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Verizon launches rewards credit card for its customers

Apply early to earn an inflated sign-up bonus

Summary

The upcoming Verizon Visa Card offers a generous cash back rate in popular categories – but you can only spend these rewards on Verizon purchases.

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Verizon announced on June 22 it’s launching its own no-annual-fee rewards credit card – the Verizon Visa Card. The card will allow existing Verizon customers to use rewards on their monthly bill or toward Verizon devices and accessories.

“Visa is proud to partner with Verizon on the introduction of the new Verizon Visa Card,” said Kirk Stuart, senior vice president and head of North America Merchant at Visa, in a news release. “As consumers increasingly seek more ways to stay connected digitally, the Verizon Visa Card provides real savings on Verizon’s products and services, along with benefits for every day and essential purchases.”

Co-branded credit cards can be an excellent way for brand loyalists to earn rewards on regular purchases. While they sometimes offer less competitive earning rates than traditional rewards credit cards, racking up cash back can become especially easy if the brand bills you every month – like a phone carrier or internet provider.

What to know about the new Verizon Visa Card

The new card is officially launching on June 26, but qualified customers can get early access now through June 25. You can earn some extra Verizon Dollars for applying early; everyone approved during the early access period will split $1 million Verizon Dollars equally (up to $1,000 Verizon Dollars).

The Verizon Visa Card earns 4% back on gas and groceries, 3% back on dining, 2% back on Verizon purchases and 1% back on everything else. There’s no limit to how much you can earn, and Verizon Dollars (the card’s rewards currency) don’t expire.

This is a particularly good rewards rate for a co-branded card, as it offers a high amount of cash back on everyday purchases like gas and dining – rather than just on purchases with Verizon. If you adopt this card as your go-to for qualifying purchases, it should be easy to rack up plenty of Verizon Dollars.

But on the downside, you can only spend your rewards on Verizon purchases. If your phone bill is on the high side, this might not be a problem. But those who don’t spend a lot with Verizon might lack the flexibility they need to maximize rewards.

Nevertheless, the card offers plentiful perks for Verizon customers, such as up to $100 in wireless bill credits over 24 consecutive months for monthly bill payments and Auto Pay discount eligibility. It will also be available on all mobile wallets, including Apple Pay and Google Pay, and as integrated wallet payment within the Verizon app.

Finally, if you’d like to use your Verizon Visa Card abroad, there are no foreign transaction fees.

Should you get a new Verizon Visa Card?

If you’re a Verizon wireless customer, the new card is definitely worth looking into. The rewards rate is quite generous, and the combination of earning categories makes it easy to rack up cash back on everyday purchases.

The Verizon Visa Card can potentially help you cover your phone bill with just rewards. Considering the card has no annual fee, it can be a terrific way to save on one of your recurring monthly expenses.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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Credit Card Rate Report Updated: November 25th, 2020
Business
13.91%
Airline
15.50%
Cash Back
15.85%
Reward
15.75%
Student
16.12%

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