$PYPL plus has just launched in the UK with their new debit card and now seems to be one of the best ‘cashback’ offers available for daily spending
Weary Centurion does a great job of talking through the app below but I want to dive into the numbers a bit more.
With the debit card Paypal+ gives you 10 points per £10 spent. 1000 points can be redeemed as £10 or basically 1% cashback - outside of special sign up offers I think this matches any top cashback cards in the UK. Chase do a 1% cashback debit card but capped at £15/month - this $PYPL one is not capped.
But it gets better since PayPal+ has tiers.
Get 25k points (spend £25k on debit card) and you get gold tier.
This gives the following:
- Turn 1000 points into £15 on groceries (1.5% cashback)
- 1000 points to £12 on everything else (1.2% cashback)
- 1000 points each month for spending £10 on the first Friday of the month which is equal to £10 cashback so basically 100% cashback.
- Up to £12.50/month cashback on subscriptions on top of the rest
There is one more tier - black. I cannot see how much you need to spend for this but imagine it’s quite a lot.
Black tier offers very good benefits:
- 1.3% cashback on everything
- 2000 points for £10 on first Friday (200% cashback)
- Up to £16.66/month subscription cashback
The big downside here seems to be you need to spend a lot to access the upper tiers. If you do it might work very well but I know Amex also do great cashback at that level of spending.
Overall though, great do UK consumers & great move by $PYPL to get people using them.
@theneedledrop The Game. Half way through he drank a litre of Ciroc and then was smashed for the second half. Also sang the hook for hate it or love it over and over for what felt like 10mins