Dead: PayPal Is Shutting Down PayPal Key Virtual Card

PayPal Has a New Virtual Card

The virtual card option will be closed next month, according to an email sent to the key members. New members were blocked on March 1st and now all existing members will have their virtual cards declined on April 20th. It was enjoyable. I guess you get a month to say goodbye.

Original Post

You can use the new virtual card from PayPal to pay for online purchases. Even if an online merchant doesn't have a PayPal checkout option, you can use the virtual card to make purchases. You can use your Discover card for online purchases and earn 5% cash back.

Amex Is Removed 12/17/20

American Express cards will no longer be accepted by PayPal Key. The Amex card will no longer be accepted for use in places where Mastercard is not accepted.

PayPal Key

The new way to use your PayPal account is through the virtual card called PayPal Key. The product is only available to select customers. It will soon be available to other people.

Here's how it works.

• Choose a payment method from your PayPal Wallet
• Receive a secure PayPal Key with its own virtual card number, expiration date and security code
• Save the PayPal Key to your browser for faster checkout or use it as you would any card online
• Take PayPal Key anywhere you shop online

There is no application or credit check for the PayPal Key. You won't have to pay any set-up or usage fees.

You can add a key to your account.

• Web browsers (Google Chrome, Safari, Internet Explorer)
• Venmo
• Google Pay

Apple Pay and SAMSUNG Pay do not work with PayPal Key.

You can use your key.

• Shop at any U.S. and non-U.S. merchant that accepts Mastercard
• Buy over the phone (just give the merchant your virtual card number, expiration date and security code)
• Earn points in the same way you would with any card in your account

Here you can see more details.

Conclusion

Some people are already seeing PayPal Key in their accounts. Seems like a useful option when you want to use PayPal for your online purchases. It even gives you the option to use Amex cards for purchases, even when they are not accepted on a site. You can add them to your PayPal account and then pay with PayPal Key, which uses the Mastercard network.

Chase Freedom unlimited has an extra cash back bonus.

Right now, Chase Freedom Unlimited has an increased offer. You can earn an additional 1.5% back in all categories if you spend up to $20K in the first year. There is no yearly fee.

There are additional card benefits.

• With the extra 1.5% cash back through the welcome offer you can earn (on up to $20K spend):
  • 6.55% cash back on travel purchased through Chase Ultimate Rewards
  • 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
  • 3% cash back on all other purchases
• 0% Intro APR for 15 months from account opening on purchases

You can learn more about this card.

The author's opinions, reviews, analyses, and recommendations have not been reviewed, endorsed or approved by any of these entities.