What happens after I make a request for a further payment holiday? If you're on a payment holiday and don’t restart payments when they’re due after it ends, this could affect your credit score.Although taking a payment holiday won't have a negative impact on your credit score, it's important to know that this may be taken into account by lenders when they’re making future lending decisions.Will my credit score be negatively impacted by my payment holiday? Interest will accrue and be payable once the payment holiday comes to an end. If you're on a payment holiday, any instalment offers will be extended for the duration of the payment holiday and will resume as normal once it ends.If any expire during this period, the offer will end and the balance will move to the standard variable rate. Any 0% for 4 months offer that may currently apply will continue during the payment holiday period.You can continue to use your PayPal Credit account as normal, up to your credit limit.How does a payment holiday impact the use of my PayPal Credit account? Your minimum payment will become due and payable on the date displayed on your first statement after your payment holiday ends. Once the payment holiday ends, your account will resume to function as usual, in line with your PayPal Credit agreement.This will increase the overall balance due so your minimum monthly repayments will be higher after the payment holiday ends. Interest will accrue during the payment holiday period and will be charged when your repayments begin again.You won't be charged any fee for taking a payment holiday.Will I be charged a fee and interest during the payment holiday? For more information, see the other links at the bottom of this page.

To help you decide if a payment holiday continues to be right for you, You may wish to take free and impartical debt advice, such as can be found here.

Please note that interest will be accrued during this time and will be charged when your repayments begin again.

Alternatively, if a payment holiday is considered right for you, then you won't have to pay during the agreed period.

If a payment plan is chosen, your payments will be in line with the new arrangement.

Partial monthly payments may be the right solution as this will reduce the balance and the overall amount of interest you'll need to pay.

We'll need to assess and agree with you whether a further payment holiday is in your best interests.

Covid -19 payment holidays are now only available for payments which would normally be due before 31st July.

Is taking a payment holiday right for me? If you are currently on a Covid-19 payment holiday and would like us to consider providing a further payment holiday, carefully read the information below to understand if a payment deferral continues to be right for you. If you feel you need to speak to a team member, call 08 but please be aware that wait times may be longer than normal in the current circumstances. If you need to get in touch with our team, you can message us. Following this process is likely to be the fastest way to access the right assistance for you. Our employees are working as fast as possible to process your application, but due to the current challenging circumstances please be patient if it takes us a little longer to respond. You may also wish to take free and impartial debt advice, such as can be found here. If you are having financial difficulties as a result of Covid-19 but are not currently on a payment holiday, please contact us as explained above so that we can consider what other support may be appropriate for you.

Please note that from 1st April, payment holidays are only available to customers who are already on a payment holiday and would like us to consider providing a further payment holiday. Scroll down to the bottom of the page and click Email us.Select ‘PayPal Credit’, then ‘Covid-19 payment holiday deferral’.To better understand how we can help you, we’ll first need to assess your situation and your individual requirements. To do this, please follow the instructions below: If your finances are impacted by Covid-19 or you had a payment holiday on your PayPal Credit account which is coming to an end but you’re still having financial difficulties as a result of Covid-19, we may be able to provide you additional assistance in managing your PayPal Credit repayments. Covid-19 - I need assistance with repaying my PayPal Credit account, what should I do?

Paypal credit