Using Credit Card On Paypal? Or Ebay?

OMAR

Can I use my barclaycard to pay money into my current account by using the above methods, for a couple of months till I pay it off? It saves me paying 21.9% on a cash advance and paying 11.9 instead.

Any thoughts appreciated.

heppy23

Are you talking about moving money from your barclaycard to your bank account via paypal?

I stand to be corrected but I think that when the money comes from a credit card then paypal take a chunk (a couple of quid plus a %age).

What are you trying to do? If you are trying to let your bank account build up a bit then you can use the credit card for everything without touching the money in the bank. Do bear in mind it's still got to be paid back at the end of the day!

stevo84_2

omar,

do you mean load say £500 in to paypal from your barclaycard so paupal is +£500, bc is -£500, then withdraw from paypal to bank account so bc -£500 and bank account +£500??

Do not know quite if this would / would not work or what fees are involved, although i will take a look.

Interesting post.

Steve

stevo84_2

Just looked in to paypal and I do not think that you can actually add funds in to your paypal account via a credit card. Will investigate further tho :rolleyes: .

Also while on paypal subject, if an ebay item is paid via credit card via paypal is that classed as a purchase or a cash withdrawal (would assume purchase but never thought about it)?

Steve

mm66

You cant add funds to your account but you can pay via paypal and use the credit card. for e.g if you bought something and got a paypal invoice and if you have a credit card registered then when you go thru the payment options you have a choice of using your credit card to pay. The funds would be taken out of your account and sent to the person sending the invoice. They would have to have a premier account to be able to accept payments made via paypal. Now if you happen to have two paypal accounts and invoice yourself from one account and pay from one using the credit card you would get the funds coming out as a purchase from your credit card. You would end up paying paypal some charges but that would be infinetely cheaper than cash advance charges. I?F you dont have a SBT option than this is the cheapest payment option.

stevo84_2

mm66. You are spot on there, Ive used paypal for ages, but omars post made me think. To prove whether we could use paypal to obtain cash from a 0% on purchases card I sent a friend a £1 payment via paypal. 50p was already in my paypal account, the other 50p was taken from my card. He was charged 23p in fees. I then got him to refund me, this process also refunds his fees. I was refunded the full £1 back, however paypal being very astute sent 50p back to my paypal balance and 50p straight back to my card !!

The test did not cost anyone a penny and clears up a couple of things.

If they sent the full balance back to my paypal account i could then have pulled the balance in to my current account and wolla, cash at 0% with no fees. Not quite. I think paypal must have realised how this could have been abused (costing them lots in merchant fees!)

Hope this clears a few things up !! :beer:

Stevo

mm66

stevo84 wrote:

mm66. You are spot on there, Ive used paypal for ages, but omars post made me think. To prove whether we could use paypal to obtain cash from a 0% on purchases card I sent a friend a £1 payment via paypal. 50p was already in my paypal account, the other 50p was taken from my card. He was charged 23p in fees. I then got him to refund me, this process also refunds his fees. I was refunded the full £1 back, however paypal being very astute sent 50p back to my paypal balance and 50p straight back to my card !!

The test did not cost anyone a penny and clears up a couple of things.

If they sent the full balance back to my paypal account i could then have pulled the balance in to my current account and wolla, cash at 0% with no fees. Not quite. I think paypal must have realised how this could have been abused (costing them lots in merchant fees!)

Hope this clears a few things up !! :beer:

Stevo[/QUOTE

You accept money from credit card via paypal the receipient has to have premier account and the fee for accepting card is 3.4% plus .20GBP for UK customers.

Expensive but worth it if you need the money from a purchase card without having to pay the cash advance charges.

stevo84_2

yer i spose your right mm66 but id rather use cc cheques at 2% although i think thats a rip off !!!

mm66

stevo84 wrote:

yer i spose your right mm66 but id rather use cc cheques at 2% although i think thats a rip off !!!

CC cheques are 2% plus the extortionate cash advance rate!!

stevo84_2

mm66 wrote:

CC cheques are 2% plus the extortionate cash advance rate!!

Ah i see !!! this way works out a hell of alot cheaper then !!, unless we use cc cheques from a balance transfer card, dont know if thats still subject to a cash advance charge..

nomoneytoday

Paypal charge 3.4% for credit cards.
It will be added/deducted from the account holders balance...