Author Topic: Venmo Launches Its First Credit Card  (Read 1691 times)

Online Yo ssi

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« Last Edit: October 05, 2020, 10:09:43 AM by Yo ssi »
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Offline Aerial Dag

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Re: Venmo Launches Its First Credit Card
« Reply #1 on: October 05, 2020, 07:08:16 PM »
Interesting concept. Doesn’t seem to have a cap listed. Grocery includes wholesale clubs. Health and beauty include drugstore and gyms. Annoying that they break out transportation from travel but I guess the no cap 3% is nice for groceries or drugstores.

Offline hgeek23

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Re: Venmo Launches Its First Credit Card
« Reply #2 on: October 08, 2020, 10:17:26 AM »
Not terrible actually

Offline Dan

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Re: Venmo Launches Its First Credit Card
« Reply #3 on: October 08, 2020, 10:41:53 AM »
Interesting concept. Doesn’t seem to have a cap listed. Grocery includes wholesale clubs. Health and beauty include drugstore and gyms. Annoying that they break out transportation from travel but I guess the no cap 3% is nice for groceries or drugstores.
Says $10K annual spending cap in bonus categories.
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Offline Aerial Dag

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Re: Venmo Launches Its First Credit Card
« Reply #4 on: October 08, 2020, 11:08:06 AM »
Says $10K annual spending cap in bonus categories.

Yeah, you're right my bad. So $300 max if you only utilize it for 3%. meh
Quote
For the twelve months beginning on the Statement Period following your Anniversary Date, any Eligible Purchases in your combined 2% and 3% Spend Categories exceeding $10,000 will earn 1% Cash Rewards. Thereafter, the $10,000 maximum spend limit for 3% and 2% Cash Rewards resets each year on your Anniversary Date (“Annual Spend”), not at the beginning of each calendar year.

Online Yo ssi

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Re: Venmo Launches Its First Credit Card
« Reply #5 on: October 08, 2020, 11:10:48 AM »
Yeah, you're right my bad. So $300 max if you only utilize it for 3%. meh
Slightly OT'nik math
More like $3333.33
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Offline Lurker

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Re: Venmo Launches Its First Credit Card
« Reply #6 on: October 08, 2020, 11:15:24 AM »
Slightly OT'nik math
More like $3333.33

LOL! The irony...  :P

$10K x .03 = $300
Failing at maintaining Lurker status.

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Re: Venmo Launches Its First Credit Card
« Reply #7 on: October 08, 2020, 11:16:37 AM »
LOL! The irony...  :P

$10K x .03 = $300
ROFL woops
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Offline metsguy

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Re: Venmo Launches Its First Credit Card
« Reply #8 on: June 09, 2021, 12:22:55 PM »
Just got the email below. This actually seems interesting.

Earn up to 6% cash back with unlimited double rewards on purchases until 12/31


Congrats, you’re invited to apply for the Venmo Credit Card. And earn unlimited double cash back rewards on purchases through the end of the year. That’s up to 6% cash back.¹ Double whammy.
 Apply by July 31, 2021 to be eligible for the double cash back bonus. Subject to credit approval. See terms below.


Twice the rewards. All the benefits.
Double up your rewards
 
Earn 6% cash back on your eligible top spend category, 4% on the next, and 2% on the rest of your purchases through December 31st.¹ Cha-ching!

Your rewards are calculated automatically and added right to your Venmo balance. Fun money? Bill money? You decide.

 
 Venmo plus Visa®
 Rest easy knowing you can shop with Venmo internationally everywhere Visa® is accepted—no foreign transaction fee* here. Plus, use your virtual card to shop online as soon as you’re approved.

   
 
 
¹To qualify for this offer, you must apply for a new Venmo Credit Card between 12:01 a.m. ET on June 1, 2021 and 11:59 p.m. ET on July 31, 2021, and subsequently be approved. Offer may only be redeemed by the eligible participant, such eligibility to be determined by Venmo in its sole discretion. Cardholders must make net eligible purchase(s) (minus adjustments) with their Venmo Credit Card in order to qualify for the bonus. Cardholders will earn 6% cash back instead of 3% cash back on eligible purchases in the eligible top spend category, 4% instead of 2% on eligible purchases in the second eligible top spend category and 2% instead of 1% for other eligible purchases. Use of your Venmo Credit Card to send money to other Venmo users through your Venmo account will earn 1% cash back. Offer limited to one per person. Cash back bonus may be earned by eligible participants through 11:59 p.m. ET on December 31, 2021. Cash advances do not qualify for this offer. The cash back bonus will be fulfilled via an automatic transfer to the Venmo account pursuant to the Rewards Program Terms, provided your Venmo account is in good standing at time of fulfillment. In the event the bonus period ends on a different date than your statement period, the bonus cash back will be calculated based on the top categories on the date the bonus period ends. This may result in your statement period top categories being different than your bonus period top categories in the last month of the offer. Both your Venmo account and the Venmo Credit Card account must remain open, be in good standing, and not become delinquent at the time the cash back bonus is awarded. If there is a negative balance on your Venmo account at the time the cash back bonus is awarded, the cash back bonus may be used towards the balance. Once reflected in your Venmo account, use of the cash back bonus is subject to the terms of your Venmo account. Use of cash back is subject to the terms of your Venmo account. This promotional offer is in addition to and does not replace the Cash Back Rewards program as detailed in the Rewards Program Terms; please review these terms for details on earning Cash Back Rewards after the promotional period ends.

