"Paid in Full" received acclaim from music critics, who complimented the song's lyrics and production. British DJ and presenter of radio and television
Tim Westwood picked it as one of his favourites in 1995, adding, "This defines the sound of hip hop for years to come. Rakim was the greatest lyricist of all time. Incredible lyrics – they conjure up incredible imagery."
Rolling Stone magazine named "Paid in Full" the tenth greatest hip hop song of all time and number 132nd best song on their "Top 500 Best Songs of All Time". Rakim's wordplay was praised and comparisons were drawn to American jazz musician
John Coltrane: "[Rakim's] incandescent thought-bubble rap – barely a minute long – is all iced flow and sly beat-dodging, a good-vs.-evil meditation that calmly frames thug life inside real-life economics and a novelist's eye for detail." In 2022, the magazine ranked it number 36 in their list of "200 Greatest Dance Songs of All Time".
VH1 placed the song at number 24 on their list of the "100 Greatest Hip Hop Songs". The Coldcut remix has also been acclaimed, with its utilization of samples – particularly that of "Im Nin'alu" – being complimented. Dorian Lynskey of
The Guardian named it a "benchmark remix" and placed it in his top ten list of remixes. Chuck Eddy of
Spin called the remix Coldcut's "greatest moment". ==Music video==