Citi is no longer accepting applications for the Citi Custom Cash® Card product as of May 28, 2026.
Discover cards are currently not available on CNBC Select and links have been redirected to our credit card marketplace where you can review offers from other issuers like American Express or Chase. You can also check out our list of best credit cards for alternative options.
Debit cards usually lack the head-turning rewards that define the best credit cards, but PayPal has revamped its debit card with a perk that demands attention — 5% cash back in a category of your choice. If you can't qualify for a 5% cash-back credit card (or you just prefer debit to credit spending), this card makes a strong case for your wallet.
The PayPal Debit Card allows you to earn up to 5% back (earned as PayPal points) in everyday spending categories, which is rarer for a debit card. See terms at paypal.com/rewardspal
- Earns up to 5% cash back in select categories
- No annual fee
- No credit check required
- Caps your monthly cash back
- Points can expire with inactivity
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- A debit card for you to spend your PayPal balance.
- Earn 5% back on a category (earned as points) you choose each month on up to $1,000 of monthly category spend. Pick a category each month – Groceries, Fuel, Restaurants, Apparel, and Rideshare/Public Transit. Find the latest available categories in the PayPal app. (5% back earned as points) you redeem at checkout or for other options on up to $1,000 spend/month in your selected category everywhere Mastercard is accepted. Terms apply.)
- Stack rewards with other offers. Find offers from top brands in the PayPal app. Simply choose a monthly category to earn 5% back (earned as points), save relevant offers in your category in the PayPal app, and checkout with the PayPal Debit Card online through PayPal checkout. (Offers are subject to availability. Redeem points at checkout and for other options. PayPal Rewards terms and merchant offer terms and exclusions apply. Offers change often so refer to merchant site for the most accurate information. We may earn a commission when you make a purchase.)
- Use your card online and in store, anywhere Mastercard is accepted.
- Pay with your phone. Add your card to your phone's mobile wallet and tap to pay in store with Apple Pay (Apple Pay is a service provided by Apple Payments Services LLC, a subsidiary of Apple Inc. Neither Apple Inc. nor Apple Payments Services LLC is a bank. Any card used in Apple Pay is offered by the card issuer), Google Pay (Google Pay is a trademark of Google LLC.) or Samsung Pay (Samsung Pay is a registered trademark of Samsung Electronics Co. Ltd.)
- No monthly fees or credit check (This is not a credit card)
- Withdraw cash at ATMs. It's free at U.S. MoneyPass ATMs (ATMs must display the Mastercard®, Cirrus®, Pulse® or MoneyPass® acceptance marks. Up to $400 USD daily withdrawal limit applies. Transactions at non-MoneyPass ATMs have a $2.50 ATM Domestic and International Withdrawal Fee. No fee for MoneyPass ATM Withdrawals in the U.S. International Transaction Fee applies for International ATM Withdrawals. ATM operator fees may also apply. See Cardholder Agreement for details.)
- Easily manage your card in the PayPal app. The app is your hub to save offers, check your PayPal balance, quickly add money before you shop and track your transactions. Plus, redeem your points, lock and unlock your card, and find an ATM.
- Protection from PayPal and Mastercard(R). Get peace of mind with purchase protection on eligible items. Required Disclosure (Available on eligible purchases. Terms and limitations apply. See PayPal Purchase Protection Terms and exclusions.)
- Plus, Mastercard's Zero Liability, built-in chip technology, and temporary card locking capabilities help keep your money safe. (Conditions and exceptions apply – see Cardholder Agreement.)
How does the PayPal Debit Card work?
You'll need a PayPal Balance account before you can receive a debit card from PayPal. A PayPal Balance account is simply a PayPal account where you keep some money with PayPal (as opposed to just using PayPal to send and receive money from your linked third-party accounts).
When you have the PayPal Debit Card, the money in your Balance account is deposited in FDIC-insured partner banks, where it is protected up to $250,000 per person, per account. This should give you some peace of mind if you're worried about keeping your money with PayPal, since this is the same standard you find at most traditional banks.
How to earn rewards
The PayPal Debit Card lets you earn 5% cash back on a monthly category of your choice, whether you're shopping in-store or online. The categories are:
- groceries
- gas
- restaurants
- clothing
- health and beauty
Your selected monthly category expires at the end of each month, so you'll need to log into your PayPal app to choose a category offer each month, even if you select the same category.
PayPal limits cash back to up to $1,000 of spending in your chosen category each month, which means you pocket an extra $50 every month you max out your spending.
How to combine your rewards
You can also maximize your rewards by combining them with merchant offers within the same category in the PayPal app when you check out.
For example, if you selected restaurants as your category, you can combine your rewards with a cash back offer from a restaurant when you use your PayPal debit card at checkout.
Other features
Aside from the rewards, the PayPal Debit Card also has an auto-reload feature. This lets you automatically transfer money from a linked third-party account to your PayPal Balance whenever your balance drops below a certain amount, or whenever a certain amount of time passes.
For example, you can schedule a $50 transfer from a linked bank account or debit card on a weekly, bi-weekly or monthly basis. You can also set a minimum balance of $25 and have $50 transferred automatically whenever your balance falls below that amount.
If you prefer to tap your phone to pay for your purchases, you can also add your card to both Apple Pay or Google Pay for online and in-store purchases.
Alternatives to the PayPal Debit Card
Not every card will suit your needs, and that's okay — we have plenty of other options for you to explore.
If you're looking for a 5% cash-back credit card, the Discover it® Cash Back card earns 5% cash back in rotating categories, throughout the year, on up to $1,500 in purchases each quarter after you activate the bonus (then 1%). Once you hit the limit, you'll still earn 1% on all purchases. By maximizing spending in these categories, you could earn $75 cash back each quarter, plus unlimited 1% on everything else.
Information about the Discover cards has been collected independently by CNBC Select and has not been reviewed or provided by the issuer of the card prior to publication.
The Citi Custom Cash® Card also earns 5% cash back on your top spending category each billing cycle, up to $500 (then 1%). You'll also earn 4% cash back on hotels, car rentals, and attractions booked through the Citi Travel℠ portal until 6/30/2026, plus unlimited 1% on all other purchases. As a bonus, you can get $200 cash back after spending $1,500 in the first six months.
The Citi Custom Cash® Card is an especially simple and rewarding cash-back card because you'll automatically earn bonus rewards where you spend the most.
Rewards
- Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter.
- Earn unlimited 1% cash back on all other purchases.
- Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026.
Balance transfer fee
5% of each balance transfer ($5 minimum)
Foreign transaction fee
3%
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Read more
For rates and fees of the Discover it® Cash Back, click here.
