(EXPIRED) PayPal Business Debit Mastercard: Earn 2% Cashback On All Purchases Through 1/31/21

The Deal

• Earn 2% cashback on all purchases on the PayPal Business Debit Mastercard.
• Direct link to offer.

Key Terms

• Expires January 31, 2021.
• 1% cash back on all purchases cash back offer valid from 12 03 2020, through 01 31 2021.
• Valid only on a chip-enabled PayPal Business Debit Mastercard.
• Cash back offer does not apply to secondary cards.
• The PayPal account must be in good standing through the reward deposit.
• Transactions eligible for bonus cash back include: credit transactions which you sign for and which are processed by Mastercard; online transactions processed by Mastercard; purchases processed via a debit network (including PIN-less debit transactions); and phone transactions processed by Mastercard.
• Transactions that are not eligible for bonus cash back include, but are not limited to: cash withdrawals, cash advances, and the cash-back portion of any point-of-sale purchase.
• Bonus cash back will be added to the PayPal account associated with the PayPal Business Debit Card that completed the eligible transaction(s) within a week of qualifying purchase settlement.
• PayPal reserves the right to cancel, suspend, or modify this promotion in part or in its entirety at any time without notice, for any reason at its sole discretion.

Tips & Ideas

The PayPal Business Debit Mastercard ordinarily offers 1% cashback on all purchases, so this promotion through the end of January offers an additional 1% cashback. You don’t have to register or opt in for this offer – you’re automatically enrolled.

What’s nice about this offer is that their last 2% promotion offered that higher rate on every $1,000 spent, so if you spent $999 then you’d only earn 1% on that portion. This 2% offer on the other hand awards 2% on all purchases. Getting 2% cashback on a debit card is an excellent offer seeing as some cashback credit cards don’t even offer a rate that high.

From a gift card perspective, this can be useful when buying gift cards in the Ibotta app. They made a change about 6 months ago from accepting payment by credit card to only accepting debit cards. Some rewards-earning debit cards are excluded (I think Discover is on that excluded list), but the PayPal Business Debit Mastercard is an exception. Earning 2% cashback on this card therefore makes up for the fact that you can’t directly pay with a credit card for gift cards from Ibotta.