PayPal Cashback Mastercard®

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Last updated on June 8th, 2021

PayPal Cashback Mastercard

Earn Unlimited 2% Cash Back on All Purchases

PayPal Cashback Mastercard
  • Regular Purchase APR 19.99%, 23.99% or 26.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 26.99%
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Processing Network Mastercard
Best Benefits
  • Earn unlimited 2% back on all purchases
  • No foreign transaction fees
  • No annual fee
  • ID Theft Protection
Rates & Fees
  • Regular Purchase APR: 19.99%, 23.99% or 26.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR: 26.99%
  • Cash Advance Transaction Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
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At a Glance

The PayPal Cashback Mastercard® is an excellent option for everyone who wants a no-hassle rewards credit card in their wallet. Accepted everywhere Mastercard is accepted, this card boasts 2% cash back on all purchases with no redemption threshold or complicated categories to worry about.

Ideal for Those Who:

  • Are eager to earn 2% cash back on purchases without rotating categories
  • Do not want limits on when or how much of your cash back earned can be applied towards your PayPal balance
  • Seek a credit card offering identity theft support without an annual fee

PayPal Cashback Mastercard® Review

The PayPal Cashback Mastercard® is an enticing cash back Mastercard that offers exceptional value for no annual fee.

How to Earn Rewards

The card is similar to the Double Cash Card from Citi in that it earns 2% cash back on all eligible purchases. Unlike the Double Cash, however, the PayPal Card the 2% is flat – and not a 1% back on purchase and 1% back on payment formula.

Cardholders earn their 2% back when using their card anywhere in the world where either PayPal or Mastercard is accepted. Mastercard is the world’s second-largest payment network, with more than 40 million merchants in over 212 nations taking the Mastercard network.

PayPal, for its part, is accepted in over 200 countries and 25 different currencies. This means that with the PayPal Cashback Mastercard, you can expect your card to be accepted no matter where you shop.

Redeeming Rewards  

Cash back rewards with the card apply towards statement credits to an existing PayPal account or transfer to another linked bank account. Keep in mind that redeeming rewards to a PayPal account (the default option) requires a PayPal Cash or PayPal Cash Plus account. Without this, the only redemption option is for transferring funds to an external account.

Other Card Features

The PayPal Cashback Mastercard also features other perks, such as EMV chip technology and contactless payments. With Tap & Go® payments, cardholders can pay quickly and safely anywhere contactless payments are accepted.

The card also features the basic Mastercard protections, including:

  • Zero Fraud Liability:Cardholders pay nothing if their card is subject to unauthorized use or theft.
  • Mastercard Global Service:Emergency assistance nearly anywhere in the world, 24/7. Services include lost card reporting and replacement, emergency cash disbursement, and more.
  • ID Theft Protection:Complimentary credit report monitoring that alerts cardholders to any changes or fraud concerns.

Should You Apply for the PayPal Cashback Mastercard®?

The PayPal Cashback Mastercard® offers everyday value for no annual fee. While the card has no signup bonuses or intro APR offers to speak of, the unlimited 2% back is an excellent benefit.

However, the exceptional value of the PayPal card lies in the ability to pay practically anywhere in the world. Does the vendor accept Mastercard? You’re all set. Maybe they only take mobile payments via PayPal – no worries! Given the near-global reach of both PayPal and Mastercard, there really isn’t a place where the card won’t be accepted.

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