Reply
New Member
alexdaman
Posts: 4
Registered: ‎03-31-2011
0

Just approved for Paypal Smart Connect have some questions

Hi all I am new here and have a few questions if anyone knows about paypal smart connect.

 

Well first I was approved for $500 credit

I heard I can get a paypal debit card and link the smart connect to the paypal debit card and use the credit as funding is that true? And is it recommended?

 

Also is it similar to bill me later?

And if I use the smart connect to buy lets say a $100 item do I have to pay it off right away with bank account or something and any fees for using the smart connect?

 

Thanks in advance

Regular Contributor
ficofox
Posts: 232
Registered: ‎02-07-2011
0

Re: Just approved for Paypal Smart Connect have some questions

Congrats on your PPSC approval.  I also have this and it behaves like a traditional credit card account. You receive statements and minimum payment amounts. Yes, you can set it to be a backup source for your debit card. Do this under preference settings in your PPSC management. I don't know of any drawbacks to doing this - I haven't tried it.  I probably won't use this account much (small ebay purchase here and there).

 

I have noticed that after a payment is made, it can take a week or so for it to clear - your available balance takes a while to reflect the payment. Very slow.  GEMB seems to be slow with clearing payments across the board. Mine was a very high APR so I would never carry a balance.

 

It could be a good way to improve credit and get in with the regular Paypal Credit Card down the road.

 

 


With FICO, time heals all wounds.

Take the FICO Fitness Challenge

New Member
alexdaman
Posts: 4
Registered: ‎03-31-2011
0

Re: Just approved for Paypal Smart Connect have some questions

thanks for reply

so with the smart connect linked as main fund source to my paypal debit card it will be able to be used like a normal credit card at places like stores besides online stores right?

Established Contributor
mross1080
Posts: 526
Registered: ‎04-21-2010
0

Re: Just approved for Paypal Smart Connect have some questions

Yes and if you have it set up you will get 1% cash back every month.

Regular Contributor
ficofox
Posts: 232
Registered: ‎02-07-2011
0

Re: Just approved for Paypal Smart Connect have some questions

Once you setup your backup funding source as Paypal Smart Connect, you would use your Paypal Debit Mastercard and backup funding would be provided by the Paypal Smart Connect.  However, I haven't tried using my Paypal debit card in this way so I couldn't guarantee that it works.  You could certainly test it out with a small purchase and see if the debit goes through using PPSC as the backup funding to your Paypal Debit card.

 

To setup your backup funding source for the Debit card, go to Paypal Debit Mastercard management tools under Profile.

 

Backup payment method: Line of Credit for your PayPal Smart Connect x-

Backup limit:

The spending power for your PayPal Smart Connect is the maximum you have available for backup payments. Please note that standard debit card limits also apply.

 

I hope this helps.  Checkout the Paypal Smart Connect FAQs for other info.

 

You can use the Paypal Smart Connect line of credit anywhere Paypal is accepted and quite a huge number of major online stores now take Paypal.

 

 

 

 


With FICO, time heals all wounds.

Take the FICO Fitness Challenge

Established Contributor
gbishere
Posts: 736
Registered: ‎07-07-2010
0

Re: Just approved for Paypal Smart Connect have some questions

 


alexdaman wrote:

Hi all I am new here and have a few questions if anyone knows about paypal smart connect.

 

Well first I was approved for $500 credit

I heard I can get a paypal debit card and link the smart connect to the paypal debit card and use the credit as funding is that true? And is it recommended?

Yes and Yes. It delays it hitting the online account alittle. You will notice. It will debit the card then it will take a few more days to take money from smart connect. 

 

Also is it similar to bill me later?

And if I use the smart connect to buy lets say a $100 item do I have to pay it off right away with bank account or something and any fees for using the smart connect?

 As long as you pay in full once that 100 hits on your statement, then you will not have to pay any interest fees. Smart Connect reports as a store card. I am kind of glad since its my only store card.

 

Thanks in advance


My Smart Connect went from 300 and is now 1100.  Every 4 months I am getting increases.

 

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Regular Contributor
crazysxycool
Posts: 176
Registered: ‎08-21-2010
0

Re: Just approved for Paypal Smart Connect have some questions


gbishere wrote:

 


alexdaman wrote:

Hi all I am new here and have a few questions if anyone knows about paypal smart connect.

 

Well first I was approved for $500 credit

I heard I can get a paypal debit card and link the smart connect to the paypal debit card and use the credit as funding is that true? And is it recommended?

Yes and Yes. It delays it hitting the online account alittle. You will notice. It will debit the card then it will take a few more days to take money from smart connect. 

 

Also is it similar to bill me later?

And if I use the smart connect to buy lets say a $100 item do I have to pay it off right away with bank account or something and any fees for using the smart connect?

 As long as you pay in full once that 100 hits on your statement, then you will not have to pay any interest fees. Smart Connect reports as a store card. I am kind of glad since its my only store card.

 

Thanks in advance


My Smart Connect went from 300 and is now 1100.  Every 4 months I am getting increases.

 


Are these increases done with a soft pull?  I was thinking of asking for an increase but I don't want another inquiry right now.


Starting Score: TU: 663 EQ: 632 EX: ?
Current Score: TU: 721 (12/02/12) EQ: 704 (12/2012 via SW) EX: 712 (11/19/12 via Amex)
Goal Score: 700 (ALL)


Take the FICO Fitness Challenge
Regular Contributor
ficofox
Posts: 232
Registered: ‎02-07-2011
0

Re: Just approved for Paypal Smart Connect have some questions

That's pretty interesting. So using the debit this way, you essentially turn PPSC into a 1% cashback mastercard with no annual fee (albeit horrific APR).


With FICO, time heals all wounds.

Take the FICO Fitness Challenge

Frequent Contributor
tsquad131
Posts: 474
Registered: ‎09-12-2010
0

Re: Just approved for Paypal Smart Connect have some questions

I've used my smart connect account as a backup funding for my paypal debit card. It does work and you do get the 1% cashback on it. You have to run the debit card it as a credit card to get the 1% cashback.

FICO scores - 727 TU(Walmart)/ 727 EX(Amex app)/ 721 EQ(Discover app)
In My Wallet: BankAmericard Cash Rewards($2,000), Discover More($3,000), Chase Freedom($2,000), Fidelity Amex($1,000), Sam's Club Discover($4,400), SallieMae 5% Mastercard($5,000), Amex BCE($2,000) ,Citi Simplicity($2,000), Paypal SmartConnect($3,100), Walmart Store Card($2,350), Chase Amazon Visa($700), Target RedCard($500), Capital One Cash Rewards($750), Best Buy Store Card($1,900), HHGregg($2,000), Amazon Store Card($1,250),Newegg Preferred Account($2,000), Park West($2,000), BankAmericard Travel Rewards($5,000)
Established Contributor
gbishere
Posts: 736
Registered: ‎07-07-2010
0

Re: Just approved for Paypal Smart Connect have some questions

Paypal smart connection is backed by GE Money Bank (GEMB) and all their credit increases are soft pull. Pull that trigger man! :smileyhappy:

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}