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PayPal Cashback Mastercard® review

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A no-annual-fee credit card that earns you 2% back on everything you buy.

  • Get this card to earn flat cash back on all of your purchases.
  • Pick something else if you want an intro APR period.
  • Apply with an excellent credit score of 740 or higher.

Up to 2%

Cash back


Annual fee

21.99%, 25.99% or 28.99%

Purchase APR (variable)


Recommended credit score


Product NamePayPal Cashback Mastercard®
Card typeMastercard
Annual fee$0
Purchase APR21.99%, 25.99% or 28.99% variable
Balance transfer APRN/A
Cash advance rate28.99% variable
Cash advance fee$5 or 3% of the cash advance amount, whichever is greater
Foreign transaction feeNone
Interest free periodUp to 23 days
Late payment feeUp to $38
Rates & feesrates & fees

The basics

The PayPal Cashback Mastercard® is a simple card that offers one of the highest flat cashback rates on your purchases. Its redemption options aren’t as expansive as you’ll find with other providers, but it’s a solid option — even if you don’t often use PayPal for purchases and payments.

Another unlimited cashback card

Capital One® Quicksilver® Cash Rewards Credit Card

  • Earn $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn 1.5% cash back on all purchases
  • 0% intro APR on purchases and balance transfers for 15 months; 15.74%-25.74% variable APR after that. Pay just 3% fee on balances transferred within the first 15 months
  • No annual fee
  • No foreign transaction fees
Read less
Read more

The perks

  • Cash back.

    Earn 2% back on everything you buy, including PayPal purchases. Compare that to the average 1.5% cash back you’ll find with similar cards.

  • No annual fee.

    You won’t pay an annual fee to own the card, making it a good card for the long term.

  • Easy rewards redemption.

    Redeem your cashback rewards anytime by adding them to your PayPal balance, which you can then use the same as you would any other funds.

How much cash back can I earn with the PayPal Cashback Mastercard®?

A flat cashback rate makes it easy for you to calculate rewards. As an illustration, if you spend $1,000 on purchases, you could earn $20 cash back. That’s up to $480 annually if you spend $2,000 a month with your card.

You’ll also like …

  • Extended warranties.

    Double the original manufacturer’s warranty for up to one year on eligible items bought with your card.

  • Price protection.

    If the price drops on an eligible item you’ve purchased within 60 days of buying it, you may be reimbursed for the difference.

  • Identity theft services.

    Get help with preventing and resolving potential identity theft with alerts, credit card replacement and no-cost affidavit assistance.

  • No foreign transaction fees.

    When you use your card outside of the US, you won’t pay an additional fee per transaction.

What to watch out for

  • PayPal account required.

    To apply for the card, you must have an active PayPal account that’s in good standing.

  • Potentially high APR.

    Based on your creditworthiness, you could see a purchase APR of 21.99%, 25.99% or 28.99% variable. This is high, considering the average APR on other cards is 16%. Avoid unnecessary interest by paying off your balance in full and on time.

  • You can have only one PayPal credit card.

    If you have this card, you aren’t eligible for the PayPal Extras Mastercard®, which offers accelerated rewards in more categories.

  • No intro APR period.

    The card doesn’t come with an intro APR period on purchases.

Which credit bureau does PayPal pull from?

The PayPal Cashback Mastercard® is offered by Synchrony Bank, which typically pulls your credit from TransUnion.

What credit cards does PayPal accept?

Compare cashback credit cards

Name Product Filter values Rewards Purchase APR Annual fee
1.5% cash back on all purchases
0% intro for the first 15 months (then 15.74%, 21.74% or 25.74% variable)
Earn unlimited 1.5% cash back on every purchase, every day.
3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
0% intro for the first 15 months (then 15.74%, 21.74% or 25.74% variable)
Earn $150 after spending $500 in the first 3 months.
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases
0% intro for the first 12 months (then 14.74% to 25.74% variable)
Earn $250 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & fees
CardMatch™ from creditcards.com
CardMatch™ from creditcards.com
See terms
See issuer's website
See terms
Can't decide on a card? Get personalized credit card offers with CardMatch™.
5% on up to $2,000 each activated quarter on two categories combined (1% after), 2% on one everyday category and 1% on all other purchases
15.74% to 25.24% variable
When you spend $500 on your card within the first 90 days, you’ll receive a $150 cash back bonus. Rates & Fees

Compare up to 4 providers

What should I know before I apply?

You must be a US citizen and at least 18 years old to apply for the card.

In addition, you’ll provide personal and financial info that includes your:

  • Full name and contact details.
  • Social Security number and date of birth.
  • Annual income and housing information.

When applying, you can sign up for the optional card security program. This program allows you to cancel your account balance of up to $10,000 in cases of unemployment, disability, hospitalization, loss of life, a leave of absence or a nursing home stay.

What credit score do I need?

For a higher credit line and to increase your chances of approval, apply with an excellent credit score of 740 or higher.

What do customers say about the PayPal Cashback Mastercard®?

Overall, customers say they’re happy with their credit line and the cash back they earn with the card.

The card’s issuer, Synchrony Bank, is accredited by the Better Business Bureau (BBB) since 2006 and earns an A+ rating. Most of its complaints involve poor customer service from the bank in general and hidden fees. A few customers claim the bank closed their accounts without a reason.

Despite many complaints, at the time of writing Synchrony Bank has answered or resolved all customer complaints posted to BBB.

How to apply for the PayPal Cashback Mastercard®

  1. Log in to your PayPal account and look for the PayPal Cashback Mastercard®. Click Apply now.
  2. Complete the application form with your personal and financial details.
  3. Review and submit your application.

How long will it take to get my PayPal Cashback Mastercard®?

In most cases, see a decision online in less than a minute.

If approved, expect your card to arrive within 10 business days. Unless your application is in pending status, you can use your card on PayPal to spend up to a temporary credit limit before your card arrives. After you receive the card, you get access to your full credit line.

I got the card. Now what?

  • Download the PayPal app. Use it to send money to friends, family or anyone else for free or to buy items online.
  • Avoid interest. Pay your balance before its due to avoid late fees and a high interest rate.
  • Customer service. Call PayPal customer support at 866-657-5788.

How do I redeem rewards from PayPal Cashback Mastercard®?

You get your cash back in the billing period after you’ve earned rewards. But you’ll need to transfer the money from your rewards page to your PayPal balance:

  • Log in to your PayPal Account.
  • Select PayPal Mastercard.
  • Go to Rewards and Offers, and then Rewards.
  • Enter the amount you’d like to redeem.
  • Select Redeem to transfer that amount to your PayPal balance.

After you transfer your cash back to your PayPal balance, you can use the money as you would any other funds.

Bottom line

The PayPal Cashback Mastercard® can be a great card if you’re looking to earn simple unlimited cash back on everything you buy without an annual fee. This card is especially interesting as one of the few PayPal-centric rewards cards. But if you’re known to carry a balance, a card with a lower APR might save you unnecessary interest.

Compare other cashback credit cards to find the best you’re eligible for to meet your financial needs and goals.

Frequently asked questions

Images: PayPal

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