Many people shop on EBay, but many people may not be aware that EBay also offers credit cards. There are two types of EBay MasterCard cards available. There is the EBay MasterCard Platinum card and the EBay Extras MasterCard card. The cards are administered through Synchrony Bank. When you apply for a credit card with EBay, Synchrony Bank will decide which card you qualify for based on your credit. The Platinum card has a higher interest rate and is not eligible for the Rewards program
The Extras MasterCard card includes several benefits and rewards. You earn 3x the points for gas and restaurant purchases. You receive 2x points on all EBay and PayPal purchases as well as some other retailers. You receive 1x points on all other MasterCard purchases. The points can be redeemed for gift cards such as Amazon and PayPal and for travel vouchers. With both EBay MasterCard cards you will receive $30 back as a statement credit if you open a new card and make a purchase by December 31, 2016. Accrued rewards points will expire if not redeemed within 24 months or if no purchases are made for 12 months. Several reviewers have noted that although the points system sounds appealing, it can take thousands of points to redeem even small rewards.
There is no annual fee for the credit card. The interest rate can be as low as 19.99% APR up to 23.99% APR. The interest rate can go higher than this if there are late payments. This is a fairly high rate, but it is consistent with department store credit cards. You need fair credit to apply for the EBay MasterCard with a credit score of at least 600. Many reviewers noted that this is a fairly easy credit card to get approved for. The interest rate and the credit line will be based on your credit history. This makes it a better card for those who are attempting to rebuild poor credit or do not have much credit history. The EBay Extra MasterCard will provide more rewards points to those who shop on EBay or use their PayPal card often. Those who have high credit scores and are looking for a card with great rewards will probably want to look elsewhere.