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Regular Annual Percentage Rate (APR)
Pros & Cons
If you’re a Venmo user looking for a rewarding cash-back credit card with no annual fee, the Venmo Credit Card is an interesting option to consider. It gives you bonus cash for common expenses — even some that are woefully neglected by other cash back credit cards.
Review: Is the Venmo Credit Card the best card for you?
Venmo is a ubiquitous money transfer service owned by PayPal. It issues the $0-annual-fee Venmo Credit Card, a solid cash-back credit card that earns up to 3% cash back for your most common spending. Eligible bonus categories include dining, groceries, travel, and utilities. You can also automatically turn your cashback into crypto, if you’re into that kind of thing.
There is currently no welcome bonus for the Venmo Credit Card.
You need a Venmo account in good standing that has been open for at least 30 days prior to applying for the Venmo Credit Card. Applications are available on the Venmo app only.
If you don’t have or want Venmo, there are other cash-back credit cards available with similar earning rates. For example, the Chase Freedom Unlimited® offers 5% cash back on Chase travel portal purchases, 3% back on dining and drugstores, and 1.5% back on everything else. And the Citi® Double Cash Card earns an effective 2% cash back on all purchases (1% when you make a purchase and 1% when you pay off that purchase).
Insider’s Featured Cash Back Credit Cards
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations up to the quarterly maximum when you activate. Earn unlimited 1% cash back on all other purchases automatically.
Unlimited Cashback Match – Discover will automatically match all the cash back you’ve earned at the end of your first year
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Earn unlimited 2% cash rewards on purchases.
$200 cash rewards bonus after spending $1,000 in purchases in the first three months from account opening
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
How to earn cash back with the Venmo Credit Card
With the Venmo Credit Card, you’ll earn 3% cash back on your top spending category, 2% cash back on your second biggest category, and 1% cash back on everything else.
The Venmo Credit Card offers the following bonus categories.:
- Bills and utilities
- Dining and nightlife
- Health and beauty
On each billing statement, your spending in each category will be calculated — your top spending categories can change every month. Cash back is credited directly into your Venmo account.
It’s great to be able to receive cash back for such common purchases. The utilities category is a hugely underrepresented spending category.
How to use rewards from the Venmo Credit Card
Cash back is the king of flexibility. You can cash out your rewards by depositing the money into your linked bank account; you can transfer it to someone else; you can make purchases with retailers that accept Venmo.
You can also turn on the crypto auto purchase feature, which will tell Venmo to automatically purchase crypto with the cash back you’ve earned each month. You can choose from:
- Bitcoin Cash
Crypto is obviously less-than-stable, but it’s a neat perk for some.
Venmo Credit Card benefits and features
The Venmo Credit Card comes in two versions: Visa and Visa Signature. Cash back earning is the same with both versions and there are similar benefits, and the type you’ll get approved for depends on your individual credit profile.
Manage your card in the Venmo app
You manage the Venmo Credit Card directly through the Venmo app, where you can track real-time spending organized by category, split and share purchases, view cash-back status, and make payments. You can elect to receive real-time purchase alerts and be notified when cash back is applied to your account.
Custom card design
Your credit card will be printed with a custom QR code, which can be scanned to activate the credit card or for friends to access your Venmo profile and send a payment or split purchases. You can select from several brightly colored patterned designs when you apply.
At the time your card is approved, you will receive a virtual card in your Venmo wallet. This can be used for online purchases even before receiving your physical card. You can request a new virtual card at any time.
Visa Zero Liability Policy
You will not be liable for unauthorized transactions made to your Venmo Credit Card if you immediately contact Synchrony Bank if your card is lost or stolen, if your credentials are compromised, or if your account has been accessed without your permission.
Venmo Credit Card Visa Signature benefits
If you have the Venmo Visa Signature Credit Card, you’ll get additional benefits. Here are some highlights.
Visa Luxury Hotel Collection
When reserving hotels through the Visa Luxury Hotel Collection, you’ll get special complimentary benefits:
- Best rate guarantee
- Room category upgrade
- $25 food and beverage credit
- Daily continental breakfast
- VIP guest status
- In-room Wi-Fi, when available
- 3 p.m. checkout upon request, when available
The 24/7 Visa Concierge service offers telephone assistance with making reservations, arranging gifts, and more. This service is complimentary with your Venmo Visa Signature Credit Card.
Travel and emergency assistance services
You’ll get complimentary 24/7 access to the Travel and Emergency Assistance Service, which connects you with resources to help manage emergencies when traveling, including legal and medical referrals (service cost is at your expense).
This is a pay-per-use roadside assistance program. When you call 800-847-2869, you can receive the following:
- Standard towing, up to 5 miles included
- Tire change. Must have a good, inflated spare
- Lockout service (no key replacement)
- Fuel delivery up to 5 gallons (plus the cost of fuel)
- Standard winching
Again, you’ll have to pay for most of this — but it’s good if you’re in a pickle.
Audi on Demand discounts
You’ll get up to 15% off your bill when renting an Audi through Audi on Demand when you use this link — with a guaranteed discount of at least 10%.
Regular Annual Percentage Rate (APR)
Pros & Cons
Fees and costs
The Venmo Credit Card has a $0 annual fee and no foreign transaction fees. Like other cards, if you don’t pay your balance in full, you’ll pay interest, and there are fees for late and returned payments and cash advances.
Comparison: Venmo Credit Card vs other cash-back cards
Comparison: Venmo Credit Card vs other flexible category credit cards
** 3% and 2% cash back on the Bank of America® Customized Cash Rewards Credit Card on up to $2,500 in combined spending each quarter, then 1%
*** 5% cash back on the U.S. Bank Cash+® Visa Signature® Card on up to $2,000 in combined purchases each quarter (then 1%) in two categories you choose from a list
Venmo Credit Card frequently asked questions (FAQ)
Because it’s a no annual fee credit card, the Venmo Credit Card is free to try. And because its bonus categories mold to your spending, it’s a great fit for just about any wallet. The card is definitely worth it if your primary goal is cash back.
However, this card is best used to complement another cash-back card that earns bonus points in other areas of your spending. For example, the $0-annual-fee Capital One SavorOne Cash Rewards Credit Card earns 3% cash back on dining, at grocery stores (excluding superstores like Walmart and Target), entertainment, and popular streaming services, and 1% cash back on all other purchases. If you have this card, you can funnel the less common purchases (utilities, health and beauty, transportation, etc.) through the Venmo Credit Card.
You can use a credit card to pay merchants, but you’ll incur a 3% fee. The Venmo Credit Card does not come with any sort of benefit that will waive this fee.
You can find your account by visiting the Venmo website or logging into the Venmo app.