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PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

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Valued Contributor

PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

https://www.synchrony.com/paypal-and-synchrony-to-launch-venmo-s-first-ever-credit-card-.html







Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000.
Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.
I WANT to join: Hanscom FCU (For the 2 day early direct deposit).
Burned:
DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 1 of 9
8 REPLIES 8
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Regular Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

i dont understand what venmo is, it looks like its the exact same thing as paypal, and it's owned by paypal. so why does it even exist. are they now going to make an exact duplicate of their already existing paypal mastercard?


Message 2 of 9
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Valued Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Venmo is more “social” more peer to peer than Paypal...they have a feed of transactions sort of like twitter for who is paying who and why (idk why someone would want a social public record or money Cree??? Smh)

Paypal has peer to peer but it’s focus is online wallet online transactions

IMO I like Paypal better but Venmo is used more by young people.







Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000.
Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.
I WANT to join: Hanscom FCU (For the 2 day early direct deposit).
Burned:
DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 3 of 9
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Valued Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

https://help.venmo.com/hc/en-us/articles/210413717-Payment-Activity-Privacy







Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000.
Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.
I WANT to join: Hanscom FCU (For the 2 day early direct deposit).
Burned:
DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 4 of 9
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Valued Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Isn't Venmo(PayPal) in hot water at the moment though?

So sure lets launch a Venmo CC. lol

 

 






Message 5 of 9
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Established Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

I actually like the Venmo app / platform better, although I keep all my transactions private. I also think that PayPal has a negative image so Venmo overcomes that. I just like that you’ll be able to access account info and pay within the Venmo app. It sounds like you won’t have to transfer to Synchrony’s crappy site. I wonder if they’ll let you PC from PPMC to the new Venmo card?


February 2020:

Stats:
Message 6 of 9
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Moderator

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card


@KLEXH25 wrote:
I actually like the Venmo app / platform better, although I keep all my transactions private. I also think that PayPal has a negative image so Venmo overcomes that. I just like that you’ll be able to access account info and pay within the Venmo app. It sounds like you won’t have to transfer to Synchrony’s crappy site. I wonder if they’ll let you PC from PPMC to the new Venmo card?

Unfortunately, SYNCB doesn't PC between any of their CC products. 

Message 7 of 9
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Senior Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card


@MyDataMyChoice wrote:
Venmo is more “social” more peer to peer than Paypal...they have a feed of transactions sort of like twitter for who is paying who and why (idk why someone would want a social public record or money Cree??? Smh)

Paypal has peer to peer but it’s focus is online wallet online transactions

IMO I like Paypal better but Venmo is used more by young people.

I've had PayPal since  . . . forever. I made a Venmo account a couple years ago and didn't see the point and never used it.

But, I'm not a younger people. So, Boomer  . . .


Fico 08: 734/716/734 TU/EX/EQ
Message 8 of 9
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Moderator Emeritus

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Interesting.   Currently, Venmo charges a 3% fee to fund with a CC (no fees for bank accounts or debit cards, IIRC), so Hopefully, a Venmo CC would eliminate that and you would actually get rewards for transactions.   Venmo is app-based and good for quickly moving money from person to person.   PayPal I think is better for dealing with transactions like retail purchases and eBay.   Anyway, I'd definitely consider adding it to my collection, if the finished product makes sense.  



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