Who this card is good for
The Venmo card is a bit of a conundrum. At first glance, it’s easy to think that it would be a viable option for consumers who don’t or can’t have a bank account. But without the ability to load cash for instant access or set up direct deposit with the Venmo card, it isn’t a full-fledged checking account alternative like a good prepaid card can be.
The Venmo app can be great when you need to pay for things that you can’t typically use a card for — situations like needing to split a restaurant bill with friends or paying the babysitter.
So who is this card good for? The Venmo card could come in handy for people who need access to their Venmo funds quickly and don’t want to pay the instant-transfer fee. A college student, for instance, who relies heavily on Venmo transfers from family or friends may find value in this card.
But students studying abroad will want to stay away from the Venmo card since it can’t be used overseas. And if you’re a student (or anyone else) who can’t wait a day or two for your Venmo balance to transfer to your checking account, you may just find it simpler to stick with your bank’s debit card.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the card shown, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.