Verizon Visa Card Review: Turn Everyday Spending into Cell Savings

Get 4% back on groceries and gas, 3% at restaurants and 2% at Verizon. Use your rewards to pay your bill or buy a new phone.

Paul SoucyNovember 19, 2020
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Our Take

4.9

NerdWallet rating 

The bottom line: No, redeeming rewards for phone service isn't as sexy as using them for a tropical vacation. But this card is ideal for Verizon customers just looking to slash their monthly bill without much extra effort.

Verizon Visa® Card

on Synchrony Bank's website

on Synchrony Bank's website

Annual Fee

$0

Regular APR

18.74% - 25.74% Variable APR

Intro APR

N/A

Recommended Credit Score

Quick Facts

Pros & Cons

Pros

  • No annual fee

  • High rewards rates

Cons

  • Rewards redeemable only with Verizon

Alternate Pick: 2% rewards on everything

Citi® Double Cash Card
NerdWallet rating 

Citi® Double Cash Card – 18 month BT offer

Nothing's more flexible than cash

This card earns a flat 2% cash back: 1% when you buy something and another 1% when you pay it off. The straightforward structure translates into a high rewards rate on everything. Plus, cash is a reward you can use for anything, not just your phone bill.

Read our review

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual Fee

$0

Annual Fee

$0

Annual Fee

$0

Regular APR

18.74% - 25.74% Variable APR

Regular APR

13.99% - 23.99% Variable APR

Regular APR

11.99% - 22.99% Variable APR

Rates & Fees

Intro APR

N/A

Intro APR

0% intro APR on Balance Transfers for 18 months

Intro APR

0% intro APR for 14 months on purchases and balance transfers

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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Full Review

The Verizon Visa® Card, issued by Synchrony Bank, offers close-to-jaw-dropping rewards in common spending categories for a card with a $0 annual fee. They include 4% back on groceries and gas, 3% back at restaurants and 2% on Verizon purchases.

The generous rates on everyday expenses mean your rewards can add up fast. (Use our calculator below to see for yourself.) The catch? The rewards are redeemable only with Verizon. That might be a buzzkill for someone who prefers maximum flexibility with their credit card rewards. But for a Verizon wireless customer just looking to slash the effective cost of their monthly service or sock away money for their next phone, the Verizon Visa® Card is second to none.

The Verizon Visa® Card is available only to Verizon wireless customers, which makes sense, because the rewards are only of use to Verizon wireless customers.

Verizon Visa® Card: Basics

Card type: Rewards.

Annual fee: $0.

Sign-up bonus: Up to $100 in credit applied over the next 24 monthly wireless bills ($4.17 per month) when you use the card to pay your Verizon bill.

Rewards: 

  • 4% back at grocery stores.

  • 4% back at gas stations.

  • 3% back at restaurants, including takeout and delivery.

  • 2% back on Verizon purchases.

  • 1% back on all other purchases.

There's no limit to the rewards you can earn, and rewards don't expire. As long as you remain a Verizon customer and you earn or redeem rewards on the card at least once every 24 months, you can hold onto them as long as you want.

Redemption options: Purchases with the Verizon Visa® Card earn rewards called "Verizon Dollars," which you can spend only with Verizon. Each Verizon Dollar is worth $1 when applied toward a new phone or accessories, or to pay your monthly bill for Verizon cell phone service or Fios internet.

Interest rate: The ongoing APR is 18.74% - 25.74% Variable APR.

Travel benefits:

  • Two free TravelPass days per calendar year. TravelPass lets you use your phone outside the U.S. It usually costs $5 a day in Canada and Mexico and $10 a day elsewhere.

  • No foreign transaction fees.

Why you might want the Verizon Visa® Card

Everyday spending turns into cell phone savings

The Verizon Visa® Card is effectively a store-branded Visa card: You can earn rewards anywhere that accepts Visa, but you can redeem those rewards only with Verizon. That relative lack of rewards flexibility will undoubtedly turn some people off.

But there's also a key difference from typical store cards. If you have $50 in rewards piled up on a store card, you have to make another purchase at the store to redeem them. If you don't need or want anything from that particular store right now, your rewards are useless. If you have the Verizon Visa® Card, however, you're already paying for Verizon wireless service every single month, so you always have an opportunity to redeem your rewards.

If you were to put all your purchases on the card and then apply your rewards toward your Verizon payment, you could take a decent chunk out of your monthly cell phone bill. Say your household spends $300 a month on groceries, $50 on gas, $100 at restaurants and $300 on other expenses that could go on a credit card, and you also use the card to pay your $110 Verizon bill. Every month, you'd earn $22.20 worth of Verizon Dollars, enough to shave more than 20% off your phone bill.

See how you'd do with your own spending:

The card qualifIES for autopay discounts

Verizon customers can get a discount of up to $10 a month per account or per line (depending on their plan) if they sign up for autopay and paperless billing. Ordinarily that discount is available only for those who pay their bill from a bank account or with a debit card. Credit card payments aren't usually eligible. But if you autopay with the Verizon Visa® Card, you can get the discount.

Automatic account integration

You can't get the Verizon Visa® Card unless you're a Verizon wireless customer with at least one active line on your account (but no more than 10). To even apply, you have to sign in to your Verizon account online. When you're approved, the card is automatically added to your account as a payment option. That makes setting up autopay with the card easy.

You're also automatically enrolled in Verizon Up, the carrier's rewards program. That's where you can see your Verizon Dollars balance. Verizon Up participants are able to choose a "monthly reward" every month. Typical options include gift cards, movie tickets, discounts and ... bonus Verizon Dollars to knock even more off your bill.

Nerd tip: If you're already a Verizon Up member when you sign up for the card, any Device Dollars in your account balance will be converted to Verizon Dollars. Verizon Dollars are much more flexible than Device Dollars, which, for example, can't be used to pay your monthly bill.

Why you might want a different card

You can't use rewards anywhere but Verizon

If you like to save up credit card rewards to pay for a vacation or a big-screen TV or anything else you can't get from your wireless carrier, the Verizon Visa® Card probably isn't for you. You can redeem your rewards through Verizon and nowhere else. If it helps, consider that every dollar saved on your phone bill is a dollar you have available for something else. So it's kind of an indirect cash-back card.

For simple rewards you can use anywhere, consider a card like the Citi® Double Cash Card – 18 month BT offer, which earns 2% cash back on every purchase (1% when you buy, and 1% when you pay it off), or the Capital One Quicksilver Cash Rewards Credit Card, which earns a flat 1.5% cash back on everything and allows you to earn a substantial cash sign-up bonus.

No cell phone protection

Considering that an increasing number of credit cards are offering cell phone protection as a perk if you pay your wireless bill with the card, it's worth noting that the Verizon Visa® Card does not. This isn't exactly surprising, since offering such a perk would undercut Verizon's ability to sell add-on device insurance to customers. Still, if you were hoping your cell phone credit card would protect your cell phone: nope.

Should you get the Verizon Visa® Card?

The value proposition on the Verizon Visa® Card is simple: The more you use the card for your everyday expenses, the more you can cut your wireless bill. Using credit card rewards to save on cell phone service might not be as fun or sexy as redeeming them for a tropical vacation, but it's extremely practical.

Cell service is pretty much a necessity in today's world, and reducing that expense month after month might be more meaningful to you than piling up points toward a hypothetical getaway. If you're a Verizon customer who wouldn't mind reducing your phone expenses without much effort required on your part, the Verizon Visa® Card might have your number.

on Synchrony Bank's website

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