Verizon Launches Credit Card

To this day, the ATT card from Citi is a really underrated card. But why should ATT customers have all of the fun? Verizon has just launched a new credit card that could be a pretty good idea for Verizon’s customers!

Card Summary

The Verizon Visa card is a no annual fee and no foreign transaction fee card issued by Synchrony. The card is only available to Verizon wireless postpaid customers.

As far as reward categories, the card earns the following:

  • 4%: gas station and grocery stores
  • 3%: dining
  • 2%: Verizon purchases (including paying your bill)
  • 1%: everywhere else

The rewards is not direct cashback, but instead “Verizon Dollars” which can be used for phone bills, internet bills, phones, accessories, and more. The value of these dollars is 1:1.

Additionally, the card will offer an autopay discount, as well as up to two free Travelpass days per calendar year. Finally, the physical card is metal.

Sign Up Bonus

Because of how interesting the sign up bonus is, I’ve decided to separate out the section. The standard sign up bonus is $100 in wireless bill credits when used over 24 consecutive months when paying the Verizon bill (including FIOS) with either the card directly or by the Verizon dollars earned on the card. This comes out to about $4.17 per month.

Additionally, there is a sign up bonus for signing up early. If you sign up in between June 22nd and June 25th, you have the potential to win up to $1,000. The way this works is there is a total pot of $1,000,000 that is going to be randomly divvied up to those people.

Sign Up bonus
  • $100 in wireless bill credits over 24 consecutive months when paying their monthly verizon bill (either with using the card or by using the verizon dollars)
  • Special offer for those that sign up before the official launch (between June 22nd and June 25th), for the potential to win up to $1000 in verizon dollars (from a total pot of $1,000,000.

Final Thoughts

That is quite a lot of information! For those of you out there that are eligible for this card, and plan to stick with Verizon for the long term, I think grabbing this card could be a good move. Of course, with the stipulation that you aren’t locking yourself out of grabbing other cards by picking this one up like going past 5/24 or any other similar rule.

The Verizon Visa card now marks the only credit card that is eligible for the autopay/paperless discount (only bank accounts or debit cards previously). If you use this card, not only would you be getting that discount, but I would imagine you’re also going to be earning 2% on the bill itself which will add up overtime. On top of that, the sign up bonus will also give you $100 over the course of 2 years, so you may as well use the card to pay for your bill.

I’m not sure if it’s worth talking about the potential for the $1,000 Verizon dollars. I would go in expecting not to get it, or, if you do, that it would be way less than $1,000. There is a total pot of $1,000,000, and the way the offer is worded, you would only be earning UP TO $1,000. I would imagine that if a lot of people sign up for the card, they would have to divvy that up a little bit more than that, but who knows, maybe they will just flat out give you $1,000. In that case, this would be one of the best sign up bonuses you could get, especially from a no annual fee credit card.  

Finally, there is the ability to earn 3 and 4% on purchases. Both of these are pretty high values for a no annual fee card. Not too many cards offer more than 4% for gas outside of a rotator, and even cards from American Express are only offering 3% on groceries for their no annual fee option. But the other thing to keep in mind is that this card doesn’t earn cashback, but earns currency that can only be used to pay your Verizon bill.

What do you think about the new Verizon card? Is this a card that you could see yourself  using? Let us know down in the comment section below!

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