PayPal Cashback Mastercard

The PayPal Cashback Mastercard is a cash back card designed for anyone seeking decent cash back rewards and no annual fee. It offers 3% cash back on PayPal purchases and 2% cash back on everything else: no rotating categories, nothing to keep track of. However, you won’t get a welcome bonus or an 0% introductory APR, and it’s a little skimpy on other rewards.

Our Rating

4.9/5.0

Welcome Offer

None

Annual Fee

$0

0% on Purchases

Reward Rate

2% to 3%

0% on Balance Transfers

How Does the PayPal MC Compare?

This card compares well to other cards that offer a simple cash back reward structure. Cash back never expires, and there is no limitations on how much you can earn.

Who is the PayPal MC best for?

If you shop online frequently and often use PayPal, you will enjoy the simple cash back reward that the  offers. However, this card does come with an 20.24% to 32.24% APR, so be careful to pay it off each month, if possible. 

Who would do better with a different card?

If you carry a balance, the APR is high, so you might want to consider a card with a lower APR if you have good credit. The Citi® Double Cash Card – 18 month BT offer card offers 2% cash back, 1% on purchases and 1% when you pay the bill. If you’re planning a major purchase, it also offers 0% introductory rate on purchases for N/A months.  

If you don’t mind keeping track of categories, the Blue Cash Preferred® Card from American Express can earn you up to 6% cash back at the grocery store and 6% cash back on streaming services. Everyone shops at grocery stores, and these days, most people have at least two or three streaming services. There is a spending cap on these rewards, though. 

The Capital One SavorOne Cash Rewards Credit Card card also carries no annual fee, and you can earn up to 3% cash back. Also, you can get $200 when you spend $500 in 3 months, which most people can do easily. 

Welcome Offer

None

Features & Benefits

SecurityEMV Chip Enabled, Fraud Monitoring, Zero Liability, Identity theft protection
Contactless PaymentsTap to Pay, Google Pay, Samsung Pay, PayPal
BenefitsPurchase Protection, 24/7 customer service
Travel PerksNone

Rewards

2% cash back
On all other eligible purchases
Earn 2% cash back on all other purchases
3% cash back
All eligible purchases
Earn 3% on Eligible Purchases you make using your Card Account through your PayPal account

Interest Rates & Fees

Annual Fee$0
Foreign Transaction Fee3% of each transaction.
Regular APR20.24% to 32.24% (V) APR

Pros & Cons

Pros
  • No annual fee
  • Up to 3% cash back
Cons
  • No welcome bonus
  • High APR
  • Foreign transaction fee
  • Requires good credit

What Are the Best Alternatives?

Citi<sup>®</sup> Double Cash Card - 18 month BT offer
Citi® Double Cash Card - 18 month BT offer

Rating

4.9

Rewards Range

1% to 2%

Annual Fee

$0

Synchrony Premier World Mastercard®
Synchrony Premier World Mastercard®

Rating

4.6

Rewards Range

2%

Annual Fee

$0

Capital One Spark Cash Select for Excellent Credit
Capital One Spark Cash Select for Excellent Credit

Rating

4.7

Rewards Range

1.5% - 5%

Annual Fee

$0

Related Articles