Verizon Edge Upgradeable vs 2 year contract Smartphone Plan Review
Last Update: 9/21/2018
Verizon cancelled the Verizon Edge Upgradeable Smartphone plan in 2017
Verizon replaced the Edge plan with Verizon Monthly Device Payments. Unfortunately his plan does not have the upgradeable part of Edge. If you want this feature, please check out the AT&T Next Plan.
Read our analysis of AT&T Next vs Verizon Monthly Device Payments vs Apple iPhone Upgrade Program vs Apple iPhone Payments
Verizon Edge Plan
Verizon Customers on active device payment agreements before 5/31/15 can upgrade their device, which is an option to turn in your existing device and purchase a new device on a device installment agreement without an upgrade fee. You must meet the other eligibility requirements for device payment program to use this option.
Verizon announced that customers are eligible to get a new iPhone every year through the annual upgrade program. The new program allows you to turn in your phone and upgrade to a new iPhone every year. If you pre-ordered an iPhone 7 or iPhone 7 Plus, you’re automatically enrolled in this program if you’ve elected the Device Payment option.
Verizon has announced the end of 2 year plans effective August 13, 2015. Only those currently on a 2 year plan, can get a new phone with 2 year commitment, when their current commit is fulfilled. New customers cannot buy phones with 2 year plans. Tablets with 2 year contracts are still available as of Summer 2016.
Verizon Wireless $50 off select smartphones Coupon Code: VZWDEAL New device payment activation required, excludes upgrades.
Verizon created a new wireless plan called Verizon Edge to address the needs of customers who want to upgrade to the latest and greatest Smartphone every year. They started in July 2013, a week after AT&T unveiled its similar Next Plan. Later, the focus on Edge was shifted more towards paying a monthly installment fee for your smartphone instead of a standard 2 year plan.
- Typical Phone cost $650 = Monthly installment payment $650/24 months = $27/per month - 0% APR
Is Verizon Edge Worth it or is Verizon Edge a ripoff?
Normal Smartphone plans in America require shoppers to commit to a 2 year contract. People cannot change phones during this time unless they want to pay an expensive early termination fee (ETF), for cancelling their contract.
In a separate blog post, we analyze AT&T Next Plan and T-Mobile Jump! On Demand, which are similar to Verizon Edge, but a lot cheaper. Also AT&T Next vs Verizon Edge vs Apple iPhone Upgrade Program is a related review.
Be sure to download the BuyVia App, which helps you save money on items you want from stores you like, both online and locally.
Verizon does allow you to unlock Smartphones with SIM slot right away by calling customer service. Some phones come shipped factory unlocked. AT&T waits until you fulfill your contract. This is much better for international travelers.
Verizon changes its plans from time to time, so we will reexamine them when necessary. Additional short term promotions may popup.
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2 year Contract is Costly
Two year contracts have been the norm in the US for years. If you wanted the latest phone, you would typically pay $199 and sign a 2 year contract. The phone's cost was heavily subsidized. A typical phone costs $649, so $450 was baked into your monthly bill. The problem is that after you finish paying off the phone in 2 years, your monthly bill would not fall. This makes it a BAD deal if you do not upgrade to a new phone after finishing your 2 years.
With the new installment plans like Verizon Edge, you pay for the phone every month and once paid off, your monthly payments decrease.
Upgrading early with a 2 year Contract
With a traditional 2 year contract, a user wanting to upgrade to a new handset would have to pay the following:
- You need to pay off the current phone’s remaining balance
- Pay $649.99 or full price instead of $199 for the new phone as you are not eligible for upgrade discount
- Sign another 2 year commitment
If you just cancel your 2 year plan without fulfilling it:
- If you cancel a contract, you will lose your phone number
- $350 Smartphone early termination fee ($10 less with each passing month) if you decide to just terminate the contract
This is a steep price, hence the Verizon Edge Plan was born.
Smartphone Product Cycle
The cellular industry is built around yearly releases of major products. Samsung and Apple introduce new flagship devices every year. Each year, customers have to make a decision whether they want to break their contract to upgrade to the newest Smartphone.
The Edge plan allows users to upgrade every year without incurring penalties. There is always a catch, so we will examine the plan in detail. Most articles have labeled the Edge Plan as expensive and a way for Verizon to generate more revenue. Our analysis will give you hard numbers on the exact costs.
Verizon Edge Plan
Here are the main features of this Verizon Smartphone Plan:
- Get a new Smartphone after 30 days and 100% of phone paid off – must pay remaining balance to the 1 year mark. This changed in May 31, 2015. (It used to be 30 days and 75%)
- Discounts for Verizon More Everything Plans
- After 1 year, there will not be an upgrade fee
- 0% interest
- Plan lasts for 24 months
- Monthly charge for phone is full retail divided by 24 months
- Available to new customers or existing customers if they are qualified for an upgrade
- This is an installment agreement along with wireless service
- No down payment, No upgrade fee, No financing fee - If you credit is not good, you may have to pay something up front.
- NO upgrade fee, No activation fee, but sales tax is due at signup
- Need to trade in the phone in good condition or else you’ll be charged an extra fee
- When you trade in the Smartphone, you will receive nothing in return
- You will own the Smartphone after the full 24 months, before that, you are just leasing it
- If you cancel or lose the phone, you have to pay the remaining balance
- 14 day return period with a $35 restocking fee
- After you trade in your Smartphone, you can start a new Edge Plan
- Save on your monthly bill's line access cost on The More Everything Plan
Edge Up upgrade for Customers prior to 5/31/15
Customers on an active Edge Agreement before 5/31/15 can Edge Up, which is an option to turn in your existing Edge device and purchase a new device on a new Edge Installment Agreement without an upgrade fee. You must meet the other Edge Up eligibility requirements in the Edge Agreement to use this option.
- Customers who entered into an Edge Agreement prior to 6/1/14 must have paid 50% of the full retail price
- Customers who entered into an Edge Agreement between 6/1/14 and 10/15/14 must have paid 60% of the full retail price
- You must send your old Edge device in or return it to a Verizon store within 14 days of getting your new device
- Some can say the Verizon Edge ripoff is due to changing these terms
Verizon Edge Plan for iPhone 7
We will list out the charges due when you setup an Edge Plan for two of the most popular Smartphones on Verizon Wireless. Note the price of the S6 changes often and currently costs less per month.
iPhone 7 32GB with Verizon Edge Plan. This allows us to upgrade after one year. Keep in mind that promotions will cause these prices to change from time to time.
Amount due at sale:
$0 One Time Activation fee
$0 Initial fee
Sales tax on full value of phone $57 in our area.
Total due at time of sale: $57 + $0 = $57
Monthly Plan:
$27.08/month installment charge for iPhone 7 32GB
Medium Plan 4GB with unlimited talk and text
Smartphone $27.08 + $20 Line Fee+ Medium Plan $50 = $97.08/month
Total due each month: $97.08 + Taxes
They increased data plan sizes in mid 2016.
Amount Paid to fulfill contract: (24 months)
$97.08 X 24 months = $2329 + $57 Initial Sales Tax = $2386.
iPhone 7 or Galaxy S7 resale value is now roughly $250 at the end of the 2 years.
Surprise – this is less than old 2 year plan!
Stop complaining. Prices have fallen. This price was $2696.76 in the middle of 2014!
AT&T Next Plan Charges about $100 less.
Caveat – you do not own the phone till 2 years have past.
After 2 years, you are ready to get another phone!
After 2 years your bill would fall to $70/month + taxes because you paid off the phone. This in contrast to a 2 year plan where the bill would remain the same.
Verizon Standard 2 Year Contract for iPhone 7 or Samsung Galaxy S7
On August 13, 2015, the 2 year plan was discontinued by Verizon. It is now available only to those currently on a 2 year plan who upgrade to a new phone. We will list out the charges due when you setup a Standard 2 year commitment for 2 of the most popular Smartphones on Verizon Wireless.
iPhone 7 32GB or Galaxy S7 32GB with Monthly Data Plan. This allows us to upgrade after two years.
Amount due at sale:
$35 Activation fee
$199.99 for the Smartphone (It does go on sale from time to time)
Sales tax on full value of phone $57 in our area.
