Credit Cardit or Paypal ?

[CAS2047]

Originally posted by Gus
"Good ole Gus" never said that what happened didn't happen.

What "Good ole Gus" said was that if that was the case he would be extremely surprised.

Because "Good ole Gus" is a grown up with a good credit rating, too.

And in "Good ole Gus's" experience banks generally behave in a bank-like fashion which means they go after people who unfairly take their money.

In fact, "Good ole Gus" has found banks fairly unvarying, dispassionate, and relentless in that regard.

Why your bank wouldn't charge back the transaction to Paypal when it was perfectly legitimate, logical, usual and customary for them to do so is what "Good ole Gus" (and his good friend Kermie) find so surprising.

Perhaps your bank really does think you're so special that they'd prefer to take the hit rather than getting their money back from Paypal.

Just surprises "Good ole Gus", that's all. Sorry that you were insulted.


Dave,

Do a search here on "Rebar Rocketry","Suziekrp", "Empire Rockets", or"UpNorthGuy" for some sad lessons about buying internet-traded items without the protection afforded by a credit card.

Most internet vendors are honest.

But if you continue to pay with money orders it is only a matter of time until you get ripped off.

You know after reading this last post I am actually laughing! Your argument makes even less sense now than it didn't before. It's hard to follow your train (wreck) of thought with all the juvenile ranting mixed in.

I'm really sorry that I couldn't agree with the master of all finance Gus.

I conveyed the information as it happend. I'm really really sorry it doesn't conform to your framwork for how finance works I really am.

 

[cjl]

Originally posted by Rocketcrab
I am quite aware of the fact that in a perfect world, if you don't carry a balance from one month to the next, you don't have to deal with high interest rates. Another way to get around those rates is to have a six- or seven-figure salary, be born into a family with money, or better yet, marry it. But alas, I'm one of those millions of people who live in the real world. My wife and I both work to support a family and between the two of us don't make six figures - and we're "professionals". I use my debit card as much as I can when cash isn't practical.

Here is a question however:

If you cannot afford to pay off the balance incurred by buying an item via credit card at the end of the month, how can you afford to pay it off via check? It would seem to be the same amount of money either way...

Also, I strongly agree with the other posters here that the best way is to live within one's means, and not buy things that you can't afford. Honestly, credit card debt is about the stupidest thing someone can get themselves into if they have any other choice at all (including just not buying the nonessentials). By accumulating that credit card debt, you could end up paying double, triple, or more than what the items purchased actually cost because of interest. Simply put, if you can't pay it off at the end of the month, don't buy it, and it doesn't take a six figure salary to pull this off. That's the real world, and millions live in it every day (unfortunately, especially in America, millions more go deeper and deeper into debt, not realizing that the farther into debt they go, the faster that debt will rack up, eventually costing them FAR more than just buying stuff they could afford and paying off the cards each month ever would have)

 

[cls]

paypalsucks.com

'nuff said.

 

[Mike Fisher]

I've always looked at pay pal as a viable alternative for those vendors that cannot get a real merchant account, for whatever reason.

If you can qualify for a merchant account through your bank and afford the trans machine and printer, that's the way to go.

It's more professional, and carries more security for buyers and sellers. After all, when you go to a real brick and mortar store, they don't take pay pal.

I use pay pal on e-bay if the person I'm dealing with can't process credit cards, but in the instance where there is a dispute, pay pal will only be able to recover the amount available in the sellers pay-pal account. If this is way less than they stiffed you, it doesn't matter to pay-pal, they close the claim.

If the same happens with a credit card transaction, all it takes is a phone call to the bank to reverse the charges and issue a chargeback.

Best of luck with whatever you decide.

Mike Fisher
Binder Design
https://binderdesign.com

 

[Skeet]

I was using a low limit credit card for both but my wife just told me it has been increased to 3500.00$, I thought it was still 500.

I think I will set up a check account just to use for the PayPal when I cant use the credit card.

 

[Fred]

Interesting discussion. I pay with Canada post Money Orders done in the apropriate currency. I only deal with vendors who get lots of positives around here. UMRS,Fliskits Thrustline aerospace and Doctor Zooch are the ones that pop into my mind. Never been stiffed although it is possible i suppose. I have a credit card that I use to buy business supplies, confirm hotel rooms and rent vehicles. I usuually pay it off the same day as i purchase. My biggest problem with purchasing rocketry supplies are vendors who refuse to deal with Canadians. I suppose they have their reasons but I just send my money to those who do. never tried paypal and dont see a need for it but then again if it works for you what the heck
Cheers
fred

 

[DumasBro2]

Originally posted by Skeet
I was using a low limit credit card for both but my wife just told me it has been increased to 3500.00$, I thought it was still 500.

I think I will set up a check account just to use for the PayPal when I cant use the credit card.

You can call the company and tell them to lower the limit.

 

[Karl Rocket]

I've been pretty lucky so far with Paypal.

I did have an issue with them, however: I went ahead and got verified, especially since I was doing some selling on eBay (I make didgeridoos, btw). Every time I bought something, they took the funding from my bank account rather than my credit card. There IS a mechanism to change that, but, it is not easy to do. There are radio buttons to push to indicate what you want your primary funding source to be, but in my case, even when I DID say "credit card" oit pulled funding directly from my account.

I cancelled my verification because of that.

Karl

 

[skycopp]

I've had pretty good dealings with Paypal because I mostly dealt with dealers that had good ratings on Ebay.

Anyway, now I have an ongoing issue. I ordered some stuff from Hangar 11 hobbies on Dec 21st and after numerous emails, phone calls, and promises my stuff still hasn't arrived.

A few days ago I filed a claim with Paypal for non reciept of the goods. I had paid for the order using a charge card from my bank.

