20 sats \ 3 replies \ @Quanah 13 May 2023 \ on: I cancelled my Fold Spin + subscription bitcoin
Fold is still awesome. You can pay off your credit card bills and mortgage using Fold as debit card through PayPal bill pay. This means every time you use your credit card you are double dipping, cash back from Chase and then also sats back from Fold. Also can use Fold as debit card to pay taxes. Free sats just for paying your monthly bills! If you have a mortgage or have more than $12000 in annual credit card bills then Fold is a no brainer.
I tried this - I was able to pay my phone bill for a few months using this method but it abruptly stopped working. I don’t know what I was doing wrong (if anything). I agree that if this works for you, it’s a nice perk. But you still have to spin the wheel which at this point feels insulting versus an incentive (given the reduced rewards).
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Fold said on Twitter it was an issue with PayPal and it is now fixed. But it’s ridiculous they were supposed to implement ACH rewards and focus more on using lightning but that all went away and now they are relying on PayPal to make the card worthwhile to pay mortgages and utility bills
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Paying my credit cards every month, and car payments via PayPal bill pay easily pays for the spin + subscription. I end up getting at a minimum 3 % cash back (2% cash back card, and fold 1%).
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