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Verizon to Introduce “VZ Edge” Upgrade Plan, Upgrade to New Phones Once 50% of Previous is Paid Off

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Back in April, after extending upgrade periods to a full 24 months, Verizon introduced a new device payment that would allow customers to upgrade phones by purchasing them at full prices with the payments spread out over a 12-month period. According to sources of ours, Verizon will introduce a new upgrade initiative on August 25 called “VZ Edge” that will allow customers to upgrade their phones much more frequently to “stay on the leading edge of technology.”¬†

In an training slide detailing the new plan, we can see that Verizon is offering up VZ Edge as a way for customers to avoid signing contracts and upgrade fees, while remaining on the “best network” and with the latest devices. All of the specifics are not yet available, but this slide does mention that if customers are on the previously mentioned monthly payment plan, that they can upgrade to a new device at any time once they have paid off 50% of their current phone. The document doesn’t say specifically, but we would assume that this new VZ Edge plan is for those who participate in the device payment plan only.

While the pricing of Verizon’s plans may not be the cheapest in the land, this is at least a move in the right direction in terms of offering customers upgrade options, especially after they raised upgrade periods to 24 months. With this new VZ Edge plan, you could upgrade quite often and still never have to sign a new contract. Isn’t that what you all want?

Note: ¬†We’re seeing early comments wonder about keeping unlimited data. While we don’t have 100% confirmation, we do know that Verizon lets you keep unlimited data if you participate in the current device payment plan. Since VZ Edge appears to be an extension of that plan, I would assume this would also allow you to keep your unlimited. The slide specifically mentions “no service contract,” which is like buying a phone at full retail or through the payment plan.

Update:  Verizon has confirmed with the announcement of Edge that you cannot keep unlimited data.

In a way, VZ Edge is like T-Mobile’s new JUMP! program, which allows their customers to upgrade twice per 12 months. In theory though, one could upgrade more often through Verizon’s new program, however, there is going to be a difference in the voice/text/data plan pricing from carrier to carrier.

verizon plan

We’ll see what other details we can dig up, but from what we can tell, this new upgrade plan will go live on August 25.

  • jcal1

    I really wish that, instead of all these plans and gimmicks, the phone companies would price the phones with “reasonable” mark-up – and then allow people to buy them – no contracts, no extra fees.

    These companies are making money at both ends. They make money on the phone side and they make money on the carrier side. They act like it’s an imposition to sell you a discounted phone. If it is, then why can’t they get real about it? There are so many competing phones these days – it must be incredibly profitable to make and sell them.

  • Michael E Zehr

    Okay so a lot of negative comments about Verizon, I get that, you can’t please everyone. Verizon is the ONLY provider that I know of that no matter where I go I get a good signal, my dad has AT&T and when he comes to visit me his phone won’t work in our area, even on roaming. So say all you want about Verizon but when it comes to their service I am 100% content with my plan and the customer service that I receive. I have been with quite a few other providers including Sprint, Cingular which became AT&T, AT&T, and a couple of local providers which eventually got eaten up by the bigger companies. I will admit that Verizon charges more than other providers for their plans but I believe you get what you pay for, at least that’s my opinion.

  • Verizon13

    Just bring back unlimited data so I don’t have to deal with sprint

  • So basically this is a 12 month lease agreement with the option to buy or trade-in at the end.

  • tommariner

    I had to give up my unlimited data to get the S4. Frankly, I never use more than a tiny fraction, but that “unlimited” and feeling that I was special to Verizon has helped keep me there. But now that AT&T has their “upgrade every year” thing and offers the same phones, if i am not that special to Verizon any more, maybe they are not that special to me either!

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  • Joe Martinson

    This really is just a bonus for people looking to keep unlimited data and have to pay full price or do the 12 month payment plan anyways. Or those who lose/break a phone and can’t find a suitable used one. Anyone not in those groups wouldn’t be smart to do this. T-Mobile’s Jump plan is much better since it is part of the insurance many pay for anyways.

  • nathan1465

    This is a trap. You are basically paying full price for the device. even if you only pay 50% you have to trade in the current device which they will resell to cover the other 50% just as you could do without Verizon. your not getting any deal.

    • joejoe5709

      True. Less hassle, I suppose?

  • SUMmaro400ex

    What a devious way to get people to effectively pay twice for their phone. All the plans have the subsidy built into the contract which is why the ETF lessens over time. As the subsidy is paid back via expensive monthly service rates, Verizon gets the money back they fronted for your phone. Now they are offering the same expensive plans (with the built in subsidy repayment) plus a financing charge for the phone on top of it. Paying twice for the same phone. No wonder they allow you to trade it in after paying back 50% since you really paid back all of it anyway, just now you give it back to them for free.

  • Kanaga Deepan N

    Big Red customers should thank Small-Pink…

  • cb2000a

    Contract mobile phone plans will be a thing of the past soon. We will see lots of cheaper and quite adequate phones available very soon. You will buy your phone when you want to and choose which phone company is best suited for you.

  • noname

    Device payment plan? When I got my VZW GS3, I paid something resembling retail price for it (i.e. the subsidized price they put in the ads). My monthly cost is just for the usage of the plan, nothing extra for the phone.

    So, I would have to be on a payment plan first, for a phone I already own, in order to join this new plan. I think. Sure, I’d love to upgrade to an S4 or whenever the next new thing comes out but …

    Yes, I know VZW costs more. You know what, it works deep in the building where I work. Nobody else does. That matters to me. I am fine paying extra to have superior service.

  • UMA_Fan

    Verizon is really shooting themselves in the foot by letting them be compared to Tmobile.

    First of all your phone is paid off with Tmobile by simply bringing it back.

    Tmobile ‘s new plans are discounted from the old plans where you get a subsidized phone. This compensates you from having to pay full price for it.

    If you are okay with continually paying your interest free phone payment on your bill you pay less for phones twice a year that Verizon customers can only get once every 24 months.

    If Verizon isn’t discounting your plan for making you pay full price on a phone then they are asanine.

  • Brandon Golway

    Just enrolled in Jump! today!

  • Bobd

    I would love to been in that conference room when the subject of keeping UL data came up:> “ARE you ffn kidding me!?”..

  • SwampyNutz

    I could care less about phone upgrades, especially after having crap for 3g service. Oh and supposedly having 4g service, according to an email I received from them 2 months ago. I’ve had it with phone companies, especially Verizon.

    • Diablo81588

      You must live in the hills of Arkansas.