Verizon Launches Edge Program, Allows Smartphone Upgrades With Low Monthly Payment

edge

Following in the footsteps of T-Mobile’s JUMP and AT&T Next device upgrade plans, Verizon has announced its Edge program, which will allow customers to upgrade their devices more frequently provided they pay a little extra each month. Edge allows customers the chance to purchase a new phone with no down payment, and fairly low monthly rates. Customers must be in good financial standing and pay the activation fee as well as the first month’s payment.

Here are some of the prices you’ll pay for top-tier phones:

  • DROID MAXX – $27.15 per month ($299 on-contract)
  • HTC One – $25.22 per month ($199 on-contract)
  • DROID ULTRA – $25.22 per month ($199 on-contract)
  • Galaxy S4 – $25.22 per month ($199 on-contract)
  • DROID Mini – $18.97 per month ($99 on-contract)

While Verizon’s Edge plan isn’t anything spectacular compared to T-Mobile’s JUMP program, at least it does add more options for customers who are looking to get their hands on the new Verizon exclusive DROID phones.

There’s quite a bit to Verizon’s Edge plan, check out the details below.

Verizon Edge FAQs

General Information

What is Verizon Edge?

Verizon Edge is a program that lets you pay for your phone over 24 months rather than paying for it all upfront. You only need to pay the first month’s installment at the time of purchase. You’ll then make a monthly payment until your phone is paid off completely.

After six months, if you’ve paid for at least 50% of the phone, you’ll have the option to Edge Up to a new one without any upgrade fees.

To be eligible for the Edge Up option, the Edge phone being returned must be in good working condition and have no significant damage, as determined by Verizon Wireless.

What are the benefits of Verizon Edge?

With Verizon Edge, you can:

  • Purchase a new phone with a low monthly payment
  • Enjoy the latest technology available by upgrading your phone more frequently
  • Sign a month-to-month agreement instead of a long-term contract
  • Upgrade without additional fees or finance charges

Who is eligible for Verizon Edge?

To be eligible for Verizon Edge, existing customers must meet the following requirements:

  • Six months of good payment history
  • Eligible for an upgrade

Customers with accounts less than six months will need to go through an internal e-credit check.

To be eligible for Verizon Edge, new customers must pass a credit check.

Prepaid accounts aren’t currently eligible for Verizon Edge.

What devices are eligible for Verizon Edge?

All Verizon Wireless smartphones and basic phones are eligible for Verizon Edge. Other devices, such as tablets and mobile hotspots, aren’t eligible at this time.

How much does Verizon Edge cost?

You make a device payment each month which appears on your bill. There’s no finance fee or upgrade fee to join the program.

Can I add insurance to a Verizon Edge phone?

Yes. You can purchase insurance and are encouraged to do so to protect against loss or damage.

Is there an activation fee for new customers who sign up for Verizon Edge?

Yes. The activation fee policy applies to all new customers, even those signing up for Verizon Edge.

I’m an existing Verizon Wireless customer under a service agreement. Can I participate in the Verizon Edge program?

Yes, you can participate in the Verizon Edge program provided you are upgrade eligible and enter a Verizon Edge Agreement.

Is the Verizon Edge program available for prepaid accounts?

No. Prepaid accounts aren’t currently eligible for Verizon Edge.

Contract and Payment Plan

Does the Verizon Edge program require a contract?

Yes, you must have a service agreement at the time you enter your 24-month Verizon Edge Agreement. However, a long-term service agreement isn’t required.

Can I pay more than my scheduled monthly Verizon Edge installment?

No, unless you are either seeking to Edge Up to a new device, which requires that you pay at least 50% of the device following the initial six months of the Verizon Edge Agreement, or you are seeking to pay off 100% of your Verizon Edge installment agreement, which you may do at any time.

How can I view the remaining balance of my Verizon Edge phone?

The remaining balance for your Verizon Edge phone will be listed on your bill, which is also available in My Verizon at https://myaccount.verizonwireless.com/clp/login?redirect=/vzw/accountholder/mybill/BillingSummary.action.

Note: You won’t have the option to pay additional amounts beyond your monthly payment toward your outstanding Edge balance, unless you’re exercising the Edge Up option or paying off 100% of the balance.

If my Verizon Edge phone is lost, stolen or damaged, will I still need to make my monthly payments?

Yes. You’ll continue to be responsible for your monthly payments under your Verizon Edge contract. We encourage you to sign up for insurance to protect your Verizon Edge phone.

