Synchrony PayPal 2% Cashback MC Data Points

[DaveInAZ]

Synchrony recently introduced the PayPal 2% CashBack Mastercard, earning 2% cashback rewards on every purchase. I applied 7/3/17 and was approved. Synchrony reports new accounts quickly, they reported my new account 7/5. In my CC Approvals post I had several questions about credit score needed and other requirements, so I thought it would be useful to start a Data Points thread.

General Requirements:

- You must have a PayPal account in good standing to apply. Cashback rewards are redeemed to your PayPal account. If your PayPal account is closed for any reason Sync will close your PayPal MC account. You access the Synchrony site for the card through your PayPal account.

- If you have PayPal Credit from Comenity you cannot have a PayPal Mastercard from Synchrony, it's one or the other. I had PayPal Credit which I rarely used, so I called Comenity in June and closed my PP Credit account. I have read that you can have 2 PayPal accounts, 1 personal & 1 business, to get around this, but I've had my PayPal personal account since 2005 and didn't want to mess around with it.

- Currently you can only apply for the 2% Cashback MC by invitation through PayPal, either by email or a banner when you log into PayPal.

- If you currently have a PayPal Extras MC you cannot apply for the Cashback MC, and Synchrony says that "currently" they cannot convert PayPal Extras to the Cashback MC.

Data Points:

TU FICO 08 score: (or Vantage score from Credit Karma or similar source if that's all you have available)

Approval/Denial:

Credit Limit Approved:

Derogs?: (BK/Collection/Etc)

Utilization:

Total TU Inquiries:

New Accounts in last 12 months:

Other Relevant Info:

[DaveInAZ]

TU FICO 08 score: 720 Fico 08

Approval/Denial: Instant approval

Credit Limit Approved: $7k

Derogs?: (BK/Collection/Etc): BK7 discharged 1/31/2011, 100% positive since, IIB accounts no longer reporting on TU

Utilization: 9%

Total TU Inquiries: 8

New Accounts in last 12 months: 4

Other Relevant Info: I've had a Sync Walmart card since 2/2013 & Lowes since 1/2015, both w/$10k CLs. Closed Amazon & Sams Club positive reporting Sync accounts

[Anonymous]

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@DaveInAZ wrote:

Synchrony recently introduced the PayPal 2% CashBack Mastercard, earning 2% cashback rewards on every purchase. I applied 7/3/17 and was approved. Synchrony reports new accounts quickly, they reported my new account 7/5. In my CC Approvals post I had several questions about credit score needed and other requirements, so I thought it would be useful to start a Data Points thread.

General Requirements:

- You must have a PayPal account in good standing to apply. Cashback rewards are redeemed to your PayPal account. If your PayPal account is closed for any reason Sync will close your PayPal MC account. You access the Synchrony site for the card through your PayPal account.

- If you have PayPal Credit from Comenity you cannot have a PayPal Mastercard from Synchrony, it's one or the other. I had PayPal Credit which I rarely used, so I called Comenity in June and closed my PP Credit account. I have read that you can have 2 PayPal accounts, 1 personal & 1 business, to get around this, but I've had my PayPal personal account since 2005 and didn't want to mess around with it.

- Currently you can only apply for the 2% Cashback MC by invitation through PayPal, either by email or a banner when you log into PayPal.

- If you currently have a PayPal Extras MC you cannot apply for the Cashback MC, and Synchrony says that "currently" they cannot convert PayPal Extras to the Cashback MC.

Data Points:

TU FICO 08 score: (or Vantage score from Credit Karma or similar source if that's all you have available)

Approval/Denial:

Credit Limit Approved:

Derogs?: (BK/Collection/Etc)

Utilization:

Total TU Inquiries:

New Accounts in last 12 months:

Other Relevant Info:

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Yes please.....I have several Sync cards...the ToysRus MC at 1800--Wally store card at 6k...Lowes at 500....Meineke at 3k..Ashley and Value city at 4500...Amazon at 5k...

I do have a PAY PAL account in good standing..NOTHING TO DO with Comenity tho

[Anonymous]

Hey DaveInAZ

Nice post. Great data points! Thanks for sharing your research! I was wondering how the Commenity and Synchrony thing tied in together, in regards to what accounts you have wtht PayPal. So, you answered my questions. Thanks again!

[Goos]

This is kind of an old thread but , I got this email last night 11-12 to apply for this card . Which is odd because I have pay pal credit on the account already . So I decided I would take the hit for the hp and apply anyways . Low and behold 2000 approval and it’s attached to my paypal along with my pay pal credit . So I’m unsure what will happen but I can keep you posted . Just thought I would share since I thought one pay pal product per pay pal .

[Anonymous514]

How does the card feel? Flimsy like the Paypal Extras MC? Or a harder plastic like a normal cc? Ill apply if it feels normal. I cancelled my paypal extras MC because of the flimsy feeling.

[AverageJoesCredit]

Feels like a bag of sand

[DaveInAZ]

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@Goos wrote:
This is kind of an old thread but , I got this email last night 11-12 to apply for this card . Which is odd because I have pay pal credit on the account already . So I decided I would take the hit for the hp and apply anyways . Low and behold 2000 approval and it’s attached to my paypal along with my pay pal credit . So I’m unsure what will happen but I can keep you posted . Just thought I would share since I thought one pay pal product per pay pal .

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Yes, kind of an old thread, but thanks for the resuscitation.

PayPal, Comentity, and/or Synchrony changed things in September and now you can have both (Comenity) PayPal Credit and (Synchrony) PayPal 2% Cashback accounts. I closed PP Credit in June so I could app for the Cashback MC, approved in early July. When they started allowing both I call Comenity and they reinstated my PP Credit. Great having both, Cashback MC for 2% rewards on everyday spending, PP Credit for large purchases and 0% deferred interest.

For those asking about the Cashback MC the card is standard CC plastic, just the artwork looks chintzy to me. And the name & numbers aren't embossed, just printed on the back. Fine with me, for the few seconds I look at a card when using it, it can be as ugly as they want.

[Goos]

Zombie thread !!! Back from the dead ! It very helpful with your original post thanks ! Hopefully it will help other as they do research!

Ps I don’t know if I have ever disliked how my card felt lol ! But different strokes for different folks !

[Anonymous]

Hope nobody minds the thread resurrection, but I do have some data points to contribute now that I have my own 2% MC:

TU FICO 08 score: (or Vantage score from Credit Karma or similar source if that's all you have available): 665

Approval/Denial: Approval

Credit Limit Approved: $6,000 (upon card activation; $1,000 temporary)

Derogs?: (BK/Collection/Etc): 2014 Ch7 BK, discharged

Utilization: 5%

Total TU Inquiries: 9 counting this (4-5 over 1 year old)

New Accounts in last 12 months: 5, counting this card

Other Relevant Info: Was considering the Marvel MC due to 3% media rewards, but the average score needed was a bit too high and the 2% cash back on everything proved more attractive in the end. Also received pre-approval offers for the Ollo Mastercard but it just didn't look attractive. Type 2 account, 25.49% APR. I was surprised at the temp CL I got, I was expecting $250-$500.