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Venmo Credit Card Review: A Custom Cash Rewards Card Made for Regular Venmo Users

Review Updated
Natasha Etzel
By: Natasha Etzel

Our Credit Cards Expert

Nathan Alderman
Check IconFact Checked Nathan Alderman
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

You may know of Venmo as a payment app, but the company also has a credit card called the Venmo Credit Card. This credit card earns cash back rewards, syncs seamlessly with the Venmo app, and has no annual fee. Earnings are automatically transferred to your Venmo account balance, and you can use them in various ways, including purchasing crypto. Read our full Venmo Credit Card review to see if this is the right rewards credit card for you.

Ratings Methodology

Venmo Credit Card

Venmo Credit Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent (670-850)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

20.24% to 29.24%, Variable

Rewards Circle with letter I in it. Earn 3% back on your top spend category, 2% on the next category, and 1% on other purchases

1% - 3% back

Annual Fee

$0

Welcome Offer

N/A

  • Offers an unlimited 2% and 3% rewards in the top two eligible spending categories, has no annual fee, and syncs with the Venmo app for added convenience.

    • No annual fee
    • Custom cash back
    • Earn up to 3% cash back
    • No earnings cap
    • Custom card with QR code
    • No welcome bonus
    • No annual fee
    • Automatically earn up to 3% cash back
    • Earn 2% on the next category
    • Earn 1% on the rest of your purchases
    • Convert rewards to crypto
    • The Venmo Credit Card lets you earn custom cashback rewards and syncs seamlessly with the Venmo app
    • Keep tabs on card activity in the app, right with all your Venmo spending – every purchase, payment, split, and reward

Full Venmo Credit Card review

This credit card is a good fit for: Regular Venmo app users who want to earn up to 3% cash back rewards without paying an annual fee.

Top perks

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
    • Travel
    • Bills and utilities
    • Health and beauty
    • Grocery
    • Gas
    • Transportation
    • Entertainment
  • 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 can 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 or debit card
  • 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.

Read more: Best Crypto Credit Cards

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 better manage your spending habits and make using your card even easier.

Custom credit card with QR code

You can choose what physical credit card style 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.

Alternatives to consider

  • If you want a rewards card that earns flat-rate rewards: The Wells Fargo Active Cash® Card earns rewards at a flat rate of 2% back. That means you don't need to pay attention to your top spending categories.
  • If you want to earn rewards on grocery, restaurant, and drugstore purchases: The Chase Freedom Unlimited® has no annual fee and might be a good fit. This card earns 3% cash back on restaurant and drugstore purchases. When booking travel through the Chase Travel portal, you'll earn 5% cash back. Other eligible purchases earn 1.5% cash back.

If neither option feels like the right fit for you, look at our full list of credit card reviews to find another card that meets your needs.

See more: Best Rewards Credit Cards

As of Apr. 16, 2024
Image for
Image for
Image for

Venmo Credit Card

 Wells Fargo Active Cash® Card Chase Freedom Unlimited®
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Apply Now for Chase Freedom Unlimited®

On Chase's Secure Website.

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer:

N/A

Welcome Offer: Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

$200 cash rewards

Welcome Offer: Circle with letter I in it. Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.

Up to $300 cash back

Rewards Program: Circle with letter I in it. Earn 3% back on your top spend category, 2% on the next category, and 1% on other purchases

1% - 3% back

Rewards Program: Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

2% cash rewards

Rewards Program: Circle with letter I in it. Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases

1.5% - 5% cash back

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Intro APR: Circle with letter I in it. 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 15 months from account opening

Balance Transfers: 0% intro APR, 15 months from account opening on qualifying balance transfers

Intro APR: Circle with letter I in it. 0% Intro APR on Purchases and Balance Transfers for 15 months

Purchases: 0% Intro APR on Purchases, 15 months

Balance Transfers: 0% Intro APR on Balance Transfers, 15 months

Regular APR:

20.24% to 29.24%, Variable

Regular APR:

20.24%, 25.24%, or 29.99% Variable APR

Regular APR:

20.49% - 29.24% Variable

Annual Fee:

$0

Annual Fee: Circle with letter I in it. N/A

$0

Annual Fee: Circle with letter I in it. N/A

$0

Highlights:

  • No annual fee
  • Automatically earn up to 3% cash back
  • Earn 2% on the next category
  • Earn 1% on the rest of your purchases
  • Convert rewards to crypto
  • The Venmo Credit Card lets you earn custom cashback rewards and syncs seamlessly with the Venmo app
  • Keep tabs on card activity in the app, right with all your Venmo spending – every purchase, payment, split, and reward

Highlights:

  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • Earn unlimited 2% cash rewards on purchases.
  • 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
  • $0 annual fee.
  • No categories to track or remember and cash rewards don’t expire as long as your account remains open.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

Highlights:

  • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
  • Member FDIC
Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Apply Now for Chase Freedom Unlimited®

On Chase's Secure Website.

Show More Arrow graphic to expand and collapse content Show Less Arrow graphic to expand and collapse content

What could be improved

The Venmo Credit Card has many benefits, but it also has at least one drawback worth mentioning.

No welcome offer

Many other rewards credit cards provide a welcome offer to new cardmembers. These welcome offers can be an excellent way to earn extra points or cash back. The Venmo Credit Card has no welcome offer of any kind. If you're looking for a rewards card with bonus welcome points, you'll need to look elsewhere.

Suggested credit score

This credit card is intended for consumers with good to excellent credit. A FICO® Score of 670 or higher is recommended. Remember, it's possible to get approved with a lower credit score or be denied with a higher credit score. In addition to credit score, other factors, such as income and current debt, are considered.

The Venmo Credit Card is right for you if:

The Venmo Credit Card may be a good fit if you're looking for a no annual fee card that earns up to 3% in rewards.

You may also want to apply for this card if these things are true for you:

  • You use the Venmo app regularly
  • You want to earn 2% and 3% rewards in your two top spending categories
  • You regularly spend money in eligible earning categories
  • You want a rewards credit card with no rewards cap

If you're not a Venmo app user or don't spend significant amounts of money in the eligible top spending categories, this card may not be ideal for you. A different cash back rewards card may work better for your needs. Check out our best cash back cards list to learn more about other top rewards cards.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.

FAQs

  • No, the Venmo Credit Card has no annual fee.

  • When applying for the Venmo Credit Card, you must have a Venmo account that has been open and in good standing for at least 30 days.

  • You'll earn 3% on your top spend category and 2% on your second top spend category. The following purchase categories qualify for top spend earning: dining and nightlife, travel, bills and utilities, health and beauty, grocery, gas, transportation, and entertainment.

Our Credit Cards Experts

Natasha Etzel
By: Natasha Etzel

Writer

Natasha has been a freelance writer since 2015. She specializes in credit card and credit card rewards content. When not busy writing, she's either dreaming up her next credit card rewards redemption or traveling the globe. Her goal is to encourage more people to experience the world around them while making smart financial choices.

Nathan Alderman
Check IconFact Checked Nathan Alderman

Fact checker

Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.