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 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.
What is Venmo?
Venmo, a mobile app that allows users to easily make payments, is one of the most popular apps on the market. Created in 2009, Venmo has quickly become a staple in the lives of millennials and Generation Z.
Venmo is available on both iOS and Android platforms and can be used to pay for goods and services, as well as transfer money between friends. Venmo also offers a variety of fun features, such as peer-to-peer payments and gift sending.
What is Visa Best Buy Credit Card?
The My Best Buy Visa card is a general-use credit card issued by Citibank that can be used anywhere and gets 5%–6% rewards on Best Buy purchases, 3% on gas purchases, 2% on grocery and dining purchases, and 1% on everything else.
It has a $0 annual fee. Good credit or better is required for approval. Best Buy® Credit Card is part of the Visa network, so can be used anywhere that accepts Visa.
What’s the difference between PayPal and Venmo?
PayPal owns Venmo. PayPal is widely used by businesses and individuals for online transactions. Venmo is used more frequently for peer-to-peer transactions. You can use credit cards on both platforms. PayPal allows significantly higher payments than Venmo and can be used by those living outside the U.S.
You may like to read about the Paychex flex support
What credit score do I need to get a Best Buy Citi Credit Card?
Best Buy doesn’t specify a credit score range for eligibility. But its closed-loop and open-loop offerings suggest you can qualify for at least some version of the card with less-than-great credit.
“Closed-loop” store card, meaning it’s accepted only at Best Buy and BestBuy.com. There is no annual fee.
My Best Buy Citi Visa. This is an “open-loop” credit card, accepted anywhere that takes Visa. Read more articles on activateenter.