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Verizon Visa Credit Card Review
If you’re a Verizon Wireless customer, you might have received offers for the Verizon Visa Credit Card. With appealing cashback rates and exclusive Verizon benefits, you may be wondering if this card is a smart choice for your wallet. This Verizon Visa Credit Card review will break down the features, rewards, and potential drawbacks to help you decide.
Who is eligible for the Verizon Visa credit card?
To qualify for the Verizon Visa Credit Card, you must:
- Be the account owner or manager of an active Verizon Wireless plan with 12 or fewer lines.
- Verizon Fios-only customers and prepaid accounts are not eligible.
Issuer of the Verizon Visa Credit Card
The Verizon Visa Credit Card is issued by Synchrony Bank, known for approving applicants with fair credit scores. However, Synchrony cards tend to carry higher interest rates than competitors.
Interest Rates (APR)
- APR ranges from 23.99% to 34.99% (variable) for the Signature version.
- A Platinum version may be available for those with a smaller credit line (under $5,000).
- APR is higher than the industry average of around 21%.
- Grade: C+
Fees
- No annual fee.
- No foreign transaction fees.
- Grade: A
Welcome Bonus
- $150 in statement credits after making a purchase within 90 days.
- Compared to other no-annual-fee cashback cards, this is lower than the average $200 bonus.
- Grade: B
Earn Rates
- 4% on groceries and gas (excellent for a no-annual-fee card).
- 3% on dining, including takeout (strong earning potential).
- 2% on Verizon purchases.
- 1% on all other purchases.
- Grade: A
Potential Monthly Rewards Breakdown with the Verizon Visa Credit Card
Here’s how many Verizon Dollars you could earn with average monthly spending:
| Category (Earn Rate) | Monthly Spend | Verizon Dollars Earned |
| Grocery (4%) | $500 | 20 |
| Gas (4%) | $180 | 7.2 |
| Dining (3%) | $350 | 10.5 |
| Verizon (2%) | $70 | 1.4 |
| All Other Spend (1%) | $500 | 5.0 |
| Total | $1,600 | 44.1 |
Redemption Options
- Rewards are earned as Verizon Dollars, which can be used for:
- Verizon bills (Wireless or Fios).
- New phones and accessories from Verizon.
- No option to convert rewards into cash, gift cards, or travel redemptions.
- Grade: B-
Additional Perks
- $10/month discount per eligible wireless line (up to 12 lines) for new AutoPay enrollees.
- 2 free TravelPass days per calendar year (worth $20) to cover roaming charges.
- Interest-free financing on Verizon accessories ($100+ purchases split into 12 monthly payments).
- No expiration on Verizon Dollars, though forfeiture rules apply.
- Automatic addition of the card to your Verizon account for payments.
- Instant approval for eligible customers.
- Grade: B
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Design & Features
- Sleek black card with a red Verizon “V” logo.
- Lacks perks like free shipping, extended warranties, or cell phone protection.
- Grade: C+
Overall Assessment Final Verdict – Should You Get the Verizon Visa Credit Card?
The Verizon Visa Credit Card is a great option for Verizon Wireless customers looking to save on their monthly bill and earn high cashback rates on everyday purchases. However, the major downside is the lack of flexible redemption options, as Verizon Dollars can only be used for Verizon-related expenses.
If you’re searching for a no-annual-fee card with cashback rewards that can be redeemed freely, other options may be better. But if you’re a loyal Verizon customer who plans to stay, this card could provide significant savings.
Final Grade: B
Other Alternatives for More Flexible Rewards
If you have fair or no credit or prefer cashback rewards you can use anywhere, consider these alternatives:
- Upgrade Triple Cash Card (No annual fee, cashback on everyday purchases, save on interest when making large purchases).
- OpenSky Secured Card (No credit check, helps build credit).
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Opinions, reviews, analyses & recommendations expressed in this article are the author’s alone and have not been endorsed or approved by any of the card issuers.
