PayPal Holdings, Inc. Credit Card Complaint

PayPal Holdings, Inc. Credit card department,

APR or interest rate Alaska

This letter is to file a complaint with PayPal as well as the Consumer Financial Protection Bureau concerning PayPal 's policy of allocating refunds on purchases to the general balance instead of applying directly to the cancelled charge. This has happened to my account twice in the last two months. The first incident was on my statement of -/-/16 for a charge of $210.00 to - on -/-/16 that was refunded on -/-/16 by - for $210.00. In this instance I was charged $22.00 in interest on an amount that had been refunded. I would like that $22.00 refunded as a credit on my account. Note that for some reason the charge is shown as $210.00 on my Statement, but online it is correctly shown as $210.00 for both the charge and the refund. The second incident was on my statement of -/-/16 for a charge of $230.00 to - on -/-/16 that was immediately refunded that same day by - for $230.00. In this instance I was charged $26.00 in interest on an amount that had been refunded. I would like that $26.00


Please note that I 've already scheduled a payment of $620.00 for -/-/16 which will alleviate any interest charges as noted on my Statement of -/-/16. Of that amount paid, $340.00 was a charge from - from a charge on -/-/16 which was refunded three days later on -/-/16 in - amounts of $110.00 for a total of $340.00. The application of a refund amount to the overall balance is confusing to the client and I believe to be a dishonest and unlawful practice. I believe that when a refund is made on a specific order or payment that it should be credited to that order or payment. What PayPal is doing is deceitful and that is why I have sent a copy of this letter along with the statements and listing of charges to the Consumer Financial Protection Bureau as a formal complaint against PayPal. I hereby request that you refund a total of $49.00 in alleged interest charges and case and desist this despicable practice of charging interest on refunded amounts.