Verizon Visa

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rage_phish
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Verizon Visa

Post by rage_phish » Mon Jun 22, 2020 1:19 pm

Thoughts on the new credit card? We would only use it to pay our Verizon bill and get a discount as the 2% back

https://www.verizon.com/be-the-first/?C ... 0109_00001

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prudent
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Re: Verizon Visa

Post by prudent » Mon Jun 22, 2020 1:26 pm

The promotion seems to be limited to VZ wireless customers. The T&C state the VZ discount would apply to FIOS as well, but it doesn't seem like you can apply for the card unless you have VZ wireless.

rgs92
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Re: Verizon Visa

Post by rgs92 » Mon Jun 22, 2020 1:37 pm

The Verizon branded credit card only gives you 2% back on Verizon purchases? That does not sound too good. Any 2% cash back card would give you that.

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prudent
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Re: Verizon Visa

Post by prudent » Mon Jun 22, 2020 1:43 pm

That is strange - 4% on groceries/gas (that's pretty good), 3% on dining (also pretty good), then only 2% on VZ purchases. You'd think they give the best discount on their own stuff. I couldn't find any reference to an annual fee (or a reference to say there is no annual fee).

dukeblue219
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Re: Verizon Visa

Post by dukeblue219 » Mon Jun 22, 2020 1:49 pm

rgs92 wrote:
Mon Jun 22, 2020 1:37 pm
The Verizon branded credit card only gives you 2% back on Verizon purchases? That does not sound too good. Any 2% cash back card would give you that.
And it's all in the form of Verizon Dollars. Yeah, you can then use those rewards to pay your cell bill so it's like cash in hand, but still...

I don't mind having separate Target and Prime credit cards since those give 5% back at Target and Amazon/Whole Foods, plus they run special deals all the time. However, I would have no interest in a Verizon card just for 2% back on my Fios and cell phone (if I had VZ) bills. That's little better (some times worse) than other general purpose cards. I'm really surprised it isn't 5% back on Verizon like other branded cards.

TravelGeek
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Re: Verizon Visa

Post by TravelGeek » Mon Jun 22, 2020 2:41 pm

prudent wrote:
Mon Jun 22, 2020 1:43 pm
That is strange - 4% on groceries/gas (that's pretty good), 3% on dining (also pretty good), then only 2% on VZ purchases. You'd think they give the best discount on their own stuff. I couldn't find any reference to an annual fee (or a reference to say there is no annual fee).
Well, it appears you get the autopay discount ($5/$10 per line, I think) with this credit card (otherwise requires debit or bank transfer).

https://www.verizon.com/about/news/intr ... -visa-card

“ It’s the only credit card that is eligible for the Auto Pay discount of up to $10/mo per line on select plans.”

And no annual fee and no forex fee according to the same press release:

“ The (not so) fine print...

There are no caps on rewards, no confusing expiration dates, no annual fee and no foreign transaction fees.”

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Re: Verizon Visa

Post by Jack FFR1846 » Mon Jun 22, 2020 2:58 pm

I see no advantage. Fidelity or Double Cash Citi will give you 2% cash on everything. You get a discount per wireless line (my addition: on their already outrageous prices that could easily be halved going somewhere else). Not quite as useless as Uber points, if you have a Verizon wireless plan, but pretty useless.
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rage_phish
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Re: Verizon Visa

Post by rage_phish » Mon Jun 22, 2020 7:34 pm

Seems like an easy way to save per line via the autopay discount

MisterBill
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Re: Verizon Visa

Post by MisterBill » Tue Jun 23, 2020 12:07 am

rage_phish wrote:
Mon Jun 22, 2020 7:34 pm
Seems like an easy way to save per line via the autopay discount
Yes, and that is a major deal. I have 4 lines on my plan so it's $40 a month that I can now charge again instead of taking it right out of my checking account. Not as good as the 5% I get on my US Bank Cash+ card, but better than nothing.

The website does not have a link to apply, they claim they will text it to you within 24 hours. However, the My Verizon app has a live link to apply. I did so and got approved immediately. They pulled from Transunion, for anyone who is curious.

I could see using it for gas. Right now I use my Costco card which offers the same 4% but only pays once a year, unless Chase or Discover have gas as their 5% quarterly category. For groceries I use my AMEX BCP, although lately I have been using Chase CSR and Freedom.

