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Foldapp + Paypal Billpay to double-dip on credit card rewards (3.5+% cash+sats)
177 sats \ 9 comments \ @gmd 5 Sep 2022 bitcoin
This seems to be a little known secret but you can use Paypal billpay to pay off certain credit cards using a debit card like Fold. This allows you to double-dip in sats-back on top of your normal fiat credit card rewards.
https://blog.foldapp.com/now-pay-your-mortgage-rent-and-more-with-your-fold-card/
I've been doing this successfully for several months now using my Citi DoubleCash card (flat 2%, no annual fee). From my conversations with a twitter friend who first shared this with me, it also works with his Amex, Amazon Visa, Target and Apple cards (I have not verified those). I haven't been able to add any of my Chase cards to Paypal Billpay unfortunately.
They changed the spin game recently to make it a bit harder to hoard spins, but so far over the past 3 months I've been getting well over 2% in sats back on top of my 2% DC points back. If you game it correctly, it is almost a guaranteed extra 1.5+% sats-back on your spend (I keep balance > $1k to get extra daily spins, play daily stupid VR game to get 3 extra spins, and I pay off my credit card bill in increments of $1300 every thursday night to maximize rewards combining thursday + friday spins + friday am bonus spins).
If you have ~3k in monthly credit card spend this comes out to $45-60 dollars in extra stacked sats, so the premium spin+ card pays for itself in 2 months. It doesn't sound like much but it's a nice mini raise in these times of rampant inflation. So far I've stacked over 6M sats in just over a year using this card.
Other than paying of my credit card bill, I mainly only use the Fold card for one daily small purchase <$5 (hitting monthly spend in sats back reward regularly gives me ~5000 sats back) and Amazon gift cards (5%+spin% via the app). I also use it for paying quarterly estimated taxes as you get back much more than the debit card fee.
Anyone else this trick to stack extra sats? Got a better strategy for maximizing sats back on fold spins?
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100 sats \ 3 replies \ @BlokchainB 6 Sep 2022
Well damn! I use fold to pay my mortgages and now I can use PayPal to pay my credit card bills and earn sats this is crazy! I wish I New this before!! I think I will try this out!!
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1 sat \ 2 replies \ @gmd OP 6 Sep 2022
I was skeptical at first but I've been doing this for 3 months now and can confirm it works, at least for now. FYI it takes a few days for the credit to post to your credit card statement and you can only pay during normal fiat business hours so don't wait too long to pay off your credit card statements and risk a stupid penalty fee.
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34 sats \ 1 reply \ @BlokchainB 6 Sep 2022
Agreed I just tried to add my cards and PayPal gave me an error I’ll try again but thanks for this hack
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21 sats \ 0 replies \ @gmd OP 6 Sep 2022
See list above, it doesn't seem to work for all cards for some reason. Citi DoubleCash was collecting dust for me as I was using fold for everything but now I've moved all my real spend to my DC card. 2% and no annual fee.
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100 sats \ 2 replies \ @derekross 5 Sep 2022
Can confirm. I do this EVERY month. We use our Chase Amazon Rewards card to buy everything and then pay it off every month with Fold. It's a nice way to get free Amazon items via Amazon points AND earn a nice heap of Sats every month paying the Chase bill. Last month I got about 300,000 Sats doing just that.
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1 sat \ 1 reply \ @gmd OP 6 Sep 2022
Nice! .. I didn't realize amazon was a chase card. I wonder why I can't seem to get it to work with my chase freedom or chase southwest card. It would be nice to be able to do this hack with my other cards. Maybe I'm doing something wrong.
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100 sats \ 0 replies \ @derekross 6 Sep 2022
Oh. I would assume you could? I just searched for Chase and selected the Chase Mastercard and Visa one in bill search.
I normally split my bill like you do at $1250 per payment so I can get the maximum of $25 if I only land 2%.
Last month I split 3 ways and got 2%, 4%, and 2%. :)
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34 sats \ 0 replies \ @F 6 Sep 2022
Fold card is fun! and double dipping? Gaming the system, you madman!
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0 sats \ 0 replies \ @gmd OP 29 Mar 2023
Update:
Looks like Paypal closed the bill-pay option to double-dip on credit card rewards using the Fold card to payoff your credit cards (and mortage, etc)
Only workaround I could find is with Citi cards (double cash, costco visa) you can still call in and make a phone payment via debit card. Not as convenient, takes about 4m to navigate the prompts, but seems well worth it for the extra ~$25 in sats per $1250 credit card spend.
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