Venmo Credit card

[notmyrealname23]

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@Credit12Fico wrote:

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@notmyrealname23 wrote:

Oooh, a 3% card on the category I use most on that card. That seems useful for someone who can't get a USB Cash+...

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I think it's most useful for the non-MyFico crowd. The ones who don't have a dozen credit cards from big banks and obscure credit unions alike. Also the ones who find Venmo sufficient for their needs. Paypal is the more fully featured service in my opinion. Venmo seems like the "Happy Meal" with the toy inside.

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Venmo is pretty huge for the under-40 set. I use both.

I also have the PPMC and I will likely get this card if it rolls out to me. A 3% utilities card that doesn't require conservative bank lending gyrations and genuflections, or selecting a category every N months, and is just set it/forget it has a place in my wallet. Even if it's Synchrony (so I don't plan to poke the bear for a CLI on this card ever).

At some point "good enough" and Pareto optimizations (where that last tiny bit of perfection just isn't enough bang for the buck compared to the big stuff you already have in the bag, or other stuff in other places you don't) wins out...

[Anonymous]

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@notmyrealname23 wrote:

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@Credit12Fico wrote:

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@notmyrealname23 wrote:

Oooh, a 3% card on the category I use most on that card. That seems useful for someone who can't get a USB Cash+...

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I think it's most useful for the non-MyFico crowd. The ones who don't have a dozen credit cards from big banks and obscure credit unions alike. Also the ones who find Venmo sufficient for their needs. Paypal is the more fully featured service in my opinion. Venmo seems like the "Happy Meal" with the toy inside.

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Venmo is pretty huge for the under-40 set. I use both.

I also have the PPMC and I will likely get this card if it rolls out to me. A 3% utilities card that doesn't require conservative bank lending gyrations and genuflections, or selecting a category every N months, and is just set it/forget it has a place in my wallet. Even if it's Synchrony (so I don't plan to poke the bear for a CLI on this card ever).

At some point "good enough" and Pareto optimizations (where that last tiny bit of perfection just isn't enough bang for the buck compared to the big stuff you already have in the bag, or other stuff in other places you don't) wins out...

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I turned 36 on Friday and I have never used Venmo. I thought it was for the under 30 crowd honestly. 

This card would be interesting if I didn't already get 3% on everything with AOD. Even if I lost my AOD, I have 3% higher options for the categories I spend the most on. 

Assuming their categories are broad and they don't do things like split up fast food and restaurants or mobile bills and utilities, it's a pretty good deal for most. 

[Matt9543]

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@Anonymous wrote:

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@notmyrealname23 wrote:

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@Credit12Fico wrote:

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@notmyrealname23 wrote:

Oooh, a 3% card on the category I use most on that card. That seems useful for someone who can't get a USB Cash+...

---

I think it's most useful for the non-MyFico crowd. The ones who don't have a dozen credit cards from big banks and obscure credit unions alike. Also the ones who find Venmo sufficient for their needs. Paypal is the more fully featured service in my opinion. Venmo seems like the "Happy Meal" with the toy inside.

---

Venmo is pretty huge for the under-40 set. I use both.

I also have the PPMC and I will likely get this card if it rolls out to me. A 3% utilities card that doesn't require conservative bank lending gyrations and genuflections, or selecting a category every N months, and is just set it/forget it has a place in my wallet. Even if it's Synchrony (so I don't plan to poke the bear for a CLI on this card ever).

At some point "good enough" and Pareto optimizations (where that last tiny bit of perfection just isn't enough bang for the buck compared to the big stuff you already have in the bag, or other stuff in other places you don't) wins out...

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I turned 36 on Friday and I have never used Venmo. I thought it was for the under 30 crowd honestly. 

This card would be interesting if I didn't already get 3% on everything with AOD. Even if I lost my AOD, I have 3% higher options for the categories I spend the most on. 

Assuming their categories are broad and they don't do things like split up fast food and restaurants or mobile bills and utilities, it's a pretty good deal for most. 

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Side note: Happy belated birthday!

