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Frequent Contributor
Posts: 258
Registered: ‎06-03-2008
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PayPal credit card vs. PayPal online credit.

[ Edited ]

I am thinking about applying for the PayPal card/credit to bump util a little bit.  Any thoughts?  Is this a good time?  Was wondering if it was like the Best Buy Rewards card thing....where you apply for their card and then get slapped with a silly $300 limit Mastercard that never increases.   

 

Also...is the purchase power immediete?  Thanks.

Message Edited by Jubeyy on 03-08-2009 06:26 PM
Valued Contributor
Posts: 1,603
Registered: ‎12-07-2008
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Re: PayPal credit card vs. PayPal online credit.

[ Edited ]

I received the Paypal Plus credit card (different from Paypal Buyer's Credit) in 12/06 with below average credit at the time.  They gave me a CL of $2000 that never increased even though I've tried on and off throughout the last couple of years - you can press the luv button on the site.  They just recently CLD to $100.  I always PIF and I'm not the only one who has had this happen recently.  If you do a search you'll find at least a couple of threads about it.  It's GEMB so I guess I'm not too surprised.  FYI, I had nothing new or negative on my CRs (besides what was already there when they gave me the card back then) and never left a balance on the card. 

 

Hope this helps.

 

Edited to add:  I really enjoyed racking up the points to use on eBay and you can redeem them at any time after you reach a certain amount.  Also, their site leaves something to be desired:  https://www.paypalplus.gemoney.com

Message Edited by clocktick on 03-08-2009 06:49 PM
Message Edited by clocktick on 03-08-2009 06:59 PM
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Epic Contributor
Posts: 25,236
Registered: ‎10-23-2007
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Re: PayPal credit card vs. PayPal online credit.

yes if you apply for paypal credit card and they can't approve you for that, they will try to approve you for the buyers credit.

I have the Ebay Mastercard and was also recently granted a CLD for my great payment history of almost 2 years. lol 

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
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Valued Contributor
Posts: 1,148
Registered: ‎04-23-2008
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Re: PayPal credit card vs. PayPal online credit.

We had a PayPal business account and a while back I decided to apply for the PayPal Plus Credit Card and for some reason they said no but instead gave me the Buyer Credit which I though was so worthless. But then realized that since I have a debit card attached to our account (MC Logo) and I can set the Buyer Credit as my backup funding, it gets used almost like a regular credit card.

 

One minor annoyance is that since we get 1% back on purchases, that gets funded to your PayPal account so that means that any purchase you make gets offset by that amount and the difference goes to Buyer Credit which makes the numbers different and makes the accounting a bit of a pain the arse, but it works and comes in handy since I can use my "debit" card to make pin purchases too and works the same, so I am relatively happy with it.

 

So if you don't get the credit card, ask them for the buyer credit instead and use it like I do, it will take some getting used to but nothing that can't be dealt with in a short time. Good luck and hope it helps.


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Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
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Re: PayPal credit card vs. PayPal online credit.

Hi Guardian, it is very interesting post. I have applied for Credit card and they approved $1600 Buyer Credit. I did not realize, that we can access buyers credit using debit card. That is interesting. I have the debit card, I am going to try tomorrow and see if it works. If it works then it adds lot more value to buyers credit. Thank you for the post.
Valued Contributor
Posts: 1,148
Registered: ‎04-23-2008
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Re: PayPal credit card vs. PayPal online credit.


concorduser wrote:
Hi Guardian, it is very interesting post. I have applied for Credit card and they approved $1600 Buyer Credit. I did not realize, that we can access buyers credit using debit card. That is interesting. I have the debit card, I am going to try tomorrow and see if it works. If it works then it adds lot more value to buyers credit. Thank you for the post.

Yes indeed, I pride myself in finding loopholes if you will to make a situation work and this works like a charm. I will be glad to walk you through it if it becomes necessary. All you need is to ask them to issue you a debit card for your paypal account, then under debit card section click on designate backup funding source, at that time you need to have buyer credit already approved and it will show up on the pull down, you select it and viola, done. anytime you use the debit as a credit or pin purchase, it will attempt to use the balance available and what is not available comes off the buyer credit and it will show up on that statement like two days later. It will even break it down for you. I can give you screenshots or whatever if you need it later. Just let me know. Good luck.


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Valued Member
Posts: 28
Registered: ‎11-20-2008
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Re: PayPal credit card vs. PayPal online credit.

I applied for and got the Buyer Credit, never did apply for the credit card, because I was going through Ebags.  One pro about it is the great no interest for three months deals they have with them and at other merchants.  What I don't like about them is that if I have a balance, it'll show up on two of my reports with the limit as zero, but still show the balance, so I'm afraid it looks like I've maxed out my credit, I believe on one it is reported.  But, it's not a problem since I usually have a zero balance, so it doesn't hurt my credit, it's just...there.  I've used it twice for the deals, so usually I just stand at zero.
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
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Re: PayPal credit card vs. PayPal online credit.

Hi Guardian, I have setup my paypal debit card to use the paypal buyer credit. Thanks for the tip....
Valued Contributor
Posts: 1,148
Registered: ‎04-23-2008
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Re: PayPal credit card vs. PayPal online credit.


concorduser wrote:
Hi Guardian, I have setup my paypal debit card to use the paypal buyer credit. Thanks for the tip....

You are welcome, glad to be of some help.


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Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
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