Is There Anything Stopping Me from a PayPal Transfer for Credit Card Minimum Spend?

fishwallet on 26/10/2022 - 22:06
Last edited 27/10/2022 - 09:44 by 1 other user

Hi, wanting to sign-up for a credit card to get those sweet reward points and the free travel insurance.

The minimum spend is the issue though, I'm a single young man, hence, my expenses are minimal (all my big ticket stuff is already purchased). I don't really want to be responsible for $3K worth of gift cards as well.

To meet the minimum spend requirements on these cards, is there anything stopping me from using the card to transfer $3K to a family member via PayPal? (I'm not worried about the transaction fee if this is successful…)

Thanks!

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• 

  spc12go on 26/10/2022 - 22:39

  +1

  There is nothing stopping you from doing it. However paypal could potentially flag it as suspicious. Therefore put the fund on hold for x amount of period. Since it’s a new account and your relative has not received money previously.

• 

  Ughhh on 27/10/2022 - 00:43

  +11

  Would this be triggered as cash advance?

• 

  Vulgar on 27/10/2022 - 07:02

  +4

  I'd advise against simply transferring money, that might be treated as a cash advance rather than a regular purchase, costing you interest and losing you the reward points.

  If you want to spend a lot you may use your credit card to pay for your rent using a service like easyshare which passes the interchange fee (1.5%) onto you but would count as a legitimate purchase

  • 

    twistedbow on 27/10/2022 - 14:35

    agree. gotta be careful on fee from paypal and also if it's cash advance then you'll get hefty fee and also get charged interest on day 1.

• 

  freefall101 on 27/10/2022 - 08:48

  Prepay things or buy giftcards that are linked to an account. Usually you can bpay extra into your power/gas/internet/phone/insurance accounts, If you buy your groceries online you can load up the giftcards to your account so no one else can use them, same as Apple/Google giftcards, or gaming platform of your choice.

  That way you don't run the risk of the amount being stolen or losing the cards somehow.

• 

  brad1-8tsi on 27/10/2022 - 09:15

  +1

  If you have to do things outside of your normal habits then it probably isn't worth it.

  I'm not sure how u can't spend $1k/month. Rates, electricity, groceries, etc

• 

  HunterxHunter9000 on 27/10/2022 - 13:00

  Try and pay rent or see if anyone you know needs to pay rent / bills and pay them using your card and have them transfer the money to you. I did that and was able to do the 3k within first month easily.