Venmo Card Limits: Understanding ATM Withdrawal, Venmo Credit Card Limits, And How to Increase Them

Posted on 18 March, 2024 by justin smith

Venmo has become a popular choice for managing finances and making payments, thanks to its user-friendly interface and social features. One of the key components of Venmo's offerings is the Venmo card, which includes both a debit card and a credit card. In this article, we'll delve into the details of the Venmo card limits, including ATM withdrawal limits, Venmo credit card limits, and how you can increase these limits to suit your financial needs.

Venmo Debit Card ATM Withdrawal Limit

The Venmo debit card is a convenient way to access your Venmo balance for purchases and ATM withdrawals. When it comes to ATM withdrawals, Venmo imposes a daily limit to ensure security and manage liquidity. The standard ATM withdrawal limit for the Venmo debit card is $400 per day. This limit resets at midnight CST every day.

It's important to note that this limit is separate from your total spending limit on the card, which includes purchases and other transactions. Additionally, some ATMs may have their own withdrawal limits and fees, so it's advisable to check with the specific ATM provider.

Venmo Credit Card Limit

The credit limit you get for the Venmo Credit Card depends on your creditworthiness. However, there is a guaranteed minimum limit you'll get if approved:

Minimum credit limit: $250 or more [WalletHub: Venmo Credit Card Reviews]
If you have good credit, you might get a much higher limit than that.

Here's some additional info about Venmo Credit Card limits:

You can view your credit limit in the Venmo Credit Card section of the Venmo app [help.venmo.com]

Your account may have a lower credit limit until you receive and activate your physical card [help.venmo.com]

How to Increase Your Venmo Card Limit

If you find that your current Venmo card limits are not meeting your financial needs, there are steps you can take to request an increase Venmo Card Limit:

1. Improve Your Credit Score: For the Venmo credit card, a higher credit score can increase your chances of getting a higher credit limit. Make sure to pay your bills on time, reduce your debt-to-income ratio, and check your credit report for any errors.

2. Update Your Income Information: Venmo may consider your income when determining your credit card limit. If your income has increased since you applied for the card, update this information in your Venmo account settings.

3. Request a Credit Limit Increase: You can request a credit limit increase for your Venmo credit card by contacting Venmo's customer service. Be prepared to provide information about your financial situation and the reason for your request.

4. Use Your Card Responsibly: Regular use of your Venmo card, along with timely payments, can demonstrate to Venmo that you are a responsible cardholder, potentially leading to an automatic limit increase over time.

Conclusion

Understanding the limits of your Venmo card is essential for effective financial management. Whether you're using the Venmo debit card for ATM withdrawals or the Venmo credit card for purchases, knowing your limits can help you avoid any inconvenience. If you need higher limits, take steps to improve your financial standing and communicate with Venmo to request an increase.