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Frequent Contributor
Ortz33__
Posts: 290
Registered: ‎11-10-2010
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PayPal Smart Connect with PayPal Debit Card

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...? 

Frequent Contributor
Ortz33__
Posts: 290
Registered: ‎11-10-2010
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Re: PayPal Smart Connect with PayPal Debit Card

bump

Frequent Contributor
Odiseous
Posts: 287
Registered: ‎03-08-2011
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Re: PayPal Smart Connect with PayPal Debit Card

[ Edited ]

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. 

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
Frequent Contributor
Ortz33__
Posts: 290
Registered: ‎11-10-2010
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Re: PayPal Smart Connect with PayPal Debit Card

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

 

Thanks!

 

John

Frequent Contributor
Odiseous
Posts: 287
Registered: ‎03-08-2011
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Re: PayPal Smart Connect with PayPal Debit Card


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. 

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: PayPal Smart Connect with PayPal Debit Card


Odiseous wrote:

 

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

 


(emphasis mine)

 

:smileyvery-happy:

 

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

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
Odiseous
Posts: 287
Registered: ‎03-08-2011
0

Re: PayPal Smart Connect with PayPal Debit Card


haulingthescoreup wrote:

Odiseous wrote:

 

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

 


(emphasis mine)

 

:smileyvery-happy:

 

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.

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
Moderator
pizzadude
Posts: 9,217
Registered: ‎01-28-2010
0

Re: PayPal Smart Connect with PayPal Debit Card

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 ?
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
Odiseous
Posts: 287
Registered: ‎03-08-2011
0

Re: PayPal Smart Connect with PayPal Debit Card


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.

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
Moderator
pizzadude
Posts: 9,217
Registered: ‎01-28-2010
0

Re: PayPal Smart Connect with PayPal Debit Card

 

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......

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

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