Author Topic: Is it worth it to use paypal to spend and gain miles? (Read 16139 times)

Yoel · « **Reply #40 on:** April 15, 2010, 11:04:31 PM »

PayPal does not differentiate between a rewards credit card or American express. It is one flat rate.

Yoel · « **Reply #41 on:** April 15, 2010, 11:07:57 PM »

Quote from: mordys on December 30, 2009, 05:20:21 PM

Can someone provide more info on aquiring a terminal, rates and info needed to be supplied to the processer.
I'm thinking of someone buying Amex gift cards through Mr Rebates, which gives 3% cashback, then getting the money out by using their terminal. The 3% should cover the fees and you'll rack up the points for buying the giftcards on a rewards credit card.
Anyone have thoughts?

I only see 1 % for Amex gift card on MR Rebates

Daniel · « **Reply #42 on:** April 25, 2010, 07:23:53 AM »

FYI:

Chase Debit Cards are now posting PayPal transaction as PIN transactions and not credit transactions. I'm waiting to see how they post the national debt donation- should be fine, but we'll see.

aaa · « **Reply #43 on:** April 26, 2010, 10:45:06 PM »

Quote from: Daniel on April 25, 2010, 07:23:53 AM

FYI:

Chase Debit Cards are now posting PayPal transaction as PIN transactions and not credit transactions. I'm waiting to see how they post the national debt donation- should be fine, but we'll see.

How do you know which way they are posting? thanks

Daniel · « **Reply #44 on:** April 27, 2010, 07:46:38 AM »

Quote from: aaa on April 26, 2010, 10:45:06 PM

How do you know which way they are posting? thanks

If it says *CA* before the transaction it posted as a credit purchase which earns miles

MarkS · « **Reply #45 on:** May 27, 2010, 09:00:54 AM »

There is an option on Paypal to "Gift' $$ to a friend. I believe there are no fees involved. Would that work to Gift someone $ through Paypal, drawing on your CC?

Chaikel · « **Reply #46 on:** May 27, 2010, 02:01:48 PM »

The the fee free "Personal Payments" are only from a bank account or PP balance.

Mikeoracle · « **Reply #47 on:** June 27, 2010, 08:55:47 PM »

Quote from: Chaikel on May 27, 2010, 02:01:48 PM

The the fee free "Personal Payments" are only from a bank account or PP balance.

Is there a maximum amount allowed for the fee free "personal payments"?

MarkS · « **Reply #48 on:** June 27, 2010, 08:58:56 PM »

I don't think so, but how would that help you earn miles?

Avid Reader · « **Reply #49 on:** June 27, 2010, 09:03:54 PM »

Would work for a cash advance.

Mikeoracle · « **Reply #50 on:** June 27, 2010, 09:08:03 PM »

Quote from: MarkS on June 27, 2010, 08:58:56 PM

I don't think so, but how would that help you earn miles?

It wouldnt, Just work out payment terms on a deal and we are thinking about using the feature to avoid fees.

Q274 · « **Reply #51 on:** December 14, 2010, 09:32:40 PM »

Ok try this one on, how about using paypal to get the 15,000 bonus points on your starwoods account. Yes you will have to pay (about 236.30). BUt think about it you will benefit 25,000 points. (10,000 points for spending and 15,000 for the bonus) Now you are looking at a little over 1 cent per point, what is wrong with that idea?

MarkS · « **Reply #52 on:** December 14, 2010, 10:09:31 PM »

I recently added a bank account to my paypal account, and sent someone a 'gift' of $800 drawing on that account. For some reason that account didn't work so they took the $ from my CC without charging any fees!

But now they won't let me attempt to use that bank account again unless I verify it with documents etc.

mancunian · « **Reply #53 on:** December 14, 2010, 11:53:05 PM »

wow!
so when your ready to close these suntrust accounts...

AsherO · « **Reply #54 on:** December 15, 2010, 12:00:08 AM »

There are a few risks:

1. NSF fee incurred with SunTrust.
2. Negative reporting to ChexSystems or a similar company.
3. Getting banned on paypal for abuse.

Q274 · « **Reply #55 on:** December 15, 2010, 12:02:05 AM »

No but seriously asher0 help me out please, what do you think abt using paypal for the 15000 bonus points? I am seriously looking into it don't know if there are any issues.

elikay · « **Reply #56 on:** December 15, 2010, 12:03:42 AM »

Quote from: mancunian on December 14, 2010, 11:53:05 PM

wow!
so when your ready to close these suntrust accounts...

I had a similar thing occur to me on paypal, I mistakenly let it go to the bank account (which is the @#$! default in paypal) and it had been closed already so it removed my account and used the CC as backup. Now thankfully I only have a CC on that paypal account so that is the default payment method. (unless of course you have a paypal balance

AsherO · « **Reply #57 on:** December 15, 2010, 12:07:09 AM »

Quote from: Jackness on December 15, 2010, 12:02:05 AM

No but seriously asher0 help me out please, what do you think abt using paypal for the 15000 bonus points? I am seriously looking into it don't know if there are any issues.

Here are some possible risks I could think of:
1. Amex F/R due to sudden $15,000 paypal charge.
2. IRS problems due to transferring more than 10K at a time.
3. Paypal recipient not paying you the money, which would result in a $15,000 loss.

Otherwise, go for it. Just don't transfer $15K to yourself via paypal, or they might freeze your account.

elikay · « **Reply #58 on:** December 15, 2010, 12:07:45 AM »

If you think its worth it then do it. Btw good luck explaining to paypal what you sold for 15000 Dollars, (otherwise I believe it will post as cash advance).

AsherO · « **Reply #59 on:** December 15, 2010, 12:10:26 AM »

Quote from: elikay on December 15, 2010, 12:03:42 AM

I had a similar thing occur to me on paypal, I mistakenly let it go to the bank account (which is the @#$! default in paypal) and it had been closed already so it removed my account and used the CC as backup. Now thankfully I only have a CC on that paypal account so that is the default payment method. (unless of course you have a paypal balance

How do you now cash-out your paypal balance?