Paypal Cashback Mastercard Questions
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I applied for and was approved for the card and currently waiting to receive…I was wondering if anyone here that has the card can answer some questions for me…
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When you get the card and use it (without going through your paypal account) can you view the card transactions within your Paypal Account or only when you click on the link that takes you to Synchrony Bank who services this card…
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I’m not quite clear as to the Mastercard benefits this card offers…I know it does have extended warranty (doubles it up to 1 year) and Price Protection (if you find the item you purchased at a lower price, they’ll refund the difference)
What i wasn’t sure about was, does it also have: Collision Damage Waiver when you rent a car, Lost Luggage coverage, Stolen or damaged coverage (in case the item purchased is stolen or gets damaged)…
Would appreciate the feedback…and also any comments on whether you like the card…
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I guess no one here has the Paypal Cashback Mastercard
Oh well, i did get an e-mail from them that my card should be arriving within the next few days, so i guess i will know soon enough…LOL
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Sorry, I only have the debit Master Card that uses your PayPal balance. I just got it a few weeks ago and like it so far, but I’m sure everything about it is different than their credit card so I didn’t chime in. You’ll have to let us know what you find out once you get it. I have the Citi (2%) double-cash card so this one so it would be redundant, but it would be good to know what viable options are out there in case the need arises.
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@fivetalents No problem…though i appreciate the reply…it was getting a little lonely on this thread…LOL
I will report back when i receive the card (hopefully, in the next day or two) and let everyone here know…
The nice part about the card is that when the statement closes, you get credited with the cashback and can then move it right into your paypal account and from there move it out to a linked bank account if you chose to do so…And there is no minimum amount as far as redeeming the cashback…
I applied for the Citi Double cash also and was approved, though with a lower credit line ($5000 as opposed to $8000 with the Paypal card)…So, i will run with both and see which one i ultimately prefer…
By the way, how is Citi about getting credit line increases? do you have to wait awhile to try and do they give good increases as you go a long? ( heard Synchrony bank who manages the paypal card, is pretty good when it comes to getting CLI’s)
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@craig10x Yes, I felt bad seeing you surrounded by crickets, waiting for a response, LOL.
With the Citi double-cash card, you can have the rewards sent directly to your bank account or applied to your credit card balance (there may be other redemption options but can’t recall right now). There is a $25 minimum required before you can request a reward though.
Citi is OK with credit line increases. I haven’t done one is years but, IIRC, you can request one every 6 months. I don’t recall them ever turning me down whenever I called to request one… even when my credit wasn’t as strong as it is now (but I always pay them on time, pay my last statement balance in full every month, and have been a customer with them for decades). I don’t believe they offer passive increases, you have to contact them and request one. I know they check your credit for each request but can’t recall if it’s a hard pull, though I suspect it is not.
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- …can you view the card transactions within your PayPal Account or only when you click on the link that takes you to Synchrony Bank who services this card…
Your PayPal account is a completely separate entity from your Synchrony-issued MasterCard account, so the only CC transactions that you will see in your PayPal account are the ones paid through PayPal’s website, with your PayPal MasterCard as the tender rendered (e.g., an eBay purchase paid via CC, rather than from your PayPal balance).
From PayPal’s website:
1. Log in to your PayPal account.
2. Select your PayPal MasterCard from your Wallet.
3. You will be redirected to Synchrony Bank’s servicing site, where you will be able to view your transactions, statements, and payments due, and directly manage your account.Note:
- You can schedule online payments up to 30 days in advance.
- Bank payments take 2-3 working days to process.
- We can only accept checks drawn on U.S. financial institutions.
- Transactions will be listed on your bank statement as: ACH Payment PayPal/SYNCB.
You may also make payments to PayPal MasterCard over the phone by calling the number on the back of the card. In addition, payments can be mailed to the address located on the PayPal MasterCard statements.
If you encounter any issues with the webpages or any errors while connecting to Synchrony, I would recommend clearing your browser’s cache and cookies before attempting payment again or trying to make the payment from a different device or browser.
If these instructions or troubleshooting tips do not resolve the issues with making a payment, I’d encourage you to reach out to PayPal customer support for further assistance. Customer support can be reached by clicking “Help & Contact” on the PayPal website, @AskPayPal on Twitter or the PayPal Facebook page.
