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The information for the following product(s) has been collected independently by Business Insider: Citi® Double Cash Card. The details for these products have not been reviewed or provided by the issuer. With the Venmo credit card, you can choose from a broad range of 3% and 2% bonus categories, including dining, entertainment, bills, and more.
But depending on your spending and preferences, there could be more valuable alternatives. Earn 1-3% back on purchases $0 19.74%-28.
74% (variable) N/A Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn the highest rewards in the categories where you spend the most Check mark icon A check mark.
It indicates a confirmation of your intended interaction. Visa Signature benefits for eligible cardholders Check mark icon A check mark. It indicates a confirmation of your intended interaction.
No annual fee or foreign transaction fees con icon Two crossed lines that form an 'X'. No welcome bonus con icon Two crossed lines that form an 'X'. $10,000 cap per year on the highest cash-back categories con icon Two crossed lines that form an 'X'.
Must have a Venmo account to apply 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. 3% and 2% cash back on your first and second highest spending categories (on up to $10,000 in combined purchases each card anniversary year, then 1%) and 1% back on everything else Visa Signature benefits when approved for the Visa Signature version of the card No annual fee and no foreign transaction fees 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. It's rare to find a credit card with such a broad range of bonus categories — including health and beauty and utilities. Venmo Credit Card Overview 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.
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 SM 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 point per dollar when you make a purchase and 1 point per dollar when you pay off that purchase).
Venmo Credit Card Rewards There is currently no welcome bonus for the Venmo Credit Card. With the 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 Entertainment Gas Grocery Health and beauty Transportation Travel 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 to 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.
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 Litecoin Bitcoin Cash Ethereum Crypto is obviously less-than-stable, but it's a neat perk for some. Venmo Credit Card Benefits 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.
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. 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. 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. If you have the Venmo Visa Signature Credit Card, you'll get additional benefits.
Here are some highlights. 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. 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 Jump-starting Lockout service (no key replacement) Fuel delivery up to five 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.
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%. Venmo Credit Card Annual Fee and Other 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 — currently a 19.
74%-28.74% (variable) APR. Fees apply to other situations, including cash advances, late payments, and returned payment.
Compare the Venmo Credit Card The Venmo Credit Card is just one of several great no-annual-fee cash-back credit cards on the market. We'll compare it to a few popular alternatives so you can see how it stacks up. The Chase Freedom Unlimited® is surprisingly valuable considering the lack of annual fee.
For one, it earns a welcome bonus of additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year). You'll also earn 3% cash back on dining and drugstore purchases, 5% cash back on travel purchased through Chase Travel SM , and 1.
5% cash back on everything else—so you're always earning more than 1% on your spending, no matter what. The Venmo Credit Card could be a better pick if your top spending categories don't overlap with the bonus categories on the Chase Freedom Unlimited®. But otherwise, the Chase Freedom Unlimited® is worth a look — especially if you have a premium Chase credit card like the Chase Sapphire Preferred® Card since you'll be able to pool your cash-back rewards and redeem them as more valuable points.
Read our Chase Freedom Unlimited Card review . The Apple Card is another relatively new credit card from a tech company, not a traditional issuer, and like the Venmo Credit Card it doesn't offer a welcome bonus. It's really only a good fit for those who have an iPhone and use Apple Pay, because if you just use the physical card, you'll only earn 1% cash back.
If you use the Apple Card with Apple Pay, you'll earn 3% Daily Cash back on purchases from Apple (including merchandise, accessories, App Store purchases, and services like Apple Music and Apple TV+); 3% Daily Cash back at Ace Hardware, Duane Reade, Exxon, Mobil, Nike, Panera Bread, T-Mobile, Uber, Uber Eats, and Walgreens; and 2% Daily Cash back on all other purchases. So it could be a good option if you always use Apple Pay or spend a lot in these other categories. Read our Apple Card review .
Venmo Credit Card Tips 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. That said, the Venmo Credit Card waives this fee when you use it through Venmo for P2P payments, but you won't earn rewards for the transaction.
You can find your account by visiting the Venmo website or logging into the Venmo app. Why You Should Trust Us: How We Reviewed the Venmo Credit Card We rated the Venmo Credit Card according to similar cash back credit cards with no annual fee. Based on the card's lack of a welcome bonus and marginal ongoing benefits, but competitive earning rates, we've given this card 3.
2 stars out of 5 stars. See our credit card rating methodology for more details..
