Venmo is now providing a bank card.


Venmo has unveiled a new credit card, with the funds app firm emphasizing rewards and comfort. The Visa bank card is “tremendous social,” Venmo mentioned Monday, with customers capable of handle the cardboard by way of their Venmo app.

There’s no annual fee and you can “earn major rewards,” Venmo mentioned within the YouTube announcement video, with as much as 3% money again. It will calculate your rewards based mostly on what you are spending essentially the most cash on — the video exhibits 3% money again on groceries, 2% on transportation and 1% on “every little thing else.” It provides: “Quantities and classes can change relying in your spending, changes and returns.”

You should use the money again to pay your bank card invoice, and buddies may also ship cash through the Venmo app by scanning your bank card with their cellphone. Every card has a QR code on the again.

It is available in quite a lot of colours — the video exhibits pink and purple, black and grey, darkish blue and lightweight blue, pink and white, and inexperienced and blue choices. 

Learn extra: Best credit cards for October 2020

The Venmo bank card shall be supplied to eligible app customers over the following few months.

This is how to get a free, weekly credit report for the next 12 months.

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Corinne Reichert