PayPal Holdings, Inc. Credit Card Complaint

Transaction issue

PayPal Holdings, Inc. Credit card department,

Transaction issue Maryland

I have an account with PayPal that involves promotional purchases in which interest is not payable if you pay the charged balance within the promotional period, in this case 6 months. In reviewing my account upon making a payment today ( -/-/- ) I discovered that a charge in the amount of $360.00 in - - did not have any portion of my payments since the purchase applied to reduce the outstanding balance, thus leaving the balance as of today the same as it was in -. In speaking with a PayPal representative ( who was very helpful and cordial ), I was informed that $230.00 of my previous monthly payments should have been allocated to this purchase to reduce the outstanding balance to $120.00. She explained that it appears that a system processing error occurred which did not automatically allocate my payments to reduce the balance. In order to avoid paying the accrued interest for the purchase ( $35.00 ) I had to immediately make an additional payment of $120.00 since the promotion payment period expired tomorrow ( -/-/- ). I had already made a payment of $150.00 on my account.

PayPal Holdings, Inc. customer in Maryland
Jul 08, 2016

* Source: CFPB Complaint Database

PayPal Holdings, Inc. response to complaint:
Closed with explanation

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