Verizon Visa® Credit Card Review – Is It Worth Signing up For?

Verizon Visa 1

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If you’re a current or prospective Verizon customer, you should continue reading, especially if you’re looking for a way to save on your monthly wireless bill.

That’s because the Verizon Visa® card, now available exclusively to Verizon customers, can earn reward dollars that can be used for Verizon purchases.

The Verizon Visa card, issued by Synchrony Bank, earns rewards you can use to offset the cost of wireless services and to purchase a phone or other Verizon merchandise.

Let’s look at who qualifies for the Verizon Visa card, how you earn rewards on the card, your redemption options, and any downside there might be to having the card.

Who Qualifies for the Verizon Card

The Verizon Visa card has limited application availability. Only current Verizon Wireless customers are eligible to apply for the Verizon Visa card and only if the account is not a pre-paid account.

Verizon account managers who manage more than 10 accounts and Fios consumers (Verizon’s bundled internet, telephone, and TV fiber optic service) are also not eligible for the card.

Earning Verizon Dollar Rewards

Welcome Offer

The Verizon Visa card does not offer a welcome offer in the traditional sense, compared to rewards-earning credit cards. The offer is paid out over 24 months and is only $100.

To earn the welcome offer, you must pay your Verizon Wireless bill with your Verizon Visa card or Verizon Dollars (rewards you earn on the card) and receive a statement credit for 1/24 of $100 each monthly statement period over 24 months.

Earning on Purchases

Cereal at Grocery Store
Earn Verizon Dollars on everyday purchases such as groceries and gas. Image Credit: Franki Chamaki via Unsplash

While the welcome bonus is nothing to get excited about, the earnings on the Verizon Visa card are respectable.

The Verizon Visa card earns rewards in the form of Verizon Dollars. Here’s what you can expect to earn on purchases made with your card:

As you’ll notice, the card earns well on everyday spending, making it easy to earn reward dollars. There is also no limit on the amount of rewards you can earn.

Verizon Dollars do not expire as long as there is activity, defined as a redemption or a purchase to/from your Verizon Dollars account. If you should cancel your Verizon Visa card, you have 90 days in which to use your Verizon Dollars.

Members of the Verizon Up program, Verizon’s customer rewards program, will have any Verizon Up Device Dollars in their account converted to Verizon Dollars once they are approved for the Verizon Visa card.

Bottom Line: Only Verizon Wireless customers can qualify for a Verizon Visa card. Rewards are earned in the form of Verizon Dollars with 1% rewards on every purchase made with the card plus bonus earnings at grocery stores, gas stations, restaurants, and on Verizon purchases. 

Redeeming Verizon Dollar Rewards — How It Works

Verizon Dollars that are earned on the Verizon Visa card can be redeemed for any Verizon purchase including paying your bill and purchasing Verizon merchandise.

Verizon Store
Redeem your Verizon Dollars towards your wireless bill or for purchases through the Verizon online store. Image Credit: Verizon

Once Verizon Dollars are earned and are available in your account, you can use the rewards for a variety of redemption options.

  • Pay your monthly wireless bill via online, over the phone, or at an authorized Verizon-operated store
  • Pay your monthly Fios bill online (must first register for Mobile+ Home Rewards)
  • Use Verizon Dollars for a device downpayment at a Verizon authorized retailer
  • Use Verizon Dollars for a device downpayment, upgrade, purchase, or buyout of a device contract online, at a Verizon-operated store, or via phone
  • Purchase an accessory online, at a Verizon-operated store, or via phone

Additional Benefits of the Verizon Visa Card

Verizon customers can receive free international mobile/data service passes, statement credits, and Visa Signature benefits with the Verizon Visa card.

