Over 40 million users worldwide have found the P2P payments software Venmo helpful in streamlining their monetary transactions.
You could have run into the problem where your credit card doesn’t function with Venmo if you’re one of the thousands of individuals that use Venmo along with their credit cards.
We’ve laid out the problem’s origins so you can figure out what to do, so there’s no need to worry. So, be sure to stick around.
Why won’t my credit card work on Venmo?
Short Answer: If you have surpassed your credit card limit, your card has been suspended, your card has lapsed, you have entered the incorrect PIN too many times, or there is a technical problem, Venmo will not accept your credit card for payments.
1. The credit limit has been reached
If you’ve used up all of your available credit on your credit card, Venmo may no longer accept payments from your card. You can find out how much of a credit line your issuer is willing to provide you by looking at your card member agreement or by getting in touch with them directly.
The credit limits of credit cards may range anywhere from $500 to well over $20,000 for those with good credit, but they are often much lower for those with no credit history or weak credit.
Knowing your credit card limit and keeping track of your balances can help ensure that you don’t accidentally go over your limit before the conclusion of your billing cycle.
2. The card has been blocked
Venmo will not execute the payment for your purchase if the ability to use your credit card for transactions has been disabled. If this occurs, contact your card issuer immediately to see why they blocked your transaction. The blocking of a card almost always indicates some kind of potential fraud on the account.
This indicates that someone may have gained access to your account and used it to steal your personal information and funds. Automatically, Venmo raises a security flag on an account if fraud is detected. This flag stays in place until the bank, the card issuer, and the consumer settles the problem.
3. Issues with technology
The inability to use your credit card is likely to be the result of technical difficulties with either Venmo or your broadband provider. Despite how seldom technological problems arise, they are never eliminated. You may, however, attempt to ensure that the problem isn’t caused by a lack of internet connection.
To diagnose the issue with your internet connection, see whether you can use any other applications or load any web pages in your browser. In such a scenario, restarting your router should restore your network connection.
Technical difficulties with Venmo might be unrelated to your internet or mobile app. Venmo, like many other mobile payment applications, processes transactions across a network of servers, any one of which might get overloaded or otherwise fail from time to time owing to routine maintenance.
In this case, you should give the transaction another attempt after waiting a little while or contact customer care.
Whether you have tried to make a payment several times without success, you might try removing the Venmo app, reinstalling it, and then testing to see if the credit card is still valid. There will be no change to your current account if you delete and reinstall the app; you will simply be prompted to sign in again using the same credentials as before.
4. Incorrect PIN
To safeguard your card, the issuer may temporarily freeze it if you input the PIN incorrectly several times. The reason for this is if the card issuer sees a large number of failed login attempts, they may suspend your account to prevent fraud.
You may avoid having your card locked in the future by being cautious with the login and PIN. Capitalization matters when entering the PIN, so be careful while entering your information.
Under no circumstances should you reveal this information to anybody else. Furthermore, you shouldn’t give out your PIN to anybody frequently as they could get their hands on your previous one
5. The card has expired
Attempting to purchase something on Venmo using an expired card will result in the transaction being refused. The month and year of a credit card’s expiry date may be found printed either on the card’s front or back.
Make sure you verify your card’s expiry date and keep an eye out for a letter or email from your card issuer notifying you that your card is about to expire and offering you a replacement. You may want to contact your card issuer ahead of time if you see that your card’s expiration date is approaching.
1. Is it a good idea to pay using a credit card on Venmo?
If you want to use a credit card with Venmo, you may, but there are some limitations. You can’t add a credit card that’s already associated with another Venmo account and vice versa; you can’t use Venmo to pay for anything using a credit card that you don’t have.
You should also bear in mind that there is a 3% charge when using a credit card to transfer funds on Venmo. Whereas, withdrawing money from a bank account, debit card, or Venmo balance is completely fee-free.
Even though Venmo is widely used and generally trusted, there are certain instances in which it fails to process a payment. Assuming you do run across the aforementioned problem, you’ll want to evaluate its severity before proceeding. If you’re sure you have everything else in order, you may as well get in touch with your card issuer.
Ultimately, you’ll have a higher likelihood of success in finding a solution to the problem if you know what’s causing it. If the issue remains and you can’t pinpoint it, calling customer support or the card issuer might be your best hope for a resolution.