Tuesday, 18 January 2022

PayPal CashBack MasterCard Review

PayPal CashBack MasterCard Review
31 Jul

Hey, I'm Adam Jusko from ProudMoneycom and in this video I am talking about the PayPal Cashback MasterCard

Before I go further on that, please subscribe here on YouTube so you can catch the best of our other credit card videos and other finance stuff that we talk about as well So the Paypal Cashback MasterCard is sort of a credit card that flies under the radar There aren't a lot of people that are really talking about it when it's actually one of the best credit cards on the market You get two percent cash back on all your purchases, that's flat across everything, you don't have to worry about any categories or anything like that everything that you buy It's a MasterCard so obviously it is accepted wherever MasterCard is accepted Now the money that you earn the cash back actually is going to go straight into your PayPal account, so you can either use it through your PayPal account or you could have that money transferred to your bank account via PayPal but the money's not going to come straight back to you, it's gonna go into your PayPal account Obviously from PayPal's perspective they want you to use your PayPal account, so it makes sense that your cash back is gonna go into there To me that doesn't really seem like a big deal a lot of people have PayPal accounts already and the fact that you can easily transfer your money out of your PayPal account means there may be an extra step there but it's not really all that big of a deal So pretty smart on PayPal's side — they can get maybe more people involved with getting an account because you have to have the PayPal account obviously in order to get the card, or they can get people to use their PayPal accounts more often So, like I said, that 2% is really kind of the top of the market in terms of a flat cash back card Now if you're juggling multiple cards that maybe have higher cash back rates in certain categories perhaps you could do better, but it will take an awful lot of work to sort of beat this 2% flat rate

that's really kind of the highest threshold for cards on the market today The Citi Double Cash card is another card that is similar — it has 2% cash back as well but otherwise there aren't too many other cards out there Really there is 1

5 percent, maybe a little bit above, so this is sort of surprising in a way that this PayPal card is one of the top cards on the market It sort of came out of nowhere in late 2017 And I want to make a point here, because I have noticed recently from time to time that this card is actually very hard to find online sometimes you'll do a search for it in one of the search engines and it will just simply not be there, and I'm not really quite sure why But we have put a link to our Top 10 Credit Cards page underneath this video, so if you go to that page and you click on the PayPal Cashback MasterCard link there, you should be able to get to the application and the whole page about the card even if you can't find it in Google or Bing or whatever search engine that you might use So what else? This is a card that potentially could be an instant approval card, so you could sign up and be able to use it right away If you can, they're going to put the card essentially into your PayPal account immediately and you can start using it via your PayPal account and then you would get the card in the mail If your credit is not quite as great, you might have to wait, but instant approval is a possibility

In terms of interest rate, you are looking at an interest rate range depending on what your credit history is — if you have good credit history, you might be a little bit over 17% but the interest rate goes all the way up to 28%+, so if your credit history isn't as good, this could be a card where you're getting kind of a high interest rate so you need to be careful watch what that interest rate is and don't be carrying balances that you're not paying Finally, this is a card that is issued by Synchrony Bank

You might be familiar with Synchrony Bank if you have retail store cards They are sort of the partner bank behind many retail cards At one point they were part of GE and then spun off but they are a name you will come across often They don't issue their own cards under the Synchrony Bank name, but they back up a lot of other cards including the PayPal Cashback MasterCard So that is it — two percent across the board with the PayPal Cashback MasterCard

goes into your PayPal account it's one of our Top Ten Credit Cards here at Proud Money So I hope you'll go over to ProudMoneycom and check out what those other cards are and see how it stacks up And you'll find other good "best of" lists of other financial products and other cool articles as well Thanks for watching

Take care

Source: Youtube

Does a Debt Consolidation Loan Hurt Your Credit banner
Amazon Prime Rewards Visa Signature Card

Amazon Prime Rewards Visa Signature Card

« »

Related Articles