[Targeted] PayPal Cashback Mastercard: 4% Cash Back ($200 Maximum)

The Offer

No direct link to offer, sent out via e-mail. Subject line is ‘Congratulations, <name>! You’ve been selected to apply for the PayPal Cashback Mastercard®’

  • PayPal is offering some existing customers 4% cash back on all purchases when they offer a PayPal Cashback Mastercard

The Fine Print

  • Must be approved by January 5th, 2019
  • Maximum of $200 cash back

Our Verdict

Basically spend $5,000 and get $200 and that includes the regular spend on the card as well. Not worth considering in my opinion.

Hat tip to reader JJ & Connor C
    William Charles
  • On October 14, 2019, 13:00

View Comments (14)

  • I totally disagree. This card is great at the 2% for everything. getting 4% is a greater reason to get it. The only card that may be better than this is CitiDouble Cash when they offer $100 for the first $500 spend. I have got the Citi email before but i wasnt ready for it then. I hope they send me another email. Having both cards would be great for me

  • I know that this isn't the most exciting card for everyday purchases as some cards have more percentage for things like gas/grocery/restaurants.

    I purposely got this card though for bill paying. Most cards I looked at would only give me 1% back for bills.

    I have 3 bills such as my Internet Bill that allows me to pay via credit card with no convenience fee.

    I like how for the first 3 months I will get back $5.80 for all 3 and still get $2.90 back after it goes back down to 2%.

    It sure beats just paying the 3 bills via bank EFT and getting nothing back. The only bummer is it waits until a statement is printed for the rewards so I have to pay the bills then pay the card with the bill money and then wait for the rewards weeks later.

  • Not worth considering? The PayPal Cashback Mastercard offers 2% cashback on all purchases, no annual fee, no caps on rewards earned, no minimum rewards balance to claim and, since it's a Mastercard, is accepted everywhere!! Top this off with 4% cashback on the first $5000 spent?!?! What other card offers this?? If you are a cashback rewards card chaser, this is cream of the crop.......you'd be stupid to pass it up without.

    • It's essentially the equivalent of a $100 sign up bonus when you spend $5k in the first 3 months after you discount 2% as a base cashback card.

      I'm pretty desperate these days for a new sign up bonus but not desperate enough to use a HP, spend $5k and earn $100.

    • Citi Double Cash card offering 1%when you buy + 1% when you pay.
      No annual fee. No limit.However, there is foreign transactions fee.
      Capital One is offering 1.5 %, no annual fee, no limit.
      Went to Europe and used this card all the time. No problems and nice cash back amount.
      Discover's 5% program us excellent too.
      So...there are plenty of excellent options.
      Got PayPal offer, but never gave it a second thought.

  • I got an offer by email stating that Earn a $30 statement credit when you spend $200 or more with your eBay Extras Mastercard®, now through October 31, 2019.*

  • Up to $100 bonus (you'd earn the other $100 with just the 2%)... Not much but better than nothing if you were looking at this card anyway I guess.

    • I was targeted for this offer but unless I'm missing something there's no other benefit to having to card.

      • I think it is a good option for a "2% everywhere" card. No annual fee. There are no foreign transaction fees (?). No minimum redemption amounts for the 2% back either.

      • No FTF, so basically 2% on any transaction world wide and MC and accepted everywhere. It's a solid no hassle card

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