New Synchrony Verizon VISA looks pretty good if you use Verizon Wireless
 

Verizon just launched their new Visa card, and if you have their wireless service, it looks like a pretty good deal. You get $10/line off your monthly wireless bill, for starters. Doesn't apply to all plans, so likely only people with the newer unlimited plans, but for a family with four lines, that would be $480/year. Also, if you have FiOS, $10/month off on that bill. 4% back on gas and grocery, 3% on restaurants, 2% at Verizon, and 1% on everything else. Paid in Verizon dollars, which you can use to pay your Verizon bill. No annual fee.

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

From website: "It’s the only credit card that gets you our best value on Unlimited—simply use it to enroll in our Auto Pay. You’ll get up to $10 per month off each eligible account or line, up to 10 lines max. And that’s just one way the card can lower your wireless bill. It’s a beautiful thing. Inside and out.Enrollment in Verizon's Auto Pay and paper-free billing is required for Verizon bill discount of up to $10/mo off each eligible account or line, up to 10 lines max on select plans. Visit Auto Pay FAQs for more info. Please note: Offer is for first-time enrollees. Verizon customers currently enrolled in Auto Pay and paper-free billing via other methods (e.g., ACH or debit card) will not receive additional Auto Pay discounts for re-enrolling using the card. See the Verizon Visa Credit Card Rewards Program Terms & Conditions for details on ways to lower your bill."

Looks like the $10/mo only applies to new auto pay customers. I'm already enrolled and get 10% off with auto bank acct w/d.

Verizon must be getting some good money from Synchrony.

The reward structure may look great. But the eligibility is you must be a Verizon customer, which practically kills the deal.

AFAICT - Verizon usually is the most expensive service provider. So it is more practical for cheaper service than rewards.

Better coverage = Higher price. That's why Sprint is so cheap... Their network is garbage. You get what you pay for.

Not necessarily true. I was once assigned a company phone that use Verizon. Verizon's reception is actually worse than T-Mobile, which occasionally I completely lost Verizon's reception while T-Mobile remains signal strong.

And I was in a major metropolitan area.

That I have to admit this is indeed the case. Sprint's network is garbage (and that's why I switched to T-Mobile at the first place).

It's a shame Fios customers who aren't also wireless customers can't apply. The same auto pay restrictions (ACH/debit only) are imposed for Fios as well.

Instead of comparing T-Mobile vs Verizon vs Sprint let's please discuss the pros and cons of the card.
Thanks.

Sprint was fine for me for 5 years. Now T-mobile has taken over and there are already issues (a cmda tower nearest my house is now "roam").

​​​​​​I'm not arguing with Verizon being the best mobile network, but I don't regret the occasional dropped call for the price savings. I also will switch if I need to based on this recent network issue.

Verizon already gives an auto pay discount, is this actually in addition to it, or are they being misleading?
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The ad says that this is the only credit card eligible for the auto-pay discount.

https://www.verizonwireless.com/supp...-faqs/#autopay

Well, I don’t care about eligibility since the rewards are Verizon Dollars, which are not really of any use to me as a non-Verizon customer.

”Use your Verizon Visa CardⓇ everywhere it's accepted to earn Verizon Dollars – rewards you can redeem for the best things at Verizon. ”

Not necessary. At the minimum, you can buy those cheapo accessories, as well as compatible devices, like Pixel, from Verizon.

While I have no solid data to support, I believe there are people getting the Citi Costco card without going to a Costco.

Sure, I pretty much guarantee you there are people who do that. It doesn't mean it makes a lot of sense for me or many to get a Verizon card and collect Verizon currency without being a regular Verizon customer. I can likely buy accessories cheaper elsewhere.

Ah yes, that's right. Still, for customers already getting that discount by autopay from their checking account, it isn't $480/yr in perks as OP was describing, but rather just the 2% back on Verizon purchases that is the true differentiator on the wireless bill.

Doubtful for a few reasons:
1) If you're looking for specific category cashback (gas or restaurants), there are cards that do better on both with no AF (PenFed Cash Rewards for gas is 5% no AF, US Bank Altitude Go is 4% restaurants [versus 4% gas and 3% restaurants on the Costco card respectively).
2) Costco membership is $60 minimum which kills the value of the card unless you're already shopping at Costco. Costco.com allows non-members to shop at Costco.com with a 5% surcharge, so unless you're ordering more than $1,200 a year to break even against the $60 annual fee it's just cheaper to shop on Costco.com without a membership.
3) The Costco reward certificate is generally offered as a phone/printed/mailed certificate once a year at the start of the year to be redeemed in warehouse (this year with COVID-19 they made an exception and offered to mail people checks instead.) So if you can't get to a Costco warehouse reasonably (times of pandemic like right now are an exception which likely won't last) you can't redeem the certificate for any of your cashback.

PenFed is a CU. Not everyone is qualified to get a card. I can't comment on US Bank because I don't know the exact conversion rate for cashback.

Your premise fails because you focus entirely on Costco purchases only. If you spend wisely, for example, if your family has multiple cars and you use Costco Visa for fuel only, it has a 4% cashback that can easily to make even with the $60 membership fee (Note - the card does not have an annual fee. It is Costco charging the membership fee.)

I was told there is a way to cash out the cashback without going Costco.