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Frequent Contributor
Posts: 299
Registered: ‎06-27-2017

Re: Paypal 2% Mastercard now publicly available

[ Edited ]

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.

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Regular Contributor
Posts: 196
Registered: ‎03-07-2017

Re: Paypal 2% Mastercard now publicly available

[ Edited ]

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.

AMEXPRG.jpgBCP.jpgstarwood-preferred-guest.pnggold-delta-skymiles.pngCapOne QS new.pngavsf0i.pngciti-double-cash-credit-card.jpgplatinum_visa_card.png41VgxfCVJOL.jpg
pp-mc-final.pngIT_CHP_GARNET.pngplccPrimeStoreCard_243x154._TTD_.png20151006_sc_header_cards.pngPayPal_Credit_Logo_v2.jpg
New Contributor
Posts: 56
Registered: ‎07-13-2017

Re: Paypal 2% Mastercard now publicly available

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!!!!

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Senior Contributor
Posts: 8,938
Registered: ‎04-23-2016

Re: Paypal 2% Mastercard now publicly available

Spock, it still can be more when you get the card and if not it will grow. I beg to differ that Synchrony is the worst. Most times we see people apping multiple cards in a limited time or fudging their income to create problems with Synchrony..

I got my DC at $1200 sl and it took me awhile before i even got an increase let alone a workable increase. With Synchrony that can be solved with one phone call to Credit Solutions especially if your report is in order and your TU is good. Just food for thought Smiley Wink
Frequent Contributor
Posts: 250
Registered: ‎07-19-2017
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Re: Paypal 2% Mastercard now publicly available


Ringwraith1986 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.



FICO 08 (Sep 2017): EX 657 / EQ 660 / TU 683 - Gardening until 04/30/18!
Regular Contributor
Posts: 129
Registered: ‎12-13-2015
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Re: Paypal 2% Mastercard now publicly available


Spock2017 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!!!!


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). 
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Posts: 15,049
Registered: ‎10-07-2014

Re: Paypal 2% Mastercard now publicly available


Ringwraith1986 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.

Regular Contributor
Posts: 196
Registered: ‎03-07-2017

Re: Paypal 2% Mastercard now publicly available

@Irish
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.
AMEXPRG.jpgBCP.jpgstarwood-preferred-guest.pnggold-delta-skymiles.pngCapOne QS new.pngavsf0i.pngciti-double-cash-credit-card.jpgplatinum_visa_card.png41VgxfCVJOL.jpg
pp-mc-final.pngIT_CHP_GARNET.pngplccPrimeStoreCard_243x154._TTD_.png20151006_sc_header_cards.pngPayPal_Credit_Logo_v2.jpg
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Posts: 15,049
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Re: Paypal 2% Mastercard now publicly available


Ringwraith1986 wrote:
@Irish
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.

Regular Contributor
Posts: 196
Registered: ‎03-07-2017

Re: Paypal 2% Mastercard now publicly available


Irish80 wrote:

Ringwraith1986 wrote:
@Irish
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.

AMEXPRG.jpgBCP.jpgstarwood-preferred-guest.pnggold-delta-skymiles.pngCapOne QS new.pngavsf0i.pngciti-double-cash-credit-card.jpgplatinum_visa_card.png41VgxfCVJOL.jpg
pp-mc-final.pngIT_CHP_GARNET.pngplccPrimeStoreCard_243x154._TTD_.png20151006_sc_header_cards.pngPayPal_Credit_Logo_v2.jpg

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