eBay Mastercard Review: Is It Worth It?

Written by Kim PinnelliUpdated: 1st Sep 2021
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eBay was the most popular online marketplace before the advent of Amazon, although it is still one of the most trafficked and used shopping websites today.

Indeed, many people love buying and selling things on eBay, ranging from new products to used clothes to gifts and more.

If you’re one of the people who spend a lot of money on eBay, there’s a rewards card with your name on it: the eBay Mastercard.

This eBay-focused credit card allows you to make purchases on eBay and accrue eBay-specific rewards points at a decent rate.

You can then exchange those points for eBay site credit, taking money off your future eBay purchases.

Pretty straightforward, right? Still, let’s dive deeper into this card and break down what truly has to offer so you’ll know whether you should apply.

eBay Mastercard Pros and Cons

Pros:

  • Good rewards point rate for eBay purchases, especially after spending $1000
  • No annual fee

Cons:

  • Points are only worth $.67 per point
  • Points accrual rate is lower for non-eBay purchases

What Is the eBay Mastercard?

The eBay Mastercard is a dedicated rewards card for eBay enthusiasts.

As its name suggests, this card provides you with a variety of rewards points and redemption options, with increasing benefits as you spend more money at its titular online marketplace.

However, if you don’t spend a lot of money on eBay, it may not be a very worthwhile card given its APR and lack of other advantages.

The eBay Mastercard is fairly easy to apply for, as you don’t need a very high credit score to qualify.

eBay Mastercard Review:

  • Annual Fee: $0
  • Annual APR: Variable 19.99% to 26.99%
  • Rewards: Earn 3 points per dollar up to $1000, then 5 points per dollar on eBay purchases. Earn 1 to 2 points per dollar for purchases from other retailers/platforms
  • Sign-Up Bonus: N/A

eBay Credit Card Rewards

The defining feature of the eBay Mastercard is its eBay-exclusive rewards program.

With this card, rewards points can be earned at a higher-than-average rate while making purchases on eBay. In addition, redemption options are limited to eBay purchases.

Earning Rewards

The eBay Mastercard’s rewards program is fairly simple, featuring a tiered structure that rewards you as you spend more money on eBay.

At first, you earn three points per dollar spent for the first $1000 of the big purchases you make. Next, you’ll earn five points per dollar for all remaining spending during the rest of the calendar year.

As a result, using the card more nets more points and, therefore, more rewards later.

However, note that if your net spending dips below $1000, such as by returning eBay merchandise, your rewards rate goes back to three points per dollar spent.

Fortunately, you can also use this card at other marketplaces. For example, cardholders get two points per dollar spent on restaurant, grocery store, and gas purchases, and any other purchases made with the card earn one point per dollar.

Redeeming Rewards

As mentioned, all your redemption options are limited to eBay. You have to reach 1500 rewards points at a minimum to redeem them (i.e., you can’t use 800 points for a partial redemption).

Every eBay rewards point is worth $.67. In other words, you’ll get $10 in eBay credit for every 1500 points you accrue.

Unfortunately, the rewards points also expire within 24 months if they haven’t been used. But if you are a regular eBay shopper, you’ll be pleased to know that you can use the rewards points on practically anything on the site.

If you want to make the most of the eBay Mastercard, try to use it for any purchases you make on eBay you reach the $1000 spending threshold and can benefit from five points per dollar instead of three points per dollar.

Naturally, you can also use this card as your primary option when buying groceries or gas.

eBay Mastercard Features and Benefits

Aside from its rewards program, the eBay Mastercard has a few other extra features and benefits that make it worth your time.

No Annual Fee

One of the better aspects of this card is its lack of an annual fee. It costs you nothing to hold this card if you don’t have any balance on it (although you may not want it taking up space in your wallet for no good reason if you don’t plan to use it regularly).

Earn 3x – 5x Points on eBay Purchases

As mentioned, the eBay Mastercard has a rewards points accrual rate of three or five points per dollar spent on the eBay website.

Therefore, this could be a particularly nice card for regular eBay shoppers who use the marketplace to buy everything, ranging from gifts to close-to-car parts and more.

Since the rewards point conversion rate (just $.67 per point) is relatively low, making the most of this card means spending a lot of money on eBay.

