Earn 3% on everything using one card -Dead !-

[Anonymous]

Forgot to add that they are giving me until September 4th before they close the business debit card so at least I'll get to earn the 3% cash back until then. They also invited me to apply for the useless (to me) PayPal Cash Debit that I can use with my personal PayPal account but that does not earn any cash back. 🙄 Hard pass.

[patoot10]

Recent datapoints are suggesting that the 2% credit card is only for personal accounts and the 1% debit card is only for business accounts. People have been upgrading and downgrading to get the products but it seems that having the products is not good enough becuase someone just mentioned that they received an email about 1% debit closure since their paypal account is personal.

This has nothing to do with Synchrony or a "Loophole". This is all has to do with Paypal trying to promote their useless personal debit card that doesn't earn anything. That's why they are not making the business one available for personal accounts. Also according to paypal.com you can only see the 2% credit card application under personal section so that's why you can't apply for it on a business account.

The question now is if you already have the credit card then you upgraded to business to grab the 1% card or maintain it will they shut down your credit card since your account is not personal anymore ?

I honestly think that's not possible because the credit card is governed by syncrhony after all and they are the actual issuer of it. I think upgrading to business accounts right now is a good idea to prevent the 1% card closure.

Thanks,

[patoot10]

Imateo85

Have you been using your paypal business debit card or it's not active for a while ?

[Anonymous]

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@patoot10 wrote:

The question now is if you already have the credit card then you upgraded to business to grab the 1% card or maintain it will they shut down your credit card since your account is not personal anymore ?

I honestly think that's not possible because the credit card is governed by syncrhony after all and they are the actual issuer of it. I think upgrading to business accounts right now is a good idea to prevent the 1% card closure.

Thanks,

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I had a personal account with the Cashback MC and changed to a business account to apply and was approved for the Business Debit. The Business Debit should arrive in a few days.

I will report back if they want to close the Cashback MC, which I too think is quite unlikely. What is a little more likely is to not allow it to be the backup payment method...

[Anonymous]

patoot10

I don't think I'll convert my personal paypal into a business account mainly because I don't actually own a business. lol I applied for the business debit card after reading on here that you didn't need to own a business to have the card and I wanted to take advantage of the sweet 3% back. I've used the card heavily since I got it in late Feb/early March and it's pretty much been my daily driver. With that being said, I totally understand paypal's decision and at least they are giving me until September before they close the account... 

[imaximous]

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@Anonymous wrote:

patoot10

I don't think I'll convert my personal paypal into a business account mainly because I don't actually own a business. lol I applied for the business debit card after reading on here that you didn't need to own a business to have the card and I wanted to take advantage of the sweet 3% back. I've used the card heavily since I got it in late Feb/early March and it's pretty much been my daily driver. With that being said, I totally understand paypal's decision and at least they are giving me until September before they close the account... 

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You don't really have to own a business. I have this combo (business debit and PP 2%), and I converted my personal PayPal to business claiming "self-employment."

[Anonymous]

imaximous

So in the field where you put your business address you just put your home address and the same with phone number? I guess I could see if you were claiming self-employment that wouldn't be a problem but I'm just a little leery to make the change myself. I just didn't want any trouble if PayPal ever needed me to "verify" that I actually owned some sort of business and I have nothing to show. lol It's definitely something to think about before September though...

[imaximous]

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@Anonymous wrote:

imaximous

So in the field where you put your business address you just put your home address and the same with phone number? I guess I could see if you were claiming self-employment that wouldn't be a problem but I'm just a little leery to make the change myself. I just didn't want any trouble if PayPal ever needed me to "verify" that I actually owned some sort of business and I have nothing to show. lol It's definitely something to think about before September though...

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Yes. I used my home address and phone number. For name of the business, I just put my name there. That's basically how you'd apply for business credit if you were a sole propietor. There's nothing that requires you to make a ton of money to be in business. You could be a "consultant" making $100 a year, if anything. 

[Anonymous]

Just applied for the business debit card last week through my personal account and received it yesterday.

Not sure it's worth activating at this point. PP seems to catch up to things pretty quickly. Still remember the good old days when I could buy up to 4 of their gift cards at walgreens w a CC. That quickly diminished from up to 4, to 1, to gone. 

[CreditCuriosity]

https://www.doctorofcredit.com/paypal-business-debit-card-now-reserved-only-for-businesses/

Seems to pretty much sum it up... It is going to be dead