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eBay Credit Card Review: Great Rewards, but Is It Right for You?

eBay Extras Mastercard
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eBay Credit Card Review: Great Rewards, but Is It Right for You?

Great rewards, particularly on gas and restaurant purchases, but you'll want to read the fine print.
Editor's Rating: 3.5/5.0
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Editor's Rating

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3.5/5.0

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

Find the Best Credit Card for You

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The eBay Extras Mastercard can be a great no-annual-fee card for people who spend heavily on gas and dining purchases. However, even then, prospective applicants should be aware of the eBay Extras Mastercard's rewards cap, a restrictive feature that isn't present in many competing cards. Ultimately, the eBay Extras Mastercard is a decent card that offers high rewards rates in certain categories. While it definitely isn't the best rewards card, it can certainly be valuable to some.

Quick Take-Aways

  • The card offers a market-leading rewards rate on purchases made at gas stations and restaurants.
  • The sign-up bonus is unimpressive.
  • It's bad choice for high-spenders due to the rewards cap.

eBay Extras Mastercard Review: Solid Rewards in Some Categories, but Note the Restrictions

The eBay Extras Mastercard offers an excellent 2.5% rewards rate at gas stations and restaurants and a decent 1.67% rewards rate on eBay and PayPal purchases. However, the card is held back by its meager 0.83% rewards rate on everyday purchases, like those made at grocery stores and for transportation. Furthermore, cardholders are limited to 50,000 rewards points per year, meaning that the most cash back you can earn in one year is $400. While this isn't abismal, heavy spenders will be better off with an unlimited cash-back card, like the Citi® Double Cash Card or the Chase Freedom Unlimited®.

The sign-up bonus of $30, paid after you make your first purchase, isn't exactly a point of redemption for the eBay Extras Mastercard, but it's nice to have. To its credit, certain competing cards, like the Citi® Double Cash Card, don't currently offer a sign-up bonus.

The eBay Extras Mastercard can be a great card for people who spend a lot of money in the card's bonus categories, namely restaurants and gas. Surprisingly, the eBay-branded card is simply OK when it comes to rewards earned for eBay purchases. One of the card's positives is that is doesn't come with an annual fee, meaning it can be used in concert with another card to maximize rewards.

Bottom Line: Overall, the eBay Extras Mastercard is a middle-of-the-road card. Other competing cards have higher sign-up bonuses and no earning caps. However, if you're not a heavy spender, you dine out a lot and you have a gas guzzler, this card is a good choice.

eBay Extras Mastercard Benefits and Features

The eBay Extras Mastercard is a no-annual-fee card that earns you rewards points for every purchase you make. You must have a PayPal account to apply for the card. Cardholders can earn 3 points per dollar spent on gas and restaurant purchases, 2 points per dollar spent on PayPal and eBay purchases, and 1 point per dollar spent on all other purchases. Currently, cardholders can earn $30 back as a statement credit when they open an account and make a purchase before June 30, 2018.

eBay Extras Mastercard
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eBay Extras Mastercard

eBay Extras Mastercard
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  • No annual fee.
  • Earn $30 back (as a Statement Credit) when you open an eBay Extras Mastercard account and make a purchase with your new card through June 30, 2018.
  • Earn 3x points for every $1 spent on gas and restaurant purchases.
  • Earn 2x points for every $1 spent on PayPal and eBay purchases.
  • Earn 1x point for every $1 spent on all other purchases.
  • No annual fee.
  • Earn $30 back (as a Statement Credit) when you open an eBay Extras Mastercard account and make a purchase with your new card through June 30, 2018.
  • Earn 3x points for every $1 spent on gas and restaurant purchases.
  • Earn 2x points for every $1 spent on PayPal and eBay purchases.
  • Earn 1x point for every $1 spent on all other purchases.
Annual Fee
No Annual Fee
Regular APR
21.49% or 25.49% Variable
Credit Needed
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N/A
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

The information related to the eBay Extras Mastercard has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

One important thing to note about the eBay Extras Mastercard is that cardholders are capped at 50,000 rewards points in a statement year. A rewards cap is never a good thing, but at least this one is high. Assuming you don't earn any points in the card's bonus categories, you'd need to charge $50,000 to the card in one year to hit the cap.

