Venmo Visa Credit Card

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Last updated on March 4th, 2021

Venmo Visa Credit Card

Earn Up to 3% Cash Back Automatically

Venmo Visa Credit Card
  • Regular Purchase APR 15.24% to 24.24% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.24% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Processing Network Visa
Best Benefits
  • Earn custom cash back rewards – up to 3% on your top spend category
  • Syncs seamlessly with the Venmo app
  • Visa contactless technology allows you to shop securely at contactless-enabled terminals
  • Choose from various colors, and each card contains a unique QR code that takes users straight to your profile
  • No annual fee
Rates & Fees
  • Regular Purchase APR: 15.24% to 24.24% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR: 24.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $29
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At a Glance

The Venmo Visa Credit Card is a unique twist on fintech credit cards. The card, from Synchrony Bank, offers up to 3% cash back on purchases, with rewards automatically calculated and debited into the associated Venmo account. The card also offers no annual fee and no foreign transaction fees.

Ideal for Those Who:

  • Already use Venmo
  • Want a simple, automatic rewards structure
  • Don’t want to pay an annual fee or foreign transaction fee

Venmo Visa Credit Card Review

The Venmo Visa Credit Card is a unique cashback credit card from Venmo. The card offers no annual fee, no foreign transaction fees, and 3% cash back on the Synchrony Bank purchases Issued.

Rewards Simplified

There has been a shift towards more versatile rewards in the credit card industry, and the Venmo Card is one of the best entries into this new arena in recent times. The card earns up to 3% cash back on eligible purchases in the cardholder’s top spending category.

Cardholders will also earn 2% back on the category they spend the second-most in, with 1% cash back on all other purchases. Venmo automatically tracks the purchases and tabulates everything for you, meaning there is no hassle, no confusion, and instant savings.

The following categories are eligible for the 3%, 2%, and 1% cash back breakdown with the Venmo Visa Card:

  • Transportation
  • Travel
  • Groceries
  • Entertainment
  • Dining & Nightlife
  • Bills & Utilities
  • Health & Beauty
  • Gas
  • Other

Cash back earned is automatically debited into the cardholders existing Venmo account, letting them spend, send, or whatever – anywhere Venmo or PayPal is accepted.

QR Code Design

One of the coolest features on the Venmo Card is the unique QR code on the front of every card. Each cardholder will receive a unique QR code that allows friends to connect via the platform quickly – letting them pay back a round of drinks – or ask for payment for part of a group dinner.

An Average APR

If the rewards and design are exciting features of the card, the interest rates are somewhat a letdown. Venmo offers three different account types, each with differing APR on purchase. Those rates are very much average at the lowest end – around 15.25%, while at the higher end, they reach over 24% – again, nothing special.

One thing to note is that the card does not allow balance transfers, so don’t apply if you have an existing balance you are hoping to transfer over.

Other Card Features

Other notable features with the Venmo Visa Card include seamless integration into Venmo’s handy mobile application (available for all mobile platforms). This integration allows cardholders to split bills with friends quickly, track all their spending, and promptly disable their card in the event of fraud or theft.

The card also offers contactless and mobile payments, which is a great bonus in a post-COVID world. Finally, the Venmo card provides enjoys Visa benefits, including:

  • Roadside Dispatch: Visa Roadside Dispatch is a pay-per-use towing and roadside assistance program. This program gives travelers peace of mind should they break down, anywhere, 24/7.
  • Auto Rental Collision Damage Waiver: Receive coverage when you use your Visa to pay for the entire cost of car rental. This protection covers damage due to collision or theft.
  • Cardholder Inquiry Service: 24/7 access to Visa customer service representatives who can provide detailed information for members in all major languages.
  • Emergency Card Replacement: Once connected with your bank, Visa will work with them to get you an emergency replacement card within one to three days. Conditions apply.
  • Emergency Cash Disbursement: Visa can also work with your bank to help get your emergency cash until your new card arrives.
  • Zero Fraud Liability: Cardholders pay nothing if their card is subject to unauthorized use or theft.

Should You Apply for the Venmo Visa Credit Card?

The Venmo Visa Card is one of the most enticing credit card offers to come around in recent years. The chance to earn 3% cash back is always welcome – as is the ability to get 2% back on your second-heaviest spend category. Even better, Venmo and Synchrony automatically tally the rewards and put them into your associated Venmo account.

The card is a great option for those who love to use digital payment platforms like Venmo or PayPal. For everyone else, however, the card will have no appeal. But, since you can’t apply without a Venmo account anyway, that point is fairly moot.

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