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Discontinued: PayPal Rewards Credit Card
Discontinued: PayPal Rewards Credit Card

PayPal Credit Cards

Discontinued: PayPal Rewards Credit Card

Updated 6 December 2022

This card is no longer available for application. This information has been left for those who still have the card or were previously interested

Save with a $0 annual fee card. Earn 1 point for every dollar spent on eligible transactions, uncapped which you can spend at over 750,000 eligible PayPal businesses. Add up to four additional cardholders for free.
T&Cs apply.

Points Earn Rate (per $1 spent)

1 point

Uncapped rewards points

Rewards Program

PayPal Rewards

Bonus Points

N/A

Pros and cons

  • $0 annual credit card fee
  • Earn 1 point for every $1 spent on eligible transactions (uncapped)
  • Pay off your purchases in monthly repayments over a set term
  • Up to 55 days interest free period
  • Up to 4 additional cardholders at no cost
  • Cover against fraudulent charges or unauthorised purchases

  • Relatively high purchase rate of 20.99% p.a.
  • Points can only be spent at PayPal businesses
  • No bonus points offer

Creditcard.com.au review

Editor Review

Discontinued: PayPal Rewards Credit Card

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

PayPal Rewards Credit Card

The PayPal Rewards card was launched to allow the cardholders to earn rewards and enjoy other perks at the same time.

What we love...

Let’s face it, PayPal is becoming an increasingly standard way to pay, with growing numbers of merchants offering PayPal as a payment option.

So, rewards that translate to PayPal dollars is going to benefit most people, regardless of demographic.

You’ll earn 1 point for every dollar spent on eligible transactions, with 2000 points equalling $10, if you use it at check out. If you apply it to an eligible transaction within your PayPal account at a later date, that figure will reduce to $7.

You can add up to four additional cardholders at no extra cost, and instalment payment options are also available.

What’s not so great...

If you’re looking for a card that offers an array of reward redemption options, then this isn’t the card for you.

The interest rate on retail purchases isn’t the lowest on the market, at 20.99% p.a.

Why should you choose this card?

If you’re a PayPal user, looking for a simple card that offers straightforward rewards, and no annual fee – then the PayPal Rewards Card is a good option.

You’re essentially swapping points for cash that you can use to purchase items from any merchant that supports PayPal – these days, that’s the majority.

You can earn uncapped reward points plus, there’s no annual fee to worry about.

How does the PayPal Rewards Credit Card work?

So, what do we know about the PayPal credit card?

  • No annual fee. Earn rewards on your everyday spending, without paying any fees.
  • Variable purchase rate of 20.99% p.a. Just like most other rewards cards, its high purchase rate will mean carrying a balance is not recommended.
  • Earn 1 point per $1. Redeem points for eligible purchases when checking out with PayPal online, or pay down recent purchases made on the card. Redeem their points at more than 750,000 businesses around the world, including over 300,000 in Australia.
  • Uncapped rewards. Earn as many points as your spending allows.
  • No points expiry. Take time to build your balance to redeem points for rewards you really want – without worrying about their points expiring.
  • Instant use. As soon as your card is approved, it will be instantly available for use via the PayPal digital wallet. The physical card will then be sent out in the post.
  • Use anywhere Visa is accepted, online and in person. Purchases will also be covered by Visa’s Zero Liability policy, meaning you won’t be held responsible for unauthorised charges made with your card if it were lost, stolen or fraudulently used.
  • PayPal app integration. It offers convenient account management and tracking. You’ll be able to track your spending and rewards points balance in the PayPal app.
  • It will be issued by Citi. This means PayPal will not need to secure its own licence to lend money in Australia. In case you were wondering, PayPal has said Citi’s decision to sell its consumer banking business in Australia would not affect how the PayPal Rewards Card will operate.
  •  

    Overall Rating

    A straightforward rewards card, and a good option for someone venturing into the world of rewards for the first time.

    User reviews

    Discontinued: PayPal Rewards Credit Card ( based on 15 Creditcard.com.au user reviews )

    42% rating based on 15 reviews

    Rates
    Fees
    Rewards
    Customer Service
    Value
    61%

    Tu Meke

    20 July 2022

    Hi, I have had this card for ten months now and tried to get a credit increase from $7500 to $11000. Can only be done online and gave them all the info they asked for; short story is i am single have a full time job on wages in a Government Hospital make $100k plus a year, own my on home, have an investment property, house, nearly paid off in Melbourne. No other credit cards, own my cars and no bills expect for normal living, gas, electricity, ect. Meaning i have a conservative $2.5 million in assets, 1/2 $mil in super and have a mortgage of less then $35,000 to repay on my investment which is rented with full history, have never been in default or not paid a bill as it is all auto pay via credit card. No bad credit history ever, I should pay my mortgage in less than a year going on my pass bank statement history. But Guess What, I am not eligible for an increase... if im not who is, maybe Bill Gates, Elon Musk size bank accounts... so how can the average Aussie compete with that, they have said come back in 6 months and try again, REALLY.... its Tough Being Poor Like Me ..

