If you use PayPal for online payments or to send and receive money, you’ve probably heard of PayPal cards. The PayPal MasterCard, for example, is a credit card, however, the PayPal reward card is a credit card that rewards you with points for every dollar spent. So, how does a PayPal card function, How can I get a PayPal card, and which one of the various options should you choose?
It’s important to comprehend PayPal cards’ unique features and advantages before diving in. Examining the capabilities of each PayPal card will assist you in making an informed choice that suits your spending needs and tastes, whether you’re searching for a simple credit option or want to maximize your benefits through points. This article will guide you through the explanation of how to use each PayPal card and address typical PayPal card questions, such as how the PayPal debit card operates.
PayPal Credit Cards
PayPal Credit
If you wonder, Who sells PayPal cards? Then keep in mind that the PayPal also offers PayPal Credit, a credit line available to its users. The PayPal credit line is also a payment method offered by numerous stores that accept PayPal. PayPal Credit gives its users six months to complete payments on purchases of $99 or higher. If you miss a payment, be prepared to part with a $40 late payment fee. Also, the purchase APR for this credit option is slightly higher at 23.99%.
PayPal has two credit cards for its customers, the PayPal Cashback MasterCard and the PayPal Extras MasterCard
PayPal Cashback MasterCard
This is the perfect credit card for occasional shoppers who are looking for a simple credit card that doesn’t have unusual reward features. The PayPal Cashback MasterCard supports a flat reward system where users can earn 3% unlimited cash back when they shop with PayPal and 2% cash back when they shop outside PayPal. Also, this card doesn’t have an annual fee, and it offers a competitive APR of between 15.24% and 27.24%.
Besides, the PayPal Cashback MasterCard offers added convenience as it’s accepted almost everywhere. The only drawback of this credit card is that it’s not yet available to new cardholders. You also need to have a PayPal account to enjoy the perks that come with this card.
PayPal Extras MasterCard
This credit card is perfect for frequent shoppers of gas and dining and those who love to shop in popular areas such as eBay. Additionally, This card earns you 3 points for every $1 spent on dining and gas, 2 points for every $1 you spend on eBay and PayPal, and 1 point for every $1 you spend on other buys.
You can redeem this card’s accumulated points for non-cash items, such as:
- Gift cards for retail, gas, and restaurants after accumulating at least 800 points
- Merchandise such as sports, electronic and household items after accumulating at least 3,000 points
- Plane ticket, car rentals and hotel stay travel vouchers if you have at least 15,000 points
To get cash back with this credit card, you have to have accumulated at least 6,000 points Again, this card has no annual fee, and it can be used anywhere where MasterCard is accepted. The APR for this card ranges between 14.99% and 26.99% in line with your credit rating. Late payments attract a $40 fee, and the minimum credit line you get with this card is $250. But remember, Just like the PayPal Cashback MasterCard, you need an active PayPal account to apply for this credit card.
PayPal Debit and Prepaid Cards
Prepaid MasterCards, PayPal Cash cards, business debit cards, and the list goes on… We’ll go over each of the available PayPal debit and PayPal prepaid credit card options in detail using statistical data in the section that follows.
PayPal Cash Card
Get PayPal cash card by loading a card with money, you can use it for online purchases or to send and receive money, and that is what makes this PayPal prepaid credit card a perfect choice for shoppers who want to control their spending. Backed by the MasterCard Zero Liability policy and FDIC insurance, which protects your money if your card is lost or if there are problems with PayPal management. This card has no annual fees and no hidden fees, but it does have an ATM withdrawal fee of $2.50 and over-the-counter withdrawals at financial institutions also attract a $3 fee. If you use it for foreign transactions, you’ll have to pay a 2.5% fee and there is also a cash reload service fee of up to $4.95.
PayPal Business Debit Card
The PayPal business debit card is designed for business owners who want to manage their daily costs using PayPal. This card allows you to make payments, withdraw cash from ATMs, and send and receive money. In addition, this card offers 1% cash back on all qualified PayPal transactions and has no annual fee.
However, It Does Have the Following Fees:
- ATM domestic withdrawal fee of $1.50 for each withdrawal made in the US
- A $3.00 teller-assisted withdrawal fee
- ATM international withdrawal fee of $1.50 per withdrawal
- Foreign transaction fees of 1% on the purchase amount made from a non-US merchant and 1% of the withdrawal amount made at a non-US ATM
PayPal Prepaid MasterCard
The PayPal Prepaid MasterCard offers free money transfers from your PayPal account and cash-back rewards. This card despite its flexibility has its cons as it attracts a $4.95 monthly fee. If you use it for ATM withdrawal, it will cost you $2.50 in addition to the ATM operator fee. Using it to access funds over the counter also attracts a $3 fee.
What Is the PayPal Rewards Card?
One credit card that sticks out is the PayPal Rewards Card, which gives reward points for every eligible purchase. What makes this card special is that you may spend your points anywhere you choose; there are no limitations. Redeem your points at hundreds of participating physical and online retailers across the globe, giving you a flexible and satisfying option for your shopping requirements.
- Global Redemption: The PayPal Rewards Card gives you a multitude of possibilities for using your accrued rewards because, in contrast to some reward programs, it enables you to redeem your points at physical locations all over the world in addition to online.
- Global Accessibility: The PayPal Rewards Card is not limited to a particular area and offers users who regularly conduct cross-border transactions or travel a smooth and satisfying experience by allowing them to redeem points at international stores.
- No Purchase Restrictions: You are not limited in the kinds of purchases that can earn you reward points. Every qualified transaction counts toward point accumulation, regardless of whether you’re buying necessities or treating yourself to a luxury purchase.
What Are the Key Features of the PayPal Rewards Card?
The PayPal rewards card offers two sorts of cash rewards. The first is Pay with Rewards, which allows you to redeem 2000 points for $10 worth of goods. The second cash reward option is to redeem 2,000 points for $7 off any eligible purchase made using the PayPal reward card account. Furthermore, if you spend $3000 on an approved purchase during the first month of card acceptance, you will receive 50,000 bonus points, which is equivalent to $275.
Other Notable Features of The Pay Pal Reward Card Include:
- The credit card provides infinite reward points with no annual charge.
- Users get one point for every dollar spent on approved purchases.
- The digital card is linked to your PayPal wallet, and you can add up to four more cardholders to it.
- It offers three types of instalment plans: transaction, statement, and cash.
- The card has a minimum credit limit of $4000.
- Late payments on credit card statements incur a $30 fee.
- The card charges a cash advance rate of 21.74% and a retail purchase fee of 20.99%.
Key Insights to How Does PayPal Work
If you want to pay with credit, prepaid, or debit cards, PayPal has you covered cause it is simply one of the most popular online payment services. Hopefully, this post has helped you understand the various PayPal debit, credit, prepaid, and reward cards and how they work. So, what are you waiting for? Simply go out and make an informed decision on the best PayPal card for you or your business.
Other Details About the PayPal Cards:
For you to access any of the PayPal cards discussed above, you need to have an active PayPal account, as these cards link to your account. You also need to have a good credit card score to get any of the two PayPal credit cards. To get any of the PayPal cards, send an online request to PayPal. The prepaid card can also be bought from specified retail locations.