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Paypal to offer cashback for NOT using credit cards

Paypal

I wonder how Visa and MC are going to take this since Paypal is essentially moving business away from them. I'm not sure if I will go for this option since the CC provides more protection than Paypal.
Mike

Comments



  • << <i>Paypal

    I wonder how Visa and MC are going to take this since Paypal is essentially moving business away from them. I'm not sure if I will go for this option since the CC provides more protection than Paypal. >>



    I get 1% back using my amex, and last year i got over $500 back (granted i bought more than baseball cards). If paypal offered 2% back, plus offered the same guarantee that my cc does, i would consider having it come directly out of my checking instead of using AMEX.
  • I just thought of something else....what this really means is that they may say initially they are giving cash back for non-use of cc, but what it really means is that, shortly there afterward they will probably raise their fees to the amount of the cash back incentive, so in essence what they are doing is charging more for the use of credit cards....
  • AllenAllen Posts: 7,165 ✭✭✭
    This is so you don't have credit card chargebacks to protect you. Paypal can care even less about your problem and not worry about your credit card company taking your funds back from them. Paypal might be worse than WalMart and I am surprised that there has not been an MSNBC special about it.
  • KbKardsKbKards Posts: 1,782 ✭✭✭
    Sounds like a deal to me. You get ripped off $1000 from a scammer. Paypal investigates and asks the scammer for your money back. Your money can't be recovered and since you didn't use a credit card to fund the purchase you'll stay ripped off for $1000 unless Paypal pays you back with their own money. The good news is that you just earned 2% cash back from your failed purchase.
  • storm888storm888 Posts: 11,701 ✭✭✭
    "This is so you don't have credit card chargebacks to protect you."

    //////////////////////////////////////

    Correct.

    Just another element of the largest RICO scam in the history of the internet.


    .............................

    On a related note, in France, today, a court noted PayPal as a contributor to the
    counterfeit operations that EBAY has been running for 10-years. EBAY claimed
    they were "unsophisticated and negligent;" the court said "EBAY is a counterfeiter,
    under French law." EBAY was fined thousand of dollars in each of three
    "fake handbag" cases.

    In post-sale consumer complaints, PP is the final arbiter as to "what is genuine."

    The precedent is FINALLY in place.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • Right now every time I make a purchase, they make my checking account the default, so I need to do a bunch of extra clicks to change it to credit card, then get a message recommending me not use credit card,etc

    It takes 3X longer because all that extra time needed.

    for small purchases like 20 dollars or less, I just pay it, but for anything higher I go to all the extra clicking to be protected by the credit card.
    Looking for in PSA graded
    1. 75-76 Topps Keith/Jamaal Wilkes in Psa 8+
    2. 1971-72 Trio stickers PSA 8+
    3. BSKB 1977-78 topps psa 10

    Basketball Autos
    1992 Courtside Flashback
    Action Packed HOF Autos(need elvin hayes,both bill bradley,and the 1st bill walton)
    2001 and 2005 Greats of the Game
    UD=retro,epic,legends,legendary,generations and chronology
    2006 Topps Style 1952 Fan Favorites Autos #/10 (Refractor Autos)
    Press Pass Legends
  • baseballfanbaseballfan Posts: 5,473 ✭✭✭
    i go with the credit card, if i didn't the one time i got burned by a seller i would have lost $400, since paypal was only going to refund .09 cents. the cc returned the funds and i was happy, one of the few times i have been happy with CC.
    i will continue with CC.
    Fred

    collecting RAW Topps baseball cards 1952 Highs to 1972. looking for collector grade (somewhere between psa 4-7 condition). let me know what you have, I'll take it, I want to finish sets, I must have something you can use for trade.

    looking for Topps 71-72 hi's-62-53-54-55-59, I have these sets started

  • jrinckjrinck Posts: 1,321 ✭✭
    I'd pay by bank account, but they insist on making the process take upwards of five days.

    With a credit card, payment is instant.
  • MorgothMorgoth Posts: 3,950 ✭✭✭
    Well yeah, they can hold your money and draw interest and not pay their CC fees. I recently paid more attention to a non CC paypal transaction and my money was gone from my account the same day of the transaction but paypal didn't release it until 5 days. It has never been 3 days.
    Currently completing the following registry sets: Cardinal HOF's, 1961 Pittsburgh Pirates Team, 1972 Pittsburgh Pirates Team, 1980 Pittsburgh Pirates Team, Bill Mazeroski Master & Basic Sets, Roberto Clemente Master & Basic Sets, Willie Stargell Master & Basic Sets and Terry Bradshaw Basic Set
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