“People will be surprised at the better cashback offers that are available. People who use PayPal frequently, such as those who run small businesses through eBay, might be tempted to sign up, he said.īut for anyone else, it may pay off to see what other cashback cards are out there, he said. Note: If no payment method is listed and you are not billed through an app store, then you may get disconnected when we try to bill your account. then you will need to check with your card issuer or PayPal. Keenan said the card seems to be aimed at PayPal users, considering it isn’t possible to sign up for one without having a PayPal account. How do I update my credit card or PayPal information. It also charges foreign transaction fees, although those may be eliminated in the future, a PayPal spokesman said. So it may not be good card for someone who won’t pay their balance off each month. The average credit card has an APR of about 16.69%, according to Bankrate, a personal finance website. PayPal’s card also has a high annual percentage rate, of 16.99%, 24.99% or 27.99% based on the consumer’s credit. In contrast, the Discover it Cashback Match card offers an introductory period of 14 months with 0% interest. PayPal’s Cashback Mastercard doesn’t offer any sign-up bonus and has no 0% introductory period, when consumers will avoid gathering interest on their purchases, he pointed out. There are a few places the PayPal card falls short, though, said Conor Keenan, the vice president of marketing at, a site where consumers can compare credit-card offers. Plus, Discover matches your total rewards earned in the first 12 months after opening. $150 for spending $500 within three months of account openingġ% on purchases and 1% when purchases are paid off (2% total)ġ% on all purchases, and 5% in rotating categories. The closest comparison to the new PayPal card is Citi’s Double Cash card, Honig said, which offers 1% on every purchase and then another 1% when consumers pay their balance, equaling 2%. It has no annual fee.įreedom Unlimited card also offers 1.5% cashback on all purchases, and like Capital One, offers a $150 bonus when new cardmembers spend $500 within three months of opening an account. It also offers a $150 bonus when cardholders spend $500 within three months of opening an account. Capital One’s QuickSilver card, for example, gives users 1.5% cashback. There are similar cards already on the market, although many offer less than 2% back. PayPal also has no cap on the amount of cashback that consumers can earn, unlike some cards. PayPal Illustrative Icons app credit card design finance flat icon designer icon set icons illustration. ![]() “Consumers are looking for simple, straightforward redemptions and that’s something this card delivers,” Honig said. Discover 3 Paypal Logo designs on Dribbble. Here's how to pick retail companies that will survive the meltdown
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