Is it worth it to use paypal to spend and gain miles?

[Yellow]

For instance, if i spent 1000 dollars a month through paypal to my friend, and he would pay me back.

would this be a stupid way to gain miles? or a smart one?
has anyone ever done it successfully?
what are the cons?

thanks in advance!

[Smirk]

definitely not worth it, fee's are more than you'd get in points
Purchase payments received (monthly)   Fee per transaction
$0.00 USD - $3,000.00 USD   2.9% + $0.30 USD
$3,000.01 USD - $10,000.00 USD   2.5% + $0.30 USD
$10,000.01 USD - $100,000.00 USD   2.2% + $0.30 USD
> $100,000.00 USD   1.9% + $0.30 USD

[MOSES]

You can just process your card in someone's terminal and ask him to give you the money minus the fee's

[Yellow]

You can just process your card in someone's terminal and ask him to give you the money minus the fee's

hmmm how do I do this? Would my friend lose money from this?

[MOSES]

NO,
ask anyone with a terminal or any ecommerce online processing to process your card. you will have to pay around 2-3 percent though

[SuperFlyer]

hmmm how do I do this? Would my friend lose money from this?

No, he would not, unless he has a stupid accountant.

However as AS explained, it's not worth it, UNLESS, you can pay somewhere and get refunded to your bank account, with which you fund your paypal, and so on.

I wrote it on the forum, let see who has been paying attention  ;-)

[Avid Reader]

I wrote it on the forum, let see who has been paying attention  ;-)

You probably mean the online poker thing. I didn't understand how it works.

[Yellow]

You probably mean the online poker thing. I didn't understand how it works.

what are u talking about?
i feel so lost

[Yellow]

What if I pay my friend who owns a business 1000 dollars through my cc and when the payment posts to his account he pays me back via check? Would that work/be worth it???

[SuperFlyer]

what are u talking about?
i feel so lost

I guess you are not an enough devoted fan   ;-)

[SuperFlyer]

What if I pay my friend who owns a business 1000 dollars through my cc and when the payment posts to his account he pays me back via check? Would that work/be worth it???

as stated  above, bad idea, you will have to pay your friend in the best case some 1.5%

[SuperFlyer]

You probably mean the online poker thing. I didn't understand how it works.

you ARE an avid reader !

yes, I mean the poker thing, when you deposit say $1000, you cost them about $15, but they will take it on their cheshbon (like ever shop does),

Now if you want to cashout, they will do it to a bank account, understand.

There is one place that Ive done it for a while averaging 2000 a day, went through no problem. (but for the placed i used you cannot have a usa mailing address).

[Avid Reader]

you ARE an avid reader !

yes, I mean the poker thing, when you deposit say $1000, you cost them about $15, but they will take it on their cheshbon (like ever shop does),

Now if you want to cashout, they will do it to a bank account, understand.

There is one place that Ive done it for a while averaging 2000 a day, went through no problem. (but for the placed i used you cannot have a usa mailing address).

Thanks.
So is it hard to find a place in the US that will give you a cashout to a bank account, or is it illegal or something?

[SuperFlyer]

no, they lose 1.5% doing that

[hocker]

@superflyer i have an intl address can you tell me how to do this.

[Mikeoracle]

What if I pay my friend who owns a business 1000 dollars through my cc and when the payment posts to his account he pays me back via check? Would that work/be worth it???

@ dansdealfan
to clarify Superflyer's reply to your question- When your friend swipes your card he wont get the full $1000 since he has to pay a processing fee varying from 1.5-3% depending on the card and his processor, so there is no way he will want to give you the full $1000 because he will lose at least $15....
Although this idea can come in handy in an emergency situation where you have to meet a certain spending threshold and have little time left it might be worth it to pay the fee in order to hit the spending requirement. This is not the best way to do it but I guess in certain situations it might not be too bad.

[Yellow]

@ dansdealfan
to clarify Superflyer's reply to your question- When your friend swipes your card he wont get the full $1000 since he has to pay a processing fee varying from 1.5-3% depending on the card and his processor, so there is no way he will want to give you the full $1000 because he will lose at least $15....
Although this idea can come in handy in an emergency situation where you have to meet a certain spending threshold and have little time left it might be worth it to pay the fee in order to hit the spending requirement. This is not the best way to do it but I guess in certain situations it might not be too bad.

Thank you for clarifying, i really appreciate that. Its a good way to spend the 750 AA miles. 15 bucks is worth 25,000 miles!!
i think!

[SuperFlyer]

again, 1.5 is only for visa and master (depending the branch, it might be a little lower).

With amex you must be looking at a 2.9% to 3.5%

I'm probably from the few guys that got 1.7% for an amex, but wouldn't know how to sort that out with my accountant, plus you would need to be charged in euros.

[MOSES]

again, 1.5 is only for visa and master (depending the branch, it might be a little lower).

With amex you must be looking at a 2.9% to 3.5%

I'm probably from the few guys that got 1.7% for an amex, but wouldn't know how to sort that out with my accountant, plus you would need to be charged in euros.

what do you do?

[SuperFlyer]

a few things, for example (talking 1.7%) Ill send you a pm about, as Im not too keen in getting it all traced back to me.