[Matt9543]

https://www.synchronycredit.com/gecrbterms/html/RewardsTerms.htm

(Apologies if this is not allowed to be linked)

This link explains what is counted as eligible purchases. It also says sending money to people via Venmo is considered an "Eligible Purchase" which will receive 1% cash back. It sounds like it will not code as a cash advance, which could help people out with sending money that way. Anything that is not under one of the topics just gets 1% back.

[Credit12Fico]

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@notmyrealname23 wrote:

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@Credit12Fico wrote:

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@notmyrealname23 wrote:

Oooh, a 3% card on the category I use most on that card. That seems useful for someone who can't get a USB Cash+...

---

I think it's most useful for the non-MyFico crowd. The ones who don't have a dozen credit cards from big banks and obscure credit unions alike. Also the ones who find Venmo sufficient for their needs. Paypal is the more fully featured service in my opinion. Venmo seems like the "Happy Meal" with the toy inside.

---

Venmo is pretty huge for the under-40 set. I use both.

I also have the PPMC and I will likely get this card if it rolls out to me. A 3% utilities card that doesn't require conservative bank lending gyrations and genuflections, or selecting a category every N months, and is just set it/forget it has a place in my wallet. Even if it's Synchrony (so I don't plan to poke the bear for a CLI on this card ever).

At some point "good enough" and Pareto optimizations (where that last tiny bit of perfection just isn't enough bang for the buck compared to the big stuff you already have in the bag, or other stuff in other places you don't) wins out...

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See but that's the problem.  Paypal and Venmo have zero integration despite living under the same roof. That annoys me greatly.

What I meant by Paypal being the more fully featured is that Paypal has higher spending, sending, receiving limits. And Paypal lets you link more credit cards than Venmo (myFico crowd). Paypal does everything Venmo does and more. Which is why I call Venmo the "happy meal".

If your friend has a Venmo, and you have a Paypal, you should be able to send money to each other without needing to get the other person's app.

Look how much better the Venmo credit card app is, than the Paypal Mastercard app....Despite both being issued by Sync and Paypal Inc. An effort should be made to synchronize the two platforms a bit more...Both would benefit.

[Creditaddict]

https://venmo.com/about/creditcard/

[blindambition]

@JR_TX I would agree to a point, I feel that there's the possibility of improper payout when based on algorithm. I'd be checking how each transaction posts.

Why companies continue to choose Synchrony, boggles my mind. Absolutely no interest in this one.

[notmyrealname23]

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@Anonymous wrote:

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I turned 36 on Friday and I have never used Venmo. I thought it was for the under 30 crowd honestly. 

This card would be interesting if I didn't already get 3% on everything with AOD. Even if I lost my AOD, I have 3% higher options for the categories I spend the most on. 

Assuming their categories are broad and they don't do things like split up fast food and restaurants or mobile bills and utilities, it's a pretty good deal for most. 

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It's definitely being used by the kids these days with their hippity hop and their cell phones and their...

</Old Man yelling at clouds>

And yeah, I didn't hop on the AOD bandwagon because "try to use random CU in Alabama in the middle of a credit rebuild, meanwhile your own CUs won't touch you until a Chapter 13 drops out, one of which you've used for 20+ years and successfully paid their loans back" didn't sound like a very likely path to a successful app. Neither does going over to US Bank to have them LOL at a Cash+ app. 

But Sync likes me just fine, so running a few hundred of cellular/electric/cable bills through this every month and getting 3% back on utlities seems like a grand idea.

[notmyrealname23]

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@blindambition wrote:

Why companies continue to choose Synchrony, boggles my mind. 

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Obviously it works for a number of companies. Cathay Pacific's been doing their cobrand card with them for a while, same with PayPal and Amazon. I wouldn't assume that just because they're doing a lot of subprime and during a severe economic downturn they aren't friendly to MyFico'ers playing "let's inflate my utilization" games that they don't have profitable relationships with companies in a cobrand relationship.

[drboxing]

Wouldn’t apply for any card backed by Synchrony bank