PayPal currently has a “Pay Later” option (Pay in 4 and Pay Monthly), which I typically advise against due to its nature as consumer debt, similar to Klarna and Afterpay. However, they are now offering a limited-time promotion that provides many users with 20% off, up to $250 on a $1,250 purchase. You can find this offer by logging into PayPal.com and checking under “Rewards,” or through the PayPal app. Remember, you must opt-in and save the offer before making a purchase. This offer is set to expire very soon—specifically, on December 2nd at 11:59 PM PST. Here’s a screenshot from my account for reference.
Numerous major retailers accept PayPal for checkout, including Target, Best Buy, eBay, and Macy’s.
It’s entirely possible to purchase $1,250 in gift cards from retailers like Best Buy or Target. Many gift cards are already offered at a discounted rate.
For instance, I purchased 3 x $200, 3 x $100, 3 x $75, 3 x $50, and 3 x $25 in Amazon digital gift cards ($1,125 total) through Best Buy using PayPal’s “Pay in 4” option. You could make up the maximum amount by buying additional gift cards, such as those for Apple. For example, a $200 Macy’s gift card is already discounted to $170 at Best Buy, and applying the 20% discount would bring the price down by an additional $40. Additionally, consider Airbnb gift cards at Target, where you receive a $25 bonus gift card with the purchase of a $250 gift card, which can further stack with the PayPal promotion.
It took about 30 minutes after purchase for the digital gift card codes to be sent to me, and my PayPal rewards also showed as “Pending” during this period. There were no interest charges or additional fees for this purchase, provided I make the four payments on time. For example, a $1,000 purchase would be divided into four payments of $250 each.
The terms indicate that only a soft credit check will be conducted, which won’t impact your credit score. I plan to pay off this purchase without issue. Special thanks to Dansdeals for the heads-up!
20% cash back on one Pay Later purchase with PayPal.
Limited time offer. Terms and exclusions apply.1. Save the offer below.
2. Buy now and pay later with PayPal at participating retailers (subject to availability).
3. For a limited time, get 20% cash back on one eligible Pay Later purchase until December 2nd at 11:59 PM PST.Earn 20% on a maximum spend of $1,250 in a single transaction. Limited to 2 billion points available.
When applying for PayPal Pay Later options, a soft credit check may be required, but it will not affect your credit score. You must be at least 18 years old to apply for Pay Later.
