Verizon Visa Card Review

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The new Verizon Visa Card, issued by Synchrony Bank, has a generous rewards-earning structure, which can help Verizon Wireless customers trim their monthly bills. Though you can only use your rewards points (called Verizon Dollars) on Verizon expenses or purchases (like that new phone you’ve been eyeing), the savings can really add up, making it worthwhile for some Verizon customers.

Verizon Visa Signature® Credit Card

overall rating
2.7
Verizon Visa Signature® Credit Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.49% - 22.49% variable
Annual Fee $0
Rewards Earning Rate Earn 4% back in Verizon Dollars on grocery store and gas purchases, 3% on dining purchases, 2% on Verizon purchases, and 1% on all other purchases.
Ratings Breakdown
for Interest
2.2
for Fees
3.4
for Rewards
2.4
for Credit
2.2
Current Offer

New cardholders can get up to a total of $100 in credit applied to their Verizon wireless bills. The reimbursement will show up as a $4.17 monthly credit on eligible Verizon Wireless bills over a period of 24 months.

Who Is This Credit Card Best For?

  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain See more cards
    Deal Seeker
  • Avatar for Family Shopper Persona
    Looks for good quality at a fair price while buying for the household See more cards
    Family Shopper
  • Avatar for Trendsetter Persona
    Loves being the first to try something new See more cards
    Trendsetter
  • Avatar for Brand Loyalist Persona
    Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
    Brand Loyalist

If you’re a Verizon loyalist who spends a lot on the company’s services (including Fios), this card could unlock some nice savings on cellphone and wireless expenses. It follows the structure of many co-branded retail cards in that the rewards you earn can only be redeemed on Verizon purchases. Therefore, if you’re looking to get cash back or redeem points for travel, this isn’t the card for you.

That said, the rewards can add up nicely if you’re OK with using them to offset your Verizon bill or to help pay for your next phone upgrade.

To be eligible for the Verizon Visa Card, you must use Verizon’s wireless service. If you have Verizon Fios only but not a cellphone plan, you will not qualify for the card.

Pros
  • High rewards-earning rates

  • Cellphone bill savings that add up

Cons
  • Limited redemption options

  • Loopholes in the $10 off/month promotion

Pros Explained

  • High rewards-earning rates: Getting 4 points per dollar spent on gas and groceries, and 3 points per dollar spent on dining is very appealing, and a high rate among no-annual-fee rewards cards. If you spend the same amount as the average household on groceries—about $378 per month, according to the Bureau of Labor Statistics—you have the potential to earn $15 back just from grocery spending every month. If you also use the card for gas and dining, you can tack on even more rewards.
  • Cellphone bill savings that add up: The 2 points per $1 earned on Verizon purchases can effectively serve as a discount on subsequent monthly bills if you set up auto pay on the card. This can be significant if you have multiple phone lines and/or other services like Fios bundled in. For instance, on a $300 per month bill, you’d earn the equivalent of $6 off just for paying it (and that doesn’t include the other Verizon Dollars earned in other categories). 

Cons Explained

  • Limited redemption options: The Verizon Visa card allows you to save money on Verizon wireless expenses and purchases, but that’s all you can redeem your rewards for. There is at least one other cellular co-branded credit card that allows its cardholders to redeem for a lot more, including gift cards and travel.     
  • Loopholes in the $10 off/month promotion: In its list of card benefits, Verizon touts the opportunity to save $10 per month per line by enrolling in Verizon’s auto pay with the card, along with paper-free billing. This sounds great, but read the fine print: If you’re a Verizon customer who’s already enrolled in auto pay using a bank account or debit card and paper-free billing, you won’t get this discount for re-enrolling with the card.

Bonus for New Cardholders

New cardholders can get up to $100 in credit applied to their Verizon wireless bills. However, you’re going to have to wait two years to enjoy the full benefit since it will be spread out as a monthly credit on your Verizon Wireless bill over 24 months. This comes out to $4.17 off your monthly bill, and to be eligible, you must use the Verizon Visa Card or Verizon Dollars to pay the bill. 

This bonus is lackluster compared to typical new cardholder bonuses—including one from a cellular competitor’s card—in which you get an instant boost of rewards after meeting a minimum spending requirement in the first few months of account opening. 

Earning Points & Rewards

The real appeal of this card is its rewards-earning potential. Cardholders get 4 points per $1 spent on gas and grocery store purchases, 3 points on dining/delivery and curbside pick-up purchases, 2 points on Verizon purchases, and 1 point on all other purchases. 