Total due at time of sale: $199.99 + $57 Sales Tax + $35 activation fee = $342
Monthly Plan:
Medium Plan with 4GB with unlimited talk and text
Smartphone Line Access $40 + $50 4GB Shared Data = $90/month
Total due each month: $90
Amount Paid to fulfill contract: (24 months)
$90 X 24 months = $2160 + $199.99 + $57 Sales Tax + $35 activation fee = $2464 or less than in Mid 2014 ($2541.99).
iPhone 7 or Galaxy S7 value is now roughly $250 at the end of the 2 years.
No Surprise – this is $78 More than Edge Plan when looking at full contract fulfillment
AT&T 2 year plan is over $200 less.
You are ready to get another phone finally!
After 2 years your bill would continue to be the same even though you paid off the phone, unlike Edge.
When is the Verizon Edge worth it?
There are specific situations where the Verizon Edge Plan is worth it. One of these situations might depend on your timing on fulfilling the contract.
- If you want to have the latest Smartphone every year
- If you plan to keep the same phone for more than 2 years
The AT&T Next Plan is far cheaper and has more situations where it is more cost effective.
Verizon Edge Plan Conclusion
Verizon Edge Plan adds more ways for Smartphone owners to upgrade to the latest technology without waiting 2 years for their contract to be fulfilled. If you are a frequent upgrader, this plan is a no brainer.
Do you have a different opinion or a suggestion?
Please leave a comment below.
Tags: iPhone Upgrade, Plan, Smartphone, Verizon, Verizon Edge
I thought Verizon is offering that 2GB plan for $50/mo?
This article reviewed the Verizon Edge plan that allows you to upgrade your smartphone at any time. It costs more.
Verizon has normal plans that are cheaper. Standard plans for an iPhone 5S or Samsung S4 start at $80. Prepaid plans are cheaper.
I would love to be on the edge plan because I want the galaxy note 2- I’m on a 2 year contract
It is a costly plan, just understand what is involved. I would suggest getting a Note 3, it doesn’t cost much more.
the eleventh bullet under “Verizon Edge Plan” says “You will own the Smartphone after 24 months” But under “Verizon Edge Plan for iPhone 5s” second line from the bottom says “Caveat – you do not own the phone” So Which is it ???????
Sorry about that, I fixed the text. You do not own the phone until 24 months have past.
Having to trade the phone in at the end of the 24 month term, in order to get a new one doesn’t translate to “owning” anything in my book. You are just rolling into a new lease, right? Also, many companies are offered a discount on Verizon “traditional” plans (mine is 22% as of this writing). They offer nothing on EDGE plans. This is significant.
After 24 months of payments, you own your phone on Edge plan. You only have to turn it in to Edge early. Also, I retained my corporate discount when I switched to Edge. No changes to my plan!
Hi Kate at the end of 2 years you own the phone.+ your Bill go down.what ever you paid for the phone. That is what Verizon told me. Rip
Is that true about the discount not applying to Edge? I’ve been back and forth in forums trying to figure out if it was worth it and this may have sealed my decision…
You get a Line Access Discount on your More Everything plan when you use Verizon Edge.
Can I switch if I just started a 2 year contract 6 months ago?
Yes, this is their criteria:
Existing customers of 7+ months must have the last 6 months of good payment history.
New and existing customers of 6 months or less must pass a credit check.
This is a bit misleading. When you upgrade your phone, you do not have to pay the early termination fee. You are upgrading, not cancelling service. You should state above that you can cancel the current contract, pay the early term fee and then buy a new contract with a new phone OR upgrade at any time and only pay the full phone price. You do not have to do both.
Good point. I’ve clarified the ETF vs Edge issue.
The edge program is a rip off. Please do not get it. Since I switch to the edge program I have been going over my data for no reason at all. I use to have 1g now I’m up to 4g. I could get a text saying that I am at 75% over my limit and the next hour it would say I am over my limit. I have called an complained and Verizon noticed it to. They still have done nothing to fix this. Stick with the old plan, because you are going to be paying more then normal.
None of these reviews take into account the discounts you get for being on the edge program.
From Verizon’s website:
When you purchase a smartphone using Verizon Edge, you’ll save up to $25 off the monthly line access, $10 if your plan is 8GB data or less.
I just got the Galaxy S5 and since I am on a family plan with a 20GB/month shared data I pay only $5/month (S5 is $30/month and I get a $25/month discount). Had I gone with the S4 which is only $20/month with Edge I would have reduced my bill by $5/month.
Article has been updated with current pricing including this discount.
The same things always happen to us too. In fact my sister in law and brother in law went with their 3 kids and they automatically gave them 5 New phones and even threw in a free speaker for $160. All 3,kid’s phones were still in contract. In fact My niece had her phone for only 6 months into a 2 yr contract, and they still let her edge up. SIL told us to go do what they did and get the $160 plan and of course it was a no go bc the manager said that we still had 2 phones under contract. We argued with them and told them that SIL had 3 phones in contract and they were able to do it and they still wouldn’t budge.. In addition every time we go in to check on our account or call we get different answers. An employee showed me that my daughter and I were clearly eligible for edge up, and I saw the red edge emblem on his computer, next to our phone #’s A week later when we went to upgrade, they insisted that our phones weren’t eligible, and the edge emblem was magically gone.
It is amazing to me how so many people can have so many different answers for how to apply the Edge plan. It just proves that with Verizon you always get a different answer depending on who you talk to. I am long term Verizon customer slowly working my way out of contract on 4 phones. I have tried to get the $160 offer on my 4 lines (2 of them are regular phones which I wanted to convert to smart phones).
In June I spent 45 minutes on the phone with a Verizon rep (Miku) who explained that in order to qualify my primary line I would have to go “out of contract” in July, I would have buy the two smart phones on my own, bring them on line with Verizon so I would have 4 Smart phones and “Ta-da” I would get the $160 deal.
THEN in December when one of the lines would go out of contract I would cancel it, I would be given their unadvertised “loyalty” discount for being a long standing customer of $50.00 per line and reduce my service to $150.00. I asked for this in writing (ha!), was told all this had been notated on my account, repeated back to her what she had said (as I understood it) and she said, “yes, that’s right!”.
So – guess what? I called yesterday to set up the phones and get my great $160 deal and – yes, you guessed it- I MISUNDERSTOOD! Stupid me! According to “Dena” the bottom line is that EVERY line has to be out of contract to qualify for the MORE option or EVERY line has to be due for renewal of contract to qualify for the EDGE option. Now I see that some of you were given the option of trading in your existing device – NOT ME! When I asked – ‘well how about we do the loyalty program?” Stupid me! Now they state that each line has to be within 12 months of renewal and only 3 of my lines qualify for that, and my fourth line, for some reason only Verizon knows would go up to $80+ dollars.
I asked for a supervisor and advised Dena that I had begun to record the call. She told me that I would be on hold for at least 15 minutes and that a supervisor would just repeat the same things she had told me. I had to repeatedly tell her that was my prerogative, go get one! Finally, Stanley, the Management Representative came on the line and promptly told me he could not speak to me if I was recording the call, however, he would call me back as long I would state that I was not recording. I agree. He called and advised me that HE was recording the call for MY protection –ha!
The next two hours were spent with me pointing out to Stanley that there is NO LITERATURE and NOTHING on their website that states that you have to be due for renewal or out of contract in order to qualify for the $160.00 price. I pointed out that there is even a button on the site under the advertisement of “$40.00 per month smart phones” that states “existing customers click here”. His answer is that this is a promotional offer and that is why it does not specify it in writing. What the huh?!? This was the answer for two hours. Bottom line folks – bull hockey. They are making it up. The rules are not in writing ANYWHERE. There is no “restrictions apply”, no asterisk, nothing. As usual with Verizon, the answer depends on who you talk to. So, I will continue working towards ending all of my contracts and I eave this on every website I can find. Smart phone user beware!
Unfortunate situation, you might also try going to a local Verizon store to make the change.
