The PayPal Cashback Mastercard and the PayPal Rewards Card are two popular options for individuals looking to earn rewards on their daily purchases. One of the most attractive features of these cards is the signup bonus offered to new applicants. In this article, we will delve into the details of the PayPal card signup bonus, including the benefits, terms, and conditions.
PayPal Cashback Mastercard Signup Bonus
The PayPal Cashback Mastercard offers a competitive signup bonus to new cardholders. Currently, new applicants can earn a 200 cashback bonus after spending 500 on purchases within the first 90 days of account opening. This bonus is awarded as a statement credit, which can be redeemed towards future purchases or transferred to a PayPal account.
Earning Cashback Rewards
In addition to the signup bonus, the PayPal Cashback Mastercard offers 2% cashback on all purchases, with no rotating categories or spending limits. This means that cardholders can earn unlimited cashback rewards on every purchase, from groceries to gas to dining out. The cashback rewards are automatically added to the cardholder’s PayPal account, where they can be redeemed towards future purchases or transferred to a bank account.
| Category | Cashback Rate |
|---|---|
| All Purchases | 2% |
PayPal Rewards Card Signup Bonus
The PayPal Rewards Card offers a different signup bonus structure, with new applicants earning 3x points on gas stations, restaurants, and PayPal purchases for the first $1,500 spent within the first 90 days of account opening. After reaching the spending threshold, cardholders earn 2x points on gas stations, restaurants, and PayPal purchases, and 1x point on all other purchases.
Redeeming Rewards Points
The PayPal Rewards Card offers a flexible rewards program, with points redeemable towards cash, gift cards, or travel bookings. Cardholders can redeem their points through the PayPal website or mobile app, with no minimum redemption threshold. The points do not expire, and there are no blackout dates or restrictions on redemption.
- 3x points on gas stations, restaurants, and PayPal purchases for the first $1,500 spent
- 2x points on gas stations, restaurants, and PayPal purchases after reaching the spending threshold
- 1x point on all other purchases
Comparing Signup Bonuses
Both the PayPal Cashback Mastercard and the PayPal Rewards Card offer competitive signup bonuses, but the key difference lies in the rewards structure and earning potential. The PayPal Cashback Mastercard offers a straightforward 2% cashback on all purchases, while the PayPal Rewards Card offers 3x points on specific categories and 2x points on others.
| Card | Signup Bonus | Rewards Structure |
|---|---|---|
| PayPal Cashback Mastercard | $200 cashback bonus after $500 spend | 2% cashback on all purchases |
| PayPal Rewards Card | 3x points on gas stations, restaurants, and PayPal purchases for the first $1,500 spent | 2x points on gas stations, restaurants, and PayPal purchases, 1x point on all other purchases |
What is the signup bonus for the PayPal Cashback Mastercard?
+The signup bonus for the PayPal Cashback Mastercard is a 200 cashback bonus after spending 500 on purchases within the first 90 days of account opening.
How do I redeem rewards points on the PayPal Rewards Card?
+Rewards points on the PayPal Rewards Card can be redeemed towards cash, gift cards, or travel bookings through the PayPal website or mobile app, with no minimum redemption threshold.
