PayPal Cashback Mastercard vs Southwest Rapid Rewards® Plus
Side-by-side comparison
| PayPal Cashback Mastercard | Southwest Rapid Rewards® Plus | |
|---|---|---|
| Annual fee | No annual fee | $99 |
| Welcome offer | No current offer | |
| Dining | 1.5x | 1x |
| Groceries | 1.5x | 2x |
| Gas | 1.5x | 2x |
| Travel | 1.5x | 1x |
| Streaming | 1.5x | 1x |
| Everything else | 1.5x | 1x |
| Est. yearly rewards* | $437 | $373 |
| Points type | Cash back only | Locked to Southwest Rapid Rewards |
| Network | Mastercard | Visa |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified June 2026. See your own numbers in the calculator.
The verdict
On a typical year of household spending, the PayPal Cashback Mastercard earns about $437 a year in rewards and the Southwest Rapid Rewards® Plus about $373, valuing every point at a flat 1 cent. The PayPal Cashback Mastercard has no annual fee, so its rewards are all profit. The Southwest Rapid Rewards® Plus charges $99, which you clear through its rewards and perks. Counting rewards, fees, and any credits, the PayPal Cashback Mastercard delivers more total value, about $163 a year more for a typical spender, mostly because it earns more where you spend most, on everything else and dining. Neither leans on transferable points, so the deciding factors are the welcome offer, the card network, and which everyday perks you will actually use. On the sign-up bonus, the Southwest Rapid Rewards® Plus currently has the larger welcome offer (a limited-time offer above its usual amount, so treat it as a one-time boost). A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the PayPal Cashback Mastercard if your spending leans toward dining, travel, streaming. Pick the Southwest Rapid Rewards® Plus if your spending leans toward groceries, gas.