Norman- thank you for the suggestion, however, that is where I went first. I told the rep what I wanted, he had me pull a chair over next to him while he looked at the account, then after about 5 minutes of looking and reading about the Edge program, he told me he would have to analyze mt account and reading call me back the next day in order to give me the best rate possible. I am still waiting for that call.
Maria ball I’m planning on switching to t mobile??? I have Verizon and it so experience. Help???
Hi i hope you can help me, im really looking into getting the edge plan. Im only 18 and im in school so i want a iphone but i want to be able to afford it. With the edge plan i see that i can break my payments in 24 months thats lovely. I went on Verizon andi checked in for the phone and if i get the iPhone 5s i will pay $92.52 a month. That’s absolutely lovely. My question is it says that next month might be higher . What does that mean? It doesn’t mean that my next bill is gping to me $200 does it i hope not please help me
So do you get unlimited text and talk with this contract?
The More Everything plan has Unlimited Talk & Text and Shareable Data.
She told me straight up. I was asking about the edge because the Iphone 6 should be out in a month or two.
Chris: Hi. Question about the edge program. I have a 17% discount currently on contract. would that still apply if I went over to the edge program
Gabrielle: Yes it will.
Chris: ok. Now if I have a galaxy s4 that i would like towards the purchase of an iphone 5s 16gb that would effect my payment by how much?
Gabrielle: Mobile number so I can better assist you.
Chris: XXXXXXX
Gabrielle: Accessing your account now.
Gabrielle: May I have the billing password on your account Chris?
Chris: XX
Gabrielle: Thanks lets see what we got.
Gabrielle: Ok you qualify for edge on both lines. you will be saving $10 a month.
Chris: that is not what I asked.
Chris: If I trade in my s4 for payment on an iphone 5s how much would that monthly payment be
Chris: for the device
Gabrielle: You will be giving your device to verizon. You won’t be trading anything in.
Chris: my current device even though I am not on contract?
Chris: sorry am on contract?
Gabrielle: The payments on the iphone 5s is $32.49 a month. Yes still under contract. You will giver verizon that devices and they will give you the iphone 5s that you will pay $32.49 for monthly until the device is paided off.
Chris: and I lose the $200 that I originally paid for the galaxy s4? right?
Gabrielle: You will be giving verizon the device (s4) and they will give you the Iphone 5s. That you will pay for monthly $32.49
Chris: the issue i have is I paid the subsidized price for the Galaxy s4. I’ve already put a year of contract into it. one more year I would own it. I’m losing “half” a device and then I would be paying more than full price for the iphone? The math doesn’t add up there.
Gabrielle: I understand totally I am just giving you the rules on this program.
Chris: So financially, would this be worth it?
Gabrielle: To me honestly no.
Gabrielle: Reason being is that you are going to spend more money and you are almost done with contract.
I’ve been with Verizon for 10 years and am 1 month away from my contract ending on 3 smart phones and in my Verizon account I get an exclusive upgrade offer so I click on it and have a choice of 63 phones at discounted prices hell yeah!! So I go for the Moto X on all 3 lines and customize all 3 but at the end it wont go threw Motorola says I need a redemption pin to call Verizon for it the first rep told me that I can only get the iPhone 5c (junk) I hung up and called back the next rep tells me it is a special offer but only to edge (rip off) The offer I have does not say that at all then he says he can go ahead and push it threw on a 2 year contract after 5 minutes waiting he comes back on the line and says the policy changed yesterday and he can’t do it now… how convenient he also tries to push the iPhone 5c on me for free I tell him that I don’t want that phone. In the end they are just rip off fishing scammers trying to push there unsold junk on people I will not be renewing my contract they also talked bad about T Mobile trying to get me not to switch That makes me want to switch even more…
How much does it cost to get out of the edge plan? My fiancé has it and we are paying too much for both plans. It would be much cheaper if she transfered her line to my account but the u won’t allow this with edge. She can’t get a straight answer of what the cancelation charge would be. Any ideas?
Verizon’s Early Termination Fee (ETF) is $375. My guess would be you’d have to pay that plus surrender your smartphone. If the smartphone was not in great condition, they would probably charge you for that too.
We wouldn’t be canceling the line. We would transfer ownership to my account so there would be no etf for the line. But they won’t allow the transfer of the edge plan. And i can’t get a straight answer out of them. I’m probably just going to have to go to my local store because I’m tired of getting the run around on the phone.
Basically, when you get a phone on the edge plan, you sign an interest free 20 month loan on the full price of the phone. In return, you get a discount on your monthly access fee.
Btw the etf is $350 for all smartphones, and $175 for all other devices. I work for Verizon and am sad to hear all this misinformation being tossed around. The edge agreement works like this: the full retail value of the device is divided in 20 monthly payments, and the full tax is either charged on the first bill or monthly, and this depends upon where the device is shipped or purchased. After 60% is paid off, then you can turn the phone back in and start another edge agreement. The old balance is then removed. You can have a max of up to $4000 in edge agreements, but u do have to meet financial requirements, such as 6 months of on time payments. You also have to be outside your contract, or prequalify for early edge. With edge you avoid upgrade fees and get a monthly discount if you are on the more everything plan. The discount is $25 off each line charge of 10gb or higher plan, and $10 off line charge if 8gb or lower plan. To get the discount you have to have a edge agreement on the line and be on a more everything plan. Regarding the transfer of phone numbers to other accounts.. this is called a assumption of liability which cannot be done while the line has a edge agreement. The only way to transfer would be to pay off the total edge agreement. If you are outside your 14 day worry free guarantee, you can not just turn the phone back in and get the value or cancel edge. Once you sign up, after 14 days you cannot cancel the edge.
Appreciate the clarification.
No problem.. it just horrible that Verizon wireless customers are being told wrong info by our customer service and and I feel bad for our current customers and soon to be.
Jennifer, it’s nice to meet a Verizon employee who cares. Honestly, I’ve come to expect the runaround and “gotchyas” when dealing with the company. It’s unfortunate. I had an employee go out of their way to call me back and let me know that my request to separate two accounts had been taken care of. Six months later I start getting calls from collections who swears that there was no record of that happening. They tried to stick me with nearly a thousand dollar bill. I got the FCC involved and got it reduced to $100, still $100 more than I should have had to pay. I think the company is too large for cohesiveness.
Hi Jennifer looks like you can help me please help me lol Hi i hope you can help me, im really looking into getting the edge plan. Im only 18 and im in school so i want a iphone but i want to be able to afford it. With the edge plan i see that i can break my payments in 24 months thats lovely. I went on Verizon andi checked in for the phone and if i get the iPhone 5s i will pay $92.52 a month. That’s absolutely lovely. My question is it says that next month might be higher . What does that mean? It doesn’t mean that my next bill is gping to me $200 does it i hope not please help me can help me
Usually the first month is higher when you are on Verizon Edge. You have to pay sales tax for the retail cost of the smartphone, in addition to monthly charges.
Hi jennifer so i need clarification could u email me to speak on some things. Id like to see what can be done for upgrage or not. Thanks
We’ll I think edge program is pretty cool to get new device that u can’t afforded btw I’m just confused verizon told me that if I do edge and I’m still on contract I’m only going to pay extra 40$ Depends on the phone cost for 24 moths or 20.
the question is 1-should I give them old phone to do the edge!? Because I only want is to active my old number on the edge phone and never use the contract phone or in another way I don’t wants another phone numbers coz I’m not going to use it.
2-I have 2 contract iphone5 + 4gb +20$ insurance for both +20$ international calls for both
=all 180$ that’s what I pay every month
If I do edge what is going to happen to my bill ?! It going to be extra 40$ like what they said or something els?!
In your example, the Edge is listed at $2696.76, and the 2 yr contract is listed at $2502
This is a $194.76 difference. But you don’t take into account that if you are on a 10GB plan, you step up to an extra $15/month which adds up to $60 over 24 months.
Plus, Edge customers are getting a $100 credit right now.
So, an extra $460 savings if you are on a 10GB plan means that the savings of Edge over 2 year contract would be $265.24 (based on your example)
I calculated my break even point with the iPhone 6 64gb to be 12.8 months with Edge over a 2 year contract, at which point I will be saving $25 a month, so it will be $280 less over 2 years to be on the Edge program.
