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Paypal 2% Mastercard now publicly available

Frequent Contributor

Re: Paypal 2% Mastercard now publicly available


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.

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 11 of 139
Regular Contributor

Re: Paypal 2% Mastercard now publicly available

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
Message 12 of 139
New Contributor

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!!!!

Cap 1 Venture (14k) ~ Fifth Third Truly Simple (12k) ~ Fifth Third Simple #2 (10k) ~ Fifth Third Trio (10k) ~ AMEX ED (10k) ~ Huntington Voice 3x Reward (10k) ~ Huntington Voice APR (10k) ~ Discover IT (7.5k) ~ PENFED Power Cash (10k) ~ PENFED Platinum Reward (10k) ~ Gardner White Comenity (6.8k) ~ Chase Freedom (6k) ~ Wells Fargo Plat (5k) ~ Amazon (5k) ~ Sams Club (5k) ~ Alliant (5k) ~ Kohls (3k) ~ Marvel (3k) ~ DICKS (2.2k) ~ Flagstar (2k) ~Cap 1 Plat (1.6k) ~ CITI Simpl (1k) ~ AMEX BCE (1k) ~~ TCL $157,000
F8 EX 600 (3/17)
F8: EQ 745, TU 754, EX 741 (8/17)
~~ UTIL 2% INQ 8 (12 mo)
Message 13 of 139
Super Contributor

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
Message 14 of 139
Frequent Contributor

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 (Nov 2017): EX 635 / EQ 635 / TU 666 - Gardening until 05/30/18!
Message 15 of 139
Regular Contributor

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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Current Score:670 to 685
Goal Score:740 to 770


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Message 16 of 139
Moderator

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.

Message 17 of 139
Regular Contributor

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
Message 18 of 139
Moderator

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.

Message 19 of 139
Regular Contributor

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
Message 20 of 139