I've been looking into Litecoin Lately and couldn't find any easy option to buy it using a credit card or my Paypal account. Am I missing something or is it just not possible ?
Bitocin and Litecoin have the same problems when trying to buy them with funding methods that allow chargeback.This is mainly because of Paypal’s TOS (Section 3.7 here) and the fact that your can't chargeback Liteocin since it is considered as cash.
Having said that there are still a few ways you can buy Litecoin with Paypal or a credit card.
Use VirWox to buy SLL with Paypal and then transfer that SLL to BTC (has high comission, transaction can take between 1 hour to 2 days). After that transfer the BTC to either Vircurex or BTC-E and purchase Litecoins with them. Complete process explained here.
You can use Local Bitcoins and perhaps find someone in your area to sell you Bitcoins with cash or even someone not in your area to sell you Bitcoins with Paypal or a credit card and then use these Bitcoins to buy Litecoins at the same exchanges mentioned before.
If you’re only into trading Litecoins for their volatility and not actually keep them you can use platforms such as Plus500 to trade CFDs. However CFDs are for more experience traders and your capital is at risk so take that into account.
You can also buy Litecoins with Paypal or a credit card on Ebay. As long as they are sold with an actual physical product (meaning they are stored on a USB for example). Be ready to pay a high commission though since sellers have to insure themselves from soaring Litecoin prices.