Following in the footsteps of T-Mobile and AT&T, Verizon took off the wraps on its own early upgrade and phone financing plans. Verizon’s new Edge plan will launch on August 25 and will allow customers to upgrade their phone more frequently than the two years offered by current plans.
With Edge, customers agree to pay the full retail price of a phone and Verizon will spread out the cost of the phone over 24 months. Each month, you will pay for your monthly service and pay a fee for your phone. Customers can upgrade anytime after the six-month mark, as long as they have paid off 50 percent of their phone. Customers can then turn in their old phone for a new one and start the installments all over again. Unlike AT&T and T-Mobile, Verizon is reportedly not charging a finance charge, a program fee or an upgrade fee for the plan.
[Via Verizon Wireless]