Mastercard Overview with PayPal Cashback
PayPal Cashback Mastercard® is a decent option for easy cash back, especially if you shop online frequently. If you’re looking for a rewarding card that offers simple cash back (and you don’t mind using the PayPal platform), this card could make a lot of sense. Card Rating*: ⭐⭐⭐
*Card rating It is based on the opinion of TPG editors and is not influenced by the card issuer.
PayPal Cashback Mastercard is a good refund card because it offers an easy 1.5% return on everything and 3% cash back when paying with PayPal. You can also combine your earnings with PayPal offers to rack up more rewards on your purchases with the merchant. if you prioritize cash back on travel rewardsThis card meets the requirements.
However, one disadvantage is that if you are not a regular PayPal userYou will need to take an additional step to transfer your funds to an external account. However, in many cases, the effort could be worth it. The card has no annual fee and is recommended credit score of 580.
Let’s take a closer look at PayPal Cashback Mastercard to see if it’s right for you.
PayPal Cashback Mastercard information has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: Why you might want a cash back card
Pros and cons of PayPal Cashback Mastercard
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PayPal Cashback Mastercard Welcome Offer
Unfortunately, PayPal Cashback Mastercard does not offer a welcome bonus.
This is a bit disappointing compared to other no-annual-fee cards, but it’s still worth a look if you want simple cash back.
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Related: This month’s best welcome offers
PayPal Mastercard Cashback Benefits
It should come as no surprise that this simplified, no-annual-fee card doesn’t include many notable perks. However, you’ll enjoy purchase protection when you buy with PayPal, as well as some basic generic Mastercard benefits:
- Mastercard Identity Theft Protection
- Mastercard Global Service, including lost and stolen card reporting and emergency card replacement
Additionally, you will get instant access to this card upon approval in most cases. This means you probably won’t have to wait for the card to arrive in the mail to start using it.
Again, this is not the card for you if you’re looking for lavish travel benefits or lucrative statement credits. But if you’re just looking for easy cash back rewards, this card’s earning potential and easy redemption process outweigh its minimal list of benefits.
Related: 6 of our favorite credit card perks that go unnoticed
Get cash back with PayPal Cashback Mastercard
With the PayPal Cashback Mastercard, you’ll earn easy 3% cash back when you pay with PayPal and 1.5% cash back on all other purchases.
The biggest draw here is the option to earn 3% cash back with any retailer that accepts PayPal. This is especially attractive to those who make a lot of online purchases, as PayPal is widely accepted at online retailers. Additionally, you can use the PayPal QR code to pay in person at eligible stores.
You can also use the PayPal Rewards Program to earn even more rewards on PayPal purchases.
But even when you can’t use PayPal, you’ll get unlimited 1.5% cash back on all other purchases (as long as the merchant accepts Mastercard).
Although this card doesn’t offer lucrative tier bonuses, it’s a good option if you want a decent earning rate on all your purchases without having to juggle a handful of cards in your wallet.
Related: The best credit cards for online purchases
Redeem cash back on PayPal Cashback Mastercard
The PayPal Cashback Mastercard allows you to receive cash back at any time, with no redemption minimums.
First, rewards are available to transfer to your PayPal account within approximately three days after making an eligible purchase.
To make a transfer, you’ll need to go to the “rewards” section of your PayPal account, either online or through the PayPal app. You can then select the amount of cash back rewards you want to send to your PayPal account.
If you want your rewards to be true cash back in your bank account, you will need to take an extra step to use your cash back by transferring it to an external bank account. This is easy enough to do, but it’s still a minor annoyance compared to the simplicity of other programs not linked to PayPal.
Related: 5 reasons to have a cash back credit card in your wallet
What cards compete with the PayPal Cashback Mastercard?
There are other no-annual-fee cash back options to consider, including cards that earn more in non-bonus categories:
For additional card options, see our Complete List of Best Cash Back Cards.
Related: 5 Reasons Why I Love Chase Freedom Unlimited as a Credit Card Newbie
Is PayPal Cashback Mastercard worth it?
PayPal Cashback Mastercard is a decent (if simple) credit card for cash back enthusiasts, especially if you’re a frequent PayPayl user. If you’re looking for a cash back card with no annual fee, this is a good option. However, if you want a welcome bonus or more benefits, you’ll need to consider other cards.
In a nutshell
PayPal Cashback Mastercard offers valuable and easy rewards and works as a good initial cash back card for those who don’t want to deal with different win rates and a bunch of complicated perks. Still, those who want to earn travel rewards or get more valuable benefits from a credit card will want to look elsewhere.