*See Terms and Rates.

²Subject to credit approval. You must be at least 18 years old and reside in the US or its territories to apply. You must also have a Venmo account in good standing, that has been open for at least 30 days prior to application.

Offline AsherO

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Re: Venmo Launches Its First Credit Card
« Reply #9 on: June 09, 2021, 08:00:42 PM »
I wonder what Synchrony Bank’s take on MS is, @CountValentine ?

Also, any way to stretch the rewards beyond their 6% value?
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Offline CountValentine

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Re: Venmo Launches Its First Credit Card
« Reply #10 on: June 09, 2021, 08:04:04 PM »
I wonder what Synchrony Bank’s take on MS is, @CountValentine ?

Also, any way to stretch the rewards beyond their 6% value?
Not MS friendly.
Only on DDF does 24/6 mean 24/5/half/half

Offline grodnoking

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Re: Venmo Launches Its First Credit Card
« Reply #11 on: June 09, 2021, 08:42:06 PM »


I wonder what Synchrony Bank’s take on MS is, @CountValentine ?

They were lax until about a year and a half ago when they went berserk and shut everyone down.
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Offline CountValentine

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Re: Venmo Launches Its First Credit Card
« Reply #12 on: June 09, 2021, 08:50:34 PM »
Only on DDF does 24/6 mean 24/5/half/half

Offline MeirS

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Re: Venmo Launches Its First Credit Card
« Reply #13 on: June 09, 2021, 10:02:17 PM »
Just got the email below. This actually seems interesting.

Earn up to 6% cash back with unlimited double rewards on purchases until 12/31


Congrats, you’re invited to apply for the Venmo Credit Card. And earn unlimited double cash back rewards on purchases through the end of the year. That’s up to 6% cash back.¹ Double whammy.
 Apply by July 31, 2021 to be eligible for the double cash back bonus. Subject to credit approval. See terms below.


Twice the rewards. All the benefits.
Double up your rewards
 
Earn 6% cash back on your eligible top spend category, 4% on the next, and 2% on the rest of your purchases through December 31st.¹ Cha-ching!

Your rewards are calculated automatically and added right to your Venmo balance. Fun money? Bill money? You decide.

 
 Venmo plus Visa
 Rest easy knowing you can shop with Venmo internationally everywhere Visa is accepted—no foreign transaction fee* here. Plus, use your virtual card to shop online as soon as you’re approved.


 
 
¹To qualify for this offer, you must apply for a new Venmo Credit Card between 12:01 a.m. ET on June 1, 2021 and 11:59 p.m. ET on July 31, 2021, and subsequently be approved. Offer may only be redeemed by the eligible participant, such eligibility to be determined by Venmo in its sole discretion. Cardholders must make net eligible purchase(s) (minus adjustments) with their Venmo Credit Card in order to qualify for the bonus. Cardholders will earn 6% cash back instead of 3% cash back on eligible purchases in the eligible top spend category, 4% instead of 2% on eligible purchases in the second eligible top spend category and 2% instead of 1% for other eligible purchases. Use of your Venmo Credit Card to send money to other Venmo users through your Venmo account will earn 1% cash back. Offer limited to one per person. Cash back bonus may be earned by eligible participants through 11:59 p.m. ET on December 31, 2021. Cash advances do not qualify for this offer. The cash back bonus will be fulfilled via an automatic transfer to the Venmo account pursuant to the Rewards Program Terms, provided your Venmo account is in good standing at time of fulfillment. In the event the bonus period ends on a different date than your statement period, the bonus cash back will be calculated based on the top categories on the date the bonus period ends. This may result in your statement period top categories being different than your bonus period top categories in the last month of the offer. Both your Venmo account and the Venmo Credit Card account must remain open, be in good standing, and not become delinquent at the time the cash back bonus is awarded. If there is a negative balance on your Venmo account at the time the cash back bonus is awarded, the cash back bonus may be used towards the balance. Once reflected in your Venmo account, use of the cash back bonus is subject to the terms of your Venmo account. Use of cash back is subject to the terms of your Venmo account. This promotional offer is in addition to and does not replace the Cash Back Rewards program as detailed in the Rewards Program Terms; please review these terms for details on earning Cash Back Rewards after the promotional period ends.

*See Terms and Rates.

²Subject to credit approval. You must be at least 18 years old and reside in the US or its territories to apply. You must also have a Venmo account in good standing, that has been open for at least 30 days prior to application.
If you want to read into it, they're offering unlimited double so for the first 10k they'll double 3%, after that they'll double 1%.

Just my take on it. Sorry to ruin the fun.

Offline AsherO

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Re: Venmo Launches Its First Credit Card
« Reply #14 on: June 09, 2021, 10:47:14 PM »
If you want to read into it, they're offering unlimited double so for the first 10k they'll double 3%, after that they'll double 1%.

Just my take on it. Sorry to ruin the fun.

Good point. Scammy misleading promotional bait.

“Unlimited” has become was of the most abused words in marketing.
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