With Venmo Credit Card, You Now Can Earn More Cash Back by Splitting the Check | Credit Cards
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Feel awkward splitting the check? You probably shouldn’t anymore. With the Venmo Credit Card, cardholders can earn up to 4% cash back on eligible dining and entertainment expenses after they use the app to split costs with friends. The revamped rewards structure is available to new cardholders starting Oct. 15.
At a Glance
- The Venmo Credit Card has an updated rewards structure for new cardholders.
- Starting Oct. 15, new cardholders may earn up to 4% cash back when they make dining or entertainment purchases and split the transaction with friends via the Venmo app.
- The Venmo Credit Card has no annual fee or foreign transaction fees.
How to Earn 4% Cash Back With the Venmo Credit Card
To qualify for the 4% cash back with the Venmo Credit Card, there are two steps cardholders must take:
- Pay for eligible dining and entertainment expenses with the card to earn an initial 3% cash back.
- When it’s time to split the check, earn another 1% when using the split transaction feature in the Venmo app with friends.
Spending categories that qualify include food delivery and restaurants as well as event tickets and streaming services. After using the Venmo Credit Card on eligible expenses that earn 3%, cardholders can go to their Venmo app and access their credit card transactions through their money tab.
From there, cardholders can choose which transaction to split, then customize and send a message to their Venmo friend. The friend must pay their part within 30 days for cardholders to earn the extra 1%.
What Changed With the Venmo Credit Card Rewards?
New cardholders may qualify for up to 4% cash back on eligible purchases starting Oct. 15, Venmo says. This is a departure from its previous rewards structure. Whether you still qualify for the previous rewards structure or are moved into the new one depends on the date of approval.
- 3% cash back on dining and entertainment, plus 1% more when you split the bill with friends
- 3% when you check out with Venmo online or in other apps, or when you pay businesses on Venmo and use the Venmo credit card to fund the purchases
- 1% on everything else
Notably, these rewards are automatically added to your account daily after your transactions are completed.
Cardholders approved before September have the following rewards structure:
- 3% cash back for purchases in your top spending category
- 2% cash back for purchases in your second-highest spending category
- 1% cash back on all other eligible purchases and on Venmo person-to-person transactions
Under this structure, cash back rewards are deposited in users’ Venmo accounts at the end of the statement period.
There is no official word on existing cardholders qualifying for the new rewards structure. However, some reports note that existing cardholders may be able to opt in starting in 2027.
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Who Should Consider the Venmo Credit Card?
While new cardholders can now earn up to 4% cash back, the rewards structure has moved from more flexible to more stringent. Given the new rewards structure, Venmo users who primarily spend on dining and entertainment and use the app for splitting costs may benefit the most.
The information for the U.S. Bank Altitude Go Visa Signature Card has been collected independently by U.S. News and the card is not currently available on the site. The information has not been reviewed or provided by the card issuer and it is accurate as of the date posted.
