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We check out the new Venmo credit card an explain why it may not be as good as it looks. The card earns 3% and 2% cash back in your two biggest spending categories, but there is a catch. Venmo of course, is the popular peer to peer payment app that Gen Z’ers use.
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42 comments
Please make a checking account video
Cash app step your game up
Using Venmo with a credit card has a fee of 3%. I'm assuming that would be the case for this card as well so trying to game the system wouldn't make sense.
Great video. Your content was solid, as always, and your humor was on point!
My favorite part of this video is when he says you pick your favorite color 🙂
BBB star ratings are super biased, even Amex has 1 star average on there
I have multiple lines of credit with Synchrony and have yet to have an issue.
I would probably only get this card to increase my decrease credit utilization plus I am in college so this probably the best I can get.
The most comedic you've ever been
2 questions
1) Is this card better than BofA Cash Rewards
2) I went online to read about this card and said I did not qualify although I did not apply.
I have a promotion going with citi that i get 2.5% on everything with my citi double cash
What if you use it only to pay rent? Do you get 3x?
This card beats a lot of credit card "convince" fees, that's what I saw. My apartments charge a 2.5% fee for credit cards so I can make 0.5% cash back on my rent technically. Bills is the interesting category!
the Snails at 6:06 I didn't know they could get that big or that people would want one let alone more then one on there faces!
Yea cool a credit card but WHAT WAS THAT SNAIL CLIP HOLD UP
Come on man!
I'd be interested to know if plastiq qualify for 3%
Love the humor you add to the reporting of these things, even if I've seen one or two other people reporting on these things is still watch yours cause it's better lol
maybe I missed them but:
is there a foreign transaction fee?
is there a signup bonus?
if the answers are "yes" and "no" respectively, you'd be better off with the Bank of America Cash Rewards card. I dislike their website but the card is fine.
Those are pretty lame categories.
question, how is it easier to scan a QR code, log into Venmo, and transfer money than it is to ask the waiter/waitress to bill you separately? I think this card is the answer to a question that nobody with the problem solving skills of a 7 year old would ask.
I'm not crazy about Synchrony/GE Capital, but I can't argue with the rewards my Sam's Club MC gives me. Especially on gas as I drive a ton.
Best part 4:23 is where you asked rhetorically whether folks married with kids get an opportunity to split the check! 🤣🤣 The only check I've split in the last eight years is my paycheck (wife and three girls).
Seriously, the main PayPal product is vastly more useful (CC bonus categories), and Venmo is a redundant niche product for young singles who find flashy neon gimmicks appealing (why PayPal runs both in parallel is beyond the scope of this thread). Grownups in committed relationships and working professionals don't split checks. Usually the most well-heeled person covers the check for everyone out of largesse, or people pay their own way from the get-go, and I'm an engineer. Yes, I'm also a millenial (gray-haired, 1981 model year)
That lady with the slugs on her face…🤢
In other words don't get it.
Would of been nice if PayPal was a 3% eligible category.
When I heard you say Synchrony Back ….I just stop watching this video.
The 3% on Bills & Utilities is somewhat of a big possibility when it comes to cashback. For example, you could use Plastiq which has a rate of 2.85% for bills & utilities and this has a 3% of cash back.. for a whopping 0.15% and with that capped at 10,000 your max cash back will be… $15 …
I've realized, i've been watching too much Credit Shifu…
wait, wtf with the slugs. lol
The type of Beauty treatment at 6:06 should be cash only. That's a shady way of getting rid of wrinkles!
You should not refer to this card as a "credit card", it's a debit card!!
Got denied with credit score of 625 and it dropped my credit score by 25 points. Don’t play with this
I have the card, I use it for spending that doesn't get high bonuses on my other cards. I try to limit use to a couple times per month, so I earn at least 2% on all spend on this card.
The Venmo website mentioned "Other" as a category. Does Walmart Supercenter purchases fall under the "Other" category? If yes, will it give 3% cash back if Walmart is my top spend?
I’ve heard it’s fairly easy to get approved for this card since it’s through synchrony bank. My score is 720 haven’t applied for this though
I like the fact you’re laughing at the delusional babbling potato head president. It’s a disgrace having him in office
Do they do a soft or hard inquiry??
That comment about them being racist is the definition of jumping to conclusions😂
I have 6 synchrony credit cards, I’ve never had a issue. I’m not sure why others have. But synchrony bank has been amazing to me.
I just got it to increase my credit utilization. But I’m wondering if I can get money back on my rent since I pay it with Venmo? It looks like no.
Why isn't anyone talking about Venmo's promo?
The slugs 😳
I got the Capital One Venture for 2% on everything. Just got this Venmo card to use as my gas card. 3% cash back on gas would be nice and I don't think Ill have an issue with the 10k limit per year. Also Venmo charges 3% fee to use a credit card for peer to peer payment so that takes care of that.