PayPal debit card now offers 5% back on up to $1,0...
# creditc
clean-activity-38399
09/09/2024, 6:27 PMPayPal debit card now offers 5% back on up to $1,000 per month on one category that you choose from their list of options. https://www.cnbc.com/select/paypal-debit-card-earns-5percent-cash-back/
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loud-electrician-46499
09/25/2024, 11:33 PMFYI you can redeem this instantly, right after making a purchase
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thankful-intern-11611
09/26/2024, 3:53 PMCan I trust them to hold all my funds? Or I should only deposit $1000 per month
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nutritious-raincoat-28876
09/26/2024, 4:57 PMPersonally, I don't trust PayPal with anything for any amount of time. Based on a personal experience (from a long time ago) and much recent anecdotal evidence.
Part of the reason why I did not jump on this.
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nutritious-raincoat-28876
09/26/2024, 4:57 PMI'd happily use their cc if it had these benefits
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melodic-restaurant-25257
09/26/2024, 5:21 PMDoesn’t seem worth the hassle for a max benifit of $50/mo. Unless I’m missing something?
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thankful-intern-11611
09/26/2024, 5:23 PMLet's say I do auto transfer to PP and use the debit card only in grocery
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nutritious-raincoat-28876
09/26/2024, 5:27 PM$600/year tax free? How much time investment are we talking about?
A better argument would be the marginal benefit. Presumably one has 2% back already. Loss of interest in money in the account, etc.
But if $600/year after tax doesn't mean anything to you, you're on the wrong slack 😂
Some people think I'm crazy for having so many cc. But I know how little time investment it is and how much I'm actually saving. Not on each transaction, but long term. It's a significant amount if done right.
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melodic-restaurant-25257
09/26/2024, 5:36 PMI didn’t say it means nothing. I just think there are better ways to make a few extra bucks (opening checking accounts, churning credit cards) that are more worth the effort especially since we’re talking about $30 month as you pointed out.
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steep-dog-55906
09/26/2024, 5:36 PM@nutritious-raincoat-28876 I respectfully disagree and present the other POV: $600 a year tax free is a tradeoff in time and mental energy, a calculation which this slack very much promotes! It's not just the time investment of opening this account, using it, setting up automatic payments, and keeping it open or closing it. It's also the mindset of "I need to keep an ear out for new deals." For my brain well being, it works well that I get to ignore all these promotions and the cost-benefit analysis, and just stick to my standard cards :)
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steep-dog-55906
09/26/2024, 5:36 PMAlso, make that 27 a month if you take maaser on cash back :)
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nutritious-raincoat-28876
09/26/2024, 5:56 PMFair enough. @melodic-restaurant-25257 I apologize - I didn't intend to come across so strongly.
@steep-dog-55906 It seems there are different levels of mental energy for different people. I have around 15 active CCs and each one has basically no marginal effect on my psyche and time. But yeah, that's obviously not the case for everyone.
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