How to Get Cash Advance from Venmo Credit Card [2024]?

What is Credit Card cash advance?

The term means getting cash from the ATM by using the Venmo credit card. For using this service a person has to pay some additional charges that are higher than the charges incurred on the usual purchases done by the credit card.

To get a cash advance you have to enter the pin at the ATM and the amount that you want to withdraw. There are times when you are done shopping but the owner asks for cash as they do not accept credit cards. At that time you can use a cash advance to pay the amount. 

The interest on the cash advance initiates at the same time when the transaction gets completed and is charged till the time you do not pay back the money. In case you want to avoid paying extra charges then you should return the money quickly. You can also avoid paying the cash advance fees by using a debit card more often at the ATM.

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Venmo credit card cash advance pin

To get a credit cash advance, a person has to visit an ATM and enter the pin and the amount that he wants as a cash advance. A pin is a security number that is given to every credit and debit user, this is a unique number and without this transaction cannot be completed. 

In case you forget your pin then you can contact Synchrony Bank. For that just call on 855-878-6462 and they will give you complete details on how you can reset it. If you want to change your pin then you can call on 855-820-5806, the bank will guide you.  

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Venmo credit card cash advance limit

Venmo proffers a credit card facility to its users with no yearly charges. You can use a credit card at umpteen places for purchasing. A credit card can also be used for cash advances that is you can take cash out from an ATM by using a credit card and entering the PIN. 

Although there are certain limits to withdrawing cash from a credit card. The limit is sometimes equal to the credit card limit and it may be lower than the credit card limit. It varies for every person. The company also charges certain fees to get the cash advance and the fees start at the time when you complete the transaction process and are carried on till you make the payment to the company.

How to get cash from Venmo credit card?

If you want in-hand cash, you can visit a nearby ATM, Enter the ATM pin, Enter the Amount and get cash in hand.

Venmo Credit Card CashBacks Offers

Once your Venmo credit card gets approved for usage, you will become eligible to earn cash back rewards on all approved purchases. You do not need to opt for the credit card differently. 

Venmo credit cards are accepted everywhere within the US or US territories. Once you apply for the Venmo credit card from the Credit card section in the Venmo app, you will receive your card within seven to ten business days. 

Now you can use the Venmo credit card to make purchases at Venmo-supported stores. Once you make a purchase that is eligible for cashback rewards. You will earn cash. The amount of cash you will earn will depend on the spend category. You will earn 3% cash back on top spend category, 2% cash back on the second top spend category, and 1% cash back on the rest of the spending throughout the years. However, the cashback reward limit is $10,000 for a year. 

How to get cash advance from Venmo credit card?

Cash advance fee is the same fee that is charged when withdrawing money from an ATM using the credit card.

When you use a Venmo credit card to send money to your friend or withdraw money at the ATM, they will charge you an additional fee. The fee will be counted based on the dollar amount or percentage fee. Whichever option will be higher, Venmo will charge you accordingly. 

Venmo will charge you higher APR rates on each transfer. This will include other cash advance fees. Finally, things will add up. Therefore, you need to contact the card issuer to learn about the fees you will be charged because it keeps varying.

Also Check:- How to Use Virtual Venmo Credit Card on Phone?

Venmo App FAQs

Can I do a cash advance on a Venmo credit card?

Yes, Venmo gives the advantage to use the credit card for doing cash advance but there are certain charges that the person has to pay along with cash advance. Cash advances assist you in getting cash from the ATM in case of need. Venmo credit cards can also be used for making payments on the Venmo app. However, the company charges 3% for making any credit card payment to another person. 

Is the Venmo credit card a real credit card?

Like all other credit cards, Venmo is also the same and real. It gives you the same privileges as you can use the card for payment in foreign countries that too with no additional charges. It also offers you a cash advance option so if you forget cash at home you can use that. Although like all other companies, Venmo also charges 3% for making payments to other persons. 

Does my Venmo credit card have a PIN?

With every card, Venmo asks the users to set a PIN and touch ID to enhance the safety of the cards. The option is also present in the Venmo credit card. In case you have forgotten the PIN and want to reset your PIN then simply give it a call at 855-878-6462, this is a number for Synchrony Bank, and they will help you reset your PIN.

Is using a credit card on Venmo a cash advance?

No, Cash advance means when you use the credit card at the ATM to get the cash and Venmo charges certain fees for this service. When you use the credit card on Venmo to pay someone then this is a different service although the credit card company asks for additional money for making payments to others with the credit card. However, you can avoid this by using more Venmo debit cards.