Verizon Launches Credit Card With VerizonDollars 4% Back on Groceries & Gas; AutoPay Benefit; $100 Signup Bonus

(Update 7/2/21: Rewards can now be used to redeem toward gift card purchases as well to places like Amazon and more. Can be redeemed for travel as well.)

Verizon launched a new credit card today, in partnership with Synchrony Bank which has no annual fee and no foreign transaction fee. It offers 4% back at grocery stores and gas stations, and offers 3% back on dining. There is a $100 bill credit signup bonus. There’s also a potential signup bonus of up to $1,000 for those who signup by June 25th.

Press Release | Signup Link | FAQs

Card Details

  • Card is a Visa and is issued by Synchrony Bank. Card can be used anywhere Visa is accepted.
  • Card only available for Verizon wireless postpaid customers. (Far as I can tell, the card is not available to those with Verizon Fios.)
  • Card earns Verizon Dollars which can be used on Verizon phone bills, Verizon Fios internet bills, phones, accessories and more. Each Verizon Dollar is worth $1.
    • Update 7/2/21: Rewards can now be used to redeem toward gift card purchases as well to places like Amazon and more. Can be redeemed for travel as well.
  • Card earns the following rates:
    • 4% back at gas stations and grocery stores, including delivery and pick up
    • 3% back on dining/delivery and curbside pick-up purchases
    • 2% on Verizon purchases
    • 1% on all other purchases
  • Card made out of metal, reports indicate.
  • No limits on how much you can earn, no expiration date.
  • No annual fee.
  • No foreign transaction fees.

Additional Details and Benefits

Standard Signup Bonus

There is an inconspicuous mention of a signup bonus for the card, seems like this will be the standard signup for the card:

  • New cardholders can get up to $100 in wireless bill credits over 24 consecutive months when they use their new Verizon Visa Card to pay their monthly Verizon bill.
  • To receive the full $100 credit, you must pay a Verizon Wireless or Verizon Fios bill with either a Verizon Visa Card or by redeeming Verizon Dollars to pay the total bill amount for the first 24 months of opening a credit card account. During that time, the monthly credit, equaling $4.17, will not be credited for any monthly bill that wasn’t paid using the Verizon Visa Card or Verizon Dollars. Visit the Verizon Visa Credit Card Rewards Program Terms and Conditions for details.

Launch Signup Bonus

Update 9/3/20: People are getting the prelaunch bonus now and a report of $411.35. That means 2,431 people signed up and qualified for that bonus. Hat tip to mothman69

Offer Link

There is a special pre-launch signup bonus of up to $1,000 Verizon Dollars, based on a pot of $1M divided between all those who apply during pre-launch:

  • Signup between June 22 noon ET and June 25 p PM ET (before card launches officially on June 26) and get a chance to get up to $1,000 in Verizon Dollars if you are approved for the card.
  • Verizon Dollars will be awarded within 2-3 billing cycles to each eligible account owner’s or manager’s My Verizon account who completes all the following: (1) signs up on the list during the promotional period, (2) applies for a Verizon Visa Card through the link provided by the specified date, and (3) is approved for the Verizon Visa Card (“Approved Participant”).
  • $1,000,000 Verizon Dollars is available to be divided equally among all the Approved Participants, however in no event will any individual Approved Participant be awarded more than $1,000 Verizon Dollars. The actual amount awarded to each Approved Participant and the total amount awarded will depend upon the number of Approved Participants. For example, if there are 10,000 Approved Participants, then each will be awarded $100 Verizon Dollars and the $1,000,000 Verizon Dollars in total will be awarded. Void where prohibited. We reserve the right to remove anyone from the Early Access promotion in the event of fraud or abuse of the promotion.

It’s totally plausible you’ll end up just getting $10 or less, if a lot of people sign up. I’d personally guess that if so many people sign up they’ll put a floor on it and offer everyone $50 or something like that, but who knows.