Service Passes and Discounts

  • 2 free TravelPass days per calendar year, allowing unlimited talk, text, and data in 185 countries for 1 set daily fee
  • Up to $10 off your wireless bill each month for signing up for Auto Pay (new Unlimited plan customers only)

Visa Signature and Additional Benefits

The Verizon Visa card is a Visa Signature card and comes with related Visa Signature benefits including the following:

  • Travel and Emergency Assistance Services — receive 24/7 assistance with emergencies when traveling away from home, including medical and legal referrals, lost luggage assistance, translation services, and more
  • Rental Car Discounts — receive up to a 15% discount with Silvercar
  • Visa Signature Luxury Hotel Collection — benefits such as room upgrades, daily breakfast for 2, complimentary Wi-Fi, $25 dining credit, late checkout, and more
  • Visa Signature Concierge — get help with travel planning, reservations, and entertainment access
  • No Foreign Transaction Fees
  • Mobile Wallet-Friendly — works with Apple Pay, Google Pay, and other mobile wallets

Drawbacks of the Verizon Visa Card

While the card offers several earning and redemption benefits for Verizon customers, there are some limitations.

  • Rewards earned on the card can only be used towards Verizon purchases
  • If you no longer have a Verizon Wireless account, the card will not earn rewards

If you’re at the beginning of a long relationship with Verizon — a 2-year contract, for example — these drawbacks should not be an issue.

Bottom Line: Although rewards can only be used towards Verizon purchases and the card ceases to earn rewards without a Verizon Wireless account, these drawbacks will not affect those customers anticipating a long-term relationship with Verizon. 

The Verizon Visa Card vs. a Cash-Back Credit Card

The Verizon Visa card may seem like a bright idea for offsetting your wireless bill expenses, but let’s take a look at how the card compares with some cash-back earning rewards cards.

CardCash-Back EarningsPotential Cash-Back Annually
Verizon Visa card
  • 4% on groceries and gas
  • 3% on dining
  • 2% on Verizon products and services
  • 1% all other purchases
  • $240 on $6,000 in purchases for groceries and gas
  • $30 on $1,000 dining purchases
  • $12 on $600 of Verizon purchases
Chase Freedom® card
  • $300 on $6,000 in purchases
Chase Freedom Unlimited® card
  • 5% on travel through Chase Ultimate Rewards
  • 3% on dining and drugstore purchases
  • 1.5% on all other purchases
  • $300 on $20,000 in purchases
  • $150 on $10,000 in purchases
Citi® Double Cash Card
  • 2% on all purchases; 1% when you buy and 1% when you pay
  • $400 on $20,000 in purchases
  • $200 on $10,000 in purchases
Blue Cash Preferred® Card from American Express
  • 6% cash-back at U.S. supermarkets, up to $6,000 in purchases per year, then 1%
  • $360 on $6,000 in grocery purchases

While it appears that many cash-back credit cards could equal the same or better cash-back rewards as the Verizon Visa card, the best use for rewards earned on those alternative cards may not be for Verizon purchases.

Cards that earn cash-back in the form of Chase Ultimate Rewards, for example, may be maximized by transferring to Chase premium cards for up to 50% more in value when redeemed for travel. Points transferred to travel partners could also receive even greater potential value.

Bottom Line: While cash-back credit cards have the potential to earn the same level of rewards (or better), using those rewards to pay your Verizon bill may not be the best use of those rewards. Having a designated Verizon credit card to utilize for Verizon purchases could make sense for the right Verizon consumer. 

Alternative Credit Cards for Verizon Customers

Student with Verizon Cell Phone
Selecting an alternative rewards card that offers cell phone protection may be a consideration. Image Credit: Verizon

In addition to the potential of earning rewards on your monthly cell phone bill, as well as other purchases, one might consider the added value of cell phone protection that is offered on several rewards-earning cards.

CardBenefits for Verizon Customers
IHG® Rewards Club Premier Credit Card
  • 1x earnings on wireless phone service and cell phone-related purchases
  • $600 in cell phone protection per claim, $1,000 maximum per year, $50 deductible
Wells Fargo Propel American Express®
  • 1x earnings on wireless phone service and cell phone-related purchases
  • $600 in cell phone protection per claim, $1,200 maximum in a 12-month period, $25 deductible
Ink Business Preferred® Credit Card
  • 3x earnings on wireless phone services
  • Up to $600 cell phone protection per claim for theft and damage, up to 3 claims per year, $100 deductible

This is just a sampling of cards that could be considered for cell phone rewards and benefits.

Hot Tip: If you find value in having cell phone protection insurance, you might consider an alternative card to the Verizon Visa card that does not offer the coverage. Alternately, you could add cell phone protection coverage to your Verizon plan and pay for it using Verizon Dollars earned on the card. 

