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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 28 October 2021

Earn 50,000 bonus points when you spend at least $3,000 on eligible purchases within 3 months from card approval. That's worth $250 to spend at over 750,000 eligible PayPal businesses. 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 20 January 2022

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

  • 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. Points equivalent to $250 worth of eligible purchases at over 750,000 PayPal businesses
  • $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)
  • 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

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.

There’s a nice introductory offer available to anyone who signs up before 20 January 2022, 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 3 Creditcard.com.au user reviews )

    29% rating based on 3 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. Points equivalent to $250 worth of eligible purchases at over 750,000 PayPal businesses
    • 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

    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 a our credit card expert a question.

    11 questions (showing the latest 10 Q&As)

    Meg

    Meg

    4 November 2021
    Hi there, I’m just wondering if the PayPal Rewards credit card charges BPAY payments as a purchase or a cash advance? There does not currently seem to be a function to be able to process BPAY payments or add billers etc from the credit cards online service centre at all. Is there a work around for this issue? Thank you
      Pauline - CreditCard.com.au

      Pauline

      5 November 2021
      Hi Meg, we dug into the PayPal T&C’s and it wasn’t very clear on what an “eligible transaction” is. Their official site says that you can make BPAY from the card. However they don’t explicitly say whether it's at the purchase or cash advance interest rate. You could call PayPal directly on 1800 054 378 to get more information on this. Let us know if you find out and we’ll update our review. Alternatively, we’ve written a guide on how you can make BPAY payments from your card that might help.
    Nola Kirkness

    Nola Kirkness

    17 October 2021
    I am not sure if this is an australian website, if not,. do all the answers to the questions here, apply to australia as well.
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      18 October 2021
      Hi Nola, yes this is an Australian website.
    Margaret Wilkins

    Margaret Wilkins

    6 October 2021
    Can your Pay Pal rewards be spent on Homewares electronics and gift cards
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      7 October 2021
      Hi Margaret, to redeem your Paypal rewards you’ll need to find a retailer that offers the “pay with rewards” feature. Luckily there’s over three quarters of a million online. Paypal has an extensive list on their website, where you can filter by business type. You can check it out over here.
    Margaret Wilkins

    Margaret Wilkins

    6 October 2021
    Can a Pay Pal credit card be used in all business transactions e.g. supermarkets and general stores
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      6 October 2021
      Hi Margaret, yes! As outlined in PayPal’s T&Cs, yes you can use it for your daily purchases such as groceries. Let us know if you decide to get the Paypal Card and leave a review.
    Barry Gower

    Barry Gower

    5 October 2021
    I have had a new visa card issued but I need to change the last numbers on the card as I have money sent to various companies through paypal.
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      6 October 2021
      Hi Barry, I suggest reaching out to PayPal directly to update your details.
    David Boyd

    David Boyd

    30 September 2021
    billing cycle ?
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      1 October 2021
      Hi David, after digging into this for you we found that the billing cycle ends at the end of the month. You’ll get 55 days interest free on all eligible purchases and your account will need to repaid in full each month. I hope this has answered your question.
    Linda

    Linda

    29 September 2021
    Can you please tell me what the maximum credit is. We currently have a maximum of $30000 with another Credit card company. If we changed to Paypal what could we expect to be given. THank you
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      1 October 2021
      Hi Linda, the maximum credit limit you will be approved for actually depends on several factors like your annual income, credit score, capability to pay, etc. Paypal keep the maximum credit limit under wraps. Black credit cards have a tendency to have a higher credit limit and could be worth investigating and comparing. Let us know if we can help in any other way
    Jose Abraham

    Jose Abraham

    29 September 2021
    hi , can i use this card to pay bills like roof restoration and solar panel installation or is it use full only for the business in your list I have a paypal account for a long time
      Roland B Bleyer - CreditCard.com.au Founder

      Roland

      1 October 2021
      Hi Jose, without knowing the specifics of the businesses you are dealing with, I can only point you in the direction of our guide to earning points and rewards with BPAY. Let us know how you go or if you need more information. Thanks!
    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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