Verizon introduced its very own credit card this morning, issued by Synchrony, as well as a new Verizon Dollars rewards system ideal for those who do a lot of shopping at the wireless carrier.
We aren’t Nerd Wallet, so we won’t get into the nitty gritty of the details, but we can give you an overview of what’s being offered. The big highlight for the Verizon card is Verizon Dollars, which are 1:1 with US dollars and there is no limit on how much you can earn. The only limitation is that you can only spend them with Verizon. Cardholders earn Verizon Dollars on every purchase when using the Verizon card. It’s a Visa, so it should be accepted virtually anywhere.
For purchases, when you think cash back percentages, you’ll receive 4% on gas and grocery store/delivery purchases, 3% on dining/delivery and curbside pick-up purchases, 2% on Verizon purchases, and 1% on all other purchases. Additionally, customers have the ability to claim Verizon Dollars through the Verizon Up program and combine them with those earned by spending on their card.
Perks for cardholders include the best pricing available on devices that Verizon sells, as well as being the only credit card that is eligible for an Auto Pay discount of up to $10/month per line on select Verizon plans. The carriers notes that new Auto Pay customers who enroll with the card can get the best pricing on Unlimited Verizon plans and new cardholders can get up to $100 in wireless bill credits over 24 consecutive months when they use a new Verizon Visa Card to pay their monthly Verizon bill.
Verizon provides this breakdown for a family of four, should you be the type to put all expenses on a credit card.
To ensure this is clear enough, there are no caps on rewards, no expiration dates for your Dollars, no annual fee for the card, and no foreign transaction fees.
Starting today through June 25, Verizon is giving qualifying customers early access to apply for the card with a chance to get up to $1,000 Verizon Dollars if approved. Customers can visit verizon.com/bethefirst to see full eligibility rules and learn how to qualify to apply to become one of the first cardholders before the official launch on June 26. Do note, the card itself is some fancy matte black metal, similar to the Apple Card. If you’re big into showing off, I suppose that’s better than plastic.
To apply for the Verizon Visa Card when it officially launches on June 26, you can visit verizon.com/yournewcard or apply through the My Verizon App.
Again, we don’t offer financial advice. All we can say is make sure to read the terms, double check your interest rates, and spend wisely.