Yes. The PayPal Extras Mastercard® is a points card that allows you to redeem rewards for cash back, travel vouchers, gift cards and merchandise.
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Our take: High rewards rates and a $0 annual fee make the PayPal Cashback Mastercard® a must-have for frequent PayPal users. But if you don’t regularly make purchases on PayPal, we recommend looking at cards with more flexible redemption options.
If you use PayPal regularly and want to earn cash back on your purchases, the PayPal Cashback Mastercard® is worth considering. You’ll earn 3% cash back on PayPal purchases and 1.5% on all other purchases, and you can redeem your rewards directly to your PayPal Balance account at any time.
But if you rarely use PayPal, there are several rewards cards that offer higher earning rates in categories that might better fit your spending habits. Further, if you need to carry a balance, we recommend finding a card with lower ongoing interest rates.
Intro Purchase APR
N/A
Regular Purchase APR
19.74% for Account Type 1 or 31.49% for Account Type 2 or 34.49% for Account Type 3
Intro BT APR
N/A
Regular BT APR
N/A
Annual Fee
$0
Cash Advance Fee
Either $10.00 or 5% of the amount of each cash advance, whichever is greater
Foreign Transaction Fee
3%
Balance Transfer Fee
N/A
Generous rewards rate on all purchases
With the PayPal Cashback Mastercard®, you’ll earn 3% cash back on PayPal purchases and 1.5% on all other purchases. The rewards rate on general purchases is competitive, since even the most popular cash back cards typically offer a maximum of 2% cash back on all purchases.
Plus, earning rewards is simple. You won’t have the hassle of keeping track of rotating bonus categories or spending caps. You’ll also earn these rewards automatically, and there’s no limit to how much you can earn.
Wide acceptance
Along with using the PayPal Cashback Mastercard® to make purchases on PayPal, you can use your card everywhere Mastercard is accepted – both in stores and online. Since Mastercard has one of the highest acceptance rates in the U.S. and worldwide, you’ll be able to use your PayPal Cashback Mastercard® practically everywhere you shop.
$0 annual fee
The PayPal Cashback Mastercard® charges an annual fee of $0. While there are many credit cards without an annual fee, only a few can match the PayPal Cashback Mastercard®’s rewards rate on all purchases.
Limited redemption options
Typically, cash back credit cards let cardholders redeem rewards for cash, statement credits or deposits to an eligible bank account. But with the PayPal Cashback Mastercard®, you can only redeem rewards as a deposit into your PayPal Balance account. Rewards can then be used to make purchases and payments, send money to other PayPal users or as a transfer to the bank account or debit card that’s linked to your PayPal account.
Note that if you don’t have a PayPal Balance account, you can only transfer your rewards to the bank account or debit card that’s linked to your PayPal account. A PayPal Balance account is linked to your PayPal personal account and allows you to make purchases, hold a balance and transfer money. (Learn more about PayPal Balance accounts on the PayPal site.)
High interest rate
The PayPal Cashback Mastercard® comes with an APR of 19.74% for Account Type 1 or 31.49% for Account Type 2 or 34.49% for Account Type 3. The type of account you receive depends on your credit worthiness and other factors, so if you can’t qualify for Account Type 1, you’ll be subject to a high APR.
If you tend to carry a balance from month to month, opt for a card with a 0% intro APR or a lower ongoing interest rate to avoid racking up high-interest credit card debt.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | Recommended Credit Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion | |
|---|---|---|---|---|---|---|
|
PayPal Cashback Mastercard®*
|
N/A | 3% cash back on PayPal purchases and 1.5% on all other purchases | $0 | Good / Excellent | ||
Citi Double Cash® Card*
|
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. | Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. | $0 | Fair / Good / Excellent | ||
Discover it® Cash Back*
|
Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. | 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically | $0 | Good / Excellent | ||
Chase Freedom Unlimited®*
|
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. | Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases | $0 | Good / Excellent |
If you want to earn cash back on every purchase but need more flexible redemption options, we recommend the Citi Double Cash® Card over the PayPal Cashback Mastercard®.
The rewards rate on general purchases is similar: The Citi Double Cash® Card lets you earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. But compared to the PayPal Cashback Mastercard®, the Citi Double Cash® Card offers more ways to redeem your cash back rewards. Its redemption options include checks, statement credits, direct deposits, gift cards, travel and merchandise at Amazon.com.
If you want more generous cash back rates and are willing to put in a little legwork to get them, consider the Discover it® Cash Back. You’ll earn 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically.
With the Discover it® Cash Back, you’ll have to track and activate bonus categories each quarter in order to earn the higher rewards rate. While earning your rewards is a bit more complex, redeeming them is simple – you can deposit them directly into your bank account or apply them as a statement credit. You can also redeem points for gift cards or charitable donations.
If you want a card that offers generous rewards rates on general purchases and bonus categories like travel and dining, you should look at the Chase Freedom Unlimited®.
enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
You won’t find a better rewards rate on PayPal purchases than with the PayPal Cashback Mastercard®. It’s an excellent choice if you’re a PayPal loyalist who wants a cash back credit card with a $0 annual fee.
But if you don’t frequently use PayPal, we recommend taking a look at some other rewards cards that may be better suited.
Yes. The PayPal Extras Mastercard® is a points card that allows you to redeem rewards for cash back, travel vouchers, gift cards and merchandise.
No, the PayPal Cashback Mastercard® doesn’t offer a sign-up bonus.
To apply for the PayPal Cashback Mastercard®, you’ll first need to set up a PayPal account. In most cases, once you’re approved and activate your card, you’ll be able to access a temporary line of credit on your PayPal account immediately. Your physical card will arrive in the mail within seven to 10 business days.
While it doesn’t offer a formal preapproval process, the PayPal Cashback Mastercard® is unique, in that your credit score won’t go down if your application is declined. That said, if you are approved for the card, PayPal will do a hard credit pull — as such, your credit score may take a temporary hit as a result.
Applying for a PayPal Cashback Mastercard® will trigger a hard credit pull, but only if you’re approved. If your application is declined, your credit score won’t be impacted.
The information related to the PayPal Cashback Mastercard®, Citi Double Cash® Card, Discover it® Cash Back, Chase Freedom Unlimited® and PayPal Extras Mastercard® has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.