¹To qualify for this offer, you must apply for a Venmo Credit Card account by 11:59 p.m. ET on April 8, 2021, and subsequently be approved. Offer may only be redeemed by the eligible participant, such eligibility to be determined by Venmo in its sole discretion. Cardholder must make net eligible purchase(s) (minus returns and other adjustments) of $500 or more with their Venmo Credit Card within 90 days of account opening in order to qualify for the $50 cash back bonus (maximum of one cash back bonus may be earned per person). Cash advances do not qualify towards the net eligible purchases of $500. Fulfillment of the cash back bonus via an automatic transfer to the Venmo account will occur no later than 45 days after net eligible purchase qualification threshold is met. Both your Venmo account and the Venmo Credit Card account must remain open, be in good standing, and not become delinquent at the time the cash back bonus is awarded. If there is a negative balance on your Venmo account at the time the cash back bonus is awarded, the cash back bonus may be used towards the balance. Once reflected in your Venmo account, use of the cash back bonus is subject to the terms of your Venmo account. This promotional offer is in addition to and does not replace the Cash Back Rewards program as detailed in the Rewards Program Terms.
*Use of cash back is subject to the terms of your Venmo account. Review the Venmo Credit Card Rewards Program Terms for more information.
²Subject to credit approval. You must be at least 18 years old and reside in the US or its territories to apply. You must also have a Venmo account in good standing, that has been open for at least 30 days prior to application.
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The Venmo Credit Card is issued by Synchrony Bank pursuant to a license from Visa USA Inc. VISA is a registered trademark of Visa International Service Association and used under license. Venmo is a service of PayPal, Inc. ("PayPal"), a licensed provider of money transfer services. All money transmission is provided by PayPal pursuant to PayPal's licenses. PayPal's NMLS ID is # 910457.
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NEW YORK: PayPal, Inc., is licensed as a Money Transmitter by the New York State Department of Financial Services.
PENNSYLVANIA: PayPal, Inc., is licensed to Transmit Money By Check, Draft or Money Order By The Department of Banking, Commonwealth of Pennsylvania.
RHODE ISLAND: PayPal, Inc., is a Rhode Island Licensed Seller of Checks and Money Transferor.
CONNECTICUT: PayPal, Inc. is Licensed by the State of Connecticut Department of Banking to perform Money Transmission, NMLS #910457, License Number MT-910457.
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As a financial expert with a deep understanding of the intricacies of credit card offers and financial services, I'd like to provide a comprehensive breakdown of the information presented in the article related to the Venmo Credit Card offer. My expertise is rooted in an in-depth knowledge of credit card terms, promotions, and the regulatory landscape governing financial transactions.
Let's dissect the key concepts highlighted in the article:
1. Offer Eligibility and Application:
- To qualify for the offer, individuals must apply for a Venmo Credit Card account by a specified deadline, in this case, 11:59 p.m. ET on April 8, 2021.
- Approval for the credit card is a prerequisite for participation, and Venmo reserves the right to determine eligibility at its sole discretion.
- The applicant must be at least 18 years old, reside in the US or its territories, and have a Venmo account in good standing open for at least 30 days before applying.
2. Cash Back Bonus Details:
- Cardholders are required to make net eligible purchases totaling $500 or more within 90 days of account opening to qualify for a $50 cash back bonus.
- Cash advances do not count towards the $500 net eligible purchase threshold.
- The cash back bonus, once earned, will be transferred to the Venmo account automatically, no later than 45 days after meeting the purchase qualification threshold.
3. Account and Card Status:
- Both the Venmo account and the Venmo Credit Card account must remain open, be in good standing, and not become delinquent at the time the cash back bonus is awarded.
- If there is a negative balance in the Venmo account at the time the cash back bonus is awarded, the bonus may be used towards the balance.
4. Terms and Conditions:
- The use of cash back is subject to the terms of the Venmo account.
- The promotional offer is separate from the Cash Back Rewards program detailed in the Rewards Program Terms.
5. Additional Information:
- The Venmo Credit Card is issued by Synchrony Bank under a license from Visa USA Inc.
- Various regulatory licenses are highlighted, indicating Venmo's compliance with state financial regulations.
In conclusion, this comprehensive breakdown demonstrates my expertise in understanding the nuances of credit card offers, eligibility criteria, cash back rewards, and the regulatory landscape within which financial services operate. If you have any further questions or need clarification on any aspect, feel free to ask.
