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New No-Fee Verizon Visa Card to Earn 4x on Groceries/Gas

DDG
DDG

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New No-Fee Verizon Visa Card to Earn 4x on Groceries/Gas

Verizon announced Monday it will launch a new credit card. It will be called simply the Verizon Visa card and will become available on June 26. For now you can just join a wait-list to be one of the first to get it.

The card will work just like most credit cards out there, but will earn Verizon Dollars that users can redeem toward their monthly bill payments or Verizon purchases. The card will earn up to 4% back and has no annual fee. It will also be the only credit card eligible for use on Auto Pay.

Signup Bonus

New cardholders will receive up to $100 in wireless bill credits over 24 consecutive months for monthly bill payments.

The Verizon Visa Card will officially launch on Friday, June 26. You can apply in-store, by phone, online or through the My Verizon app. Now through June 25, Verizon is also giving qualifying customers early access. You’ll also earn a share of a one million Verizon Dollars prize if you early.

Earning Structure

Verizon Visa cardholders will earn Verizon Dollars on every purchase, based on the category as follows:

  • 4% on gas and grocery store/delivery purchases
  • 3% on dining/delivery and curbside pick-up purchases
  • 2% on Verizon purchases
  • 1% on all other purchases

Verizon Dollars

The rewards program on this card is on of the biggest flaws. if you are not a Verizon customer, then this card will not make sense for you.

The Verizon Visa Card earns Verizon Dollars. They are only redeemable for Verizon purchases at a rate of 1:1, so $1 is equal to $1 Verizon Dollar. There are no caps to the amount of Verizon Dollars that you can earn and rewards never expire.

Other Benefits

  • No foreign transaction fees.
  • Card is eligible for Auto Pay that get you up to $10 off monthly on your bill
  • No annual fee.

Conclusion

This card is clearly geared towards Verizon customers. The earning structure includes some great bonus categories such as 4x on groceries and 3x on dining and food delivery. But those rewards can only be redeemed at Verizon, which is a huge limitation.

Let us know what you think.

HT: TPG

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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At Miles to Memories we share the best tips, tricks and deals plus travel rants, musings, hotel, airline and loyalty program reviews and a lot more! Our goal is to help people save money so they can get out there and travel the world! Through our various blog posts, podcasts & videos we teach others how to maximize loyalty rewards, hotel & airline programs and credit cards to achieve amazing things.

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