Synchrony Verizon Credit Card Review (2020.9 Update: $1M Early Customer Promo Posted: $411.35 Each!)

Verizon Visa Card Review

2020.9 Update: The $1 Million early customer promo has now posted: each participated person gets $411.35! HT: reddit. That’s much higher than I imagined. This means only 2431 people applied for this card during promo period… Anybody here got it?

2020.6 Update: Verizon is going to launch this card on Jun 26. Everyone approved during the early access period (Jun 22 – Jun 25) will split $1 Million Verizon Dollars equally – up to $1000 Verizon Dollars. This promotion will end by 9pm ET on 6/25.

Application Link

Benefits

  1. Limited Time Offer: Everyone approved during the early access period (Jun 22 – Jun 25) will split $1 Million Verizon Dollars equally – up to $1000 Verizon Dollars. This promotion will end by 9pm ET on 6/25. I guess it’s highly likely that there will be more than 10,000 people to share this money, so the welcome offer is likely to be less than $100 and please don’t have unrealistic expectations. [Expired]
  2. $100 offer: earn $100 credit applied to your Verizon wireless bill over the first 24 months. 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 months of opening a credit card account. During that time, the monthly credit, equaling $4.17, will not be credited for any monthly bill that wasn』t paid using the Verizon Visa Card or Verizon Dollars.
  3. Earn 4% Verizon Dollars on grocery store and gas purchases, earn 3% on dining purchases including takeout, earn 2% on Verizon purchases, and 1% on all other purchases.
  4. The “Verizon Dollars” earned on this card can only be used on Verizon, so it’s not exactly cashback. But since “Verizon Dollars” can be used on Verizon wireless bills, then it is basically equivalent to cashback for Verizon customers.
  5. This card is the only credit card that is eligible for the $10/month Auto Pay discount on Verizon. Apart from this card, you can only use checking accounts or debit cards or Verizon GC to be eligible for the Auto Pay discount. So this benefits just means you can earn 2% more Verizon Dollars compared to using checking accounts.
  6. No foreign transaction fee.
  7. No annual fee.

Disadvantages

  1. You must be a Verizon customer with no more than 10 lines in order to apply for this card.

Recommended Application Time

  1. We recommend you apply for this card after you have a credit history of at least two years and you are very comfortable with the credit card game.

Summary

The earning rate for common categories: groceries, dining, and gas are all pretty good as a no annual fee card. It’s an appealing card to existing Verizon customers.

Historical Offers Chart

Application Link


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