Went to a Verizon store today and was told three different things by three different reps regarding the Edge program. I have had bad luck with Verizon customer service over the phone for years. Maybe a switch to another carrier is in order.
I’ve spoken to 9 different Verizon rep, including 2 at authorized stores and were give 9 different answers. Whenever pricing seems pro customer, Verizon states it was wrong info given by their representative and there are no records/notes taken by their reps, regardless if you have the name of the rep you spoke to…OR their can’t locate that rep. I was also put on hold for 1 hr waiting to speak to a supervisor.
Can anyone tell me if there is there ANY advantage to being on the Edge program if I plan to pay off the phone after the 1st month, and not looking to upgrade?
I have no problems with paying for my new Smartphone in full upfront. I don’t want to be on a contract. Verizon is stating I can be on a No Contract Plan with 2GB date, unlimited talk/text for $75. They would give me a $15 discount for owning the phone, and another $15 discount for being the Edge program. They say if I pay off my phone after the 1st month, then I would be paying $45 per month for the plan.
After speaking to so many reps and all with different answers, I’m very frustrated and confused. I’m apprehensive of Verizon’s policies, hidden fees included with the Edge or other things Verizon isn’t being totally upfront with .
Why don’t you just buy the phone upfront? Apple stores will sell you a Verizon iPhone at full price without a contract.
I am on a more everything plan with 4 lines, 10GB of data and no phone is under an Edge contract. My son’s basic phone is eligible for upgrade now and we are going to get him an iPhone. Based on my conversation with Verizon the Edge plan seems like the better deal unless I am missing something. The cost of the monthly payment and the $25 per month line discount is basically a wash. Comments?
Look at the above analysis. It is not cheap but has a couple situations where it is worth while like if you plan to upgrade early.
Beware upgrading on the edge plan.
In the fine print they don’t tell you they charge you tax on the full price of the phone if you upgrade.
I had upgraded my 2 (two) iPhone 5S phones to 2 iPhone 6Pluses,
and although they more less took in the iphone 5 as a “Trade-in”
I still ended up with an additional $140 worth of taxes for both phones.
See the Math below of what ended up on my bill.
my $311 monthly bill for 4 phones and 1 tablet
went to $452 on the first month.
This for on my bill twice for each phone
Edge Up Agreement xxxxxx (months 15 – 24) Remaining Balance $312.40
Edge Up Agreement xxxxxxx (months 15 – 24) Returned Device -$312.40
Verizon Edge Contract Number xxxxxxx $35.56
LA State Sales Tax** $34.00
Local District Tax** $41.65
Verizon Edge Paid: .00
Verizon Edge Past Due: .00
Verizon Edge Balance (after current installment): 814.43 Verizon Edge Buyout
Equipment Charges $111.21
I went in to get the Moto X 32GB the other day and got exposed to the Verizon Edge program. Updating my line would update our entire plan to 10GB. Their selling points to me are that the line itself will be $15, there is that $25 dollar discount per month, and the phone itself will be ~$33 dollars a month. So that totals $38 per month vs the $40 I am currently pay for. I have no intention on using the early upgrade plan and will ride out the phone as long as I can. The customer service rep I spoke with at the corporate store says after the phone is paid off, I would be only paying $15/month. Kind of hard to believe. I am trying to figure out if this plan is good for me. Or stick with my Motorola Cyber Monday code and get it off the Motorola website and pay $50 up front and re-up the contract. Any thoughts?
I ask because I have found very little information about what I want to do with the phone/plan, and what I have found hasn’t been consistent.
Sorry ~$23 a month so that it equals $38.
I have a line I am considering upgrading to Edge so I can cancel the line in a couple months without paying early termination fees. I understand I will have to continue paying the Edge agreement. After I cancel the line the Edge phone is on can I transfer the Edge phone to another line and then get the $25.00 line discount?
Edge is an installment agreement to pay for the phone until completion. If you cancel, you have to pay the full balance right away.
Here’s what I’m coming up with for iPhone 6:
Non-edge plan – startup 199.99 + 35 activation, 80 for 10gb of data and 40 for line access. Total over 24 months is 3,115 or about 130 a month.
Edge plan – startup 0 + 0 activation. 80 for 10 gb of data and 40-25 for line access (15). Plus equipment costs of 27.08 for the phone. Also a 150 credit for new edge plans. Total over 24 months is 2,770 or 115 per month. Using averages and spreading the credits. What am I missing? Ignore taxes because I live in nh and I’d only be taxed on the service, so in this case edge would also have lower taxes.
I understand the loss if the lower gb of data, but based on this model, isn’t the edge plan the more cost effective plan for my family? I appreciate any insight.
Their line discount and $150 credit really makes it worth considering the edge plan, as you can see by the numbers. Even if you don’t care about doing an early upgrade.
I am looking at the edge plan as well. I am currently on the shared minutes unlined text and data plan. I want the Samsung s4 edge phone and in store is 300.00 if I go on the edge plan. I also can trade in my note 2 at a 85.00 trade in value. I am eligible for upgrade. My issue is if I upgrade my phone I loose my unlimited data plan. My bill goes from 150.00 to about 130.00 per month but no unlimited data. I was also told if I buy the phone at a place like Amazon I can then bring it to the store and add to my line remove the note 2 and keep my unlimited data. Problem being is you can’t buy the phone any where for 300.00 it’s 600.00 and up and I think they know that. So bottom line is they have you if you want a certain phone. Go on the edge plan and loose your unlimited data, pay 300.00 for phone or spend big bucks out of pocket and supposingly keep unlimited data and pay the 150.00 a month. i have been with verizon since sprint bought Nextel and I think this is pretty crappy to take away the unlimited data if I upgrade and continue to give them business. so now the question is do I loose unlimited data or not? Not to happy with verizon at the moment
If you use a lot of data (check old statements), it is worth jumping through the hoops to keep it.
But with Edge, you don’t really own the phone after 24 months since you have to return it in working condition whenever you want to upgrade, even if its 4 years later. If it breaks, you are responsible for buying another one to return or pay for a replacement. Why can’t you just start all over for another 24 months if you’ve paid off the first one?
After paying off the installment payments, you do own the phone. Technology changes so much, a 2 year old phone is pretty old. Time to upgrade.
If you have an Edge plan, keep your same phone for the entire 2 years, what do you have in the end?
– Reduction in monthly fee (no longer financing phone)?
– You own the phone outright?
Now if after these 2 years you want to get a new phone, don’t you just enter into a new Edge agreement?
If this is all true, then this plan is just as attractive for those of use to don’t want/need a phone every year, correct?
After 2 years.
Yes you get reduction in monthly cost.
Yes you own the smartphone.
Yes you can do another Edge plan or a 2 year agreement.
I talked to a Verizon representative on the phone. According to her, with Verizon Edge, if you don’t upgrade your phone after 2 years, your contract price will not remain at the Edge discounted price. In other words, the Edge discounted price is only guaranteed for 2 years.
With Edge, the cost of your device is split into 24 monthly installments, which appear on your bill. After 24 months you own it and don’t keep paying for it.
That is what I thought. I paid my phone off completely after 6 months on the edge plan, and my line charge went back to 40.00. I have argued with multiple representatives on the phone. They made it clear that the 25.00 discount is only when paying for an edge phone. So now I am paying twice for my phone if I stay with Verizon for the next 18 months. I am done with big red.
I was told that you can ask for a “customer loyalty” discount (equal to the Edge discount, $15 or $25 per line, depending on plan) once you are out-of-plan – they specifically told me past 24 mo on 2 yr contract, or on Edge with phone paid off. You need to specifically call and request it, and you’re eligible for it until you re-up to a new plan.
I’ve asked a Verizon rep and they said the $15-$25 Line Access discount continues after you fulfill Edge installment plan payment. They also said it was automatic.
The edge program with Verizon is a joke. I was already on the edge program, there was a misunderstanding about a payment. They took me off the edge program for 6 months and put some kind of black flag or something on my account. This was after I paid the amount they told me I needed to edge up. So I told them that I wanted that money back and I was told that’s not possible. I have been on the phone and in the store for several hours and still nothing!!!! Time to switch carriers!