Hangar 11 has until Feb 9th to respond, so far they haven't but we will see. It was only about $20 but its the principle of the thing. I'm wondering what Paypal will do if the dealer doesn't respond back.

 

[JRThro]

Originally posted by JBeau
My wife and I got "deer in the headlights" serious 3 years ago when we realized we were $45,000 in consumer debt not including the mortgage.

I delivered pizzas for two years, we sold everything wasting space in the garage, made a budget every month (discovered $100s of dollars magically right there!) and got out from under it at last summer.

Life is amazing with no credit cards and no debt to service. Back working just our normal jobs, we pay cash for everything and have access to our entire paychecks, something we hadn't experienced in 20 years of marraige.

It's a different life. we take vacations, we refurnished the entire house, refloored the house, two root canals, 3 luxury purchases and paying extra every month on the mortgage, ALL IN CASH, for the past year.

It's an amazing feeling. I recommend people consider it. It won't happen, not at all, no chance, no way, until you decide "enough is enough with sending banks/credit cards companies the first 60% of every dollar I make!"

We can do it, we really can, then we take our lives back, then we're less stressed and having more fun.

I recommend it highly.

You go, Jerry!!!

My wife and I aren't *that* far in debt, but it's still absolutely ridiculous how much we pay each month to credit card bills. And it is, of course, our own fault.

 

[Justin]

I take paypal on ebay. I know it can be risky, but it's so fast! I'm not set up for direct credit payment. I don't think I sell enough to warrant it..

Credit cards are scarey. My lady and I are into one for 3 grand. I keep telling my self once it's paid (later this year) I won't do it again.

We'll see... Give me strength!! Can I get a amen!!

 

[Karl Rocket]

amen

 

[BobH48]

Originally posted by JRThro
You go, Jerry!!!

My wife and I aren't *that* far in debt, but it's still absolutely ridiculous how much we pay each month to credit card bills. And it is, of course, our own fault.

At least you admit it's your fault and don't try to blame the card.

A friend of mine always says "It's the Credit Card company's fault that I'm in so much debt".

I tell him to stop using it and he says he can't. With all the bills he's paying he says he doesn't have enough left of his pay check to live on so he charges back everything he paid. And he's not willing to stop spending to get out of debt.

In the early 80's I bought something I thought I "had to have" and used my credit card because it was "on sale and a good deal". It was close to 2 grand and that was a lot of money 27 years ago. By the time I paid it off nearly 2 years later and added up the interest I had paid, I realized that I had paid way more than it was worth.

Since that time, I have never carried a balance on my card and pay it in full every month. I use it all the time for the convenience but never buy anything that I wouldn't have bought if I was using cash.

 

[cls]

I tell him to stop using it and he says he can't. With all the bills he's paying he says he doesn't have enough left of his pay check to live on so he charges back everything he paid. And he's not willing to stop spending to get out of debt.

that's EXACTLY where they want you!!! they will take all your money. everyone, if you are that close to the edge, get yourself some help, what ever it takes, and get away from there. the law is not on your side any more.

 

[BobH48]

Originally posted by cls
that's EXACTLY where they want you!!! they will take all your money. everyone, if you are that close to the edge, get yourself some help, what ever it takes, and get away from there. the law is not on your side any more.

Agreed!

But a person has to take some responsibility for their own actions. The friend that I wrote about can't tell the difference between "need" and "want".

He thinks that he "needs" a $4.50 Starbuck's Latte every morning and doesn't understand why I bring a coffee from home in a travel mug. Or why I bring my lunch to work instead of buying it in the cafeteria or going out. And he always seems to "need" another locomotive (into trains).

If someone were to pay off his entire credit card debt for him, I'd be willing to bet that he would have the cards up near the limit again within 6 months. Some people just can't control spending. It's an addiction, like gambling.

 

[vcp]

Originally posted by Gus
Paypal can't just help themselves to your bank account as they see fit anymore than your employer can when you give them the same numbers so they can direct deposit your pay.

Point of information. I once had a payroll deposit 'recalled' by my employer, -after- it had been credited to my account, -after- I had called to verify the deposit. Their error, but it took a month to get that check.

GC

 

[bigredbee]

Thanks, everyone, for participating in this lively thread.

I now accept credit cards in addition to Paypal.

-- Greg "charge it up!" Clark

 

[Hospital_Rocket]

Thanks, everyone, for participating in this lively thread.

I now accept credit cards in addition to Paypal.

-- Greg "charge it up!" Clark

<snip>

(snip)...But a person has to take some responsibility for their own actions. The friend that I wrote about can't tell the difference between "need" and "want".

</snip>

Now I have a distinct NEED for a Beeline GPS and two convenient ways to not be able to pay for it.

Greg, you are twisted, evil, and all an around cruel individual...I like that in a guy.

 

[11bravo]

Jeesh, Al, welcome to the thread.
What is it, like 8 months old.
Can't put one past you can we.

 

[Hospital_Rocket]

Hey it was either this or go back to foaming at the mouth over pictures of Kari Byron at N3.

 

[11bravo]

I'd a gone with Kari.

 

[bsexton]

While I have a PayPal account and have used it many times I only like to use it with a known vendor with a good reputation - otherwise I prefer the credit card.

 

[bigredbee]

Speaking of paypal, I had a funny thing happen the other day.

A got email from paypal indicating that someone had made a purchase. I logged into paypal, and sure enough, a previous customer had ordered something from me again.

BUT WAIT, I looked at the details of the payment, and it was intended for another vendor! THe person who made the payment said that he typed in nothing manually, but somehow, paypal gave the money to ME instead of the correct party.

Go figure.

 

[bigredbee]

removing duplicate post