New Changes Coming to PayPal Cashback Mastercard, 3% on PayPal purchases & 2% on everything else

[ZAWARUDO]

More details coming soon. If you are an existing 2% Cashback Mastercard holder, you do not need to join the list. You will automatically receive this exciting new upgrade.

Update: With the new card, customers earn unlimited 3% cash back when paying with PayPal at checkout – online, mobile, or in-store with PayPal QR Code where eligible – and unlimited 2% cash back on all other purchases anywhere Mastercard is accepted. 

Rather than waiting for the statement to close, cashback is earned daily on completed purchases posted to account.

Update #2: New benefits start today, April 7, 2022. 

1 Although Eligible Purchases made by you through your PayPal account prior to April 6, 2022 will earn 2% Cash Rewards, if you return any of those Eligible Purchases or they otherwise require an adjustment on or after April 6, 2022, your Cash Rewards will automatically be reduced in an amount equal to 3% of the Eligible Purchase amount. On a monthly basis, Synchrony will adjust your Cash Rewards balance for the 1% difference for any such returns or adjustments made in the next 6 months on or before 10/6/2022. Receiving this benefit requires that your account be open as of 04/05/2022.

2 Purchases subject to credit approval. See your Rewards Program Terms for details and restrictions.

3 You are liable for all transactions made on your credit card account by any authorized users. If the Authorized User has an account with PayPal, the Authorized User will not be able to add the card to their account with PayPal.

[coldfusion]

I'm left with the feeling that "new and improved" will translate into "bigger profits for Synchrony" and not "more and better benefits for cardholders".

[longtimelurker]

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@coldfusion wrote:

I'm left with the feeling that "new and improved" will translate into "bigger profits for Synchrony" and not "more and better benefits for cardholders".

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Don't be so negative.   I for one am delighted at the recent change that gave us the opportunity to pay foreign transaction fees, makes it seem much more like a vacation.

[CYBERSAM]

Any DP for Paypal credit being upgraded to MC version?

[Credit12Fico]

Hoping for a 3% on paypal purchases category. 

[AverageJoesCredit]

I hope they grandfather us into 3.5% cb lol. 🙏 

[MickeyGMoney]

You were right!

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@Credit12Fico wrote:

Hoping for a 3% on paypal purchases category. 

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[MickeyGMoney]

So I guess the way to benefit the most from this is to use Google Pay and connect Paypal with the Cashback Mastercard as the default payment method. I have an iPhone, but I still think I'd be able to use this method to pay for things in person. Online is easier since most places accept Paypal.

Too bad they're taking away Paypal Key which would've made using the Cashback Mastercard through Paypal easier.

I guess places are getting the Paypal QR code as well.

[Anonymalous]

Wow. Unless they slip in something like an annual fee, that might be the next flavor of the month.

[MrDisco99]

Not bad.  I may add this to my want list again.  Not quite as useful as it was when they had no FTF though.  I don't use PayPal all that often, and even less for domestic purchases, but 3% is still better than 2%.