UPDATE: Readers have pointed out that you can get the same $10 per month discount by auto-paying your Verizon bill with a debit card or bank account. To me, this significantly reduces the added value of this Verizon Visa Card.
The Verizon Visa Card appears to be a solid choice Verizon Wireless customers, especially those who pay for multiple lines on a single bill. The reason? If you set up Autopay to the Verizon Visa Card, you’ll get $10 off per month per line on up to 10 lines. So, for example, a family with 4 lines will save $40 per month or $480 per year by simply setting up their account to auto-pay their monthly bill with the Verizon Visa Card.
| Card Offer and Details |
|---|
Up to $200 in statement credits ⓘ Non-Affiliate $100 credit with 5G phone offer and $100 statement credit after first purchase within 90 days of account opening. No Annual Fee Earning rate: Earn Verizon Dollars: 4% grocery, gas, dining and Verizon purchases (exlcudes monthly bill) ✦ 1% everywhere else Card Info: Visa Signature issued by Synchrony. This card has no foreign currency conversion fees. Noteworthy perks: $10 per month savings per line (up to 10 lines) by using card for Autopay ✦ No foreign transaction fees. |
Beyond the $10 per month per line savings, the card also offers very good grocery and gas earnings (4%) and decent dining earnings (3%). Rewards are in the form of Verizon Dollars which can be used to pay your monthly statements or anything else from Verizon (such as a new phone). The card also offers no foreign transaction fees and no annual fee. You must be a Verizon customer to sign up for this card.
Bottom line: If I was a Verizon customer I’d be tempted. In my case, we have multiple family members on our AT&T account. If I could sign up for a single free credit card in order to save $10 per month per line, I would do it.
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I’ve considered this card for a while and eventually may just get it. I’m the kind person who refuses to allow anything that is NOT a 100% fixed cost to ever auto deduct from any checking account I have so a cell phone bill that has fees that can go up and down at the carrier’s whim is a definite no no. Using a debit card for anything is just totally against everything us point chasers believe in. I’ve thought of getting a dedicated checking account just for the verizon bill, but stopped short of that when AmEx started issuing a $20/month wireless service credit this year. For one or two lines that totally made this card practically useless. As much as I’d hope that AmEx continues that credit for next year I’m not counting on it. So then this card may make a bit of sense. One thing that gets missed is the 2% of the bill credited as ‘verizon dollars’ (or whatever they call it). If you get 2% of the bill in credit that does equate to a few dollars per month. Two lines can add up to about $35 a year. Not a huge amount, but it’s still something to look at. Considering it’s no annual fee and has some decent categories for bonus earning, it’s not totally a terrible card really. Not earth shattering, but not terrible either.
Is it clear that this discount stacks with the already available $10 autopay+paperless discount? For that one, you have to link to a debit or bank account. If they’re just making this credit card eligible for that same discount, it’s not really an added benefit.
Answered this myself – there is no further benefit:
There is an additional $100 benefit – spread over 24 mos and anytime you use a card other than the Verizon Visa, you will not get the $4.17 credit.
This card appears to have little value.
If you can MS grocery spend like $2000 per month then you can shave off $80 – any MS cost per month.
Raghu
You are correct. Verizon is being not as honorable as it appears. I currently pay with a debit card because the savings is greater using the debit card than the amount I would earn with an Ink rewards card. In the small print they say that if you are already using a debit card to pay you will not be permitted to switch to their Visa Card. Only customers switching to auto pay for first time get to have the savings applied to their account. For fairly savy Verizon customer there is not benefit in the card over the benefits already received by using other cards in my wallet. If Verizon wants to get alot of customers for their credit card they are going to need to be more generous with their only source of customer for the card – the people that use Verizon Wireless – and especially the majority who are probably already on autopay.
See my comment above, you have your cake and eat it too
Not in this case. Your workaround allows you to bypass the requirement for a debit card to get the initial $10 discount per line. The point we’re making here is that the card does not give you any additional benefit. If you already have the autopay discount, this card does not add anything further (or if you don’t have the discount it is easily attainable without getting the card).
Thanks for the review ! A few comments: many have the grandfathered Verizon plan with unlimited lines for $20 each which is only eligible for $10 plan wide credit (not per line)
Another trick is that you can pre pay per of your balance using a card like ink cash and leave over only a small part to be paid with auto pay and still receive the $10 discount
Does this actually work for you? I had mine set up for autopay and received the discount the first 2 months. Then the 3rd month (January 2020) I decided to pay all but about $5 with my ink card. They pulled the remaining $5 through autopay, then tacked on an extra $40 on the following bill.
In my experience It does. You need to leave over a few extra dollars on top of the discount.
Hi Abey
I have unlimited plan. Recently with the covid amex plat benefits. I prepaid $40 per billing cycle with my amex plat. I get $5/line for debit card and $5/line for paperless. Once I prepaid verizon added $15 to my bill for violating non debit payment ($5 X 3 lines). So prepayment does not work. I do leave a balance for auto pay, but it has never worked