How to Apply to PayPal Cashback Mastercard Credit Card
PayPal Cashback Mastercard Credit Card offers hassle-free cash rewards, with 3% cashback on PayPal purchases and 2% on other transactions.
The PayPal Cashback Mastercard Credit Card, designed for everyday use, allows cardholders to earn cashback rewards on their purchases. This card integrates seamlessly with PayPal’s digital platform, enhancing the convenience of online and in-store transactions. It’s tailored for those who prefer a straightforward reward system without complex points or categories. With global acceptance, it ensures that users can utilize their card for a wide range of purchases, whether domestically or internationally. Additionally, the card provides the security and customer support expected from a major financial service, ensuring peace of mind for its users.
Benefits of the PayPal Cashback Mastercard Credit Card
The PayPal Cashback Mastercard offers a range of benefits that cater to the needs of diverse consumers, particularly those who frequently use PayPal for their transactions. Below is a detailed overview of its top six benefits:
Unlimited Cash Back on PayPal Purchases
The card provides an unlimited 3% cash back on purchases made through PayPal. This feature is particularly advantageous for users who often shop online using PayPal, allowing them to maximize their cash back rewards on a wide array of online transactions.
Cash Back on All Other Purchases
For purchases not made through PayPal, the card offers an unlimited 2% cash back. This rate applies to all other purchases wherever Mastercard is accepted, making it a competitive choice for everyday spending outside of PayPal transactions.
No Annual Fee
The card does not charge an annual fee, which can be a significant saving for cardholders. This makes it an appealing option for those who want to earn cash back rewards without worrying about an additional yearly cost.
Easy Redemption of Rewards
Cash back earned with the PayPal Cashback Mastercard is credited daily upon the completion of purchases and can be redeemed directly to the cardholder’s PayPal balance. This feature offers the flexibility to use the rewards as soon as they are earned, without any waiting period.
Integration with Digital Wallets
The card can be added to major digital wallets like Apple Pay, Google Pay™, and Samsung Pay, enhancing its usability for contactless payments and making it a convenient option for tech-savvy users.
Mastercard Benefits and Security
Cardholders can enjoy the security and benefits associated with Mastercard, such as zero liability for unauthorized charges, identity theft protection, and the Tap & Go feature. These benefits ensure a secure and convenient shopping experience.
About PayPal Financial Institution
PayPal, a global financial technology giant, has a rich history dating back to its founding in 1998. Initially known as Confinity, it focused on developing security software for handheld devices before transitioning to digital payments in 1999. In 2000, Confinity merged with X.com, forming PayPal. The name was adopted in 2001 and PayPal went public in 2002. eBay later acquired PayPal for $1.5 billion, further expanding its global reach. PayPal has been at the forefront of digital payment innovations, revolutionizing online transactions through email and pioneering mobile payments in 2006. Notable acquisitions include Braintree, Venmo, Xoom, and iZettle. These strategic moves have expanded PayPal’s capabilities and maintained its position as a leader in the financial technology sector. PayPal has also fostered innovation and entrepreneurship in Silicon Valley, with many of its former employees founding or leading major tech companies. Today, PayPal has over 400 million active user accounts and processes billions of dollars in payments annually.
Who is this Card for?
The PayPal Cashback Mastercard Credit Card is primarily aimed at individuals who frequently use PayPal for online transactions and are seeking a simple, effective way to earn cash back rewards. This card is particularly well-suited for tech-savvy consumers who prefer online shopping and value the convenience of digital payment systems. Its appeal is broad, encompassing both regular PayPal users and those who make a variety of purchases elsewhere, as the card offers cash back on all transactions, regardless of where they are made. Given its integration with PayPal and benefits like cash back on every purchase and no annual fee, this card is a strategic choice for those looking for an uncomplicated rewards system and who are comfortable managing their finances through digital platforms.
Prerequisites to Obtain the PayPal Cashback Mastercard Credit Card
To apply for the PayPal Cashback Mastercard Credit Card, applicants must meet certain requirements, as outlined on the PayPal website. Here are the key prerequisites:
- PayPal Account: Applicants need to have a PayPal account. If they do not have one, they must create one before or during the application process for the PayPal Cashback Mastercard.
- Personal Information: During the application, individuals are required to provide personal details. This includes confirming their name, address, and phone number. They must also provide their date of birth and the last four digits of their Social Security number.
- Financial Information: Applicants are asked to disclose their annual income after taxes. This information helps in evaluating their financial stability and ability to manage credit.
- Credit Approval: Like most credit cards, approval for the PayPal Cashback Mastercard is subject to a credit check (PayPal asserts that this will not have a negative effect if denied).
- Age and Residency: Applicants must be at least 18 years old. Additionally, they should reside in the United States or its territories, as the card is designed for U.S. residents.
