May 30, 2024
81 Comments
by William Charles
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.
You may also like
Wells Fargo Launches Attune World Elite Mastercard ($100 Bonus, 4% On Select Categories, No AF)
Costco: $100 UberEats/Uber Giftcard For $79.99
eBay Will Stop Accepting American Express Cards In August
Share Your Chase Southwest Card 85,000 Referral Link
Chase INK Referrals Slated To Go Down From 40k to 20k In September
Chase Southwest Personal Cards: 85,000 Points with $3,000 Spend
Subscribe
81 Comments
newest
oldest most voted
Brent(@guest_1854228)
June 3, 2024 09:20
#1854228
Please only comment with helpful and applicable feedback and information.
1
Reply
Rick(@guest_1853886)
June 2, 2024 09:37
#1853886
KE claims he’s not triggered but can’t stop posting here about a product he doesn’t use. I guarantee you he is a stone cold loser in everyday life,
1
Reply
Ken(@guest_1853802)
June 1, 2024 23:17
#1853802
I had just decided to get this card before they announced this. I wanted the 3% back on online PayPal checkouts and a 2% catch-all card. A lot of businesses online, large and small, use PayPal checkout and the only other way for me to get much cash back on those purchases would have been a 2% catch-all card. 2% catch-all and 3% online stores – all in one card. It was a great card. It’s a shame.
3
Reply
Novacat05(@guest_1853030)
May 31, 2024 15:44
#1853030
LOL @ the “good news” that they aren’t further devaluing the card than they already are.
9
Reply
KE(@guest_1852896)
May 31, 2024 12:49
#1852896
Anyone still using Paypal after they were caught manipulating T&Cs (then lying about it, then admitting to it buy lying about the reasons) to justify stealing people’s $ from their bank accounts for political wrongthink deserves whatever happens.
20
Reply
Rick(@guest_1853080)
May 31, 2024 16:49
#1853080
KE
I use PayPal all the time. Stay triggered.
4
Reply
Hacker(@guest_1853085)
May 31, 2024 16:58
#1853085
Rick
Stay asleep, sheep
10
Reply
Rick(@guest_1853231)
May 31, 2024 21:16
#1853231
Hacker
Another triggered cretin. Mindless dopes just doing what their overlords tell them to do.
3
Reply
Rick(@guest_1853234)
May 31, 2024 21:17
#1853234
KE
So you support cancel culture?
a(@guest_1853768)
June 1, 2024 21:56
#1853768
Rick
Which cancel culture? Where racists and sexual predators are fires, sued, and blacklisted or where y’all stop drinking a beer because they supported a trans person. Or when y’all lose your sh*t if a non white person is the lead actor?
5
Reply
Rick(@guest_1853880)
June 2, 2024 09:25
#1853880
a
.
Reply
KE(@guest_1853839)
June 2, 2024 01:40
#1853839
Rick
Do you know what triggered means? You replied to my 1 post, about Paypal and their horrible business practices, with 3 separate screeds ranting about unrelated things.
You also don’t know what “cancel culture” even means. *hint* it’s not avoiding using a business because they have unfair T&Cs. In this case, in fact, it is Paypal that is trying to cancel others.
4
Reply
Rick(@guest_1853879)
June 2, 2024 09:24
#1853879
KE
I don’t need hints from low IQ idiots. You must be triggered to spend your time here posting about PP. If you don’t like PayPal, don’t use it.
Reply
Rick(@guest_1853881)
June 2, 2024 09:27
#1853881
KE
That’s a lot of words to say, yes you do support cancel culture. Stay triggered.
Reply
Ken(@guest_1853804)
June 1, 2024 23:18
#1853804
KE
You’re right. I forgot about that.
1
Reply
Is this applying to the business version? I did not get an email about this and I only have the business one.
1
Reply
Recently PayPal had an option to get 3% back when paying federal taxes. Since the processing service charged 1.82% there was an opportunity to make 1.18%. Don’t know if this option will remain available.
Otherwise I use cards like Chase and Discover that have 5% quarters or a specialized card like AAA signature Visa (5% grocery, 3% warehouse clubs). My Alliant Credit Union card is my lowest at 2.5%.
I keep a list for reference
http://www.rejohnsonjr.com/BESTCC.HTM
5
Reply
Hacker(@guest_1853087)
May 31, 2024 17:02
#1853087
Robert Johnson
Should add in Bank of America cashback cards, and cash back should be calculated net of fees. Amex Bluecash Preferred is NOT a 6% card for groceries, net of AF it is 4.4% at best.
Reply
Ostrich Rider(@guest_1853243)
May 31, 2024 21:28
#1853243
Robert Johnson
Nice List! I have most of these, minus the Amex for grocery. I do have Bread Cash Back Amex which is 2% everywhere /no limit/ no annual fee.
I like to get new cards with a bonus and 12/18 months 0% for purchases to pay my large bills for medical/dental/home-auto insurance. Robert Johnson
1
Reply
Ken(@guest_1853801)
June 1, 2024 23:11
#1853801
Robert Johnson
Thank you for that list!
Reply
hmmm(@guest_1852792)
May 31, 2024 09:45
#1852792
I have an active cash just sitting so probably gonna start using that
1
Reply
frigaliment(@guest_1852775)
May 31, 2024 08:50
#1852775
there are so many options… WF… Sofi… Fidelity… Citi…
3
Reply
Rick(@guest_1853081)
May 31, 2024 16:50
#1853081
frigaliment
Not at the 3% level. You’re doing it wrong if you think this is a 2% card.
