The Venmo Credit Card is an exciting new addition to the list of cash-back credit cards currently on the market. Whether you're splitting a bill with a friend or transferring your cash-back rewards to your linked bank account, you can do it all right in the Venmo app. And the Venmo Credit Card is automatically integrated into the app – you can even split your card purchases right away and use the money your Venmo friends paid you back to pay your credit card bill all from the Venmo app. However, there's a solid chance that you've already been using the Venmo app to send or receive money from friends. ![]() (Photo courtesy of Venmo) Easy account managementįinally, the Venmo Credit Card is appealing thanks to the easy (and familiar) interface for managing your rewards - all of which happens in the Venmo app.Īdding a new credit card to your wallet can mean learning a new online platform or mobile app for keeping track of your rewards, scheduling payments and otherwise managing your profile. Split the bill easily with your unique Venmo QR code right on the front of your card. These features make the Venmo Credit Card incredibly convenient. With the Venmo Credit Card, you can also scan the code to activate your card when it arrives in the mail, to split payments among friends who also have Venmo, and to send money to other Venmo users. If you're familiar with the Venmo app, you know that each customer has their own QR code, allowing people to pay them directly by scanning the code with their smartphone. The Venmo Credit Card fits the bill, as it comes in five exciting colors and takes personalization to a whole new level by printing each customer's personal Venmo QR code on the front of the card. Who wouldn't want a statement piece to pull out at the register? There is a lot of excitement around cool-looking credit cards these days, and if you don't have one in your wallet, you might be feeling a little left out. Related: TPG's Venmo guide for beginners Your card, your color, your QR code Either way, you always earn up to 3% cash back on your highest spend category. For example, you might spend more on travel and entertainment one month but then gas and groceries the next. The cash back you earn on the Venmo Credit Card could help alleviate some of those monthly expenses.Īdditionally, your top categories aren't set in stone they change depending on where you spend each month. If you're like me, you've seen these bills increase significantly due to all of the time being spent at home. ![]() However, if you happen to spend the most at a cosmetics or beauty supply store using the Venmo Credit Card, you could earn up to 3% cash back - a unique value in the market.Īn especially intriguing cash back opportunity lies in the ability to earn additional cash back on bills and utilities - in particular electricity and water bills. Many other cash-back cards earn elevated percentages based on categories such as office supply stores, dining and travel. ![]() ![]() The Venmo Credit Card provides a unique opportunity to earn more than the standard 1% cash back on select categories - such as entertainment and health & beauty. (Photo courtesy of Venmo) Up to 3% cash back on unique categories The card has a tiered 3-2-1 earning structure, meaning that cardholders earn up to 3% cash back on their eligible top spend category, 2% back on their second-highest eligible spend category and 1% back on all other purchases.ĭining out is just one category where you can earn up to 3% back on the Venmo Credit Card. Speaking of spending … The more you spend, the more you can earn There are also no foreign transaction fees, and travel-related spend has the potential to earn up to 3% cash back. Remember that a no-annual-fee credit card can play a critical role in building your credit history, so this can be a great card to help in that endeavor. If you're considering adding a cash-back card to your portfolio, you should absolutely consider the Venmo Credit Card. I already mentioned the card's no annual fee, but it's worth highlighting again as a primary reason to get this card.
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