Venmo enables contactless payments and fast, easy money transfers. People rely on it to pay for goods and services or simply to transfer money to family and friends. It’s a convenient way to make digital payments using a bank account, debit card or even a credit card.
Using Venmo with a credit card is just as easy as using the platform to transfer money from your bank account. However, Venmo’s credit card option may not be the right choice in every situation.
Can You Use Venmo With a Credit Card?
Yes, you can use a credit card on Venmo. Adding a credit card to Venmo is a quick and straightforward process. Users can add cards on the Venmo app or through a web browser on a PC or mobile device.
Adding a Credit Card Through the Venmo App
To add a credit card via the Venmo app, follow these steps:
- Open the Venmo app.
- Tap on your photo or initials to go to the “Me” tab.
- Navigate to the Wallet section.
- Select “Add bank or card,” then select “Card.”
- Enter your credit card information. You can either enter the information manually or snap a photo of the card and upload the information.
Adding a Credit Card Through a Web Browser
You can also add a credit card through a web browser by going through the following steps:
- Go to venmo.com and log in to your account.
- Go to your payment methods.
- Select “Add bank or card” and then select “Debit or credit card.”
- Enter your credit card information.
Is There a Fee To Use a Credit Card on Venmo?
You will often be charged a fee for using a credit card on Venmo — but not always. You will typically incur a 3% fee when paying for goods or services through Venmo with a credit card. However, this depends on the merchant you are purchasing from and the credit card you are using.
Venmo will waive that fee for its authorized merchants. If users make a purchase from an authorized merchant, they will not face the usual 3% transaction fee for using a credit card.
It’s always a good idea to check with your credit card company to find out whether it charges additional fees as well. Some credit cards charge cash advance fees when users make payments with a credit card over Venmo. In most cases, a transfer fee is between 3% and 5% of the sum advanced.
Can You Transfer Money From Your Venmo Account to a Credit Card?
Venmo users cannot transfer money from their Venmo account to a credit card.
However, you can transfer funds to a bank account. To do that, you will need either a debit card or a bank account attached to your Venmo account.
Note that Venmo charges a fee of 1.75% to transfer funds to a debit card. Venmo automatically deducts that fee from the transfer amount. There’s a cap of $25 on the transfer fee, so users transferring large sums of money may end up paying less than 1.75%.
There is no fee when users transfer funds straight to a bank account. However, instant transfers will incur a 1.75% fee with a maximum of $25.
A standard, or non-instant, transfer takes between three and five business days.
Can You Use the Same Credit Card on Multiple Venmo Accounts?
No, Venmo restricts users to one Venmo account per credit card. If a credit card is already linked to a Venmo account, it can’t be used on another Venmo account.
What Is the Venmo Credit Card and How Does It Work?
Venmo has its own credit card. The card is Visa branded and designed to be integrated into Venmo so that users can manage their credit card accounts directly from the Venmo app.
The Venmo credit card provides a line of credit of at least $250 and offers rewards like cash back on purchases. The card makes it easy to split bills with friends or to make purchases using the funds in a Venmo account.
- Can I use a credit card to pay someone on Venmo?
- Venmo users can use a credit card on Venmo to pay someone. Venmo allows the use of credit cards to pay for goods and services or simply to transfer money.
- Is it worth using a credit card on Venmo?
- Using a credit card on Venmo is convenient and easy, but you may want to avoid it if you are watching your budget. Using a credit card typically comes with a 3% transaction fee. However, Venmo will waive that fee if you make your purchase through one of its authorized merchants.
- Can you use a credit card on Venmo or PayPal?
- Yes, you can use a credit card on both Venmo and PayPal. PayPal allows users to make payments using a bank account, debit card or credit card. Users can also make payments using a PayPal balance or rewards balance.
- Venmo also allows users to make payments with a bank account, debit card or credit card. The company reserves the right to decline a payment method for reasons including funds availability or fraud concerns.
Information is accurate as of Aug. 2, 2023.
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