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@CommanderLexa wrote:Objectively, it appears to be the best flat earning cashback card (2% rewards, no minimum redemption, potential for credit limit growth).
This is wonderful news for all of us! If PayPal can break Citi's de facto monopoly on the 2% cashback market, then we will see other banks start to offer similar 2% cashback cards. Chase, Capital One, NFCU, and Bank of America will have to upgrade their 1.5% cashback cards to 2%, and Amex will have to seriously consider entering the flat rate market that they have avoided until now. And 3-2-1 cards will have to be restructured, because nobody will use them for anything other than the 3% bonus categories.
I have paypal credit and applied. Approved for 3k. Also, it seems to be legit cashback and not points. The lack of minimum redemption plus better starting limit that will most likely grow means this will probably replace my DC as my daily driver. My DC only wins out in APR at 15.24% vs 24.99% for Paypal. Doesnt matter as I PIF anyway but it nice to have a relatively low interest rate for emergencies.
Yesterday PENFED approves me for $15k instantly online.....today I see the new Paypal 2% card so I apply.....it tells me to call the fraud dept. I talk to a guy on the phone to verify address etc....he comes back...."congratulations you are approved for.......$300...!!!!"....he was all excited...I asked "$300???" disgustingly..."yes sir, can I help you with anything else?". I was so shocked I simply said goodbye. I do have a shred of dignity...LOL....I go into a shoe store with $300 I come out with one shoe!! Synchrony is the worst!!!!
@Anonymous wrote:
I have paypal credit and applied. Approved for 3k. Also, it seems to be legit cashback and not points. The lack of minimum redemption plus better starting limit that will most likely grow means this will probably replace my DC as my daily driver. My DC only wins out in APR at 15.24% vs 24.99g for Paypal. Doesnt matter as I PIF anyway but it nice to have a relatively low interest rate for emergencies.
That's good to know! I've been thinking about getting PayPal Credt but wanted to get this card first. What does Paypal Credit pulls? I thought Equifax but no sure.
I believe I read that the $300 reflects the temporary limit provided when you have to go through a security verification; you'll find out the full limit upon receiving the card (unless the account reports before you receive the card and you'll find out then).
@Anonymous wrote:Yesterday PENFED approves me for $15k instantly online.....today I see the new Paypal 2% card so I apply.....it tells me to call the fraud dept. I talk to a guy on the phone to verify address etc....he comes back...."congratulations you are approved for.......$300...!!!!"....he was all excited...I asked "$300???" disgustingly..."yes sir, can I help you with anything else?". I was so shocked I simply said goodbye. I do have a shred of dignity...LOL....I go into a shoe store with $300 I come out with one shoe!! Synchrony is the worst!!!!
@Anonymous wrote:
I have paypal credit and applied. Approved for 3k. Also, it seems to be legit cashback and not points. The lack of minimum redemption plus better starting limit that will most likely grow means this will probably replace my DC as my daily driver. My DC only wins out in APR at 15.24% vs 24.99g for Paypal. Doesnt matter as I PIF anyway but it nice to have a relatively low interest rate for emergencies.
How were you able to apply with already having PP credit? When I clicked on link, it made sign into PayPal account and said offer wasn't available or something like that.
@Anonymous wrote:
@Anonymous
I used the direct offer link from doctorofcredits blog. Maybe thats why? I would post a link but I'm on mobile.
@shoegal
Im pretty sure paypal credit is an Eq pull from comenity. Ive heard sometimes they double pull Ex. Its a nice to have in the financial toolbag. Hidden tradeline and 6mo no payment no interest over $99.
Thanks for the reply and data. Interesting that PP will let you get the card that way. I was more curious for others as I really don't use cashback cards much and if I did, I'd gof or the 2.5% USAA Limitless. Still seems like a good card and easy redemptions which is always a good thing.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous
I used the direct offer link from doctorofcredits blog. Maybe thats why? I would post a link but I'm on mobile.
@shoegal
Im pretty sure paypal credit is an Eq pull from comenity. Ive heard sometimes they double pull Ex. Its a nice to have in the financial toolbag. Hidden tradeline and 6mo no payment no interest over $99.Thanks for the reply and data. Interesting that PP will let you get the card that way. I was more curious for others as I really don't use cashback cards much and if I did, I'd gof or the 2.5% USAA Limitless. Still seems like a good card and easy redemptions which is always a good thing.
I would love to get the USAA 2.5% Limitless but alas, I am not so lucky as to have military affiliation for membership.
Direct Application Link from DoC if anyone needs it.