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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 - LONG UPDATE


@Izzyryder13wrote:
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?


What he is trying to say is that for the PayPal Business Debit, when choosing a backup funding source, you will only be able to select bank accounts or PayPal issued credit cards.  For this to work you need a PayPal Business Debit card and a PayPal Cash Back MasterCard issued by Synchrony.

Message 71 of 409
Established Contributor

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

@digitek exactly, thanks for clarifying.

To the user on the previous page who upgraded their PayPal acct to a business acct to get the business debit: that was actually unnecessary. Apparently PayPal business debit cards were originally available to business accounts and premier accounts - but at some time the premier account was merged with the basic account. With this in mind, I went and requested the business debit card for my basic account and viola, no issues: now it's in my wallet lol
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Message 72 of 409
Frequent Contributor

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


@digitekwrote:

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?


Exactly.

 


@digitekwrote:

It looks like the Business Debit has a lot of the same protections....more concerned I am of who I have to deal with when it happens.


For me, this is going to be for my "small daily purchases" that my category cards do not cover. But I guess if I was going to use it to purchase a $5,000 TV, I would possibly go with one of your other cards for possibly better protection(?).

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Message 73 of 409
Member

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

um.....just a quick question...

wt if I link the card to my venmo acct to sd money to my fd and using the pp credit card as backup? so I will earn $2 for every $100 i send?

Message 74 of 409
Established Contributor

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

I...doubt that's sustainable
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Debit: + DCU savings acct for 5.12% APY for $1k
Message 75 of 409
Frequent Contributor

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


@ckhf2002wrote:

um.....just a quick question...

wt if I link the card to my venmo acct to sd money to my fd and using the pp credit card as backup? so I will earn $2 for every $100 i send?


Venmo 3% fee for using Credit Card, and from what I can tell this whole thing only works if the transaction is done as a credit on the credit payment network, even though you would be using a debit card for the transaction technically.

Message 76 of 409
Established Contributor

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

Actually from what I can tell just the 1% on the debit card doesn't work on debit transactions. It seems to me that the 2% from the CC funding the debit card should still work on debit purchases, making this setup give you 2% on debit purchases....someone please correct me if I'm wrong, because to me that's the true utility here.
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Cash back:Travel:
Debit: + DCU savings acct for 5.12% APY for $1k
Message 77 of 409
New Member

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


@digitekwrote:

@Izzyryder13wrote:
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?


What he is trying to say is that for the PayPal Business Debit, when choosing a backup funding source, you will only be able to select bank accounts or PayPal issued credit cards.  For this to work you need a PayPal Business Debit card and a PayPal Cash Back MasterCard issued by Synchrony.


Oh.. I see. That was a major oversight on my part. My apologies.. thanks for helping!

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Message 78 of 409
Frequent Contributor

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

Yes for debit purchases you will still earn cashback but only 2% because Paypal Debit only works on credit transactions.

 

That's still an awesome way to put your spend at places that don't accept credit on a credit card while also earning 2% cashback. Even if you don't earn anything on those transactions it's still a pretty sweet deal putting your spend on a credit card at places that don't take credit.

 

With that being said there is always a way around this. At walmart you can use walmart pay. At Sams you can use Scan and Go. Or just buy online giftcards for that store and use them at the store later.




Message 79 of 409
Member

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

I know there will be a 3% fee for using a using a Credit Card.

And to get the 1% cash back on the debit card, I need to use it as credit.

But the question here is, what if I use the debit card as debit? (and use the pp 2% credit card as a backup fund)

I know I will not get that extra 1% from the debit card, but I will not need to pay for the 3% fee on venmo,

and I am able to earn 2% cash back on my paypal 2% credit card? unbelievable!

Message 80 of 409