Opinions on the Paypal 2% Cashback Mastercard?

[reum]

I know the paypal cashback mastercard is the highest cashback flat-rate credit card in the market right now. But I saw a handful of people complaining about the card and wishing they have not had the card mainly due to slow payment process and freezing the account on big purchases. Someone also mentioned about dropping 50 points on their credit score just by getting it.

For those who have this card, is there any positive or negative comments that should be made about this card whether about cashback, payment process, credit usage, etc? 

[Oregon11 · Accepted solution]

@reum

The PayPal Cashback credit card bill can be paid with either your linked PayPal bank accounts or your PayPal balance. Payments can take up to a week to process out of your checking account for new accounts, but do eventually process within a few days after the account has been established. The available credit will update immediately after posting payment.

Cashback is available immediately after your most recent billing statement processes and can be instantly transferred to your PayPal balance. There are also no minimum cashback amount restrictions.

The bank that issues the card on behalf of PayPal can be very generous with limit increases.

The card offers a free monthly Trans Union FICO 08 Score.

There are no foreign transaction fees.

The card is linked directly to your PayPal account. Accessing the card account is possible only through your PayPal account. 

There are really no negatives with the PayPal Cashback credit card. You could say that the PayPal App access is too limited; only listing available credit and balance details, but if you need to access specific card details on your phone or tablet you can always use your browser.

The card is one of the best cashback cards available. PayPal hit a home run for account holders by offering it. 

[gcookaustin]

Apparently, beginning some time this month Synchrony/PayPal has stopped pushing updated transactions to the Mint.com budgeting site I use.  When I inquired they told me that they now only update to Mint once per billing cycle (?!!).  It has only been a few days but if that proves to be the case I will almost certainly quit using this card, as that is entirely unacceptable to push updates so infrequently.  Even when it was working "normally" I would see transactions 2-3 days behind vs all my other accounts.

[McFlies]

Heya, how did the Mint situation work itself out? I also use that website to keep track of transactions when the bank goes down for maintenance or never loads ever... I'm also planning on potentially getting this card too

[gcookaustin]

Yes it now updates the same as other credit cards do in mint.

[McFlies]

Awesomeness, thanks for the update