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Paypal 2% Mastercard now publicly available

Valued Contributor

Paypal 2% Mastercard now publicly available

There is an option to apply directly now. The card has been renamed to the Paypal Cashback Mastercard (Paypal Extras Mastercard still is available) and there is no mention of the inferior Platinum version, so if approved even for a small amount seems it will be a 2% card.

 

https://www.paypal.com/us/webapps/mpp/credit-card/2-percent-cash-back-mastercard

 

Message 1 of 139
138 REPLIES
Established Contributor

Paypal 2% Cashback Mastercard Now Publicly Available

Hey Guys! This card is open for everyone now. I just got approved for it though I should let you guys know.

 

https://www.doctorofcredit.com/paypal-2-cashback-mastercard-now-publicly-available/


FICO 08 (Feb 2018): EX 629 / EQ 620 / TU 666 - Gardening until 08/31/18!
Message 2 of 139
Community Leader
Super Contributor

Re: Paypal 2% Mastercard now publicly available

Thanks for sharing! May we let the new flavor of the month commenceSmiley Wink ? Smiley Wink
To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 3 of 139
Valued Contributor

Re: Paypal 2% Cashback Mastercard Now Publicly Available

I thought I was done with getting new credit cards, but this one I could use. I need to unfreeze my reports, though. Anybody know who they pull? Since it's Synchrony, I will assume TU unless I learn otherwise.

Message 4 of 139
Established Contributor

Re: Paypal 2% Cashback Mastercard Now Publicly Available


Gunnar419 wrote:

I thought I was done with getting new credit cards, but this one I could use. I need to unfreeze my reports, though. Anybody know who they pull? Since it's Synchrony, I will assume TU unless I learn otherwise.


It was TU for me!


FICO 08 (Feb 2018): EX 629 / EQ 620 / TU 666 - Gardening until 08/31/18!
Message 5 of 139
Regular Contributor

Re: Paypal 2% Cashback Mastercard Now Publicly Available


Gunnar419 wrote:

I thought I was done with getting new credit cards, but this one I could use. I need to unfreeze my reports, though. Anybody know who they pull? Since it's Synchrony, I will assume TU unless I learn otherwise.


When I got mine, it was TU. 

Message 6 of 139
Established Contributor

Re: Paypal 2% Mastercard now publicly available

The attention is on the 2% flat rate earnings.  What about the redemptions?  Will there be a minimum amount?  How fast will the earnings post?  Citi Double Cash has two negatives:  the 1+1% which delays the posting of half the earnings and the $25 minimum redemption.  If PayPal can improve on these, they could clean Citi's clock!

In my wallet: Chase Sapphire Reserve • PenFed Power Cash Rewards
Also have: Chase United MileagePlus Explorer • UNFCU Azure • NFCU cashRewards • NFCU Go Rewards • PenFed Promise
Message 7 of 139
Senior Contributor

Re: Paypal 2% Mastercard now publicly available


UpperNwGuy wrote:

The attention is on the 2% flat rate earnings.  What about the redemptions?  Will there be a minimum amount?  How fast will the earnings post?  Citi Double Cash has two negatives:  the 1+1% which delays the posting of half the earnings and the $25 minimum redemption.  If PayPal can improve on these, they could clean Citi's clock!



Yes there is a minimum amount, you must redeem at least 1 point, which is worth 1 cent.

 

payredeem.png





TU-8: 799 EX-8: 793 EQ-8: 763    EX-8 Bankcard: 818    
TU-9 Bankcard: 795 EQ-9: 821
   EX-98: 756 EQ-04: 755
Total $437,800
Message 8 of 139
Established Contributor

Re: Paypal 2% Mastercard now publicly available


UpperNwGuy wrote:

The attention is on the 2% flat rate earnings.  What about the redemptions?  Will there be a minimum amount?  How fast will the earnings post?  Citi Double Cash has two negatives:  the 1+1% which delays the posting of half the earnings and the $25 minimum redemption.  If PayPal can improve on these, they could clean Citi's clock!


No minimum redemption.  The rewards post to your account when the statement closes.  From there, you can transfer the amount to your PayPal balance.  Once it's in your PayPal balance, it can be used like any other money (e.g., make payments, transfer to external bank account, pay for goods/services, etc).

 

Because it is also Synchrony Bank, the credit limit has the potential to grow.  Objectively, it appears to be the best flat earning cashback card (2% rewards, no minimum redemption, potential for credit limit growth).

Message 9 of 139
New Member

Re: Paypal 2% Mastercard now publicly available

OP, thanks for the link! Does anyone know if you can now have PayPal Credit and the PayPal Mastercard? Or is it still one or the other? 

Message 10 of 139