I realize they are anti-gun, but it seemed like the only option for easy sales and shopping.

I normally pay the balance when it comes and avoid interest charges. Just noticed that they are charging interest from the minute you purchase.

What is Venmo? Any better shopping tools?

Apple Pay if your on apple products. Very easy and secure.

quote:

Originally posted by mike56:
I normally pay the balance when it comes and avoid interest charges. Just noticed that they are charging interest from the minute you purchase.

Paypal accounts don't charge interest. They're just a payment facilitator. Your Paypal account pulls from whatever specific payment method you choose. This can be directly from a bank account, or you can also hook it to any credit card of your choosing.

However, Paypal does offer their own in-house credit card, which you can apply for and use as your chosen method of payment for your Paypal account. In that case, like any other credit card, you are charged interest on monthly balance carryovers.

But you aren't required to get the Paypal credit card to have a Paypal account. You can use whatever payment method you want.

quote:

What is Venmo?

A competitor to Paypal. Operates in the same manner, where you create an account, then hook it to whatever payment method you want.

Zelle is another popular payment facilitator, as are Apple Pay, Google Pay, etc.

But none of these are as big or as widely accepted as Paypal.

RogueJSK nailed it.

There are plenty of complaints about PayPal. Personally, I've yet to have had a problem with them in the twenty years I've used them. In fact: One time they came through with a refund for an item I'd been sold which was Significantly Not As Described (SNAD) when eBay would not.

I started using Venmo last summer, so I could easily reimburse a neighbour's son for greens fees. I've only ever used it the one time.

I've never used Apple Pay except with known, established merchants, but I was able to use my Apple Cash balance with one, which I thought was cool

I don't use Zelle. Not because I have anything against it, but because I haven't had the need.

PayPal, compared to a VISA/MC account that pays rebates, never made much sense to me.

I have an account there solely for transactions that aren't good for credit cards, and I don't have PayPal pull from an account that charges interest.

So, for me, the option instead of PayPal is the good ol' credit card. They (the bank) eats the risk of fraud, I get to use their money for free, I can dispute the charges later, and on my VISA there are purchase-protection features, and get a rebate into the bargain.

quote:

Originally posted by joel9507:
PayPal, compared to a VISA/MC account that pays rebates, never made much sense to me.

It's not either/or... Set your Paypal account to use your Rewards Visa/MC credit card for payments. You then get the ease of use of Paypal, combined with the rewards/rebates from your credit card.

That's what I do.

Plus there are online stores out there that only accept payments through Paypal. So you don't have the option of just using your credit card by itself.

(Again, a Paypal account isn't a replacement for your credit card. It's just a means through which you can use your existing credit card(s) to make online payments.)

quote:

Originally posted by bigeinkcmo:
And if you build up a PP balance, say by being paid by some via PP, then you just use that balance first before your credit card is charged.

It'd be better to use your credit card for the full purchase, so you get the credit card rewards on the total amount.

If I ever get an incoming PP payment, I always immediately transfer it to my checking account, and then continue to use my Rewards CC for all outgoing purchases through Paypal.

quote:

Originally posted by mike56:
I realize they are anti-gun, but it seemed like the only option for easy sales and shopping.

I normally pay the balance when it comes and avoid interest charges. Just noticed that they are charging interest from the minute you purchase.

What is Venmo? Any better shopping tools?

If you're using PayPal to 'Send Money', the transaction, if funded with a Credit Card, 'can' incur a Cash Advance fee (on top of the PayPal fee) and immediately start accruing interest charges. Here's why...

Due to Financial reform legislation passed in Sept. 2019, Cash Payments via PayPal, Venmo, etc where a Credit Card is the funding source of the transaction can be considered a 'Cash Advance' by the Issuer. Further, as a Cash Advance, these payments have an extra transaction fee from many Banks and start accruing interest immediately. I've contacted my Credit Card issuer (Wells Fargo) to confirm, and they indicated they are definitely charging the extra fee's/interest on these transactions. Your Credit Card Issuer may be doing the same and if that's the case, the only way around this is to use a Bank Account as the source for the funds.

There is also a PayPal option to use "PayPal Credit"; if you spend at least $99, it is interest-free for six months. I've used it many times to purchase firearm accessories. You can split the payments over the course of the six months. No interest due if paid off within the six months.

Venmo is owned by PayPal