How much Venmo credit card fee Annually -International fees [2024]

How much Venmo Credit Card fee?

Users who are using the latest version of the Venmo credit card, who have verified their identification, and who live within the US or the US territories can use the Venmo credit card. 

Venmo credit card offers 3 percent cash rewards on the top most spend category of users, two percent cash reward on the second top spend category, and $10,000 on a combined spend category over an entire cardholder year. On other spending or purchases, you can earn a one percent cash reward. 

Venmo credit card does not charge an annual fee. However, users who prefer making payments through Venmo credit card have to pay an additional amount of $10 or five percent of the spend on the total amount of each cash advance. 

Also Check:- What is Venmo credit card limit? How to increase Venmo credit limit?

Venmo credit card fee calculator

Now users can easily calculate the Venmo credit card fee. Venmo app has launched a calculator through which users can know what amount they charge over their transactions. The Venmo credit card fee calculator will help you understand everything, for example, the fee charged, through the Venmo calculator. 

Look down to calculate your fee;

Either you can calculate your fee or leave it on Venmo. It is better to go by the digital process. So, leave it on Venmo to calculate your fee. Venmo uses a method known as ‘daily balance’ to calculate your fee. You can look for the Venmo credit card agreement for further details. 

Business credit card fees

Venmo does not charge an extra fee for the setup of the business account. For every transaction, a seller fee of 1.9% and $0.10 is paid. For instance, if a person pays you $50 then you have got only $48.95. This is calculated by $50*1.9% this will be $0.95 and an additional $0.10, the total is $1.05 that is deducted.

A business Venmo credit card is free of cost as there will be no annual charges that you have to pay for the usage of the credit card. However, a company charges 3% for sending money to another individual for purchases or for paying any dues.

Also Check:- Venmo Debit Card Fees

Venmo credit card processing fee refund

Venmo gives you the privilege of a credit card and you can use it for making purchases and paying later. There are certain fees that you have to pay with a credit card. Venmo charges three percent more for every transaction done with the Venmo credit card. But are the fees refundable?

No, the fees that are once paid for the transaction cannot be refunded as these are the expenses that the company transfers to the individual who is making the purchase. These charges are paid by the user and the company does not return that money. So, make the purchase with a credit card while keeping charges in mind.

Venmo credit card late fee

Venmo is a mobile payment app that is used for splitting payments between friends and family. The company offers both debit and credit cards. There are no annual charges that the person has to pay for using the cards, it is absolutely free of cost. The company proffers different charges for business profiles and normal users as there are numerous transactions that are done by the business owners. So, the company offers them a privilege.

There is an annual percentage rate(APR) of 15.24% to 24.24%. Although there are no foreign transaction charges that you have to bear. However, in case you forget to make the payment on the due date then you may have to pay at most $40. You have to pay 3% extra money if you are doing any transaction with the Venmo credit card.

Venmo credit card fee cash advance

The Venmo credit card fee advance is the prime rate plus 20.99%. However, the advance fee will vary based on the market and the Prime rate.  

Credit card annual fee

There is no annual Venmo credit card fee that you have to pay when using the Venmo credit card. 

However, users will have to pay the Annual Percentage Rate. The APR for spend is the Prime Rate plus 11.99 % for Account Type 1, Prime Rate plus 17.99% for Account Type 2, and Prime Rate plus 20.99 % for Account Type 3.

Note that the APR will vary based on the Prime Rate of the market. So, you need to keep yourself updated with the variations. 

Credit card international fees

There is no Venmo credit card foreign transaction fee that you have to pay. If you wish to make foreign transactions, that is not possible with Venmo. Venmo allows users to make payments only when they are physically present within the US. Both the sender and receiver have to stay within the geographic limit in order to make payments. 

How to avoid Venmo credit card fees?

A person has to pay extra money in case of any transaction with a credit card. For every purchase, 3% is charged by Venmo as the company sheds its burden on Venmo Credit card users. You can avoid this extra money by using the Venmo account balance, the linked bank account, and the debit card. 

In any of these options, you can save 3% as there are no additional charges for using a Venmo debit card. The extra money is paid only for instant transfers on Venmo and for ATM withdrawals. Other than this you do not have to pay for online and offline purchases.

Venmo App FAQs

Is Venmo credit card free?

Yes, you can get the Venmo credit card for free. Apply for the credit card from the Venmo credit card section in the Venmo app. 

Does Venmo charge a fee for a credit card?

No, when you want to receive a Venmo credit card, no fee will be charged. After you receive the card, pay Venmo credit card payment fee: APR, cash advances, and the penalty fees.

Does Venmo charge 3% for credit cards?

Yes, you have to pay an additional 3% charge in case you have opted for payment with a Venmo Credit card. These charges are imposed by the company for making a transaction with the credit card. This is a fee that you have to go as the credit card company passes these charges on to the person who is using that credit card.

How do I avoid credit card fees on Venmo?

If planning to make a purchase with a Venmo Credit card then get ready to pay an extra 3% fee for the transaction. There is only a single way that you can choose to avoid these charges which is to use your debit card or Venmo balance to make the payment if you will continue the purchase with the credit card then you have to bear extra expenses.

Can I Venmo from a credit card?

Yes, it is possible to Venmo yourself along with the credit card. With Venmo, you can easily pay funds to your friends, and can also make online purchases. The first and foremost thing that you should have is a Venmo account but both accounts should be different to make the payment with the credit card. Then you can link your credit card with the Venmo account and pay to another account.