How to Use PayPal’s Bill Me Later “Pay in 4” to Pay Your Bill Over Time

PayPal’s “Bill Me Later” service, now called Pay in 4 allows you to split purchases into 4 interest-free payments over 6 weeks. It’s a flexible way to buy now and pay your bill later.

In this comprehensive guide, we’ll explain exactly how Pay in 4 works, its benefits, eligibility requirements, fees, and tips for using it responsibly

By the end, you’ll understand everything you need to know to use PayPal’s Bill Me Later “Pay in 4” option when checking out online. Let’s dive in!

What is PayPal’s Bill Me Later “Pay in 4” Service?

PayPal’s Bill Me Later, now rebranded as Pay in 4, enables you to split payments for online purchases into 4 equal installments over 6 weeks. Here are the key details:

• Available for purchases $30 – $1500

• Transactions are split into 4 bi-weekly payments

• 0% APR and no interest

• No late fees or sign up fees

• Payments deducted from debit card, credit card, bank account

• Can use at millions of online stores that accept PayPal

Pay in 4 provides flexible financing to buy now and comfortably pay the bill later in a few installments. Now let’s look at the benefits it offers.

The Benefits of Using PayPal’s Pay in 4

Here are some of the main advantages of using PayPal’s Pay in 4 Bill Me Later installment option:

• Delay payments – Buy now, pay over 6 weeks in 4 installments

• 0% interest – No interest fees or extra costs

• Improved cash flow – Spread out payments to manage bills

• Split large purchases – Break up bigger purchases for affordability

• Simple application – Get approved in seconds with soft credit check

• Available anywhere – Use Pay in 4 at millions of online merchants

• Manageable payments – Affordable bi-weekly amounts

• No late fees – Always interest and fee free

For flexibility and simplicity when buying online, PayPal’s Pay in 4 Bill Me Later is an excellent option. Next, let’s look at eligibility.

Am I Eligible to Use Pay in 4?

Here are the basic eligibility requirements to apply for PayPal’s Pay in 4 Bill Me Later at checkout:

• 18 years or older

• Valid PayPal account

• U.S. resident with a U.S. address

• Debit/credit card, bank account, or PayPal balance to make payments

• Purchase amount between $30 – $1500

When you apply, PayPal will conduct a soft credit check that won’t hurt your credit score. Approvals are given within seconds.

As long as you meet the criteria above, you can likely use Pay in 4 for flexible online purchases.

How Do Late Fees and Interest Work with Pay in 4?

A major benefit of PayPal’s Pay in 4 Bill Me Later service is that it is completely free of interest and late fees.

• 0% APR – No interest charged on the 4 installments

• No late fees – Payments have fixed due dates but no penalty fees

As long as you make the 4 payments on schedule every 2 weeks, you pay no extra costs. Pay in 4 is always interest and fee free.

Step-by-Step Guide to Using Pay in 4

Here is a step-by-step walkthrough of using PayPal’s Pay in 4 Bill Me Later at checkout:

1. Add items to cart at eligible online merchant

2. Proceed to checkout and select PayPal as the payment method

3. When prompted, choose Pay in 4 as the PayPal payment option

4. Review purchase details and confirm Pay in 4 is interest and fee free

5. Click “Apply Now” and fill in your information for the soft credit check

6. Get approved (or denied) within seconds

7. If approved, complete the transaction using Pay in 4

8. You’ll receive a confirmation email with your 4 payment dates

9. Payments will automatically deduct from your chosen source

And that’s it! The 4 installments are managed completely through PayPal in the background.

Tips for Using PayPal’s Pay in 4 Responsibly

To make the most of PayPal’s Pay in 4 Bill Me Later option, here are some best practices:

• Make sure you have the funds available to cover the 4 installments

• Use it only for purchases you can comfortably afford

• Avoid paying late as it may impact your PayPal standing

• Set payment reminders so you don’t forget the bi-weekly dues

• Pay off full balance early if possible to minimize fees

• Use for essentials or high-value purchases rather than small impulse buys

• Review payment schedule upfront so amounts and dates are clear

When used wisely, Pay in 4 can be a budget-friendly financing option. But be sure to borrow within your means.

Can I Use Pay in 4 for In-Store Purchases?

Currently, PayPal’s Pay in 4 Bill Me Later installment option is only available for online ecommerce purchases. It does not work for in-person transactions in physical stores.

You must shop online at one of the millions of merchants that accept PayPal online to use Pay in 4 at checkout. PayPal is working on expanding to in-store POS purchases in the future.

What Other PayPal Bill Me Later Options Exist?

In addition to Pay in 4, PayPal also offers:

• Pay Monthly – 3, 6, 12 or 24 monthly payments at fixed interest rate
• PayPal Credit – Revolving credit line with varying promotional offers

Pay Monthly works similarly to Pay in 4 but with monthly payments for larger purchases. PayPal Credit acts more like a credit card in allowing revolving credit.

Pay in 4 is the only PayPal Bill Me Later option that has 0% APR and no interest or fees. The others charge interest and fees like traditional financing tools.

PayPal Bill Me Later Offers Flexible Financing

PayPal’s Pay in 4 “Bill Me Later” installment payments allow you to buy online now and spread out the payments interest-free over 6 weeks in 4 bi-weekly increments. It’s an affordable way to finance larger online purchases while improving your cash flow.

Just remember to borrow responsibly within your budget. Avoid paying late, set reminders, and pay off early if possible. Used wisely, Pay in 4 can provide flexible, fee-free financing on your online shopping.