Just to share some info, the PayPal debit card codes Costco in-store purchases as grocery and earns 5%. I’ve used it several times for this. Also, Walmart counts as grocery on this card.
This has been my go-to grocery card for a while and I have no complaints! The only minor hassle is needing to reload your PayPal balance. But getting another 5% cashback category with no hard inquiry and no new credit account is a great deal.
Seriously, what is PayPal doing? They downgrade the credit card from 2% to 1.5% and add foreign transaction fees. Maybe it’s the new CEO, but they seem to be making odd choices. Unlike Fidelity, which is improving its 2% card. I fear their focus on a debit card will lead to cuts too, sooner or later.
@Finian
PayPal is actually taking a smart approach. They’re trying to bypass the payment systems. Right now, they’re losing money on the debit cards regarding points, but just look at how many stores are now allowing you to check out with PayPal in person. It’s a long-term strategy that could pay off.
@Finian
I recently got the USB Smartly card since my PayPal card isn’t great anymore.
@Finian
Did Fidelity announce any improvements?
Zaren said:
@Finian
Did Fidelity announce any improvements?
I think they are referring to the pre-check credit feature.
Zaren said:
@Finian
Did Fidelity announce any improvements?
I think they are referring to the pre-check credit feature.
And doing away with foreign transaction fees.
Zaren said:
@Finian
Did Fidelity announce any improvements?
I think they are referring to the pre-check credit feature.
And more details here https://www.fidelity.com/spend-save/visa-signature-card
Zaren said:
@Finian
Did Fidelity announce any improvements?
Yes, they have waived foreign currency fees so you can get 2% globally, and rental car insurance has improved for us. https://www.fidelity.com/spend-save/visa-signature-card
@Finian
That might be a result of Synchrony’s changes.
@Finian
Yeah, PayPal’s been pretty unpredictable lately with these updates.
Enjoy this while you can! This looks like a loss leader strategy from PayPal, although it’s unclear what the end goal is.
JewelHoneybucks said:
Enjoy this while you can! This looks like a loss leader strategy from PayPal, although it’s unclear what the end goal is.
I wonder if they’ll add any new features to the PayPal balance account to encourage people to keep more money with them. I’m not sure, but there’s really no risk in using the PayPal debit card for now, aside from having to deal with PayPal (which some people dislike).
JewelHoneybucks said:
Enjoy this while you can! This looks like a loss leader strategy from PayPal, although it’s unclear what the end goal is.
I keep an eye on PayPal and this seems all about creating habits and boosting user engagement. People using the debit card may be drawn to their digital wallet and various cashback offers.
This is really useful for me. I’ve been searching for ways to boost my cashback at Costco. Thanks!
Evans said:
This is really useful for me. I’ve been searching for ways to boost my cashback at Costco. Thanks!
Absolutely! Same here!
Awesome! Thanks for sharing. The PayPal debit card is pretty powerful.
Does anyone know how to use Amex Send & Split to reload the card? I heard some people mention it when the new debit card came out, but I couldn’t figure out how they did it.
This also opens up a category for the Venmo credit card.
Kelby said:
This also opens up a category for the Venmo credit card.
You can transfer funds between Venmo and PayPal if you have both debit cards! 