eBay Mastercard – Credit Card Review: Overview, Facts, Features, Plans, Pros and Cons

The Synchrony Bank-issued eBay Mastercard credit card is designed for frequent eBay customers who wish to earn rewards that can be used toward future purchases on the marketplace. Although you get rewards on everything you buy, the significant pull of the card is the increased reward rate you'll get when you use it to buy stuff on eBay.

Who Should Use This Credit Card?

Searches for the greatest things with zeal and delights in a good deal.
When purchasing items for the home, he looks for good quality at a reasonable price.
She enjoys being the first to try new things.
Shops with a specific merchant regularly want to be rewarded for their loyalty.

This card is probably not for you if you aren't a regular eBay shopper. Aside from the fact that you'll need an eBay account to apply for the card, your rewards points can only be redeemed on the platform, and eBay purchases earn you the most money. Someone buying and selling on eBay as side employment or hobby might be the best fit for the card. You can perform better with various other cashback and rewards cards if you want more flexibility and earning possibilities in sectors like petrol stations, restaurants, and grocery stores.

Pros

Purchases on eBay are rewarded well.

Cons

Options for redemption are limited.
Lowest possible point value

Pros Explained

Purchases on eBay are rewarded well: If you shop on eBay frequently, the points can quickly build-up, especially if you achieve $1,000 in earnings for the year and the earnings rate jumps from 3 to 5 points for $1.

Cons Explained

Options for redemption are limited: Your points can only be applied to future eBay purchases. You can't get cash back or gift cards like you can with some other cards. Lowest possible point value: According to The Balance, each point is only worth 0.67 cents, which is less than the 1 cent per point offered by many other reward cards.

Earning Points and Rewards

Earn 3 points for every $1 spent on eBay within the first $1,000 in a calendar year. Your profits will increase to 5 points per dollar for the rest of the year. You'll get two points for every dollar spent at gas stations, restaurants, and grocery stores and one point for everything else. International eBay purchases and purchases made in currencies other than U.S. dollars earn 1 point for $1 spent and do not count toward the $1,000 barrier.

Redeeming Rewards

On eBay, you may use your points to pay for purchases and applicable taxes and shipping fees. You won't be able to redeem points until you've accumulated 1,500. After that, you can use your points to pay for anything during checkout, even if it's only 1 cent. While the eBay rewards rates appear to be competitive, keep in mind that every 1,500 points equal $10 off eBay purchases. Each point is therefore only worth 0.67 cents. For example, if you spend $2,000 on eBay purchases over the course of a year, you will receive 8,000 points. Another 4,000 points can be earned by spending another $2,000 on petrol, eating, and groceries (the other bonus categories). Your $4,000 spent would get you 12,000 points, worth $80, or a 2% return. Consider alternative cards that give more points on groceries, gas, or restaurants and may also have a redemption value of 1 cent per point or higher if you're not an eBay lover. Cards that aren't linked to a particular brand usually offer more flexible redemption choices. They will expire if you have not claimed your reward points within 24 months. Your points will also expire if you don't use the card for 12 months or if your eBay account is terminated.

Making the Most of the Card

Using this card for all eBay transactions is the greatest way to collect points that can help you save money on future purchases if you're a major eBay spender. You'll earn 5 points every $1 as soon as you reach the $1,000 annual spending level. Avoid carrying a balance from month to month when you approach that barrier. According to The Balance's continuous monitoring of credit card interest rates, the interest rates available with this card range from a little below average for all credit cards to approximately 7 percentage points more than average. If you're not an eBay regular, a general cash-back or rewards card will almost probably get you more benefits on non-eBay purchases.

Other Benefits of the eBay Mastercard

Concierge for airport services

Customer Experience

Synchrony Bank, the card's issuer, does not have a good reputation for customer service. In the J.D. Power 2021 U.S. Credit Card Satisfaction Study, the bank rated 9th out of 11 national card issuers, scoring below average. Even so, you may expect some of the standard big bank services, such as phone customer support 24 hours a day, online account access, and customer care chat during certain daytime and evening hours.

Security Features

Standard security measures on the eBay Mastercard credit card include 0% liability for unauthorized purchases. However, because it's a Mastercard, cardholders are entitled to free Mastercard ID Theft Protection, which offers identity theft notifications, credit card replacement, and I.D. Theft Affidavit support if you're a victim of identity theft.