Targeted $150 Bonus for the Venmo Credit Card
Venmo recently released a credit card for select customers. The Venmo Credit Card lets you earn cashback rewards and syncs seamlessly with the Venmo app. The card has an interesting earning structure, but the lack of a signup bonus at launch made it easy to just skip it. But now some people are receiving emails from Venmo with an offer to earn $150 when applying for the card before January 15. Let’s take a look at the details of the offer.
The Offer
You’re invited to apply for the new Venmo Credit Card. Earn a $150 cash back bonus after you spend $1,000 in the first 180 days of account opening. Apply by January 15, 2021 to be eligible.
Key Terms
- To qualify for this offer, you must apply for a new Venmo Credit Card account by 11:59 p.m. ET on January 15, 2021, and subsequently be approved.
- Offer may only be redeemed by the eligible participant, such eligibility to be determined by Venmo in its sole discretion.
- Cash advances do not qualify towards the net eligible purchases of $1,000.
- Fulfillment of the reward via an automatic transfer to the Venmo account will occur no later than 45 days after net eligible purchase qualification threshold is met.
- Both your Venmo account and the Venmo Credit Card account must remain open, be in good standing, and not become delinquent at the time the reward is awarded.
- This promotional offer is in addition to and does not replace the Cash Back Rewards program as detailed in the Rewards Program Terms.
Card Benefits
The Venmo Credit Card offers up to 3% in cash back. Here’s the breakdown:
- 3% cash back on the category in which you spend the most
- 2% back on the second-highest category
- 1% back on all other purchases
- No annual fee.
The first and second highest spending categories will be automatically detected each month based on where you spend the most. So you do not have to activate any categories. There are a total or 8 categories available: grocery, dining and nightlife, travel, gas, transportation, bills and utilities, health and beauty, and entertainment. Throughout the month, you’ll be able to see what your top spending categories are.
Conclusion
The Venmo Credit Card has an interesting earning structure with up to 3% cash back on the category you spend the most throughout the month. There are no limits stated and some popular categories are included, such as grocery, dining, travel, gas, and more. That’s pretty good for a no fee card. With a $150 bonus it could really make sense for those that have lots of spend on any of the eligible categories.
Check your emails for this offer. Subject is “<Name>, you’re invited! Earn a $150 bonus with the new Venmo Credit Card.”
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