Paypal Credit Card
This credit card doesn’t get a lot of attention, but there’s a credit card from eBay and Paypal which offers 3 points on gas and restaurant purchases, 2 points on eBay and Paypal purchases, and one point on all other purchases. Each point is worth 5/6 of a penny, making it 2.5% on gas and restaurants, 1.66% on eBay and Paypal, and .83% on all other purchases.
This could be a decent card for gas and restaurant purchases, though there are lots of options which would be better, see Best Gas Credit Cards, and Best Credit Cards for Restaurant Spend.
Annual Cap
Anyway, I’m very active on my Paypal account, and I use this card for various reasons. The issue for me has been that there’s a cap of 50,000 points which can be earned per year, which would be only $13,333 of gas and restaurant spend, or $25,000 of Paypal/eBay spend.
The question arises: Is the cap based on the calendar year or the card-anniversary year?
The Terms and Conditions indicate that it’s dependent on the card-anniversary year:
The maximum amount of Reward Points Cardholders can accumulate in a Card Year is 50,000.
However, when I maxed out my 50,000 points, they indicated on my credit card statement that it’s dependent on the calendar year. Here’s a screenshot:
Since a new calendar year just started, I was able to verify that the reset is based on the calendar year. On my statement which cut on January 14, I began earning rewards again, despite having maxed out rewards in 2014.
Additionally, the purchase I made was actually made in December 2014, yet I earned rewards on it. This indicates that the annual cap on rewards is dependent on the post-date, not on the purchase date. Since the rewards posted in 2015, I was able to earn rewards as part of my 2015 year.
More Details
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