Credit cards that allow you to earn cashback rewards on every purchase are definitely good credit cards. PayPal Cashback Mastercard is a credit card issued by Synchrony Bank on the Mastercard network. It offers its users cashback rewards on every purchase they make. The PayPal cashback Mastercard is one of the numerous cards of PayPal that allows PayPal users to finance their purchases. This card is arguably one of the best cash-back cards and it makes a whole lot of sense.
On the contrary, PayPal cash Mastercard comes with some huge fees that make it less appealing to users. For new accounts, a Variable Purchase APR ranging from 19.99%, 23.99%, and 26.99% is charged. The APR varies based on your creditworthiness. So, once you’re approved for application, you should expect a high APR on every purchase you make. More to its downsides is that it does not offer any welcome bonus, no cardholder perks, and it 3% fee is charged for every foreign transaction you make.
Benefits of PayPal Cashback Mastercard
Although this card comes with a high APR, it offers some enthralling and fascinating benefits which make it the right card for you. One unique feature of this card is that it is an open-loop card. You can use it almost anywhere in the world since Mastercard is accepted everywhere. So, we’ll be highlighting some of the benefits of this card below;
- On every purchase you make, you’ll earn 2% cashback.
- Unlike other credit cards, your cashback rewards do not expire. You can transfer them into your PayPal balance anytime you want.
- It comes with $0 annual fee. This means you can save a lot as you don’t have to worry on annual charges.
- There is no limit to the amount or rewards you can earn.
- No exceptions, purchase restrictions, and rotating categories.
- With this card, you can make contactless payment. Just Tap & Go anywhere you see the universal contactless symbol.
- It comes with identity theft protection. Should any suspicious activity be noticed on your account, PayPal will notify you about that.
When considering a credit card to add to your wallet, a valuable cashback card like a PayPal cashback card is best to consider. There are more other benefits that you’ll enjoy apart from what is mentioned above. To start enjoying these benefits, you should consider applying for the card.
Requirements Needed to Apply for PayPal Cashback Card
However, you should know that the PayPal cash Mastercard is not available for everyone. It is exclusively designed for PayPal users. In other words, you must have a PayPal account before you can apply for this card. Besides, you must be up to 18 years of age and reside in the United States or its territories before you can apply. Above all, you must be in good standing with your credit card provider. If you meet these requirements, you can proceed to apply for the check by checking the outline below.
How to Apply for PayPal Cashback Mastercard
Applying for a PayPal cashback card is pretty easy to go about as long as you have a PayPal account. When you apply for this card, you can enjoy the additional benefits of PayPal without any restriction. Follow the steps below to apply for the PayPal cashback Mastercard;
- Visit the PayPal cashback Mastercard application page on your browser.
- Tap ‘’Apply Now’’
- Login to your PayPal account if prompted.
Follow the on-screen instructions to complete the application process. Meanwhile, you may not be approved instantly after applying. Once you’re approved, at times, PayPal will add a temporary credit line to your account that can begin to use. Upon, approval, getting your card can take between 7-10 working days. And when you get the card, activate it so as to make your credit line fully available to you.