Ebay MasterCard Review

Earn triple points on gas and restaurants, two points at Ebay

Woman shopping online using credit card. © Jupiterimages / Getty Images

eBay shoppers may be attracted to the eBay MasterCard because of the $30 statement credit. While most signup bonuses require you to spend a certain amount of money during the initial period, you only have to make a single purchase to earn the $30 statement credit on the eBay MasterCard. Currently, the purchase must be made by March 31, 2016.

The eBay MasterCard is issued by Synchrony Bank (formerly GE Capital) who also issues the GapCard, Amazon card and a few other private label credit cards.

eBay MasterCard Rewards

The eBay MasterCard rewards your purchases with points you can redeem for purchases, gift cards, cash in a Paypal account in $50 increments. Earn 3 points per dollar on restaurant and gas purchases (at standalone gas stations only), 2 points per dollar on Paypal and eBay purchases, 1 point per dollar on everything else. You can only accumulate a maximum of 50,000 points in a year.

While the terms are clear on the points you can earn and what you can use them for - a plane ticket, hotel stay, Paypal credit, car rental, gift cards and certain vacation packages - what's not clear is the amount of points required for redemptions. According to the reward program terms, you have to call the card issuer if you want to know the number of points for redemptions. That makes it impossible to determine the value of the rewards and decide whether the rewards are actually worth it.

The $30 statement credit may not be applied to your account for two billing cycles which could be a deal breaker if you were hoping to use the credit to offset an eBay purchase right away.

Pricing

There's no annual fee on the eBay MasterCard. The purchases APR is 20.24% or 24.24% depending on the type of account.

The terms do not clearly explain the difference in accounts; it only specifies that only a limited number of applicants will be approved for Account Type 1, the account with the lower interest rate. The cash advance APR is 27.24% and the fee for cash advances is $5 or 3%. Foreign transactions are charged a fee of 3%.

From time to time, you may be offered special financing promotions allowing you to pay no interest for 6, 12, or 18 months. These interest-free promotions are deferred interest financing meaning you have to pay the balance in full before the end of the promotional period. Otherwise, the full amount of interest will be applied to your account.

Should You Get the eBay MasterCard?

It's hard to recommend this card without knowing what the points are worth. However, you have to earn $50 in rebates - without knowing how much spending you need to get there - before you can redeem your rewards. That's a pretty high threshold.

Edited by LaToya Irby. Credit card terms and sign-up bonuses are subject to change from the time of this review. Visit the credit card issuer's website for the most recent terms and conditions.

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