In the increasingly competitive world of rewards credit cards, Verizon has stepped up its game with the Verizon Visa Credit Card. Launched in June 2020, the card offers a variety of benefits and perks for Verizon customers, making it an attractive option for those loyal to the telecommunication giant. In this 2023 review, we’ll take a closer look at the features, rewards, and potential drawbacks of this credit card offering.

Features and Benefits

1. No Annual Fee: The Verizon Visa Credit Card comes with no annual fee, making it an appealing choice for customers looking to maximize their rewards without incurring additional costs.

2. Reward Points: Cardholders earn 4% back on eligible gas and grocery store purchases, 3% back on dining (including takeout and delivery), 2% back on Verizon purchases, and 1% back on all other purchases. These reward points can be redeemed as Device Dollars for discounts on Verizon products and services or used to pay your monthly Verizon bill.

3. Device Dollars: The rewards earned through the Verizon Visa Credit Card are converted into Device Dollars – every 100 reward points you earn translates to $1 in Device Dollars. These can be applied towards the purchase of new devices or accessories from Verizon or used to offset your monthly bill.

4. Introductory Offer: New cardholders can take advantage of a one-time promotional offer and receive up to $100 in credit when they use their card for purchases within the first 30 days.

5. Pay with Points: Using the Verizon Visa Credit Card, you can pay your monthly bill using your reward points directly through the My Verizon app.

6. Auto Pay Discount: By enrolling in Auto Pay with your Verizon Visa Credit Card, you can save up to $10 per line per month on eligible plans.

Potential Drawbacks

While there are many desirable features to the Verizon Visa Credit Card, there are also a few potential drawbacks to consider:

1. Limited Use of Device Dollars: The rewards earned in the form of Device Dollars can only be redeemed for Verizon products and services or applied towards your monthly bill. They cannot be exchanged for cash or used at other retailers.

2. Exclusivity: The card is exclusively available to Verizon Wireless customers. This may limit its appeal to those who don’t already use their services or are unwilling to switch providers.

3. Foreign Transaction Fees: When making purchases outside of the United States, the card incurs a 3% foreign transaction fee, which may be a drawback for frequent international travelers.

Conclusion

The Verizon Visa Credit Card offers an enticing rewards program and valuable perks for dedicated Verizon customers, with its generous cashback rates in popular categories and potential savings on monthly phone bills. However, the card’s rewards’ limited usability and exclusivity to Verizon customers may make it less attractive for those not already invested in the Verizon ecosystem.

Overall, if you’re a current Verizon customer seeking a credit card with no annual fee and strong reward options directly related to your telecommunication needs, the Verizon Visa Credit Card may be worth considering. If you are looking for more versatile rewards or you’re not a Verizon customer, other credit cards might provide better value in accordance with your needs and preferences.