Quick Credit Card question...

  • WhoDey

    Posts: 561

    Jul 05, 2013 4:57 PM GMT
    Hey all, I went on a trip with a friend last weekend and we shared a hotel room. To make a long story short, the hotel did not charge my credit card like they were suppose to, so I need to repay my friend. I much have rather paid by credit card than giving my friend cash.

    So my question is: Is there a way to pay him via credit card? I don't know much about how Paypal works, but if I get it, is there a way to pay him via Paypal?

    Sorry if this is a juvenile question, but I really have no idea how Paypal works...
  • Posted by a hidden member.
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    Jul 05, 2013 7:13 PM GMT
    Yes, you sign up for PayPal, register your card, and send him a payment to his PayPal account. You mark it as "send money to friends", not merchandise, because othewise PayPal will deduct a percentage in commission if it's a merchandise payment.
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    Jul 05, 2013 8:03 PM GMT
    Matiz saidYes, you sign up for PayPal, register your card, and send him a payment to his PayPal account. You mark it as "send money to friends", not merchandise, because othewise PayPal will deduct a percentage in commission if it's a merchandise payment.

    I've always wondered about this. So there's no cost to his friend? I.e., no overhead taken, no cost to set up the paypal account?
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    Jul 05, 2013 8:18 PM GMT
    Lumpynose said
    Matiz saidYes, you sign up for PayPal, register your card, and send him a payment to his PayPal account. You mark it as "send money to friends", not merchandise, because othewise PayPal will deduct a percentage in commission if it's a merchandise payment.

    I've always wondered about this. So there's no cost to his friend? I.e., no overhead taken, no cost to set up the paypal account?
    Non purchases are free.
    https://www.paypal.com/webapps/mpp/transfer-money-online

    Only catch is that you have to link your bank account. I would strongly recommend opening a separate bank account only for PayPal stuff.
  • LJay

    Posts: 11612

    Jul 05, 2013 8:24 PM GMT
    I don't like PayPal. Why not just send him a postal money order? Cheap and you won't be stored in a data bank.
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    Jul 05, 2013 8:33 PM GMT
    LJay saidI don't like PayPal. Why not just send him a postal money order? Cheap and you won't be stored in a data bank.

    I think for probably the same reason he doesn't want to pay his friend cash, which from what he says in his OP sounds like he could do- probably doesn't want one large sum going out at once when he could pay smaller amounts over time if he pays with his credit card through pay pal.
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    Jul 05, 2013 8:39 PM GMT
    xrichx said
    Lumpynose said
    Matiz saidYes, you sign up for PayPal, register your card, and send him a payment to his PayPal account. You mark it as "send money to friends", not merchandise, because othewise PayPal will deduct a percentage in commission if it's a merchandise payment.

    I've always wondered about this. So there's no cost to his friend? I.e., no overhead taken, no cost to set up the paypal account?
    Non purchases are free.
    https://www.paypal.com/webapps/mpp/transfer-money-online

    Only catch is that you have to link your bank account. I would strongly recommend opening a separate bank account only for PayPal stuff.


    And then you get Bill Me Later crammed down your throat. I paid for six weeks worth of purchases on my private credit card and for some strange reason all the charges were transferred onto Bill Me Later...

    You would think E-bay is making enough money without trying to rape people..and, despite protests to the contrary, e-bay and Bill Me Later are the same company...icon_mad.gif
  • Apparition

    Posts: 3521

    Jul 05, 2013 8:43 PM GMT
    any way you do it, it's a cash advance as far as interest is concerned, why dont you take it out in cash and send him a cheque. That seems the easiest thing to do.
  • WhoDey

    Posts: 561

    Jul 05, 2013 9:10 PM GMT
    Iceblink said
    LJay saidI don't like PayPal. Why not just send him a postal money order? Cheap and you won't be stored in a data bank.

    I think for probably the same reason he doesn't want to pay his friend cash, which from what he says in his OP sounds like he could do- probably doesn't want one large sum going out at once when he could pay smaller amounts over time if he pays with his credit card through pay pal.


    Yes, exactly. Also I need to build up credit.
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    Jul 05, 2013 9:28 PM GMT
    turbobilly said

    And then you get Bill Me Later crammed down your throat. I paid for six weeks worth of purchases on my private credit card and for some strange reason all the charges were transferred onto Bill Me Later...



    You just click on "no thanks" and that's it icon_lol.gif I use PayPal every day and I don't have a problems with that.
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    Jul 05, 2013 9:29 PM GMT
    WhoDey said
    Iceblink said
    LJay saidI don't like PayPal. Why not just send him a postal money order? Cheap and you won't be stored in a data bank.

    I think for probably the same reason he doesn't want to pay his friend cash, which from what he says in his OP sounds like he could do- probably doesn't want one large sum going out at once when he could pay smaller amounts over time if he pays with his credit card through pay pal.


