![]() The PayPal card, unfortunately, requires you to transfer your rewards as credits to your PayPal statement, which means that cardholders who are not active users of PayPal will have to put in some extra effort to receive their cash back. This is a major plus if you use the PayPal card infrequently, or plan to use it in conjunction with other cash back cards. The PayPal card allows you to redeem any amount once it is posted to your account, as long you have a statement balance. One of the major advantages to the PayPal card is that you aren’t required to accumulate a minimum amount of cash back to redeem your rewards. As long as you plan to use the PayPal card for at least a couple of years, you stand to earn more than with a card that comes with a lower cash back rate and a large sign-up bonus. However, in the long run a card with a higher rewards rate is preferable to a card with a large sign-up bonus. The PayPal card doesn’t include a sign-up bonus, but that is typical of cards that offer 2 percent cash back. The PayPal Cash Back card is no exception: In return for earning such a high amount of cash back, you need to be an active PayPal user to redeem your rewards. The PayPal Cash Back Mastercard is a bona fide 2 percent cash back card, offering unlimited cash back on all your purchases.Įvery 2 percent cash back card comes with some stipulations - the Citi Double Cash card, for instance, requires you to pay your bill on time to earn the full 2 percent rewards rate. On the downside, the card requires you to have a PayPal account to redeem your rewards, which could cause some serious reservations if you are not a fan of PayPal services. ![]() There are a handful of other cash back cards on the market - including the Citi Double Cash® Card - that offer a 2 percent cash back rate (1 percent when you buy and 1 percent as you make payments for those purchases), and the PayPal card, with no minimum redemption amount, aims to give them a run for their money. With the new PayPal Cash Back Mastercard, PayPal has stepped up its game by offering some serious rewards: 2 percent cash back on every purchase, with no minimum amount required to redeem. If you are a frequent user of PayPal, you may be familiar with PayPal’s previous Mastercard - PayPal Extras - an uninspired points-based card that offered a very poor return on its rewards points. ![]() PayPal has thrown a serious contender into the credit card race with its new cash back card. Get personalized offers from our partners in seconds. Find card offers for you: This card is not currently available on , but you can still find a great card offer for you! Our CardMatch tool can help match you with prequalified offers and cards that align with your credit history – with no harm to your credit score.
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