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.

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Grant
Alex
Alex

Does anyone if applying a verizon gift card to your account negates the $10 autopay credits?

James
James

No, I switched to VZ and got two 150$ gift cards which I have used to pay my bill for the past few months (after the first bill which was the vzw CC) still have the discount

Alex
Alex

Thanks for the reply. When I try to apply a gift card, I get the “warning” that using the gift card will negate the $10 autopay discount. Was this your experience also? If so, sounds like the warning might be an empty threat.

EastsideBK
EastsideBK

If I understand correctly, one of the main perks on this card is that you get a $10 autopay discount which formerly was only available if you paid with a bank account. (i.e. only this credit card gets the discount)

However, if I also understand correctly, this $10 discount is ONLY available if you have a certain plan type from Verizon (primarily one of their unlimited options)

https://www.verizon.com/support/auto-pay-faqs/

In case I’m missing something, if you do NOT have an unlimited Verizon plan, the value of this card is greatly limited (outside of the 4% at grocery) because you can easily get 5% back on cellphones thru Chase Ink, etc.

Or is there another benefit on this card that other people find useful? TYIA.

mothman69
mothman69

Don’t forget the new cardholder offer of $100 total off your bill over 24 months. https://www.verizon.com/support/verizon-visa-card-faqs/?#new-offer

Henry
Henry

Anyone had success getting the $4.17 discount from the $100 over 24 month bonus from using the credit to just pay for FIOS but not VZ?

Lee
Lee

I was going to sign up for the card, but I heard from multiple people the early sign up bonus is no longer available. Only the $100 credit over 24 months is active. The 411.35 is no longer active. Can anyone verify this?

Bill
Bill

Seriously? You had to apply the first week that the card was available (before it was officially released) to get the $411 bonus, and we had no idea how much it would be when we applied. If it was still available now, everyone would be applying!

throwaway
throwaway

card still worth applying for as someone who has fios and VZW? Missed out on the SUB, but 2% doesn’t seem too shabby (large family plan adds up)!

Henry
Henry

If you gave unlimited plan, you get $10 off per line (max 10 miles).

Bill
Bill

Well, you could get the $10 per line discount before, but you had to do auto-pay from your checking account. Being able to get the 2% along with the auto-pay discount is what makes this card worth getting. That plus the $100 sign-up bonus and $5 a month in Verizon Dollars via the Verizon Up program, and turning whatever Device Dollars you had into money that can be used to pay your bill.

JoshuaL
JoshuaL

I was wondering if anyone had success linking this credit card to their Fios autopay and still receiving the autopay discount? I tried doing it through the app and it gave me a warning that using a credit card would remove the discount, but wasn’t sure if that was generic and didn’t apply to the verizon card.

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.

MisterBill
MisterBill

Actually, it does. Just added to Quicken recently because it wasn’t working last month but it was when I tried it this week.

Also, expecting $10 was crazy, since that would have meant that they signed up 100,000 people during those few days. I expected at least $100, but certainly not over $400.

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?