Synchrony Venmo Visa Credit Card Review
2021.6 Update: The sign up bonus is double cashback before 2021.12.31 (from 3%/2%/1% to 6%/4%/2% cashback).
Application Link
- You need to go to your Venmo app to apply for this card. Here is its official web page: Synchrony Venmo.
Benefits
- The sign up bonus: double cashback before 2021.12.31 (from 3%/2%/1% to 6%/4%/2% cashback).
- Automatically earn up to 3% cash back on your top spend category, 2% on the next, and 1% on the rest, per monthly statement period. The categories are:
- Dining & Nightlife,
- Travel,
- Bills & Utilities,
- Health & Beauty,
- Grocery,
- Gas,
- Transportation,
- Entertainment,
- Other (Note that you can’t earn 3% or 2% cashback on “other” category).
- The QR code on your card is your Venmo QR code, and you can use it to receive money. This is a cool feature.
- No foreign transaction fee.
- No annual fee.
Disadvantages
- There is an annual spend limit of $10,000 in your combined 3% and 2% Spend Categories beginning the first Statement Period following your Anniversary Date.
Summary
This card seems nice for a lazy newbie. However, in most of the categories there are better cards earning more than 3%. For people who plan to spend a lot of money on some specific categories, the upper limit of $10,000 per year seems low. Considering this card does not have any sign up bonus, please think again whether you want to apply for it.
Historical Offers Chart
Application Link
- You need to go to your Venmo app to apply for this card. Here is its official web page: Synchrony Venmo.
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