PayPal Cashback Mastercard® Credit Card Review

PayPal Cashback MasterCard® Review

This article will review the PayPal Cashback MasterCard® issued by Synchrony Bank that gives a fixed cash back rate on all purchases.

The PayPal Cashback MasterCard® is an ideal option for shopping, and you can use it anywhere MasterCard is accepted. It gives a fixed cashback rate of 2% on all purchases and has no annual fee. It has no bonus categories and no redemption limits. Also, the cash back rewards do not expire, so you can accumulate as much as you want.

You need to have an active PayPal account in good standing to sign up for this card.

The approval odds for this credit card are higher when you have at least a good credit score.

PayPal Cashback MasterCard: Pros and Cons

Rewards in a Nutshell

With the PayPal Cashback MasterCard®, you will receive a 2% cash back reward on all eligible purchases. To get this card, you must have a PayPal account.

The eligible purchases do not include convenience checks, cash advances, balance transfers, and fraudulent transactions. All cashback rewards appear on your monthly statement.

There is no minimum amount required to redeem your rewards. Also, there is no minimum amount of purchases you need to make to receive cash back, and neither is there a maximum limit of cash back rewards you can earn.

To redeem rewards, you need to have a PayPal Cash or Paypal Cash Plus account. In case you don’t have any of these accounts, you can transfer rewards to a bank account or a debit card linked to your PayPal.

Who Can Benefit from the PayPal Cashback MasterCard®?

The PayPal Cashback MasterCard® is an ideal option for people who want to earn cash back rewards on shopping. The best part with this no annual fee card is that it doesn’t charge foreign transaction fees. If you shop from international merchants, this card may be the ultimate. It doesn’t have any earning caps, so you are assured of some rewards back after each purchase.

Are There Any Other Benefits?

The PayPal Cashback MasterCard® comes with lots of additional benefits. With this card, you can enjoy the standard MasterCard benefits. These include;

Microchip Technology

The PayPal Cashback MasterCard® is chip-enabled for extra security. The EMV chip on the front of your card allows for more secure shopping at chip-enabled terminals. It helps protect your card against fraud.

Identity Theft Protection

With the PayPal Cashback MasterCard®, you can benefit from Mastercard’s identity theft protection if you fall victim to fraudulent use. This service monitors dark web and alerts you on any potentially damaging use.

Global Assistance

The PayPal Cashback MasterCard® allows you to enjoy MasterCard’s Global Assistance services. The 24/7/365 service provides you with various options for setting up cash advances, emergency card replacement and reporting stolen or lost cards.

Paypal Purchase Protection

When you use this credit card to make purchases through PayPal, you are eligible for the Paypal purchase protection. You can file a dispute within 180 days since the purchase was made.

Conclusion

The PayPal Cashback MasterCard® is a handy option if you are an avid shopper. The 2% cashback is quite good, given that this is a no annual fee card. If you shop from international stores or services, this card may be a great option as it doesn’t incur foreign transaction fees. However, the high variable APR of 20.24% - 32.24% may not be favorable if you carry balances. Identity theft protection and global assistance are universal for all standard MasterCard cards. Besides, the card is only available for PayPal members, and if you have a PayPal account in good standing, this card is a great option.