Verizon now has its own co-branded credit card (with Synchrony): the Verizon Visa Card, which gives cardholders reward credits they can apply toward Verizon purchases or monthly cell phone bill credits.
It’s sort of an intriguing product, actually. Here’s a quick breakdown of the card.
Verizon Visa Card: Rewards
The Verizon Visa Card earns “Verizon Dollars” which, predictably can be spent at Verizon.
Verizon Dollars can help you buy new hardware (phone, tablet, etc) or be applied to your monthly Verizon Wireless bill.
Personally, I tend to favor cards with transferrable points that can be used for travel or cashback (i.e. Chase Ultimate Rewards). On the other hand, the Verizon Visa Card essentially gives Verizon customers cashback that can help them save money on, say, their cell phone bills.
So that’s sort of intriguing — especially with the bonus categories.
Verizon Visa Card: Annual Fee
None. Zip. Zilch. Nada. No annual fee.
Verizon Visa Card: Bonus Categories
I’m pretty impressed with the Verizon Visa Card‘s bonuses.
- 4% on grocery store
- 4% on gas purchases
- 3% on dining purchases
- 2% on Verizon purchases
- 1% on all other purchases
4% back at grocery stores is right up there with the American Express® Gold Card‘s 4X Membership Rewards points. Though I think you can receive better value from the Membership Rewards points. Then again, the Amex Gold carries a $250 annual fee.
Verizon Visa Card: Welcome Offer
The current welcome offer is $100 in wireless credit over the course of 24 months (so about $4.16 a month) when you use your Verizon Visa Card to pay your monthly Verizon Wireless bill.
On the surface, that’s kinda meh.
But consider this: new enrollees to Verizon’s Auto Pay feature can get up to $10 a month off each eligible account or line (up to 10 lines max) on select plans. The Verizon Visa Card is the only credit card approved for the discount.
Verizon Visa Card: Other Benefits
Here’s a fun travel perk: the card comes with two free TravelPass days each calendar year. That’ll save you $20 on your international cell phone use (in select countries) when you travel outside the US.
Verizon Visa Card: Exclusions
Very much worth noting: Verizon wireless accounts with more than 10 phone lines and Prepaid accounts aren’t eligible to apply for the Verizon Visa Card.
So keep that in mind if you fall into either of those two categories.
For travel enthusiasts, I don’t think this is necessarily the best card. You might better value using Chase Ultimate Rewards or American Express Membership Rewards products — which can be redeemed for values higher than one cent per point. But the Auto Pay benefit is very temping.
For the cashback folks who abhor cards with annual fees (and are Verizon customers), the Verizon Visa Card might be worth considering.
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