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About LinkBacksLet me make sure i understand this correctly; you are paying PayPal 3% and avoiding a 3% balance transfer fee? I know it is hard trying to find work and bills piling up but i hope and pray you find something soon and hopefully it will work out for you.
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Centurion Member
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- Aug 2011
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- Michigan
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Centurion Member
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- Jul 2011
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She is avoiding the BT fee (if the card even allows a BT) as well as not paying the cash advance APR with no grace period. Not a long-term solution, but a good alternative to taking a cash advance.
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Centurion Member
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- Aug 2011
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- Michigan
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Interesting, i guess where there is a wheel there is a way.
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Platinum Member
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- Aug 2011
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- USA
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NOT smart in my opinion or even a good alternative because PayPal can totally ding her for fraud if they ever catch on to what she is doing. Furthermore, PayPal is not a bank and has no guarantees like a bank might in regards to the security of her transfers.
Originally Posted by DavidNY
Avoiding fees is smart... but NOT if FRAUD - which then gets into legal matters which involves PayPal, the persons involved in everything, and the card companies or whoever else is involved - could be an issue.
Having some issues with credit is one thing. Having a history of fraud is still another. Period.
And NEVER, EVER trust PayPal with money you can't afford to lose. EVER.
I have a merchant account with PayPal. Being a 'seller'/'merchant', I get to see a lot of funny things every now and again including fraudulent charges. I cashed one out before thinking it was safe - it was a partial payment for a large contracted project I was working on - and almost a month later, it turned out to be a fraudulent payment which I then owed back since I had already cashed it out. It wasn't my fault as I did nothing wrong, but I definitely lost out on money I was owed and money I definitely needed.Personal Collection:
AMEX: Blue, Macy's (cobranded)
MASTER: Citibank Dividend Platinum Select (non-World version)
VISA: Chase Amazon Signature, Chase (bank issued)
GE: Care Credit (medical expenses), Macy's (store), JCP (store)
Business Collection:
AMEX: Costco True Earnings
MASTER: None
VISA: Chase Ink Cash
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Green Member
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- Jan 2012
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- United States
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how is that fraud ??? avoid getting shafted = fraud??
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Green Member
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- Apr 2012
- Location
- Midwest
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- 3
Hi I have a similar question. I want to start transferring my credit card balances to my husbands at about $500-$1,000 a month until mine are zeroed and we can close them out.
I didn't realize this wasn't allowed. I have a few cards with balances less than $3,000 but one large one. He has credit cards with no limits. Is there a way I can start shuffling my balances to him without actually exchanging cash? I can do the PayPal thing too I suppose for this purpose. Thanks.
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Centurion Member
- Join Date
- Jun 2011
- Location
- Down South
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- 196
0% interest convenience checks are the way to go with this situation. I'm going to use some convenience checks to pay down my last card that has a sizable balance. Then I am going to pay it all the way off without paying anymore interest.
Cards
Visa: BofA Cash rewards Visa Signature (1% on everything)
Kroger 123 Rewards Visa, Ascend FCU Platinum Visa (1% back), Penfed Platinum Cash Rewards Visa (5% on Gas)
BofA Cash Reward Platinum Plus (1% on everything, 2%on groceries, 3% on gas), Penfed Platinum Rewards Visa ( 5 points on gas, 3 points on groceries, 1 point on everything else)
Discover: Discover More (5% back rotating categories), Discover Miles (2% on travel and restaurants, double miles on phone, internet, and tv
Amex: Gold Card, BofA Accelerated Cash Rewards (1.5% on everything)
Express Store card (points for gift certificates and special deals)
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Centurion Member
- Join Date
- Dec 2010
- Location
- Florida
- Posts
- 209
Even if you Paypal there will be a fee for CC transaction. Pretty sure it is 2.9% + $5 or something like that. Originally Posted by Brenna
He could call his CC bank and ask for convenience checks, or request a payoff over the phone.
I'd be interested to know what "credit card" he has with no limit. I have a couple of CHARGE cards with no preset limit, but all of my and everyone else I know's credit card has a hard limit, even if it is $50k or more.Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan
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Green Member
- Join Date
- Apr 2012
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- Midwest
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Yes, you're right, sorry wasn't careful with my terms.I'd be interested to know what "credit card" he has with no limit. I have a couple of CHARGE cards with no preset limit, but all of my and everyone else I know's credit card has a hard limit, even if it is $50k or more.
I have had these included with my statement before but I'm almost completely paperless now, how do you get them?0% interest convenience checks are the way to go with this situation.
As for paypal, can I set up both cards on it and transfer the money or does he actually have to withdraw physical funds and then pay that on his card?
Has anyone negotiated with a company for a consolidation and if so which one made the best arrangement for you? I'm talking about balances under 2,000 but on five or six different credit cards I had before we were married. Between us we have TEN credit cards. I'd like to just pay one bill. Husband doesn't want to do a loan and income wise we really shouldn't have to, but paying all these bills and different interest rates is getting confusing, lol
Thanks for your replies. Great Forum. I see folks listing all their different cards, mine's a decent list
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