I attempted a balance transfer intitaion using Paypal credit as the creditor, but it was not reconized. Then I noticed that when talking with a chat agent the company that came up was Synchrony, and that was verified by the new card. Has anyone had success completing a balance transfer under the Synchrony name with your Paypal credit account number. I initiated it with the new card, and just curious, if that work around "worked" for anyone.

As many of you already know PayPal has a Credit service with Synchrony Bank. They have this cute promotional offer most of the time which is 0% interest on a purchase for either 6 months, 12 months, or sometimes even up to 24 months. Here's the challenge and where it becomes extremely shady as a business that i heavily urge everyone to be extremely cautious of, and don't use if at all possible:

1. When making multiple "Promotional Offer" purchases, they abide by a "First In, First Out" (FIFO) type of method. What that means is, if say you have 3 purchases. Purchase 1 was for 12 months, purchase 2 and 3 were for 6 months. ANY payments made to your account will ONLY go towards purchase 1. If you're making the typical payments as you should to pay it off gradually over 12 months, you'll soon find yourself in a very awkward position (assuming you see it). Either pay off purchase 2 and 3 completely in cash by month 6, or, get hit with accumulated interest costs which they won't tell you about.

2. Some of you may already know this, many don't. Interest is being accumulated as mentioned above. It's 0% assuming you pay off that specific charge within the timeframe. However, if you don't or you're caught in the shady trap mentioned in #1, you'll be instead hit with the full accumulated interest over the last 6, 12, or 24 months.. Generally at 30% APR which is massive and usually a big interest cost. I've personally had several months of payments completely wiped out in interest from example in #1, stacked offers and esp with different timeframes.

3. They're not upfront about #1. IF you follow the typical method of making the recommended payment it WILL guide you into massive interest costs. This may not be the case if you've made only 1 purchase. It's the case primarily in multiple promotional offers stacked.

4. At least in my personal experience, they've recently made some changes to their platform where i was completely unable to see any of the purchases i was being charged for via promotional offers. All they would tell me is i somehow owed them $X, both in their platform as well as in the detailed statements. No vendor, No nothing... just give us X money

I'd strongly advise anyone from using this service at all in its current state. They don't make any money from 0% interest... it's strategically setup in such a way where it screws you, if you don't know this small details about how the service functions.

Beware.