These are the top highlights of the Venmo Credit Card.
No annual fee
There is no annual fee to use this card. Not all credit cards without an annual fee earn rewards, but this one does. This card may be a good option if you want to earn rewards without paying a yearly fee.
Earn up to 3% cash back
With the Venmo Credit Card, you can earn up to 3% cash back. Here’s a breakdown of how you will earn rewards with this card:
- Earn 3% cash back on your top eligible spending category. Eligible categories include:
- Dining and nightlife
- Bills and utilities
- Health and beauty
- Earn 2% cash back on your second top eligible spending category
- Earn 1% cash back on other purchases
No cap on earnings
There is no cap on earnings. That means you can earn unlimited rewards, even in your top spending categories. Some cash back credit cards have a cap on how much cash back you can earn. Since there is no cap, you have the flexibility to spend and earn as you wish.
Flexibility with how you use rewards
You have some flexibility with how you use your cash back earnings. Your earnings are automatically transferred to your Venmo app account balance at the end of each statement period. You can use your cash back rewards in several ways, including:
- Pay a friend
- Make a purchase with an authorized retailer
- Pay your Venmo Credit Card balance
- Transfer the money to your bank account
- Keep your funds in your Venmo balance
Venmo also lets you use your cash back rewards to buy crypto. You can purchase Bitcoin, Ethereum, Litecoin, or Bitcoin Cash through Venmo.
Feature-packed app capabilities
As a Venmo Credit Card user, you’ll have access to many useful features within the Venmo app. You can easily track your credit card spending, split the cost of purchases with friends, and shop online with participating retailers using your virtual Venmo Credit Card.
If you ever lose your physical card or want to start using your card before it arrives, you can request a virtual card within the Venmo app. These features can help you manage your spending habits better and make it even easier to use your card.
Custom credit card with QR code
You can choose what style of physical credit card you want to have from several color combinations. Your card will also feature your unique Venmo QR code. Your friends can scan your QR code to pay you. This feature may help facilitate speedy payments.