Author Topic: Is it worth it to use paypal to spend and gain miles?  (Read 15955 times)

Offline Mikeoracle

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2008
  • Posts: 2037
  • Total likes: 68
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
  • Location: NJ
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #20 on: December 16, 2009, 03:05:25 PM »
Does anyone know if the CC company cares or will do anything about it if they find out you swiped at a friends terminal for whatever reason (i.e. mileage or if the friend needs short term cash for the business and will pay back ny the due date....) because no goods were actually sold and it was more of a cash advance?

Offline MOSES

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Oct 2009
  • Posts: 752
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #21 on: December 16, 2009, 04:57:58 PM »
How will they find out?

Offline Avid Reader

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2008
  • Posts: 4002
  • Total likes: 13
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: NYC
  • Programs: Starwood Gold, Accor Gold, Hilton Gold, Hertz Five Star Gold, Marriott Silver, National Executive
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #22 on: December 17, 2009, 09:53:13 AM »
Does anyone know if the CC company cares or will do anything about it if they find out you swiped at a friends terminal for whatever reason (i.e. mileage or if the friend needs short term cash for the business and will pay back ny the due date....) because no goods were actually sold and it was more of a cash advance?

I've never had a terminal to see the terms, but I highly doubt it is against the terms to swipe without selling goods. People sell services too, for example having a consultation with a professional, dry cleaning, gardening.

Perhaps someone with a terminal (SuperFlyer) can confirm this.

Offline bens

  • DansDeals Copper Elite
  • *
  • Join Date: Dec 2009
  • Posts: 9
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #23 on: December 17, 2009, 11:21:32 AM »
I've never had a terminal to see the terms, but I highly doubt it is against the terms to swipe without selling goods. People sell services too, for example having a consultation with a professional, dry cleaning, gardening.

Perhaps someone with a terminal (SuperFlyer) can confirm this.

According to V/MC/D and Amex regulations, Credit cards may only be used for purchased goods or services rendered. Processors will usually hold the fund from sales they deem as a cash advance.

Any credit card that has rewards will usualy cost the merchant (store owner) at least 2% usualy close to 3%.

Offline Avid Reader

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2008
  • Posts: 4002
  • Total likes: 13
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: NYC
  • Programs: Starwood Gold, Accor Gold, Hilton Gold, Hertz Five Star Gold, Marriott Silver, National Executive
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #24 on: December 17, 2009, 03:55:26 PM »
According to V/MC/D and Amex regulations, Credit cards may only be used for purchased goods or services rendered. Processors will usually hold the fund from sales they deem as a cash advance.

Any credit card that has rewards will usualy cost the merchant (store owner) at least 2% usualy close to 3%.

Thanks.

Are you saying if you have 2 of the same credit cards, like to Visa Chase cards, one with rewards and one without, the one with rewards will cost the merchant more?

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67598
  • Total likes: 16909
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #25 on: December 17, 2009, 05:03:32 PM »
Thanks.

Are you saying if you have 2 of the same credit cards, like to Visa Chase cards, one with rewards and one without, the one with rewards will cost the merchant more?
Yes, when I called about the costco merchant processing offer it was something like 1.6 for nonrewards and 1.8 for rewards.
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 MOSES

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Oct 2009
  • Posts: 752
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #26 on: December 17, 2009, 11:57:35 PM »
Yes, when I called about the costco merchant processing offer it was something like 1.6 for nonrewards and 1.8 for rewards.
costco is in the credit card proccesing business?

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67598
  • Total likes: 16909
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #27 on: December 18, 2009, 12:26:04 AM »
costco is in the credit card proccesing business?
No, but they always advertise an offer to take credit cards with a bonus for executive members and a free terminal , etc.
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 bens

  • DansDeals Copper Elite
  • *
  • Join Date: Dec 2009
  • Posts: 9
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #28 on: December 18, 2009, 09:44:58 AM »
No, but they always advertise an offer to take credit cards with a bonus for executive members and a free terminal , etc.

Costco sells processing for Elavon (another processor) They offer low qualified rates, but jack up the rates for non swipe, rewards, business cards...

Offline MOSES

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Oct 2009
  • Posts: 752
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #29 on: December 19, 2009, 10:22:50 PM »
Is it worth it to get costco? I actually need to get cc processing and was looking for good rates

Offline Avid Reader

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2008
  • Posts: 4002
  • Total likes: 13
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: NYC
  • Programs: Starwood Gold, Accor Gold, Hilton Gold, Hertz Five Star Gold, Marriott Silver, National Executive
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #30 on: December 19, 2009, 11:21:48 PM »
Costco sells processing for Elavon (another processor) They offer low qualified rates, but jack up the rates for non swipe, rewards, business cards...

So they jack up the rate on a biz card too? What else?

Offline bens

  • DansDeals Copper Elite
  • *
  • Join Date: Dec 2009
  • Posts: 9
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #31 on: December 23, 2009, 06:00:43 PM »
So they jack up the rate on a biz card too? What else?

There are over 350 different interchange card types, it all depends on how you are priced...

Offline flyer11204

  • Dansdeals Silver Elite
  • **
  • Join Date: Dec 2009
  • Posts: 96
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #32 on: December 26, 2009, 11:34:11 PM »
what is the best way to earn miles when you dont use the card a lot?

Offline mordys

  • Dansdeals Gold Elite
  • ***
  • Join Date: Nov 2009
  • Posts: 187
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #33 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?

Offline agug

  • DansDeals Copper Elite
  • *
  • Join Date: Dec 2009
  • Posts: 17
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #34 on: December 31, 2009, 03:06:13 AM »
why not use paypal

Offline SuperFlyer

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2009
  • Posts: 9351
  • Total likes: 414
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #35 on: December 31, 2009, 04:07:28 AM »
why not use paypal

Hi agug,

Here is a website that discusses it in depth: Click Here.

Offline agug

  • DansDeals Copper Elite
  • *
  • Join Date: Dec 2009
  • Posts: 17
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #36 on: December 31, 2009, 11:05:57 AM »
Hi agug,

Here is a website that discusses it in depth: Click Here.

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 was responding to the above post
« Last Edit: December 31, 2009, 11:08:35 AM by agug »

Offline SuperFlyer

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2009
  • Posts: 9351
  • Total likes: 414
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #37 on: December 31, 2009, 07:16:03 PM »
Maybe, but having a look at the acquirers website isn't illegal (at least not where I live).

Offline SuperFlyer

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2009
  • Posts: 9351
  • Total likes: 414
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Is it worth it to use paypal to spend and gain miles?
« Reply #38 on: April 15, 2010, 06:50:10 PM »
Here a print screen from what was discussed above:

« Last Edit: April 15, 2010, 06:55:47 PM by SuperFlyer »

Offline SuperFlyer

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2009
  • Posts: 9351
  • Total likes: 414
  • DansDeals.com Hat Tips 0
    • View Profile