Venmo's lucrative cash-back card is now available to all -- 5 things to know
The ongoing pandemic has made us evaluate how we really use our credit cards.
At TPG, that includes both looking at points and miles vs. cash back strategies and considering whether you're likely traveling in the near-term or not. In fact, cash-back cards are on our radar now more than ever -- and another strong entrant recently joined the fray. Venmo launched its first-ever credit card in October 2020, and now, it's publically available to all eligible Venmo customers.
The company best known for its peer-to-peer payment platform is now expanding beyond its core product. The Venmo Credit Card offers a solid earnings structure, personalized rewards and a mobile-first platform.
Here are five things to know about the new Venmo Credit Card, a product issued by Synchrony Bank on the Visa network.
New to The Points Guy? Sign up for our TPG daily newsletter for tips and tricks to make the most of your rewards.
[table-of-contents /]
Dynamic 3-2-1 earnings on purchases
One of the most important elements of any cash-back card is its earning structure and Venmo has a very competitive offering. However, there's a catch which I'll dive into momentarily.
You'll earn 3% back on your highest spending category each month, 2% back on your second highest spending category and 1% back on everything else.
While a 3-2-1 earning isn't particularly groundbreaking, what is very attractive is the fact that you'll earn based on your own personalized spending habits. This makes the Venmo card particularly interesting for everyday purchases that aren't typically associated with a card category bonus.
There are eight different categories where you can earn the elevated 3% and 2% back (with 1% back on everything else):
- Grocery
- Bills & Utilities
- Health & Beauty
- Gas
- Entertainment
- Dining & Nightlife
- Transportation
- Travel
The most unique here are bills & utilities and health & beauty and entertainment -- none of these are particularly common categories. Additionally, the earnings flexibility is a huge asset for the Venmo card, since spending behavior fluctuates on a month-to-month basis. In fact, this could (surprisingly) make the Venmo card one of the most lucrative card for things like Disney World and other theme park tickets.
While this earning structure can be quite rewarding, it's important to note that Venmo caps the annual spending limit to $10,000 in the combined 3% and 2% categories. After spending $10,000 in these categories, you'll only earn 1% back thereafter. That $10,000 threshold is based on a cardholder's anniversary date.
Related: How to make the most of Venmo's perks
Your card is personalized
If you've used the Venmo app before, you know that each account has a dedicated QR code to simplify the process of paying an individual. You can easily open your phone's camera and scan the code to directly pay that Venmo user.
The same now goes for the Venmo Credit Card.
The card comes in five designs, with each card printed with a customer's unique QR code on the front. The QR code can be scanned via a mobile phone camera to activate the card, or in the Venmo app by friends to send a payment or split purchases.
Related: 6 ways to pay without touching anything
Do everything through the Venmo app
With the Venmo app, there's functionality to track activity in real-time organized by spending categories, split and share purchases with friends, view cash back status and make payments. These aren't unique features but the simplicity and already-familiar platform are strong selling points for Venmo.
"The card gives our customers the same unique Venmo experience they already know and love, in an intuitive, easy-to-use card and rewards program, that's all seamlessly managed and controlled from the Venmo app," said Darrell Esch, SVP & GM of Venmo, in a written statement.
No annual fee
While there are no premium card perks, there also is no annual fee on the Venmo Credit Card. The card also isn't a bad option to use abroad since there are no foreign transaction fees.
Related: Best no-annual-fee cards
All Venmo customers can now apply
When the Venmo Credit Card launched in the fall, only a select number of customers were targeted for the card who had a Venmo account for at least 30 days and who were active in the last 12 months. Now, the card is publicly available to everyone, though the only way to apply will be through the existing Venmo app.
Bottom line
While there are a handful of other cash-back cards worthy of consideration, the Venmo Credit Card is an intriguing option for those who don't want to deal with restrictive bonus categories and/or have shifting spending habits that change month to month.
It's not just the 3% back on your highest spending category (and 2% back on your second category) that makes this card attractive. For many existing Venmo customers, there is the familiarity and intuitiveness of a platform that is already readily used. Just know that you'll only earn 3% and 2% back on up to $10,000 in purchases. If you're in the market for a cash-back card, the Venmo Credit Card is worth a closer look.
Related: TPG's Venmo guide for beginners: how to make the most of small, but mighty, perks
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees