Paypal is updating their 2% Mastercard to now have the additional benefit of earning 3% when paying with Paypal, whether you pay online, on mobile, or in-store with PayPal QR Code where eligible. The card will earn 2% everywhere else.
They are also adding an update where the cashback is available daily, without the need to wait for statement close. These upgrades will be automatically valid for existing cardholders as well when it goes live.
They are also adding a signup bonus for new customers to get $100 after $500 spend.
These are amazing new benefits, this feels like an attempt to compete with Apple card. It’s pretty incredible that Paypal will now have what’s probably the single best card for most people who aren’t ready to play the category/transfer game. The downer is that the card now has foreign transaction fees, but still an excellent card for U.S.