PayPal Credit, formerly known as Bill Me Later, is a convenient payment option that allows users to pay for purchases over time. When it comes to booking airfare, PayPal Credit can be a useful tool for managing expenses, especially for travelers who need to book flights in advance but may not have the funds available at the time of purchase. In this guide, we will explore the ins and outs of using PayPal Credit for airfare, including the benefits, limitations, and tips for getting the most out of this payment option.
How PayPal Credit Works for Airfare
PayPal Credit is a line of credit that can be used to make purchases online, including airfare. When you use PayPal Credit to book a flight, you are essentially taking out a loan from PayPal to cover the cost of the ticket. The loan is then repaid over time, with interest accruing on the outstanding balance. The interest rate for PayPal Credit is currently 19.99% APR, although this rate is subject to change. It’s essential to note that PayPal Credit is only available for purchases made through PayPal, and not all airlines or online travel agencies accept PayPal Credit as a payment option.
Benefits of Using PayPal Credit for Airfare
There are several benefits to using PayPal Credit for airfare, including:
- No foreign transaction fees: PayPal Credit does not charge foreign transaction fees, making it a great option for international travel.
- Flexibility: PayPal Credit allows you to pay for your airfare over time, which can be helpful for travelers who need to book flights in advance but may not have the funds available at the time of purchase.
- Easy application process: Applying for PayPal Credit is a straightforward process that can be completed online in just a few minutes.
Limitations of Using PayPal Credit for Airfare
While PayPal Credit can be a useful tool for managing airfare expenses, there are some limitations to consider, including:
- Interest rates: The interest rate for PayPal Credit is 19.99% APR, which can add up quickly if you don’t pay off your balance in full each month.
- Late fees: If you miss a payment or are late with a payment, you may be charged a late fee, which can range from 25 to 35.
- Not all airlines accept PayPal Credit: Not all airlines or online travel agencies accept PayPal Credit as a payment option, so it’s essential to check before booking your flight.
| Airline | Accepts PayPal Credit |
|---|---|
| American Airlines | Yes |
| Delta Air Lines | Yes |
| United Airlines | Yes |
| Southwest Airlines | No |
Tips for Using PayPal Credit for Airfare
To get the most out of PayPal Credit for airfare, consider the following tips:
- Check the interest rate: Before using PayPal Credit, make sure you understand the interest rate and how it will affect your payments.
- Read the terms and conditions: Carefully review the terms and conditions of PayPal Credit before applying, including the interest rate, late fees, and repayment terms.
- Make timely payments: Make sure to make your payments on time to avoid late fees and interest charges.
Repayment Options
PayPal Credit offers several repayment options, including:
- Pay in full: You can pay off your balance in full each month to avoid interest charges.
- Minimum payment: You can make the minimum payment each month, which will be the greater of $25 or 2% of the outstanding balance.
- Fixed payments: You can set up fixed payments each month, which will be the same amount each month until your balance is paid in full.
What is the interest rate for PayPal Credit?
+The interest rate for PayPal Credit is currently 19.99% APR, although this rate is subject to change.
Can I use PayPal Credit for international travel?
+Yes, you can use PayPal Credit for international travel, and there are no foreign transaction fees.
How do I apply for PayPal Credit?
+You can apply for PayPal Credit online through the PayPal website. The application process is straightforward and can be completed in just a few minutes.
