Free money is over boys and girls...
Abuelo
Posts: 1,907 ✭✭✭✭✭
For the longest (as far as I can remember), PayPal use to offer this 0% interest on 12-24 months purchases on eBay. Well, no more. I got an email this morning offering an incredible "Get 2.99% APR for 12 or 24 Easy Payments on eBay". So that is it. No more free money... First, they messed up the eBay bucks, now no more interest free purchases. Such is life.
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Does Paypal offer interest on your Paypal balance?
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
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It does not @Cameonut (but I cannot imagine a reason to have much of a balance there).
In business, profit must be made, or the business dies. In a large business, shareholders must also be paid. Therefore, structure, fees will change to bring in more cash. Cheers, RickO
The 2.99% APR might sound good ... until you remember what your bank is paying you for your interest bearing checking account. If you can't buy a hobby item for cash right now don't buy it at all.
Who are they? PayPal is not eBay.
All comments reflect the opinion of the author, even when irrefutably accurate.
E bay been on a dowward spiral for sometime now...it started years ago when they decieded to make it mandatory to link a bank account or SS number.
At that time if you didn't do as asked ebay and paypal could hold your payment for a sold item up to 6 months! This action caused a lot of sellers to stop selling.
How and the hell can one make any profits when even after shipping, and recieved item was given feed back.
Maybe not in my time left, but I see ebay pricing ,and regulations will take the company down.
Last week I purchased a Farthing from a Canadian seller...explaine to me how someone can make a profit on a < $5.00 coin with an exchange rate,and free postage?
Years ago before ebay got crazy with new rules and higher fees I was a power seller with a e bay store.
When they got so greedy ,wanting the seller to take all the risk ,and cut a seller profits to almost nothing I said good by.... and haven't made or sold on e bay since...i did however enter a class action suit against them....and won.
"That's why I wander and follow La Vie Dansante"
Ebay needs some LEGITIMATE competition.
...explaine to me how someone can make a profit on a < $5.00 coin with an exchange rate,and free postage?
He's building feedback.
PayPal credit card gives me 6 months at 0% interest to pay off my balance.
Confused by comments that think a decision by a company (PayPal) is a reflection on a completely different company (eBay). .. eBay sold off PayPal 6 years ago.
...considering the guys that started PayPal were/are way higher than me, none of this is surprising
Now I would love to hear the details of the Class Action Lawsuit!
It wasn't anything to talk about the lawyer's got most of the settlement and the rest wasnt anything to talk about. Basically a group went after ebay on policies changes who were sellers or store owners. After all the smoke it wasn't worth the troubles.... I have a very bad taste for lawyers....if you ever need one pick up a rock or log...as snakes tend to hide under them!
"That's why I wander and follow La Vie Dansante"
Agree completely. People still tie them together.
All comments reflect the opinion of the author, even when irrefutably accurate.
To be fair, and I don’t know the specific arrangements in this case, it is usually the retailer that pays for the no interest offers in these cases, not the finance company.
Most likely this one is on eBay, not PayPal.
Most of my dealing on ebay the 2 ebay and paypal were one..... and even made it impossible to accept a payment by check, Money order, or other means than paypal.
Again another reason i closed my store and gave ebay a one finger salute!
As they kept making it harder and harder to make any profit.
Then they more or less stripped the seller of any recourse dealing with a scammer buyer.
"That's why I wander and follow La Vie Dansante"
Hadn't even noticed because I haven't bought anything recently due to crazy premiums. Sure enough just checked and only offers are 2.99% 12/24 months. I also used to use Paypal for online orders at Lowes, Walmart etc. They don't even offer the pay by paypal option anymore.
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The retailer may pay a promotional fee, but the interest is collected by PayPal. Usually, such a credit card arrangement as this or even many retailer offers with their own cards are designed to get you to the borrow the money because X% of the people will not pay it back in time. In that case, the much higher finance rate kicks in and that's how they make money.
All comments reflect the opinion of the author, even when irrefutably accurate.
Yes, I know how it works. Of course PayPal is the one who collects interest. Doesn’t change the fact that eBay pays PayPal a fee to offer special financing. It is not PayPal that wakes up one day and decides to offer 0% interest on purchases at a eBay.
Who borrows money these days?
Z
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I> @HalfDimeDude said:
If lawyers are so bad, why didn’t you do it yourself?
Well for one ...Im not a snake! And besides I didnt start the action just got sucked into it...
"That's why I wander and follow La Vie Dansante"