In the last decade, online shoppers have grown accustomed to shopping on Amazon and other websites, but now one entity is looking to change that.
Venmo Debit Card Cashback Rewards
Venmo, a popular payment app that allows users to send money to each other with ease by attaching a debit card linked to their account, announced they’re opening payment stores this month. The company will offer cashback from as much as 20% on branded products and merchandise with no limit on how often or in what amounts you can use your rewards.
It is often difficult to find the best credit card for your needs and might feel like it’s hard to find time to research the right card. One option is to sign up for a credit card that has cashback benefits. Thanks to the Venmo app, you now have a better option: a credit card that also offers cashback rewards when you pay with Venmo! Apart from that, there’s a lot more to it that we will discuss in the following article.
Also Check:- How to Use Venmo Debit card?
Venmo Debit Card Cashback Stores
Using debit cards at different stores is quite normal for people with constant needs either in business or at home. Especially if you are a Venmo debit card user, getting to know some of the popular stores for earning cashback while shopping can be quite useful. Below we have listed some of the stores that may offer decent cashback rewards with your Venmo card.
Google One
The service works in conjunction with the Google Express shopping sites. These are basically online retail sites for specific stores, such as Target, Walmart, and Costco. You can order from these stores through the app, and if your purchase is over $15, you’ll receive 5% back on it the next month.
ShopBack
ShopBack behaves a bit differently from the other cashback services mentioned above. Remember that you can also save money when shopping at ShopBack. The only downside is that you need to register for the service after your first purchase. This can be difficult if you want to get cashback on your first purchase. But using a Venmo debit card on your first purchase can give you a huge discount for sure!
Shop at home
The service works by giving you 5% cashback on all purchases made using the Visa Checkout system. This includes items bought from participating stores like Walmart, Macy’s, and Best Buy. Needless to say, you’ll earn more cashback if you spend at least $15 on your purchases using the service combined with cashback rewards from Venmo.
Again, keep in mind that some of these stores may not support a Venmo debit card. No doubt you can still enjoy the other platform benefits that we discussed earlier. This simply means double rewards on every transaction!
Also Check:- How to get New Venmo Debit Card for Under 18 & Adults?
Venmo cash back limit
Venmo has a different limit on the cashback that it provides per month per user. Your limit is based on your Venmo balance in the previous month to try and prevent any abuse of the system. The cashback reward amounts are based on three tiers of users, with the first tier being standard users who can receive up to $20 in cash back per month, then Premier and Select users who can receive up to $50 and $100 respectively.
It’s also worth noting that different Venmo cashback limits apply to transactions using Apple Pay, PayPal, and Android Pay as purchases completed with these methods will not qualify for rewards under any tier. You can read more about these transactions on the official website. If you’re looking for a higher limit to earn cash back, you should consider upgrading your Venmo account to a premium version or signing up for an Apple Pay-enabled card.
Venmo Rewards $1000
This is actually a scam where the accidentally scammer sends you $1000 and then plays the victim card and asks you to return it.
The money is sent using a stolen debit card and when you return the money it goes to the scammer’s account and ultimately you lose the money. So in such a case don’t return the money and report the scammer to the bank.
Venmo Rewards list 2022
Currently, there’s no set list of retailers that have partnered with Venmo officially to provide cashback on payments, as hundreds of businesses are already eligible – from restaurants and bars to clothing shops and gyms. You can find out if your favorite businesses are on the list by contacting customer support or visiting the official website.
Does a Venmo card actually give cashback?
If you’re an avid Venmo spender, and you spend most of that money at stores rather than online or on things like ATM withdrawals, then a Venmo debit card will give you a 1% cashback reward on all that spending. But 1% may not be worth it if your credit card gives you 2% back or more—and many rewards-earning cards do. And if you’re just using Venmo for the splitting payments feature to pay back friends and/or family members? Then there are better financial products out there — ones that let you split bills with friends and family but cost less, offer better rewards, or both.
How does Venmo debit card cashback work?
The Venmo debit card will be linked to your Venmo account and offer 1% cash back on every purchase made in stores. (Note: this isn’t the same as 1% cashback for using the app’s patented system). The card does have some drawbacks, though. It’s a prepaid Visa debit card that doesn’t allow ATM withdrawals or online payments from any other account but yours. And it costs $9.95 to order and then you get charged $6 per month for active use of the card (though you can cancel anytime).
Venmo actually connects your new debit card to your existing Venmo account. Then all your transactions will show up in one place, giving you an easy way to keep track of spending habits and, yes, get that 1% cashback. The card has no set spending limit but is subject to approval. Venmo will also check your credit history (all the more reason to stay on top of your credit score).
Wrapping Up
Venmo payment stores are opening their doors around some shortlisted cities and plans are already in place to expand nationwide. Customers who use Venmo on a regular basis may want to visit these stores and many users can benefit from offers they didn’t even know were available. The stores will provide more flexibility and the offers, unlike any other incentives offered by these brands, can be used for anything.
Therefore, moving to a Venmo debit card from other popular payment options can result in a better set of rewards at the end of each month. However, unlike most traditional debit cards, the Venmo Debit Card has no difficult credit checks and doesn’t require a pin number. On top of that, you can’t link the card to other bank accounts, either; so you’ll have to keep track of your spending and earnings via the app or through receipts.
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