Can I Send Money From My Credit Card To Venmo?

Venmo is a P2P online payment services platform, owned by PayPal.

This platform makes it easier to pay bills, buy goods, amongst a list of other things.

To use venmo you must live in the United States.

In today’s post, I’ll be answering the question most people ask, “can I send money from my credit card to venmo“.. but before we go into the topic of the day. What is a credit card?

Credit card

A credit card is a type of payment card that is issued to a user by a financial institution, to enable the card holder pay for  goods and services.

The money the card holder spends whenever he uses the credit card isn’t his, it is borrowed money and he has to pay back, and with interest.

In simpler terms, any money you spend whenever you use a credit card isn’t your money, it belongs to the financial institution that issued the credit card to you.

And at a particular point in time you will have to pay back the money, and it will incur interest.

Now you know what a debit card is a how it works, let dive into the topic of the day…

Can you transfer money from your credit card to Venmo?

Yes you can transfer money from your credit card to your Venmo account, although this feature is barely used due to a few reasons. I’ll be listing them out.

Firstly, people don’t use their credit card on Venmo due the 3% Venmo charge whenever you use your credit card to send money to friends and family on Venmo.

But, you won’t be charged any fee if you use it to make an online purchase from any merchant that accepts Venmo.

And, although you can send money to your Venmo account using your credit card, you cannot withdraw money from your Venmo account to your credit card.

This feature only works when if you’re using a debit card or bank account.

You should also note that you won’t be able to add a credit card to your Venmo account, if it is already linked to another Venmo account.

But you can do this with your debit card and Bank account.

Additionally, whenever you pay for any transaction with a credit card, the financial institution that issued the credit card to you could code the transaction as cash advances.

This means you will have to pay an additional set of fees, this fee could range from $5 – $10.

The reasons I listed above are the problems you would encounter if you decide to add a credit card to your Venmo.

The only thing you get to enjoy of you decide to use add your credit card to venmo is that you can use it to purchase and pay for goods and services without even without having any money in your account.

What is the difference between a credit card and a debit card?

Credit and Debit cards both look alike, but they are totally different.

Of you want to spend your own money without incurring debts and interest, Debit cards would be your best option, because money you spend using your debit card are taken from your bank account.