Hopefully we'll get the full 2% on the Verizon bill, even if we use the credits to pay for part of it.

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KlingKlang
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Re: Verizon Visa

Post by KlingKlang » Tue Jun 30, 2020 9:28 pm

TravelGeek wrote:
Mon Jun 22, 2020 2:41 pm
“ It’s the only credit card that is eligible for the Auto Pay discount of up to $10/mo per line on select plans.”
I just got the email from Verizon today and was interested. Upon going through the FAQ and its links it appears to me that discount of up to $10/mo per line on select plans only applies to their expensive unlimited plans. If this is the case it greatly diminishes the appeal of this card.

DesertMan
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Re: Verizon Visa

Post by DesertMan » Wed Jul 01, 2020 8:29 am

I don't think you get an autopay discount if you enrolled in autopay before you got the card.

The main draw is for those with lots of grocery spend but not enough to justify the BCP.

RudyS
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Re: Verizon Visa

Post by RudyS » Wed Jul 01, 2020 10:17 am

When I read the footnote on the autopay discount, it looked like autopay discount is only for bank/debit card payments, not credit card. I would like to believe that the verizon card is an exception, but can't find it written anywhere. edited - other than in the email that TravelGeek quoted. I want to see it in the detailed terms and conditions.

RudyS
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Re: Verizon Visa

Post by RudyS » Wed Jul 01, 2020 10:22 am

DesertMan wrote:
Wed Jul 01, 2020 8:29 am
I don't think you get an autopay discount if you enrolled in autopay before you got the card.

The main draw is for those with lots of grocery spend but not enough to justify the BCP.
I don't know if the terms are so unclear deliberately, or through poor writing. Cell phone t&cs are among the most confusing I ever see.

Chrono Triggered
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Re: Verizon Visa

Post by Chrono Triggered » Wed Jul 01, 2020 10:55 am

prudent wrote:
Mon Jun 22, 2020 1:43 pm
That is strange - 4% on groceries/gas (that's pretty good), 3% on dining (also pretty good), then only 2% on VZ purchases. You'd think they give the best discount on their own stuff.
Similar thing Uber did with its credit card; before they changed the reward program and made it essentially useless.

DesertMan
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Re: Verizon Visa

Post by DesertMan » Wed Jul 01, 2020 1:29 pm

Chrono Triggered wrote:
Wed Jul 01, 2020 10:55 am
prudent wrote:
Mon Jun 22, 2020 1:43 pm
That is strange - 4% on groceries/gas (that's pretty good), 3% on dining (also pretty good), then only 2% on VZ purchases. You'd think they give the best discount on their own stuff.
Similar thing Uber did with its credit card; before they changed the reward program and made it essentially useless.
Uber card was issued by Barclays, IIRC. Barclays is notorious for nerfing their cards. They once issued the Sallie Mae Rewards card which had 5% back on groceries and Amazon up to $500 a month. It was like the perfect card for ordinary people. Then they killed it and said the cardholders should be excited that they would now be getting 2% back on utilities and 1% on everything else. And THEN they got rid of the 2%....

The Verizon Visa sounds like a good replacement for that long gone card if you are a Verizon customer. Unlike the Sallie Mae (and the BCP) there is no cap on the 4%.

DesertMan
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Re: Verizon Visa

Post by DesertMan » Wed Jul 01, 2020 1:47 pm

Jack FFR1846 wrote:
Mon Jun 22, 2020 2:58 pm
I see no advantage. Fidelity or Double Cash Citi will give you 2% cash on everything. You get a discount per wireless line (my addition: on their already outrageous prices that could easily be halved going somewhere else). Not quite as useless as Uber points, if you have a Verizon wireless plan, but pretty useless.
Only the Verizon unlimited plans are outrageous. They still have shared data plans up to 8GB 4G data which shows to 128kb unlimited 3G when you're out of data. On these there are generous discounts for military, first responders, government employees and enterprises with agreements. And if the 8GB is not enough, you can get a bigger legacy plan by running an overage and then asking to be backdated.

