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Review of PayPal Credit Card

Updated on November 21, 2017
smcopywrite profile image

It is wonderful to investigate, gain knowledge and know how before making major decisions in life. Knowledge is power.

What is in and out of an individual's wallet is very important

Investing in a smart financial future takes education and time. The right decision is not always guaranteed but make an informed one for the best outcome before taking off in the wrong direction
Investing in a smart financial future takes education and time. The right decision is not always guaranteed but make an informed one for the best outcome before taking off in the wrong direction

Is it a debit or credit card?

The card is branded as a MasterCard which separates it from the regular Visa debit card by the same company. Before signing up for this particular credit instrument, take a look at what it has to offer. For most individuals the process is made easy with the marketing techniques being used. Simply apply and receive an immediate response. It takes at most one hour. A written response comes within 24-48 hours. This fast reply time is why the company is celebrated.

Look at the offers available for card holders

PayPal is acknowledged as one of the best payment options on the web. When doing business on the virtual world there are obstacles not foreseen with the same services in the brick and mortal shopping sphere. This little small piece of plastic has been branded by billions as the most popular way to pay for just about anything. Evolution has given business another step in a different direction of the retail market. Countless are not aware of the benefit of using it on as well as off the web.

The owner or backbone of the company

GE or General Electric is the big corporation behind the name. As one of the largest and oldest companies in the nation the brand is well known. Designers are hoping this venture is as profitable as previous ones. Success has been a virtue. The name alone creates an atmosphere of stabilization.

The American stock market has seen this business on the roster for over 100 years. It is certainly not a guarantee of success. Though, there is feeling of less uncertainty or risk than an unknown or new company.

Discover more before becoming a member

Obtaining as much info as possible is a great idea for any item before investing in it. Remember, this type of credit instrument effects a personal rating of an indiviudal's ability to repay for years to come.

Credit decisions based in payment history is capable of affecting financial futures in an enormous way. The decision to get one or not is not just as simple as a coin toss.

The more a person learns the better the outcome. There are fewer if any surprises and the choice to get one is much easier.

Read the small print

It seems such a small thing in a big picture, but it does hold weight. People have accepted this type of lending as a young person and failed to read the small print. Conditions and rules of the instrument were not a good fit for finances at the time. Circumstances made paying on time or not at all the only options.

This led to an outcome which put a blight on a credit report. Once an individual is behind, it is an enormous task to get caught up. Change is the only alternative to make this heavy load lighter and more manageable. Making more money or having less bills is the answer.

It sounds like an easy pick. However, if there is a simple formula for making this take place everyone would do it. Make certain the terms and conditions are a good fit.

It costs when things do not go as planned

Being young and looking forward to what happens a decade from now is one of the most difficult things to do. These same folks become adults and reach out for other kinds of borrowing. Surprisingly, there are a number of companies picking through backgrounds before deciding to give monies away.

Mortgage companies are one of the largest businesses looking for warts or bumps in the credit history. Failure to repay or make timely ones is like an enormous stop sign. Folks never see this one coming when signing up for something as small as a credit card ten years before getting to this spot.

Advantages to getting one

This is a couple of things about the card in general which makes it a distinct one in the marketplace when compared with similar resources.

Promotional appeal

This financial instrument was initially presented to the world in 2001. As a celebrated business there have been tons of dollars invested for ads. The site is jam packed with them begging people to try one out.

Additionally a promotion is in place sending out tons of emails to PayPal debit card users with an appeal to apply. The process for the MasterCard appears simple and stress free.The security of using the debit card of the same name is the most attractive draw for most patrons. The financial transactions are easy to follow and the site one of the easiest to navigate.

Seeing all of these makes a lot of individuals curious about whether or not getting one is a good move for future finances. Using this in place of another card in a wallet is a great way to spend time and make an educated move in the right personal financial future.

Rewards program

The company has added a rewards program approximately two years ago. Along with shifting to add this, the name of the card changed to PayPal Extras MasterCard. By changing the name and improving this program they are hoping to draw in more applicants.

A number of people have actually applied and were approved and currently use it. Before making the same move for personal finances, find out some positive and negative points about it for a more informed decision.

This is only a couple of the recognizable differences. Discussing the negative aspects of the card warrants a little more room. Unfortunately, there simply isn't enough positives to discuss to display an appeal above and beyond the nearest competitor.


  • Rewards

Lots of cards in the marketplace bombard customers with the deal of a rewards program. With this one there are different levels of incentives to choose from. Earning points gets users all sorts of different rewards.

There are more than a few categories of purchases which give 2X and 3X points on when buying goods or services. Though, lots of points are needed to trade for incentives according to numerous users.

Examples of these incentives include things like a $15 Applebee’s card for 2500 points. While a whopping 15,400 nets a $100 travel voucher. This means more than a few dollars needs to be spent to collect these valuable treasures.

  • Interest

Interest rates are one of the first things investigated with any form of credit. How much will it cost to borrow money? Unfortunately, individuals looking for the lowest rates in the marketplace will not find them here.

The application page fails to mention any actual credit rates for individual cardholders. This is a variable which depends on what an application review decides. For example, those customers with a low credit rating pay a higher interest and the opposite is true for any with a higher credit rating.

In fact, they are only found after clicking on apply now. With more than a few different percentages it is confusing when this is not stated in plain wording.The cards with higher rates are almost undetected among the small print of the page. Additionally, an easier navigation around the site is a must.

PayPal MasterCard users receive interest rates of 19.99 percent or 23.99 percent. Two different rates are extended depending on the applicants credit score. These are extremely high and not very competitive.

