Is the Verizon Credit Card Worth It? The Verizon Dollars Catch

By Bryce Casson, Founder · Cardocrat · Updated August 2026
The short answer: The Verizon Visa Card earns up to 4 percent back, but only as Verizon Dollars redeemable toward your Verizon bill or Verizon tech, with no cash value. Verizon even removed travel and gift-card redemptions in 2024, narrowing the rewards further, and you forfeit them if you leave Verizon. For anyone not deeply locked into Verizon, a flexible card earns the same and works everywhere.

Good rates, trapped in Verizon Dollars

The Verizon Visa has no annual fee and earns 4 percent on grocery, gas, and dining and 4 percent on Verizon purchases, with 1 percent on the Verizon bill itself and everything else. The rates are fine, but every reward is a Verizon Dollar, redeemable only toward your Verizon wireless or Fios bill or Verizon devices and accessories, with explicitly no cash value. Your cash back is locked inside one carrier. See are store cards worth it.

They made it worse in 2024

Verizon Dollars were never flexible, but they used to be redeemable toward travel and gift cards. As of August 2024, Verizon removed those options, so the rewards now go only to your Verizon bill or Verizon tech, a textbook quiet devaluation of the card own currency. And if you close your Verizon account, any unused Verizon Dollars are forfeited immediately, so the rewards are hostage to staying a customer. See how programs devalue.

A flexible card earns the same

A no-fee flat 2 percent cash card, or a transferable-points card, earns comparable value and pays in money you can use anywhere, including on your phone bill. You are not tied to one carrier, your rewards do not vanish if you switch, and there is no risk of the issuer deleting redemption options. Unless you are certain you will stay with Verizon for years and only want to offset your bill, skip it. See cash back vs travel rewards.

Frequently asked questions

Is the Verizon credit card worth it?
Only for committed Verizon customers who want to offset their bill. It earns up to 4 percent, but only as Verizon Dollars with no cash value, redeemable on Verizon, and forfeited if you leave. A flexible card earns the same and works anywhere.
What are Verizon Dollars worth?
One cent each toward your Verizon bill or Verizon devices and accessories, with no cash value. Since 2024 they can no longer be redeemed for travel or gift cards, so the rewards are locked entirely inside Verizon.
Can I redeem Verizon Dollars for cash?
No. Verizon Dollars have no cash value and cannot be redeemed for cash. They go only toward your Verizon bill or Verizon tech, and they are forfeited if you close your Verizon account or after long inactivity.
What is a better alternative to the Verizon card?
A no-fee flat 2 percent cash card, or a transferable-points card, beats it. Either one earns comparable value, pays in rewards you can use anywhere including your phone bill, and does not vanish if you switch carriers.

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Bryce Casson

Written by Bryce Casson, Founder of Cardocrat. About the author and how we rank cards.