2
Reply
Jjohn8219(@guest_1852772)
May 31, 2024 08:48
#1852772
This news seems to suggest a much bigger issue for PayPal than for its customers. There’s such a broad selection of 2% (or more) cards that most people will be unaffected.
5
Reply
pizza(@guest_1852798)
May 31, 2024 10:02
#1852798
Jjohn8219
It was a 2% card without an AF and that 2% applied on international purchases too. In that respect, it was kind of a unicorn.
2
Reply
Card(@guest_1852816)
May 31, 2024 10:43
#1852816
pizza
What do you mean? If it’s a 2% card then it applies 2% across the board, regardless of if they are domestic or international purchases. e.g. Fidelity VISA, Citi Double Cash, Wells Fargo, etc. are all 2% cards without AF.
Not to mention there is a 3% foreign transaction fee for PayPal card, no?
3
Reply
pizza(@guest_1852956)
May 31, 2024 14:12
#1852956
Card
You might want to eat into those terms. Citi doublecash for example is domestic only. The CB drops internationally.
Reply
Card(@guest_1853033)
May 31, 2024 15:47
#1853033
pizza
I don’t see in the Citi Double Cash terms that say cash back only applies to domestic purchases.
Regardless the 3% foreign transaction fees on the Paypal card make this discussion moot.
1
Reply
RiskandReward(@guest_1852817)
May 31, 2024 10:44
#1852817
pizza
It’s not a unicorn. Fidelity has 2% CB and no AF and no FTF.
5
Reply
anonymous(@guest_1852819)
May 31, 2024 10:49
#1852819
pizza
PenFed Power Cash Visa 2% (for Honors Advantage members; easy), no FTF, no AF.
Fidelity Rewards Visa 2%, no AF, and they recently removed the FTF.
I think there are a couple of others.
1
Reply
pizza(@guest_1852957)
May 31, 2024 14:13
#1852957
anonymous
Penfed’s terms state you only seen
earn 2% on domestic purchases. The rate is lower on international.
Reply
Vince(@guest_1852999)
May 31, 2024 15:09
#1852999
pizza
I just downloaded and read (so I’m assuming the latest) the:
PENFED POWER CASH REWARDS VISA SIGNATURE®
PENFED POWER CASH REWARDS VISA®
Program Rules, Terms and Conditions
and no mention is made of the rewards rate being lower on international purchases versus a higher rewards rate on domestic purchases. Just the standard rewards rate of 1.5%, unless you qualify for the Honors Advantage program, in which case the rewards rate is 2%.
1
Reply
Jjohn8219(@guest_1853018)
May 31, 2024 15:31
#1853018
pizza
This is not correct. I use PenFed abroad on a regular basis, and like (almost) all other cards that carry no FTFs, the cash back is identical.
1
Reply
EP150(@guest_1853075)
May 31, 2024 16:46
#1853075
pizza
Since when? I can confirm that Penfed PCR earns 2% internationally.
1
Reply
anonymous(@guest_1853905)
June 2, 2024 10:49
#1853905
EP150
Same for me, whether during travel abroad, or simply paying online for a service that’s based in a foreign country.
Reply
Jjohn8219(@guest_1853022)
May 31, 2024 15:36
#1853022
anonymous
Another go-to card of mine overseas (no AF and no FTFs) is the Apple card with a flat 2% cash back via Apple Pay.
Perhaps less well known but also good abroad once a week is the X1 card, which regularly includes the “next time you pay with your phone” 3X weekly booster (=2.1% cash back).
Reply
EP150(@guest_1853054)
May 31, 2024 16:23
#1853054
anonymous
Sofi is another one with no FTF, 2.2% with any DD.
Reply
Jjohn8219(@guest_1853078)
May 31, 2024 16:47
#1853078
EP150
Correct, SoFi is arguably my favorite daily card abroad (despite my $10k limit) . Another reason is that it runs on the Mastercard circuit, which gives slightly better conversion rates than Visa and Amex (and dramatically better than Discover!).
Reply
EP150(@guest_1853084)
May 31, 2024 16:56
#1853084
Jjohn8219
That’s interesting about conversion rates. Do you have a link to a source showing the difference between issuers?
Reply
Jjohn8219(@guest_1853114)
May 31, 2024 18:11
#1853114
EP150
I’m not sure this has been (or it can even be) studied systematically, but there are online sources that gathered some data (see, e.g., thinmargin.com/blogs/visa-vs-mastercard-who-gives-better-exchange-rates). My experience of several years has also been consistently in favor of Mastercard, though the difference with Visa and Amex is marginal.
On the other hand, not many people know that Discover’s practices in this area are pretty shady, if not downright dishonest. Officially, their cards carry no FTFs. However, Discover’s peculiarity is to use the highest possible conversion rate in the 3-day window the charge is pending, which often results in a few extra percentage points vs. the other three circuits.
I was using their Miles card abroad during the initial 3% cash back promotion, and one day I had to call in to get an extra $400 back (let’s phrase it that they “unofficially” acknowledged these practices…). Since then, I only use Discover cards in the US, and make sure they leave a $1.99 balance every month..😄
Reply
RiskandReward(@guest_1853073)
May 31, 2024 16:43
#1853073
pizza
It would appear the Paypal Cashback Mastercard also shows a 3% foreign transaction fee, as stated in Synchrony Bank terms:
https://www.synchronybankterms.com/gecrbterms/html/PayPalCashbackApplyTerms_combo.htm
Reply
