Business Credit

[jsucool76]

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Brian_Trying_700 wrote:

Thank you for all the help. Sock drawed. lol

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trumpet-205 wrote:

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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.

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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.

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It is only really useful if you have a paypal smart connect account. Also, paypal is offering purchase protection this holiday season, so it is worth it if none of your credit accounts offer that. 

[jsickz32]

do they pull your credit report when you get this debit card? because they ask you for SSN

[akabigo]

I didn't get any inquiries but I did get denied and then got an email from Paypal that I had 14 days to send them a copy of my DL, SS card and utility bill or they would restrict my account. Mind you I have had this account since 2000. I wasn't happy about it but I sent the stuff in and 24 hrs later my account was back to normal. I didn't bother applying again since I see some people have had to send docs in multiple times  over that stupid debit card. YMMV

[bichonmom]

I've been using this for several years -- since I've had a PayPal acct for my website. If you're using PayPal for income (e.g. from an online business, eBay sales, or using their invoice feature), then using their debit card makes sense. #1, it gives you immediate access to your funds, so you don't have to wait a week or so for the $ to transfer to your bank acct. Also, I seem to think there is a fee for either the transfer or to have a check sent to you. I have never gone that route, but I do recall some fee, if memory serves. So, with the debit card, there are no fees to access your money. #2, with the 1% back (older accts get 1.5% back), it helps to offset the fee you're charged as a merchant when you receive money.

If you're not getting income coming into your PayPal acct., then I would agree that it isn't really useful.

ETA: AFAIK, they don't pull your credit. They do verify your identity and address.

[trumpet-205]

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bichonmom wrote:

I've been using this for several years -- since I've had a PayPal acct for my website. If you're using PayPal for income (e.g. from an online business, eBay sales, or using their invoice feature), then using their debit card makes sense. #1, it gives you immediate access to your funds, so you don't have to wait a week or so for the $ to transfer to your bank acct. Also, I seem to think there is a fee for either the transfer or to have a check sent to you. I have never gone that route, but I do recall some fee, if memory serves. So, with the debit card, there are no fees to access your money. #2, with the 1% back (older accts get 1.5% back), it helps to offset the fee you're charged as a merchant when you receive money.

If you're not getting income coming into your PayPal acct., then I would agree that it isn't really useful.

ETA: AFAIK, they don't pull your credit. They do verify your identity and address. 

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There is no fee for electronic transfer. There is a fee for ATM withdraw (that and in addition to whatever ATM operator is charging).

Again 1% cashback is only for signature purchase. Most B&M do not give you the option to choose between PIN and signature (they will force you to use PIN in store with debit card).

[Project17]

They don't pull your credit but may check something like chex system or something.