Verizon Announces New Prepaid Plans And Credit Card (VZ)

By Amit Chowdhry ● June 24, 2020

Verizon Communications Inc. (NYSE: VZ) has announced that Verizon Prepaid customers are eligible for new savings that lower monthly rates the longer they stay with Verizon. And Verizon also announced a new credit card.

Prepaid Plans

New and existing customers who sign up for these no-annual-contract plans can save as much as $15 per month with Auto Pay.

The new Verizon Prepaid plans now feature discounts that lower monthly costs $5 after three months and $10 after nine months. Customers who sign up for Auto Pay will receive an additional $5 off and it brings the total discount to $15 per month.

“Consumers have made it clear that value matters, but they’re not willing to compromise on quality. We’re empowering customers with no annual contract plans at great prices that meet the challenge head-on,” said Frank Boulben, Verizon SVP Marketing and Products for Verizon Consumer Group. “With Verizon Prepaid, the longer you stay, the more you save.”

The Verizon Prepaid Unlimited plan enables customers to do more with unlimited 4G LTE data for as low as $50 per month after nine months. And the plan now includes talk, text, and data to and from Mexico and Canada. Plus unlimited customers can add-on Mobile Hotspot for $5 per month to extend connectivity to other devices.

With the new loyalty savings, customers can choose our 5GB plan (with Mobile Hotspot included) for as low as $25 a month. And the 15 GB plan — with Mobile Hotspot and calling to Mexico and Canada — is as low as $35 a month. Plus these new plans offer a clear advantage for choosing Verizon Prepaid as all of the plans include:

– Unlimited Talk & Text within the US
– Unlimited Text to more than 200 international destinations
– $5 per month discount after the first month when you sign up for Auto Pay
– Lower rates the longer you stay: $5 off after 3 months, $10 off after 9 months

Verizon Credit Card

Verizon also unveiled its plans for a credit card this week. The new card is launching with Synchrony Financial and Visa.

Consumers who signed up for Verizon’s auto-pay feature will receive a discount on their bills of as much as $10 a month per line on certain plans. And the card offers 4% back for gas and groceries and 3% for dining and takeout.

“This card represents what consumers are demanding right now – a contactless, frictionless, and digital-first experience,” said Tom Quindlen, executive vice president, CEO, Retail Card at Synchrony. “We worked in partnership with Verizon to create a unique, robust rewards program for their customers that uses simple and easy tools to apply, buy, and service the card account.”

Plus users also earn Verizon Dollars — which are valued at $1 for Verizon purchases.

“Visa is proud to partner with Verizon on the introduction of the new Verizon Visa Card,” said Kirk Stuart, senior vice president, head of North America Merchant, Visa. “As consumers increasingly seek more ways to stay connected digitally, the Verizon Visa Card provides real savings on Verizon’s products and services, along with benefits for every day and essential purchases. We look forward to collaborating with Verizon on this exciting new program to deliver value for cardholders and enhance their daily payment experiences.”