Paypal Mastercard

[Graeth]

I asked this some time ago with no clear answer, so I thought that I'd ask again since I just found out that there's a 6 month cap on accruing funds.
Who here has been verified by applying for the Paypal Mastercard?
What are the downsides?
Annual Fees? Monthly Fees? Etc?


Thanks.

[dmalsbury]

downside? You will get a hit on your credit report for a new credit card.

[oldbuddy]

I have had one for years and there is no downside that I ever saw. It's not a hit on your credit because it's a DEBIT card and limited to funds on hand.

[Administrator]

PayPal has two different cards... one is a mastercard debit card linked to your paypal account (which is free and easy to get- no credit check required) [ what oldbuddy is talking about ].  the other is the paypal credit mastercard which is a traditional credit card (with some paypal related benefits).  if you apply for and get approved for the paypal credit mastercard, it's a secondary way to verify your paypal account (instead of linking a bank account).  since paypal gets your ssn and runs a credit report, they know enough about you to give you verified status.  i have heard of people doing this but i don't think it's common.  as for drawbacks i don't know of any big ones but you should of course check for any annual fees or other fees that look out of the ordinary.  and of course realize that it's a small ding to your credit (or no ding.... or a big ding... depending on your history) when they run your report.

[joybellyr4]

I had a  PayPal CC years ago, the think I didn't like are the transactions charges.

[dmorgia]

Oldbuddy can you use those PayPal debit cards for credit card offers?

[Graeth]

I had a  PayPal CC years ago, the think I didn't like are the transactions charges.

Okay, so there are overhead charges.
Thanks

[Administrator]

As far as I know the only transactional charged related to PayPal cards is the ATM fee when you withdraw money using the debit card at an ATM.  I think they charge you $1-2 and thats plus whatever the ATM company charges you.

[oldbuddy]

Oldbuddy can you use those PayPal debit cards for credit card offers?

Each offer has different rules, but I have on several of them.

[oldbuddy]

PayPal has two different cards... one is a mastercard debit card linked to your paypal account (which is free and easy to get- no credit check required) [ what oldbuddy is talking about ].  the other is the paypal credit mastercard which is a traditional credit card (with some paypal related benefits).  if you apply for and get approved for the paypal credit mastercard, it's a secondary way to verify your paypal account (instead of linking a bank account).  since paypal gets your ssn and runs a credit report, they know enough about you to give you verified status.  i have heard of people doing this but i don't think it's common.  as for drawbacks i don't know of any big ones but you should of course check for any annual fees or other fees that look out of the ordinary.  and of course realize that it's a small ding to your credit (or no ding.... or a big ding... depending on your history) when they run your report.

Now that you mention it, I have seen the credit card on PayPal. Thanks for clearing that up for us.