- I’m not quite clear as to the Mastercard benefits this card offers…
PAYPAL CASHBACK MASTERCARD® REWARDS TERMS AND CONDITIONS
MasterCard Benefits:
https://www.mastercard.us/en-us/consumers/offers-promotions/card-benefits.html
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Thanks guys…yes, i had a feeling that i wouldn’t be able to see the transactions that you do with the card that do not go through paypal, within the paypal site and only when you click the link to the “Synchrony Bank” side…
Yeah, when you click over to read about mastercard benefits on mastercard’s website it lists all the features the card COULD have but as we all know, each credit card provider decides which features they actually want to include…which is why i need that brochure that paypal will send with the card…
Glad to hear it isn’t hard to get CLI’s with Citibank…they are kind of chintzy with initial lines…When i applied for my Bank of America credit card they STARTED me off with $10,000 and i was able to get it upped to $20,000 within just a few months!
So, if ultimately, the Citi credit card is the one i stick with, then i hope i can get it upped to say around $12,000-$15,000 within a reasonable period of time…Though that would probably be faster and easier with Synchrony…
And i am hoping the Paypal card has at least the features i mentioned here (i know it does have extended warranty and price protection as it is mentioned on Paypal’s website)…
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Even the Announcement Press Release from MasterCard is vague about this card’s benefits:
Key benefits of the new PayPal Cashback Mastercard:
- 2% cash back on every purchase – everywhere Mastercard is accepted
- No annual fee
- No limit or expiration on cash rewards earned
- No rotating rewards categories and no restrictions on purchase types
- Cash rewards redeemed directly to PayPal balance – no redemption minimums or limits on how to use rewards
- Zero fraud liability
- Automatically added to PayPal wallet upon approval, allowing immediate use before physical card arrives in most cases
- When used to pay for merchandise through PayPal, eligible transactions receive PayPal Purchase Protection at no additional cost
- Mastercard benefits including extended warranty coverage, purchase protection, and identity theft resolution assistance
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@craig10x said in Paypal Cashback Mastercard Questions:
Glad to hear it isn’t hard to get CLI’s with Citibank…they are kind of chintzy with initial lines…When i applied for my Bank of America credit card they STARTED me off with $10,000 and i was able to get it upped to $20,000 within just a few months!
So, if ultimately, the Citi credit card is the one i stick with, then i hope i can get it upped to say around $12,000-$15,000 within a reasonable period of time…Though that would probably be faster and easier with Synchrony…
It may not be hard to get a Citi CLI, but each one is not huge either. I suppose if they low ball your increase you could ask for a larger amount… it never occurred to me to ask but it can’t hurt. Maybe they’d do a larger increase if you authorize a hard pull.
I agree, they’re my lowest available balance across all of my credit cards by far, including ones I’ve for a lot shorter and never got an increased line on. You can definitely get it up to 12K - 15K, but it might take you longer than with other cards.
One huge advantage for Citi though is the Virtual Account Number service that allows you to generate a temporary credit card number for use on online purchases. You can set a maximun amount allowed for each VAN, when it expires (any time between 1 - 12 months), and track all VAN purchases on the VAN site. This allows you to limit stolen CC #s when shopping or paying bills online (especially with less established/reputable sites), limit what legitimate merchants can charge you (e.g., I set up a VAN with a $1 limit annually for my free Google Play purchases that still require a CC #), make sure you don’t get charged for auto renewals you forget to cancel on time, etc.
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Two additional advantages on the citi credit cards are: price rewind where they search for a lower price and refund the difference within 60 days and also the Warranty Protection adds 2 years instead of one…nice features to have! But i would be pretty satisfied if the Paypal card had all the standard features…
Yeah, i had a feeling Citi was probably as stingy with the CLI’s as they are with the initial line
But if i could get it up to $12,000 to 15,000 it wouldn’t be too bad…
I guess i will need to work with both cards to make the ultimate decision on which one will stay and which one will go…I should have worked with the Pay Pal card first before applying for the citi, but i kind of jumped on it and sorry i didn’t have more patience…Will report on the Paypal benefits as soon as the card arrives…can’t wait to find out
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After not seeing this message for years, when I logged into my Citi CC account today, I received this:
"Please Confirm Your Info
Update or confirm your income information to help us consider you for future credit limit increases and better serve your credit needs.
Total Annual Income: $
Examples: Salary, wages, interest, dividends, rental income, retirement benefits. If you are 21 or older, you may include income from others that you can reasonably access to pay your bills.
Alimony, child support or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for repaying this obligation.
Monthly Mortgage/Rent Payment: $"
Their ears must have been itching.
