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Verizon Visa® Credit Card review

Excellent rewards, but very limited redemption options.

  • Get this card if you want to spend credit card rewards exclusively on Verizon products.
  • Pick something else if you want more flexibility in how you spend your rewards.
  • Apply with a good credit score of 670 or higher.
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$100

Welcome offer

Up to 4%

Cash back

$0

Annual fee

18.74% to 25.74%

Purchase APR (variable)

Details

Annual fee$0
Welcome Offer$100 in statement credits over the first 24 months when you pay for your monthly Verizon wireless bill with your card
Rewards4% on groceries and gas, 3% on dining including takeout, 2% on Verizon purchases and 1% on all other purchases
Purchase APR18.74% to 25.74% variable
Balance transfer APRN/A
Recommended minimum credit score670
IssuerVisa

Review by


Steven Dashiell is a writer at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.

Expert review

Verizon’s new credit card, the Verizon Visa® Credit Card, has officially launched and is now available for applications. At a glance, this card’s rewards are quite strong: 4% in Verizon Dollars on gas and grocery store purchases, 3% on dining and restaurant purchases, 2% on Verizon purchases and 1% on everything else. Few rewards cards offer 4% back these days and those that offer more than 4% usually have spending caps. Verizon Visa® Credit Card also gives you a great spread of earning categories, perfect for everyday purchases.

How to apply for the Verizon Visa® Credit Card

You can now apply for the Verizon Visa® Credit Card through the Verizon site. However, finding the application page is difficult – at the time of this writing, Verizon isn’t advertising it on their homepage and had no clear place to click through for card info. We’ve fished up the page for you to make things simpler:

  1. Go to http://www.verizon.com/verizonvisacard
  2. At the top of the page click on the Apply button.
  3. You’ll need to sign in to your Verizon account to start the application.
  4. After signing in, fill in the required information and click Submit.

What credit score do I need?

Apply with a good credit score of 670 or higher to improve your chances of approval.

Card benefits

  • Verizon discounts. Verizon offers a discount of $5 or $10 per line item on up to 10 lines each month when you pay your bill using the Verizon Visa® Credit Card.
  • No annual fee. You won’t pay an annual fee to use this card.
  • Earn solid rewards. You’ll earn 4% in Verizon Dollars at gas and grocery stores or on grocery store delivery. You’ll also earn 3% on dining and restaurant pickup or delivery. Finally, earn 2% back on Verizon purchases and 1% on everything else.

Compare Verizon Visa® Credit Card rewards with Costco Anywhere Visa® Card by Citi and Blue Cash Preferred® Card from American Express

These earnings rates are reasonably generous and cover a lot of spending categories, meaning you’ll always have a solid way to earn Verizon Dollars. However, there are other cards on the market that earn comparable rewards with more flexible redemption opportunities. Here’s how the Verizon Visa® Credit Card stacks up against the Costco Anywhere Visa® Card by Citi and the Blue Cash Preferred® Card from American Express.

FeatureVerizon Visa® Credit CardCostco Anywhere Visa® Card by CitiBlue Cash Preferred® Card from American Express
Rewards
  • Earn 4% in Verizon Dollars on gas and grocery stores or delivery
  • Earn 3% on dining and curbside pickup
  • Earn 2% on Verizon purchases
  • Earn 1% on all other purchases
  • Earn 4% cash back on eligible gas purchases, including at Costco, for the first $7,000 each year and 1% after that
  • Earn 3% back on restaurants
  • Earn 3% back on travel purchases worldwide
  • Earn 2% back on all Costco and Costco.com purchases
  • Earn 1% back on all other purchases
  • Earn 6% cash back at US supermarkets on up to $6,000 each year and 1% thereafter
  • Earn 6% back on select US streaming services
  • Earn 3% back at US gas stations
  • Earn 3% back on transit including taxis, rideshares, parking, tolls, trains, buses and more
  • Earn 1% back on all other purchases
Redemption optionsVerizon purchasesCostco purchasesStatement credit
Welcome offerEarn up to $100 in statement credits over the first 24 months when you pay for your monthly Verizon wireless bill with your card.N/AEarn $150 cash bonus after you spend $3,000 in your first 6 months of card membership. Plus earn 20% back on Amazon purchases on up to $200 total during that same time frame.
APR18.74% to 25.74% variable15.24% variable13.99% to 23.99% variable (see Terms apply, see rates & fees)
Annual fee$0$0 with Costco membership$95 annual fee after your first year

The Costco Anywhere Visa® Card by Citi earns very similar rewards while allowing you to redeem those points on Costco purchases. Naturally, you’ll find a lot more to spend your points on in a Costco than you will in a Verizon store. Meanwhile, the Blue Cash Preferred® Card from American Express crushes both of them and lets you redeem your points as statement credit for the low cost of a $95 annual fee from the second year.

What to watch out for

  • No signup bonus. Prior to launch, the Verizon Visa® Credit Card came with a pre-launch bonus offering up to $1,000 in Verizon Dollars to applicants, depending on the number of applicants for the card. Now that the card has launched, this offer is gone.
  • Limited redemption opportunities. You can only redeem your Verizon Dollars on Verizon purchases. That means no statement credits on other purchases and no redemptions on non-Verizon gift cards.
  • High APR. This card carries a higher than average APR of 18.74% to 25.74% variable. Coupled with a lack of intro APR, this makes the Verizon Visa® Credit Card a poor card for carrying a balance.

Compare cashback credit cards

Name Product Welcome offer Rewards Annual fee Filter values
Blue Cash Preferred® Card from American Express
Up to $350: 20% back on Amazon.com purchases in the first 6 months for up to $200 back, plus $150 statement credit after you spend $3,000 in the first 6 months
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases (redeem as statement credit)
$0 intro annual fee for the first year ($95 thereafter)
Earn up to $350. In your first 6 months, you can earn a $150 statement credit when you spend $3,000, and earn 20% back on Amazon purchases made with your card, up to $200 total. Having 6 months to earn a welcome offer is a rare benefit as most cards give you only 3. Terms apply, see rates & fees
Blue Cash Everyday® Card from American Express
Up to $250: 20% back on Amazon.com purchases in the first 6 months for up to $150 back, plus $100 statement credit after spending $2,000 within the first 6 months
3% at US supermarkets on up to $6,000 per year (then 1%), 2% at US gas stations and select US department stores and 1% on all other purchases (redeem as statement credit)
$0
Earn up to $250. You'll get 20% back on Amazon.com purchases in the first six months for up to $150 back, and $100 after you spend $2,000 in the first six months. This is a higher-than-average welcome offer for a card with no annual fee. Terms apply, see rates & fees
Chase Freedom Unlimited®
$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores (not including Target® or Walmart®) on up to $12,000 in the first yeares) on up to $12,000 spent in the first year
5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases
$0
This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.
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Bottom line

The Verizon Visa® Credit Card has more in common with cobranded store cards than standard rewards cards. It simply doesn’t have the value potential to stand up to something like the Chase Freedom Flex℠ or Blue Cash Preferred® Card from American Express. And while the earning rates are respectable, the redemption value of this card is limited even when compared to other store cards available.

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