Author Topic: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)  (Read 22766 times)

Offline yuneeq

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #80 on: December 08, 2020, 11:07:54 PM »
https://www.doctorofcredit.com/american-express-shutdowns-occurring/
Quote
The common thread seems to be cardholders that have used their cards to make a large volume of payments using PayPal Key,

Finally reading about PPK now, and curious if it'll put my AMEX account at risk. I have an amex biz gold that I want to maximize the bonus spend for the year by using a PPK on 1 of my Amazon PPC accounts (can't have same card on 2 Amazon accounts), however I don't have an AU yet.

Is it a shutdown trigger if I'm using PPK for normal legitimate high-volume spend?
Visibly Jewish

Offline Dan

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Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline mmgfarb

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #82 on: December 08, 2020, 11:15:26 PM »
Spoiler alert: 3x referral is actually a trojan horse ;D
-1
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Offline eyj

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #83 on: December 09, 2020, 06:21:40 AM »
https://www.doctorofcredit.com/american-express-shutdowns-occurring/
Amex didn’t like that people were using their Amex card to send money to pay off the same Amex card via PayPal Key and earning 1% on as much money as they could push through while sitting home on the couch? Surprise. I couldn’t have seen this coming...

Offline yelped

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #84 on: December 09, 2020, 07:38:44 AM »
Amex didn’t like that people were using their Amex card to send money to pay off the same Amex card via PayPal Key and earning 1% on as much money as they could push through while sitting home on the couch? Surprise. I couldn’t have seen this coming...
What did they charge it to? How did Amex know who it's going to?

Offline eyj

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #85 on: December 09, 2020, 09:44:42 AM »
What did they charge it to? How did Amex know who it's going to?
Mostly Plastiq. PayPal Key coded as a debit card which is only 1% charge for payments. Using the Amex business blue which gives 2x MR per dollar for example (up to 50k) and paying the card gets you 1.5% profit on every dollar you pushed through (there are ways of cashing out MR at 1.5).

Then things got really weird when Amex started coding PayPal Key as a 4x restaurant category, and started giving out an extra 3x MR per dollar if you referred others for a card. If you had an unlimited ATM machine in your living room wouldn’t you withdraw millions per week? And if you were an issuer would you notice if someone was suddenly cycling millions through one merchant? Well,  Amex did notice those massive numbers (surprise) and decided shock and awe was the way to go.

Offline Dan

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #86 on: December 09, 2020, 09:54:43 AM »
Did anyone get shut down without Plastiq?
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Offline justmeha

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #87 on: December 09, 2020, 10:12:11 AM »
(there are ways of cashing out MR at 1.5).
pray tell

Offline eyj

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #88 on: December 09, 2020, 10:34:06 AM »
Did anyone get shut down without Plastiq?
I’m sure Amex is well aware at this point that there are other avenues for PPK besides plastiq since many of those Amex shutdown were using them when they ran into plastiq limits so it seems wildly foolish to continue to do them at this point and not expect Amex to pull the rug out in the near future if they haven’t done so yet.

Offline Cls2020

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Offline R.A.T.

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #90 on: December 09, 2020, 11:15:28 AM »
Did anyone get shut down without Plastiq?
Not yet but give us time.  :)

Offline R.A.T.

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #91 on: December 09, 2020, 11:17:00 AM »
I’m sure Amex is well aware at this point that there are other avenues for PPK besides plastiq since many of those Amex shutdown were using them when they ran into plastiq limits so it seems wildly foolish to continue to do them at this point and not expect Amex to pull the rug out in the near future if they haven’t done so yet.
Plastiq has no limits.

Offline mmgfarb

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #92 on: December 09, 2020, 12:08:34 PM »
Did anyone get shut down without Plastiq?
Doesn't seem like swiping through platiq was the trigger...
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Offline R.A.T.

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #93 on: December 09, 2020, 12:29:06 PM »
Doesn't seem like swiping through platiq was the trigger...
Plastiq was the main trigger. Do you know anyone that was shutdown that didn't use Plastiq?

Offline mmgfarb

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #94 on: December 09, 2020, 12:30:59 PM »
Plastiq was the main trigger. Do you know anyone that was shutdown that didn't use Plastiq?
Go back and reread my post carefully
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline R.A.T.

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #95 on: December 09, 2020, 12:37:29 PM »
Go back and reread my post carefully
I fully understand your post. No one said if you use Plastiq you will be shutdown.
I will ask again. Do you know of one person that was shutdown that didn't use Plastiq?

Offline mmgfarb

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #96 on: December 09, 2020, 12:49:52 PM »
I fully understand your post. No one said if you use Plastiq you will be shutdown.
I will ask again. Do you know of one person that was shutdown that didn't use Plastiq?
Idk if you actually understand what I'm getting at but regardless, no, as of now everyone I've heard of has used Plastiq.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline eyj

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #97 on: December 09, 2020, 01:46:25 PM »
Plastiq has no limits.
I meant when ppk stopped working for plastiq.

Offline shmooz

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #98 on: December 11, 2020, 10:31:01 AM »
is ppk/freedom to buy gift cards online acceptable to chase? What site would be the best to buy from(safest, cheapest)

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Re: PayPal Launches Virtual Card Numbers For Use Anywhere (‘PayPal Key’)
« Reply #99 on: December 14, 2020, 12:40:39 PM »
is ppk/freedom to buy gift cards online acceptable to chase? What site would be the best to buy from(safest, cheapest)
Most avenues are safe until they become not safe.