The PayPal Cashback Mastercard is a rewards card issued by Synchrony Bank that offers an unlimited 2% cash back rate for every purchase you make.
This rewards program has no redemption threshold, and you can redeem cash back rewards at any time for a statement credit, among other options. If you want to redeem cash rewards to your PayPal balance, you’ll need to either have a PayPal Cash or PayPal Cash Plus account.
This PayPal credit card has no annual fee or foreign transaction fees, and comes with a purchase APR of 22.24%, 26.24% or 29.24% Variable.
To apply for this card you’ll need a PayPal account in good standing. If you close your PayPal account or if your card becomes unlinked, your account will be closed and your cash rewards will be forfeited.
The only other fee-free rewards credit card that provides a flat-rate unlimited 2% cash back is the Citi® Double Cash Card – 18 month BT offer, which is a cash back credit card that comes with a balance transfer intro APR offer and some decent perks.