How to get Venmo Credit Card Cashback Rewards? (2024)

How to get cashback from Venmo credit card?

Venmo provides both credit and debit cards to its customer. Both the cards are free of cost but you do have to pay expenses. Venmo offers great deals as soon as you get your Venmo credit card. You do need to require a physical credit card to begin your shopping.

 You also get a privilege with a Venmo credit card as you can use the app QR code and begin your shopping and cashback. You do not have to do any extra afford to get the cashback, as Venmo automatically sends the cashback on your monthly statement for every purchase.

Venmo Credit Card Cashback Rewards

Venmo credit card cashback limit

Venmo wants that the customer gets the extra benefit if they use their credit card so they give cashback to its clients. There is a formula that Venmo uses to give the cashback that is 3-2-1, which means you get 3% cashback on your top-most purchase and 2% on the second top purchase ad 1% on all other transactions. 

In the first 12 months, you get the advantage of unlimited cashback but in the next year, the cashback is limited to $10000 with the specification of 3% and 2%. And further, after 24 months the slab gets to 1% of the purchase for the rest of the period.

Also Check:- How to Increase Venmo Credit Card Limit?

Venmo credit card cashback bonus

Venmo offers a credit card cashback bonus for every purchase. Venmo also introduced a new offer for a limited period that is if anyone applies for a new Venmo credit card before 31 December 2021, the person will get cashback in the category of 6-4-2%. However, the normal offer is 3-2-1% 

  • You will get 3% cashback for the highest transaction.
  • 2% for second-topmost purchase
  • 1% cash back for all the remaining purchases.

This is what you get in the initial year. After one year the cashback gets categorized as 3-2%. Venmo also sets a maximum limit of cashback in the second year which is $10000. After the second year, the company offers you 1% cash back for the remaining life.

Also Check:- How much Venmo credit card fee Annually?

Venmo credit card crypto cashback

Venmo also gives its customer an option to buy crypto as a cashback for a Venmo credit card. Here you have to change the settings and turn on “Purchase Crypto”. After every cash back you will get an option to buy crypto of your choice with the equivalent amount of cashback. You can also sell that crypto in case you want to. So, turn on the option and select the crypto coin to begin this service.

Venmo cashback credit card review

There are many websites that tell us customer reviews about the Venmo credit card so. Let’s dive and find out:

  • One of the customers says that the Venmo credit card is great for those who do a lot of transactions as they can earn good rewards, although the one who does less purchasing finds that flat-rate earnings are better than bonuses based on shopping. 
  • Many customers find it difficult to track the reward as they are based on categories. There should be a simple method to calculate the rewards so it becomes simpler for them to understand what they are getting every month as a reward.
  • On the other hand, a lot of people are happy that they earn a good amount as a cashback bonus as they use the Venmo credit card frequently. They also said this cashback helps them in earning extra rewards that they use for further purchasing. 

So, there are mixed reviews that you can see it totally depends on your Venmo credit card usage.

Venmo credit card cashback categories

Venmo has easier the process of cashback on Venmo credit cards by giving certain categories that make it convenient for people to calculate the cashback. Venmo gives you a cashback of 3% on your best-paid purchase, 2% on the second highest purchase, and 1% on all other purchases for the first year. Moving further, to the second year, Venmo gives only 3% and 2% cash back categories and from the third year onwards you will be left with 1% cash back for the rest of time. In the second year, the cashback is limited to $10000.

Also Check:- How to Get Venmo Credit Card?

Venmo credit card $200 bonus

Venmo had launched a scheme in which a person can earn cashback up to $200 in case the person does a purchase of $1000 in the first six months after getting the Venmo credit card. However, the chance to get the $200 is over now as Venmo has introduced the scheme only till 31 March 2022.

Venmo credit card rewards

With Venmo credit card, you can earn cashback rewards. The Venmo credit card allows users to cash in on several things that they buy. Based on their personal spending, users can earn cash back every month. The cash rewarded to the user’s account automatically gets transferred to buy Crypto from the user’s Venmo account.

Venmo credit card rewards categories

venmo credit card cash back rewards categories limit 2021

The Venmo credit card rewards program or categories help you earn cashback rewards. Users must prefer all the purchases that bring with it the opportunity to earn a cashback to get rewarded. And for every statement period or opportunity, users will automatically get back:

  • Three percent reward on the top spend category
  • Two percent reward on the second top spend category
  • One percent reward on all eligible purchases coupled with Venmo person-to-person transactions

After each statement period or opportunity to earn cash back, the reward will be automatically transferred to your Venmo account. 

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

Venmo credit card rewards limit

The Venmo credit card cash advance also imposes a limit. You cannot spend money above that limit. The Venmo credit card rewards limit is $10,000. You can either use the full limit to earn $300 cash back or break down the spending limit.

Venmo credit card double rewards

Venmo is now allowing users to earn double rewards. Now users can use their Venmo credit card to make purchases. On all eligible purchases, they can earn 6 percent cash back on the top spend category, 4 percent cash back on the second top spend category, and 2 percent cashback on the rest of the purchases throughout the year. 

Venmo credit card cashback rewards

The Venmo credit card cash back rewards include:

  • 3% reward on the top spend category
  • 2% reward on the second top spend category
  • 1% reward on all eligible purchases coupled with Venmo person-to-person transactions

Venmo credit card bonus

The Venmo credit card cash back bonus includes the opportunity of earning a double cash offer on spend categories. These include 6%, 4%, and 2% on top spend, second top spend, and rest of the purchases, respectively.

Venmo App FAQs

Does Venmo have a rewards program?

Yes, Venmo has a rewards program. Now, it even allows users to earn double cash as a part of the rewards program. 

Does Venmo count for credit card points?

Yes, Venmo does count for credit points. The credit score needs to be at least 690.

Does Venmo credit card have cashback?

Yes, Venmo provides credit card service to its customer that too free of cost. They do not charge any annual charges also. Venmo also gives its customer a chance to earn cash back for every purchase that they can further use for purchasing or buying crypto coins depending on your preference you can choose.

How much cashback do you get with a Venmo credit card?

Venmo gives cashback for every purchase. They have categorized it into three sections that are 3-2-1%. You get 3% for the top purchase, 2% for the second highest, and 1% on the rest of the transaction in the first year. However, it decreases to 3-2% in the second year and you also get a cashback limit that is $10000. After the second year you get 1% for the rest of the time period you will be using a Venmo credit card.

What bank backs the Venmo credit card?

Venmo is a mobile payment app that you can use for making online payments anywhere anytime. Venmo offers both debit and credit card services with no additional charges. Venmo credit card is backed by Synchrony Bank which generally issues it. Venmo offers great deals with the credit card it also offers cashback to its customers. You can earn unlimited cash back in the first year and it gets limited to $10000 after the completion of 12 months.

Author Profile

Raj Singh
Raj Singh is a highly experienced digital marketer, SEO consultant, and content writer with over 8 years of experience in the industry.
As a content writer, Raj has a talent for crafting engaging and informative content that resonates with audiences. He has a keen eye for detail and a deep understanding of SEO best practices.

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