Is the PayPal Cashback Mastercard worth a spot in your wallet?

The honest math on the PayPal Cashback Mastercard: which credits you'd actually use, what its points earn beyond a plain 2% card, and what its protections would cost to buy.

Synchrony Bank · No annual fee · cash back

Earning rates

3x Purchases through PayPal checkout, or sending money to other PayPal users
1.5x Everywhere else Mastercard is accepted

Card data verified against Synchrony Bank on 2026-08-23.

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