PayPal Visa Credit Card

By: EconomyWatch   Date: 6 October 2010

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Introduction to Pay Pal Visa Credit Card

Pay Pal Visa Credit Cards are issued by Providian National Bank and comes in four types. All of these cards come with zero liability protection . So, holders of any of these cards are not required to pay for any unauthorized purchase by their card. Cardholders are not required to pay any annual fee for using any of these Pay Pal Visa Credit Cards. But each of these cards has some special features as follows:

Pay Pal Visa Premium Credit Card

  • Annual Percentage Rate is 0% for first three billing cycles from the date of account opening. But, this is an introductory offer. After three months APR will vary. The APR will be determined by adding 2.99% to the Prime Rate. Prime Rate is published in the Wall Street Journal on the first business day of the calendar month. Generally, APR for Pay Pal Visa Premium Credit Card after initial three months is 9.99%.
  • Credit Card Balance Calculation is done by “Average Daily Balance” method.
  • Cash Advance Fee is 3% of the cash advance amount, but the minimum fee is $5.
  • Grace Period is at generally 25 days if the new balance is fully paid.
  • Customer's initial credit limit will be $5000 which can be used for purchases, balance transfers and cash advances. But, balance transfer from other cards can raise the credit limit up to $25000. But, the final credit limit will be determined by considering the transfer amount, the account balance at the time of transfer and the past credit record of the customer.

Pay Pal Visa Prestige Credit Card

  • Annual Percentage Rate is 0% for first two billing cycles from the date of account opening. But, after two months, variable APR will be applicable. Generally, the APR after initial two months is 16.99% for Pay Pal Visa Prestige Credit Card.
  • Credit limit for Pay Pal Visa Prestige Credit Cardholders will be $2000. Out of this total credit limit cardholders can use $200 for cash advance purposes. But, the credit limit can increase automatically depending up on the credit performance and account usage of the customer.
  • Other attributes like grace period, cash advance fee and balance calculation method for the Pay Pal Visa Prestige Credit Card are same as of the Pay Pal Visa Premium Credit Card.
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Pay Pal Visa Preferred Credit Card

  • Annual Percentage Rate is initially fixed at 0% which is valid for two billing cycles. After two months this introductory APR gets over and variable APR is applied. After two initial months the APR for Pay Pal Visa Preferred Credit Card is generally 19.99%.
  • The initial credit limit available for this card is $1000. Out of this total credit limit, cardholders can use $200 for cash advance purposes. But, the available credit limit can increase depending up on the credit record and account usage of the customers.
  • The other attributes like grace period, cash advance fee and balance calculation method for the Pay Pal Visa Preferred Credit Card is same as of the other two cards discussed above.

Pay Pal Visa Premier Credit Card

  • After initial two month's 0% APR the APR becomes 23.99% in general.
  • Initial credit limit is $1000. Initially, the cardholders can use 50% of total credit limit for cash advance purposes. Afterwards they can use more for cash advances depending on the account performances reflected in the statement. Total credit limit can also increase on the basis of credit performance.
  • Other all attributes related to the Pay Pal Visa Premier Credit Card is same as of the other three cards.
  • Find out more about Paypal Visa Credit Card.

 

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