Are you a member of America’s most reliable mobile network? Then you may qualify for an exclusive credit card that is only available to Verizon Wireless customers. Read SuperMoney’s in-depth This is Verizon Visa® Card review to determine if this is a good deal for you.
What is the This is Verizon Visa® Card?
The Verizon Visa® Card is issued by Synchrony Bank, the largest private label credit card issuer in the United States. It is a $0 annual fee card that offers generous rates and valuable money-saving perks for Verizon Wireless customers. You can think of it as a hybrid between a store card and a prime rewards credit card. You get a monthly discount on your cellphone bill and reward rates as high as 4% back in “Verizon Dollars,” but these rewards can only be spent on Verizon purchases.
What benefits and rewards does the Verizon Visa® Card offer?
This card allows you to earn rewards on every purchase and redeem your Verizon Dollars to pay your monthly phone bill or buy practically anything sold on Verizon’s store. The Verizon Visa® Card rewards program offers cash back (in Verizon Dollars) using the following four-tier system:
- 4% on purchases made at grocery stores and for gas.
- 3% on dining out, takeout, or delivery purchases.
- 2% on Verizon purchases.
- 1% on all other purchases everywhere Visa credit cards are accepted.
It’s worth highlighting that there is no limit to how much you can earn. This is rare for a card with a rewards rate as high as 4%.
Other benefits offered by Verizon Visa® Card include:
- A new cardholder offer of $100 spread over 24 months.
- Up to $10 off every monthly bill on each eligible account for enrolling in Verizon Auto Pay for the first time (up to 10 lines), on select plans.
- Access to the VerizonUp program provides additional rewards and presale tickets to customers who use the My Verizon app.
- Two TravelPass days per year ($20 value). A TravelPass allows you to talk, send texts, and use data in more than 185 countries as if you were in the United States.
If you qualify for a Verizon Visa Signature Credit Card, you also receive the following perks:
- Travel and emergency assistance services
- Rental car privileges
- Chauffeured car service
- Visa luxury hotel collection
- Troon golf rewards
- Sonoma County vintners
- Visa Signature concierge
Is the Verizon Visa® Card worth it?
If you are a Verizon Wireless account holder (or account manager), adding this card to your wallet is a no-brainer. The card is worth getting even if you only use it to pay your monthly Verizon bill. Straight out of the gate, you save up to $10 a month on your bill. This is the only credit card that qualifies for Verizon’s Auto Pay discount. You also get a new cardholder offer of $100 in bill credits.
Then there is the generous rewards program. You can earn more than $436 a year ($36.40 a month) in Verizon Dollars just by spending $1,000 a month (see breakdown below). That amounts to more than half your monthly cellphone bill if you have the Start Unlimited plan (currently $70 a month).
|Purchases||Rewards Rate||Verizon Dollars|
|$500 in groceries||4%||$20.00|
|$150 in gas||4%||$6.00|
|$300 in restaurants||3%||$9.00|
|$70 cellphone bill||2%||$1.40|
This card is not as flexible as other prime rewards cards, but it is definitely worth considering for Verizon customers.
How can you redeem your Verizon Dollars?
There is no limit to how many Verizon Dollars you can earn with your Verizon Visa® Card. However, you are limited in how you can use your Verizon Dollars. For instance, you can’t use them to get cash or pay for travel expenses, as with most rewards cards. Here is a list of the ways you can redeem Verizon Dollars.
- Pay for your Verizon Wireless bill.
- Payment of a Verizon Fios bill (but only if you pay online)
- Buy a smartphone, smartwatch, tablet, or any other device or accessory sold on Verizon’s store.
- Buyout (or pay the down payment) of a phone or tablet agreement.
How does the Verizon credit card work?
The Verizon Visa® Card can be used everywhere Visa is accepted. You can add the card to your mobile wallets or use the metal card the old-fashioned way. The card allows you to earn Verizon Dollars on your purchases, which you can then redeem for a new phone, tablet, or bill credit.
The pros and cons of Verizon Visa® Card
Here is a list of the benefits and the drawbacks to consider.
- Generous rewards in common spending categories.
- No monthly fee of foreign transaction fees.
- Monthly discounts on your bill.
- You can redeem rewards for a new phone, tablet, or accessory.
- A new cardholder offer of up to $100.
- Visa Signature perks.
- Reports to multiple credit bureaus.
- You can only redeem your rewards for Verizon purchases.
- Only available to Verizon Wireless customers.
- You may forfeit your rewards if you close your credit card account or you don’t use your card for 24 consecutive months.
The Verizon Visa® Card can help you save money on your bill and earn generous reward rates. It doesn’t charge an annual fee or foreign transaction fees, yet it still packs premium perks and elevated reward rates in popular spending categories. The catch is that only Verizon Wireless customers can apply for this card. This restriction makes sense since you can only use the rewards in the Verizon ecosystem.
Verizon Visa® Card Disclosure: No Annual Fee and No Foreign Transaction Fee. For New Accounts: Variable Purchase APRs are 21.74% or 25.74% for the Verizon Visa Credit Card or 18.74%, 21.74% or 25.74% for the Verizon Visa Signature Credit Card. APRs are accurate as of 12/1/20 and will vary with the market based on Prime Rate (as defined in your credit card agreement). To learn more, visit https://www.verizon.com/solutions-and-services/verizon-visa-card/learn/ for details and restrictions.