I read through all the replies here and I’m not sure if I understand.
basically I only buy a new phone when my old one breaks and that usually happens after about 3 years, so what is the best option for me?
Should I switch to the Edge plan?
You should avoid Edge then. You pay a premium for Edge and it is not worthwhile unless you want to upgrade every year to a new smartphone.
My understanding is that Edge would also be beneficial to keep past the 2 year mark, as then you’d reap the savings of the lower monthly plan ’til you decide to upgrade your phone and start the monthly device payments again.
From what I can see, the overall fees are pretty close to a wash (slightly higher) to do Edge vs 2yr contract, if you plan to upgrade your device at 24 months.
It’s a good plan to do Edge if you want a new device every year – trade your phone in, no 2yr contract and no ETF fees.
It’s a good plan to do Edge of you plan to keep your device long term and reap the lower monthly service charges.
Right??
Exactly, you hit the important points.
Thanks so much for this information.
My question is if I am interested in two lines with at least 6GB if data, how does the new deal with the Edge of 2 lines with 6 GB for $100 look? Seems to me that after 2 years the normal plan amounts to $400 upfront for the to two S5s and $150 per month fee verses $0 upfront and $140 monthly fee for the Edge plan which makes the Edge plan better. Do you agree or am I missing something?
If you are not buying the latest iPhone, I would suggested buying a refurbished iPhone 5S from eBay and not even dealing with Edge. You will save a lot.
Actually was interested in getting the Samsung this time and don’t currently have a plan (had a company phone) so I need to establish a new plan. Any recommendations for a plan. I am interested in two smart phones with at least 6 GB of data. Thanks.
You can find all sorts of deals on No contract Verizon smartphones at http://deals.ebay.com/. A Samsung Galaxy Note 3 Verizon is $290.
I just did this Sunday. We got two iPhone 6’s, and share 6GB of data. Our plan looks like this:
More Everything Unlimited Talk & Text: $70
Line 1 shared 6GB: $35 – $25 Edge discount = $10
Line 2 shared 6GB: $35 – $25 Edge discount = $10
Line 1 Edge phone payment: $31.24
Line 2 Edge phone payment: $31.24
Total = $152.48 + approx $14 or so in tax/fees
Additionally, Verizon customer service added a “promotional 1 GB of data” to my plan for a year at $0 cost to me. 🙂
ETA: That Edge phone payment I listed above was for the 64GB iPhone 6 – obviously you’d need to adjust that slightly based on the Edge price for whatever phone you buy.
The only thing we paid for in-store were cases and screen protectors (tempered glass)… I was skeptical, but there really were no hidden fees.
Thanks!
I’m curious how they’re where no fees. I was under that impression but after switching from my 2yr plan of 7 years to the edge plan this week,I had to pay a “set up fee” of $35 per line (2 lines =$70). Now I’m reading it says with edge there are no upgrade fees etc which is usually $30 per line with the 2yr plan. Hmm sounds like I got ripped off lol
Yesterday I upgraded from an iPhone 5s to an iPhone 6 plus 64g. The VZW rep recommended the Edge Program. She explained it to me like this:
If I went with the 2 year contract I would have to pay $399.99 up front for the new phone, and then continue on with my normal billing that I currently had.
If I went with Edge I would just have to pay for the sales tax at the time of purchase.
The cost of the new phone is $849.99 broken down by 24 months = $35.41 monthly. But being that I have a data plan over 6G I get a $25.00 discount off the monthly cost.
So $35.41 – $25 = $10.41 (before taxes)
So at the end of the 24 months I will end up paying $249.84 for the new iPhone 6 plus 64g. From my understanding after the 24 months of paying the $10.41 ($249.84 total) the phone will be paid off and will be mine to keep. So even if I wanted to upgrade after the 24 months, I can get a new phone and give my husband or child my old iPhone 6 plus.
You do need to pay for that data plan over 6GB which is $70 a month plus $40 line access for 1 phone = $110.
FYI The cost premium for Edge has fallen $130 by January 2015, making the extra cost minimal.
So my understanding on the 2 year contract is that I pay a $40 line access charge for a phone still on contract, and a $20 charge for a phone I own (or one I am making payments on). I am in this situation currently. Few analyses show this difference. I am going to upgrade to a 7 plus and have one phone on contract, and one off – trying to decide whether to use the upgrade and enter a new 2 year agreement. Btw, I used to be on an unlimited plan and ended up switching because i simply don’t use unlimited data (usuall7 1-2 gb) and can easily increase my data month by month. Also, with the new plan Verizon allows data to carry over into the first month. I probably paying about the same over all, but feel better about the flexibility of the new plan. Thanks for the article, I think you have one of the best out there and also are improving it as new info comes in.
Everyone has a different situation, so it is complex addressing all of them.
Adding to the mix… iPhone 7 Launch Sale! All 4 carriers have trade in your iPhone 6 or newer to get an iPhone 7 for free. Essentially this locks you in for 2 year of monthly credit. You can sell an iPhone 6 for $300 on eBay, so your net gain is about $350.
Thanks for the heads up! I pretty much had decided I was going to upgrade to a monthly payment plan and leaning toward buying straight from apple, but checked with Verizon and was able to trade in a 5s for $400 on a monthly payment plan! It will reduce my payments by over $16. That deal sealed my decision. This will get me out of contract and much more flexibility in the future.
Unfortunately Chris, you won’t be able to give your old phone to your husband or child if you are on the Edge plan. To get your upgrade, you will have to return that phone to Verizon (in good working condition, with no significant damage). If you happened to drop your phone in those 2 years and have broken the glass, you will probably have to pay to get it fixed before Verizon will take it back.
My understanding is that you only turn the phone in if you EARLY Edge, because you haven’t paid in full for the phone yet.
Once the phone is paid in full, you can keep it or sell it, and Edge again for a brand new phone.
HAHAHA you own the phone after paying for it for 2 years, but to upgrade you have to trade it in. That is why edge is a scam, if you upgrade, then your investment in the previous phone is totally lost. The only way you own it is keeping it. Verizon is making a killing on this, those little discounts aren’t a drop in the hat to what they are making.
That is true but it is more complex than that.
The extra cost for Edge over 2 year contract is down to $55. It was a lot more previously.
After 2 years, your monthly cost will be LESS using Edge than 2 year plan. You are constantly paying for your phone every month in a 2 year plan!
My understanding is that you DON’T have to trade your phone in after the 24 months, precisely because you do fully own it at that point. You only have to trade in if you early Edge, which you are eligible to do when 75% of your phone price has been paid off.
Kate, you are spot on.
I have a question. I would love to get a new phone. I still have unlimited with Verizon however I can’t get one unless I pay full price to keep my unlimited. To get the new iPhone at the $199 i would have to renew my contract which is out of the question considering what I do for a living I don’t always have wifi avaliable. Does anyone know if the edge program is good for someone in my situation?
I believe so, Candace. As I understand it, Verizon Edge simply takes the full cost of the phone and divides it into 24 payments, and adds that to your monthly bill, minus whatever credit toward the monthly service you may be eligible for, for moving over to Edge.
We didn’t change our plan at all, just added $31/mo for the price of each phone, and then got a $25/mo credit per line toward the service cost. The credits vary by plan, so you’d have to see if you deem it to be worth it.
But my understanding is that Edge should allow you to keep your unlimited plan without renewing to get the “upgrade price”.
If you get a new phone under Edge, you will lose unlimited data. You need to bite the bullet and pay full price for a phone to keep unlimited data.
See how much data you have actually used, for many people who use less than 4GB, you might be better off with a new data plan and Edge.
Ah – I don’t have unlimmited data, so I shouldn’t have spoken up. 😉
The VZW rep just told me when we moved over to Edge that it doesn’t change your plan at all, so I was going off of that. I stand corrected!
Looking at my plan I’ve already used 5GB and this cycle ends on the 3rd. Some months i use a good bit. I work with a airline and while working on a plane I don’t have wifi access. It would be easier to not have to pay full price. However that unlimited is important to me. 🙂
You use a lot of data, the average person uses about 2GB. Data use will just Increase over time.
I would bite the bullet and pay full price. It is worth it in the long run.
