Smart banking isn't something extraordinary nowadays, and almost every active millennial prefers online banking with a useful and friendly interface and fast transactions. The Venmo banking system, owned by PayPal, is making our life easier with their new free Venmo credit card.
What is a Venmo credit card?
Venmo, a subsidiary company of PayPal, is an innovative mobile banking system. With it, you can make payments, request or transfer money online momentarily. The company just launched its first Venmo Visa Credit Card with a QR code, up to 3% cashback on some purchases, and many other perks, such as customized offers and the smart tracking of your expenses.
What are the key features?
- Up to 3% cashback for 8 categories of purchases. Grocery, Bills & Utilities, Health & Beauty, Gas, Entertainment, Dining & Nightlife, Transportation, and Travel. Cardholders will earn 3% back on their top spending category, 2% from the second-highest category, and 1% on all other purchases, which makes the deal quite profitable. At the end of each month, you receive your cashback directly on your Venmo account.
- The smart system tracks your expenses in real-time and divides them into different categories so the cardholder can better analyze his/her personal financial situation within the Venmo mobile app.
- The Venmo Credit Card doesn’t apply the annual fee, however, the bank charges a fee for cash advances, returned payments, interests, etc.
- The Venmo Credit Card is equipped with an RFID chip for tap-to-pay transactions at point-of-sale that requires less contact with the terminal.
- Possibility to pay with this card even before its physical arrival. Moreover, if your Venmo Credit Card gets lost or stolen, you can immediately block or freeze it in the mobile app.
- Offers Visa Traditional Credit Card benefits, including 24/7 support, emergency cash, and a zero liability policy. It also offers lifestyle benefits for Visa Signature cardholders, such as Visa Luxury hotel collection with the best rates, car rentals with discounts, and much more.
- Accepted worldwide. You can pay with the Venmo Credit Card in more than 200 countries around the globe.
- Equipped with a personal QR code. Which makes it easier to share payments with friends, request money and send invoices.
- Customizable design. The cardholder can choose one of 5 card designs to make it look pretty.
How to get a Venmo credit card?
The Venmo Credit Card is not yet available for everyone but in the coming months, it will be. To get the card, you need to apply through the Venmo app, provide the information that you are at least 18 years old, live in the US, and have an active Venmo account for at least 30 days.
You can download the Venmo app for free.