Venmo turns splitting the bill into a credit card rewards category

Venmo is overhauling its credit card rewards: starting October 15, new cardholders earn 3% cash back on dining and entertainment plus an extra 1% if friends pay them back through Venmo within 30 days. Venmo calls the feature split-to-earn and says it is an industry first.

• From October 15, new cardholders earn 3% cash back on dining and entertainment
• An extra 1% is added if friends repay their share within 30 days
• Paying through Venmo earns 3% cash back, all other purchases earn 1%
• Existing cardholders can opt into the new system in early 2027