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PayPal Cashback Mastercard®: Earn 3% Cash Back on PayPal Purchases
PayPal is offering 3% cash back on PayPal purchases and 2% on all other purchases with their PayPal Cashback Mastercard®. No Annual fee.(1)
Card Details:
Purchases are subject to credit approval, and the PayPal Cashback Mastercard must be used for payment. See Rewards Program Terms for details and restrictions.
Important information on redeeming Cash Rewards: You need to have a PayPal Balance account to use your redeemed rewards in your balance. If you do not have that account, you can only transfer your Cash Rewards to your bank account or debit card linked to your account with PayPal.
The benefits and services as further described in the Mastercard Guide to Benefits are provided solely by Mastercard International Incorporated. PayPal and Synchrony Bank do not endorse, recommend, warrant or take responsibility for these offered benefits.
Card Details:
- Earn 3% cash back on PayPal purchases and 2% on all other purchases. Purchases are subject to credit approval, and the PayPal Cashback Mastercard must be used for payment. See Rewards Program Terms for details and restrictions.
- With the PayPal Cashback Mastercard®, earn unlimited cash back at millions of merchants.
- No restrictions. No rotating categories. No annual fee. See Terms and Rates for New Accounts.
- Shop at millions of brands with PayPal to earn unlimited 3% cash back.
- Earn rewards without the wait. Cash back is earned daily on completed purchases posted to your account. Important information on redeeming Cash Rewards: You need to have a PayPal Balance account to use your redeemed rewards in your balance. If you do not have that account, you can only transfer your Cash Rewards to your bank account or debit card linked to your account with PayPal.
- Redeem it to your PayPal balance, and spend it however you want.
- Enjoy peace of mind with Mastercard benefits from Tap & Go® to 24/7 Identity Theft Protection™. See Mastercard Guide to Benefits.
- The PayPal Cashback Mastercard is issued by Synchrony Bank pursuant to a license by Mastercard International Incorporated. Mastercard, Tap & Go and the circles design are registered trademarks of Mastercard International Incorporated.
Purchases are subject to credit approval, and the PayPal Cashback Mastercard must be used for payment. See Rewards Program Terms for details and restrictions.
Important information on redeeming Cash Rewards: You need to have a PayPal Balance account to use your redeemed rewards in your balance. If you do not have that account, you can only transfer your Cash Rewards to your bank account or debit card linked to your account with PayPal.
The benefits and services as further described in the Mastercard Guide to Benefits are provided solely by Mastercard International Incorporated. PayPal and Synchrony Bank do not endorse, recommend, warrant or take responsibility for these offered benefits.
Applications are subject to credit approval. You must be at least 18 years old and reside in the US or its territories to apply.Slickdeals may be compensated by PayPal
The PayPal Cashback Mastercard is issued by Synchrony Bank pursuant to a license by Mastercard International Incorporated.
Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
The Contactless Indicator mark, consisting of four graduating arcs, is a trademark owned by and used with permission of EMVCo, LLC.
Created 11-27-2023
at 09:51 AM
by EfficientGame645
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175 Comments
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thanks for doing the math for us. i will check my fee the next time and compare. but then. my bill is much smaller than yours though.
As a side note, someone else mentioned the 6% Amex card - you pay $95 up front to get 6% on up to $6000 instead of 3%. Just doing the math with that card, the max you can get is $360 instead of $180, but since you're paying $95 up front, it's really only $265 extra cashback, or about 4.4%, if you max it out perfectly - which makes it worse than the 5% category cards that you can get for free. It still works for some people, but not everyone.
If you wanted to be helpful instead of just snarky, you could mention that the minimum requirement to get 5.25% with a BofA card is having $20k parked getting virtually no interest (vs. say, 5%, or $1000/year parked elsewhere), or stored at an overpriced brokerage. Perhaps you've figured out a way to avoid those scenarios, and still get the 5.25% (that's where you could be especially helpful here), but it's at least worth mentioning when claiming you're getting 5.25% on all your purchases. I'd rather accept a slightly lower % on my purchases than lose annual interest on $20k. That's a hefty (hidden) annual fee.
Actually that's incorrect in order to get 5.25%, you need $100k within BofA. 20k only give you
1.25*3%. 3.75% not too bad either. Also you dont need to have the money sit in the checking account. You could open Merrill Edge brokerage account and invest the money. Yes ML kinda sucks but it's fine if you just buy index fund or some random low risk somewhat high yield thing and not actively manage.
For water bill, usually it's billed every 2 month...so end up to be ~$200. so convenience fee is not too bad. Also, my water rate has jumped so much, 40% for the same usage past 3 years...imagine what it will be in the near future.....
If you wanted to be helpful instead of just snarky, you could mention that the minimum requirement to get 5.25% with a BofA card is having $20k parked getting virtually no interest (vs. say, 5%, or $1000/year parked elsewhere), or stored at an overpriced brokerage. Perhaps you've figured out a way to avoid those scenarios, and still get the 5.25% (that's where you could be especially helpful here), but it's at least worth mentioning when claiming you're getting 5.25% on all your purchases. I'd rather accept a slightly lower % on my purchases than lose annual interest on $20k. That's a hefty (hidden) annual fee.
As a side note, someone else mentioned the 6% Amex card - you pay $95 up front to get 6% on up to $6000 instead of 3%. Just doing the math with that card, the max you can get is $360 instead of $180, but since you're paying $95 up front, it's really only $265 extra cashback, or about 4.4%, if you max it out perfectly - which makes it worse than the 5% category cards that you can get for free. It still works for some people, but not everyone.
Nice math.
I believe anything that uses clover/toast and those type of fancy POS cashier would take Gpay
thanks for doing the math for us. i will check my fee the next time and compare. but then. my bill is much smaller than yours though.
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Regardless, if that's typical for California, that Forbes thing is pretty far off, I guess. The recurring regular fees should be included. Maybe it also depends on city/county.
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thats alot of tax. no wonder they could build a house for homeless that is even better than my own house.