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I got approved and wondering what the credit limit is. 7-10 days to get the card. My Paypay is setup under my company name. Is this a Key bank of GE backd card ? Got Lowes and Wally world along with Freedom within this month. Ya.
It's a DEBIT card, not a credit card, so there is no credit limit. It is tied to your PayPal balance, and you can set up backup funding from a linked bank account which is used automatically if your PayPal balance is insufficient. It earns a flat 1% cash back on all purchases. I have one, just for the hell of it, though I rarely use PayPal anymore. Strange thing is that it actually earns a better rate than the PayPal Extras Mastercard, which is an actual credit card! Anyway, not a bad card to have, and a good route to earning cash back if you can't get a credit card that'll do it.
@steve23111 wrote:It's a DEBIT card, not a credit card, so there is no credit limit. It is tied to your PayPal balance, and you can set up backup funding from a linked bank account which is used automatically if your PayPal balance is insufficient. It earns a flat 1% cash back on all purchases. I have one, just for the hell of it, though I rarely use PayPal anymore. Strange thing is that it actually earns a better rate than the PayPal Extras Mastercard, which is an actual credit card! Anyway, not a bad card to have, and a good route to earning cash back if you can't get a credit card that'll do it.
OMG I just spit my drink
@RonDawg wrote:
@steve23111 wrote:It's a DEBIT card, not a credit card, so there is no credit limit. It is tied to your PayPal balance, and you can set up backup funding from a linked bank account which is used automatically if your PayPal balance is insufficient. It earns a flat 1% cash back on all purchases. I have one, just for the hell of it, though I rarely use PayPal anymore. Strange thing is that it actually earns a better rate than the PayPal Extras Mastercard, which is an actual credit card! Anyway, not a bad card to have, and a good route to earning cash back if you can't get a credit card that'll do it.
OMG I just spit my drink
You're welcome. I guess I should say, "the credit limit is determined by the amount of money available for spending" or something like that. There IS a daily purchase/transaction limit, but I don't recall right off-hand what that is.
Daily purchase limit is $3,000. Daily ATM limit is $400.
You only earn 1% cashback on signature transaction. Most B&M defaults to PIN transaction and you cannot change that.
@steve23111 wrote:
@RonDawg wrote:
@steve23111 wrote:It's a DEBIT card, not a credit card, so there is no credit limit. It is tied to your PayPal balance, and you can set up backup funding from a linked bank account which is used automatically if your PayPal balance is insufficient. It earns a flat 1% cash back on all purchases. I have one, just for the hell of it, though I rarely use PayPal anymore. Strange thing is that it actually earns a better rate than the PayPal Extras Mastercard, which is an actual credit card! Anyway, not a bad card to have, and a good route to earning cash back if you can't get a credit card that'll do it.
OMG I just spit my drink
You're welcome. I guess I should say, "the credit limit is determined by the amount of money available for spending" or something like that. There IS a daily purchase/transaction limit, but I don't recall right off-hand what that is.
I degress.. To be more on topic. Sorry he is right it is a Debit Card so you can not expect a credit limit... However Congrats on getting the card.
What I'm amused by is the fact that it's a "business" Mastercard. I have a personal PayPal account, and every debit card they've ever issued to me (including several previous iterations of their debit product) have been "business" cards.
@steve23111 wrote:What I'm amused by is the fact that it's a "business" Mastercard. I have a personal PayPal account, and every debit card they've ever issued to me (including several previous iterations of their debit product) have been "business" cards.
I have their "Business" Mastercard Debit card as well, it sits in a drawer. Though it is a 1% cash back card so for what it is, it is not a bad deal, however... I have much better cards to access my money then a debit card could ever be. 1% cash what? try 5%
@steve23111 wrote:What I'm amused by is the fact that it's a "business" Mastercard. I have a personal PayPal account, and every debit card they've ever issued to me (including several previous iterations of their debit product) have been "business" cards.
It's not really a business debit card per say. When I tried to sign the card up for MasterCard EasySavings (business savings program), I couldn't. Called PayPal only to found out that it was a personal debit card, even though they printed "business" on the card.
Thank you for all the help. Sock drawed. lol
@trumpet-205 wrote:
@steve23111 wrote:What I'm amused by is the fact that it's a "business" Mastercard. I have a personal PayPal account, and every debit card they've ever issued to me (including several previous iterations of their debit product) have been "business" cards.
It's not really a business debit card per say. When I tried to sign the card up for MasterCard EasySavings (business savings program), I couldn't. Called PayPal only to found out that it was a personal debit card, even though they printed "business" on the card.