    Yes, exactly. Also I need to build up credit.

    Don't make minimum payments on your card; pay it off in full each month. Your credit rating still goes up.
  • Import

    Posts: 7190

    Jul 05, 2013 9:30 PM GMT
    cant u just get a pin number and go to any ATM and get a cash advance? I did that all the time with my credit card. You should call the number on the back of ur CC and request a pin number and then go withdrawal the cash.


  • Fable

    Posts: 3866

    Jul 05, 2013 9:38 PM GMT
    hmmm, why dont you send me your credit card details and I can tell you if itll work for paypal.
  • Posted by a hidden member.
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    Jul 05, 2013 11:36 PM GMT
    "Square" is also a great way to pay with, and accept credit card payments.
  • Posted by a hidden member.
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    Jul 05, 2013 11:38 PM GMT
    Lumpynose said
    WhoDey said
    Iceblink said
    LJay saidI don't like PayPal. Why not just send him a postal money order? Cheap and you won't be stored in a data bank.

    I think for probably the same reason he doesn't want to pay his friend cash, which from what he says in his OP sounds like he could do- probably doesn't want one large sum going out at once when he could pay smaller amounts over time if he pays with his credit card through pay pal.


    Yes, exactly. Also I need to build up credit.

    Don't make minimum payments on your card; pay it off in full each month. Your credit rating still goes up.


    Ideally, don't run credit card balances.

    However if you do run a balance, a little trick is to pay $1 more than the minimum payment. By doing this, some credit card companies report that you pay more than minimum which also can boost your score.
  • Bunjamon

    Posts: 3161

    Jul 05, 2013 11:50 PM GMT
    Import saidcant u just get a pin number and go to any ATM and get a cash advance? I did that all the time with my credit card. You should call the number on the back of ur CC and request a pin number and then go withdrawal the cash.




    You have to be careful, though, as some companies start charging interest immediately once you've withdrawn cash. With the rates they're charging these days, if you don't pay the bill off immediately, you'll be stuck with a significantly higher owed balance than you started with.
  • Posted by a hidden member.
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    Jul 06, 2013 12:07 AM GMT
    what banks are you using? Chase has a Chase-to-Chase online "billpay" system where you can transfer money from one chase bank account to another. totally free. i do this all the time.
  • Suetonius

    Posts: 1842

    Jul 06, 2013 12:21 AM GMT
    It's not clear why you want to pay by credit card instead of just giving your friend a check. You can't pay him by credit card unless he has a commercial credit card account (and the credit card companies would charge him 2-3% for the privilege.) If you get a cash advance on your credit card, or if you use one of those checks the card company keeps sending out, they generally charge you 3% for doing so, and then they charge interest from the date of the transaction. If you don't have the $, that's what you probably have to do.

    Most bank checking accounts have a "billpay" service, accessible online, and you can use it to pay anyone in the US with a postal address, so you don't have to mail a check.

    If you just want to use a credit card to build up a credit history, try using it all the time - for groceries to gasoline, and pay off the entire balance monthly.
  • Posted by a hidden member.
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    Jul 06, 2013 12:27 AM GMT
    willular saidwhat banks are you using? Chase has a Chase-to-Chase online "billpay" system where you can transfer money from one chase bank account to another. totally free. i do this all the time.
    it doesn't even have to be a Chase bank. I have two checking accounts with two different banks, and keep both balances fairly even...got into that habit after identity theft last year. It's good to have a backup account.
  • Montague

    Posts: 5205

    Jul 06, 2013 12:38 AM GMT
    You can use your CC and get a cash advancement and it will be the same as a charge.

    Edit: I noticed Appartion said this too hehe
  • in_this_corne...

    Posts: 704

    Jul 06, 2013 12:59 AM GMT
    Have you called the hotel? They can issue a credit to his card and charge yours like you initially intended.
  • Posted by a hidden member.
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    Jul 06, 2013 3:28 AM GMT
    Suetonius saidIt's not clear why you want to pay by credit card instead of just giving your friend a check.

    He wants to build his credit rating, for one thing.

    Another potential reason, which is why I charge everything is that you accrue points for air miles or whatever. I have a Chase Amazon card and at the end of each month I have at least $25 I can spend at Amazon. The cash in my wallet is brown and brittle.

    This is only a viable strategy if you pay your credit card off in full each month. Otherwise the interest eats up the benefit.
  • Posted by a hidden member.
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    Jul 06, 2013 3:36 AM GMT
    Personal accounts on Paypal rarely have a discount fee. Business account on Paypal almost always do.

    You should be able to transfer money without a discount fee.
  • stratavos

    Posts: 1831

    Jul 06, 2013 3:39 AM GMT
    you could... purchase a visa prepaid card equal to the difference (with your credit card) and get that to your friend ;)