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.
Up to 4%
18.74% to 25.74%
Purchase APR (variable)
|Welcome Offer||$100 in statement credits over the first 24 months when you pay for your monthly Verizon wireless bill with your card|
|Rewards||4% on groceries and gas, 3% on dining including takeout, 2% on Verizon purchases and 1% on all other purchases|
|Purchase APR||18.74% to 25.74% variable|
|Balance transfer APR||N/A|
|Recommended minimum credit score||670|
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.
Where the card potentially falls short is the redemption structure. The only currency this card earns is Verizon Dollars. Each Verizon Dollar is worth $1 and is only redeemable toward Verizon products and services, including your Verizon bill. This results in a card that is rather niche and functions more like a cobranded store card than a regular rewards card. You’ll need to be a regular Verizon spender to make proper use of this card.
If you’re someone who purchases one Verizon product every five years or so (monthly bill aside), it’s hard to imagine this card doing much more than shaving some money off of your Verizon bill. But if that sounds like a good deal for you, the card might be useful. That said, there are much more valuable rewards cards out there, such as the Chase Freedom Flex℠ or Blue Cash Preferred® Card from American Express.
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:
- Go to http://www.verizon.com/verizonvisacard
- At the top of the page click on the Apply button.
- You’ll need to sign in to your Verizon account to start the application.
- 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.
- 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.
|Feature||Verizon Visa® Credit Card||Costco Anywhere Visa® Card by Citi||Blue Cash Preferred® Card from American Express|
|Redemption options||Verizon purchases||Costco purchases||Statement credit|
|Welcome offer||Earn up to $100 in statement credits over the first 24 months when you pay for your monthly Verizon wireless bill with your card.||N/A||Earn $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.|
|APR||18.74% to 25.74% variable||15.24% variable||13.99% 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
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.