For example, if you spend $3000 on eBay, you’ll have roughly 12,000 points or about $80 worth of rewards credit.

It’s not a lot, but it can help shave off some of the cost from your eBay purchases if you’re a frequent shopper there.

Earn 2x Points on Gas, Restaurant, and Groceries Purchases

Even though two points per dollar spent is not quite as good as the rewards point accrual rate mentioned above, it’s still nice that you can use this card for other purchases and keep working toward eBay rewards.

Because the points categories are so open-ended, it may be easy to use this card for most of your daily shopping, continually occurring points all the while.

How Does the eBay Mastercard Compare to Other Credit Cards?

Let’s take a look at how the eBay Mastercard compares to similar credit cards or other options.

#1. Amazon Prime Rewards Visa Signature vs. eBay Mastercard

The Amazon Prime Rewards Visa Signature is similar to the eBay Mastercard in that its rewards are limited to Amazon.com purchases (or you’re stuck with a reduced rewards rate for dining and gas purchases).

The Amazon card is a generally better pick than the eBay Mastercard since the Amazon card rewards you with points valued at one cent per point, which is better than the eBay Mastercard’s $.67 per point rewards rate.

#2. Citi® Double Cash Card vs. eBay Credit Card

The Citi® Double Cash Card is better for individuals who spend money across a variety of categories. The Citi card gives you a 2% cash back rate for every purchase.

The card also doesn’t cap how much cash back you can earn, so it’s an all-around more versatile card pick than the eBay Mastercard.

#3. eBay Mastercard vs. Chase Sapphire Preferred®

The Chase Sapphire Preferred® card provides excellent travel rewards, dining out, and delivery service purchases.

It features a rewards accrual rate of 2 points per dollar spent for the above categories and 1 point per dollar spent for any other purchases.

As you can see, this card’s focus makes it less appropriate for eBay shopping, but it’s a better overall pick for general shopping or travel expenses.

It also has a phenomenal introductory offer in the form of 100,000 bonus points after spending $4000 in the first three months of your account opening.

#4. eBay Credit Card vs. Discover it® Cash Back

The Discover it® Cash Back card is best for rewards aficionados that don’t mind purchasing things in rotating categories.

With an introductory 0% APR offer for the first 14 months and no annual fee, this card lets you earn 5% cash back on everyday purchases.

The trick is that the category of the everyday purchase switches every quarter. Therefore, this can sometimes outshine the eBay Mastercard, but not always.

These two cards are really meant for different shoppers: the eBay card is better for those who like using one online retailer and the Discover it card is better for more variable shoppers who like to try different online marketplaces.

Frequently Asked Questions

Is the eBay Mastercard Worth It?

That depends. For people who spend a lot of money on eBay, this card could be worthwhile given that it rewards you with eBay site credit you can use for any purchases (and in any amount once you hit the minimum points redemption threshold, even $1!).

However, the card is likely not worth it if you don’t spend more than $1000 on eBay in a year to take advantage of the five points per dollar spent accrual rate.

Many more rewards cards have better cashback rates and bonuses that would save you money in other areas of your spending, even if they don’t have eBay-specific benefits.

How Does the eBay Mastercard Work?

The eBay Mastercard works for both eBay purchases and a variety of other purchases, although eBay purchases reward you with the highest points per dollar spent ratio.

You can then redeem the points for eBay site credit, effectively enjoying free eBay cash.

Is eBay Mastercard the Same as PayPal Credit?

No. PayPal Credit is a revolving line of credit that you can use to pay for online purchases through the PayPal platform.

You can then pay off the credit by making payments to your PayPal credit account.

Bottom Line: eBay Mastercard Review

All in all, the eBay Mastercard is a decent marketplace-specific rewards card that may be a favorite for eBay shoppers or fanatics.

However, there are plenty of other, more versatile rewards cards for folks who only occasionally spend money on eBay and need to save money with other purchases.

Kim Pinnelli
Kim Pinnelli

Kim Pinnelli is a Senior Writer, Editor, & Product Analyst with a Bachelor’s Degree in Finance from the University of Illinois at Chicago. She has been a professional financial writer for over 15 years, and has appeared in a myriad of industry leading financial media outlets. Leveraging her personal experience, Kim is committed to helping people take charge of their personal finances and make simple financial decisions.