Chrono Triggered
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Re: Verizon Visa

Post by Chrono Triggered » Wed Jul 01, 2020 3:45 pm

DesertMan wrote:
Wed Jul 01, 2020 1:29 pm
Chrono Triggered wrote:
Wed Jul 01, 2020 10:55 am
prudent wrote:
Mon Jun 22, 2020 1:43 pm
That is strange - 4% on groceries/gas (that's pretty good), 3% on dining (also pretty good), then only 2% on VZ purchases. You'd think they give the best discount on their own stuff.
Similar thing Uber did with its credit card; before they changed the reward program and made it essentially useless.
Uber card was issued by Barclays, IIRC. Barclays is notorious for nerfing their cards. They once issued the Sallie Mae Rewards card which had 5% back on groceries and Amazon up to $500 a month. It was like the perfect card for ordinary people. Then they killed it and said the cardholders should be excited that they would now be getting 2% back on utilities and 1% on everything else. And THEN they got rid of the 2%....

The Verizon Visa sounds like a good replacement for that long gone card if you are a Verizon customer. Unlike the Sallie Mae (and the BCP) there is no cap on the 4%.
Correct, issued by Barclays. Before the change it was a 4% cash back at restaurants/bars and 3% cash back on travel credit card that I used extensively. These days I rotate the 5% cash back programs at Chase and Discover, then use my Fido 2% for most everything else. My Amex Blue has some pretty good offers from time to time.

I wasn't aware of the Sallie Mae card, that sounded like a real good reward structure.

RobLIC
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Re: Verizon Visa

Post by RobLIC » Wed Jul 01, 2020 5:44 pm

I would run, not walk, in the opposite direction.

I’ve had FIOS for 10 years, and Verizon Wireless longer than that. Their communication services are top notch. I’m happy to pay those bills every month. That’s what they’re good at. Excellent customer service on both.

Have you followed the absurdity of VZW’s unnecessary people rewards program, “Up”? It’s redone every months. There is no logic to it. There is little reward to it. Ditto the overpriced accessories they try to upsell you at stores.

As other have already pointed out, there are good credit cards that will earn you similar rewards. Verizon is in the communications business, not finance, and I wish they’d just stay that way.

petulant
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Re: Verizon Visa

Post by petulant » Wed Jul 01, 2020 5:59 pm

I don't follow the comments about the autopay discount. Maybe it's different for prepaid customers, but I get the autopay discount on prepaid with my Discover credit card.

DesertMan
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Re: Verizon Visa

Post by DesertMan » Wed Jul 01, 2020 7:56 pm

RobLIC wrote:
Wed Jul 01, 2020 5:44 pm
I would run, not walk, in the opposite direction.

I’ve had FIOS for 10 years, and Verizon Wireless longer than that. Their communication services are top notch. I’m happy to pay those bills every month. That’s what they’re good at. Excellent customer service on both.

Have you followed the absurdity of VZW’s unnecessary people rewards program, “Up”? It’s redone every months. There is no logic to it. There is little reward to it. Ditto the overpriced accessories they try to upsell you at stores.

As other have already pointed out, there are good credit cards that will earn you similar rewards. Verizon is in the communications business, not finance, and I wish they’d just stay that way.
At first glance, Verizon Up seems to be mostly kid garbage (Justin Bieber super tickets!!) but it consistently offers two useful monthly rewards:
* bonus data that you can hoard indefinitely (good if on a shared data plan), or
* device dollars.
The Verizon Visa lets you trade device dollars for Verizon dollars, which makes them far more useful. The effect is a $5-10 monthly bill credit just for having the card (or you can take the data)

MisterBill
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Re: Verizon Visa

Post by MisterBill » Thu Jul 02, 2020 12:17 pm

petulant wrote:
Wed Jul 01, 2020 5:59 pm
I don't follow the comments about the autopay discount. Maybe it's different for prepaid customers, but I get the autopay discount on prepaid with my Discover credit card.
With the new unlimited plans, you get a $10 per line discount for Autopay, but it MUST be to a checking account until now. Credit cards were not eligible. Now you can use this new card and get the discount (which is $40 for me since I have 4 lines).

