PayPal Credit Card
From LoveToKnow Creditcards
GE Money Bank, the PayPal credit card issuer offers similar security and features offered y other MasterCard issuers. The PayPal credit card is a great money tool to use on the Internet and at other retail stores, if you use it wisely.
PayPal Credit Card Application
Applying for the PayPal credit card is simple: all you need to do is fill out an application online. The application will ask for
- Your name
- Address (no P.O. Boxes)
- Occupation
- Income
- Social security number
This information is then entered through a consumer credit agency to determine your credit worthiness. The higher your credit score the better chance you have to obtain a PayPal credit card. Usually you will receive an answer within 30 seconds. If you don’t get a credit card number and credit limit after submitting your application, you will receive a message stating that a decision can’t be made at this time. PayPal will then send you letter in the mail explaining why you weren’t eligible for the extension of credit.
PayPal Security
Every one who has a credit card is concerned about the security features on their card. Each bank that issues a credit card has specific security information for their customers. This information is usually provided to customers on their monthly credit card statements.
When shopping on the Internet most secure sites will ask you for your three-digit security number or CV (credit verification). This is the last three-digit number printed on the back of your credit card. This helps Internet merchants insure that you have the card in your possession since this information is not on the front of a credit card. Criminals that have an imprinted credit card receipt or have memorized your credit card number usually will not have the CV number.
You will also notice your credit card number printed in black ink slanting to the left on the back of your PayPal credit card. This is a security feature to thwart individuals who can melt and re-print credit card numbers on the front of the card. A criminal would not be able to re-print the false information on the back of the card in the signature area.
Card Features
There are many attractive features offered with the PayPal credit card. Currently they include:
- No annual fee
- 24-hour customer service
- Online account access
- Convenience- the card can be used anywhere MasterCard is accepted, including at bank ATM machines
- Various payment offers, including low monthly payments and deferred payments
- A rewards program
Rewards Program
PayPal credit card customers can earn rewards for money they spend using this card. There is no cost to enroll in the rewards program at this time.
The program offers $1 PayPal Plus Reward Point for each dollar spent. These reward points can be used toward future purchases, free shipping offers or $25 and $100 reward vouchers. The vouchers and free shipping offers can also be used towards purchases on the eBay auction site.
Currently, reward points are not awarded for cash advances, balance transfers, finance charges or fees.
Other Features of the PayPal Credit Card
By using this credit card you can take advantage of special offers on eBay. You may also use a PIN number to access cash at any bank ATM that has the MasterCard logo. PayPal also offers extended protection for purchases made with their credit card.
Extended protection applies to items purchased with the PayPal credit card that are shipped to you as physical goods. The protection offers full reimbursement for items that are not described correctly in a product listing. PayPal credit customers can file up to three claims per year.
In Conclusion
The PayPal credit card is similar to other Mastercard credit cards with one main exception. This credit card offers perks associated with the eBay website. Many of the special offers and credit vouchers are specifically for use on the eBay auction site. If you shop regularly on this auction site you can really benefit from using this credit card.
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