired of calling them to correct their errors that I canceled the card.

And for those who worry about PayPal and FDIC insurance issues, you do not have to store a single penny of your money on PayPal. You can simply use it as a middleman for internet purchases, so if it went bellyup you would not lose any money.

Apple has made many good moves in these areas, e.g. their Apple Pay service is a win for consumers, Apple, and credit card companies. But forcing us to sign up for a lousy credit card to get special financing for apple products is not consumer friendly. Boo. Maybe Apple should create something called Apple Credit if they don't like PayPal Credit.

 

[usarioclave]

Right now I have three 0% Paypal Credit purchases outstanding, and the paypal credit site shows me the balances of each, accrued interest, and the payoff date to avoid the interest.

It's one of the clearest, most transparent financial sites I've used. And 0% interest is 0% interest, no matter how you slice it. Why spend your cash now instead of over time? If someone's crazy enough to allow you to finance on those terms, do it.

That said, I keep a 0 papal balance and have a dedicated bank account that's only used to link to Paypal. Any balances I transfer out of Paypal I transfer out of that bank account once it's cleared...because you never know with Paypal.

 

[KENESS]

Super lame. I've been keeping money in my PayPal account solely for the purpose of buying an iPad Pro.

This only applies to PayPal Credit... If you note in the article, you're still able to use PayPal to pay out of your PayPal balance or through accounts liked to your PayPal account, just not with PayPal Credit, which is an entirely separate credit extended by PayPal. (It used to be called BillMeLater.)

 

[Kebabselector]

I took advantage of the 0% paypal finance (looks like it's still available here in the UK) this year for a mac mini purchase (was a 2012 model in the refurb store - I couldn't wait!). Whilst it wasn't a bad method of working I found the Paypal experience something I had to manage rather than just let it take care of itself. I paid up early and closed the Paypal credit account.

The downside of Paypal credit in the UK (assume the service runs just the same elsewhere) was if you bought on ebay/paypal you had to make sure the purchase was coming off your Paypal account rather than the credit account - the purchases always defaulted to the credit account.

Maybe with all their billions Apple could create their own payment service.

 

[Flunkyturtle]

I took advantage of the 0% paypal finance (looks like it's still available here in the UK) this year for a mac mini purchase (was a 2012 model in the refurb store - I couldn't wait!). Whilst it wasn't a bad method of working I found the Paypal experience something I had to manage rather than just let it take care of itself. I paid up early and closed the Paypal credit account.

The downside of Paypal credit in the UK (assume the service runs just the same elsewhere) was if you bought on ebay/paypal you had to make sure the purchase was coming off your Paypal account rather than the credit account - the purchases always defaulted to the credit account.

Maybe with all their billions Apple could create their own payment service.

It's always shown 14.9% on the UK site for me? Not sure if it's only offered at 0% at certain times?

 

[Cheffy Dave]

Good. And long overdue. I'm one of the (many?) people who filed a complaint with Apple about this.

PayPal Credit would list a cheap rate on the Apple web site (something like no interest for 12 months and 12% after that), then when you got deep deep deep into the sign-up process, only if you clicked a tiny "more" disclosure button would you see that you were actually getting shafted with an entirely different interest rate and no free interest period.

It's so bad that you could actually display both of the rates on the same page, the lower one in big letters at the top, and the real rate at the bottom in tiny print. I sent a PDF of this to Apple.

When I called PayPal about it, the woman on the phone said there was nothing to be done, you have to pay the higher rate no matter what PayPal advertises on the Apple web site. When I went through the formal complaint appeals process my "claim" was "rejected" with no explanation.

I've been a PayPal customer for well over a decade. PayPal Credit isn't PayPal. it's a bank out of Atlanta. Maybe it's just licensed the name. I dunno.

Even today if you click the "view statement" link in the PayPal Credit section of your PayPal account it takes you to a redirect page that sends you back to the main PayPal page. There is no way to view your statement online. Smells very scammy to me.

Nice to know

 

[Kebabselector]

It's always shown 14.9% on the UK site for me? Not sure if it's only offered at 0% at certain times?

Occasionally the Apple UK store offers 0% finance, previously it was via Barclays - the last time it was available it was I think by both Paypal and Barclays. Chances are it'll be on offer again just before a number of upgrades!

 

[macnewbie91]

I remember getting my first Apple Barclaycard... Biggest mistake of my life. 24% interest rate, a $7,400 balance, a late payment ding on my credit report, and no rewards.

I was young and dumb back then. Can't wait to get a loan next year to take out that credit card.

 

[jimmirehman]

Why would you want to? There's no reason to keep money in a PayPal account. I keep my balance at zero. If I need to send someone money, I transfer from my bank (and with a CC backup source, it's instant). If I receive money, I immediately transfer back to my bank.

Paypal is not considered a bank by the government, so none of the banking regulations to help protect consumers (or what little there are) apply to them. I don't even think they're FDIC insured, so if Paypal goes bellyup overnight, you are SOL.

i've been with paypal since the late 90's, i've had over 100k in it without any issues ever.

 

[SilverStreakRay]

Wow. I wouldn't have suspected this to be the reason. That sucks about PayPal, a company that I like as a user and a merchant. Bad PayPal! Good Apple.

I have been viewing my PayPalCredit account/purchase summaries online since 2013...?