It has been some time since the announcement of Verizon Edge, a new program that allows subscribers to upgrade more than twice a year. To explain it briefly, this allows you to upgrade to a new smartphone by way of paying the device’s full MSRP over 24 months. The one requirement is that you pay at least 50% of the smartphone’s price as this will allow you to upgrade as often as you like.
The lovely thing about this offer from Verizon is that there are no additional charges of financing costs. Well, the Verizon is eventually here and to give you further details, we have a list of key FAQ which Verizon has supplied.
- What is Verizon Edge?
It is a program that allows you to pay for your phone over 24 months instead of paying the full price up front. All you have to pay at the time of purchase is the first installment. Thereafter, you continue with the monthly installment until your phone is paid completely.
After six months, you will have the option to Edge Up to a new one without any upgrade fees, provided that you have paid at least 50% of the cost of the phone.
For eligibility of this Edge Up option, the Edge phone that is being returned needs to be in good working order and have no obvious damage. Verizon Wireless does this check
- What are the benefits of Verizon Edge?
- Buy a new phone with a low monthly payment
- Have the latest technology when you upgrade your phone more often
- Have a month-to-month contract instead of a long-term agreement
- No additional charges or finance costs when you upgrade
- Who qualifies for the Verizon Edge?
In order to be eligible for Verizon Edge, these are the requirements existing clients must meet:
- Good payment history of at least six months
- Must be entitled to an upgrade
E-credit checks will be conducted on customers with accounts younger than six months. All new customers must pass a credit check in order to qualify for Verizon Edge. Currently prepaid accounts are not eligible for Verizon Edge.
- What devices are eligible for Verizon Edge?
All Verizon Wireless smartphones and basic phones are eligible for Verizon Edge. At this point in time, devices such as tablets and mobile hotspots are not yet eligible.
- How much does Verizon Edge cost?
There is absolutely no finance costs or upgrade charges to join. All you have to do is make your device payment every amount as per your bill.
- Can insurance be added to a Verizon Edge phone?
Yes, you may and in fact, we encourage that you insure your phone against damage or loss.
- Is there an activation fee for new customers who sign up for Verizon Edge?
Yes, this activation fee policy is applicable to all new clients, including those signing up for Verizon Edge.
- I am an existing Verizon Wireless client under a service agreement. Am I able to participate in this program?
Yes you may, on condition that you are upgrade eligible and enter a Verizon Edge Agreement.
- Is the Verizon Edge program available to your prepaid accounts?
No, prepaid accounts are not presently able to enjoy this Verizon Edge program.
“Beyond all of that, Verizon has confirmed that you will need a service agreement to start, though going with Edge from here on out will put you on a month-to-month basis. You are not allowed to pay more than your monthly installment unless the following two conditions apply:
- You want to upgrade by using VZ Edge and are willing to off 50% of the device’s cost, or
- You would like to pay the balance of the phone off in full
There is also the issue of returns, refunds and insurance to consider. All in all you need to weigh up the options before you decide to take advantage of this offer. Compare this offer to the AT&T Next and the T-Mobile JUMP offers on our site.