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  • FIRST POST
    • Curls2208
    • By Curls2208 12th Oct 19, 5:40 PM
    • 110Posts
    • 45Thanks
    Curls2208
    Using PayPal to abuse credit card
    • #1
    • 12th Oct 19, 5:40 PM
    Using PayPal to abuse credit card 12th Oct 19 at 5:40 PM
    So here is something interesting I have just thought about and I wanted to ask you clever people on if my idea has already been done, if itís legal or taboo and if it actually works.

    My PayPal is linked to my credit card. Always has been.
    I went on a betting website today and deposited £10, and bam, straight from the credit card through PayPal into the betting account.

    Then later if I choose to withdraw this money...it goes back into the PayPal account as...you got it. PayPal balance.
    Which I can then withdraw into my bank account.

    So for me this would actually be a useful little loan right now to get some money into my account and then pay credit card off on payday. But is this technique illegal and can it even be done? I donít want to get in trouble...but when thinking about it. If done right on 0% cards this could be the ultimate and quickest form of stoozing?

    I must be missing something here but the logic seems to be fine.

    By the way sorry if this is in the wrong sub-forum.
Page 2
    • The Urbanite
    • By The Urbanite 13th Oct 19, 9:14 PM
    • 168 Posts
    • 80 Thanks
    The Urbanite
    Bear in mind that if you make a Paypal deposit into a bookies and the funds are pulled from a credit card, you may be charged a cash transaction fee and interested. This happened when I tried it so I never bothered again.
    • Curls2208
    • By Curls2208 15th Oct 19, 2:31 PM
    • 110 Posts
    • 45 Thanks
    Curls2208
    I came back to post this....I had absolutely no idea. I did it using my Nationwide and was charged a 2.5% cash fee.

    So turns out my clever scheme is pointless. Of course this is through the credit card issuer, so if I had the correct card maybe it'd be worth it. But for me this experience has been somewhat fruitless.
    • Fingerbobs
    • By Fingerbobs 17th Oct 19, 12:28 PM
    • 770 Posts
    • 310 Thanks
    Fingerbobs
    I came back to post this....I had absolutely no idea. I did it using my Nationwide and was charged a 2.5% cash fee.

    So turns out my clever scheme is pointless. Of course this is through the credit card issuer, so if I had the correct card maybe it'd be worth it. But for me this experience has been somewhat fruitless.
    Originally posted by Curls2208
    I was caught in exactly the same way, many years ago, before I knew of this forum. I assumed a PayPal transaction was a PayPal transaction, and didn't realise they could sometimes be treated as cash transactions. I phoned my card provider and explained what had happened, promised never to do it again, and they refunded me the cash advance fee and interest as a goodwill gesture.
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