Verizon is Ruining the Value of Edge Effective May 31st

[dgstorm]

Big Red giveth, and Big Red taketh away. We have reports from insider sources that Verizon is planning on changing the early upgrade options of their Edge program. Starting on May 31st, you will no longer be able to pay off your Edge program at the 75% amount, but will instead be required to pay the full amount. This basically kills off the Early Upgrade, because it's no different than simply buying a new phone and upgrading whenever you want.

Just as a reminder, the old Edge program would allow folks to get a new device early by paying off only 75% of the total price of your current device. This usually occurred at about 18 months, instead of the usual 24 months, which is how you gained extra value with the Edge program. Verizon claims they are wanting to simplify the program, but this almost useless.

The only advantage now is that you don't have to trade in the phone, because you have completely paid it off and it's yours. Also, with Edge you still get the lower line access fees, and no activation fee. Still, it basically seems like the Verizon Wireless execs are trying to slowly kill off the program. We will keep an eye out for an official announcement and share in this thread if/when that happens.

What are your thoughts on this policy shift from Verizon?

Thanks for the tip, anonymous!

*Update: Here's the official link from Verizon: Verizon Edge Making it Easier to Upgrade and Experience Verizon s 4G LTE Network

 

[LoneWolfArcher]

Not a fan even before the change. Maybe it worked for some people but to me it's like leasing a car. Constantly paying and never owning anything.

 

[droidprincess]

Seems to me that they are pushing for customers to just pay full retail for phones no questions asked...Are they are trying to get out of the contract business maybe??

sent from my fabulous Note 4♡

 

[jstafford1]

It looks like they'll either just go to a simple payment system or out right buy it up front. Kinda sucked. But maybe this will pave the way for no contracts?

 

[droidprincess]

I really think they are trying to eliminate contacts......which is not necessarily a bad thing.

sent from my fabulous Note 4♡

 

[jstafford1]

It would be simpler all around.

 

[droidprincess]

Indeed...

sent from my fabulous Note 4♡

 

[Amagine]

"Seems to me that they are pushing for customers to just pay full retail for phones no questions asked...Are they are trying to get out of the contract business maybe??"


If they are. They need to move toward a BYOD business model or offer a service discount upfront for those who purchase out right. Most countries other than the US have generally good, in many cases better network service, at rates much lower than stateside. However, in many cases you have to purchase the device outright. I would be fine with a BYOD model, if service costs was about half what it is now.

 

[Beardface]

Interesting that they're doing the right as the book of pale who bought in are coming due for their upgrades. Are they still honoring those plans? If not, thus is a classic bait and switch.

Verizon has really devolved into one of the scummier corporations in recent years. Sad to see because they were good back in the day and actually cared for their customers. Been looking for a reason to jump ship for a while and this might be it. After 15 years with Big Red, I'm meeting my breaking point.

 

[Amagine]

I imagine this would only affect new phone purchases.

 

[jackiescivic]

"Seems to me that they are pushing for customers to just pay full retail for phones no questions asked...Are they are trying to get out of the contract business maybe??"


If they are. They need to move toward a BYOD business model or offer a service discount upfront for those who purchase out right. Most countries other than the US have generally good, in many cases better network service, at rates much lower than stateside. However, in many cases you have to purchase the device outright. I would be fine with a BYOD model, if service costs was about half what it is now.

They do have a service discount for BYOD. The same amount as if you are on Edge.

Sent from my SM-N910V using Tapatalk

 

[droidprincess]

I love Big Red's service quality....I will most likely continue to accept their shenanigans.....

sent from my fabulous Note 4♡

 

[kodiak799]

Verizon said 2-3 years ago they ultimately want to get out of the subsidy business.

But this is more an inconvenience than a price hike. Before, you turn the phone in after 18 months when it's probably still worth about the remaining 25%.

Buy new and If you want to upgrade after 12-18 months, you just sell it for about the same net as under this program. The value of the program is still, for people who don't need to upgrade that much, that you no longer pay the "subsidy" for a 2+ year old phone.

 

[Mike.757]

At the 50% point, pay off the phone then take it and sell it on swappa. You'll make out better than sticking with the edge plan to the end of the term. You'd basically be financing your own edge program.

Something else to remember about the Edge plan is the discount you get for data.

 

[sst45jeff]

I think the point is that this plan was for people who could not afford to buy a phone outright so they could make payments. Lease program as others have said.
In my opinion bad way to go period.
You get the people who dont have money in the first place on this program and the default rate probably went way up so now they are doing away with it.