What Are Venmo Rewards?
There are certain kinds of rewards that Venmo offers to cardholders. Some of them are:
From the top spending category of a cardholder from a list of eight, the user can earn 3% cashback. In the next top spending category, Venmo offers a cashback of 2%. In addition to the above-given cash backs, Venmo provides 1% cashback on all other purchases by the cardholder.
Bonus Rewards by Venmo
There are eight categories prescribed by Venmo for which the company offers bonus rewards to its users. They are:
Travel includes the whole expenses while traveling, such as flight expenses, hotels, motels, resorts, etc. It is to be noted that this reward does not apply to cruises. Dining is inclusive of dine-in, parcel service, delivery, and bars. Bills which commence right from the electricity bills till the internet servicesGroceries are an exhaustive category, from supermarkets to convenience stores and bakeries. Health concerning acts like health clubs, drug stores, pharmacies, tennis, etc. Gas (but does not include if the cardholder purchases gas from warehouse clubs or discounters, i. e. , he must have purchased gas at its original price). Transportation includes not only the transportation services but also charges like tolls and parking fees. The entertainment sector contains movie theatres, books, game stores, toys, etc.
How To Redeem the Rewards?
Once a Venmo cardholder purchases a product eligible for cashback, the cashback so received will be reflected in his/her Venmo account within three business days from the date of such a purchase. The amount so deposited in the Venmo account of the cardholder can be used not only for making purchases but also to transfer the money to other Venmo users or his bank account or debit card. The redemption can be made for cryptocurrency as well. Once the user chooses redemption in the form of cryptocurrency and sets up a cryptocurrency hub to use the reward, the cashback transferred to his/her Venmo account will automatically be used to purchase the crypto at the end of every month. Interestingly, there will be no crypto transaction fee imposed for doing this. There is no expiration for a reward earned on the Venmo credit card until the account is open and in good condition.
Other Benefits
The credit card of Venmo is being protected by several means. Those are:
There is additional protection from identity theft. Once the cardholder enrolls in this service from Norton LifeLock, the complimentary service of credit monitoring assistance for identity security is provided. Emergency services are made available 24 hours a day, 365 days a year. The wire cash transfer service is also made available at the nearest locations of the cardholder in case of emergency. Card replacement can be made at ease, and it can be shipped within 24 to 72 hours. For Audi rental car service, the cardholder can earn a discount of up to 15%. There are golf benefits through Troon Golf Benefits, which allows 10 % off at over 95 golf courses across the world. There can be a room upgrade and food and beverage credit at the Luxury Hotels.
Conclusion
Venmo, in its journey from 2009 to the present, has shown a dynamic change in its business strategies and growth. Regarding the rewards that Venmo provides through its debit card and credit cards, the strategy has helped in the wide acceptance of Venmo cards by the customers. The rewards, including cashback, bonuses, and discounts which can be used even to satisfy certain necessities, play a great role in the success of Venmo. Due to zero annual fee for the cards and no expiry for the rewards, the customers seem to be highly interested in trying the program at least once.
How much cashback can I receive for Target?
Venmo Rewards offer 5% cashback at Target, which can be available to you once you are eligible for Venmo Rewards.
Is there any annual fee payable for Venmo cards?
No, there is no annual fee for Venmo cards.
Is there an expiry for my Venmo Credit Card Rewards?
There is no expiry for the Venmo Credit Card Rewards. The cashback rewards will be added to the Venmo account at the end of each statement period, and then they can be used for various purposes.
Can I avail of rewards of Venmo Credit Card with my Venmo Debit Card?
No, the rewards programs for the Venmo Credit Cards and the Venmo Debit Cards are separate; hence a reward available to one cannot be availed by using the other.
I have certain queries regarding my Venmo Credit Card Reward. Whom shall I contact for the same?
For any queries concerning the Venmo Credit Card Rewards program, the cardholder can contact 855-878-6462.
Is there any limit on cashback that I obtain?
There are limits for certain offers. It is dependent upon the terms and conditions of each offer.
Are the online purchases also eligible for cashback?
There can be cashback for eligible online purchases. The customer has to check the offer in detail to check if there is a cashback for the online purchase in that particular case.
