The Venmo Virtual Card is essentially a virtual clone of your physical Venmo credit card, granting you access to all its features even before it arrives in your mailbox. So, in this guide, you will learn how to use Venmo virtual card accurately and enjoy its rewards.
Generally, once you’ve applied for a Venmo credit card and received approval, Venmo provides you with a unique virtual number that you can use to make online purchases and payments while eagerly awaiting the arrival of your physical card.
Let’s clear up any potential confusion. The Venmo Credit Card we’re discussing here is distinct from the Venmo Debit Card, which was introduced back in 2018. While the debit card is issued by Bancorp Bank and functions as a Mastercard, the virtual card we’re focusing on today enhances your Venmo experience in an entirely different way.
How to use Venmo virtual card
Once you have received approval for the Venmo Credit Card, you can access a virtual card number right within the Venmo app. This number serves as a digital version of your card and can be used for online purchases. If needed, you also have the option to request a new virtual number, which automatically deactivates the previous one.
Finding your virtual card details is quite easy, simply navigate to the Venmo Credit Card section in the Venmo app.
To view the virtual card number, expiration date, and CVV, you need to confirm the last 4 digits of your Social Security Number. After this, you can easily copy the card number and proceed to shop online.
1. Make payments
The virtual credit card number is automatically linked to your Venmo account, so you can easily make transactions from your credit card via the Venmo app. To make a payment, open the Venmo app and go to the “view and pay” section. From there, you can use your Venmo virtual credit card to complete your purchases.
Each transaction will incur a 3% fee. However, you won’t have to worry about annual charges, as there is no annual fee associated with the Venmo virtual card.
A big benefit here is that Venmo virtual card comes with zero annual fees, allowing you to enjoy its benefits without any additional costs.
2. Earn cash back rewards
You can use Venmo virtual card to set up recurring bill payments for your monthly expenses. You’ll automatically earn up to 3% cash back on payments you make with your credit card.¹ It goes straight to your Venmo account. You are free to participate in a personalized rewards program, earn cashback on transactions made in your top spending category, and receive rewards on other eligible purchases.
Your rewards can be applied toward paying your credit card bills, fulfilling Venmo requests, making payments to merchants, cashing out to your bank account, or even purchasing cryptocurrency.
3. Use credit with friends
With Venmo virtual card, you can split credit card purchases with friends who use Venmo, and pay or get paid back with Venmo. Simply apply payments from your Venmo friends to your Venmo account or directly to your credit card bill, whatever you decide.
4. Make payments to other Venmo users
You can make payments with your Venmo virtual card. Since your Venmo virtual card is automatically added as a payment method on Venmo as your credit card. That means you can use your card to make payments to friends and authorized merchants using the Venmo app. You may also be able to get cash from your credit card without fees.
5. Use Venmo virtual card on another virtual wallet
You have the option to add your Venmo Credit Card to virtual wallets like Samsung Pay and Google Pay, expanding the ways you can conveniently use your card for payments.² However, please note that not all virtual wallets support the addition of the Venmo Credit Card.
So, if you have any inquiries regarding adding your card to a specific virtual wallet, then it’s best to reach out to Venmo or the respective virtual wallet provider for assistance.
Now that you have an idea of how to use your Venmo virtual card, let’s dive into some other details associated with the card.
How to apply for the Venmo credit card
If you’re interested in getting your hands on the Venmo Credit Card, the application process is simple and convenient. Just follow these steps:
1. Verify your eligibility
You should be at least 18 years old, residing in the United States, and have an active Venmo account that is in good standing. Venmo account should be at least 30 days old.
2. Apply for Venmo Credit Card
You can apply directly through the Venmo app. Look for the option to apply for the Venmo Credit Card, and follow the prompts to complete the application.
3. Activate your Venmo Credit Card
For the virtual card, all you need to do is to view it on the Venmo app by confirming the last 4 digits of your Social Security Number and you can use it right away. But things are a little different with the physical Venmo credit card.
Once you’ve received your physical Venmo Credit Card, activate it and start using it for your transactions.
How to activate Venmo virtual card
First, you have to activate the physical card, that’s the Venmo Credit Card, which facilitates this virtual card. According to Venmo, “Your Venmo Credit Card account may have a lower credit limit until you receive and activate your physical card.”³
1. Scan the QR code
Using your phone’s camera or the QR code scanner within the Venmo app, simply scan the QR code located on the front of your card. This will initiate the activation process.
2. Enter the CVV code
Alternatively, you can activate your card by entering the three-digit CVV code within the Venmo app. Follow the provided instructions to activate your card using this method.
Furthermore, if you prefer to activate your card by phone, you can contact Synchrony Bank at 855-890-6779.
Where can I use my Venmo virtual card?
Your Venmo virtual card (Credit Card) can be used wherever Visa credit cards are accepted, both online and offline. You can use it for payments within the Venmo app when making transactions with friends or authorized merchants.
Moreover, you can use your Venmo virtual card for purchases internationally outside the United States. Plus, there are no foreign transaction fees, making it convenient to use Venmo virtual card.
