Venmo Rewrites Credit Card Rewards for New Applicants

Venmo is offering two very different rewards programs based on when customers receive approval for its credit card. The big dividing line was Sept. 24, 2026.

Applicants approved before this date will continue to earn top rewards in their top spending categories.

Spend categories include dining and nightlife, travel, bills and utilities, health and beauty, grocery, gas, transportation, and entertainment.

Each statement period, these Venmo credit card customers earn 3% cash back on purchases they make in their top spending category and 2% cash back on purchases they make in their second-highest category.

How Venmo Credit Card Rewards Changed

Source: Venmo Credit Card Rewards Program; Synchrony Bank rewards terms.

Reward	Approved before Sept. 24	Approved after Sept. 24
Top spending category	3%	No top-category rate
Second-highest spending category	2%	No second-category rate
Dining and nightlife	3% if top; 2% if second; otherwise 1%	3%
Entertainment	3% if top; 2% if second; otherwise 1%	3%
Eligible Venmo checkout and business payments	Varies by spending category	3%
Dining or entertainment split bonus	Not offered	Additional 1% if friends pay within 30 days
Other eligible purchases	1%	1%

Let’s say a Venmo credit card customer’s top spending category is travel, followed by entertainment. This cardholder would earn 3% cash back on eligible travel purchases and 2% cash back on eligible entertainment purchases.

In addition, these customers earn 1% cash back on all other eligible purchases made with the Venmo credit card and on eligible Venmo person-to-person transactions. Venmo charges a 3% fee on person-to-person payments funded with the credit card.

For these customers, the cash rewards earned are calculated at the end of each statement period and then added to their Venmo accounts.

Applicants approved after Sept. 24 have a very different rewards program. Gone are 3% cash back and 2% cash back for their top spending categories. Instead, these Venmo credit card customers earn 3% cash back on dining and nightlife purchases and 3% cash back on entertainment purchases.

They can earn an additional 1% when splitting one of those purchases with friends. To get that extra cash back, they must use the card’s Split Transaction feature, and everyone asked to pay must do so within 30 days of the purchase appearing in the cardholder’s Venmo account.

Venmo card customers approved after Sept. 24 also earn 3% when they use the credit card to check out with Venmo in other apps and online or to pay businesses on Venmo. These customers earn 1% on all other eligible purchases made with the credit card.

Rewards are calculated daily after transactions are completed. But a closer look at the Venmo credit card terms reveals that the cash back may not show up in a customer’s Venmo balance that same day.

Instead, rewards are generally moved to the Venmo balance within three business days. The terms allow up to two billing cycles after a reward is earned.

Whatever Venmo rewards program a customer has, their earned cash back rewards don’t expire. But rewards that have not yet been added to a Venmo balance may be forfeited if certain accounts are closed.

Venmo card customers may use cash rewards in their Venmo balances to make payments, make purchases, send money to other Venmo accounts, or transfer the money to a linked bank account or debit card.