PayPal Cuts PayPal Mastercard Earning Rate To 1.5% (From 2%)

PayPal has sent out an e-mail to PayPal Cashback Mastercard cardholders informing them of the following change:

Starting on August 1, 2024, Eligible Purchases made using your card but not through PayPal checkout will now earn unlimited 1.5% cash back.

The good news is that Eligible Purchases made when you check out with PayPal will always earn unlimited 3% cash back. Plus, you’ll still earn additional cash back by saving offers in the app and on PayPal.com before you shop.

This card used to earn 2% on all purchases and 3% when checking out with PayPal. Only really annoying for people that don’t have another card that earns 2% cash back on all purchases.