posted on May 31, 2006 07:08:38 AM new
For those of you using PayPal credit card to get the 1% back, look out. Things just became far more restrictive.
Amendment to the PayPal MasterCard ATM/ Debit Card User Agreement
Notice Date: April 19, 2006
Effective Date: May 18, 2006
Beginning May 18, 2006, the eligibility requirements for the PayPal Preferred Rewards 1% cashback program will be changed. To be eligible for PayPal Preferred Rewards you will have to complete the following: (1) Obtain and activate a PayPal Debit Card, (2) Provide your business information, (3) If you list items for sale on eBay, turn on the PayPal Preferred Preference for all your eBay listings and show PayPal as the only online payment option that you advertise, and (4) If you sell items on your own Website or on a marketplace other than eBay, promote PayPal as your preferred payment option.
posted on May 31, 2006 07:18:35 AM new
Well, I am sure glad I don't have to depend on a paypal debit card! They just control too much. They can set the rules anyway they want and get away with it because there is no competition. Where's bidpay? I hope they come back soon. That was one of the few good competitors of paypal that was worth anything
posted on May 31, 2006 03:55:38 PM new
Why would anyone even want to have a debit card in their name that is not backed by a Bank and the associated banking regulators? 1% cashback debit or credit cards are a dime a dozen from legitimate financial institutions.
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on May 31, 2006 04:09:36 PM new"Why would anyone even want to have a debit card in their name that is not backed by a Bank and the associated banking regulators?"
Why not?
When someone purchases from me, I place the order with my vendor charged against my DEBIT CARD -- that grandfathered 1.5% REBATE sure LOWERS my effective PP fees dramatically!
I try to pay for all eBay expenses with my PP DEBIT CARD...I love it!
I've had it ever since it arrived on the scene (?4 years?) and have never had any problems...
posted on May 31, 2006 04:28:55 PM new
<<I've had it ever since it arrived on the scene (?4 years?) and have never had any problems...>>
I once bought a brand new Oldsmobile 98. It came equipped with Firestone 500 tires. In spite of the warnings in the media, and Firestone's reluctance to do a recall, I drove on them for over 2 years with no problems at all. Until one day in August when the temp was over 105 degrees and the stretch of freeway I was driving on was hot enough to fry an egg........
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on May 31, 2006 08:02:50 PM new
I'm with Tom. Been using the PP Debit Card for all my ebay, Vendio and associated fee's since I got it. Luckily I'm like him and have one of the 1.5% grandfathered in cards (thank god). Never had a problem here either.
Sparkz - I think you seem to forget the card only sais PayPal on the front. It is actually issued by a real bank. The back of mine clearly states it is issued by Bank One of Indiana. I don't see Bank One blowing any tires anytime soon.
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
posted on May 31, 2006 09:55:58 PM new
I have the PP card and get cash back which is very nice to offset fees. I am just wondering since I turned it off last sunday for just one auction will it affect my card. I plan to turn on the features required after the auction but didn't want to take Paypal for this one auction. Hum anyone with thoughts on this? Be about right they defunct my card because I turned off the Paypal preferred.
If I turn it back on will it show up on that auction now that it has been listed since sunday?? Advice please.
Oh I just looked got my cash back today at 3 places so maybe they won't catch it before I turn it back on???
**************
Some minds are like concrete,
thoroughly mixed up and permanently set.
[ edited by irked on May 31, 2006 09:57 PM ]
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein