How to Cancel Paypal Credit


I hate Paypal Credit and apparently I'm not alone. The Consumer Financial Protection Bureau is suing Paypal Credit for deceptive practices. If you look online there are horror stories from people like me who had a bad experience with a service they didn't want or sign up for.

I've been with Paypal since it was x.com – a long time. I'm so mad I'm not even going to capitalize the Pal part. They aren't my pal. I feel like they've gotten so aggressive. I wish there was a better alternative. Paypal is so easy to use but so hard to quit because they're everywhere and hooked up to everything.





My experience, like many others, is that I suddenly had a Paypal Credit account. It's a line of credit that I have no recollection of signing up for and don't need. One day I was paying people with my Paypal balance and somehow it used my credit instead of my balance. I didn't notice until I had interest and a $25 late fee!  And the interest rate is not cheap – it's 19.99%APR. That makes it the highest interest rate credit I have. My credit card is not even 7%!

So I really want to cancel Paypal Credit. Guess what? You cannot cancel Paypal Credit online. Yes, they can sign you up without you knowing it online but you have to call them to cancel. I forget to call during business hours so I just fume when I get an email from them.

I really can't stand businesses that make you call to cancel anything. Especially when it's an internet-based company. It means you'll get a sales pitch as they try to keep you from canceling.

So here's my next step: remembering to close the account forever.

How to Cancel Paypal Credit

Here's how to cancel Paypal Credit:

Call Customer Service at 866-528-3733 7 AM to 1 AM ET Monday-Friday, and 9 AM to 11 PM ET Saturday-Sunday.

You can also send us a letter (including your account number) to:

PayPal Credit
P.O. Box 5018
Timonium, MD 21094

Here's how to find your account number:

  1.     Log in to your PayPal account.
  2.     Click the Summary tab.
  3.     Click PayPal Credit.
  4.     Click View Statements.
  5.     Click a statement cycle date to view transactions from that billing cycle.
  6.     Once a cycle is selected you can download that full statement by clicking the Full Statement PDF icon on the left.
  7.     Your account number will be located in the upper left hand corner of your full statement.

Hope this helps. I hope they change so you can cancel your Paypal Credit account online. In the meantime, I want to help everyone who wants to, cancel their Paypal Credit account. I'm not sure why you'd keep it. Wish me luck when I call tomorrow!


7 Comments
  1. K Evans October 24, 2015
  2. Janet Thaeler October 24, 2015
  3. Nereida Vazquez March 21, 2017
  4. Janet Thaeler March 21, 2017
  5. N.Y. August 1, 2017
  6. Janet Thaeler August 1, 2017
  7. Dan January 26, 2022

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