The
Verizon Credit Card is a good credit card for Verizon wireless customers with
good credit or better (
700+ credit score recommended) whose top expenses include gas/EV charging, dining and groceries. It has a
$0 annual fee, so it’s easily worthwhile. You just need to pay the monthly bills in full to prevent interest charges from kicking in, and you’ll save money with the rewards.
In addition to good ongoing rewards, the Verizon Card has some helpful sign-up promotions. They include a pair of initial rewards bonuses and a
0% introductory APR. You can learn more below.
What I Like About the Verizon Credit Card
$200 initial bonus
The
Verizon Credit Card gives you
$50 statement credit after making a purchase in the first 90 days, plus $150 statement credit after spending $1,500 in the first 90 days. That’s not the biggest bonus on the market, but it is a pretty good deal considering the spending required to get it – especially the first installment. It could cover or significantly subsidize your Verizon bill one month.
4% in Verizon Dollars back in popular spending categories
Earning
4% in Verizon Dollars back is excellent, considering the average rewards card gives you about 1% back. It’s also nice to see that the card’s bonus rewards aren’t just limited to Verizon purchases. The
4% in Verizon Dollars rate applies to:
• Verizon purchases (excluding your monthly Verizon bill)
• Gas
• EV charging stations
• Dining (including takeout and delivery)
You can redeem the rewards that you earn for credits toward Verizon products and services, including your Verizon bill.
$0 annual fee
This saves you an average of
$26.75, compared to other credit card offers, according to
WalletHub research. It also means that owning the card should be worthwhile as long as you avoid interest charges.
0% APR promotion
This is pretty standard for a card offering a 0% introductory APR. WalletHub’s
Credit Card Landscape Report shows that the average 0% promotion available right now lasts for
11 months.
Still, a year without interest is better than enduring the high rates we’re dealing with in general these days. So, this feature could be useful, and even save you a lot of money, but it shouldn’t be the main reason you apply for this card.
TravelPass days and autopay discounts
Cardholders get 2 free TravelPass days each calendar year. These passes are worth $20, and they each get you 24 hours of unlimited text, calls, and data in 210+ countries and territories.
In addition, if you sign up for automatic payments and monthly billing, you can get a $10 monthly discount for each eligible account/line, up to a maximum of 12. This does not apply if you’re already enrolled with your main Verizon account, though.
What I Don’t Like About the Verizon Credit Card
22.99% - 33.99% (V) APR
Carrying a balance from month to month when the
Verizon Credit Card’s normal interest rate is in effect will effectively rob you of any savings this card might otherwise provide. The rate you’re assigned could be high or extremely high, depending on your overall creditworthiness when you apply.
The good news is that you can avoid expensive interest charges by paying your statement balance in full every month after the low-interest introductory promotion ends. You should also avoid balance transfers.
High balance transfer fee
Not only does the
Verizon Credit Card charge a higher-than-average balance transfer fee, but its low-interest promotion also does not apply to balance transfers. The regular APR applies from the start.
If you want to reduce the cost of debt, consider one of our
editors’ picks for the best balance transfer credit cards instead.
1% in Verizon Dollars back on most purchases
It’s common for rewards cards to offer just
1% in Verizon Dollars back as a minimum rewards rate, but that doesn’t change the fact that you can do better. That’s especially true in this case because you’re earning Verizon Dollars rather than true cash back.
Redemption limitations
You don’t get much of a choice when it comes to how you redeem the rewards you earn with this card. You’re stuck with Verizon credits.
Good credit required for approval
This isn’t totally unexpected, considering how good the card’s terms are, but a significant percentage of Verizon customers do not have the credit history needed to qualify for the
Verizon Credit Card.
If you’re not sure about your situation, you can
check your credit score for free right here on WalletHub. If your score is
700 or higher, you should have good odds of being approved.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
