PayPal launches debit card that earns 5 percent back on one category
PayPal, the digital payments company, just launched a new debit card.
The short version
- Cardholders can earn 5 percent cash back on one category.
- The limit is 1,000 dollars per month in spending.
- The card is currently available by invite only.
- Check your PayPal account to see if you are eligible.
Check your digital wallet this week. PayPal, the digital payments company, just launched a new debit card that pays 5 percent cash back on a category of your choosing. According to Doctor of Credit, the card carries a monthly spending limit of 1,000 dollars on that top category.
The catch is that the card is currently rolling out in invite-only mode. Users have reported seeing categories like groceries and tech rotating in for selection, though availability changes. You will need to log into your PayPal account directly to check your eligibility for the new card.
For a household spending hundreds on groceries each month, picking the right category could mean a handy chunk of change back in your pocket. At least PayPal is finally paying you to spend your own money.
