9/22/2023 0 Comments Paypal mastercardIf you’re familiar with your monthly spending habits, here’s a chart to help you understand the amount of cash back rewards you could earn each billing cycle with the PayPal card. Also, if your card is suspended or closed you will not be able to earn rewards and may be subject to forfeiting the ones you previously earned. It’s worth noting that your PayPal account must be open and in good standing in order for your credit card to earn and receive cash back rewards. “Purchases do not include balance transfers, cash advances, convenience checks, disputed or unauthorized purchases/fraudulent transactions or any other transactions that Synchrony Bank may determine in its sole discretion are not eligible to earn Cash Rewards.” Here are a few things that were excluded from cash back rewards in the fine print: Eligible purchases made by any authorized user(s) earn you 2%.Earn 2% on eligible purchases made everywhere else that Mastercard is accepted.Earn 3% on eligible purchases you make using your card account through your PayPal account (online or in-store).You can use this card to spend on PayPal or wherever Mastercard is accepted worldwide. Unlike some cash back cards, there are no purchase category requirements or spending minimums to earn your full rewards from the PayPal cash back card. How the PayPal Cash Back Program Works Earning: Spending Rules For 2% vs. Balance Transfer Fees: This card does not offer a balance transfer fee or APR within its offer details.Foreign Transaction Fee: 3% of the total transaction.Cash Advance Fee: Either $10.00 or 5% of the amount of each cash advance, whichever is greater.Here’s a quick look at some of the fees you may encounter: There is no annual fee for being a PayPal Cashback Mastercard cardholder, but you may still incur some fees along the way. Zero Fraud Liability: PayPal says cardholders “automatically receive zero liability for any unauthorized charges” through Mastercard.Since you are required to have a PayPal account attached to this PayPal-branded credit card you can simply transfer the cash back to your PayPal balance. Easy Reward Redemption: One of the top perks of this card is that there are no spending minimums required to claim your cash back balance.If you’re not a high-volume spender, taking the lower cash back rewards rate from a card like this and skipping the annual fee is probably the move that creates the most profit. No Annual Fee: Some of the major cards in the rewards category require an annual fee.As long as it’s a purchase of a good or service, you should get at least 2% cash back. I checked the fine print for what types of transactions would be prohibited from earning the cash back, and there were no surprises. An unlimited 3% back on purchases made with PayPal either in person or online, plus an unlimited 2% everywhere else Mastercard is accepted, is very strong. Cash Back Rewards: The selling point for this card is this cash back rewards program.PayPal Cashback Mastercard®: Card Specs and Perksīefore we get too far into whether or not this card might be the right choice for you, let’s take a look at some of the perks and drawbacks of the card from the fine print. We determined that the 2% unlimited cash back offering alongside the 3% back earned using PayPal is attractive enough to warrant consideration alongside the Citi Double Cash, which we have ranked as the top “everyday cash back card” based on its unlimited 2% cash back rewards.Īs you’re making your decision on whether the PayPal cash back credit card is a fit for you, please use Team Clark’s review of the card in conjunction with money expert Clark Howard’s 7 Rules for Using Credit Cards. The PayPal Cashback Mastercard is one of the options we evaluated. Team Clark has spent some time reviewing the cash back rewards credit card market. Difference Between PayPal Cashback Mastercard® and Citi® Double Cash Card – 18 month BT offer.What Is the PayPal Cashback Mastercard®?.Team Clark explored the viability of the PayPal Cashback Mastercard in this review by digging into the fine print, exploring the cash back rewards program and completing a head-to-head comparison with the Citi Double Cash card. This number matches the 2% (1% as you spend, 1% as you pay for those purchases) offered by the card_name, which is one of money expert Clark Howard’s favorite credit cards.Ī card overhaul in June 2022 now offers up to 3% back on purchases made with the card through PayPal. The PayPal Cashback Mastercard®has long offered a competitive unlimited 2% cash back rewards on everyday purchases. If you’re in the market for a cash back credit card, online payment giant PayPal has a contender worth considering in 2023.
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