My 2 year contract is up in June with 2 phones. One phones needs to be replaced, the other one doesn’t. To get a new 2 year contract, do I have to buy 2 new phones?
Yes. If one phone doesn’t need to be replaced, you can just keep going with the current plan. No need to buy another phone just to keep a 2 year contract. This will give you the flexibility to upgrade when you see a phone that compels you to upgrade or if a phone gets damaged.
Great, thank you for the answer. That is what I was hoping for.
Can someone explain to me how I was charged $35 per line for a “set up fee” when I just switched my 2yr plan over to edge when I was due for upgrades. She just said oh its just a normal “set up” fee,I was never asked or told anything about that until I was done & ready to leave I had to pay $70 in set up fees but I was under the impression that there where none of those fees when joining edge. Do I need to call for a refund? Sounds fishy to me considering the upgrade fee on 2yr is $30 per line & a perk of joining edge is NOT paying those fees but they somehow snuck that one past me!
You can go to verizonwireless.com and setup a new phone and select EDGE. It clearly says in the shopping cart: One-Time Activation Fee: $0.00
The one-time activation fee is waived for Verizon Edge customers.
2yr plans always have activation fee unless there is a promotion occuring.
I am eligible for upgrade in august. However, my trusty s4 is giving up 4th ghost. So I qualify for an early edge they say? But only two phones are eligible, the turbo or the maxx. Is that correct? And if so- Is it worth it?
Early upgrades are costly, I would not do it for a turbo or maxx.
Check the http://deals.ebay.com/ page, then search for verizon. Find a cheap phone to hold you over for 6 months. Then get a S6 or Note 4, something worthwhile.
Giving up the ghost sorry
I waited 5 yr to upgrade got a two yr edge for 30 a month off the plan. I Save over 240.00 over 24 month .ever if I paid full price for the phone. You have look at the whole plan .If you get discount on the plan you add that in.You get one Bill a month not one for phone and one for plan . Rip
Thanks for the information. I was looking at the program and trying to figure out why Verizon wanted to offer the program. I couldn’t see what they had to gain from offering the program (the max 75% down payment caused me concern). Seeing that they don’t offer their discount on the retail price of the phone I can see that they make their money on the higher end smartphones. So it’s a matter of comparing the savings per month versus the 2-year replacement plan discount. Thanks for all of the information!
To clarify, if one’s contract is almost up and one switches to the Edge plan, one pays full retail price for the phone?
There is no reason to switch to an Edge plan if your 2yr contract is almost up. Finish it out otherwise you have to pay Early Termination Fees (ETF)
The main reason to switch when you have a contract, is to another provider. T-Mobile has promotions all the time to pay your switch fees.
I was told that you can early Edge by handing in your phone, then there’s no ETF’s. I was about 6 weeks out and got more $ for my phone by waiting so I could sell it. But perhaps it’s advantageous to trade in and early Edge?
Thanks for the info. I have a few more question based on our situation. My family has four flip phones on 2-year contracts that are ending next month. We plan to upgrade to iphone 6’s.
1. Is there any advantage to buying the phone for full price from Apple and then getting a contract with Verizon? Do they have lower monthly fees on MORE if you bring your own phone?
2. Can you pay off your Edge plan early? If so do you still get the monthly discounts on the More plans for 2 years?
3. Does Verizon still honor employment discounts with Edge & More plans?
4. Do you think it is better to deal with Verizon reps on the phone or in the store to handle these transactions?
Thanks for your sharing your thoughts!
I don’t think there’s an advantage to paying full price and then getting a plan. Fees aren’t lower – in fact the plan is discounted with Edge, not without.
You can pay off your Edge plan in full early, after 30 days, but you don’t keep the line discount then. HOWEVER – once you’re “out of contract” (I.e. edge or 2 yr past 24 mo), you can ask them for a loyalty discount, which is the same as the Edge discount ($15 or $25 per line depending on plan). I didn’t know this prior to my last visit to the store!
Both are helpful, IMO, but I like to go in store when purchasing so I can ask questions and get answers face-to-face. But I called to ask questions while I was researching, and they were spot on, too. 🙂
They do still honor employee discounts – I have one.
Thanks for your help, Kate!
Jason.
1. No. The monthly fee is the same if you paid full price or brought your own device. $15 line access + $40 for 2GB/month = $55. But your initial cost for the iPhone 6 would be $649.99+tax vs $199.99+tax on 2yr plan. It actually can cost more. Check out our deal section, we find deals on unlock phones from time to time.
You can make a down payment in advance to reduce your monthly Edge payment. However, the total down payment can’t exceed 75% of the full retail price of the device.
Paying for your handset upfront would allow you to go month to month with your plan. No long term commitment.
Buying a device up front works best if you can use it with Verizon prepaid, then you can get a $60 per month option with 2.5 GB of data, instead of paying the More Everything $80/month for 2GB!
2. Yes you can pay off Edge early. I believe your Edge discounted line access would continue if you paid it off early.
3. Yes
4. It is a crap shot. Your best bet is to try both. Different reps at Verizon often answer questions with inconsistent answers.
Thanks, Norman!
I have a question:
I recently upgraded to an Iphone 6 Plus through the edge program, i only paid the taxes and i was told to pay of the phone in the subsequent 24 months; while doing this i will be receiving $15.00/month off my total bill. I did not want to pay for the phone for the entire 24 months so i ended up paying the entire balance of the phone a couple of days ago. Will I still be receiving the $15.00 a month off now that i paid off the entire phone?
Nope! The Edge discount only applies when you are paying monthly for your phone. But, I was told by Verizon that you can call and request the “customer loyalty” discount, which should be the same amount as the Edge discount per line ($15 or $25 per line per month, depending on your plan). They will give you this discount when you’re out of contract and choosing to stay with Verizon – i.e. after 24 months on a 2-year contract or when your device is paid in full on Edge… so after 24 months on the Edge plan or after paying off your device early.
The true Edge line discount only applies while they’re charging you for your phone. But the loyalty discount should pick up after that, since you COULD switch providers but are not. Hope that helps!
One yr ago we bought two Samsung Galaxy 4 w/ Edge agreement w/Verizon. Special phone costs were supposed to be $149 for one and $49 for second phone. Only have one gig for each phone. We pd activation fees (supposed to be free) and other fees in store.
Our monthly bill is $163. My phone has frozen up with McAfee Security notification of possible virus site 4 times in the last 3 months. I usually call tech support and in 30 minutes they unlock notification from my phone. 3 days ago after one and a half hrs w/technician,who could not unlock, the Verizon store took nearly 2 hrs to factory reset my phone loosing ph nrs, text msgs,& some photos!! I am really ticked–plus McAfee had been removed from my apps by the technician after the 2nd freeze by McAfee. Explain that
I can’t wait to change carriers.
Verizon lies about everything!!!
Try removing McAfee Security and switching to Lookout Mobile Security.
My major concern is that they require me to hand over my current phone that I paid for without reimbursement or trade in credit. Do they consider this to be in lieu of my ETF?? What happens if ur not in contract? Is there no trade in requirement? Do u not qualify for edge then??
There isn’t a requirement to hand over your current phone to start and Edge plan. If you want to EARLY Edge, yes, you have to hand over your phone as the “trade-in” for allowing you out of the remainder of your contract early, essentially.
But if you’re currently not in contract (either past 24 mo on 2 yr contract or on Edge month-to-month with fully paid phone), then you don’t have to hand over your current phone to begin Edge on a new phone.
I sold our iPhone 5’s on eBay (past 24 mo on 2 yr contract) and kept the cash and then signed us up for new iPhone 6’s with Edge plan.
I’m on the edge plan and to me it’s just another way for Verizon to screw you over. MORE MONEY FOR THEM, and bad service for me. I’ve complained for several years now. I would not recommend Verizon edge. The sales rep did not explain the way it worked she just wanted the sell. NOW I’m stuck.
susan, why do you say the edge plan is another way to screw you over. .I’m very skeptical about it and feel it’s a trap..yes it sounds like a good deal at first, but I’m sure there is a catch. can you give me your input on this?
