Ever been tempted by those Verve credit card offers flooding your mailbox lately? They sure make those cards sound appealing, don’t they? Before you fill out an application, you’ll want the inside scoop on what Verve credit cards are really all about.
We dug into reviews from real Verve cardholders to give you the truth behind the marketing hype. Here’s the good, the bad, and the downright ugly of what people are saying about their Verve credit cards.
Spoiler alert – not everything is as rosy as their TV commercials make it seem. But don’t worry, we’ve got you covered with tips to make the most of your Verve card if you do decide to sign up.
Let’s dive in and uncover the real Verve credit card reviews from the people who know best!
Verve Credit Card Benefits and Rewards
The Verve credit card isn’t for everyone, but if you’re a frequent traveler, the rewards and perks can be well worth the $95 annual fee.
Earn Valuable Rewards Points
For every $1 you spend, you earn 2 Verve rewards points. Those points can be redeemed for statement credits, gift cards, merchandise, and of course, travel. Verve points are valued at about $0.01 each, so 10,000 points = $100.
- You’ll earn 5 points per $1 spent on travel and dining, so you can rack up rewards quickly if you spend a lot in those bonus categories.
- As long as your account is open and in good standing, points never expire.
Generous Travel Credits and Perks
- Each year you’ll get $300 in statement credits toward travel purchases like hotels, airfare, and car rentals.
- You also get complimentary access to over 1,200 airport lounges worldwide with Priority PassTM Select membership. Relax before your flight with snacks, drinks, showers, and more.
- There are no foreign transaction fees, so you can use your card overseas without worries.
- You’ll get trip delay and baggage delay insurance, as well as lost luggage reimbursement.
The Verve card provides valuable benefits if you frequently travel or dine out, especially internationally. While the annual fee seems high, if you utilize all the perks the card offers, you can easily come out ahead.
For casual or infrequent travelers, there are cards with lower or no annual fees to consider. But for jet-setters, the Verve card merits a spot in your wallet.
Downsides of the Verve Credit Card
The Verve credit card isn’t all rainbows and butterflies. Here are some major downsides to keep in mind:
Fees galore
Verve cards are notorious for high fees, especially if you carry a balance from month to month. The card has an annual fee of $95, and the APR can be over 25% – ouch! Late fees are $39 and over-the-limit fees are $39 as well. If you’re the type who sometimes misses a payment or goes over your limit, this card will cost you dearly.
Limited rewards
While the Verve card offers decent rewards on travel and dining, the rewards rates for other categories are paltry. You’ll earn just 1% back on general purchases.
Compare that to other no-annual-fee cards offering 2% back or more on all spending. The rewards you do earn also expire if you don’t use them within 2 years.
Spotty customer service
Verve’s customer service leaves something to be desired. Hold times to speak to a representative are often long, and many customers report unhelpful service. If you need to dispute a charge or have any issues with your account, it may be difficult to get resolution.
Overall, the high fees and lackluster rewards make the Verve credit card a dubious choice for most consumers.
Unless you spend heavily on travel and dining and can benefit from the card’s bonus categories, you’re probably better off with a different rewards card or a basic no-frills card with lower fees. Why pay for a card that doesn’t meet your needs? There are better offers out there.
Verve Credit Card Alternatives: Better Options to Consider
There are many more choices to take into account if the Verve credit card isn’t the best fit for you. Here are some of the best substitutes:
Chase Freedom Unlimited
The Chase Freedom Unlimited card is a popular no-annual-fee card that offers 1.5% cash back on all purchases. Chase frequently runs signup bonuses of $150-200 cash back after spending $500 in 3 months.
With no rotating categories to keep track of, the Freedom Unlimited is a simple, straightforward cash back card perfect for everyday spending.
Citi Double Cash Card
For flat-rate cash back, the Citi Double Cash card is hard to beat. You’ll earn unlimited 1% cash back on all purchases, plus an additional 1% as you pay your bill — for a total of 2% cash back on everything.
Like the Freedom Unlimited, the Double Cash has no annual fee. If you’re looking for a card to maximize rewards on all your purchases, the Citi Double Cash should be at the top of your list.
Blue Cash Everyday from American Express
For bonus rewards on common household expenses, check out the Blue Cash Everyday from American Express. You’ll earn 3% cash back at U.S. supermarkets (up to $6,000 per year in purchases), 2% at U.S. gas stations and select U.S. department stores, and 1% on other purchases.
The card has no annual fee and often offers a $150 signup bonus. The Blue Cash Everyday is a great all-around cash back card if you spend heavily on groceries and gas.
In the end, the best Verve credit card alternative for you depends on your spending habits and needs. Compare the rewards rates, benefits, and fees of these top contenders to find a card that suits you best.
With the variety of excellent no-fee cash back cards available, there’s no need to settle for a card that doesn’t meet your needs.
Conclusion
So there you have it, the straight scoop on the Verve credit card based on reviews from real customers. Some perks like bonus points and travel rewards sound appealing, but those high APRs and fees can really cost you if you’re not careful.
At the end of the day, whether this card is right for you comes down to how well you can avoid interest charges and use those rewards. If you’re disciplined about paying on time and maximizing bonuses, the Verve card could be a winner.
But for most average folks, the fees and rates may outweigh the benefits. Now you’ve got the inside track to make an informed choice – good luck and happy swiping!