Our Verdict

I hate these kinds of vague signup bonuses since it’s impossible to know how many people will sign up and what the reward will be. That said, if I were a Verizon postpaid customer and I wasn’t worried about 5/24, I’d consider signing up for the following reasons:

  • Get 2% back each month on my Verizon bill (versus paying with bank account to get Auto Pay discount if I didn’t have the Verizon card). Let’s say a $75 monthly bill, means $1.50 per month or $18 per year. Also, if you use Verizon for wireless and internet, the monthly bills could add up and the 2% becomes more significant.
    • Some people use other credit cards for cell phone insurance, but if you’re anyway using your bank in order to get the AutoPay discount, this is a nice little incentive to sign up.
  • Get $100 in Verizon credits over the course of 24 months, $4.17 per month.
  • Get up to $1,000 signup bonus with no spend requirement. In order for the bonus to be $1,000, that would mean only 1,000 customers signup (see above). In all likelihood, the bonus will be much less than that, but it still possible it’ll be some worthwhile amount.
  • The 4% gas and grocery categories will interest a lot of people.
  • No foreign transaction fees is a nice feature for a card with no annual fee.
  • Two free TravelPasses per year which might be useful for international travelers.
  • (Seems that some ‘device dollars’ turn into un-expiring Verizon Dollars, but I’m hazy on the details.)

I can see this card especially for someone who plans to stick with Verizon wireless/Fios for a long time or for someone who values the 4% grocery category.

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Jay
Jay

They will deny if you don’t have a mortgage (talk about discrimination)

abe
abe

Can someone with access to reward redemption cut/paste the gift card choices please?

WGU
WGU

cxLoyalty is the travel portal.

Quick search:

Flights are the same price.
Hotel are $60-$100+ higher than booking directly with the hotel.

Lrdx
Lrdx

They ran the Chase portal before Expedia. I liked them better.

Slowbrake
Slowbrake

Is there a way to get the card without being a Verizon customer?

What happens if you leave Verizon after you have the card?

Billy Smooth
Billy Smooth

“Am I eligible to apply for the Verizon Visa Card?

You must be a Verizon wireless customer who is the Account Owner or an Account Manager and have 10 phone lines or less on your wireless account to be eligible to apply for the Verizon Visa Card.

Verizon wireless accounts with more than 10 phone lines and Prepaid accounts aren’t eligible to apply for the Verizon Visa Card.”

WGU
WGU

You can start with a watch line like I did for $10+ tax.

Slowbrake
Slowbrake

That is very helpful, thank you.

Christian
Christian

Travel Portal added as redemption option as wel as gift card. 1cent per $VD/Pt for gift card. Min gift card redemption start at $5.
This benefit is located in the Verizon app on version up when you tap redeem dollars

CT
CT

Not sure if this is new or mentioned but you can now redeem your Verizon dollars for gift cards and travel purchases with Verizon. I looked at the option for gift cards and seems to include the ones that they offer for free every month except for the visa so I would suggest redeeming the 5 dollar Verizon dollars if you have not been doing so as you can just convert them to your preferred gift card choice. The lowest I found you can redeem for is $5 and it includes some popular brands.

MisterBill
MisterBill

Why not just use the VD as a credit on your bill? Seems to be the easiest way to use them, unless you earn less than 2% on the store you’d get a gift card for.

ZZ
ZZ

Does anyone know if buying things at Costco counts as grocery? I tried Costco gas and it did code as gas, but am wondering if Costco retail would code as grocery.

CT
CT

I doubt it would as it has always been categorized as wholesale.

MisterBill
MisterBill

Got an offer from them for $20 in Verizon Dollars for making ten purchases of $10 or more outside of Verizon. I wonder if ten $10 payments to my insurance would work?

They do say “We reserve the right to determine which transactions qualify for this offer.” so i guess they could refuse it. Probably pays to vary the amounts.

MisterBill
MisterBill

Just noticed that my bill this month was $80 higher than last month. I have four lines, and they somehow took away the autopay discount for last month and this month, even though I have the Verizon Visa card set up for autopay. Currently am chatting to get it fixed but be sure to check your bill to make sure they didn’t do it to you.

mothman69
mothman69

MisterBill You just can’t catch a break with them, can you?

MisterBill
MisterBill

Yeah, right! But I think that I did end up getting credited that missing $10 in VD in mid-December, after they’d given me 2x$5 Verizon gift cards to make up for the missing credit. They must have finally had to admit that they’d made a mistake and applied it to everyone who was missing it.

Meanwhile, the chat person claimed that it might have been applying the VD that caused the problem, but I don’t see how that’s possible since they are intended to be used on the bill (plus i used my entire $400+ card sign-up bonus that way)! Anyway, he is crediting me back the $80, after initially only offering $40. This is just a warning to others to check their bills since I cannot be the only one this happened to.

Grant