Help!! So I have an 8gb plan and I’ve been told that in order to do the edge plan I must upgrade to 10gb for $10 a month, adding up to $240 for 2 years..rats the same thing as staying with my contract because these what I’d pay up front for a phone..plus Verizon is constantly changing plans..I don’t want to run the risk of losing my 8gb if I do the edge. .input please
This did happen to me. I was on a 4GB plan and Verizon upgraded it to 8GB for no charge. When I switched to Edge, my plan stayed at 8GB but increased in price, before the Edge discount. I called to ask, and was basically told that you can’t have two discounts on your plan. So I could either get the loyalty 8GB for 4GB price discount, or switch plans and get the Edge discount. Instead of going up to the 10GB, we went down to 6GB and then they gave me a promo 1GB per month free, so I have 7GB/mo.
Kate,so are you happy with the edge plan..are there any hidden fees..also,after your 2 year edge plan..do you run the risk of losing your 6 gb?
I am very happy. The first bill is slightly higher, something about how they pre-bill or something. I expected my monthly charges to go up approx $15/mo by my calculations. The first month was $30 higher and then each month has been $15, so no hidden fees.
My plan won’t change, unless I change it. It’s their current standard plan, you can pick whatever size data plan suits you, and then they apply the Edge discount accordingly.
I really like it, b/c we walked out with two brand new iPhone 6 64GB’s for basically nothing, only the $15/mo addition to my bill for 24 months. I’d do it again!
I had an outdated grandfathered unlimited plan with my family. But my fiancee and I wanted our own family plan with her mom. I didn’t have any issues separating my number from my then current plan but I obviously had to give up the unlimited data.
My fiancee, her mother and I were all off our 2 year contracts and were eligible for upgrades. So we did the 10gb shared more everything family plan.
We all upgraded our phones. My HTC M9 was 25 bucks a month on Edge. But they’re applying some monthly discount to my line for 25 bucks which means the phone is basically free for me. My fiancee and her mother got Droid Turbos which were only 20 bucks a month. They both also got the monthly $25 credit which means they actually pay 5 bucks cheaper every month on their end.
I’m not sure what the $25 credit was for. The rep at the store didn’t do too good of a job explaining it. But I get an upgraded phone for free and pay about 66 bucks a month for my 3rd of the bill which was less tan I used to pay on my old plan. It’s not a terrible deal I think.
The monthly discount is for having a phone on Edge plan. They call it the: $15-$25 monthly line access savings.
ok. I understand the edge plan and cost/benefits if you upgrade after 12 mos. or wait the full 24. here is my question: if I upgrade after, say, 18 months, am I just throwing away my 12-18 mos. payments? seems u have to decide to upgrade after 12, or hold off till fully paid at 24 – anything in between is wasted $$$.
David,
I think you understand it correctly. Upgrade as soon as you can, because you want to or just hold till the phone is paid off. The key is to compare prices with 2 year plan as the price difference may not be much or anything. It gives you another option at least.
do i have to wait till my 2 year contract is finished to be eligible for the edge plan or can i do it before my 2 year contract is over?
Yes you have to wait unless you want to pay an early termination fee (ETF) to end your contract early.
I had to get management approval in order to upgrade my phone two months early. And then when I got my new phone I did the edge plan
Thanks Christie for mentioning this. So keep asking and don’t take NO for an answer!
They actually offered to get the mgmt approval for me. I got lucky and had a great Cust Serv Rep.
I recently tried getting off of my mom’s plan to my own. My sister used my upgrade I’m April and now hers is up so I could use it to get off the plan. But she did the edge program with my upgrade do now my number is locked pm the account until the edge phone is paid off. Even tho my phone is paid off its just stuck on my number. Do you know if they will ever change it so she can switch the edge to her actual upgrade
You need to ask a Verizon rep about splitting off of a family plan and taking over financial responsibility. They should be able to swap a phone number from one phone to another.
I have a question. I recently edged up two of my phones. Paid little over 50% of edge payments off so was eligible for upgrade. Did lots of research and talked to different people at Verizon to find out more info. One of the questions I asked was about the remaining edge balance, would I have to pay that. Was told no, that I would just start over with new edge agreement. Decided to go for it and order the two new phones. Got my bill last month and there were prorated charges that I was told about so I was expecting them. This month got it and was almost double what I was told. Called and was told my mom’s phone got charged for the remaining edge balance. I explained what I was told and guy kept saying that wasn’t true. I wasn’t charged anything so I don’t understand
Did you trade in the phones for a new one? Was there any overlap in the period they charged you for Edge?
As part of your recent Edge device upgrade, you must send your old Edge device, or an authorized replacement to Verizon Wireless within 14 days of receiving your new device, or you’ll be charged the remaining balance of your installment agreement.
Keep in mind if you did the swap of the phones on the 25th, Day 1-24 would be on the old one, Day 25-30 would be on the old one.
http://www.verizonwireless.com/support/verizon-edge-faqs/
WOW! I just read through all of the comments and still can’t decide. I currently have a cheap Samsung phone using straight talk. I went to Verizon this AM to check out phones and Edge program. I am looking at an LG G3. The rep said since I would mostly use for just phone and text that I should be fine with a 1G plan. Also considering dumping AT &T landline and getting Verizon home phone. Total will be about $110 which is about $15 more than I currently pay for all phones and long distance. I expected it to be more so no concern with that. My questions are will I own the phone after the 24 months, will my bill drop in monthly costs and is it worth it if I don’t plan to upgrade to the newest thing out there?
Yes you own the phone after 24 month. Verizon is now downplaying the upgrade aspect of Edge as most people do not upgrade. You get a discount each month when you have an Edge phone, and you will retain that discount after it is paid off.
Cant u just order the iphone6 agree to terms get the phone hange sim card to lets say simple mobile win win. Free phone and unlimited $60 monthly. I dont care about my ctedit with verizon only concern is if they can shut down phone even if I changed the sim card?
1) You need good credit to qualify for Edge.
2) If you get a phone on Edge, you have to select a Plan too.
3) If you do not pay your bill, they will send it to a bill collector and it will result in bad credit rating.
Sooo You said: Edge Up upgrade for Customers prior to 5/31/15
Customers on an active Edge Agreement before 5/31/15 can Edge Up, which is an option to turn in your existing Edge device and purchase a new device on a new Edge Installment Agreement without an upgrade fee. You must meet the other Edge Up eligibility requirements in the Edge Agreement to use this option.
Customers who entered into an Edge Agreement prior to 6/1/14 must have paid 50% of the full retail price
Customers who entered into an Edge Agreement between 6/1/14 and 10/15/14 must have paid 60% of the full retail price
You must send your old Edge device in or return it to a Verizon store within 14 days of getting your new device
Some can say the Verizon Edge ripoff is due to changing these terms
I wasnt even apart of edge before I upgraded and they want me to send my phone in when I already paid for it and was in a two year contract. They told me I can upgrade and it wouldnt change my plan. But if I wasnt part of edge plan to begin with, why do I need to send them my old phone that I already paid for this my own money. That doesnt make sense. I can understand if I was part of edge and wanted and early upgrade but I wasnt even part of edge. I shouldnt have to send them something that I bought. I dont have an “Old Edge Device” to send in because i wasnt on edge. I dont see why it would apply to me.
I just bought a new iPhone 6 Plus two months ago with Verizon Edge. Is there any way to leave Verizon and go to T-Mobile and have them pay off my phone?
If you switch to T-Mobile, they will pay the Early Termination Fee up to $350 per line. You could pay off the phone and use it on T-Mobile, if it is compatible. Check with T-Mobile.
Verizon has a 14 day return period, so you could have returned it back then.
i have a question. i have verizon unlimited data, but im going to switch to a s5. and get around a 6-8gb data plan. should i do edge, or new 2 yr agreement? which is going to save me the most in the long run, and be lowest monthly cost?
Please read the article above, it analyzes Edge vs 2 year agreement. The key detail is after the plan is done and whether you will keep the same phone, Edge will be cheaper then, because the cost of the phone is zero. With a 2 year plan, the monthly charge every month, even after 2 years, is the same.