What to know about Venmo virtual card limit
When you receive approval for your Venmo Credit Card, the starting limit will be at least $250 or higher. However, there are a few factors that determine your specific credit card limit.
a. Activation and physical card
Your credit limit may be initially lower until you receive and activate your physical card. You can view your current credit limit in the Venmo Credit Card section of the Venmo app.
b. Credit score and income
Your credit score and income also play a role in determining your credit card limit. The higher your credit score and income, the higher your credit card limit is likely to be.
The good news is that you can increase the credit limit on your Venmo virtual card. To increase the credit limit on your Venmo Credit Card, you have a couple of options. If eligible, you can request a credit line increase directly in the ‘Credit Card’ section of the app. Or, reach out to Synchrony Bank to request a credit line increase.
Here’s something to keep in mind though- When you request a credit line increase, it won’t result in a hard inquiry on your credit, meaning it won’t negatively impact your credit score.
However, your request may be approved, or declined, or you may receive a lower credit line increase than what you requested.
If your request is declined or you’re given a lower amount, Synchrony Bank will send you a letter, either physically or electronically, explaining their decision within 7-10 business days.
Venmo cash back rewards on your Virtual card
Venmo offers cash-back rewards based on your spending activity.
1. Categorized rewards
Venmo categorizes your purchases into different categories such as travel, utilities, groceries, and more. You can earn 3% cash back on your highest spending category, 2% on your second-highest spending category, and 1% on all other eligible purchases during the billing period.
2. Reward redemption
Cash rewards are transferred to your Venmo account at the end of each billing period. You can use these rewards just like your Venmo balance, whether it’s to pay friends, shop online, or transfer money to your bank account or debit card.
You also have the option of converting your rewards cash in into crypto.
Remember, the amount of cash back you earn will depend on your monthly spending patterns.
Why is the a pending charge on my Venmo virtual card?
When you make a purchase using your Venmo Credit Card, the merchant checks if your card is active and working by putting a temporary hold on the initial purchase amount.
This is called a pending charge (authorization) and is displayed in your transaction history. The charge remains pending until the transaction is completed by the merchant and the actual amount is posted.
Look out for Venmo hold on your virtual card though
The reason you will get a hold on your Venmo credit card is that the merchant doesn’t receive the funds from your card immediately. They only get the money when they complete the transaction and capture the final amount. Once the merchant captures the authorization, you will see the purchase as a finalized transaction in your Venmo app.
Transactions are usually captured by merchants within 1-7 business days, so if your transaction is still pending after 7 business days, then reach out to the Venmo customer support team.
Sometimes the final amount you’re charged may differ from the initial authorization.
This is because certain merchants place a temporary hold for a larger amount to cover additional expenses or tips. For example, this can happen at places like fuel stations, restaurants, hotels, and the like.
However, no additional charges take place, or if you tip more or less than the hold amount, the final transaction amount will reflect that difference.
How to protect your Venmo virtual card
While you use Venmo virtual card to send funds, earn rewards, etc., you want to look out for your account safety like any other online platform. Let’s say you notice an unauthorized activity on your card. First things first, Venmo won’t hold you responsible for any unauthorized transactions on your account, but you will be held accountable for any usage authorized by individuals you allow to use your account.
When you notice any unauthorized activity on your Venmo credit card, the first thing to do is to temporarily disable your card. You can do so in the Venmo Credit Card section of your Venmo app. Return to the same section when you’re ready to re-enable your physical card.
Next, contact Venmo support team or Synchrony Bank at 855-878-6462 to report any unauthorized transactions on your Venmo credit card.
How to get a new virtual card number for Venmo Credit Card
If you want a new virtual card number for any reason, like if your current one is compromised or you simply prefer a fresh number, you can easily request a new one in the Venmo Credit Card section of your Venmo app.
You can only make one request every 24 hours. Also, requesting a new virtual card number will deactivate your previous one. However, it will not affect your physical card number.
What’s the difference between Venmo virtual card and Venmo credit card?
The main difference between physical and virtual Venmo credit cards lies in their form and usage.
The physical Venmo credit card is a tangible card made of plastic that you can hold in your hand. It functions just like any other credit card and can be used for in-person transactions at any place that accepts Visa cards. You can swipe or insert it into card readers, and it also has an EMV chip for added security. The physical card is mailed to you and typically takes some time to arrive after you’re approved for the Venmo Credit Card.
On the other hand, the virtual Venmo credit card exists only in the digital realm. It is a virtual replica of the physical card that is available for immediate use in the Venmo app, even before the physical card arrives.
With the virtual card, you can make online purchases within the Venmo app or use the card details for other online transactions. It provides a convenient way to start using your Venmo Credit Card right away, without having to wait for the physical card to be delivered.
Read also: you can’t fund a Venmo card at Walmart
Ultimately, your Venmo virtual card gives you access to the same credit line and offers the same benefits as your physical Venmo Credit Card. Make sure to practice good security habits when using any digital payment method. Be cautious of phishing attempts, only make transactions on secure websites or trusted merchants, and regularly monitor your account for any suspicious activity.
Read also: steps to fund your Venmo from bank
Resources
- Venmo Credit Card Benefits. Venmo
- Using your Venmo Credit Card. —Venmo
- Getting Started with your Venmo Credit Card. Venmo
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