credit card via Paypal

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3 posts
amer191
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credit card via Paypal

Postby amer191 » Tue Jan 13, 2009 3:54 pm

I want to do a credit card cash advance with Paypal. That way I can send myself money and not pay the exorbitant interest rates on cash advances.

Would this be allowed by the credit card issuer? Would sending money via Paypal of a large amount raise any red flags for my spending patterns or anything else? I think there are plenty of companies/services like Paypal that offer users the same feature of sending money using a credit card- if via Paypal cash advance raises a flag I can use a different service I suppose.

If any of you have had experience with it or if you know if the credit card banks allow it, please let me know.


Multi-Purpose
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Postby Multi-Purpose » Wed Jan 14, 2009 12:06 am

I don't know why a credit card cash advance using Paypal wouldn't be allowed? But like they say READ THE FINE PRINT on your card to make sure it's a-okay.

Paypal charges 3% in fees too you need to make sure you add in that amount when figuring out if it is worth it or not to do. If you did it with a 0% balance transfer offer it then would be. Who knows though if enough people do this credit card via Paypal idea it could cause a problem and creditors will start keeping an eye out for it and regulating it. With that said if I were you I wouldn't shout this from your rooftop for your neighbors to do. ;)
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amer191
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Postby amer191 » Sun Jan 18, 2009 6:30 pm

I can't find anything in the rulles and regulations that would say otherwise. I guess my main concern is not that it is outright wrong but that it will get my account flagged. I read on another on Credit Card Forum (I believe it was in the American Express forum) last time I was here that said Paypal transactions may trigger your account as a suspicious charge and if you have too many of them you can be in trouble. I think I'll go ahead and try give my credit card via Paypal idea a shot but what amount should I do? I think I should do this once with a higher amount instead of more than once with lower amounts. That way it's a one time thing at least if it's bad.



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