PayPal Extras Mastercard Review

Disclosure: We are committed to recommending the best products for our readers. We may receive compensation when you click on links to products, but this never affects our reviews or recommendations .

The PayPal Extras Mastercard offers a decent rewards rate when you’re at the gas pump or dining out, but the points you’ll earn may not be worth much and are tricky to use. If you’re an avid user of PayPal (you must have an account to apply), the PayPal Cash Back Mastercard may be a better alternative. 

PayPal Extras Mastercard®

overall rating
2.6
PayPal Extras Mastercard®
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 21.49% - 28.49% variable
Annual Fee $0
Rewards Earning Rate Earn 3 points per $1 on gas and restaurant purchases, 2 points per $1 on PayPal and eBay purchases, and 1 point per $1 on all other purchases.
Foreign transaction fee (%) 3%
Ratings Breakdown
for Interest
2.0
for Fees
1.8
for Rewards
4.1
for Credit
2.2

Who Is This Credit Card Best For?

  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain See more cards
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need See more cards
    Savvy Saver

The PayPal Extras Mastercard is one of two credit card options exclusively for Paypal customers with good credit, and it’s by far the less flexible. (The PayPal Cash Back Mastercard offers a very competitive 2% cash back on all purchases, and redeeming rewards is not nearly as complicated.) 

Still, if you tend to eat out and spend a lot of time on the road, the PayPal Extras Mastercard could be the better choice. Earning 3 points per $1 spent on gas and restaurant purchases is better than 2% cash back in those categories, assuming the points are worth more than 0.67 cents each when you redeem them. The problem is PayPal doesn’t make it easy to figure out point values. When you redeem your points for cash, you get 0.83 cents per point, but the value for other redemption options is less clear. (More on this below.)

Pros
  • Decent rewards rate on gas and restaurants

Cons
  • Low redemption value

  • Redemption hurdles

  • No sign-up bonus

  • High APR

Pros Explained

  • Decent rewards rate on gas and restaurants: The chance to earn 3 points per $1 on gas and restaurant purchases isn’t the highest rewards rate you’ll find, but it’s as good or better than many. 

Cons Explained

  • Low redemption value for cash: A good earnings rate only matters if the rewards have a good value. If you redeem your points for cash into your PayPal account, you’ll only get 0.83 cents per point—less than the standard 1 cent sought by rewards chasers. And PayPal doesn’t disclose other redemption values until you get the card, so we can’t say whether you’ll get a good deal by using your points to book travel or buy gift cards. 
  • Redemption hurdles: If you want the ability to redeem you rewards at any time and for any amount, you’ll have to look elsewhere. You’re restricted to specific redemption tiers and payout options.
  • No sign-up bonus: Many rewards credit cards attract new customers with a lucrative sign-up bonus, but the PayPal Extras Mastercard doesn’t provide that incentive.
  • High interest rate: The high end of the variable APR range—28.49%—is well above the average for rewards cards. Even the most creditworthy applicants can only hope to qualify for a 21.49% variable APR.

Earning Points & Rewards

The PayPal Extras Mastercard offers 3 points per $1 spent on gas and restaurant purchases, 2 points per $1 spent via PayPal and eBay, and 1 point per $1 spent on everything else. While these earning rates aren’t bad, taking into account redemption values gives a more complete picture.

Redeeming Rewards

Redeeming the rewards you’ve earned isn’t as simple as it is with the PayPal Cash Back Mastercard, and you’ll get a meager 0.83 cents for each point if you use them like cash. Even worse, you have to have a certain number of points before you can use them. To redeem for $50 credited into your PayPal balance, you must have 6,000 points. 

Other redemption options also apparently require certain thresholds to be met, though the numbers are relatively meaningless without knowing what you can get for them (and a PayPal spokesperson didn’t respond to our inquiries). Once you have your card, you must call PayPal or log into your account online to obtain the number of reward points required for a particular award. 

The information advertised on the card’s website is limited to:

  • 800 points for gift cards for restaurants, gas, retail and more.
  • 3,000 points for merchandise including housewares, electronics, and sports equipment
  • 15,000 points for a travel voucher for future airfare, hotel, or car rental

Keep in mind, too, that you must have an active PayPal account linked to your credit card. To add your rewards to your PayPal balance—which can be used to send money to friends or make purchases—you’ll need a PayPal Cash or PayPal Cash Plus account. If you have a personal PayPal account, your only option is to transfer your rewards to a linked bank account or debit card.

One other drawback: Unused points expire 24 months after they were first accrued.

Earning 2 points per $1 on PayPal and eBay purchases may seem like a decent rewards rate, but you may get more value for the same purchases with the PayPal Cash Back Mastercard. If you redeem your rewards for cash, you’ll get the equivalent of 1.66 cents for every $1 spent on the Extras card, versus 2 cents for every $1 spent on the Cash Back card.

How to Get the Most Out of This Card

Since the gas and restaurant rewards are the main selling point, make sure you pull this card out of your wallet every time you eat out or are filling up at the pump. And your points don’t last forever, so don’t wait too long to redeem them.

If you want to redeem your rewards for travel, be aware of a few restrictions. You must book at least 21 days before you travel. With airfare, a Saturday night stay may be required, stopovers of more than four hours are not allowed, and you must complete your travel within 30 days of your original departure. 

In addition, use another credit card when you’re making purchases in foreign currencies since the card charges 3% of the purchase amount as a foreign transaction fee.  

Customer Experience

Synchrony Bank, the issuer of the PayPal Extras Mastercard, ranks below average in J.D. Power’s 2019 customer satisfaction survey, scoring 780 out of 1,000 among national credit card companies. Some of the worst marks were in categories related to interaction, benefits, and key moments.

You’ll have plenty of access to customer service, however. You can call the service center 24/7 or use the live online chat function 9 a.m. to 9:30 p.m. Eastern Time 7 days a week. And there's a PayPal mobile app you can use to spend or transfer cash rewards redeemed to your PayPal account.  

Security Features

The PayPal Extras Mastercard comes with identity theft protection if you enroll in the service. You’ll get 24/7 monitoring of suspicious online activity and can even ask that specific domain names be checked regularly. Plus, you’ll get help with disputes so you’re not held responsible for fraudulent transactions.

Fees

Besides the foreign transaction fee of 3% and hefty APR, the fees on the PayPal Extras Mastercard are in line with the rest of the industry. Like many cards in the rewards category, there is no annual fee. 

Next Steps
For PayPal Extras Mastercard®
Compare This Card
See how this card stacks up to the competition
CURRENT CARD
PayPal Extras Mastercard®
overall rating
2.6
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 21.49% - 28.49% variable
Annual Fee $0
Rewards Earning Rate Earn 3 points per $1 on gas and restaurant purchases, 2 points per $1 on PayPal and eBay purchases, and 1 point per $1 on all other purchases.
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.