In order to apply for a Bill Me Later account through PayPal, a customer should visit the PayPal website and apply for PayPal Credit by following the online application as PayPal Credit is the new name for the "Bill Me Later" credit line. The exact questions on the form may change at any given time.
The current PayPal Credit form, according to Business Insider as of 2014, asks for the applicant's Social Security number, the applicant's date of birth and then the result is instantaneous. The applicant is either approved or denied. Once approved, applicants are told what their line of credit availability is and are given the option to use their credit immediately. The new PayPal credit does differ slightly from the Bill Me Later days as it allows customers to pay for items over a select period of time in monthly payments as well as at once at the end of a particular time period.
PayPal Credit can be used at many different stores (although these must be online stores) and the credit allows customers as long as six months to pay back the credit. There is an APR attached to the card as with all credit payments, which is 19.99 percent as of 2014 and that does not include the late payment charges. Once a customer has been approved, it is up to the individual merchants to set the rules for how and when PayPal credit can be used.