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The PayPal debit card lets you choose a 5% cash back category every month. Gas, restaurants, and a few other I don't remember. It's a much better deal than most
by evilsaloon 2y ago
The PayPal debit card lets you choose a 5% cash back category every month. Gas, restaurants, and a few other I don't remember. It's a much better deal than most of the credit cards I carry.
- scarface_74 2y ago5% cash back is less than 3% On cards that give you points if you travel a lot and transfer to partners. It’s definitely less than 4x points back I get on groceries and dining on my Amex Gold.
- andrewmcwatters 2y agoAnd the reason is because American Express simply charges more interchange than others... so, you're just spending more in a roundabout way.
- scarface_74 2y agoI have never known a vendor that charges more based on credit card types. The reason that companies are willing to pay higher credit card exchanges for Amex is because Amex users on average are bigger spenders. But even Chase Visa cards that transfer to Hyatt hotels and you can get 3x back for groceries (by paying with grocery store app so it counts as “online groceries) you’ll get more than 5% cash back. Then there is the whole r/awardtravel hacks of getting cheaper flights by transferring points to partner airlines like booking Delta domestic flights via AirFrance.
- andrewmcwatters 2y agoThat’s because every vendor who chooses to accept American Express raises their base prices by 4-5% instead of 3-4%. It has absolutely nothing to do with how much American Express cardholders spend and everything to do with what they charge vendors and some vendors or their payment processors accept Amex, or you don’t have a choice. I know this because my firm accepts American Express and they are absolutely not our biggest spenders, but our downstream processors force us to raise prices.
- scarface_74 2y agoInternationally, a lot of places don’t accept Amex because of higher fees. Every Amex cardholder knows to carry a non Amex card. You wouldn’t lose business by not accepting them and some vendors don’t even domestically. I can’t find stats for other cards. But here is the average wealth and income of Plat holders https://monkeymiles.boardingarea.com/whats-average-household-income-net-worth-amex-platinum-cardholder/ https://monkeymiles.boardingarea.com/whats-average-household... Amex cardholders are the highest earners in the industry.
- deleted 2y ago[deleted]