Anyone else have the Paypal mastercard?

[gabyyyyy]

Just got one in the mail about 3 weeks ago. We sell some stuff on e-bay and use the card for various things.

The coolest thing is that we get 1.5 % cashback for every purchase we make.

I just loaded 2 grand from our bank account to paypal just for everyday purchases. I think this is kinda neat, we get 1.5 % back for purchases that we would have made anyway.

[BradleyT]

Yep I have the one that takes the money out of your paypal account.

Used it about 40 times at the casino to withdraw $400 last year tho /images/graemlins/frown.gif

[AncientPC]

Nice, doesn't Discover offer 2% cash back though?

Although more places take MC over Discover.

Don't forget, ING Direct offers 2.25% on savings account no minimum balance (PM me for referral, you get $25 I get $10 /images/graemlins/tongue.gif).

[CWsports]

Discover is 1% in cash and 2% if you redeem them for gift certificates, etc.

[AncientPC]

Didn't know that.

I'm actually looking at some CC's to apply for my gf and thought about Amex Blue Cash:
https://www124.americanexpress.com/cards/loyalty.do?page=bluecash.maximize

It's 5% after you jump through some hoops, like spending $6k/year on the card and maintaining a balance to get the additional 2%. However I was thinking what if you paid off everything but $1 on the card (to clear the remaining balance requirement) and still get the 2% extra cash back.

Edit: I am referring to Amex Blue Cash which is not the same as Amex Blue.

[moondogg]

Does the AMEX Blue card give you the same reward points as the green card?

[Gotmilk]

I used to have Blue, I don't remember. It was student version of it.

I remember my paypal debit card from my bonus whoring days :-) man it was nice.

[Lagniappe]

[ QUOTE ]
It's 5% after you jump through some hoops, like spending $6k/year on the card and maintaining a balance to get the additional 2%. However I was thinking what if you paid off everything but $1 on the card (to clear the remaining balance requirement) and still get the 2% extra cash back.

[/ QUOTE ]

From the fine print on the card:
[ QUOTE ]
Average Daily Balance Method For Calculation Of Finance Charges
We use the Average Daily Balance method to calculate Finance Charges on your Account. Under this method, we figure the Finance Charges on your Account by applying the DPR to the Average Daily Balance (as described below) for each feature of your Account (including current transactions). Different periodic rates may be used against the balances of different features of your Account. For example, different DPRs may be applied to separate features, such as Purchases, Cash Advances, and Balance Transfers. To get the Average Daily Balance for each feature, we (1) take the beginning balance for the feature each day (including unpaid Finance Charges from previous billing periods), (2) add any new transactions, debits, or fees, (3) subtract any payments or credits, and (4) make any appropriate adjustments. For each day after the first day of the billing period, we also add an amount of interest equal to the previous day’s daily balance multiplied by the DPR for the feature. This gives us the daily balance for the feature for that day and the beginning balance for the feature for the next day. If this balance is negative, it is considered to be zero. Then, we add up all the daily balances for each feature for the billing period and divide the total by the number of days in the billing period. This gives us the Average Daily Balance for the feature.<font color="red"> For all features except Cash Advances and certain promotions, the Average Daily Balance will be considered to be zero if you paid the New Balance, if any, shown on your previous month's statement by the Payment Due Date shown on that statement. </font> If you multiply the Average Daily Balance for each feature by the number of days in the billing period and the DPR for that feature, the result will be the Finance Charge assessed on that feature, except for variations caused by rounding. The total Finance Charge for the billing period is calculated by adding the Finance Charges assessed on all features of the Account. This method of calculating the Average Daily Balance and Finance Charge results in daily compounding of Finance Charges. We may use mathematical formulas which produce equivalent results to calculate the Average Daily Balance, Finance Charge, and related amounts. For example, we may utilize computer programs or other computational methods that are designed to produce mathematically equivalent results while using fewer and/or simpler computational steps than are described in this Agreement. All fees are included in the daily balance for Purchases, except fees associated with Cash Advances, which are included in the daily balance associated with the corresponding Cash Advance. At our discretion, we may exclude certain categories of debit transactions or fees from the calculation of the daily balances. The solicitation or other disclosure for any promotional offer will determine the terms of the promotional offer, including whether, after the expiration of any designated promotional period, such promotional balance will be included in the daily balance for Purchases or the daily balance for Cash Advances. Unless we elect to use a later date, we add a Cash Advance, Balance Transfer, or Purchase to the daily balance for Cash Advances, Balance Transfers, or Purchases, as appropriate, as of the transaction date. Finance Charges are added to the outstanding balance at the end of the billing period for which Finance Charges are calculated. The minimum Finance Charge for any billing in which they are imposed is $0.50

[/ QUOTE ]

So, while carrying a balance of $1 would get you the extra 2% cash back, your next month's purchases would start to rack up finance charges. I ran the numbers and even without including the the daily rolled over interest, you end up paying more in finance charges than the extra 2% pays you back.

[WSOPWinner2005]

Old lady uses it all the time... Those pennies do add up when you spend a thousand plus a month with the thing for buying and reselling her Ebay stuff..

[Alobar]

not only do you get % cash back on your purchases, you also get a % interest on the balance in your account.

If neteller did this I would jizz all over myself in joy

[siccjay]

I have a Paypal debit card. I try to use it for everything I buy.