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Fold Bitcoin Card Users- Mortgage/Car Note/etc bill pay for rewards is live

Posted on 5/10/22 at 11:37 am
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 11:37 am
I know a lot of people on this board got the Fold bitcoin rewards card. As of last week, you can now pay traditional ACH only payments (mortgage, car note, credit cards, etc) with your Fold card and get bitcoin rewards for it. With bitcoin in the shitter, now is a great time to utilize this bc more sats per dollar. Link below with directions.

Directions for how to set up bill pay

Screenshot of my mortgage payment below:


Link to sign up for the app. From there you can apply for the card (you get 5,000 sats for downloading the app, I get nothing fwiw).
LINK
This post was edited on 5/10/22 at 11:38 am
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10400 posts
Posted on 5/10/22 at 1:40 pm to
That's awesome.

Why are people down voting? Do they not like 4% cash back on their mortgage?
Posted by tigersint
Lafayette
Member since Nov 2012
3548 posts
Posted on 5/10/22 at 1:49 pm to
So I can link this with ACH to pay off a mortage?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 2:04 pm to
quote:

Why are people down voting?
Not real sure- it’s one of the only ways to get rewarded for traditionally ACH only payments
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 2:05 pm to
quote:

So I can link this with ACH to pay off a mortage?


It’s a pre-loaded debit card which can be a pain in the arse for everyday use but if only using it to pay a monthly mortgage, car note or CC bill, it’s not bad. You get the card, send funds from your bank account, then connect it to PayPal for the bill pay (or use it as an everyday credit card if you want)
Posted by tigersint
Lafayette
Member since Nov 2012
3548 posts
Posted on 5/10/22 at 2:16 pm to
I just signed up. It says that ACH rewards are not live yet. Is this about to change?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 2:37 pm to
ACH through Fold not live. ACH through PayPal with the Fold card is live- follow the directions in the link in my original post. It has a step by step with pictures on how to use it.
This post was edited on 5/10/22 at 2:38 pm
Posted by bbap
Baton Rouge, LA
Member since Feb 2006
96013 posts
Posted on 5/10/22 at 3:23 pm to
So i can earn my normal rewards on CC purchases, and then earn again when i pay the CC off using fold?

And I can earn on things that don't accept CC like mortgage, daughters rent, car note, etc?

I feel like there has to be a catch somewhere. So where's the catch?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 3:52 pm to
quote:

So i can earn my normal rewards on CC purchases, and then earn again when i pay the CC off using fold?

Yes

quote:

And I can earn on things that don't accept CC like mortgage, daughters rent, car note, etc?

Yes

As long as the company you are paying is within the Paypal bill pay network (most are).

quote:

I feel like there has to be a catch somewhere. So where's the catch?

None for now - eventually Paypal and/or the receiving companies will no longer eat the fees. It only works becauuse this Fold card is a prepaid debit. To my knowledge, there are no other pre-paid debit cards that offer rewards which is why this is unique.
This post was edited on 5/10/22 at 3:53 pm
Posted by bbap
Baton Rouge, LA
Member since Feb 2006
96013 posts
Posted on 5/10/22 at 4:21 pm to
Gotcha. Thanks for the info.
Posted by bbap
Baton Rouge, LA
Member since Feb 2006
96013 posts
Posted on 5/10/22 at 4:54 pm to
Is it seamless transferring the rewards to your btc wallet of choice?
Posted by Rust Cohle
Baton rouge
Member since Mar 2014
1944 posts
Posted on 5/10/22 at 5:41 pm to
What is the max back?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 6:14 pm to
quote:

Is it seamless transferring the rewards to your btc wallet of choice?


Very- you request the transfer through the app. They batch all withdrawals on Tuesday of each week. I believe there is a 90 day hold before you can withdraw those sats for a given purchase to account for product returns to stores and such. For example, on January 1 you buy something and get 100,000 sats. You can’t withdraw those 100,000 sats for 90 days.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/10/22 at 6:18 pm to
quote:

What is the max back?
on a purchase or for your account? The spin wheel changes every 2-4 weeks to keep things fresh. The current wheel is this:

Note that you can rack up plenty of respins. I average about 20-25 respins in my account before I make I big purchase so I have decent odds of hitting the bigger wedges
This post was edited on 5/10/22 at 6:19 pm
Posted by bbap
Baton Rouge, LA
Member since Feb 2006
96013 posts
Posted on 5/11/22 at 7:42 am to
Did you opt for the free card or the one with the $150 annual fee?


One other question, why does it say limit 1/person thru 5/11. Does that mean if you pay your car note 5/9 you would not have been able to spin and earn rewards?
This post was edited on 5/11/22 at 8:00 am
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/11/22 at 9:53 am to
quote:

Did you opt for the free card or the one with the $150 annual fee?

I have the $150 annual fee card. I max out the Amazon 5% rewards each month so that pays for itself for us (the $150 card you get to buy $500 a month of Amazon gift cards and get 5% rewards + a purchase wheel spin) . You also get a MUCH better spin wheel so if you are doing large purchases like Mortgage and CC bill monthly, you will make up that $150 fee within 2-3 months

quote:

One other question, why does it say limit 1/person thru 5/11. Does that mean if you pay your car note 5/9 you would not have been able to spin and earn rewards?
Is this in reference to the higher paying wedges on the wheel? I think that is what you are alluding to. For the bigger wedges such as 4% and 5% back, once you hit it once, you can't hit it again until the wheel resets every 2 weeks.
This post was edited on 5/11/22 at 9:56 am
Posted by bbap
Baton Rouge, LA
Member since Feb 2006
96013 posts
Posted on 5/11/22 at 9:59 am to
quote:

Is this in reference to the higher paying wedges on the wheel? I think that is what you are alluding to. For the bigger wedges such as 4% and 5% back, once you hit it once, you can't hit it again until the wheel resets every 2 weeks.



It's in your screenshot in the small print where you got 4% back, so yeah you probably answered the question correctly. Thanks.
Posted by tigersint
Lafayette
Member since Nov 2012
3548 posts
Posted on 5/23/22 at 9:46 am to
I just set it up for mortgage payment.

I can pay off a credit card this way as well?
How do i enter a credit card as a bill into
PayPal?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80779 posts
Posted on 5/23/22 at 2:54 pm to
Depends on which CC company but yes, I have been paying off all my Chase cards. My Fidelity card is not on there though.

You search for the company just like you did for your mortgage, click on it and your account number is your CC number. It asks for the CC company zip code (don’t confuse it with asking for yours). Pull a recent statement to get that.
Posted by tigersint
Lafayette
Member since Nov 2012
3548 posts
Posted on 5/25/22 at 9:28 am to
Another quick question.

I just did a test by paying $.1 bill through PayPal with the card going towards my mortgage. The transaction went through but it says in my mortgage statement that the payment was put down on my principal. How do I apply the money to the monthly note through Paypal?
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