Final Thoughts

The earnings on the Verizon Visa card are respectable. With 4% earnings on groceries and gas and 3% on dining, rewards are sure to add up quickly. Any Verizon customer with the card should be able to easily offset a portion of their monthly Verizon Wireless bill with everyday spending. Another plus is that the card does not charge an annual fee.

One downside to the card is that if you switch wireless providers, the Verizon Visa card will be basically worthless, as it will no longer earn rewards. However, if you’ve just signed up with Verizon and are perhaps paying off your phone over a 2-year (or longer) installment contract, the card could add a lot of value.

While narrow in its audience, the Verizon Visa card is worthy of consideration for those individuals who plan to have an ongoing relationship with Verizon.


The information regarding the Verizon Visa® Card, Chase Freedom®, Chase Freedom Unlimited®, Wells Fargo Propel American Express®, and Ink Business Preferred® Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer 


Frequently asked questions

Is the Verizon Visa card worth it?

For Verizon customers who plan a long term relationship (24+ months) with Verizon, the card could be worth it.

The card does not charge an annual fee and bonus category earnings for everyday purchases are competitive.

There are also benefits such a $100 welcome bonus, an autopay discount, free international service passes, and Visa Signature benefits that come with the card.

What can I redeem my Verizon Dollars for?

Verizon Dollars are worth 1 cent each and can be redeemed towards your monthly Verizon Wireless bill or Fios bill. In addition, you can use the rewards for the purchase of a new device or an upgrade to your current device.

You can also use Verizon Dollars for a downpayment on a new device or to purchase Verizon merchandise, such as accessories.

If you have a current contract with Verizon, you can use your rewards to buy out (pay off) the balance of that contract, as well.

Is there a limit on how many Verizon rewards I can earn?

There is no limit as to how many Verizon Dollars you can earn and they do not expire as long as there is activity in your account within the past 24 months.

Activity is defined as a purchase with, or a redemption of, Verizon Dollars.

Can I apply for the Verizon Visa card if I am a Verizon Fios customer?

No. Only current Verizon Wireless customers having existing accounts with 10 lines or less can apply for the card.

What happens to Verizon Dollars if I close my Verizon Visa card?

You will have 90 days after you close your card to use your Verizon Dollars.

What happens if I change wireless carriers?

If you do not have a current active Verizon Wireless account, the Verizon Visa card will not earn rewards.

Christine Krzyszton

About Christine Krzyszton

Christine, who lives in Northern Michigan, travels about 300,000 miles a year despite her remote location. Her expertise is traveling the world on a weekend with no pre-determined destination in mind, letting the cost of the airfare determine where she will go. She has over four million flown miles and elite status on all three major domestic carriers.

Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.

4 comments

  1. If the phone insurance is something you value why would you ever choose this card and purchase the Verizon insurance instead of just getting a card that has it included? Assuming you only have one line, the Verizon protection plan is $82 at the minimum, and for someone like me who has three lines it would be $246 per year. That takes a huge chunk out of any cash back you’re earning compared to other cards that get you both the cash back and the insurance.

    Reply

    • Point well taken. One has to consider the annual fee on a card with cell phone insurance, the alternative cost of purchasing the insurance, the level and mix of their spending that will earn rewards, if there are any other benefits of value, and more. Thanks for reading.

      Reply

  2. James Blanton September 4, 2020

    I got this card and almost 3 months later, no credit on the bill for the welcome bonus, reward points don’t sync to Verizon, and no one – and I mean NO ONE – at Synchrony or Verizon knows a thing about it.

    A reward card with no rewards = get another card.

    Reply

    • Hi James. Sorry you’re having trouble with the card. My first thought is to ask if you are paying your Verizon bill with your new card? This is the only way to get the welcome bonus and it is not awarded all at once. The welcome bonus is $100 spread out over 24 months. Also, have you gone online and looked to see if any rewards have posted to your card? Your statements should provide a clue, showing 0 rewards for purchases, for example. Also, notice the cut off date for your statement. Most rewards are earned after you have paid your monthly statement. After you’ve reviewed these, calling the number on the back of your card, which you have probably done, is the best way to get service.

      Reply

Any thoughts or questions? Comment below!

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