£0 toward your Promotional Offer 2 (watch).

£0 toward your Promotional Offer 1 (sunglasses).

A balance of £80 for the purchase of clothes does not qualify for a promotional offer of 0% (less than £99) or an instalment plan so this is a standard variable rate balance. A standard balance is made up of standard purchases of goods and services you make using PayPal Credit that are not promotional balances.

£0 toward your standard variable rate balance as you are not repaying a standard balance for this statement period.

You would still be required to make a repayment toward the camera purchase in the following month but the instalment plan would end earlier than 30th October. If the balance owed on the camera was £250, we would allocate £22.90 plus £67.10 toward repaying this, resulting in the balance the following month being reduced to £160. This will NOT reduce monthly instalments due going forward but will shorten the duration of your plan so that it will end sooner. This is because any amount in excess of the minimum monthly payment due is used to repay that remaining instalment balance.

Entire £67.10 allocated to Instalment Plan 1 (the camera at 9.9% p.a.).

From your £100 payment, £32.90 is allocated to the minimum due payment, which leaves £67.10 to be allocated to the above balances as explained here: You decide to pay £100, which is more than the minimum payment due but less than the full balance. This is the Instalment Plan 1 monthly amount due plus 2% of each Promotional Offer balance. The minimum payment due assuming no interest or charges have been applied is £32.90. for 4 months expiring on 30th July (Promotional Offer 2) for 12 months expiring 30th October (Instalment Plan 1) for 4 months expiring on 30th June (Promotional Offer 1) On your May statement, you have a balance of £750 which comprises the following purchases: interest for 4 months purchases, one expiring in June and one in September) repayments are allocated based on the expiry date, with the soonest to expire being repaid first. If you have two or more instalment plans with the same interest rate or two or more promotional offers (for example two 0% p.a.

Toward any other balances shown on your statement.

interest for 4 months on purchases over £99, that is yet to expire or the balance of an instalment plan then

Toward any promotional offer balance: this could be your 0% p.a.

Toward balances that are subject to the standard variable interest rate (interest and fees on your statement are paid off before any principal) then.

If you have more than one instalment offer plan, our system will repay the plan with the highest interest rate first followed by the plan(s) at a lower interest rate(s) then Toward any monthly payment due on an instalment plan.This is to your advantage as it means you pay less interest overall across all of your PayPal purchases.Īssuming you are up to date with your repayments from previous billing periods, we apply your payment first toward the minimum amount due in your statement and then any additional amount left is allocated as follows: While you cannot select which purchases to pay off first, our system is designed to automatically apply your repayments to purchases with the highest interest rate first whilst also ensuring that any instalment offer plans are repaid within the term of the plan.

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