MisterBill
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Re: Verizon Visa

Post by MisterBill » Thu Jul 02, 2020 12:21 pm

RobLIC wrote:
Wed Jul 01, 2020 5:44 pm
Have you followed the absurdity of VZW’s unnecessary people rewards program, “Up”? It’s redone every months. There is no logic to it. There is little reward to it. Ditto the overpriced accessories they try to upsell you at stores.
To each their own. The Up program was changed recently but it hadn't changed for a while before that. Now you get one credit per month. It can be used for either a $3-5 gift card, or $5 in what used to be known as Device Dollars but are now Verizon Dollars if you have this new card. That turns into another $5 discount on your wireless account. I was already getting $10/mo in Device Dollars for being part of their mobile+home program (I think that's what it's called, it's for being a wireless and FiOS customer) which is part of Up. Those are now Verizon Dollars as well, so $10 in questionable future credit now became an addiitonal $10 monthly discount on my bill (I was already getting $5 off each bill for being part of the program).

As for the overpriced accessories, I find that "I'll just order something on Amazon" shuts them down pretty quickly.
Last edited by MisterBill on Thu Jul 02, 2020 12:28 pm, edited 2 times in total.

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Re: Verizon Visa

Post by MisterBill » Thu Jul 02, 2020 12:26 pm

RudyS wrote:
Wed Jul 01, 2020 10:17 am
When I read the footnote on the autopay discount, it looked like autopay discount is only for bank/debit card payments, not credit card. I would like to believe that the verizon card is an exception, but can't find it written anywhere. edited - other than in the email that TravelGeek quoted. I want to see it in the detailed terms and conditions.
Yes, it is an exception.

And on the page announcing the card https://www.verizon.com/about/news/intr ... -visa-card it says "The Verizon Visa Card, exclusively offered to Verizon wireless customers, is the only credit card that is eligible for the Auto Pay discount on Verizon, so new Auto Pay enrollees can get the best pricing available on Verizon Unlimited plans."

RudyS
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Re: Verizon Visa

Post by RudyS » Thu Jul 02, 2020 9:27 pm

Thanks, I'm gonna have to get hold of a person at Verizon. It talks about new autopay enrollees. I am already on autopay. Don't know if I'm getting a discount already so this would be a non-event for me. Like I said earlier, this seems absurdly complicated.

MisterBill
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Re: Verizon Visa

Post by MisterBill » Thu Jul 02, 2020 10:50 pm

RudyS wrote:
Thu Jul 02, 2020 9:27 pm
Thanks, I'm gonna have to get hold of a person at Verizon. It talks about new autopay enrollees. I am already on autopay. Don't know if I'm getting a discount already so this would be a non-event for me. Like I said earlier, this seems absurdly complicated.
The autopay discount would show on your bill. What plan do you have?

There are a couple of situations where this card works really well.

1) You have Autopay on one of the new unlimited plans and can only pay from your checking account in order to get the discount, and
2) You get $10-20 worth of Device Dollars a month as a result of being enrolled in the Mobile+Home program and want to use them as an account discount instead of only using them towards a future phone.

Otherwise, there are better options for paying your Verizon bill than just getting 2% back, although getting 4% back on groceries on a no-fee card is nice.
Last edited by MisterBill on Sun Jul 05, 2020 6:22 pm, edited 1 time in total.

Gronnie
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Re: Verizon Visa

Post by Gronnie » Fri Jul 03, 2020 2:09 am

The way they word it "new autopay enrollees" makes it seem like only people not already on autopay can use it and still get the autopay discount? But that's absurd, that can't possibly be correct can it?

RudyS
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Re: Verizon Visa

Post by RudyS » Fri Jul 03, 2020 10:47 am

It's their way of wording stuff that annoys me. My bill does not specify a dollar amount of discount, but does include autopay in the pricing for my plan. I'm gonna ignore this whole Verizon credit card thing I think.

snailderby
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Re: Verizon Visa

Post by snailderby » Fri Jul 03, 2020 11:16 am

This looks like a great option for Verizon customers.

4% on groceries
4% on gas
3% on dining
No annual fee

Use a 2% cashback card for everything else, and you'd have a killer, no-annual fee, two-card combo.

bac
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Re: Verizon Visa

Post by bac » Fri Jul 03, 2020 12:01 pm

After I signed up, VZW rendered my monthly bill showing the usual autopay discount of $5 using the new Verizon Visa.

