- 3X points at gas stations and restaurants
- 2X points on purchases made through PayPal and eBay
- 1X point on all purchases wherever Mastercard is accepted
- Mastercard identity theft protection
- Regular Purchase APR: 21.49%, 25.49%, or 28.49% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 23.74% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $39
At a Glance
When you add a PayPal Extras Mastercard® to your PayPal account, your online transactions get a little bit sweeter. This cobranded retail card earns 2X points every time you press the checkout button with PayPal or eBay. Perhaps more importantly, it also accrues 3X points on dining and gas for a boost to your daily expenses. You’ll never earn less than 1X points on all purchases, and the wide variety of redemption opportunities makes these rewards as easy to use as they are to earn.
Ideal for Those Who:
- Use PayPal to make the majority of their online transactions
- Want a credit card that rewards the most for gas, restaurants, and online purchases
- Frequently buy items from eBay
- Are looking for a rewards Mastercard with no annual fee and flexible redemption options
PayPal Extras Mastercard® Review
As the name implies, the PayPal Extras Mastercard® was designed to reward faithful users of the PayPal payment platform. Every purchase you make through PayPal or on eBay earns extra rewards, which you can turn into cash back, gift cards and even travel vouchers.
While your online purchases become more rewarding, you’ll also earn points on some of your biggest monthly expenses: gas and dining. These extra rewards can make this credit card an easy addition to any online shopper’s wallet.
Enhance Your PayPal Account with Extras
The most unique feature about this PayPal Mastercard is the ability to earn extra points on purchases specifically made with PayPal or eBay. Many e-stores now accept PayPal as a payment method. Arguably, this means you can earn rewards on almost all your online purchases with this credit card.
Of course, you’ll need to have a PayPal account set up already in order to apply for the card. Once you set this as the preferred payment method in your account, you’ll rack up rewards without even thinking about it.
If you want the chance to earn even more, you can even add additional authorized users onto the account. That way, you’ll earn rewards on all their purchases as well as yours. Just keep in mind that you’ll be responsible for the bill, and any improper use on their part can hurt your credit.
Where Can I Use My PayPal Mastercard?
As previously suggested, you can use this PayPal credit card with any merchant that accepts Mastercard as a payment method. This includes both online and physical stores, with or without the PayPal platform. In fact, you actually earn more points when you use this card at gas stations and restaurants than you do with online shops.
These additional rewards help to elevate the PayPal Extras Mastercard to the best retail rewards cards. In order to earn them, however, the purchase must fall under the correct merchant code. For example, gas stations attached to superstores usually don’t qualify, since they typically fall under a different code. The same often applies to restaurants inside superstores.
Even if a particular establishment doesn’t have the correct merchant code, you’ll still earn 1X point for all purchases. These points expire two years from the date you earn them, so you won’t want to wait long to cash in. It’s also worth noting that if you miss two consecutive payments, you forfeit all of your rewards. For the sake of your points (and your credit score), make sure to pay at least the minimum amount on time.
According to the PayPal Mastercard rewards terms, you have several opportunities to cash in your rewards before they expire. Each option requires you to amass a specific amount of points before you can start to redeem them, as follows:
- 800 points…gift cards for restaurants, gas, retail
- 3,000 points…merch in the store
- 6,000 points…$50 cash rewards, statement balance
- 15,000 points…travel voucher
Unfortunately, PayPal doesn’t provide specific information about point values outside of the cashback option. For a little perspective, you would need to spend at least $2,000 in the 3X rewards category alone to reach 6,000 points.
To redeem for cash back, you’ll need a PayPal Cash or Cash Plus Account. Otherwise, you must connect a bank account or debit card to the PayPal account as well to receive the statement credit. Airfare, hotel stays and rental cars purchased with a travel voucher must be booked at least 21 days ahead.
Other Extras from the PayPal Extras Mastercard
One popular reason for using PayPal to make online purchases is that it helps keep your information safe. Adding a PayPal Mastercard only enhances this, since it offers its own identity theft protection from Mastercard. This comes with the following perks:
- Identity monitoring for different pieces of personal information (I.e email, credit cards, Social Security Number)
- Resolution assistance if your identity is compromised
- Credit monitoring for fraudulent activity
All these features and rewards come with no annual fee, so you can spend your funds on more important expenses. On the other hand, the APRs for this card rest on the higher end of the spectrum. This is typical of retail cards, which tend to take advantage of cardholders who carry balances. Keep this in mind, as balances with high interest can quickly get out of hand.
Should You Apply for the PayPal Extras Mastercard®?
If you find yourself making frequent online purchases with a PayPal or eBay account, the PayPal Extras Mastercard can make your transactions even more worthwhile. Since so many online merchants accept PayPal, you have more earning flexibility than you would get with most other retail cards. You also have different options for redemption, unlike some cards which only offer discounts from the card’s sponsor.
This is one of only a few credit cards currently offering additional rewards specifically in the online shopping category. If you want to compare other cards with this feature, consider options like these:
- The Amazon Prime Rewards Visa Signature Card provides rewards for purchases made on the site and with Whole Foods (5% cashback for Prime members, 3% for non-members)
- The Discover it® Cash Back has rotating rewards categories that earn 5%, with one quarter dedicated to Amazon, Target.com, and Walmart.com purchases.
- The Bank of America Cash Rewards Credit Card now has its own online shopping category that earns 3% when you select it as your choice category