- Acceptance of Terms and Conditions: Finally, applicants must agree to the Terms and Conditions of the PayPal Cashback Mastercard. This includes understanding the rates, fees, and rewards program associated with the card.
It’s important for potential applicants to carefully review these requirements and consider their own financial situation before applying. This ensures a responsible approach to credit card use and management.
CLICK HERE TO ACCESS THE OFFICIAL PAYPAL WEBSITE
Step by Step to Apply for the Card
To apply for the PayPal Cashback Mastercard Credit Card, follow these steps:
- Ensure you have a PayPal account. If not, sign up for one, as it’s required for the application.
- Visit the official application page: PayPal Cashback Mastercard Application.
- During the application, you will need to confirm your name, address, and phone number.
- Provide your date of birth, annual income after taxes, and the last 4 digits of your Social Security number.
- Agree to the Terms and Conditions of the card.
- Upon approval, your PayPal Cashback Mastercard will be linked to your PayPal account and appear as a payment option during checkout.
For those who prefer mobile applications, you can manage your account and apply through the PayPal app, available for both Android and iOS devices.
CLICK HERE TO ACCESS THE PAYPAL CASHBACK WEBSITE
Positives and Negatives of the Card
The PayPal Cashback Mastercard has several positives and negatives that are important to consider:
Positives:
No Annual Fee: The card does not charge an annual fee, making it a cost-effective option for many users.
High Rewards Rate: Cardholders can earn an unlimited 3% cash back on PayPal purchases and 2% on all other purchases, which is a competitive rate among cash-back cards.
Simple Cash Back Redemption: Cash back is earned daily and can be easily redeemed to the cardholder’s PayPal balance.
Mastercard Benefits: Cardholders enjoy added security and convenience with features like Tap & Go and 24/7 Identity Theft Protection.
Negatives:
High Interest Rate: The card’s APR ranges from 20.24% to 32.24%, depending on creditworthiness, which can be high, especially for those who tend to carry a balance
No Introductory APR Offer: There is no 0% introductory APR for purchases or balance transfers, which might be a drawback for those looking to make a large purchase or transfer balances.
Foreign Transaction Fee: The card charges a foreign transaction fee of 3% of each transaction, making it less ideal for international use.
Requirement to be a PayPal Member: To apply and use the card effectively, one must be a PayPal member, which could be a limitation for those who do not use or wish to use PayPal.
Limited Redemption Options: Rewards can only be transferred to a linked bank account or debit card if you don’t have a PayPal Balance account.
How to Activate the Card?
There are two ways to activate your PayPal Cashback Mastercard:
1. Online activation:
- Log in to your PayPal account: Visit website official and log in to your account.
- Navigate to your card summary page: Look for the “Wallet” section and click on “Cards.” Find your PayPal Cashback Mastercard and click on it to open its summary page.
- Click “Activate Card”: You’ll see a button labeled “Activate Card.” Click on it.
- Enter your card’s expiry date: Verify the expiration date printed on your card and enter it correctly in the provided field.
- Confirm activation: Click “Activate Card” again to confirm and complete the activation process.
2. Phone activation:
- Call the activation line: Dial 1-800-314-8298. This is a 24-hour automated line for activating Synchrony Bank cards, which issues the PayPal Cashback Mastercard.
- Follow the instructions: The automated system will guide you through the activation process. You’ll need to provide your card number, expiration date, and some personal information for verification.
- Confirm activation: Once you’ve entered all the required information, the system will confirm your card’s activation.
Fees and Tariffs
Here’s a breakdown of the main fees and tariffs associated with the PayPal Cashback Mastercard:
- Annual fee: There’s no annual fee.
- Purchase APR: Varies based on your creditworthiness and ranges from 19.99% to 31.99%.
- Cash advance APR: Higher than the purchase APR and currently at 32.24%.
- Foreign transaction fee: 3% of the transaction amount for all international purchases.
- Cash advance fee: $10 or 5% of the amount, whichever is greater.
- Late payment fee: Up to $40.
- Returned payment fee: $30.
Customer Service
For assistance with the PayPal Cashback Mastercard, here are the official channels provided by PayPal:
Customer Service Phone Number:
For general inquiries or assistance, call (855) 520-0991.
You can also call the number on the back of your card for specific card-related queries.
Official Website:
For more information, visit the PayPal Cashback Mastercard page.
PayPal Help Center:
For FAQs and other assistance, visit PayPal’s PayPal Cashback Mastercard.
PayPal Community Forum:
Engage with other users and find answers to common questions in the PayPal Community Forum.
PayPal App:
Manage your account and get support through the PayPal app, available on Google Play for Android and on the App Store for iOS devices.
About the author
As a journalist passionate about digital content, I create strategic texts for various niches. I believe in the power of clear and accessible information, and my goal is to simplify complex topics while promoting free access to knowledge that can improve people’s everyday lives.
