Is using your credit card on PayPal a cash advance?
CASH ADVANCE FEE CAPITAL ONE PLUS
PayPal charges a 2.9% fee plus 30 cents for the service. You can use your PayPal-linked credit card to send money to family and friends. They're treated like retail transactions and shouldn't incur additional bank fees. PayPal doesn’t charge a fee on credit card payments for goods and services, but it charges a 2.9% fee on money sent to friends or family members. Does PayPal or my bank charge a fee for using a credit card? Points can be redeemed for gift cards, travel vouchers and cash back. Other purchases earn 1 point per dollar spent. The PayPal Extras Mastercard awards 3 points per dollar spent at gas stations and restaurants, and 2 points per dollar on PayPal and Ebay purchases. (Photo by John Gribben for The Points Guy) Typically, non-bonus categories earn 1% cash back with the Chase Freedom card. Last year, it made PayPal one of those categories. Like the Discover it Cash Back card, the Chase Freedom card (No longer open to new applicants) offers 5% cash back in select rotating quarterly bonus categories (on the first $1,500 in purchases each quarter you activate). Related reading: Discover adds extra 5% cash back categories at PayPal, Target and Walmart Issuers like Chase, Citibank and Discover have offered bonus rewards promotions on PayPal payments in the past year.ĭiscover made PayPal a 5% cash back category for Discover it Cash Back holders from June through September in 2019. Sometimes you'll be able to earn more by using your credit card in conjunction with PayPal. Any Visa, Mastercard, Discover or American Express card with a registered billing address can be used with PayPal. PayPal users can add multiple cards to their accounts, making it easy to rack up rewards from a number of programs at once.
Several major retailers accept PayPal payments in-store and online including, Best Buy, Bed Bath & Beyond, Etsy, Brookstone, Home Depot and IKEA. You'll earn rewards as you would with any other purchase. Just link your card to your PayPal account at the website and select the card when making payments. Using your credit card to earn rewards with PayPal is easy. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)
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