Have you ever used Venmo? It’s an app that lets you send and receive money to your friends. If the concept sounds similar to Paypal, that may be because it’s owned by PayPal itself! On the app, sending and receiving money is free if you use a bank account. However, if you use a credit card to pay your friends, or if you want the funds deposited into your account faster than a day or two, there will be a slight fee.
Regardless, we just got word that Venmo is looking to create a credit card. There is no official word of this yet, so we have pretty limited information on this. We don’t know if there will be a sign up bonus, and we also do not know what the reward categories will be. We can assume that it will be backed by Synchrony as they are the holders of the PayPal credit cards.
Do you think it’s possible the Venmo credit card will allow card holders to send money to their friends without incurring a fee? One can only dream!
Would you get a card issued by Venmo? What features would you like to see on the card? Let us know below!
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