Pay in 4 with PayPal

What Is PayPal Pay in 4?

PayPal Pay in 4 is a payment option that lets you split purchases you make at participating online stores into four payments. You pay a down payment at the time of sale and then one payment every two weeks for the next six weeks, for a total financing period of six weeks.

How Does Pay in 4 Work?

When you check out, choose PayPal and select the “Pay Later” option. That will let you pick the “Pay in 4” way to pay. You will be given a link to the loan agreement to review and agree to before submitting your application. You’ll also get an email from PayPal with the details of your plan once the purchase is complete.

When you attempt to check out, PayPal will automatically make an approval decision in seconds so you can complete your purchase right away.

To complete your purchase, you’ll have to pay the first payment as a down payment. The rest of the purchase amount is split into three interest-free payments, with one due every two weeks. You can manage and make payments either online or via the PayPal app, available on iOS and Android.

If you are declined for the plan, you can still use PayPal to pay; you’ll just need to pick a different payment method from your wallet. PayPal will send you an email stating the reason you were declined.

Does Pay in 4 Charge Fees?

There are no fees to use Pay in 4. Payments are interest-free. However, PayPal may charge a late fee if you are late with a payment, depending on your state of residence.

Does Pay in 4 Affect Your Credit Score?

PayPal may perform a soft check on your credit when you apply for Pay in 4, but this will not affect your score.

A soft credit check  gives the lender the ability to review your credit report and determine creditworthiness. While these soft checks don’t affect your credit score, they are listed on your credit report.