PayPal Cashback Mastercard

The PayPal Cashback Mastercard® is a great no-annual-fee rewards credit card for everyone. This card offers unlimited 2 percent cashback on all purchases and 3 percent cashback when you shop with PayPal.


  • Offers unlimited 2 percent cash back on all purchases with the ability to earn 3 percent cash back if you shop with PayPal online or in-store. No rotating categories.
  • Charges no annual fee, which makes it easier to pair up with another rewards card.


  • No signup bonus or intro APR offer limits the card’s short-term value compared to other cashback cards.
  • Charges Foreign Transaction Fees for 3% of each transaction.

How It’s Compared

PayPal Cashback Mastercard® vs. Citi® Double Cash Card

The most direct competitor to PayPal Cashback Mastercard® also the original 2% cashback card is the Citi® Double Cash Card, which earns 2% cash back on all purchases – 1% when purchases are made and another 1% when paid off.

Although the two may seem nearly identical, the devil lies in the details. For Double Cash Card,  to redeem the cashback you’ve earned for either a statement credit, cash into your bank account or check in the mail you must have accrued at least $25 in total cashback.

On the flipside, the rewards of the Double Cash card come as ThankYou points, which can be taken as cashback, used to book travel transferred to Citi’s airline transfer partners. Those points can thus potentially redeem for more value.

PayPal Cashback Mastercard® vs. Wells Fargo Active Cash® Card

The Wells Fargo Active Cash Card doesn’t have the advantage of an additional rewards category for specific purchases, but it still offers the flat 2% base rate of the PayPal card.

A few advantages the Active Cash Card has over the PayPal card are a few extra perks including welcome bonus and introductory APR. Cardholders can earn a $200 cash rewards bonus after spending $1,000 in purchases with the card in the first three months of account opening.

Bottom Line

The PayPal Cashback Mastercard® offers one of the strongest cashback rates available for a credit card with no annual fee. It earns 3% cash back on PayPal purchases and 2% on all other purchases, with no category restrictions or annual earnings cap. It’s a simple and straightforward solution to anyone seeking no-fuss cashback rewards on their spending.

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