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PSA: I Used Paypal Key to get net cash back on online rent payments

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kremonis
Regular Contributor

PSA: I Used Paypal Key to get net cash back on online rent payments

Quick public service announcement: I used Paypal Key to net a little bit cash back when paying my rent online. Paypal key is Paypal's attempt at a virtual card service.

 

My landlord offered online rental payments for years but I never used it because of the fees. It was over $21 for credit cards and just under $7 for debit cards.

 

Paypal key was connected to a credit card on the backend. But after I logged in to pay my rent I choose "debit card" instead of "credit card". The payment went through successively!

Message 1 of 11
10 REPLIES 10
AllZero
Mega Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

Thank you for sharing the information!

Message 2 of 11
longtimelurker
Epic Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

Yes, getting a debit card fee/discount is one of the main advantages (apart from the "official" use for merchants who don't accept paypal).  A number of people (including me) also used it for making estimated tax payments, but looks like that has been shutdown.  Which is unlikely to happen to your case!

Message 3 of 11
Credit12Fico
Established Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

It's things like this that Paypal gets antsy about. You know how Paypal gets when something becomes too "popular". 

 

 

Message 4 of 11
Credit12Fico
Established Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments


@longtimelurker wrote:

Yes, getting a debit card fee/discount is one of the main advantages (apart from the "official" use for merchants who don't accept paypal).  A number of people (including me) also used it for making estimated tax payments, but looks like that has been shutdown.  Which is unlikely to happen to your case!


Unfortunately it was massively abused. Many were over estimating their tax payments if you know what I mean Smiley Happy

Message 5 of 11
blindambition
Senior Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

My community portal already rejects the Key card. I've encountered a few sites that didn't, or now don't take it.

Along with Amex cracking down, I think Key is going to lose luster in 21.

Message 6 of 11
Loquat
Moderator Emeritus

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

PayPal has already sent out mass emails to folks (including myself) that PPK/Amex relationship is coming to an end on January 4th. They sent this notification out about a month ago. So enjoy while it last as in 72 hours it's going buh-bye.

 

 

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Message 7 of 11
longtimelurker
Epic Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments


@Credit12Fico wrote:

@longtimelurker wrote:

Yes, getting a debit card fee/discount is one of the main advantages (apart from the "official" use for merchants who don't accept paypal).  A number of people (including me) also used it for making estimated tax payments, but looks like that has been shutdown.  Which is unlikely to happen to your case!


Unfortunately it was massively abused. Many were over estimating their tax payments if you know what I mean Smiley Happy


Sure, but it's all a game.   Paypal wanted to increase market share (making paying with paypal work on merchants that don't accept it), some people found "gaps", and Paypal closes them eventually.    I guess it's hard for an issuer to determine all potential downsides when they come up with a (in their mind) winning idea.

Message 8 of 11
lyTENciL
Regular Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

Be sure to set your cash advance line to zero/minimum before attempting PayPal Key shenanigans. I tried using PPK to fund bank accounts that take debit/CC funding, and all declined, I presume because they were coding as cash advance. Different scenario sure, but it's worth guarding against.


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Message 9 of 11
lhcole77
Valued Contributor

Re: PSA: I Used Paypal Key to get net cash back on online rent payments

Thanks for sharing this, @kremonis 

 

I'm curious if anyone knows the mechanics of how the backend use of a CC translates to a debit card on the front end

Message 10 of 11
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