Merchandise options range from housewares to electronics Options include stores like Target and Walmart, as well as sites like eBay Here are the card’s other redemption options and a selection of redemption caveats: Redemption method These pre-set redemption tiers make the PayPal Extras Mastercard much more restrictive than the best cash back credit cards, many of which allow you to redeem cash back in any amount, at any time, usually as a statement credit, check or direct deposit, as well as for merchandise, online shopping, gift cards and travel. Otherwise, you can only transfer cash rewards to a bank account or debit card linked to PayPal.
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Tip: You must have a PayPal Cash or PayPal Cash Plus account in order to redeem your cash back to a PayPal balance. Assuming an average ongoing rewards rate of 1.58 points per dollar, the average person would have to spend about $3,800 to rack up the 6,000-point minimum required for a cash back redemption. You can choose between cash back, merchandise, gift cards and non-refundable travel vouchers.įor example, the PayPal Extras Mastercard only lets you redeem your Rewards Points as cash back once you’ve accumulated 6,000 points. Not only does the card only let you redeem your rewards after you’ve reached specific redemption tiers, but it also offers limited payout options. If you’re looking for flexible rewards redemption, the PayPal Extras Mastercard will be an enormous disappointment. You must reach pre-set redemption tiers before you can redeem your rewards, and when you do, you won’t get much bang for your buck. That said, once you get a better sense of its cumbersome redemption scheme and paltry redemption values, the card’s rewards rate starts to look much less impressive. On a pure points basis, the card’s rewards rate on gas and dining is a pleasant surprise, rivaling the rate offered by higher-end rewards credit cards.
The PayPal Extras Mastercard offers a relatively high rewards rate of 3 points per dollar on gas and restaurant purchases, as well as 2 points per dollar on PayPal and eBay purchases and 1 point per dollar on all other purchases. Solid rewards rate at gas stations and restaurants Rewards-savvy cardholders with a solid credit score can almost certainly do better with alternatives like the PayPal Cashback Mastercard or other cash back cards. But unlike the Cashback Mastercard, which carries a flat 2% cash back rate on all purchases, the PayPal Extras Mastercard earns points in tiered bonus categories, offering an outsized rewards rate on dining and gas, as well as PayPal and eBay purchases.īoth cards are designed to appeal to PayPal loyalists, but the PayPal Extras Mastercard will fall far short for most users, thanks in large part to its overly restrictive rewards redemption scheme and low point-to-dollar rewards value. Get personalized offers from our partners in seconds.Īlong with the PayPal Cashback Mastercard, the PayPal Extras Mastercard is one of two rewards credit cards offered by PayPal and issued by Synchrony Bank. Find card offers for you: This card is not currently available on , but you can still find a great card offer for you! Our CardMatch tool can help match you with prequalified offers and cards that align with your credit history – with no harm to your credit score.
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