Venmo Credit Card review: Bonus cash back for fans of Venmo
Editor's Note
Venmo Credit Card overview
The Venmo Credit Card offers a seamless connection with your Venmo account and has no annual fee. Plus it adapts to your spending habits automatically with its bonus categories. Those looking for uncomplicated cash back without frills will enjoy this card. Card rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
The Venmo Credit Card is issued by Synchrony Bank, is available in five colors and bears the name of the popular peer-to-peer payment system. However, the card is more than just the name it bears, offering a quality earning structure and a choice of redemption options that will please many people.
It has no annual fee and a recommended credit score of 700.
Despite the uniqueness of choosing which color your card will be, the lack of an annual fee on the Venmo card also leads to a lack of perks you may be looking for in a credit card.
Does the Venmo card deserve a place in your wallet? Here's what you need to know to make that decision.
The information for the Venmo Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Venmo Credit Card pros and cons
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Venmo Credit Card welcome offer
The Venmo card occasionally offers welcome bonuses. However, a bonus isn't available all the time, changing the value attained when you apply for the card.
Your Venmo account may contain limited-time welcome offers, such as earning $150 or even $200 after meeting certain spending requirements. If you want to apply, we recommend waiting until a similar bonus is available.
Related: The best credit card welcome bonuses
Venmo Credit Card benefits
The Venmo card can be issued as a Visa Traditional or Visa Signature card. Depending on the card type you receive, you'll enjoy benefits like emergency card replacement and emergency cash disbursement, a zero liability policy, Visa Signature Concierge, access to the Visa Luxury Hotel Collection and roadside dispatch.
The Venmo card has your personal QR code on it, so people can scan it and go straight to your Venmo profile to send you money. The card is also integrated with the Venmo app to track activity, and you can apply payments from friends directly to your credit card bill.
You also can access a virtual account number instantly after card approval, meaning you can use the card right away while waiting for it to come in the mail.
As a no-annual-fee card, don't expect perks like travel credits, lounge access or travel insurance. If you're looking for those benefits, consider a travel rewards credit card.
Related: Will my rewards change if I pay by mobile wallet?
Earning cash back on the Venmo Credit Card
Getting a credit card that earns extra points or cash back in the categories where you spend money regularly is important. However, spending habits change.
What if you have to choose your preferred categories in advance, then a large bill comes up? Cards that adjust automatically to your spending habits — like the Venmo Credit Card — can be ideal for this scenario.
You'll earn 3% cash back in your top eligible spending category each billing period, with the category adjusting automatically based on which of the following categories you use most:
- Bills and utilities (including ongoing subscriptions, such as streaming)
- Dining and nightlife
- Entertainment
- Gas
- Grocery (including wholesale clubs)
- Health and beauty
- Transportation
- Travel
You'll earn 2% back on your next-highest spending category and 1% back on other purchases.
There are no earning limits, which is a nice perk of this earning structure. However, you won't earn cash back when sending money via electronic funds transfers, money transfers or wire transfers.
Some of these categories, like utilities and wholesale clubs, are not common on consumer credit cards. That gives the Venmo card an edge over other comparable cash-back credit cards.
Redeeming cash back on the Venmo Credit Card
All rewards from the Venmo card will be added to your Venmo account balance within three days of a statement closing. You have two options for your earnings.
First, you can use the cash back in your Venmo balance to pay bills or send money to friends.
Alternatively, you can redeem your earnings to auto-purchase cryptocurrencies. Options include Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Purchasing automatically has no cryptocurrency purchase transaction fee, unlike standard cryptocurrency purchases with Venmo.
Finally, you can redeem your cash-back rewards into a bank account.
Since your rewards are redeemed as cash, they have a flat-rate value of 1 cent. With fixed-rate rewards, you'll never wonder what your earnings are worth. This can be a strong part of your overall rewards strategy.
Related: Why you should get a fixed-rate rewards credit card
Which cards compete with the Venmo Credit Card?
In addition to the Venmo Credit Card, there's the Venmo Debit Card, which can earn cash back from Venmo Offers powered by Dosh. However, if you're looking for a credit card, it's worth evaluating these alternatives to see if they're a better fit for you:
- If you want a card from a payment app: The PayPal Cashback Mastercard® has no annual fee and offers 3% cash back on PayPal payments and 1.5% back on other purchases. Depending on your spending habits, you may come out ahead with this earning rate. To learn more, check out our full review of the PayPal Cashback Mastercard.
- If you want a higher earning rate by choosing categories in advance: The U.S. Bank Cash+® Visa Signature® Card earns 5% cash back in two pre-chosen categories and 2% back on another category of your choice. However, you'll only earn 5% back on $2,000 of purchases each quarter across your two chosen categories. This card has no annual fee. To learn more, check out our full review of the U.S. Bank Cash+ Visa card.
- If you want additional options for using your earnings: The Citi Double Cash® Card (see rates and fees) earns 2% back on every purchase (1% when you buy, 1% when you pay). You can cash out your rewards or use them for travel. To learn more, check out our full review of the Citi Double Cash.
The information for the PayPal Mastercard and U.S. Bank Cash+ Visa has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
For additional options, check out our full list of the best cash-back credit cards and the best credit cards with no annual fee.
Related: A round-up of crypto credit cards for earning rewards
Is the Venmo Credit Card worth it?
For fans of Venmo, this may be a great card since you'll earn cash back on categories that adapt to you. However, if you don't use the Venmo app often, needing to do so to use the Venmo Credit Card could be a big adjustment. The card also lacks insurance protections or feature benefits beyond its earning rates, which may be a deal breaker for some.
Bottom line
Earning extra cash back in categories that adjust to you (and doing so automatically) can be great, assuming this isn't done at the expense of your everyday purchases. If your purchases are varied, you may do better with a card that earns extra cash back across multiple categories or earns 2% back on every purchase.
However, if you use Venmo frequently and your spending habits are often skewed into one spending category, you could get good value from the Venmo Credit Card.
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.