What is a Venmo Credit Card?
Venmo Credit Cards allow you to earn custom cash to spend, send, or auto-purchase crypto of your choosing from your Venmo accounts.
Review of Venmo Credit Cards:
Most people use Venmo to send and receive money instantly to their family and friends. You’ll be surprised at how many other features the app offers, such as the Venmo Credit Card.
- The contactless Venmo credit card is free and offers cash back for users who spend the most. Cardholders can cash in their rewards via the Venmo app to pay their credit card bill, pay authorized merchants, cash out to their bank accounts, and even buy crypto.
- You can use your Venmo credit card wherever Visa(r) cards are accepted. By scanning the QR code, you can also “Venmo” or request payment from your Venmo credit card friends.
- Select breaks down the benefits, fees, and rewards associated with the Venmo Credit Card below to help you decide whether it is the right card.
Benefits and perks
- Venmo Credit Cardholders get cash back each month based on their spending. They’ll earn 3% cash back on top-eligible top spend categories, 2% on the next, and 1% for the rest.
- If these were your top spending categories, you could earn 3% cash back on groceries and 2% on utilities and bills. The eligible spending categories include entertainment, bills, utilities, gas, groceries, transport, and travel.
- Venmo allows you to access your virtual Venmo Credit Card immediately after approval. You can also reset your virtual card number if your card has been compromised.
- The Venmo Credit Card is part of the Visa network. These include room upgrades and Visa Concierge 24/7 to assist with bookings, reservations, and gift purchases. It also includes Visa Signature(r), card benefits such as zero liability, lost or stolen credit card replacement, emergency cash assistance program, Roadside Dispatch(r), travel and emergency assistance services, and Visa Luxury Hotel Collection benefits.
- Venmo does not offer a welcome bonus on its credit cards. Still, you can check the credit card section of your Venmo app to see if you qualify for any special offers.
How to redeem and earn cash back
- Earn cash back with the Venmo credit card
- Select calculated the number of rewards an average American could earn if they optimized how they use Venmo Credit Card. Esri, a location intelligence company, provided us with an example annual spending budget of $22,126.
Cash back from Venmo Credit Card
- Venmo will automatically calculate your cashback rewards, making it easy to keep track of your spending. Your earned cashback will be reflected in your Venmo account at the end of each statement period. Your top spending categories are reset every month to match your spending.
- You have a variety of options to redeem your cash back. These include using it to purchase from Venmo merchants authorized, cashing in for your credit card bill, or fulfilling Venmo requests. You can also withdraw the cash and deposit it in your bank account.
- Venmo Credit Card holders interested in digital currency may use their cashback rewards to purchase crypto. You can turn on the “purchase cryptocurrency” feature in the app to choose from the four available tokens. Venmo will automatically buy crypto with your cashback if it transfers the funds to your Venmo account each month. However, users will still be charged fees for any crypto bought or sold beyond the cashback function.
- Venmo Credit Card is the next-generation credit card. It falls under Visa cards and has the same characteristics as the Venmo Experience. You can use it to make contactless payments and many other things.
- Venmo is also a venture of Synchrony Bank. Venmo credit cards are popular because they offer a variety of exciting offers, such as paybacks and discounts.
How do I set up a PIN for my Venmo Credit Card
The Venmo Credit Card uses a unique PIN to enable transactions like any credit card or debit card. You can access all information about Venmo Credit Card through a mobile app.
The Venmo app allows you to set your PIN and touch ID quickly. Follow these steps to do this:
- Step 1:Go to the app store or play store. Look for Venmo and then download it.
- Step 2:Allow the app to be installed on your smartphone. If you notice any problems, check your phone’s security section and turn on ‘Download from unknown sources.
- Step 3:Open the app and press the options icon in the upper right corner.
- Step 4:Open the settings and navigate to the Touch ID & PIN section. Tap on it.
- Step 5:Next, you will need to provide some basic information. You can also fill out the details by logging in.
- Step 6:Create a new pin that is easy to remember.
- Step 7:Enter the PIN again to confirm.
This is how to set your Venmo PIN. You can use this PIN to perform further transactions. You must ensure that your PIN is unique and not shared with anyone.
How do I change my Venmo Credit Card PIN?
If you need to change your PIN but don’t know the previous one, you can contact Synchrony Bank by calling 855-820-5806 to have it changed for you. In this instance, you will need to have the old PIN.
You can also call Synchrony Bank at 855-878-6462 if you forget your PIN or have lost it.
Questions about Venmo App
- Can I get cash with my Venmo Credit Card
- No matter how far we’ve come digitally, it is essential always to have some cash available in an emergency. You can withdraw money using the Venmo Credit Card at any time via ATMs.
- All you need to do is look for the Mastercard (r), PULSE (r), Cirrus, or MoneyPass(r) acceptance marks for ATMs. After completing a transaction, you can get cashback.
- What is the best way to get cash without entering a Pin into my Venmo Credit Card?
To access your money via transactions, you will need your PIN. Venmo Credit cards are ineffective without the PIN. Cashbacks, discount coupons, and other withdrawals are possible after any transaction. However, a PIN is not required.