Why Slickdealers Love the PayPal Cashback Mastercard®

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Among the sea of cash-back credit cards, the PayPal Cashback Mastercard® stands out for its strong reward rates, simple earning structure and no annual fees.² With an unlimited 3% cash back on PayPal purchases and 2% back on all other purchases, it’s easy to see why Slickdealers are excited about the PayPal Cashback Mastercard.¹ 

While there is no sign-up bonus at the moment, there are still plenty of reasons to consider adding the PayPal Cashback Mastercard to your wallet.

3% Cash Back on PayPal Purchases

A standout feature of the PayPal Cashback Mastercard is its generous 3% cash back at millions of online merchants that accept PayPal.¹ Since PayPal is a common checkout option on many online websites and apps, the 3% cash back can encompass spending across many categories, including online shopping, delivery app orders, online groceries, streaming subscriptions, travel bookings and so much more. Most credit cards only offer elevated rewards on a few of these categories or on a rotating basis. But with the PayPal Cashback Mastercard, you can consistently earn the same 3% across all of these categories.  

Users like Slickdealer u/michaelelliott127 rave about the card, stating:

I love this card so much. I use PayPal to purchase almost everything I buy online which using this card gets you 3% back as well as 2% on everything else. The cash back goes straight towards my bill. Honestly my favorite card I use for 90% of my purchases. I have about 10 different store credit cards that get me 5% off every purchase at those specific stores (Amazon card for Amazon, Lowes card for Lowes, Academy for Academy), so any other purchase I'm at least getting 2-3% cashback minimum with this one. I use this card for my utility bills as well, might as well save money on what you have to pay for anyways. No annual fee. 10/10 Would highly recommend.

(See Terms and Rates for New Accounts)

And as always, Slickdealers tend to find creative ways to get even more value out of anything, with Slickdealer u/Rindv noting, "If you add Gpay to use PayPal from this card, you also get 3% for ALL Gpay purchases, I love this card."

PayPal Cashback Mastercard®

Apply Now

Secure application on issuer’s website. Applications are subject to credit approval. You must be at least 18 years old and reside in the US or its territories to apply.

• Our Rating 4/5 How our ratings work
• APR20.24% - 32.24% Variable APR (rates as of 9/1/2023)
• Annual Fee$0

The PayPal Cashback Mastercard® is ideal for those who shop online a lot, especially at stores that accept PayPal. You'll get an unlimited 3% back on PayPal purchases and a flat 2% back everywhere else Mastercard is accepted. It's an easy, hassle-free card with high rewards on most of your everyday shopping.

• Overview
• Pros & Cons

Overview

The PayPal Cashback Mastercard® is a card that offers great value for people who shop online a lot, especially wherever PayPal is accepted. You earn unlimited 3% back wherever you can use PayPal at checkout, and a flat 2% back everywhere else Mastercard is accepted. This makes the PayPal credit card a smart choice for shoppers who buy things both online and in stores. Considering it’s a card with no annual fee as well, there are many reasons we think this card is worth your consideration.

Pros

• High cash back rate even for non PayPal purchases
• Great for people who shop online a lot where you can checkout with PayPal
• No annual fee
• No rotating categories

Cons

• No sign-up bonus
• Some cash back cards have higher rates in some categories

Flat 2% Cash Back on All Other Purchases

In addition to its generous rewards on PayPal transactions, the PayPal Cashback Mastercard offers a competitive flat rate of 2% cash back on all other purchases.¹ The 2% back competes with the best 2% flat-rate cards out there, making it an attractive option for everyday spending.

Slickdealer u/SharpShoe5834 asserts that this is "my favorite credit card to use a guaranteed 2% on every purchase."

Another Slickdealer, u/Ejsdad12, adds, "The 3% on every PayPal purchase and 2% on everything else is easy and rewarding without restriction."

Unlimited Earning Potential

Unlike some cards that have a spending cap on reward categories, the PayPal Cashback Mastercard offers unlimited cash-back potential. You can spend in your 3% and 2% categories without worrying about hitting a limit or spending cap.¹

Slickdealer u/OrangeHorn700 reminds another user that the "PayPal card has no cap on 3% cashback" when asked whether another card that offers 3% in online shopping is a better option.

Easy Rewards Redemption

The PayPal Cashback Mastercard also makes the redemption process easy by providing users with immediate access to the rewards they earned. Rather than waiting for the billing period to be over, you can redeem your rewards as soon as they post to your account.³

"This card is so simple," Slickdealer u/darkhunter00 attests. "The cash back hits your account super quick and you can instantly redeem it to your PayPal balance and then instantly use it to pay back down your credit card. It works fantastic and the 2/3% is great value too."

Slickdealer u/Ejsdad12 loves the flexible redemption process, highlighting, "The cashback is sent to your PayPal account that you can then transfer to the bank of your choice. It can go to a checking account if you want. Mine goes directly to my high yield savings account."

Convenient Checkout at Numerous Merchants

In addition to its rewarding cash-back structure, the PayPal Cashback Mastercard offers seamless integration with millions of merchants and brands, making it a convenient choice for both online and in-store purchases. You can often find PayPal at checkouts across numerous websites, and you can even use PayPal in stores when you set up the proper payment settings.

As Slickdealer u/ski522 confirms, "If you pay using the PayPal app, then it's 3% back. I use it often for sites that accept PayPal directly, like eBay and other online sites."

Bottom Line

It's easy to see why the Paypal Cashback Mastercard is so popular. With its high earning rates, unlimited rewards potential and easy redemption process, this card is getting a lot of deserved love and attention from cardholders. If you're an avid online shopper, the PayPal Cashback Mastercard is a no-brainer.

That said, Slickdealers are always looking out for that extra edge. Unfortunately, the PayPal Cashback Mastercard does not offer any sign-up bonuses at the moment. But when you consider its competitive cash-back rates and ease of use, the PayPal Cashback Mastercard still edges out many other cards with its winning combination of convenience and rewards.

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^{The PayPal Cashback Mastercard is issued by Synchrony Bank pursuant to a license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. The Contactless Indicator mark, consisting of four graduating arcs, is a trademark owned by and used with permission of EMVCo, LLC. Mastercard, Tap & Go and the circles design are registered trademarks of Mastercard International Incorporated.}

^{¹Purchases are subject to credit approval, and the PayPal Cashback Mastercard must be used for payment. See Rewards Program Terms for details and restrictions.}

^{²The PayPal Cashback Mastercard features no annual fee. See Terms and Rates for New Accounts.}

^{³Important information on redeeming Cash Rewards: You need to have a PayPal Balance account to use your redeemed rewards in your balance. If you do not have that account, you can only transfer your Cash Rewards to your bank account or debit card linked to your account with PayPal.}