Details
Written by: RJ
PayPal is ending their business credit card effective 9/23/24
This letter is to inform you that the PayPal Business Cashback Mastercard® is being discontinued and all credit card accounts will be closing. It also is to inform you of additional changes that the creditor is making to the terms of your account, including your credit limit and required minimum payment. Please read this letter carefully as it contains important information about your credit card account and its updated repayment terms.
Effective September 23, 2024, your above-referenced credit card account will be closed. This means that you will not be able to use your credit card account for new transactions after this date. Transactions that are still outstanding as of that date will continue to process, but any new transactions after that date will be declined. Any returns, refunds, or other credits to your credit card account will still be permitted.
Even though your credit card account will be closed to new purchases or advances, you remain obligated to pay the remaining outstanding balance in a timely manner and in accordance with the terms of your existing cardholder agreement in effect at the time of such repayment, subject to the additional changes set forth below.
Specifically, effective September 16, 2024, your new credit limit is $XXX. You understand that after this date, any transactions that would cause you to exceed your new credit limit may be declined.
Thoughts
Doesn’t seem like a major loss. Albeit, annoying for those who did use it as a real business card.
Advertiser Disclosure: Some of the card links and products that appear on this website are from companies which RJ Financial/Profitable Content may receive compensation when you click on links to those products.Terms apply to the offers listed on this page. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. See our Advertising Policy here.
Editorial Note:
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.