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50,000 Spend $3,000 or more in the first 3 months
PayPal Rewards Credit Card
PayPal Rewards Credit Card

PayPal Credit Cards

PayPal Rewards Credit Card

Updated 16 September 2021

Earn 50,000 bonus points when you spend at least $3,000 on eligible purchases within 3 months from card approval. Save with no annual fee for the life of the card and get 0% p.a. on balance transfers for 20 months (balance transfer fee may be applicable, reverts to cash advance rate).

T&Cs apply. Offer ends 28 October 2021

Points Earn Rate (per $1 spent)

1 point

Uncapped rewards points

Rewards Program

PayPal Rewards

Bonus Points

50,000 pts

Spend $3,000 or more in the first 3 months

Pros and cons

  • Receive 50,000 bonus points when you spend $3,000 or more on eligible transactions
  • in the first 3 months from card approval
  • $0 annual credit card fee
  • 0% p.a. for 20 months on balance transfers. Reverts to cash advance rate
  • Earn 1 point for every $1 spent on eligible transactions (uncapped)
  • Spend points at 750,000+ eligible PayPal businesses and to pay for specific transactions
  • 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

  • Balance transfer reverts to a high Cash Advance rate of 21.74% p.a.

Creditcard.com.au review

Editor Review

PayPal Rewards Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. 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.

There’s a nice introductory offer available to anyone who signs up before 28 October 2021, with an extra 50,000 bonus points up for grabs if you spent $3000 or more in the first three months. That’s $250 to spend anywhere that accepts PayPal.

You can also add up to four additional cardholders at no extra costs, and instalment payment options are 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 transfer up to 80% of your credit limit to enjoy the 0% p.a. on balance transfers offer for 20 months (balance transfer fee may be applicable), and rewards points are uncapped, and there’s no annual fee.

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

    PayPal Rewards Credit Card ( based on 0 Creditcard.com.au user reviews )

    0% rating based on 0 reviews

    Rates
    Fees
    Rewards
    Customer Service
    Value

    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

    Balance transfer

    Balance transfer rate 0% p.a. for 20 months

    Balance transfer revert rate 21.74% p.a.

    Balance transfer from personal loan Yes

    Balance transfer fee No fee

    Balance transfer limit 80% of approved credit limit

    Banks you can't balance transfer from N/A

    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 50,000 points

    Annual points cap uncapped

    Bonus points spend criteria Spend $3,000 or more in the first 3 months

    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

    PayPal Rewards Credit Card

    Key features

    • Get up to 50,000 bonus points when you spend $3,000 or more on eligible transactions in the first 3 months from card approval
    • No annual fee for the life of the card
    • 0% p.a. for 20 months on balance transfers. Reverts to cash advance rate
    • Up to 55 days interest free period on purchases
    • Earn uncapped rewards - 1 point for every $1 spent on eligible transactions
    • Spend your rewards where you shop and to pay for eligible transactions
    • Add up to 4 additional cardholders at no cost
    • 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

    Roland B Bleyer

    Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

    Recently Asked Questions

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

    3 questions (showing the latest 10 Q&As)

    Linda

    Linda

    16 September 2021
    Can you redeem your points for cash with the paypal credit card
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      16 September 2021
      Hi Linda, sorry to be the bearer of bad news. PayPal Rewards points cannot be redeemed for cash. It can only be redeemed for purchases online at their eligible PayPal business where Pay with Rewards is offered. Check out a range of other rewards credit offers that allow you to redeem into points.
    Phillip Hawkes

    Phillip Hawkes

    9 September 2021
    Thanks for previous answer. For a Visa card which can earn airline points, which would have the lowest annual fee and/or an introductory bonus offer of points? Must be Visa rather than AMEX or Mastercard, as I have these already.
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      13 September 2021
      Hi again Philip, it’s nice to hear back from you and glad that we could help! Since you mentioned you are looking for a Visa, there are few on offer right now that have lower annual fees and bonus points. For example the St.George Amplify Platinum Credit Card Qantas card currently has up to 60,000 Qantas bonus points with a $99 annual fee, the ANZ Rewards Platinum Credit Card has 120,000 Bonus ANZ Points with a $0 first year annual fee. (These were correct at the time of reply) - If you sort our comparison tables by annual fee you’ll be able to see the cards with the lowest fee at the top. Let us know how you go!
    Phillip Hawkes

    Phillip Hawkes

    8 September 2021
    Can the PayPal Rewards points be used to transfer to a frequent flyer program such as Velocity, or others?
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      9 September 2021
      Hi Phillip, PayPal Rewards points can only be redeemed for purchases online at their eligible PayPal business where Pay with Rewards is offered. If you’d like to compare credit cards that earn Frequent Flyer points, we’ve got you covered!
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