If I voluntarily suspend service to my phone, am I still required to make my monthly Verizon Edge payments?

Yes. If you voluntarily suspend service to your phone (with or without billing), you’ll still need to make your monthly payments under your Verizon Edge contract.

Note: If your line is suspended under our military service policy, you will not be billed Verizon Edge payments during the military suspension (limit for military suspend is 3 years and 90 days) and your payments will resume where they left off upon your return from military service.

Edge Up and Returns

What is the Edge Up option under Verizon Edge?

The Edge Up option allows you to turn in your existing Edge phone and upgrade to a new one without an upgrade fee. You must meet the other Edge Up eligibility requirements in the Verizon Edge Agreement to use this option.

What are the eligibility requirements to Edge Up with Verizon Edge?

To be eligible to Edge Up, you must:

  • Have had your Edge phone for at least six months
  • Have paid at least 50% of the Edge phone
  • Return the Edge phone in good working condition with no significant damage, as determined by Verizon Wireless
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  • What types of replacement phones will be accepted when I seek to Edge Up?

When you Edge Up to a new Edge device, you must provide to Verizon Wireless one of the following in good working condition and without significant damage, as determined by Verizon Wireless:

  • The original phone purchased under your Verizon Edge Agreement
  • An authorized replacement from a valid Verizon Wireless channel (e.g., Certified Like-New Replacement, AppleCare® or a Verizon Wireless authorized insurance replacement phone)

Apple and AppleCare are registered trademarks of Apple Inc.

Is a Verizon Edge phone subject to Verizon’s Return and Exchange Policy and a 1-year warranty?

Yes. Verizon Edge phones are covered by these policies. Learn more about Verizon’s Return Policy.

If I return my Verizon Edge phone under the Return and Exchange Policy, will I have to pay a restocking fee?

Yes. The restocking fee of $35 applies to all phone returns and exchanges, including Verizon Edge phones.

Note: There is no restocking fee if you turn in your phone under the Edge Up option.

I ordered a new phone using the Edge Up option less than 14 days ago (within the Return and Exchange Policy), but I’ve decided I want to keep my original phone instead. Can I continue making payments towards the original phone under my old Edge Agreement?

No. Once you exercise the Edge Up option, your old Verizon Edge Agreement is terminated, and you are responsible for returning your old Edge phone in good working condition and without significant damage within 14 days of your receipt of your new device.

I am eligible to Edge Up, but I’d rather upgrade my phone under a long-term service agreement rather than a Verizon Edge Agreement. Can I sign up for a long-term service contract to get a new device if I continue to make my monthly Edge payments?

No. If you’re currently under a Verizon Edge agreement, you can’t also sign a long-term service contract. You must first pay off the remaining balance of your Verizon Edge phone, either in full or according to the scheduled monthly installments. Then, you can purchase a new device under a long-term service agreement.

I paid off 100% of my Edge phone. Can I trade it in and use the trade-in value toward the cost of a new phone under a new Verizon Edge Agreement?

Yes. You’ll receive the value for the trade, and you can use the balance to make the first payment of your new phone. However, you may not use the trade-in value to reduce the retail price of the new Edge phone.

[Via: Droid Life, Verizon]

  • Snidely

    This is a tax for people bad at math. Just save up the $199. With these plans, you pay 50% of the phone (usually $300) and don’t get to keep the phone! With the normal plan, you can sell your phone at probably get at least $50 for it.

    • DJA

      you might be the one bad at math. You only need to pay for 6 months, which is 25% of the price of the phone (cost is spread out over 24 months). Still not a deal I’d likely do, but it’s not terrible.

      • Dave

        After 6 months, with at least 50% of your phone’s price paid off,you’re eligible for upgrades.

        From VZ’s website…

  • Erk

    You have to be eligible for upgrade? To pay full retail price for a phone I need to be eligible for upgrade? That doesn’t make sense…

  • Rene Verduzco

    It doesn’t make any sense & I making an attempt to sue them because they were making me feel dumb cause I don’t understand what i was reading but the question was How can any existing customer participate into this program when the ability to upgrade is at the end of your contract which automatically voids you into participating.

    • shaking my head

      You’re trying to sue them because you don’t understand their plan? Only in Allmerica… Smh….

  • steve

    you know, i wait and get it for the 2 year price, then i sell my old phone, last one o sold i make $150 over the sale price i paid for,
    bought a g4 for $199 sold a razr maxx hd on ebay for $380 before their fees.

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