Monday, January 20, 2014

New debit card

I've already earned $9.48 in cash back using my new Pay Pal Debit card, and I think I have another $6.50 in pending.  I was hoping I could also pay the health insurance monthly bill using it, but apparently I can only use my bank account. I am going to call and double check though. That would earn me $6.71 each month.  I'm getting use to using it, but there are a couple of drawbacks. It takes a day or two to deduct from my checking, so I have to be careful I have enough to cover. This shouldn't really be a problem, unless I'm getting close to payday and low on funds, but I also have overdraft protection on my checking and as long as I deposit money by the end the day there is no fee. I check my balance daily, so this should be an issue.  Not to mention, I budget pretty carefully, so I know beforehand if I'm getting low.

The other part I don't like is every transaction shows up on my checking as "paypal", so I can't go back an look up a specific transaction by merchant name. I can only get the detail on paypal, though I don't really see on there where you can search merchant names. Plus, I use to see my spending category totals, and of course this won't work now that every thing is under one transaction/merchant name. I will miss having this, but for $20+ a month extra, just for doing nothing extra other than using the card, it will be worth giving up, I guess. I could manually categorize the expenses......ok, that's most likely NOT going to happen :)


  1. I used to use the Paypal card, but it was hard to find places that required a pin like they required it. I do that with my credit cards now, but you are right that Paypal is a major pain to track on expenses. I ended up taking it off my Quicken accounts because it took me twice as much time to get it current than it took me to get all accounts updated.

  2. I have that card somewhere in my drawer, it pays nicely but yea moving money to that account used to take 3 days... now I just use a regular CC with rewards. The cc is easier, faster and provides better protection for unauthorized purchases.


  3. Tanner - to get the 1% cash back I have to use it as a credit/signature based card, which I haven't had any problems with. I just chose the credit option when swiping my card at a store.

    HS - I don't have to transfer any money from my checking to Paypal - my checking is my funding source, so it just automatically pulls from after there every transaction, it just takes a day or two to do it.