PayPal to Launch Zero Annual Fee Rewards Credit Card in Australia

end user on 09/06/2021 - 15:47
Last edited 23/07/2021 - 12:19 by 1 other user
  • PayPal is set to launch its first ever credit card in Australia, the PayPal Rewards Card, from mid-July 2021
  • The PayPal Rewards Card will have zero annual fees and a flexible rewards program
  • Rewards points don’t expire, and will be redeemable at over 750,000 PayPal businesses globally including over 300,000 businesses in Australia[ii]
  • The card can be used anywhere Visa is accepted globally and earns points with every eligible purchase.

Press Release

I'm keen to see what the rewards and redemption values are.

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Comments

  • beeawwb on 09/06/2021 - 15:55
    +4

    I'm keen to see what the rewards and redemption values are.

    The current going rate has something like three deciduous forests buying one ship's peanut.

    • EightImmortals on 09/06/2021 - 15:57
      +2

      hahahaha QFT! :)

    • burningrage on 09/06/2021 - 19:25

      I learned a new word "Deciduous" today!

  • EightImmortals on 09/06/2021 - 15:57
    +2

    No mention there of international transaction fees?

  • Big Lenny on 09/06/2021 - 16:03
    +1

    looking forward to this

  • Neoika on 09/06/2021 - 16:07
    +3

    The PayPal Rewards Card will be issued by Citigroup Pty Ltd.

    As I guess, another Kogan CC. Reward wont be better than 0.5% rebate.

  • GoblinKing on 09/06/2021 - 16:07

    Hey guys, I'm an idiot when it comes to this stuff.
    Never had a credit card before either.

    Can someone explain to me in simple terms the pros and cons?

    • theoracle30 on 09/06/2021 - 16:13

      Pros: earn reward points on everyday transactions. Sometimes there are good sign-up bonuses
      Cons: as with all credit cards, aim to pay the full balance off monthly to avoid any interest or late fees. Sometimes there is an annual fee (though not in this case).

      If done correctly, you can benefit from rewards programs without incurring any unnecessary costs.

    • ESEMCE on 09/06/2021 - 16:15

      Pros:
      Pay no Annual Fee for the card
      Pay no interest provided you pay off the monthly balance in time.
      Maybe earn enough points to score a scrappy freebie once per year.

      Cons:
      Pay whopping Interest Rate if you forget to pay down the monthly balance in time
      Potentially less rewards than you'd get from another card that you pay an annual fee for
      All rewards cards screw over the businesses that you shop with by taking a larger cut of the spend.

      • qazwsx on 09/06/2021 - 20:55

        "All rewards cards screw over the businesses that you shop with by taking a larger cut of the spend."

        Since the RBA started regulating the merchant fees, hardly - these days credit card merchant fees are <1%, unless they fall outside of the regulations (e.g. overseas-issued cards). This statement presupposes that handling cash is costless. Besides the merchant has the right to pass on these costs to you.

        If you want to see who is sucking on the merchant fees these days, have a look at those BNPL darlings like afterpay. They fall outside the RBA regulations that apply to credit cards, so charge whatever merchant fees they want plus their agreements ban the merchants from passing these costs on to consumers.

    • Ryanek on 09/06/2021 - 16:17

      It can improve you credit rating. Just be responsible and don't treat it like another bank account.

  • scotty on 09/06/2021 - 16:29
    +7

    I just wish they can bring the PayPal debit card here, so you can spend your PayPal fund in places that do not accept PayPal. Currently only available in the US I think.

  • pharkurnell on 09/06/2021 - 16:52

    Be good until Ebay take them under their wing again and all will turn to shit.

  • Jimothy Wongingtons on 09/06/2021 - 17:01

    I just want a credit card with price protection in case one day I actually do hit the limits for claims on my 28 degree

    • jimbobaus on 09/06/2021 - 21:24

      28 degrees doesn’t even offer it anymore.
      Price protection is a long gone feature no one will offer anymore.

  • Baysew on 09/06/2021 - 17:25
    +9

    PayPay Credit Card Fee - Zero
    PayPal Credit Card charge back to PayPal where PayPal has decided against you - Priceless

  • burningrage on 09/06/2021 - 19:26

    Isn't it strange Citibank is moving over to Mastercard yet this one is using Visa?

  • burningrage on 09/06/2021 - 19:30

    On another thought, please let it not Paypal who is going to acquire Citibank's Credit Card business!!!

  • jimbobaus on 09/06/2021 - 21:23
    +3

    Citigroup?
    Aren’t they exiting the Australian market?

  • T-man on 10/06/2021 - 22:23

    It maybe similar the US version:
    https://www.paypal.com/us/webapps/mpp/credit-card

  • rickb on 06/07/2021 - 11:14
    +1

    Looks like the card has launched. PayPal are going to charge a 3.4% international transaction fee.

    https://www.paypal.com/au/webapps/mpp/rewardscard-50klauncho…

    Nothing here that attracts me to the card.

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