It also showed a promotional credit of $4.17 ($100 divided by 24 months), but it's offset by a charge of $4.17. No explanation for that. Predicted bill for next month reflects the $4.17 discount.

Code: Select all

CC#xxxx New Card Holder Offer (Month 1 of 24) -$4.17 
CC#xxxx New Card Holder Offer (Month 1 of 24) $4.17 
$5 Autopay and Paper-Free Disc (Jun 29 - Jul 28) -$5.00
The sharp-looking metal card arrived yesterday via Fedex. It was inside a black sleeve inside a black cardboard sleeve inside a 4½-by-7-by-¾-inch black box. Too much.

MrJedi
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Re: Verizon Visa

Post by MrJedi » Fri Jul 03, 2020 12:11 pm

Looks good if you use Verizon unlimited postpaid plans, but those are quite expensive. I recently switched to a MVNO type of plan and save way, way more money that way. I recommend looking into that if you don't need the data prioritization from a direct postpaid type of plan. We do not use much data outside of wifi, so this change is essentially transparent for us and only costs us $20-35/month total for two lines depending on data usage.

MisterBill
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Re: Verizon Visa

Post by MisterBill » Fri Jul 03, 2020 2:53 pm

Gronnie wrote:
Fri Jul 03, 2020 2:09 am
The way they word it "new autopay enrollees" makes it seem like only people not already on autopay can use it and still get the autopay discount? But that's absurd, that can't possibly be correct can it?
No, it isn't and I agree that it's confusing. If you were getting an autopay discount before, you'll still get it. The difference is that the current unlimited plans did not allow you to autopay by credit card and get the discount. Now you can.

MisterBill
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Re: Verizon Visa

Post by MisterBill » Fri Jul 03, 2020 2:56 pm

bac wrote:
Fri Jul 03, 2020 12:01 pm
After I signed up, VZW rendered my monthly bill showing the usual autopay discount of $5 using the new Verizon Visa.

It also showed a promotional credit of $4.17 ($100 divided by 24 months), but it's offset by a charge of $4.17. No explanation for that. Predicted bill for next month reflects the $4.17 discount.

Code: Select all

CC#xxxx New Card Holder Offer (Month 1 of 24) -$4.17 
CC#xxxx New Card Holder Offer (Month 1 of 24) $4.17 
$5 Autopay and Paper-Free Disc (Jun 29 - Jul 28) -$5.00
I had the +/-$4.17 as well. But when I checked my payment due, it was $4.17 less than the amount of my bill.

Sadly, that $4.17 went away once I redeemed Verizon Dollars. Time to contact CS. The T&C said that the $100 credit would start 2-3 months in. I have no problem having it start sooner but no so soon that I miss out on the first credit because my autopay for the month was processed before I got the card!

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beyou
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Re: Verizon Visa

Post by beyou » Fri Jul 03, 2020 10:46 pm

MisterBill wrote:
Fri Jul 03, 2020 2:56 pm
bac wrote:
Fri Jul 03, 2020 12:01 pm
After I signed up, VZW rendered my monthly bill showing the usual autopay discount of $5 using the new Verizon Visa.

It also showed a promotional credit of $4.17 ($100 divided by 24 months), but it's offset by a charge of $4.17. No explanation for that. Predicted bill for next month reflects the $4.17 discount.

Code: Select all

CC#xxxx New Card Holder Offer (Month 1 of 24) -$4.17 
CC#xxxx New Card Holder Offer (Month 1 of 24) $4.17 
$5 Autopay and Paper-Free Disc (Jun 29 - Jul 28) -$5.00
I had the +/-$4.17 as well. But when I checked my payment due, it was $4.17 less than the amount of my bill.

Sadly, that $4.17 went away once I redeemed Verizon Dollars. Time to contact CS. The T&C said that the $100 credit would start 2-3 months in. I have no problem having it start sooner but no so soon that I miss out on the first credit because my autopay for the month was processed before I got the card!
https://www.verizon.com/support/verizon ... #new-offer

w Card Holder Offer details:

To receive the full $100 credit, you must pay a Verizon Wireless or Verizon Fios bill with either a Verizon Visa Card or by redeeming Verizon Dollars to pay the total bill amount for the first 24 consecutive months of opening a credit card account.
The credit is applied to your Verizon Wireless bill over a period of twenty-four (24) consecutive bill cycles, equaling a credit of $4.17 per bill.
The twenty-four (24) month period begins within 1-2 billing cycles after the credit card account approval.
During that time, the $4.17 will not be credited for any monthly bill that wasn’t paid using the Verizon Visa Card or Verizon Dollars.
The credits are available for up to 24 consecutive months and up to $100, as long as your wireless and credit card accounts remain in good standing.

