PAYPAL introduces new cash back credit card
PayPal is today launching a new credit card, the PayPal Cashback MasterCard – its first card to offer shoppers direct cash back on purchases, instead of points that vary by category. The card, introduced in partnership with Synchrony Financial, will offer 2 percent back on purchases, with no annual fee, no minimum redemption amount, no restrictions on how to spend cash rewards, and no expiration, the company says.
This is the second credit card PayPal has issued; it has offered another credit card through Synchrony since 2006. That card offers rewards, but they are not as straightforward as the new cashback benefits.
The card is only available to PayPal members, and it’s automatically added to users’ PayPal’s wallets, once approved. That means consumers can begin to use the card even before it arrives in the mail.
This is not the only credit card PayPal today offers, but it may become its most compelling in short order, especially given consumers’ preference for cash back cards.
The other cards include a PayPal Extras MasterCard for consumers that uses a more traditional 3-2-1 rewards points system, where you can earn more points for things like gas stations and restaurant purchases, as well as money spent on PayPal and eBay.
For those staying in countries outside the us you can check here if it is available it could be used in your country, and how it could be gotten.
0 comments