Credit Card Offers More Cash Back for PayPal Users

PayPal users can earn more rewards with the new PayPal Cashback Mastercard credit card, which offers 3% in cash back on purchases made through PayPal digitally or in stores that accept PayPal QR codes.

The company introduced the card, which is a Mastercard issued by Synchrony, in an April 5 news release. New customers can apply for the card beginning next week, and eligible existing cardholders with a PayPal Cashback Mastercard will start earning at the 3% rate automatically this week, according to PayPal.

The biggest change is the increase to 3% in cash back on purchases made with PayPal digitally or in stores that accept PayPal QR codes – existing cardholders earned 2% before the update. (Customers need to be sure they have selected the card as their payment method for PayPal transactions.) All other purchases earn 2% cash back.

New cardholders can also earn a $100 cash back bonus after they spend $500 on the card, though this offer will only be available for a limited time. Cardholders won’t have to wait for their monthly statements to get their rewards, and they can manage their cards online and in the PayPal app.

If you regularly use PayPal, the PayPal Cashback credit card provides a solid opportunity to earn rewards. The card does not charge an annual fee, and it offers strong cash back rates.

Although cash back credit cards may offer 3% or more back in certain categories, you can earn 3% back with this card regardless of what you buy, so long as the vendor accepts PayPal – and PayPal is one of the most widely accepted digital payment methods available.