    Recommends this card
    94%

    MARKHARD

    6 July 2022

    BEST CREDIT CARD FOR ME AS I AM 50+ AND DON'T WANT FANCY FRILLS AND LIKE NO ANNUAL FEES. REWARD POINTS SYSTEM BETTER THAN/EASIER TO USE THAN MY CITY BANK CREDIT CARD. IF YOU WANT A INTERNATIONAL HIGH FLYERS CREDIT CARD JUST GET ANOTHER ONE FOR THAT INSTEAD OF COMPLAINING LIKE I DID. ONLY ISSUE I HAVE IS CUSTOMER SERVICE IS MOSTLY ONLINE LIKE EVERY THING ELSE THIS DAYS.....BEST CARD I EVER HAD

    Recommends this card
    69%

    JulieC

    6 June 2022

    I have had a PP rewards cards for just on a year now and although its handy enough to use - there is no way i can check my statement until it is issued at the end of the month

    Does not recommend this card
    0%

    Josh

    4 March 2022

    A great credit card for use in Australia. International fees are high.

    Recommends this card
    70%

    Skwai

    16 February 2022

    Quick approval which is good. App is annoying to use: it redirects you to a Citi bank website rather than using the actual PayPal app. Didn't realise it was missing Apple Pay until after I applied. No annual fee but the lack of travel insurance makes it arguably not worth it. International transaction fees are very high (3.4%) when many banks are offering 0%. Had I realised these negatives before I applied I wouldn't have got this credit card.

    Does not recommend this card

    Rates and fees

    Interest rates



    Purchase rate 20.99% p.a.

    Cash advance rate 21.74% p.a.

    Interest free period on purchases up to 55 days

    Credit limits

    Minimum credit limit $4,000

    Maximum credit limit N/A

    Fees & repayments

    Annual fee $0 p.a.

    Additional cardholder fee $0 p.a.

    Foreign transaction fee 3.4%

    Minimum repayment 2% or $30, whichever is greater

    Cash advance fee $3.50 or 3.5% whichever is greater (domestic) ; $5.00 (international)

    Late payment fee $30

    Rewards and points

    Rewards program

    Rewards Program PayPal Rewards PayPal Rewards

    Bonus points N/A

    Annual points cap uncapped

    Bonus points spend criteria N/A

    Earning points with this card

    Rewards points 1 point per $1 spent

    Points cap per month Uncapped rewards points

    Overseas earn rate same as standard earn rate

    Additional features

    Complimentary insurance

    International Travel Insurance No

    Flight Inconvenience Insurance No

    Transit Accident Insurance No

    Smartphone Screen Insurance No

    Purchase Protection Insurance No

    Extended Warranty Insurance No

    Rental Vehicle Excess In Australia Insurance No

    Overview

    Discontinued: PayPal Rewards Credit Card

    Key features

    • No annual fee for the life of the card
    • Up to 55 days interest free period on purchases
    • Earn uncapped rewards - 1 point for every $1 spent on eligible transactions
    • Add up to 4 additional cardholders at no cost
    • Spend your rewards where you shop and to pay for eligible transactions
    • Instalment options
    • Visa Zero Liability

    Minimum criteria to apply for this card

    • Be over 18 years old

    • Good Credit and have not applied for multiple credit cards recently

    • You must be a permanent Australian resident.

    • Minimum income of $35,000 p.a.

    • You have your personal details ready to complete the online application

    Pauline

    Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

    Recently Asked Questions

    Something you need to know about this card? Ask our credit card expert a question.

    22 questions (showing the latest 10 Q&As)

    Kyle

    Kyle

    2 June 2024
    hi my name is kyle how do I apply for are paypal credit card
      Pauline - CreditCard.com.au

      Pauline

      7 June 2024
      Hi Kyle, the PayPal Rewards card is no longer available. However, you can explore other rewards cards and find one that suits your needs best.
    Jignesh

    Jignesh

    9 November 2022
    Hi If i want to close the citi rewards car ( Formally Pay Pal Card). Can I get the refund on my over credit amount in my card. E.g credit card limit $30000 and current balance is $32997.
      Pauline - CreditCard.com.au

      Pauline

      10 November 2022
      Hi Jignesh, some banks like Westpac have this information clearly on their site, but it looks like Citi wants you to call to discuss this matter. Give them a ring on 132484 to discuss your positive balance. If you have a Citi Rewards Points balance, make sure you redeem your points or sadly you’ll lose them.

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