Paypal Relaunches Their 2% Card With Added $100 Bonus & 3% Category For All Forms of Paypal Payments

Update 5/17/22: Card is now live for signup at this link. Comes with the $100 signup bonus after $500 spend, valid through June 30, 2022. Read our full review in this post. (ht USCCG)

Original Post 4/5/22: 

Paypal is updating their 2% Mastercard to now have the additional benefit of earning 3% when paying with Paypal, whether you pay online, on mobile, or in-store with PayPal QR Code where eligible. The card will earn 2% everywhere else.

Paypal Link | Press Release | Join the waitlist

They are also adding an update where the cashback is available daily, without the need to wait for statement close. These upgrades will be automatically valid for existing cardholders as well when it goes live.

They are also adding a signup bonus for new customers to get $100 after $500 spend.

• READ: Paypal Cashback Mastercard Review: 2% Everywhere Card + 3% On Paypal

Our Verdict

These are amazing new benefits, this feels like an attempt to compete with Apple card. It’s pretty incredible that Paypal will now have what’s probably the single best card for most people who aren’t ready to play the category/transfer game. The downer is that the card now has foreign transaction fees, but still an excellent card for U.S.

• See our previous reviews on the card here and here. We’ll do an update when this goes live.