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@DaveInAZ wrote:Well, looks like it was too good to last, just got this email this morning:
The backup funding source linked to your PayPal Business Debit Mastercard® will not be supported.
Beginning March 11, 2019, a linked bank account will be the only backup funding source supported for your PayPal Business Debit Card. Any other currently linked backup funding source will automatically be unlinked from your PayPal Business Debit Card, including the PayPal Extras Mastercard, PayPal Smart Connect account, PayPal Cashback Mastercard, and eBay Mastercard.
NOOOOOOOOOOOOOOOOOOOOOO.......
This is sad news. I updated the topic subject and contect to reflect that. However, I haven't received an email from Paypal regarding this so I am not sure if this is going to be across the board or maybe people who recently got the card but I have a feeling that this is ending for everyone. I checked Paypal website and now I am seeing this
I do respect Paypal for being direct about this rather than people getting their cards declined or seeing the transaction go through their bank account without authorizing that.
Also for those who haven't received the email here is what it looks like
Bummer, I just set mine up and was waiting for my business debit card in the mail. I wish I had known sooner, I've had the PayPal MC since August 2018.
Oh well, I got two months out of it. Now I have to redo all the subscriptions I linked to avoid getting just 1%
@DaveInAZ wrote:Well, looks like it was too good to last, just got this email this morning:
The backup funding source linked to your PayPal Business Debit Mastercard® will not be supported.
Beginning March 11, 2019, a linked bank account will be the only backup funding source supported for your PayPal Business Debit Card. Any other currently linked backup funding source will automatically be unlinked from your PayPal Business Debit Card, including the PayPal Extras Mastercard, PayPal Smart Connect account, PayPal Cashback Mastercard, and eBay Mastercard.
Boooooooooo!
I havent gotten this email yet but that blows
I guess I’m going to call NFCU and PC my cashRewards to MoreRewards so I have a grocery card. *sigh*
Was always told, If it seems "too good to be true" it probably is.
I had the Sallie-Mae, and we all know what happen to it.
Surprised by how long it lasted before being nerfed.
I wonder how soon before PayPal realizes that 99% of their PayPal Business Debit cards no longer get used as a result.
@Anonymous wrote:I wonder how soon before PayPal realizes that 99% of their PayPal Business Debit cards no longer get used as a result.
I've been think about this and I doubt if it was PayPal behind this, I bet Synchrony demanded it be shut down. PayPal was no doubt happy with this, they get the entire 2.xx% swipe fee for the transaction while only paying us only 1% on the debit card. Synch on the other hand was paying out 2% rewards on the transaction while getting $0 in swipe fees.
And as popular as this was here on MyFico, many read MyFico but never sign up for a membership, and some likely spread the news on other sites like the flyer sites and even reddit.
@DaveInAZ wrote:
@Anonymous wrote:I wonder how soon before PayPal realizes that 99% of their PayPal Business Debit cards no longer get used as a result.
I've been think about this and I doubt if it was PayPal behind this, I bet Synchrony demanded it be shut down. PayPal was no doubt happy with this, they get the entire 2.xx% swipe fee for the transaction while only paying us only 1% on the debit card. Synch on the other hand was paying out 2% rewards on the transaction while getting $0 in swipe fees.
And as popular as this was here on MyFico, many read MyFico but never sign up for a membership, and some likely spread the news on other sites like the flyer sites and even reddit.
Yes and it didn’t help that people spreading it weren’t always smart about it. You never call and ask about such a thing, that’s how the best deals get shut down on Slickdeals is by that one person that calls and alerts a rep to the deal.
It sucks but what can you do? I guess I’m going to have to get a dedicated groceries card after all. *sigh*