Yes, you can use a credit card on Venmo, but it might not be the best idea to do so. It’s the only payment method that’s going to cost you extra to use, as Venmo charges a 3% fee on any funds you send with a credit card (no fee from your card issuer since it’s a purchase rather than a cash advance). So you’re better off using a debit card, prepaid card or bank account to fund your Venmo transfers if you’re able to.
There are some situations when the 3% credit card fee won’t apply, though. You won’t have to pay it if you buy something through a merchant’s mobile website or app that displays the Venmo logo as a payment method (and PayPal, too, in some cases). In order to use your credit card with Venmo, you’ll have to link it to your account first, which is an easy process.
Here’s how to use a credit card on Venmo:
- Tap the icon that looks like 3 horizontal lines in the upper left corner of the app.
- Hit “Settings,” then “Banks & Cards.”
- Tap “Add Debit or Credit Card.”
- Enter your card number, expiration and security code.
If you’d like to set your credit card as your primary funding source for Venmo, there’s an option for that under “Banks & Cards.” Then, any time you want to send money with Venmo, your credit card will be the default. As always, though, just be mindful of how much of your credit line you’re using.
Lastly, if you’re wondering about the best credit card to use on Venmo, you should look for a card with consistently valuable rewards, like Citi® Double Cash Card – 18 month BT offer or Capital One® Venture® Rewards Credit Card.