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PayPal's New Credit Card Offers Interest-Free Financing for Travel. But Watch Out for This Pitfall

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The financing offer may be tempting, but you won't earn rewards.
PayPal's new credit card, launched in partnership with Synchrony, offers interest-free financing for travel purchases, allowing cardholders to pay over time without accruing interest if the balance is paid off within a specified period. The card provides 3% cash back on PayPal purchases, 2% on other travel bookings, and 1% on all other purchases, with no annual fee. However, a significant pitfall to watch out for is the high deferred interest rate of up to 29.99% that applies retroactively if the balance is not paid off in full by the end of the promotional period, which could lead to unexpectedly high costs for those unable to clear the balance in time.

Read the Full CNET Article at:
[ https://www.cnet.com/personal-finance/paypals-new-credit-card-offers-interest-free-financing-for-travel-but-watch-out-for-this-pitfall/ ]