Talk of a new Verizon credit card began earlier this year. This week, the communications giant started the rollout of its new rewards credit card with Synchrony Bank. Here’s everything you need to know about the new Verizon Dollars credit card.
New Verizon Visa Card Details
The new credit card is the Verizon Visa Card. The new card product is a joint venture between Verizon and Synchrony – one of the largest issuers of retail and co-branded credit cards on the market today.
The Verizon Visa earns cash back on all purchases, with use in select categories earning more rewards. Gas station and grocery store purchases earn 4% back, while dining purchases earn 3% back., and Verizon purchases receive 2% back. All other purchases with the card earn 1% back.
Limited Time Signup Bonus
While the Verizon Visa hasn’t launched yet, the company is offering a decent signup bonus through the early access link. All those approved during the early access period will split $1 million Verizon Dollars equally. Verizon claims this offer is worth up to $1,000, but the reward will likely be much less.
What Are Verizon Dollars?
While Verizon presents the rewards as cash back, they are really Verizon Dollars. This currency applies towards purchases with Verizon, including new phones, services, and bills. According to the company, this process offers cardholders “the best things at Verizon.”
One of the excellent features of the card is that it allows Verizon Unlimited wireless customers to save extra when they signup for autopay. Simply use the Verizon Visa Card to pay your Unlimited bill each month through autopay and save up to $10 per month, per line.
Other Card Features
Other notable features with the new Verizon Visa Card include:
- Two free TravelPass vouchers per year. TravelPass provides Verizon customers the ability to use domestic talk, text, and data in over 186 countries outside the U.S.
- No limits on the amount of Verizon Dollars earnable
- Verizon Dollar rewards never expire
- No annual fee
- No foreign transaction fees
Should You Consider the Verizon Visa Credit Card?
Is the Verizon Visa worth the hype? That depends on how many services you currently have with the company. For those that bundle their internet, television, and mobile phones with Verizon, it looks like a decent offer. The value is especially useful for those who want to save money with Verizon.
For those looking for more well-rounded value, cards like the Amazon Prime Rewards Visa Signature are a great choice. That card features no annual fee but requires a Prime membership (a $119 per year value). Still, it earns 5% cash back on Amazon.com and Whole Foods purchases. It doesn’t, however, match the Verizon Card in gas rewards. Only the PenFed Platinum Rewards can do that, but it lacks the overall value of the new Verizon Card.
Related Article: SoFi Aiming for Launch of New Cash Back Credit Card