Synchrony Bank PayPal Cashback MasterCard Review
Updated February 12, 2021.
The Facts
The Math
Synchrony PayPal MasterCard vs. other no-annual-fee 2% cashback cards: Citi Double Cash doesn't require any banking relationship to apply or to redeem, but has a $25 minimum before you may redeem. Elan Fidelity Visa requires a linked Fidelity account (brokerage, cash management, retirement, or 529 account) and a $50 minimum to redeem for 2% cashback. Alliant Visa Platinum requires that you join Alliant Credit Union before you may apply (technically any person in U.S. can join) and a $20 minimum before you may redeem. Synchrony PayPal MasterCard requires that you have a PayPal account to apply and to keep the card open, but has no minimum redemption requirement.
Synchrony PayPal MasterCard vs. Alliant Visa Signature (2.5% cashback with a $99 annual fee): if your annual spending is larger than $20,000, you should consider Alliant Visa Signature, for better rewards and waived foreign transaction fees.
The Conclusion
We consider the PayPal MasterCard, along with other no-annual-fee 2% cashback cards, as our benchmark for general spending. Only very few cards have potential to beat it in this category. Please check out Alliant Visa Signature when your annual spending exceeds $12k, or Amex SPG and Amex EveryDay Preferred if you prefer miles/points over cashback.
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The Facts
- Annual Fee: None
- Signup Bonus: None
- Application Landing Page
- Rewards: unlimited 2% cashback to your PayPal account, with no minimum redemption requirement.
- Other Facts: you need to have a PayPal account to be eligible for this card. The card will be closed if you PayPal account is closed.
The Math
Synchrony PayPal MasterCard vs. other no-annual-fee 2% cashback cards: Citi Double Cash doesn't require any banking relationship to apply or to redeem, but has a $25 minimum before you may redeem. Elan Fidelity Visa requires a linked Fidelity account (brokerage, cash management, retirement, or 529 account) and a $50 minimum to redeem for 2% cashback. Alliant Visa Platinum requires that you join Alliant Credit Union before you may apply (technically any person in U.S. can join) and a $20 minimum before you may redeem. Synchrony PayPal MasterCard requires that you have a PayPal account to apply and to keep the card open, but has no minimum redemption requirement.
Synchrony PayPal MasterCard vs. Alliant Visa Signature (2.5% cashback with a $99 annual fee): if your annual spending is larger than $20,000, you should consider Alliant Visa Signature, for better rewards and waived foreign transaction fees.
The Conclusion
We consider the PayPal MasterCard, along with other no-annual-fee 2% cashback cards, as our benchmark for general spending. Only very few cards have potential to beat it in this category. Please check out Alliant Visa Signature when your annual spending exceeds $12k, or Amex SPG and Amex EveryDay Preferred if you prefer miles/points over cashback.
© 2011-2021 DrCreditCard.net All rights reserved.