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

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Regular Contributor

Re: Earn 3% on everything using one card


@patoot10Also I don't understand why people are asking in the comments whether this actually works or not and if they will get hit with cash advance fee. This is kind of insulting, I am publishing good information about a method that changes the cash back game completely (at least for the time being) and people thinking that I copied something that I read online.

I was one of the posters that asked if this actually works. I can now see that data points are coming in that verifies what you said is true. I apologize if my post was insulting to you. That was not my intent. I trust what you said, but it doesn't hurt to verify. Smiley Happy

Fidelity Rewards - bills | NFCU Flagship - travel | FNBO Travelite - travel | Capital One Savor - dining | Discover IT - rotating categories

Message 21 of 409
Mega Contributor

Re: Earn 3% on everything using one card

I assume that one issue with using this for big ticket items is that you are paying with a debit card and thus using any of the common credit card protections.  (Unless the PP debit has those).   This does appear relatively painless to use (in contrast to the say 4% everywhere idea of buying gift cards at CVS with the OBC, which is also no longer available to apply for)

Message 22 of 409
Regular Contributor

Re: Earn 3% on everything using one card


@MrDisco99How are rewards redeemed?  Do both cards just add money into your PayPal account?

Great question. I would like to know the answer to this as well.

Fidelity Rewards - bills | NFCU Flagship - travel | FNBO Travelite - travel | Capital One Savor - dining | Discover IT - rotating categories

Message 23 of 409
Frequent Contributor

Re: Earn 3% on everything using one card


@Jetboywrote:

@MrDisco99How are rewards redeemed?  Do both cards just add money into your PayPal account?

Great question. I would like to know the answer to this as well.


I do not believe this linkage between the PP debit card and cashback mastercard, impacts how the rewards are received:

  • For the 2% Cashback Mastercard, the cashback accumulates on your account can be redeemed anytime to your PayPal balance
  • For the 1% debit card, the cashback posts to your PayPal balance/account.

Like any balance on your PayPal account, it can be transferred to your linked checking account. 

 

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Message 24 of 409
Frequent Contributor

Re: Earn 3% on everything using one card

With the credit card the cashback shows in your credit card account on statement day and you can transfer it to your paypal balance (no minimum redemption unlike citi double cash) and once its in your paypal balance you can either move it to you bank or use it to pay off your credit card.

 

For the debit card the statement always ends on the last day of the calendar month and the cashback shows on your paypal balance as long as you earned at least $1.

 

Regards,




Message 25 of 409
Regular Contributor

Re: Earn 3% on everything using one card


@Namaste7

I do not believe this linkage between the PP debit card and cashback mastercard, impacts how the rewards are received:

  • For the 2% Cashback Mastercard, the cashback accumulates on your account can be redeemed anytime to your PayPal balance. 
  • For the 1% debit card, the cashback posts to your PayPal balance/account.

Like any balance on your PayPal account, it can be transferred to your linked checking account. 

 


Thank you. This is what I needed to know.

Fidelity Rewards - bills | NFCU Flagship - travel | FNBO Travelite - travel | Capital One Savor - dining | Discover IT - rotating categories

Message 26 of 409
Regular Contributor

Re: Earn 3% on everything using one card


@patoot10wrote:

With the credit card the cashback shows in your credit card account on statement day and you can transfer it to your paypal balance (no minimum redemption unlike citi double cash) and once its in your paypal balance you can either move it to you bank or use it to pay off your credit card.

 

For the debit card the statement always ends on the last day of the calendar month and the cashback shows on your paypal balance as long as you earned at least $1.

 

Regards,


Thank you for the reply.

Fidelity Rewards - bills | NFCU Flagship - travel | FNBO Travelite - travel | Capital One Savor - dining | Discover IT - rotating categories

Message 27 of 409
Valued Contributor

Re: Earn 3% on everything using one card

Op..

This is a clever and useful loophole... Sort of glad it doesnt work with other cards.. since it cant suddenly be called out as a Cash Advance...

Still feel this might be eventually closed. but for now.. Seems very doable.... and on another note... dont be offended that folks have doubts... people dont want to get clocked for cash advances or possibly AA.... By you giving datapoint that youve actually tried it and it works.... means more folks are willing to give it a shot....

 

-J

Message 28 of 409
Moderator

Re: Earn 3% on everything using one card

For years I used my Paypal Debit (Business) MasterCard almost exclusively, since it gave me 1% cash back compared to my bank-issued debit card that had no cash back, so I'm quite familiar with it assuming there haven't been any recent changes.

 

One thing I want to point out is that you only earn the 1% when using the debit card as a MasterCard (i.e. on the MasterCard network); if you use it as a debit card - with PIN - there's no cash back (I don't know if you can trigger the backup funding that way, anyhow).

 

Also, be leery of PIN-less debit; those transactions won't earn the 1% cash back, either.  I had to make an adjustment to my Amazon account to opt-out of PIN-less debit to get cash back on Amazon purchases.  More info on this can be found here and if you want to opt-out on Amazon you can do that here.

 

More PIN-less debit info here:  https://www.doctorofcredit.com/paypal-business-debit-card-to-exclude-pin-less-debit/

Message 29 of 409
New Contributor

Re: Earn 3% on everything using one card

Nice! I have a Paypal Business Debit card that I haven't used in awhile so I will definitely be trying this out.
My Current Cards: Capital One Quicksilver $1250, Amazon Store Card $3550, Paypal 2% MC $5,000, Paypal Credit Line $1,500, Marvel Mastercard $3800, Discover IT $3,700, CITI Double Cash $2,000
My FICO8 Scores: TU: 725 EX: 730
Message 30 of 409