Venmo Credit Card

Venmo Credit Card Review

This is a cashback card issued by Venmo. If you're wondering whether Venmo Credit Card is the right card for you, read on.

Key Takeaways

• Competitive APRs. Venmo Credit Card has a variable purchase APR that ranges from 15.24% up to 24.24%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as access to a concierge, emergency support, identity theft protection, travel accident insurance, travel assistance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 600.

Pros & Cons of Venmo Credit Card

The Good	The Bad
Potentially lower than average purchase APRs. No annual fee. Multiple credit card perks. Access to a concierge. Identity Theft Protection. Travel accident and travel assistance insurance. Considers applicants with fair credit. No foreign transaction fee. Venmo Credit Card reports to multiple credit bureaus.	Does not offer a signup bonus. You don't earn rewards on every purchase.

Venmo Credit Card FAQ

Does Venmo Credit Card have a cash back or rewards program?

No, it does not offer a rewards program. This is a cashback card. This means you earn a percentage of your purchases as cash back rewards.

What are the Venmo Credit Card benefits?

It provides the following benefits:

• Emergency Support
• Zero fraud liability
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Venmo Credit Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

Venmo Credit Card has a variable purchase APR that ranges from 15.24% up to 24.24%. It also has a variable cash advance APR of 24.24% .

What are the fees for Venmo Credit Card?

The following fees apply:

Venmo Credit Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	up to $29
Late Payment Fee	up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does Venmo Credit Card report your account activity to credit bureaus?

Yes, Venmo Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Venmo Credit Card

• Visit the Venmo Credit Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.