Verizon Visa Card Review: Maximizing Your Everyday Spending
Get 4% back on gas and at grocery stores, 3% at restaurants, and 2% on Verizon purchases with the Verizon Visa® Card. Apply your rewards to pay your bill, purchase a new phone, or even towards travel or gift cards.
Table of Contents
Introduction
Are you a Verizon customer looking for ways to save on your monthly cell phone bill? The Verizon Visa® Card might be the perfect solution for you. With generous rewards on everyday purchases and no annual fee, this card promises significant savings. Let’s dive into a detailed review to see if it lives up to the hype.
Card Overview
Verizon Visa® Card
| Annual Fee | $0 |
|---|---|
| Rewards Rate | 1%-4% Cashback |
| Intro Offer | N/A |
| Intro APR | N/A |
| Regular APR | 18.99%-25.99% Variable APR |
| Recommended Credit Score | 690-850 (Good – Excellent) |
Pros and Cons
Pros
- No annual fee
- High rewards rate on common expenses
- Bonus categories for higher cashback
- No foreign transaction fees
- Autopay discounts for Verizon customers
Cons
- No cell phone protection
- Must be a Verizon customer to apply
- Limited redemption options
Detailed Review
Rewards Structure
The Verizon Visa® Card offers impressive rewards for a no-annual-fee card. Here’s how you can earn cashback:
| Purchase Category | Cashback Rate |
|---|---|
| Grocery stores | 4% |
| Gas stations | 4% |
| Restaurants (including takeout and delivery) | 3% |
| Verizon purchases | 2% |
| All other purchases | 1% |
These rates can quickly add up, especially if you use the card for everyday expenses.
Redemption Options
Your rewards come in the form of “Verizon Dollars,” which can be redeemed for:
- New phones or accessories
- Paying your monthly Verizon bill
- Travel booked through Verizon’s portal
- Gift cards through Verizon
However, cashback is not an option, and rewards can only be redeemed through Verizon.
Interest Rate
The ongoing APR for the Verizon Visa® Card ranges from 18.99%-25.99% Variable APR. There is no introductory APR for purchases or balance transfers.
Travel Benefits
Cardholders receive two free TravelPass days per calendar year, allowing you to use your phone outside the U.S. without extra charges. Additionally, there are no foreign transaction fees, making it a good option for international travel.
Comparison to Other Cards
| Card | Annual Fee | Intro APR | Regular APR | Recommended Credit Score |
|---|---|---|---|---|
| Citi Double Cash® Card | $0 | 0% intro APR on Balance Transfers for 18 months | 19.24%-29.24% Variable APR | 630-850 (Fair – Excellent) |
| Discover it® Cash Back | $0 | 0% intro APR for 15 months on purchases and balance transfers | 18.24%-28.24% Variable APR | 690-850 (Good – Excellent) |
| Chase Freedom Unlimited® | $0 | 0% intro APR on purchases and Balance Transfers for 15 months | 20.49%-29.24% Variable APR | 690-850 (Good – Excellent) |
Benefits and Perks
Everyday Spending Turns Into Savings
Using the Verizon Visa® Card, you can save significantly on your Verizon bill. For example, if you spend $300 a month at grocery stores, $50 on gas, $100 at restaurants, and $300 on other expenses, you would earn $22.20 in Verizon Dollars each month. Over a year, this could shave more than 20% off your phone bill.
Autopay Discounts
Verizon customers can get up to $10 a month off their bill per account or line (depending on their plan) if they sign up for autopay and paperless billing with the Verizon Visa® Card.
Automatic Account Integration
When you apply and get approved for the Verizon Visa® Card, it is automatically added to your Verizon account as a payment option, making autopay setup straightforward.
Interest-Free Financing
The card offers interest-free financing for eligible accessory purchases of $100 or more, spread over 12 equal monthly payments.
Drawbacks and Considerations
Limited Redemption Options
The rewards can only be redeemed through Verizon, which might be a dealbreaker for those looking for cashback or broader redemption options.
No Cell Phone Protection
Unlike some other cards, the Verizon Visa® Card does not offer cell phone protection, which could be a downside for those prone to phone mishaps.
Verizon Customer Requirement
You must be a Verizon customer to apply for this card, limiting its appeal to non-Verizon users.
FAQ
Q: What is the annual fee for the Verizon Visa® Card?
A: The Verizon Visa® Card has no annual fee.
Q: How are the rewards earned with this card?
A: Rewards are earned as Verizon Dollars, with rates of 4% at grocery stores and gas stations, 3% at restaurants, 2% on Verizon purchases, and 1% on all other purchases.
Q: Can I redeem my rewards for cash?
A: No, rewards can only be redeemed through Verizon for phone bills, new devices, travel, or gift cards.
Q: Are there any travel benefits?
A: Yes, the card offers two free TravelPass days per year and no foreign transaction fees.
Q: What is the ongoing APR for this card?
A: The ongoing APR ranges from 18.99%-25.99% Variable APR.
Q: Is cell phone protection included?
A: No, the card does not offer cell phone protection.
Q: Can I apply for this card if I am not a Verizon customer?
A: No, you must be a Verizon customer to apply for the Verizon Visa® Card.
The Bottom Line
The Verizon Visa® Card is a solid choice for Verizon customers looking to save on their cell phone bill and earn rewards on everyday purchases. With no annual fee, high cashback rates in popular spending categories, and unique benefits like autopay discounts, it offers significant value. However, its limited redemption options and lack of cell phone protection might not appeal to everyone. If you are a Verizon customer, this card could be a great addition to your wallet.
