Paypal Credit Card

4_Pete's_Sake

Paypal have introduced a Cashback Credit card that gives 2% cashback when used with a Paypal Retailer online and 1% when used anywhere else. It also gives up to 56 days free credit and £20 Cashback when you first use the card on the High St. This seems to be very good.

It also gives 3 months interest free credit on purchases and 12 months interest free credit on Balance Transfers.

The Cashback is accumulated in points and 500 points = a £5 voucher however the information given on the website does not say how this voucher can be used. Are you able to opt for a £5 Credit on your next statement?

Does anyone have one of these cards yet who can share your experience of how the Cashback works.

The one downside is that the only contact number for Paypal's Credit card is a Premium Rate No. 0871 5225155.

Mr.Mulla

That's good to know, they do have debit card as well right?

lisyloo

For Pete's sake where does it say cashback??

williham

http://www.paypal.co.uk/credit/rewards - details

Login to your account and click on the advert for credit card on the right hand side.

benoit

What advert for credit card? There isn't one.

benoit

Right, you mean the pay as you go top up DEBIT card?



ETA: I found it - not by following that link though. lol

4_Pete's_Sake

No it is not a debit card it is a mastercard Credit Card that gives up to 56 days free credit and up to 2% Cashback.

See the below link for further information:

https://www.paypal-marketing.co.uk/mastercard/mlp/index.htm?placement=FC

What I want to know is how you spend the reward points?

lisyloo

Hi Pete,

I believe if you read it you wiull find it says
https://www.paypal-marketing.co.uk/mastercard/mlp/index.htm?placement=FC
"Up to 2% back" with no mention of cash.

You get 2% back at certain retailers ONLY, you then get vouchers only when you have accrued a certain amount and then you need to make a further spend to use it.
This is not the same as CASH, which does not require further spend.

Cashback is not mentioned in the two links you've posted.

I will be generous and assume this is an accidental error on your part and not deliberate.

I haev search both pages for the string "cash", so if you think "cashback" is there perhaps you'd be kind enough to explain in detail, where it says cashback.

What I want to know is how you spend the reward points?

Aha, so you do realise it's not cash?
Why are you calling it cash then?
This could mislead people.
Cash is something you can spend anywhere and put it your pocket.
Not the same as reward points at all.
I'll still be generous and assume it's an error but please try to read it properly and not mislead people.

If you can't see how to spend the "rewards" then don't you think it doesn't sound like such a great deal????

williham

lisyloo wrote: »

I believe if you read it you wiull find it says
https://www.paypal-marketing.co.uk/mastercard/mlp/index.htm?placement=FC
"Up to 2% back" with no mention of cash.

You get 2% back at certain retailers ONLY, you then get vouchers only when you have accrued a certain amount and then you need to make a further spend to use it.
This is not the same as CASH, which does not require further spend.

Cashback is not mentioned in the two links you've posted.

I will be generous and assume this is an accidental error on your part and not deliberate.

I haev search both pages for the string "cash", so if you think "cashback" is there perhaps you'd be kind enough to explain in detail, where it says cashback.

Aha, so you do realise it's not cash?
Why are you calling it cash then?
This could mislead people.
Cash is something you can spend anywhere and put it your pocket.
Not the same as reward points at all.
I'll still be generous and assume it's an error but please try to read it properly and not mislead people.

If you can't see how to spend the "rewards" then don't you think it doesn't sound like such a great deal????

You get £20 CASH if you spend on the card, so I guess that counts as CASH BACK????
But yes you are correct it gives 1% back in paypal vouchers for spend on the highstreet and 2% back in paypal vouchers for spend through paypal so not CASH.

Stop being so pedantic, you've said the same thing about 10 times, the links show it's not cashback so obviously we know it's not cashback!

4_Pete's_Sake

lisyloo wrote: »

Hi Pete,

I believe if you read it you wiull find it says
https://www.paypal-marketing.co.uk/mastercard/mlp/index.htm?placement=FC
"Up to 2% back" with no mention of cash.

You get 2% back at certain retailers ONLY, you then get vouchers only when you have accrued a certain amount and then you need to make a further spend to use it.
This is not the same as CASH, which does not require further spend.

Cashback is not mentioned in the two links you've posted.

I will be generous and assume this is an accidental error on your part and not deliberate.

I haev search both pages for the string "cash", so if you think "cashback" is there perhaps you'd be kind enough to explain in detail, where it says cashback.

Hi Lisyloo

Yes it was an oversight - well spotted.:eek:

The reason for this oversight was in the Promotional email that Paypal Sent me which read as follows:

Does your credit card earn you money each time you shop? With a PayPal MasterCard you can earn up to 2% cashbackˆ on all of your purchases, whether online or on the high street. Simply apply now and get paid to shop in 2010!:mad:

I have phoned Paypal to enquire how to used the vouchers, they have advised as follows:

As soon as you have accumulated the 500 points, you receive a £5 voucher, which can be used on any site which accepts Paypal as a form of payment, ie ebay, argos, ToyRus, Interflora, JD Sports, Thorntons, BHS, Dorothy Perkins, Boots and many more. For the full list go to https://www.paypal-offers.co.uk/searchMerchant.do?page=search&aid=8&action=page.do?page=search&type=2851&subtype=-1

2 points are earned for every £1 spent at these online retailers and 1 point for every £1 spent at other retails. Also you receive a £20 voucher when you first use the card on the High St.

Although it is not "CASHBACK", it is not going to be very hard to spend the vouchers with such a choice of places. I would imagine that I will spend all mine on ebay alone.

I have applied for the Card in my name and will be able to add additional cardholders once it has been fully set up.

With rewards of between 1% and 2% and up to 56 Days free credit I believe this is one of the best reward card deals out there. :rotfl:If you know of a better one, please tell me about it.

lisyloo

If you know of a better one, please tell me about it.

AMEX (platinum cashback card) offers 5% for 3 months on up to £2000.
You need a salary of £30K to apply though.
You also need to spend £3K to qualify and the rate between £2K and £3K is 0.5% so it works out as an effective rate of 3.5%.

There are a few other things you need to know.
1) It's not universally accepted so you need a backup mastercard/visa.
2) Don't let it go dormant, keep spending to make sure it's not cancelled (a sandwich a month would do).
3) Cash back is on whiole pounds, so the worse thing you can do is buy £1.99 sandwhiches on it, as you will half your cashback. You need to aim for larger purcahses and/or round amounts.

But if you qualify and can manage it then I believe it's a market leader.