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When Verizon acquired Yahoo’s internet assets last year, skeptics wondered what a telephone company wanted with an ad-supported content business. The answer is becoming clear.

The wireless carrier’s new rewards program called “Verizon Up” merges the company’s significant access to customer info with advertisers’ desire to personalize ads, the Wall Street Journal reported this week.

Verizon Wireless offers a reward for every $300 that customers spend on their bill. There’s a significant catch: To become eligible for rewards, Verizon Wireless customers also have to opt in to “Verizon Selects,” according to a legal disclaimer on Verizon’s marketing page.

It’s a rather significant caveat to be relegated to fine print. Here’s what Verizon Selects asks for, from Verizon’s FAQ on the matter:

Verizon website

Verizon is hoping that advertisers will pay a premium to access the data in order to personalize ads. Any why not? Armed with that kind of info, it won’t take a very sophisticated analysis to piece together a near-perfect biographical assessment of users. Verizon will arguably know more about you than your spouse does.

The company didn’t respond to a request for comment about the plan.

So how does Verizon plan to pay you back for your transparency? Here are the details on the new rewards from Verizon Up, again straight from the carrier’s FAQ.

Verizon Website

Verizon says it can keep the information it learns about you for up to three years. Don’t expect the rewards to last quite so long. Per the company’s disclosure: “Verizon Up credits expire after 60 days, and every reward has an expiration date.

One thing to keep in mind: Before being acquired by Verizon, Yahoo had a rather mixed history when it came to protecting users’ data.