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Ebay MasterCard Review

Earn triple points on gas and restaurants, two points at Ebay

About.com Rating 3 Star Rating
User Rating 1 Star Rating (1 Review)

By

Unfortunately, it's hard to tell what the points are worth.

Who the Ebay MasterCard is for

  • People who want to earn rewards on their Ebay purchases.

Credit Rating Required

  • Fair to excellent (600+)

About the Ebay MasterCard

Pros

  • Instant credit decisions.
  • $10 statement credit after first purchase.

Cons

  • No disclosure on what points are worth.
  • High redemption levels.
  • High APRs.

Rewards

  • Three points per dollar on gas and restaurant purchases.
  • Two points per dollar on PayPal and eBay purchases.
  • One point per dollar on all other purchases.
  • $10 statement credit after first purchase.

APRs

  • 19.99% or 23.99% on purchases and balance transfers, depending on your credit history.
  • Penalty interest rate: 29.99%.

Fees

  • Annual fee: None.
  • Late payment fee: Up to $35.
  • Balance transfer fee: 3% of balance.
  • Foreign purchase fee: 3%.

Ebay MasterCard Review

If you didn't know ahead of time what the points are worth on a rewards credit card, would you still get it?

That's a major problem with this card. I looked everywhere on this card's website and couldn't find out how much the points are worth. Apparently you have to get the card first before you can find out what the rewards are. You shouldn't have to do that.

What I did find out was only so-so. You get three points per dollar on gas and restaurant purchases. Interestingly, you only get two points per dollar on purchases at Ebay and PayPal merchants. You get a point per dollar on everything else. That's not bad, but about standard for rewards cards.

There's another problem. According to the website, you can't redeem your rewards until you've earned enough for a $50 payment to your PayPal account. That's a pretty high redemption threshold. By comparison, the Walmart Discover Card and other cards let you start redeeming your rewards as soon as you reach $10. The Amazon.com Rewards Visa Card lets you redeem your points almost as soon as you earn them.

You can also redeem your points for airline tickets, hotel stays, car rentals, gift cards and merchandise, but there's no detail on how many points you need.

The card has a couple of good points. It promises a response to your online application in just 10 seconds; if you're approved, you can start shopping (and spending) immediately. You also get $10 back as a statement credit, although you have to wait 6-8 weeks to get it.

You can earn a maximum amount of 50,000 points each year. The card is issued by GE Money Bank.

Recommendation

It's hard to recommend this card without knowing what the points are worth. However, you have to earn $50 in rebates - without knowing how much spending you need to get there - before you can redeem your rewards. That's a pretty high threshold.

User Reviews

Reviews for this section have been closed.

 1 out of 5
Sorry Ma'am that payment is on hold, Member KaiyaC

So all went well with getting my card and I loved it within the first few weeks of getting it. I attempted to pay my first month's bill using PayPal's eCheck feature only to have it return due to some unknown error. I caught the mistake and paid more than the statement balance weeks before its due date. Every month that I've had this card I have been told that I was not going to be allowed to spend more than my credit limit minus previous months balance, because due to the account being new with ONE returned payment payments were now going to take 7-14 business days to clear. But no fear, after the 3 minutes of unavoidable automation you must go through to reach an actual person you'll be greeted by someone with an Indian accent (EVERY SINGLE TIME) that will assure you that if you mail/fax in your bank statement showing that the money was debited from your account they'll release the hold. But I'm in college and don't have access to a fax machine, can I email it? Nope. This is now the second month of this nonsense and after another month of paying my bill in excess I'm still left with the money out of my bank account and blocked from my credit limit. I will NEVER do business with GE Capital again.

6 out of 7 people found this helpful.

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