In addition to its specific benefits, the eBay Extras Mastercard comes equipped with a few features that are standard for Mastercard credit cards, like extended warranties and price protection. The extended warranty feature allows you to double the length of a warranty from a manufacturer or store, as long as the item was purchased using the eBay Extras Mastercard. Price protection retroactively reimburses you the price difference if an item you purchased drops in price within 60 days of purchase.

Rewards Points and Value

Rewards points can be redeemed in a variety of ways, including cash back, gift cards, merchandise and travel vouchers. It takes a minimum of 6,000 rewards points to get $50 cash back, which is credited to your PayPal balance. This conversion means that rewards points have a value of 0.83 cents per point—or a 0.83% rewards rate on purchases that don't qualify for the bonus rewards rate. Most cash-back cards offer a minimum of 1% cash back. In other words, the baseline return on the eBay Extras Mastercard is below average.

That said, because the eBay Extras Mastercard earns you bonus points in certain categories, gas and restaurant purchases have a rewards rate of 2.5%, and PayPal and eBay purchases have a rewards rate of 1.67%. Although 2.5% is a very solid rewards rate, cardholders should keep in mind that their opportunity to earn rewards is limited by the annual 50,000-point cap. Cardholders should also be aware that points earned through the eBay Extras Mastercard can expire. You'll lose any points that aren't redeemed within 24 months of being earned. You'll also forfeit all of your points if you don't use the card at least once every 12 months.

How Does the eBay Extras Mastercard Compare to Other Cards?

With so many available credit cards, you should never apply for a card without comparing your options. Taking into account individual circumstances and spending habits, we analyzed how the eBay Extras Mastercard compares to other similar cards.

eBay Extras Mastercard vs Amazon Rewards Card

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The Amazon Rewards Card is a better card than the eBay Extras Mastercard, as long as you don't mind your rewards being limited to Amazon.com purchases or a slightly reduced rewards rate on gas and dining purchases. The Amazon Rewards Card offers a 3% rewards rate for purchases at Amazon.com and Whole Foods; a 2% rewards rate at restaurants, gas stations and drugstores; and 1% everywhere else. These categories may sound similar to those found on the eBay Extras Mastercard, but the big difference is that points earned through the Amazon Rewards Card are valued at 1 cent each, beating the eBay Extras Mastercard's point value.

The one downside to this card is that points have to be redeemed on Amazon.com. But unlike the eBay Extras Mastercard, there is no minimum number of points you need to redeem for a purchase. Keep in mind that the rewards rate for restaurant and gas spending is still higher on the eBay Extras Mastercard.

Highlights

The information related to the Amazon Rewards Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to Chase credit card offers. See chase.com for more information.

eBay Extras Mastercard vs Citi® Double Cash Card

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If your spending varies across several different categories, then you'd be better off with the Citi® Double Cash Card over the eBay Extras Mastercard. That's because the Citi® Double Cash Card offers 1% cash back when you buy and 1% as you make payments for those purchases, which means cardholders get an effective rewards rate of 2%. Furthermore, there is no cap on the amount of cash back that you can earn. Because this card has no cap, it is also a better choice for anyone who plans to spend a large amount on their credit card.

Highlights

eBay Extras Mastercard vs Chase Freedom Unlimited®

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Those who would prefer a straightforward rewards program can find solace in the Chase Freedom Unlimited®'s 1.5% cash back on every purchase. Unlike points earned with the eBay Extras Mastercard, the rewards earned through the Chase Freedom Unlimited® never expire as long as your account is open. This card is also better in the long run for heavy spenders since there is no cap on the cash back you can earn. However, if the eBay Extras Mastercard's bonus categories make up a large portion of your spending, then consider applying for the eBay Extras Mastercard instead.

Highlights

Comments and Questions

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).