Better Matters

Yesterday I shared that I had cancelled my Hilton Surpass Amex based on the uncertain future. I was on the fence about this for some time as there was plenty of potential value but a better card came along to sway me to cancelling it.

The Verizon Visa from Synchrony Bank. I am a Verizon customer, after jumping to several competitors I found that only the Verizon network worked for me. Synchrony released their new Verizon card at exactly the time I would have considered it so I now have it and it has quickly found a place in my wallet. Standard offer is $100 in bill credits over 24 months when Verizon bill is paid with this credit card or $4.17 per month. Not a great signup bonus but this is Synchrony and there is no minimum spend requirement. I signed up with an additional launch bonus, at this time that amount remains a mystery.

Breakdown of rewards:
4% of grocery and gas
3% on dining
2% on Verizon
1% everywhere else

This card really had two selling points to me. First 4% on groceries. I don't have a card that has a grocery category so getting this on a no fee card is a big win in my total rebates. The 3% on dining is nice but I have that with the Citi Costco, The Verizon card does allow for redemption each billing cycle rather than just an annual rebate each spring with Costco. The second attraction is the 2% on Verizon. This was one of two bills that I could not pay on a credit card without a penalty. Verizon offers a discount per line with direct ACH debit that far outweighs any credit card rewards. The branded Visa allows that discount to continue as well as earning a 2% rebate on the monthly bill with immediate turnaround on redemption so having the card effectively reduces cellular expenses by 2% ignoring the signup bonus credit. My Verizon bill is about 2% of my monthly spend so 2% of 2% does eventually add up.

The other bill I could not pay via credit card without penalty was my electric bill. I recently discovered that there was a way to do so via Arcadia Power (Referral Link). In deregulated states I believe they act as a electric broker, it regulated states they offer green wind electric for a slight upcharge or 50% wind for free for using their services. They make their money on these customers through the float on your electric bill but I'll take the credit card rewards over the 30 days interest. For this I have my Citi Double Cash registered so am getting 2% back on electric and cell service.