PayPal is offering a 3% cashback to users of its credit card. For those that don't know, just like Apple Card, the PayPal Cashback Mastercard does not charge any annual fees to its users.
PayPal Reveals Company's New Upgraded Credit Card
According to the story by Engadget, PayPal has just recently revealed the company's upgraded credit card. The newly upgraded credit card will be giving its users more cashback but with a twist.
As per the publication, the cashback depends on how the users make their purchases. Just like before, users are entitled to receive a 2% cashback on everything they choose to buy as long as a Mastercard is accepted.
PayPal Credit Card Users Entitled to an Unlimited 3% Cashback
However, upon checking the official PayPal website, users are entitled to an unlimited 3% cashback. This includes purchases done online, through mobile, or in-store purchases through the PayPal QR Code.
The PayPal Cashback Mastercard reportedly charges no annual fee, and users will be entitled to get cashback daily. The daily cashback makes the PayPal credit card different, unlike the others, wherein users still have to wait until they receive a monthly statement.
New User Interface Promises Easier Way to Make Payments and Access Earned Rewards
PayPal announced that they decided to redesign the user interface of the card on both the app and the web version. The new user interface (UI) promises to provide users with a much easier method to make payments or access their earned rewards simply.
Existing users will be able to gain access to the newly upgraded card automatically. On the other hand, Newcomers will be given a $100 bonus once they spend their first $500 using the PayPal credit card.
PayPal Cashback Mastercard to be Available Soon
The brand new PayPal Cashback Mastercard, as per Engadget, will be available soon enough. The publication, however, urges users to first check out the fine print before deciding to apply to PayPal's new credit card.
As per NerdWallet says, starting Apr. 5, users can earn 3% cashback.
Engadget notes that PayPal offering more cashback could potentially help them compete with other companies. By offering available higher cashback, users will be able to redeem the cashback rewards instead of having to wait.
Cashback Received When Integrating with Apple
Just like the Apple Card, the PayPal credit card demands no annual fee. To add, PayPal offers cashback rewards integrated with Apple.
Users will be able to claim a 3% cashback when they shop at the Apple Store while entitled to a 2% when choosing to use Apple Pay. As per Engadget, users will still be able to claim a 1% purchase on "other purchases" with no specification as to the clause of these particular purchases.
For those interested in the PayPal credit card, the company released a waitlist and will update the public regarding the card's availability.
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Written by Urian B.
