Does the PayPal Cashback Mastercard have an annual fee?

No. Our record lists a $0 annual fee for the PayPal Cashback Mastercard.

What does the PayPal Cashback Mastercard earn?

3% on PayPal Checkout, and 1.5% on other purchases.

Is the PayPal Cashback Mastercard worth it in the first year?

Using our illustration ($12,000 of yearly spending, $3,000 of it in PayPal Checkout), the first year comes out around $225 before credits, including a welcome bonus valued at $0. Year two drops to about $225 before credits.

What credit do I need for the PayPal Cashback Mastercard?

Our record lists "Good to Excellent" credit as the typical target for the PayPal Cashback Mastercard. Synchrony makes the final decision based on its own criteria.

PayPal Cashback Mastercard®

Synchrony

No Annual Fee

Annual Fee

mastercardGood → Excellentcash-backno-annual-fee17 days ago

Welcome Offer

No Welcome Offer

OpenCard analysis

Is the PayPal Cashback Mastercard right for you?

The PayPal Cashback Mastercard is a no-annual-fee cash-back card from Synchrony. Its strongest everyday earning is 3% on PayPal Checkout, with 1.5% on most other purchases. With no fee, the question is simply whether 3% on PayPal Checkout beats what your current card earns there.

Who it's for

✓ People who spend steadily on PayPal Checkout, where it earns 3%
✓ Anyone who wants PayPal Checkout rewards without paying an annual fee

First-year value estimate

Welcome bonus

Rewards on spending

$225

Annual fee (year 1)

−$0

Year 1, before credits

$225

Year two, without the welcome bonus: about $225 before credits ($225 in rewards minus the $0 fee).

Assumptions

$3,000 a year in PayPal Checkout (3%) and $9,000 on everything else (1.5%) — $12,000 total, about $1,000 a month.
Rewards valued at 1¢ per point or 1% cash back (cash-equivalent).
No welcome bonus is listed in our record, so none is counted.
No annual fee in any year.

An illustration, not a promise of value. Change the spending to match yours; rewards are not cash until redeemed. Card data reviewed 2026-10-02.

How it compares

Blue Cash Everyday →

American Express, same $0 annual fee; earns 3% on gas.

AARP Essential Rewards Mastercard from Barclays →

Barclays, same $0 annual fee; earns 3% on gas stations and drugstores.

Athleta Encore Mastercard →

Barclays, same $0 annual fee; earns 5% on Gap Inc. brands (Athleta, Gap, Banana Republic, Old Navy).

Compare side by side →

Frequently asked questions

Does the PayPal Cashback Mastercard have an annual fee?: No. Our record lists a $0 annual fee for the PayPal Cashback Mastercard.
What does the PayPal Cashback Mastercard earn?: 3% on PayPal Checkout, and 1.5% on other purchases.
Is the PayPal Cashback Mastercard worth it in the first year?: Using our illustration ($12,000 of yearly spending, $3,000 of it in PayPal Checkout), the first year comes out around $225 before credits, including a welcome bonus valued at $0. Year two drops to about $225 before credits.
What credit do I need for the PayPal Cashback Mastercard?: Our record lists "Good to Excellent" credit as the typical target for the PayPal Cashback Mastercard. Synchrony makes the final decision based on its own criteria.

Earning Rates

3×PayPal Checkout3% cash back when checking out with PayPal

1.5×All other purchases1.5% cash back on all other purchases everywhere Mastercard is accepted

Other Benefits

Mastercard benefits

Standard Mastercard benefits including fraud protection and purchase security

PayPal integration

Seamless integration with PayPal balance and checkout

Insurance

Rental InsuranceSecondary

Purchase Protection

Extended Warranty

Sources

Last Updated: Oct 2, 2026