Is it possible to make payments to the card before statement closing? In order to reduce the balance reported to the credit bureau to achieve a 1-4% utilization? I.e if I spend $1000 on the card, can I pay it down to $500 before the statement actually closes?
Right now, i don't have the option to make a payment at all. Which is somewhat scary....But I don't know if it's because nothing is posted and it's a new card, or it's because you can only make a payment after statement closes, towards a statement balance, and no more than that.
That would be a strange way for a card to work wouldn't it? I typically overrun what I want reported to the bureaus, then pay it down before statement closing to get optimal utilization reported. Is that possible to do with this card?
I would not use a Sync card to try and manage an Azeo or credit utilization issue. Too many times we have seen Sync report off cycle.
Its a great card imo , its not complicated to use so imo dont try and over think it. Use it, and either pay as the charges post or let your statement cut then pif. Simple is always best with Sync imo.
I can confirm. The paypal balance can be selected as payment method when making a one-time payment through the mobile app portal. It will even show you your paypal balance on the spot from the portal (which is ironic considering how poorly integrated the portal is with PP). This works as instant statement credit more or less since rewards can be deemed instantly to your balance and you can push it right back to pay the card.
It doubt this is a big deal for most people. I personally just don't like having money "in thin air" waiting on bank transfers.
As a bonus, when you request the Paypal Cash Debit card (not the prepaid product, but an actual ATM card serviced by Bancorp), your Paypal balance becomes FDIC insured. I have zero interest in actually using the debit card, it's getting sock drawered. I just wanted the FDIC insurance on what little Paypal balance I have. When the jig is up with Paypal and the Chronies, I want to be made whole by the FDIC.
I can also confirm that a backup payment option (in case the PP app goes down, or your card is not showing in the PP app which all have happened before according to my research), is to call the number on the back of the card and use automated service to make payment. Just want to have all my bases covered.
And finally, while the portal has an "alerts page", the latest reports from the Paypal Community forums is that this feature is not working yet.
What I'm hoping from this card going forward are alerts and contactless to become available. Bizzare that a card is issued in 2020 without this...Hopefully Venmo card interface can trickle back to the Paypal MC program.
Edit: For any contactless payment junkies, you can load your Paypal Cashback Mastercard to Google Pay or Samsung Pay if you have android and samsung products. A bit trickier for apple users since PPMC not supported in Apple Pay because Apple hates Paypal. If you have an apple phone, but also have an android smartwatch linked to your apple phone, you can add PPMC to your google wallet on iPhone. Then use the android smartwatch to complete the contactless payment in-store. Really just temporary as I'm sure Synchrony will issue contactless version of this card in the next 1-2 years.
I wish PayPal brings back the PayPal MC as a backup for the PayPal debit card. Not only did the card have contactless, but also, all transactions are within PayPal and you can view it all there (the only time I signed in to Sync was to pay the card, or when I travel since the debit has FTF). The extra 1% back was just a bonus.