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

[imaximous]

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@longtimelurker wrote:

Question on daily debit limit:    Mine is set at $3K a day, which while it is enough nearly all the time, may be insufficient for a big purchase or tax payment.

Does this increase over time?  Is it related to the cc limit?  Or is there some way to request an increase?   

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A few months ago, I called about increasing my $3k daily limit. I was told that they can review my account for an increase, but they required a certain amount of money in deposits going into my PayPal account periodically. I forget the exact amount, but it was a lot -- several thousands, so I told the woman to forget it. I wanted to be able to schedule all my regular monthly payments with Plastiq for the same day, which range between $4k - $6k. So, I have to break them up and calculate the 'deliver by' date, so they process the payments on different days to avoid declines. One of my monthly payments comes very close to $3k and when you add Plastiq's fees, it barely clears. 

I don't think the $3k debit limit has anything to do with the CC limit. My PayPal CC has a pretty high limit, and she didn't seem to care.

[longtimelurker]

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@Anonymous wrote:
The 3k is only "daily" if you use your pp balance. Think of it more like "3k pending" when using backup funding...

If every single charge takes 3 days to clear... Its 3000 per 3 days. On a Wednesday, til Monday. Obviously, some things take longer or shorter to clear.

No. No way to increase it. From my memory that was the maximum. However, it's possible they raised the maximum sometime in the past 2 years. I found the limit overly restricting on weekends, especially if I went out of town

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Thanks for that explanation, so a little worse than I feared!  I am very close to $3K pending at present....

[imaximous]

I don’t think you have to wait till the charges clear to continue using the PP debit card. I’ve charged on consecutive days much more than $3k before payments posted. Day one almost $3k, next day 2 charges of $500 each and $1.4k, and a few smaller charges the following day. All payments processed just fine.

[Anonymous]

I'd be happy to hear I'm wrong... I haven't used the pp debit for 2 years because it was, at the time, way too restrictive... Although, at the time I wasn't using pp credit as backup. I was using bank account.

Tell me, do you see pending charges get authorized on your credit card, or does it take a few days to show up?

[imaximous]

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@Anonymous wrote:
I'd be happy to hear I'm wrong... I haven't used the pp debit for 2 years because it was, at the time, way too restrictive... Although, at the time I wasn't using pp credit as backup. I was using bank account.

Tell me, do you see pending charges get authorized on your credit card, or does it take a few days to show up?

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Maybe using a bank account was the difference. Since you were funding the PP debit with "real money" from an external source, PayPal had to wait till the money cleared to allow more charges. IDK, I wasn't using the debit card 2 years ago and only started using this combo when I learned about it here.

As soon as I make a purchase on the debit card, there's also a pending charge on the credit card. I haven't been counting days, but I noticed that the charges on both stay pending for longer than any other cards. I'd say at least 3 days or more before a charge goes from pending to posted on the credit card activity page.

[Anonymous]

That's the difference then... If they get the authorization they know the money is there. When using bank backup the ach wouldn't go though for several days

[Anonymous]

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@Anonymous wrote:
That's the difference then... If they get the authorization they know the money is there. When using bank backup the ach wouldn't go though for several days

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Several days? I pay my rent with PayPal and they pull it from my account the next day lol. 

I ended up going for the PayPal 2% card so I may set this up, I need to see how notifications and such go with the new card. So far I’m not very amused by the fact I have to log in to PayPal first to get directed to Sync to manage the card. Even my Sync Amazon has an app...

[Anonymous]

Yes, same for me. "sending" money withdraws the same day or next day. Was referring to backup funding. Presumably they don't initiate the ACH until the transaction posted.

However as we discovered, the process is different for this method, so doesn't matter at this point

[longtimelurker]

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@Anonymous wrote:

So far I’m not very amused by the fact I have to log in to PayPal first to get directed to Sync to manage the card. Even my Sync Amazon has an app...

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Once you use the debit card I think this is less annoying as you get a summary of both in one place

[Anonymous]

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@longtimelurker wrote:

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@Anonymous wrote:

So far I’m not very amused by the fact I have to log in to PayPal first to get directed to Sync to manage the card. Even my Sync Amazon has an app...

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Once you use the debit card I think this is less annoying as you get a summary of both in one place

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I like having an app that I can quickly open to check balances. PayPal requires me to use my 2FA every time I open the app while every other app I have allows me to use Face ID and worse, when I log on the website from a desktop browser to make a payment, it sends me the code, I hit login, it sends me back and makes me do it a second time, so PayPal in general can be a frustrating experience for me but I have to use it to send my rent anyway, I was just not aware that Sync requires you to log in to PayPal to manage the card (they don’t seem to have a site back door like Amazon does as far as I can tell, it’s all SSO from PayPal). 

The card is still a 2% card which makes it worth the hassle I guess. 

I am still on the fence about going the 3% route though — it would basically sock drawer the rest of my wallet except Disco and Amazon while simultaneously removing card protections and benefits that come from using my cards. 

Edit: Well in going through my PayPal app, I realized that notifications were broken so I reinstalled the app and now the notifications are turned on. Let’s see if using the credit card triggers PayPal notifications. If it doesn’t, I’ll be much more likely to get the debit card since that definitely will.