Venmo Credit Card Adds 1% Bonus for Splitting Dining and Entertainment Purchases
Venmo announced a new split-to-earn feature for its credit card, offering up to 4% cash back on dining and entertainment when purchases are split with friends.
What you need to know
Venmo announced an industry-first split-to-earn feature for its credit card, allowing cardholders to earn up to 4% cash back on dining and entertainment by splitting purchases with friends on Venmo. The new rewards structure starts October 15 for new cardholders, combining 3% automatic cash back with an extra 1% for splits.
- Venmo announced that its credit card will offer up to 4% cash back on dining and entertainment purchases.
- Cardholders earn 3% automatically and an additional 1% when they split the purchase with a friend on Venmo and get paid back within 30 days.
- The new rewards structure begins October 15 for customers who open a new Venmo Credit Card.
How split-to-earn works
Venmo said the card earns 3% cash back automatically on dining and entertainment purchases, which include restaurants, food delivery, streaming services and event tickets. Cardholders can earn an extra 1% by using the split transaction feature in the Venmo app after the purchase and receiving repayment within 30 days.
To split a purchase, cardholders open the Venmo app, go to the money tab, navigate to their Venmo Credit Card and select the transaction. They can add any tips or surcharges and include a payment note before sending the request.
Other card terms
Cash back is deposited daily into the cardholder's Venmo account and has no limits, according to the announcement. The card has no annual fee and no foreign transaction fees.
The Venmo Credit Card is issued by Synchrony on the Visa network. Venmo said applying does not affect an applicant's credit score if they are declined.
Background
Venmo said more than 100 million Americans use its app to pay each other back. The company described the new rewards structure as an extension of its existing rewards ecosystem, which includes debit and credit cards, rewards, business profiles and checkout.
When does the new Venmo Credit Card rewards structure begin?
Beginning October 15, customers who open a new Venmo Credit Card can earn up to 4% cash back on dining and entertainment purchases.
Sources & context
- The Venmo Credit Card Now Pays Up to 4% Cash Back When You Split with Friends - Oct 5, 2026 ↗newsroom.paypal-corp.com
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