Question about using CC with paypal
stown
Posts: 11,321 ✭✭✭
Based upon many experiences here, I want to use my credit card for future transactions on paypal.
Here's my question. Is the transaction considered a charge or cash advance because there's a huge difference. If it's a normal charge, it's just like every other cc transaction. Pay the card's bill in full at the end of the month and there no finance charges. If this is the case, it would make sense to always use a credit card (additional protection, can come up with funds when the bill is due, and get additional frequent flyer miles
)
However, if it's considered a cash advance, I get popped with interest based upon my average daily balance, regardless if I pay my bill in full the following month or not. It's like 20-something % componded up the wazoo. Might as well pay with funds from my banking account.
Does that make sense?
Here's my question. Is the transaction considered a charge or cash advance because there's a huge difference. If it's a normal charge, it's just like every other cc transaction. Pay the card's bill in full at the end of the month and there no finance charges. If this is the case, it would make sense to always use a credit card (additional protection, can come up with funds when the bill is due, and get additional frequent flyer miles
)However, if it's considered a cash advance, I get popped with interest based upon my average daily balance, regardless if I pay my bill in full the following month or not. It's like 20-something % componded up the wazoo. Might as well pay with funds from my banking account.
Does that make sense?
So basically my kid won't be able to go to college, but at least I'll have a set where the three most expensive cards are of a player I despise ~ CDsNuts
0
Comments
When i use my CC it is considered a charge. not a cash advance.
Steve
I've done a cash advance once in Vegas (big mistake). Even though I paid my bill in full, they popped me hard.
Don't want to make that mistake twice
Hope this helps.
Arthur
Edited to add: Of course, I alwasy include a picture of Chuck Norris crouched and ready to attack every month with my bill. They immediately lowered my interest rate on all transactions to zero.
But, if you have a dispute, it's best to try and resolve it - first - thru paypal - if for any reason they can't help you or you waited too long - then hit the credit card.
They will offer an immediate credit which will be taken back if you don't make your case - if I recollect properly.
Interestingly - when I went to paypal - and this was about 3 yrs ago - they said they couldn't do anything - so I went to my credit card company - only to see that paypal did go to the seller requiring him to make good - that part I got from the seller - let's just say he was pissed and I don't get Christmas cards from him!
mike