Can You Use a Credit Card with Your Venmo Account?

If you aren’t using Venmo with your credit account you could be missing out on a convenient way to send money. Here’s what you need to know about Venmo and credit card accounts.

By now, most people have probably heard of Venmo — the payment app that makes it easy to split the bill for a meal or pay back a friend for concert tickets she purchased. When you set up your Venmo account, you can attach it to a bank account (no fee), a debit or prepaid card (3% fee waived, so no fee), or a credit card (3% fee). In a simple answer, yes, you can use a credit card with your Venmo account. You might want to know more of the details, so we have compiled a short list of things to consider when using your credit card with your Venmo account.

First, you will have to attach your credit card to your Venmo account. You can do this pretty simply by tapping the icon of three horizontal lines in the upper left corner of the app. Clicking "Settings," then "Banks & Cards," and then "Add Debit or Credit Card." Once you have entered the card number, expiration date, and security code, it is now a payment option on your Venmo account.

If you use your credit card to send money to your friends or family, you will be charged a 3% fee. By contrast, if you use your Venmo account balance, a debit or prepaid card, or a bank account, there is no fee. That means that if you are trying to pay your friend $100 with a credit card, it will actually be $103, whereas it would be just $100 with any other type of payment.

You can, however, use your credit card through your Venmo account through purchasing merchants. For example, if you see a Venmo button, and oftentimes a PayPal button, you can use the credit card attached to your Venmo account without getting charged at all.

Finally, it is important to remember that you cannot transfer funds from your Venmo balance to a credit card. You can, however, transfer to a debit card (with a small fee) or to a bank account (with no fee).

Ultimately, while you can indeed use a credit card with your Venmo account, it is important to remember when it is going to cost you an extra fee and when it is at no cost to you. And it is good to remember that you will need a bank account or a debit card in order to receive funds from your Venmo balance. A credit card alone will not quite do the trick.

Ready to find the perfect card?
Ready to find the perfect card?
Compare cards for all credit ranges.
Advertiser Disclosure:

The credit card offers that appear on this site are from credit card issuers from which CardGuru.com receives compensation. This compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. CardGuru.com does not include all credit card offers that might be available to consumers in the marketplace.

Editorial Note:

Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.