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

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Frequent Contributor

Re: Earn 3% on everything using one card

wrote:

 

I also found this tidbit that backs up what I mentioned earlier about PIN-less debit:

 

paypalbackup2.png


Thank you for this info. I don't make enough purchases on my everyday card for this to work for me. Smiley Sad

    EQ=823        TU=816         EX=807      INQ=1/2/4     UTIL=1%         AZEO
Message 61 of 409
Established Contributor

Re: Earn 3% on everything using one card

Patoot
That doesn't sound like a great reason to be defensive. It's just a credit card loophole, and maybe not you but experience has shown me that any such loophole should be scrutinized and expected to disappear at any given time without notice.
Chase UR: Amex MR:Citi TY:
Cash back:Travel:
Debit: + DCU savings acct for 5.12% APY for $1k
Message 62 of 409
Mega Contributor

Re: Earn 3% on everything using one card


@f4phantom2500wrote:
Patoot
That doesn't sound like a great reason to be defensive. It's just a credit card loophole, and maybe not you but experience has shown me that any such loophole should be scrutinized and expected to disappear at any given time without notice.

The OPs updated first post is interesting, making the point that two different banks are involved so (perhaps) the concern is less.  Generally issuers take action when rewards that they pay greatly exceed what they expected.    So, without an infinite MS loop here, the debit card is being used for transactions (earning 1%) and there are an equivalent number of CC transactions (earning 2%) so things may not appear that unusual to invoke scrutiny.     But.... I don't know how Paypal contributes to the reward payments as part of the co-branded agreement.    Then, them paying part of the rewards on both ends might well get their attention.

Message 63 of 409
Frequent Contributor

Re: Earn 3% on everything using one card

Do any mortgage lenders allow you to pay with a debit card (without a fee) because they figure "it's just linked to your checking account anyways"?

    EQ=823        TU=816         EX=807      INQ=1/2/4     UTIL=1%         AZEO
Message 64 of 409
Regular Contributor

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

thank you, patoot10 for the tip!

I received my PayPal debit card today. I'm extra excited because it has contactless pay. This is currently my only card with that feature, and it's super convenient for times my public transit card fails me. Now I'll get 3% cash back when that happens, too!

I can't wait to use this for my non-category spend that doesn't need the benefit of Citi Price Rewind.

This is great timing, too, because I FINALLY got a CLI on my PayPal credit card. My starting limit was $300...; now I'm at $10,000.

Thank you!
Green Card: NPSL | Freedom VS: $5K | Discover it: $25K | Quicksilver Platinum MC: $6K | Victoria's Secret Angel Forever: $3.15K | Sapphire Preferred VS: $7.3K | Dividend Platinum Select V: $9K | Barclaycard Rewards MC: $1.5K | Cash Rewards Platinum Plus V: $2.5K | Slate V: $500 | Target REDcard: $1.5K | Amex EveryDay: $18K | Blue Cash Everyday: $18K | Fidelity Rewards VS: $9K | Double Cash WMC: $12.8K | Better Balance Rewards Platinum Plus MC: $7.5K | Ebates Cash Back VS: $8K | Nordstrom VS: $10K | Sallie Mae WMC: $5K | FNBO American Express 6.25%: $11.7K | Quicksilver VS: $10.75K | SaksFirst Store Card: $2.25K | Saks WEMC: $8K | Iberia Bank Visa Classic: $8.5K | Blispay V: $7.5K
Message 65 of 409
Frequent Contributor

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

Another thank you to Patoot!

 

My $10,000 Paypal MC is on it's way. You guys make it very hard to garden!

    EQ=823        TU=816         EX=807      INQ=1/2/4     UTIL=1%         AZEO
Message 66 of 409
New Member

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

I recently received my paypal business debit card. When I try to choose my backup funding method, it doesn't let me choose a credit card. It will only let me choose a bank account.

 

Am I doing something wrong or have others experienced this as well?

PenFed PowerCash Rewards $10K | Penfed Plat Rewards $10K | Uber Barclay $10K | Capital One Venture $3800 | Upromise Barclay $2k | NavyFed Rewards $2K | Credit One $1k | Web/Fingerhut $1.7k
Message 67 of 409
Established Contributor

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

It has to be a PayPal credit card. If you don't have one of those then you can't use a CC as a funding source.
Chase UR: Amex MR:Citi TY:
Cash back:Travel:
Debit: + DCU savings acct for 5.12% APY for $1k
Message 68 of 409
Frequent Contributor

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

I started this process last night, of at least upgrading my PayPal account to a business account (which is totally free) and then requesting a PayPal business debit card.  I had to send in some verifying documents, but woke up to an email this morning say the debit card was on its way.

 

Not sure if I should pull the trigger on the PayPal CashBack MC card to complete the process.  So to get this to work you'd need to have $0 balance in your PayPal account, and then the 1% from the debit card that gets automatically deposited in your PayPal account every month you just transfer it out or use until the PayPal account is back to $0 so that it would trigger overflow again next month?

 

I was looking into whether you'd get the benefits of the PayPal Cash Back card when using this method, but it looks like the Business Debit has a lot of the same protections, the PayPal site links to this somewhat generic Mastercard Business Debit card page that lists a lot of benefits, but not sure exactly which ones this PayPal debit card specifically has.

https://www.mastercard.us/en-us/businesses/small-business/cards/business-debit-card.html

 

I found a link to the actual Cardholder agreement for the debit card here:

https://www.paypal.com/us/webapps/mpp/ua/debitcard-full

 

Found this part interesting:

"Your liability for unauthorized transactions, and any dispute rights you have are governed by the PayPal User Agreement"

 

So fraud resolution is handled by PayPal.  That is my main concern with this...what happens when you have a dispute with a merchant?  Is it the Debit card issuer, PayPal, or Synchrony who will be doing the resolution?!  What happens if you have fraud on your PayPal Business debit like someone stole it and is using it, do you have to call PayPayl and Synchrony both?  The charge would hit both cards maybe, but in the end it would be Synchrony you'd be dealing with since the money would come from them?  Would they be cool with creditting you for these strange looking roll over transactions?

 

Synchrony customer service has some pretty bad history/reviews, can't imagine trying to work through a complicated fraud case with them, anyone else worried about that?  The more fraud cases I've had with my cards, the more concerned I am of who I have to deal with when it happens.

 

Message 69 of 409
New Member

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

wrote:
It has to be a PayPal credit card. If you don't have one of those then you can't use a CC as a funding source.

No, I'm almost positive it can be the paypal business debit. I even accepted the 1% for using signature transactions instead of PIN.

Has anyone else had this problem?

PenFed PowerCash Rewards $10K | Penfed Plat Rewards $10K | Uber Barclay $10K | Capital One Venture $3800 | Upromise Barclay $2k | NavyFed Rewards $2K | Credit One $1k | Web/Fingerhut $1.7k
Message 70 of 409