Users complain with credit scores in the high 700s or FICO scores in the same range should not have interest charged this high. Similar companies around the web have lower rates and reward members with good credit. A high 700 score warrants an extremely low rate with comparable websites.

The PayPal Smart Connect has an even scarier interest rate of 26.99 percent. This particular portion of the company branding is not advertised as much as the new found PayPal credit card. Find out more about this credit investment on the website.

  • Customer service

Customer service is handled by both companies. There are some issues PayPal deals with while others are taken care of directly by GE(parent company). This divide is not clearly defined and countless customers find they are making several phone calls for assistance in most cases.

  • Information about the company

Finding material about the program is frustrating. There is none to be found on how it works and how much each point is worth that jumps out from the information page. A general blurb about getting cash back, merchandise and even travel is there.

Though there are no details on how many points it takes to get any of these as rewards.personally most individuals are using the service to another site gave better info. Spent hours on this issue.

Important details on how it works were unaccounted for. This was true for the information page as well as customers clicking on “the apply now” button on the site.

  • Promotion is a must

Along with the site falling short on the material, emails were even worse. The overview implies receiving the email means qualification is automatic. This is not true. Everyone interested must apply and receive approval. They contain a link to the application page, but still are absent substance on points, earning them and the rewards.

Most of the subject matter surrounding the point structure was discovered only after calling customer service.

Marketing is of course necessary for every business interested in financial gain. Though, the promotion of this particular item has been lacking in substance. This negatively affects the appeal of the card.

  • GE is the parent company

Although the business extending the card is PayPal the owner and administrator is actually the GE Capital Retail Bank. The reviews in general on this company are not favorable. They are a purveyor notorious for having very low end retailer credit cards and terrible customer service.

There are several circumstances where GE is the contact to resolve rather than PayPal. This means direct contact with the other company and bypassing PayPal entirely.

  • Unable to download info

Users have complained there is no way to download transactions on the credit card to software programs designed for finance. I.e. Quicken. Additionally, online history is available for downloading, but anything purchased offline will not be reflected. For example, eBay transactions are downloading, but not the coffee bought from the shop around the corner last Tuesday.

These are the negative aspects of the card. There are a few more positives when looking particular hard at this company and the PayPal credit card business.


  • Brand

Brand recognition is always favorable. Nine out of ten people are familiar with the name PayPal. This means when using it to make purchases the chance are it will be accepted without question in nearly all circumstances.

As a subsidiary of EBay they have an impeccable online reputation. As the first online payment system, the company has helped billions of individuals and companies administer business without incident.

Individuals doing lots of transactions through PayPal find it quite useful. It is easy to use this type of card versus another company for the same transaction.

Linking another card to a personal PayPal account is more difficult than using this one to do the same actions.

  • Alternative if denied

Anyone denied after applying for the card routinely has an alternative. The company considers this applying automatically for a PayPal Smart Connect. This is a line of credit for things such as eBay purchases.

Individuals working with Smart Connect have a shakier credit history and are the bottom of the totem pole. Generally the credit line is small with a more than 26% interest rate. A credit approval rating is needed for the Smart Connect PayPal uses.

  • Get cash in PayPal account

The point system routinely has arrangements for things like travel and merchandise based on card purchases. There is the opportunity to get cash back in any PayPal account as well. Earning 6,000 points gets you $50 deposited in your account. This is a great way to grow your balance while buying things you use every day in many instances.

  • Interest rates

Customers turning away because of the high interest rate, but if like other factors of the card have an alternative. Pay off the card balance each month. Without an annual fee, this means no interest rate and extra monies spent simply for using it while still getting things like rewards.

  • Rewards

Although countless customers admit the rewards points are not worth the trouble, there are more than a few who disagree. In fact, they admit the company is on the same level as some of the most recognized credit card companies in the marketplace today.

Companies like Citibank are comparable and on the same level with incentives and the points system. Chase is another name mentioned by several consumers.

In conclusion

The PayPal MasterCard is not really a great deal overall when compared with other similar financial instruments in the marketplace. There are much more negatives than positives when compared side by side. There are a number of reasons this opinion is outlined here. The negative aspects of the card outweigh the positive ones for most people which makes a very easy decision.

The interest rate is one of the most important factors when choosing a credit card. These are much higher than average for this one and will turn lots of customers away. Saving money whenever possible is a brilliant strategy to spending money. It makes money go further.

Tallying up the rewards for point purchases mathematically means customers get less than one percent in all scenarios. No matter what the incentive chosen, less than one percent is returned back for the money each customer will spend. In countless cases this is thousands of dollars.

A small amount of knowledge goes a long way and deciding if this works for an individuall's needs or not is a personal decision. My personal point of view is take a pass and look elsewhere for better benefits for the same services.

The PayPal Company has been in business for years. For the most part customers feel safe and secure with a credit card from the same company. This renowned business is possibly in trouble with this investment. The popularity didn’t skyrocket or go viral. In fact, it crawls at a snail pace from where it was designed to be. Creators simply assumed it was going like hotcakes because of the branding done for PayPal

PayPal works along with Amazon for wonderful buys.

PayPal card tutorial. This is an easy explanation of how the card works

© 2013 smcopywrite


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    • smcopywrite profile image

      smcopywrite 4 years ago from all over the web

      I too have the paypal debit card and have been satisfied. I haven't tried the mastercard and looks like I will not based on what I found out. thanks for reading.

    • Alphadogg16 profile image

      Kevin W 4 years ago from Texas

      Very informative hub smcopywrite. I've has a paypal account for years, and even have the Paypal debit card. I do a lot of transactions on paypal so when I recently received the credit card offer, I was contemplating about it. Good information to know. thumbs up on your hub,