Paypal Cashback Mastercard

nogoodwithmoney11111

Hi,

have come across this credit card with "up to 2% cashback on all purchases" The website frustratingly provides no further detail on whether this is a tiered cashback system, is vendor dependent etc.. It is Santander backed and I am aware of the general sentiment towards them on this site.

Anyone have/know about this card? What are the cashback terms like? I have an Amex cashback already but use it for work so need a personal cashback card for also when AMEX is not accepted.

thanks in advance:money:

nogoodwithmoney11111

Scratch that - I just found it - ha! typical.

Seems quite good though, although its actually voucher based.

So I spend £10,000 on average a year on the card. Say it is all non paypal retailers so its effectively 1% cashback.

£10,000 = 1,000 points = £10 vouchers to spend (almost) anywhere. BUT you get a £20 voucher on your first purchase so thats akin to 3% cashback in the first year, or 4% if you entirely spend with Paypal retailers (unlikely for me).

Therefore the first year rate is an effectively between 3 and 4 percent depending on the mix of paypal retailer/non retailer spend. Subsequent years will be between 1 and 2%.

On the face of it sounds better than the Capital 1 world mastercard (1% on all purchases, true cash back)

Can anyoen help me ou with the vouchers thing?would I be restricted to particular purchases/retailers? Are there any paypal charges that negate this reward?

thanks in advance.

danjourno

I've got a Paypal Mastercard and just received £30 of reward vouchers. (including £20 gift as a thank you for taking out the card).

However, I've just discovered that you can't use the vouchers for most paypal transactions. Only selected websites allow you to use the vouchers.

Has anyone else found this? I think it is totally misleading and probably illegal the way they hid this fact.

nogoodwithmoney11111

Thanks a lot - excellent bit of info. Sorry you seem to be stuck with ther vouchers, i am sure someone will come along with some suggestions.

Scrounger

I have this card and use it for Ebay purchases (2% cashback). The vouchers are a bit of a pain but, again, work OK for Ebay (via Paypal).

IMO it is worth getting (even if only for the free £20 - just make one purchase in the high street eg a tin of beans in Tesco).

Scrounger

danjourno

I got around my problem by using Paypals website to search of a website that offers the product I want and accepts Reward Vouchers.

Still, its not as simple as other cashback cards.

Scrounger

danjourno wrote: »

Still, its not as simple as other cashback cards.

I haven't been able to change the card PIN - is it possible?

Scrounger