Electronic payment services can be one of the best ways to help you meet minimum spend requirements on a new credit card, and in the past I have talked about Venmo and Amazon Payments.
Well, news just came that starting May 1, 2012, users of Venmo will only be able to charge up to a total of $500 to their credit card over the life of the account without a fee, but above that there will be a 3% fee for funds sent via credit cards–effectively ending Venmo’s potential as a points-earning payment method. Bank payments (which don’t earn you any miles/points) will remain free. If you were not already signed up for Venmo, you will only have the option to make bank payments for free starting now, so no last-minute fee-free points-earning opportunities for you, unfortunately, though you can try to use my referral link to set up your account with a credit card and take advantage of the last month or so of credit card payments. I’m not sure it will work, but can’t hurt to try!
Even though 3% may not seem like a lot, it can still pretty much negate the value of any points you earn using your credit card. Until May 1, however, at least you can charge up to $2,000 a month through the service to earn a few last-minute points.
Those of you who were at the Chicago Seminars last year might remember that I talked about Venmo, where I said that Venmo is one of the sites leading the general trend toward cashless banking. While that still might be true, I hope that they’re not at the forefront of a fee-levying trend that sees all points-earning opportunities dry up!
You can find a complete description of the new fee on Venmo’s web site. As with all good deals, they come to an end!
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author.s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.
From June 16-22 Chase is increasing the sign-up bonus on the Ink Bold and Ink Plus cards to 60,000 Ultimate Rewards points when you spend $5,000 in 3... 
While Barclaycard may not have as many travel credit cards as some of the other big issuers, they've been on a roll lately with their US Airways... 
This is the fourth post in a series on my most recent round of credit card applications and will focus on how to conduct a personal credit card... 
This is the third post in a series on my most recent round of credit card applications and will focus on how to conduct a personal credit card... 
