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

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.
  • 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

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.

232
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
RobertL
RobertL

Wow….just checked my Verizon Rewards and on Sept 3 received $411.36 “Verizon Early Customer” credit. This was the pre-launch early sign-up bonus of up to $1000. I really wasn’t expecting more than $10 or so. What a nice surprise!! Now if only this card had direct download into quicken, it would be perfect.

Jordan Lynch
Jordan Lynch

$411 surprise waiting for me in my account this morning. Didn’t expect it to be that much but very grateful.

Cameron
Cameron

Holy shit I completely forgot about the initial signup bonus! Checked my rewards and saw $423.67 (I already had a few bucks in there prior to bonus). At first I figured it was an error and they’d for sure take the money back, but then it hit me, the pre-launch bonus! Wooooo!

Joel
Joel

Boom – $411.35! That’s a nice little surprise on a Friday. I completely forgot about this bonus. I’m already up to $583 available from this card. Time to replace my struggling GS8.

MisterBill
MisterBill

Why not just apply it to your bill?

Brian
Brian

I am a little surprised that 1%+ of the early bird signups were DoC inspired or at least followers. I am +1 to that count, card is getting decent usage and looking forward to not having a cell bill for remainder of year and beyond.

Roger
Roger

I signed up June 26 🙁

Ballerina
Ballerina

Did anyone who got this card on pre lunch didn’t get bonuses yet?

sevillada
sevillada

damn, it was a decent bonus.

Miki
Miki

Feel bad for VZW customer service. Imagine how many people are/will be claiming they should’ve gotten the pre-launch bonus, but didn’t actually apply at pre-launch.

I tried applying, but never could get the application to work. Finally worked on launch day. I missed out on a lot of money, but have no regrets with getting this card! I have had VZW for over a decade and have no plans of switching carriers. The benefits are great and I hope they leave them alone. The card feels thicker and stronger than my CSP. One caveat is that although I like the look of vertical cards, I seem to have a difficult time capturing the card info when I need to take a picture of it to fill out online orders and stuff, so have to input manually.

MisterBill
MisterBill

I never got the text with the sign-up link but was able to apply thru in the app. I got the bonus but I did have some concern hat I wouldn’t because I did not use the link in the text.

Christian
Christian

Got my 400! Very nice.