Paypal launched today a new credit card, the PayPal Business Cashback Mastercard which earns unlimited 2% cash back on all purchases and comes with no annual fee and no foreign transaction fees. There is no signup bonus being offered.
Press Release | Direct Application link
Anyone with a Paypal business account can apply for the card. The Paypal credit card is issued by WebBank. Comes with standard Mastercard benefits as well. The card comes with an instantly available card number upon approval.
Just signed up and got approved, currently no personal inquires on Equifax or Experian so far.
Can confirm they do make two personal credit inquires to Experian. One from ” EXPERIAN BUSINESS CREDIT ” and other from “WEBBANK/PAYPAL BC/CCC “.
Did they get merged?
Two pulls? Who do think they are? Cap1?
Just FYI…I have multiple WebBank business credit products (Capital on Tap MasterCard, Dell Business LOC) and none report to personal reports.
Added here thanks https://www.doctorofcredit.com/which-business-credit-cards-report/
So my hypothesizes regarding this business version of the 2% cashback card being offered is that they will soon not allow business accoints to receive Friends & Family transfers and also not allow such transfers from business accounts to personal accounts. Therefore they going to separate personal and business accounts as much as they can. All this due to the new IRS laws regarding the $600 1099 reporting thresholds
Doesn’t seem like a huge problem, right? Just have two accounts, one biz one personal. I’ve been running like that for more than decade.
PayPal already has Policy Updates that become effective July 28 doing exactly that:
PayPal Closes Loophole on Fee Avoidance
https://www.ecommercebytes.com/C/abblog/blog.pl?/pl/2022/6/1656036192.html
I wonder if this reports to personal credit. Wouldn’t mind getting it if it doesn’t for places that don’t accept American Express.
Will take 2MP( BBP) instead of cashback anyday
That’s capped at 50k though. So it’s great if you have like 5 BBP’s or something.
Indeed that 50k is soooo pitifully small…
Does this report to personal credit? And who do they pull?
Webbank pulled Experian when I got the Petal card years ago
Maybe they’ll offer a sign up bonus eventually. At least there is extended warranty, cell phone protection and no FTF. Idk how long these will last though
Added no FTF to the post, thanks