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Maybe they are going to get better now about giving more reasonable credit line increases? Also sounds like they might start doing automatic increases…
Paypal Card didn’t arrive today…hopefully, tomorrow or monday the latest…I get USPS informed mail so i always know what is rolling into the mailbox each day before it even arrives (lol)…
Citi Double Cash will more likely arrive next week…I have a feeling that ultimately i will probably end up going with the Citi rather than the Paypal…because of all the features included…just wish they were better about those credit lines…
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Still no Paypal card today…looks like that (and the Citi card) will come in next week…
I will report on the benefits of the Paypal card once i get the brochure which should come with the card…@fivetalents Just curious (if you don’t mind telling) what is your Credit Line with Citi for the Double Cash card?
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@craig10x said in Paypal Cashback Mastercard Questions:
@fivetalents Just curious (if you don’t mind telling) what is your Credit Line with Citi for the Double Cash card?
It’s a little over 9K. I stopped requesting CLIs from them over 10 years ago because other cards either gave me automatic increases or very generous increases whenever I requested them. I only wanted the increases so my percent usage would stay low even during months when I charged a lot. Once I got my credit score over 800, I stopped seeking CLIs. I’m curious if Citi is about to give me an automatic one given the request posted above. I wouldn’t be surprised since it’s been soooooo long since the last one.
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Both Paypal and Citi cards rolled in today…On my USPS informed mail i did see a separate letter from Synchrony Bank which probably had the benefit brochure but apparently got “lost” in route to my mailbox…
I activated both cards…Since they were activated, i was able to directly call mastercard and with activated account number in hand, they were able to read me the list of specific benefits of the Paypal Cashback Mastercard…It DOES NOT have Purchase Protection (90 day Stolen/Damaged) or travel benefits like when you rent car (collision damage waiver) travel insurance, trip interruption protection, etc…
All it really has is warranty manager (extra year of warranty coverage) Price Protection (if you see a lower price) and Refund Coverage if the merchant won’t give you one…That’s it…
The Citicard blows the benefits away over the Paypal Card since it has them all…Also, the Paypal is just a platinum card and the Citicard is a World Elite…(not to mention double extended warranty and price rewind and ALL the mastercard benefits)
I’ve decide already in favor of the Citi Double Cash! I’ll sock drawer the Paypal for the month and then close…I’ll be using the Citi card for my main card and my Bank of America Cash Rewards as my back up card (always like to have two cards)…
Unfortunately, don’t see much point in keeping the Paypal Card… I’ll have to work on getting Citi to get my Credit line up to the $12,000-$15,000 range…I guess that will take some time, but when you combine the mastercard features, 2% cashback and the nice online set up at Citibank.com, i think it’s the right “pick”
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And if all of that weren’t enough, World Elite Mastercards now qualify for free ShopRunner memberships now too!!!: https://phatwalletforums.com/topic/4729/shoprunner-memberships-now-free-to-all-mastercard-wold-world-elite-holders.
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Very Cool!
Just one MORE reason to go with the Citicard instead of the Paypal…
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@craig10x IME, Citi wants to do a HP when I ask for potential CLI so I decline. I went around it by PCing AA plat and Dividend to Citi so I now have 4 DC cards which are all active. I use them for GC purchase online for the past 3 yrs w/o problems.
btw, I have the PPEMC and I like that the rewards are posted as soon as statement cuts ready for redemption. Synchrony has also come up with featured rewards monthly and when WM GCs are a penny a pt, i.e.,5000 pts = $50 WM gc, I redeem those instead of 6000 pts for $50 cash. Most often I redeem for both cash and WM gc if they’re part of featured GCs for the month.
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I closed my Paypal Mastercard…they actually make it easy to do so (on the Synchrony Bank link)…I’ll be using the Citi Double Cash as my main card and have my Bank of America Cash Rewards as my back up…Just so many more advantages of the Citi Card that it just seems to make more sense…
Only thing with Citi is i have a feeling it will take quite some time to get it up to the Credit Line i want…Actually, $12,000 would be fine but even to get there will probably be a long haul…LOL
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Here’s a big surprise (a good one)…remember i mentioned that i figured it couldn’t hurt to try for a credit line increase at this time (even though the account is new) since the initial line was granted by a computer of course and this request would actually be evaluated by a real person lol)…I have a very good credit history and an excellent fico score as well…
Just got the e-mail response to my request (I had asked for an increase to $12,000)…
It said: unfortunately although we could not grant your full requested amount, we have increased you limit to: $10,000 which is the maximum amount we can grant at this time…I’ll take it!
Glad i decided to go with the Citicard (instead of the Paypal)…After a few months i might try for $12,000 (or $15,000 tops) after i show a history of doing a lot of purchases and paying the bills on time…
