PayPal Smart Connect with PayPal Debit Card

[Ortz33__]

Hey guys.  I was approved for a $500 credit line from GemB it's not the MasterCard.  I was surprised as GemB declined for WalMart and Banana just last week but this one pulled TransUnion which is the better of my scores.  I've heard you can order a PayPal Debit Card (which seems to have some sort of approval process) and link it to this.  Is that true?  This allows it to basically become a card and not an online line of credit.  Which is good, and I can use it for Gas, and pay it off to grow that limit.  I hate ordering online and co uld really use the Debit Card.  I applied and they said it would take a week for a decision.  What do they base their decision on for a debit card...? 

[Ortz33__]

bump

[Odiseous]

---

@Ortz33__ wrote:

Hey guys.  I was approved for a $500 credit line from GemB it's not the MasterCard.  I was surprised as GemB declined for WalMart and Banana just last week but this one pulled TransUnion which is the better of my scores.  I've heard you can order a PayPal Debit Card (which seems to have some sort of approval process) and link it to this.  Is that true?  This allows it to basically become a card and not an online line of credit.  Which is good, and I can use it for Gas, and pay it off to grow that limit.  I hate ordering online and co uld really use the Debit Card.  I applied and they said it would take a week for a decision.  What do they base their decision on for a debit card...? 

---

I started with $300 Smart Connect from PayPal (I had already had the PayPal Debit Card, for a few years ; with no credit score). 

I set the SmartConnect as my 'backup payment source' for the PayPal Debit Card. Since I usually don't have a balance on my PayPal account; that meant I essentially had a $300 CL (to start) PayPal Mastercard (since the Debit card pulled from the SmartConnect credit line).

While this is a great way to to earn 1% cash back while building/re-building your credit; it's kind of a pain to work with; if it's your only card. 

In my experience; it took up to 5 busines days for the initial charge to transition from a 'pending charge' to an actual charge (funds held). Then, it would take another 5 busines days for my payment to post. I found that *any* charge I made, would take at least 10 business days until the funds were feed up (assuming I paid it as soon as possible), for additional purchases. 

I found myself making 2 - 3 payments *per week* just to make sure the card wasn't declined while grocery shopping. Even then, I miscalculated on 3 occasions. It's now in the SD. 

All that being said: the PayPal Debit Card (which requires no credit to get), combined with PayPal SmartConnect as the backup payment source; is an effective way to earn 1% cash back, while establishing/rebuilding your credit. 

Edit: The Backup Payment source only works (IIRC) if you use the PayPal Debit Card for POS (credit) transactions (do not enter pin), and do not use the Debit function. 

[Ortz33__]

Thanks!  Was there an approval process for the debit card? They asked for my social...? 

Thanks!

John

[Odiseous]

---

@Ortz33__ wrote:

Thanks!  Was there an approval process for the debit card? They asked for my social...? 

Thanks!

John

---

Yes; there is an approval process. 

Though: from my experience it was minimal. I was approved, when I first applied for the Debt Card. 

Several years later, I had a fraud issue regarding the same card (I was careless); I asked to have the debit card replaced. I had to cancel the original card, and re-apply for a replacement. 

While it wasn't an issue (since I had an extended history with PayPal; I *still* had to fill out a new application. No exceptions. 

This just seems to be how PayPal works. 

[haulingthescoreup]

---

@Odiseous wrote:

...Though: from my experience it was minimal. I was approved, when I first applied for the Debt Card. 

---

(emphasis mine)

Sorry, I'm not trying to be a Spelling Nazi. This just got me tickled!

[Odiseous]

---

@haulingthescoreup wrote:

---

@Odiseous wrote:

...Though: from my experience it was minimal. I was approved, when I first applied for the Debt Card. 

---

(emphasis mine)

Sorry, I'm not trying to be a Spelling Nazi. This just got me tickled!

---

LOL.  that's OK.

While I was in that phase of my credit building;  I felt like I was in debt (even though I PIF 2x/week). I thoroughly hated the system at the time.

The PayPal Debit Card + SmartConnect (Backup Payment Source) combination is not ideal. However; it does function.

[pizzadude]

Does The debit card show on your credit reports ? It isn't really a line of credit, it is a way to access your PayPal account, right ?

[Odiseous]

---

@pizzadude wrote:
Does The debit card show on your credit reports ? It isn't really a line of credit, it is a way to access your PayPal account, right ?

---

The Debit Card itself does not show on your redit report; as it is not a credit product.

However: PayPal SmartConnect does show on your credit report. since it *is* a credit line; just not as a credit card. 

MYFICO reports list the credit line as: 

EQ: 

Revolving

Individual

Mail Order Firms

TU: 

Revolving Account

Individual Account

Department / Variety and Other Retail

The PayPal Debit Card itself pulls from your available funds in your PaytPal account first; then whatever backup payment source you have set.

I used the PayPal Debit card for quite a while, with my checking account as my backp payment source. The Debit Card itself was never part of my credit history.

[pizzadude]

Cool !  Thanks for the info !  Sounds like it might be a good way to access PayPayl funds, now I just gotta find something to sell on eBay......