Verizon is a rip off, the stupid lady who took my payment over the phone put in the wrong routing code for my check. Mess up my account! and good credit with Verizon. I was told that I wouldn’t be eligible for a up grade until 2016!! I was like WTF!! That was a error on your side, after asking to speak to a manager and being put on hold for 20 minutes, I some would call me back in a hour ha ha !! I never got a call! I instead I got a letter a week later say you are not eligible for a up grade until 2016, mind you I got the phone back in 2013!! What a joke Verizon is they such a big rip off! ! can’t wait for my contact to end I’m going to At&T..
Sorry to hear about your situation. These companies are a pain to deal with. I suggest getting documentation showing you bought in 2013 and visiting a local company Verizon Store, not a 3rd party re-seller.
My husband and i signed up for the edge back in June. Now we would like to switch carriers. Can we do that?mow would it work?
Of course you can, but it will be costly. You have to pay off the remainder of your payments.
Look for another carrier like T-mobile that will pay some of your early termination fees..
Thanks for posting about smartphone reviews.
This plan works well for us. We have a plan with 15 GB (family of 6). So with the Verizon Edge/Device Payment plan, we get a rebate of $25 for each phone on a payment plan. It’s reported as a reduction to the data plan charge of $40, but if you think of it as if the payment on an iPhone 6s is $32, we get $25 of that as a credit; netting $7. Over the 24 month period, I’m paying $168 for the phone instead of $650.
Magnificent site. Plenty of useful info here. I am sending it to a few buddies and also sharing. And naturally, thanks for your sweat!
This is all french to me. I read the article, but am still confused. I have been with Verizon since bag phones. I currently have four phones on my account (2 year contract). One of these phones, my son’s, still has unlimited data. My daughter wants to switch back to an iPhone 6S, so I gave her my upgrade and was planning on taking her Galaxy 5 to replace my G4. She wants to do the monthly payments, but will this mess up my son’s unlimited data somehow? I still am not sure if it is more financially smart to do the monthly payments, or contract. I didn’t notice anything about Verizon Edge. The email just said I was eligible to buy a phone with monthly payments. What to do????
Buying a phone with monthly payments is using their Edge plan. Existing customer may still be eligible to get the old 2 year plan with a new phone.
To keep unlimited data you need to read this article https://www.buyvia.com/blog/should-i-switch-verizon-unlimited-data-vs-more-everything-plan/
What about the trade in program for Verizon, you are not including current customers on the 2 year plan who already have smart phones. If you upgrade to the standard iPhone 7 and have say an iPhone 6s, your trade in value offsets the complete cost of the new phone, 199.99. Eliminate the 164.99(net 35.00 activation fee) you are saving sticking with the 2 year plan if you can wait until you are eligible to upgrade(close to 100.00 in savings). Tough to do with all the new phones constantly coming out each year, but if you can hold off, you save if you are already grandfathered in. Especially with the trade in amounts seemingly offsetting the cost of the phone with the 2 year contract.
So, I’m currently on the edge plan and still have a couple hundred dollars to pay on two phones before they are paid off completely. However, I’m wanting to switch companies due to our bill being over $250 each month. If I do so, can I return the phones and not have to pay the remaining balance or will I have to pay that balance no matter what? Thanks!
You can’t just return the phone and not pay the outstanding balance.
You can look into switching to another carrier and seeing if they will pay off your balance when you do a trade in and switch.
I would just like to clarify because I have heard and read different things. I know you did another article on Apple vs. Verizon Edge and I also read that and am looking in to them both so my question is, if we get the Verizon Edge program can we upgrade after 50% of the phone is paid off or does it have to be paid off 100% to upgrade? This is the main part that confuses me because I keep reading the 24 months/ fully paid off phone but if we are looking in to the 7 and decide next September that we want the 7S or whatever they call it do we have to pay off our current phones or only 50%, kind of like the Apple Pay where you pay a years worth on your phone. Hope this made sense.
Here is Verizon’s Terms and Conditions –
You may be able to upgrade your eligible device for a new qualifying device after 30 days provided that you have paid at least 50% of the retail price of your device under the device payment agreement and you return your eligible device to us in good working condition with no significant damage as determined by us..
I have a question, even after I read through all the comments above, one thing I’m not clear is the ownership of the phone when you sign a 2 year contract.
For example, if I sign a 2 year contract and get the iPhone 6s for $79.99, and after one year, I want to buy difference device (but still using vzw) to replace the 6s, will I be able to sell it? Or I will have to pay some fees before I can sell it?
Reason why I’m asking this is because I think 2 year contract means customer promised to use vzw’s service for 2 years but there should be no restrictions on what customer want to do with their device.
I appreciate if anyone can correct or confirm the logic I provided above. Thanks in advance!
A 2 year plan means that you will own it only after 2 years.
If you want to cancel before 2 year or switch to a different phone, you have not paid for the device in full, so you are on the hook for the full cost.
That is erroneous info. A 2 yr contract means you’ve paid for your device upfront and the ownership is indeed yours. You do not have to wait 2 yrs to own your device that you’ve paid for initially. The poster of this comment, James, is correct i his understanding. You are on the hook for the plan over the course of the 2 yrs. You can BYOD from elsewhere (i.e.- sell/trade). I’ve changed devices on a 2 yr contract through multiple carriers, including Verizon. You are just not eligible for an upgrade purchase through the carrier. Norman, please don’t confuse the contract purchase with the monthly lease to own.
Spent quite a while searching online for this info about all the fees (phone price, activation fees, line access fees, data plan) so that I could do a comparison myself. Not only is all the info here, but you have already done the calculations. Thanks for making this straightforward!
This is what i just came up with when trying to figure out the old 2yr contract and upgrading to the new verizon plan as i was chatting with an agent.
I am thinking that i will let my contract run out… Switch to the $20 new plan fee automatically… Then purchase an unlocked phone and add it. I really dont mind if its not an iPhone. I am not paying thousands of dollars for any phone.
Jennifer: Hi! How can I help you today?
You: With the new plan and upgrading my device, when the device is paid off am i contracted to return the phone undamaged?
You: Say i pay off the phone… Am i ever obligated to return it back to verizon in working condition?
Jennifer: Welcome to Verizon Wireless Sales chat!
Jennifer: If you pay the buyout amount, you’re not required to return the phone.
You: Is the buyout amount seperate from paying retail price for the phone?
Jennifer: If you want to trade in the phone for a bill credit,
Jennifer: It’s the remaining amount you owe from the retail price.
You: Ok so say i pay full retail price for a phone right now and upgrade to the new plan… The phone is mine. I get the plan at discount price of $10 a month?
Jennifer has left the chat
You are being transferred, please hold…
You are now chatting with AMBER
You: At any time after that i can upgrade for a new phone?
You: Hello?
AMBER: Hello! My name is Amber, I can definitely take a look
at your device payment plan and upgrade options for you! Can I start with your name please?
You: Steve
AMBER: Hi Steve, do with device payment, you would be paying the monthly amount, you can pay off the device at any time and that device is yours, once the device is paid off, you can freely upgrade at any time.
You: Ok so what if i have a device i purchsed seperate from verizon, an unlocked phone, and i want to switch to the new plan with tjat?
AMBER: You would be able to do so, with a device now from Verizon, you would not be paying the device payment nor would you be in contract on the New Verizon Plan.
AMBER: *not
You: Ok
You: So what would the line access fee be for me if i buy a new phone and pay full retail price immediately
AMBER: The line access fee would be $20.00, on the New Verizon plan, it is $20.00 no matter what unless you currently have an active contract which it would then be $40.00 until that contract ends.
You: Ok so my contract is up for ——number?
AMBER: I am showing that the contract on that line ends on 11/24/2016
You: I beleive my contract is up for the —–line. Can i cancel that please?
AMBER: Which line is that connected to?
You: What happens when the contract is up? I go to the $20 line access fee then?
AMBER: Yes, the line access fee then goes to $20.00 once the contract ends.
You: ——–
You: That is the line i want to cancel
AMBER: Looking at that line, I am seeing that it is still in contract until 11/24/2016, there would be an early termination fee of $155.00 if we disconnect that line.
You: Ok so then i will wait it out to cancel
I still dont know what happened to Jennifer in the mix of things!