| Buying on ebaY What Every eBay Buyer Should Know ebaY Search |
Have you seen eBay credit card offer when you proceed to buy certain items? Well all major stores offer buyers’ credit, easy installments programs etc. So eBay sensed that it is about time they come up with something similar. So to compete with more ‘traditional’ shops, eBay has started to offer finance agreements through PayPal for expensive items. There is an eBay credit card application for this and it takes less than a minute to for a decision. So, if the seller decides to offer it, you can now spread the cost of an item into affordable monthly payments. eBay credit card is good news for buyers, good news for sellers, and good for eBay. Buyers can get an eBay credit similar to agreements they’re used to in shops. Sellers can make their items more attractive to buyers who might not have all the money then and there, but eBay still pays the sellers upfront they don’t have to wait to be paid each month or anything like that. Buyers make their monthly payments to PayPal’s credit provider instead. Currently, The APR of the Buyer’s eBay Credit program is 12.9%. You can pay back $999 or more over 12 months, or $1,999 or more over 24 months. There are also interest-free options for purchases of $199 or more over 3, 6 or 12 months. The reason why some of these eBay credit offers sound better than others is that it is up to the seller to decide how good the credit offer should be and pay extra to PayPal to offer it. To give their buyer the best promotion, for example, of no interest for twelve months, the seller must pay 3.75% of the item’s cost to PayPal. Basically, this means that sellers pay less when the buyers pay interest, and sellers pay the cost of the interest on the interest-free offers. PayPal makes its interest either way, buyers are happy to get credit, and sellers are happy to sell more. How to get the eBay Credit?If the items are over $199, eBay Buyer’s Credit is now being automatically offered to buyers in the USA only. Just click the link when you buy something for more than $199 and you will be taken through the eBay credit application process, which includes a 30-second check on your credit history. Then you just go through the buying process as normal, and you get your item before you’ve paid a penny.Why are they offering eBay Credit Card?eBay say they want to “level the playing field”, to allow eBay businesses to compete with the big chain stores, and they also want to promote PayPal as a payment method. Relatively few buyers can afford the more expensive items on eBay all at once, and so the introduction of Buyer’s Credit seems likely to significantly increase prices and sales at the higher end of the market.It is worth noting that you can use eBay Credit anywhere PayPal is accepted, not only on eBay. PayPal say it’s - like a credit card – minus the card! You don’t get an eBay credit card number but you can pay with credit with just your email address and password. It all depends on your credit history. Now, login to your eBay account, find an item that is more than $200 and pretend that your are buying it. Here’s where you will come across the eBay credit card option. You can also see an eBay credit card application here. |
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