You can get a PayPal credit card by applying for one online, but you need at least good credit to qualify for approval. There are actually two different PayPal credit cards, one that rewards you with points and one that gives cash back. The PayPal Credit Card offers 3 points / $1 on gas and restaurant purchases, 2 points / $1 on PayPal and eBay purchases, and 1 point / $1 on everything else. The PayPal CashBack Credit Card gives you 2% cash back on all purchases. You'll probably need a 700+ credit score to have good approval odds for either card. And Synchrony, their issuer, will also consider your income, debt, number of open accounts and various other factors when considering you.
But you don't need a PayPal credit card to use a credit card on PayPal. You might benefit more from a card like the Capital One Venture Rewards Credit Card, which has a huge initial bonus. Plus, neither of PayPal's credit cards offer a 0% introductory APR, so they're not ideal for financing. You're better off with the likes of the HSBC Gold Credit Card, which offers 0% intro on purchases for 18 months, for that.
Here's how to get a PayPal credit card:
- Compare the PayPal Credit Card and the PayPal CashBack Credit Card to determine which is better for you. If you like one of them, click “Learn More” to get a more detailed description.
- Check your latest credit score. Remember, you'll need at least good credit (700+) and a steady income to be approved for either PayPal-branded credit card.
- Consider whether another type of credit card would save you more money than your favorite PayPal credit card.
- Click “Apply Now” once you choose a card. You can do so from a credit card comparison website or PayPal's credit card page.
- If you're applying for a PayPal card, log into your PayPal account to access the application.
- Fill out and submit the application, making sure all your personal information is correct.
- Wait for a decision. You could be approved instantly, or it might take another 1-2 weeks.
If you want a credit card for PayPal more than a PayPal Credit Card, the Citi® Double Cash Card – 18 month BT offer is another good option to consider. It gives you 2% cash back (1% when you buy and 1% when you pay Citi) on all purchases and also offers a balance transfer intro APR of 0% for 18 months. The Capital One Venture gives 2 miles per $1 on all purchases and has a generous initial bonus.
All in all, the PayPal branded cards have very decent rewards. But the top rewards cards on the market can give you much more.