I just learned about Paypal Bill Pay. From my understanding, after watching a youtube video, is that you can pay say your utility bills or property taxes via paypal, and paypal will use your designated credit card , free of charge to you.
How does this work? Someone has to pay the credit card company for the transaction. They always charge a 2-3% fee.
Seems impossible.
Right now I have to pay my electric, natural gas, water/trash bills via my checking account. This amounts to about $300 per month. Would be nice to get 1.5 to 2% credit card points paying these utility bills.
Someone please enlighten me how this would work :) It would also be handy when trying to meet a spend amount for a credit card sign up bonus.
My water/trash, electric and natural gas companies all charge something like 2% fee if I use a credit card directly, i.e. without the "magic" of paypal bill pay.