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PayPal Cashback Mastercard® review

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.
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Up to 2%

Cash back


Annual fee

19.99%, 23.99% or 26.99%

Purchase APR (variable)


Recommended credit score


Annual fee$0
Welcome offerN/A
Rewards2% cash back on all purchases
Purchase APR19.99%, 23.99% or 26.99% variable
Balance transfer APRN/A
Minimum Credit Score740

Review by

Kliment Dukovski is a credit cards and investments writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

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.

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.

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 19.99%, 23.99% or 26.99% 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
Blue Cash Everyday® Card from American Express
3% at US supermarkets on up to $6,000 per year (then 1%), 2% at US gas stations and select US department stores and 1% on other purchases (redeem as statement credit)
0% intro for the first 15 months (then 13.99% to 23.99% variable)
Earn a $200 statement credit after spending $2,000 in the first 6 months. This is a higher-than-average welcome offer for a card with no annual fee. Terms apply, see rates & fees
BlockFi Bitcoin Rewards Credit Card
3.5% back in Bitcoin in the first 90 days, up to a total of $100 in Bitcoin, then 1.5% on all purchases
14.99% to 24.99% variable
Earn 3.5% back in Bitcoin in the first 90 days, up to a total of $100 in Bitcoin. After that you'll earn a solid 1.5% back on all purchases.
Capital One QuicksilverOne Cash Rewards Credit Card
1.5% cash back on all purchases
26.99% variable
Get unlimited 1.5% cash back on every purchase with no limit on how much you can earn, and no changing categories.

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.

PayPal Cashback Mastercard® reviews and complaints

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 not accredited by the Better Business Bureau (BBB) since 2006 and earns an A+ rating as of August 2021. 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.

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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