Venmo Credit Card
Venmo
Data verified on unchanged since the sources
Worth it if you're in the US inside the Venmo ecosystem and want up to 3% cashback (3/2/1 by category), redeemable in BTC/ETH, with no annual fee.
Avoid it if you're in Italy (US-only), carry a balance (APR up to 28.49%), or don't want to handle taxes on crypto received as cashback.
The Venmo Credit Card (issued by Synchrony Bank), part of the PayPal group, offers tiered cashback up to 3%: 3% on your top spending category each month, 2% on the next and 1% on everything else, with categories adjusting automatically to your spending. Cashback can optionally be auto-converted into BTC, ETH, LTC or BCH (crypto fees waived on that conversion). No annual fee. It is available only in the US, charges an APR of up to 28.49% and carries tax implications on gains realized when selling crypto.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | No |
| Interest on balance | 0% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | US · 1+ countries |
| Regulator | FinCEN / OCC / SEC |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | PayPal subsidiary |
Plans & pricing
Strengths
- Up to 3% cashback (3/2/1 by category), optionally in BTC/ETH/LTC/BCH; $0 annual fee.
- No notable sovereignty advantage documented.
Weaknesses
- US only; APR up to 28.49%; taxes on crypto sold.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
Verdict
The B rating reflects a PayPal-group product with an appealing mechanism — tiered cashback up to 3% (3/2/1 by category), with optional conversion into BTC, ETH, LTC or BCH and no annual fee — but with hidden costs that weigh on the consumer: APR up to 28.49% and tax implications on gains when selling the crypto. US-only.
The crypto cashback stays fully custodial and carries the lowest privacy score in the group: the user accrues BTC or ETH that cannot be self-custodied, and every move routes through PayPal with full KYC. It is crypto exposure packaged in a card product, not sovereignty.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Venmo Credit Card, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
History not verifiedWe have not yet completed the incident search for this service: no entries here does not mean no events.
Public reviews
-
App Store ↗
4.8/5
15,472,396 reviews
US storefront, from iTunes lookup: averageUserRating 4.84825, userRatingCount 15,472,396. Measures the Venmo app as a whole, not the credit card alone.
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Google Play ↗
4.0/5
923,780 reviews
Structured aggregateRating data with gl=us: ratingValue 3.997, ratingCount 923,780 (the visible label is rounded). Measures the Venmo app as a whole.
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Trustpilot ↗
1.1/5
1,291 reviews
Read on uk.trustpilot.com. The venmo.com profile covers Venmo in general, not the card; Venmo does not invite customers to review, so the sample skews negative.
Weighted average across 3 public review platforms (16,397,467 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Is Venmo Credit Card a real bank?
Venmo Credit Card operates under a PayPal subsidiary licence (US). The deposit-protection scheme is not documented for this service; check the official terms.
Can I send transfers to third-party IBANs with Venmo Credit Card?
Yes, Venmo Credit Card allows outgoing transfers to third-party IBANs, like a traditional bank account.
Does Venmo Credit Card support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Venmo Credit Card support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not supported.
Can I withdraw crypto on-chain from Venmo Credit Card?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · Copy Data verified on Jun 15, 2026
- help.venmo.com Cashback Data verified on Jul 17, 2026
- accel.com Founders · Issuer Data verified on Jun 14, 2026
- hackerone.com Bug bounty Data verified on Jun 14, 2026
Show 3 more sources
- trustpilot.com Trustpilot reviews Data verified on Jun 14, 2026
- untaylored.com Founders · Issuer Data verified on Jun 14, 2026
- wallstreetzen.com Issuer Data verified on Jun 14, 2026