This card’s highest earnings categories—groceries and gas, followed by dining—are on par with or better than similar co-branded retail cards on the market—and even some cash-back cards. You can really rack up the rewards. And as mentioned above, even at 2 points per dollar, the rewards you earn on Verizon spending translate to easy savings if you use the card to pay your cellphone or Fios bill.

Another good thing: Points never expire and there are no caps on earnings. The only time you will forfeit any unused Verizon Dollars is if there is no account activity for 24 months, or if you cancel the last remaining wireless line on your Verizon Wireless account. If you close the credit card account, your Verizon Dollars will remain active for 90 days.

Redeeming Rewards 

All of the redemption options for the Verizon Visa credit card involve Verizon products and services. You can redeem your Verizon Dollars to:

  • Buy a smartphone, basic phone or tablet upgrade, or new line of service
  • Buy eligible Verizon wireless accessories 
  • Make a down payment on a device payment agreement 
  • Pay off a device payment agreement
  • Pay your Verizon wireless or Fios bill

How to Get the Most Out of This Card

Your goal with this card should be to reduce your monthly Verizon bill. If you do the bulk of your grocery, gas, and restaurant spending with this card, plus enroll the card in auto pay to cover your Verizon bill each month, you can easily achieve double-digit percentage savings on your bill. Considering that the average cellphone bill was $157 per month as of 2017, any chance to bring that cost down is a good thing.

Here’s an example: Spend $300 on groceries, $100 on gas, $200 on dining out, and pay your $160 Verizon bill, and that’s about $25 Verizon Dollars earned. 

Then, if you also qualify for the $10/month auto pay/paperless discount, and add in the $4.17 credit from the new cardholder bonus, you’d be at just about $39 off of your $160 Verizon bill—a 24% discount. That’s a great deal for a card that charges no annual fee.

Verizon Visa Credit Card’s Other Features 

The Verizon Visa credit card offers one unique benefit: 

  • Two free TravelPass days: This provides free talk, text, and data from more than 185 countries—a value of $20. The cardholder can choose which phone line on their account gets the TravelPass benefit.

If you qualify for the higher-tier Verizon Visa Signature card, you’ll also get a few additional perks including:

  • Rental car collision insurance (secondary to your own policy)
  • Roadside assistance hotline
  • Concierge for booking event tickets, travel, and other services
  • Discounts on certain hotel and golf purchases

Customer Experience

Synchrony Bank is not really known for top-notch customer service, and ranked ninth out of 11 credit card issuers in J.D. Power’s 2019 Credit Card Satisfaction Study. It only scored a two out of five rating (placing it among “The rest”). That said, you can get customer support 24/7 via Synchrony’s hotline. You can also manage your account in a couple of ways: using the Verizon Visa card app or Synchrony’s website. The Verizon Visa card can also be added to a mobile wallet.

Security Features 

Security features are standard for the industry, including zero liability for fraudulent purchases.

Verizon Visa Card Fees

Fees on this card are typical for this type of credit card, but it’s worth noting that there is no annual or foreign transaction fee—always a consumer plus!

Next Steps
For Verizon Visa Signature® Credit Card
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CURRENT CARD
Verizon Visa Signature® Credit Card
overall rating
2.7
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.49% - 22.49% variable
Annual Fee $0
Rewards Earning Rate Earn 4% back in Verizon Dollars on grocery store and gas purchases, 3% on dining purchases, 2% on Verizon purchases, and 1% on all other purchases.
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Bureau of Labor Statistics. "Consumer Expenditures -- 2018," Page 5. Accessed June 29, 2020.

  2. Verizon. "Verizon Visa Card FAQs – Earn Verizon Dollars and Get Verizon Up Rewards." Question #3. Accessed June 29, 2020.

  3. Verizon. "The Verizon Visa Credit Card and The Verizon Visa Signature Credit Card Rewards Program Terms and Conditions." Accessed June 29, 2020.

  4. Verizon. "Verizon Visa Card FAQs – Earn Verizon Dollars and Get Verizon Up Rewards." Question #2. Accessed June 29, 2020.

  5. J.D. Power. "2018 U.S. Wireless Purchase Experience Studies." Accessed June 29, 2020.

  6. Verizon. "The Verizon Visa Signature Credit Card Guide to Benefits." Accessed June 29, 2020.

  7. J.D. Power. "Credit Card Rewards War Reaches Inflection Point as Competition Grows, J.D. Power Finds." Accessed June 29, 2020.