topic Re: Sending money on Paypal gets CC rewards? in Personal Finance

Sending money on Paypal with CC? Cashback/Miles?

Anonymous — Fri, 11 Sep 2015 03:47:15 GMT

So I have to send my mother some Coins. I usually just do a instant transfer from my bank account. But im sitting here wondering if I connect my CC to my paypal and use it to send her the money will I earn cashback/miles like a regular transaction? I already know I will have to pay the 2.9% but if it helps me get alil closer to my spending threshold for my bonus im cool with it. Anyone know the answer to this?

Re: Sending money on Paypal gets CC rewards?

Anonymous — Fri, 11 Sep 2015 03:44:31 GMT

You could.

Re: Sending money on Paypal gets CC rewards?

CH-7-Mission-Accomplished — Fri, 11 Sep 2015 04:28:13 GMT

That should work.

Do be aware that some credit card companies are very jumpy about PayPal transactions. I believe AMEX is one. Others can jump in. For some reason they take adverse action over certain PayPal transactions.

Re: Sending money on Paypal gets CC rewards?

Open123 — Fri, 11 Sep 2015 04:35:09 GMT

You should, but at 2.9%, it would only be worthwhile for a significant bonus.

However, depending on the amount, there is some risk when using CCs for this, especially Amex. Not a huge degree of risk, but more than, say, buying a GC from a supermarket.

Re: Sending money on Paypal with CC? Cashback/Miles?

ohundred — Fri, 11 Sep 2015 05:07:21 GMT

Transfers among friends and family are free. Paying for goods or services will result in a 2.9 transaction fee for the recipient.

Re: Sending money on Paypal with CC? Cashback/Miles?

Anonymous — Fri, 11 Sep 2015 06:46:40 GMT

Thanks everyone

Re: Sending money on Paypal with CC? Cashback/Miles?

Anonymous — Fri, 11 Sep 2015 06:51:21 GMT

@ohundred wrote:
Transfers among friends and family are free. Paying for goods or services will result in a 2.9 transaction fee for the recipient.

True but its only free when using a paypal balance or a instant transfer from your checking account thats tied to your paypal. There is a 2.9% charge when using any type of card.

Re: Sending money on Paypal with CC? Cashback/Miles?

Anonymous — Fri, 11 Sep 2015 14:04:51 GMT

I used it once to send $10,000.00 from one of my cards, transaction went through and earned my points lol

Re: Sending money on Paypal with CC? Cashback/Miles?

Open123 — Fri, 11 Sep 2015 14:16:07 GMT

@Anonymous wrote:
I used it once to send $10,000.00 from one of my cards, transaction went through and earned my points lol

Did you incur the 2.9% fee? Any way around this fee?

Re: Sending money on Paypal with CC? Cashback/Miles?

jsucool76 — Fri, 11 Sep 2015 14:20:29 GMT

2.9% + $0.30

Re: Sending money on Paypal with CC? Cashback/Miles?

Open123 — Fri, 11 Sep 2015 14:29:15 GMT

@jsucool76 wrote:
2.9% + $0.30

Ah...are there PayPal b&ms where I can use Apple Pay?

Re: Sending money on Paypal with CC? Cashback/Miles?

Strogen — Fri, 11 Sep 2015 14:29:50 GMT

@ohundred wrote:
Transfers among friends and family are free. Paying for goods or services will result in a 2.9 transaction fee for the recipient.

Using your credit card to send money to friends and family is NOT free. 2.9% fee as usual.

I have done this many time in the past to meet bonus spends or send someone money.

Ive used Chase cards mostly and have suffered no ill effects. Biggest payment ive done is 3K.

Re: Sending money on Paypal with CC? Cashback/Miles?

Anonymous — Fri, 18 Sep 2015 17:11:30 GMT

@Anonymous wrote:
So I have to send my mother some Coins. I usually just do a instant transfer from my bank account. But im sitting here wondering if I connect my CC to my paypal and use it to send her the money will I earn cashback/miles like a regular transaction? I already know I will have to pay the 2.9% but if it helps me get alil closer to my spending threshold for my bonus im cool with it. Anyone know the answer to this?

What did you decide to do? Thanks in advance for your help!