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

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imaximous
Valued Contributor

Re: Earn 3% on everything using one card - RECENT UPDATE


@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....... Smiley Sad

Message 311 of 409
patoot10
Frequent Contributor

Re: Earn 3% on everything using one card - RECENT UPDATE

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

 

https://www.paypal.com/us/smarthelp/article/what-backup-payment-methods--are-available-with-my-paypa...

 

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

Screen-Shot-2019-02-14-at-9.44.26-AM




Message 312 of 409
Anonymous
Not applicable

Re: Earn 3% on everything using one card - RECENT UPDATE

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.

Message 313 of 409
Anonymous
Not applicable

Re: Earn 3% on everything using one card - RECENT UPDATE

Oh well, I got two months out of it.  Now I have to redo all the subscriptions I linked to avoid getting just 1%

Message 314 of 409
Anonymous
Not applicable

Re: Earn 3% on everything using one card - RECENT UPDATE


@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 Smiley Sad

 

I guess I’m going to call NFCU and PC my cashRewards to MoreRewards so I have a grocery card. *sigh*

Message 315 of 409
Kforce
Senior Contributor

Re: Earn 3% on everything using one card - RECENT UPDATE

Was always told,   If it seems "too good to be true"  it probably is.   Smiley Sad

I had the Sallie-Mae, and we all know what happen to it.    Smiley Embarassed

Surprised by how long it lasted before being nerfed.     Smiley Surprised

Message 316 of 409
Anonymous
Not applicable

Re: Earn 3% on everything using one card - RECENT UPDATE

I wonder how soon before PayPal realizes that 99% of their PayPal Business Debit cards no longer get used as a result. Smiley Tongue

Message 317 of 409
DaveInAZ
Senior Contributor

Re: Earn 3% on everything using one card - RECENT UPDATE


@Anonymous wrote:

I wonder how soon before PayPal realizes that 99% of their PayPal Business Debit cards no longer get used as a result. Smiley Tongue


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. 

Message 318 of 409
Anonymous
Not applicable

Re: Earn 3% on everything using one card - RECENT UPDATE


@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. Smiley Tongue


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*

Message 319 of 409
Anonymous
Not applicable

Re: Earn 3% on everything using one card - RECENT UPDATE

@Saeren: I recommend the BCE for groceries.
Message 320 of 409
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