Paypal/eBay Credit Card to Become a 2% Cash Back Card, At Least for Some

Updated

Reader Bill received an email offer to apply for a Paypal Mastercard which earns 2% cash back on all purchases. There’s even a PDF link in the email describing the details. After escalating, he was able to confirm over the phone that his card indeed earns a flat 2%, not the standard 3/2/1 earning structure of Paypal/eBay credit cards.

Card details:

  • 2% cash back into your Paypal account
  • No minimum redemption, as low as $.01
  • Unlimited cash back

As soon as the statement closes, the cash back is available to be transferred to your Paypal account. Once transferred, it’s like any Paypal balance which can be transferred over to your bank or transferred back to pay the Paypal credit card bill (a roundabout statement credit).

The fact that Paypal is shifting to a 2% card doesn’t surprise me. In fact, I once wrote about a survey I took from Paypal/eBay credit card which indicated they might head in that direction, as well as this Reddit thread which I suspect was about the Paypal/eBay card too.

For now, the public link still shows the 3/2/1 rewards program. Even is you use the email link that someone else got, it will redirect to the 3/2/1 card if you weren’t targeted.

As Bill points out, this card will be – in a way – the best 2% card since it doesn’t have any minimum redemption amount like Citi Double Cash ($25) or like Fidelity ($50). In any case, it’s another 2% card coming soon.

We’ve now gotten more information on the card so we wrote a full review.

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Credit-Boy-Toy
Credit-Boy-Toy (@guest_421010)
June 15, 2017 03:11

Just realized the link only works if ready to apply:
Here’s the info provided:
(also check this link for the rewards info) https://paypal.syf.com/consumereApply/Internet/paypaldc/en/pdf/TwoPercentCashback.pdf

2% cash back.* Every. Single. Purchase.
Simply shop, earn and redeem. It’s that easy. Then go ahead and high-five yourself. Go on, do it. You’ve earned it.

JUST A FEW OF THE PERKS
No annual fee**
No restrictions on the type of purchases you can make to earn cash back
No rotating categories to keep track of, just 2% cash back* on every purchase, every day – everywhere Mastercard is accepted
No hassle — conveniently redeem your Cash Rewards directly into your PayPal balance*

Credit-Boy-Toy
Credit-Boy-Toy (@guest_421009)
June 15, 2017 03:05

Just got this Paypal 2% cc offer when I logged into Paypal today. Anyone has seen it yet?
https://tinyurl.com/yc3vq5d5

Zack
Zack (@guest_378527)
March 28, 2017 14:10

Hey just wondering if anyone had any updates on this? Called paypal and synchrony, both csr’s were clueless on this. 🙁

Doug
Doug (@guest_344992)
January 28, 2017 05:54

I browsed the reddit thread and didn’t see anything leading to a PayPal connection. Is there something obvious I missed?

Mimi
Mimi (@guest_344873)
January 27, 2017 22:21

“As Bill points out, this card will be – in a way – the best 2% card since it doesn’t have any minimum redemption amount like Citi Double Cash ($25) or like Fidelity ($50). In any case, it’s another 2% card coming soon.”

I have to disagree with this because this is tied to Paypal, which means if your paypal account is shutdown for whatever reasons, they’re likely to freeze your EMC account and there goes your CB. I’ll stick to Citi DC which I’ve tried and tested as reliable since it first came out last quarter of 2014.

I dislike the fact that I can’t log in straight to Synchrony PPEMC account w/o passing through my paypal account : (.

Tamara
Tamara (@guest_344747)
January 27, 2017 15:29

I’m looking at my PP account now when I click my PP Debit Card link, it shows x-xxxx Tamara xxxxx. (primary)
Backup: PayPal MasterCard I’ve never tried using my actual debit card with the PP Extras linked. I just prefer the benefits/protections of the card itself being used as a primary payment. 2% all around is good, especially if it’s has an immediate benefit and the PP Extras does have a 6,000 minimum point level for a cash payout starting at $50. It’s lower for a actual reward redemption starting at 2200 points

AB
AB (@guest_344640)
January 27, 2017 10:23

Does the backup funding trick work for the PPBDC to stack with this to get 3%?

Josh m
Josh m (@guest_344641)
January 27, 2017 10:25
  AB

I kind of doubt it, last I tried i couldn’t even add ppbdc as a payment source on PayPal.

boyd
boyd (@guest_759169)
May 14, 2019 02:13
  AB

What is the backup funding trick?

James C.
James C. (@guest_344638)
January 27, 2017 10:20

Blispay doesn’t have a minimum redemption, and it gives you 6 months no-interest financing on purchases of $199 or more.

Justincase
Justincase (@guest_344701)
January 27, 2017 13:44

Agreed. I really like the Blispay card, I only wish it had more benefits to it (confirmed with Visa it only has the rental car protection, no purchase warranty extension).

Ben
Ben (@guest_344633)
January 27, 2017 10:04

Also, so much of my spend goes on new cards or on cards that earn more than 2% cash back, so it’s fairly far and between before I can cash out $ from my Doublecash ($25) or Fidelity ($50). The ‘no minimum cash out’ is pretty awesome and might be enough to get me to switch. Then again, that’s one more strike against me with Chase.

Filip
Filip (@guest_344631)
January 27, 2017 10:00

I got an email from PayPal today, offering me a 2% flat Mastercard (PayPal Extras).
So, they are rolling it also to new customers who don’t currently have the card.