Chase Freedom Card 5% - any paypal tricks?

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fognyc
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Joined: Thu Feb 20, 2014 12:41 pm

Chase Freedom Card 5% - any paypal tricks?

Post by fognyc » Wed Mar 21, 2018 10:00 am

Hi,

I have a Chase Freedom 5% cash back card.. I usually look for opps to max out the $1500 per quarter bonus (which yields $75) as easily as possible, and then bring all my other purchases to the 2-4% cash return cards. I noticed this upcoming quarter Chase is offering 5% cash back on all grocery store purchases as well as PayPal purchases.

https://creditcards.chase.com/freedom/calendar

Can anyone recommend any neat trick/loophole w/ payPal that would allow me to churn a quick purchase/payment to myself of $1500 to secure the $75, without any fees? Ideally I send money to my wife (with no fees), but also stores that may accept paypal to perhaps convert to cash easily or a GiftCard. FWIW I'm a regular costco visitor as well.

best,

A

mouth
Posts: 112
Joined: Sun Apr 19, 2015 6:40 am

Re: Chase Freedom Card 5% - any paypal tricks?

Post by mouth » Wed Mar 21, 2018 10:20 am

Any bills you have that accept paypal? pre-pay 3 months (or more) to get to $1500

You could also setup ChasePay, or paypal on your phone.

Hockey10
Posts: 325
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Location: Philadelphia suburbs

Re: Chase Freedom Card 5% - any paypal tricks?

Post by Hockey10 » Wed Mar 21, 2018 12:02 pm

Make a $1500 donation to Bogleheads.org using PayPal. :happy

https://www.bogleheads.org/support.php

Jack FFR1846
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by Jack FFR1846 » Wed Mar 21, 2018 12:21 pm

Gift cards won't work. They figure them out and if I remember right, I got 1% on them. I tried it out specifically to get 5% on a $500 gift card purchase. Denied.
Bogle: Smart Beta is stupid

mikep
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by mikep » Wed Mar 21, 2018 12:37 pm

You can send to your wife but you will pay paypal fees of 2.9% + $0.30 which is not optimal.

A few options I found are:
Pay taxes at payusatax.com .. 1.97% fee
Gift cards through Paypal digital gifts.. seems like this would count for the freedom category (this used to count for ink cash). Sometimes they have sales as well. https://www.paypal-gifts.com/
Buy 3 $500 Visa gift cards at a grocery store, also 5x
Buy 3rd party gift cards at best buy with chase pay, also 5x
Wait for ebay to have a 15-20% off sale (they just had one yesterday) and "buy" something from your wife on ebay through paypal.. likely the sale will offset ebay's fees. This will be capped but maybe you can use multiple ebay/paypal accounts.. YMMV

mikep
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by mikep » Wed Mar 21, 2018 12:44 pm

Jack FFR1846 wrote:
Wed Mar 21, 2018 12:21 pm
Gift cards won't work. They figure them out and if I remember right, I got 1% on them. I tried it out specifically to get 5% on a $500 gift card purchase. Denied.
where?

THY4373
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Joined: Thu Mar 22, 2012 3:17 pm

Re: Chase Freedom Card 5% - any paypal tricks?

Post by THY4373 » Wed Mar 21, 2018 12:46 pm

mikep wrote:
Wed Mar 21, 2018 12:37 pm

Wait for ebay to have a 15-20% off sale (they just had one yesterday) and "buy" something from your wife on ebay through paypal.. likely the sale will offset ebay's fees. This will be capped but maybe you can use multiple ebay/paypal accounts.. YMMV
I would be very careful with this. Not sure whether or not Ebay would care on a very small scale but during the Bing Cashback days (2010) when folks could get 30% cashback from Ebay purchases (oh those days were so much fun). Many folks started to do what you outlined and got closed down by Ebay real quick. if you do something like this I would practice some reasonable operations security like different IP addresses, browsers, etc. Ebay and Paypal have a very well deserved reputation for coming down like a ton of bricks on folks they think are playing games.

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NoNonsenseLandlord
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by NoNonsenseLandlord » Wed Mar 21, 2018 8:18 pm

Some of my renters pay their rent via PayPal. They use "send money to a friend" and it is free. You would have to charge it, but it may work to get an extra 2% back.

criticalmass
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by criticalmass » Thu Mar 22, 2018 12:25 am

My insurance company accepts paypal as a type of payment. Many retailers on the Internet do as well.

criticalmass
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by criticalmass » Thu Mar 22, 2018 12:28 am

Jack FFR1846 wrote:
Wed Mar 21, 2018 12:21 pm
Gift cards won't work. They figure them out and if I remember right, I got 1% on them. I tried it out specifically to get 5% on a $500 gift card purchase. Denied.

Denied on what basis and how did they know what the purchase was? There is no exclusion for gift cards in the 2nd quarter categories.

Heck, I even emailed Chase a copy of my dated Walmart gift card receipt to get my bonus when the payment was delayed due to a technical snafu. Accepted.

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dratkinson
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by dratkinson » Thu Mar 22, 2018 1:00 am

mikep wrote:
Wed Mar 21, 2018 12:37 pm
You can send to your wife but you will pay paypal fees of 2.9% + $0.30 which is not optimal.

A few options I found are:
Pay taxes at payusatax.com .. 1.97% fee
Gift cards through Paypal digital gifts.. seems like this would count for the freedom category (this used to count for ink cash). Sometimes they have sales as well. https://www.paypal-gifts.com/
Buy 3 $500 Visa gift cards at a grocery store, also 5x
Buy 3rd party gift cards at best buy with chase pay, also 5x
Wait for ebay to have a 15-20% off sale (they just had one yesterday) and "buy" something from your wife on ebay through paypal.. likely the sale will offset ebay's fees. This will be capped but maybe you can use multiple ebay/paypal accounts.. YMMV
+1.

Have bought 3x $500 gift cards from local grocery store over past few years. No problems. One and done.
d.r.a, not dr.a. | I'm a novice investor, you are forewarned.

boglerdude
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by boglerdude » Fri Mar 23, 2018 1:07 am

Looks like you cant use the Freedom card as the backup payment source for the Paypal debit card...

https://www.paypal.com/us/selfhelp/arti ... AE-faq1660

donfairplay
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Re: Chase Freedom Card 5% - any paypal tricks?

Post by donfairplay » Fri Mar 23, 2018 2:58 am

boglerdude wrote:
Fri Mar 23, 2018 1:07 am
Looks like you cant use the Freedom card as the backup payment source for the Paypal debit card...

https://www.paypal.com/us/selfhelp/arti ... AE-faq1660
You don't have to use it as a backup payment source for a paypal debit card.

You can use chase freedom as a payment method for paypal though. Just make sure you use that as a primary payment method instead of your bank account, if you have it linked.

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