PayPal offers a “Pay Later” option (Pay in 4 and Pay Monthly), which I would normally tell you to avoid at all costs because it’s just consumer debt in yet another package like Klarna and Afterpay, but right now they are offering many people a 20% off promo, worth up to $250 off a $1,250 purchase. You can look for this offer either online at PayPal.com under “Rewards” after logging in, or in your PayPal app. Importantly, you must opt-in and “save” the offer first before making a purchase. This expires very soon, mine says 12/2 at December 2nd 11:59PM PST. Here is a screenshot from my account.
Many major retailers allow you to check out via PayPal, including Target, Best Buy, eBay, Macy’s, B&H.
Indeed, I don’t see why you couldn’t buy $1,250 in gift cards from Best Buy or gift cards from Target, and so on. Many of the gift cards are already discounted.
I was able to buy 3 x $200, 3 x $100, 3 x $75, and 3 x $50, and 3 x $25 in Amazon digital gift cards ($1,125 total) from Best Buy and checking out using PayPal “Pay in 4”. You could also round out the max by buying other assorted gift cards, like Apple. For example, a $200 Macy’s gift card was already discounted to $170 at Best Buy, which 20% off would take off another $40. I was also thinking about Airbnb gift cards at Target, where you also get a $25 bonus gift card with $250 Airbnb gift card purchase, which you could then stack with the PayPal 20% off.
It took about 30 minutes after purchase for the digital gift card codes to arrive. My PayPal rewards also showed up as “Pending” in that timeframe. There was no interest charge or additional fees on this purchase, assuming I make the four payments on time. For example, a $1,000 purchase would have been broken up into four payments of $250.
The terms state that there will only be a soft credit check, so no effect on your credit score. Of course, I expect to pay off this purchase Hat tip to Dansdeals.
20% cash back on one Pay Later purchase with PayPal
Limited time. Terms and exclusions apply.1. Save the offer below.
2. Buy now, pay later with PayPal at your favorite stores. Subject to availability
3. For a limited time, get 20% cash back on one eligible Pay Later purchase through December 2nd 11:59PM PSTGet 20% on up to max $1,250 spend on a single transaction. Up to 2B points available
When applying for PayPal Pay Later solutions, a soft credit check may be needed, but will not affect your credit score. You must be 18 years old or older when applying for Pay Later.