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PayPal Business Cashback Mastercard review — Helpful perks with a simple rewards program
Editor's note: The PayPal Business Cashback Mastercard has been discontinued and is no longer accepting applications. Check out our review of the consumer version of this card, the PayPal Cashback Mastercard®.
Deftly managing cash flow is essential to your company’s success. This is true whether you’re just starting out or have been running your business for decades. While many financial products and services exist to help you wrangle your business finances, the right credit card can be an invaluable tool.
If you’re in the market for a new business card, the PayPal Business Cashback Mastercard® is a straightforward option. With helpful perks and a simple rewards program, this card can make it easier to manage your business spending.
PayPal Business Cashback Mastercard
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Annual fee: $0
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Welcome offer: N/A
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Rewards: Unlimited 3% cash back on PayPal purchases, and 2% cash back on all other purchases
APR
The PayPal Business credit card has an APR ranging from 18.49% to 29.99%, depending on your creditworthiness.
Annual fee
You won’t pay an annual fee with the PayPal Business Cashback card, which lets you keep more money in your business bank account.
Welcome offer
Unlike some cash-back credit cards on the market, the PayPal Business Cashback card doesn’t have a welcome offer.
Intro offer
This card does not offer a 0% introductory APR on new purchases or balance transfers; its regular APR will apply immediately.
Rewards rate
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3% cash back on PayPal purchases
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2% cash back on all other purchases
How to earn rewards
With this card, you won’t need to worry about planning your spending or rotating categories. Instead, your business can earn unlimited 3% cash back on PayPal purchases and 2% unlimited cash back on all other business purchases.
How to redeem rewards
PayPal gives you the option to redeem your rewards as a statement credit, and you can also deposit them into your linked PayPal account. You’ll need at least $1 worth of rewards to redeem them.
Additional benefits
Upon approval for the PayPal Business Card, you may get access to a virtual card you can use immediately via your PayPal Business Account. You won’t pay extra for employee cards with this card, and you can customize users’ spending limits for convenience and added peace of mind. Benefits also include cellphone and identity theft protection, as well as two-year extended warranty coverage.
Further, it’s possible in-store purchases could qualify for the higher 3% cash-back rate, provided that retailers accept payments via QR code through the PayPal app.
Who is the PayPal Business Cashback Mastercard best for?
To qualify for the PayPal Business Cashback card, you’ll need to be in business for at least a year, have a PayPal Business Account, and make over $5,000 in annual revenue. Beyond its qualification requirements, this card is best for frequent PayPal users, as its rewards rate is highest for purchases made through that service. Another card might be a better choice if your business depends on another payment service to buy goods and services.
PayPal Business credit card pros
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Decent, straightforward cash-back rewards
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Virtual card may be used immediately upon approval
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No annual fee
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Free employee cards
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Cell phone protection
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Extended warranty coverage
PayPal Business credit card cons
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New business owners may not qualify
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No 0% introductory APR
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No welcome offer
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PayPal Business Account required
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Not available to businesses in North Dakota and South Dakota
Where can you use the PayPal Business Cashback card?
The PayPal Business Cashback card is a Mastercard, so you can use it anywhere Mastercards are accepted, including internationally. You won't pay a foreign transaction fee with this card.
How to make a PayPal Business Cashback card payment
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Online: You can pay online through your PayPal account
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By mail: Mail a check to the address on your credit card statements.
PayPal Business Cashback card customer service info
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Phone number: 1-866-300-6432, available 24/7
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PayPal Business Cashback card login page
Alternative cards to consider
If you frequently use a PayPal Business Account to make purchases, the PayPal Business Cashback card could be a decent choice. That said, some competitor cards offer a longer list of perks. Here are some alternatives worth considering if the PayPal Business Cashback card doesn’t seem right for you.
- Annual fee$0
- Welcome offerEarn $350 after spending $3,000 in the first 3 months, plus an additional $400 after spending $6,000 in the first 6 months
- Card type(s)Business, Cash-Back
- Introductory Purchases APR0% Intro APR on Purchases for 12 months
- Ongoing Purchases APR17.99% - 25.99% Variable
- Recommended credit scoreGood, Excellent
- Rewards rate
- 5% cash back on the first $25,000 in combined spending at office supply stores and on internet, cable, and phone services each account anniversary year
- 2% cash back on the first $25,000 in combined spending at gas stations and restaurants each account anniversary year
- 1% cash back on all other purchases
- Benefits
- Earn 5% cash back on Lyft rides through March 2025
- Get a 10% bonus on the cash back you earn in your first year if you have a Chase Business Checking account on your card anniversary (available on cards opened between March and November 2024)
Why we like it:
The Chase Ink Business Cash Credit Card has no annual fee like the PayPal Business Cash Card, but its generous welcome bonus sets it apart.
This card’s reward structure is slightly more complicated than the PayPal Business Cashback card, but redemptions are also more flexible. You can use your cash back for cash, travel through the Chase Ultimate Rewards portal, gift cards, and more.
- Annual fee$0
- Welcome offerEarn $750 bonus cash back after spending $6,000 in the first 3 months
- Card type(s)Business, Travel
- Introductory Purchases APR0% Intro APR on Purchases for 12 Months
- Ongoing Purchases APR17.99% - 23.99% Variable
- Recommended credit scoreGood, Excellent
- Rewards rate1.5% unlimited cash back on every business purchase
- Benefits
- $0 annual fee
- Generous intro APR on purchases
- You won't be held responsible for unauthorized charges made with your card or account information
Why we like it:
Fortunately, you don’t need to choose between a card with a welcome offer and one with simple rewards because the Ink Business Unlimited Credit Card has both.
And you won’t need to worry about tracking categories or rewards caps, either. You simply earn 1.5% unlimited cash back on all your business purchases, and you can redeem your rewards for cash, gift cards, travel through Chase Ultimate Rewards, and more. The Ink Business Unlimited Credit Card also has a $0 annual fee.
- Annual fee$0
- Welcome offerEarn a $250 statement credit after you make $3,000 in purchases on your card in your first 3 months
- Card type(s)Business, Cash-Back
- Introductory Purchases APR0% on purchases for 12 months from date of account opening
- Ongoing Purchases APR17.74% - 25.74% Variable
- Recommended credit scoreExcellent/Good
- Rewards rate
- 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%
- 1% cash back on all eligible purchases after spending $50,000 per calendar year (cash back earned is automatically credited to your statement)
- Benefits0% intro APR on purchases for 12 months from the date of account opening (then variable rate 17.74% - 25.74%, based on your creditworthiness and other factors as determined at the time of account opening; APRs will not exceed 29.99%)
Why we like it:
The American Express Blue Business Cash Card also has a $0 annual fee and a welcome offer with a fairly low minimum spend requirement. As a card member, you’ll also get 2% cash back on up to $50,000 worth of business purchases each calendar year, and 1% cash back after that (cash back is applied as a statement credit automatically; see rates and fees, terms apply.)
This article was edited by Rebecca McCracken
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