I do wonder when the additional (I think) early sign up bonus will be announced, I responded quickly, expecting to get some surprise bonus TBA.

MisterBill
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Re: Verizon Visa

Post by MisterBill » Fri Jul 03, 2020 11:44 pm

beyou wrote:
Fri Jul 03, 2020 10:46 pm

The twenty-four (24) month period begins within 1-2 billing cycles after the credit card account approval.
During that time, the $4.17 will not be credited for any monthly bill that wasn’t paid using the Verizon Visa Card or Verizon Dollars.
The credits are available for up to 24 consecutive months and up to $100, as long as your wireless and credit card accounts remain in good standing.

I do wonder when the additional (I think) early sign up bonus will be announced, I responded quickly, expecting to get some surprise bonus TBA.
Exactly -- begins 1-2 billing cycles after. Not on the first bill before you had any chance to set up autopay.

They claimed 2-3 bills to see the early sign up bonus. Did you manage to apply via the link in the text? I never got the text so I applied thru the app, but I did login and request the link and was approved the first day. So I will be rather upset if I do not get that early bonus. I've already discussed it with VZW_Support on Twitter, just so i have a record of showing my concern.

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beyou
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Re: Verizon Visa

Post by beyou » Sat Jul 04, 2020 12:57 am

Maybe they just applied and removed the credit because it was premature and will still give you the 24 months going fwd. That said, my only hesitancy getting this card was my distrust of Verizon. They are famous for making ever changing deals that their systems do not automate correctly, and poor customer service. I will say the Synchrony Bank website looks amateur quality compared to every other credit card site I have used. Seems like a good deal, if Verizon comes through.

I requested and received the early invitation txt which only leads you to sign in to your normal verizon site and make the application. Not sure how important that link may be. Have gotten no acknowledgment that any bonus is pending as a result of the early offer. We shall see.

vasu100
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verizon credit card ?

Post by vasu100 » Sat Jul 04, 2020 9:18 am

[Post moved into here, see below. --admin LadyGeek]

Anybody else considering the Verizon credit card ? Obvious downside is that you can only use rewards to pay for Verizon stuff; but since I can apply it to my monthly Verizon bill, that may be okay.

- 100 bucks sign-on bonus over 24 months (so 4 bucks a month)
- 10 bucks / month off on Verizon lines (with 4 lines, that's 40/month for me). Of course I get the same thing by auto-pay from my checking account, but now I can get it on a credit card (and earn points on the bill itself)
- 4% on gas & groceries (I have the Costco card for 4% on gas, but no other card with 4% on groceries so far)
- Other benefits (like 3% on dining) are covered by my other cards like Chase Sapphire
- No annual fee

On the whole seems like a small net positive, so I am considering it. Anybody else getting this card ?

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Re: Verizon Visa

Post by LadyGeek » Sat Jul 04, 2020 10:04 am

^^^ I merged vasu100's post into the on-going discussion.
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Re: Verizon Visa

Post by brokendirtdart » Sat Jul 04, 2020 2:50 pm

RudyS wrote:
Wed Jul 01, 2020 10:17 am
When I read the footnote on the autopay discount, it looked like autopay discount is only for bank/debit card payments, not credit card. I would like to believe that the verizon card is an exception, but can't find it written anywhere.
It is an exception noted when setting up autopay and is the reason I applied. I recently switched back to VZ from T and did not want to link a debit card to an autopay account. The application process had some issues though. It was not able to verify my identity and I waited five days for a letter with a phone number to call. Approved on the phone in a minute or two.

Also mentioned here: https://www.verizon.com/solutions-and-s ... visa-card/ Scroll down a bit.

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Re: Verizon Visa

Post by RudyS » Sat Jul 04, 2020 6:46 pm

Turns out my pricing already includes such a discount. Didn't remember that. So, that's it. Thanks all.

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