Shortly after T-Mobile (JUMP!) and AT&T (Next) revealed new upgrade-often, monthly payment plans, Verizon joined the party with Edge. We’ve already compared all three, essentially coming to the conclusion that the options from AT&T and Verizon are nothing short of rip-offs that double charge you for the same device, while T-Mobile’s is at least a somewhat fair choice. But no matter what we think, Edge (which is now live) is an option for those who want to upgrade often and also do not want to have to pay an upfront down payment. Edge will allow customers in good standing the chance to get a phone at a relatively low monthly price and zero down, other than the activation fee and first month’s payment.
Along with the go-live of Verizon Edge, we’re also expecting a special to rollout to unlimited data customers called Verizon Max. Max is an option that would allow unlimited customers a chance to join the Edge program, while still maintaining a sizable allotment of monthly data. We’re talking package deals that start at 6GB of data for $30, an amount that would run a Share Everything customer at least $80. The deal is not being advertised on Verizon’s site at this time, so we’re assuming it’ll only be presented to customers with unlimited data. (Update: It’s live.)
So with Edge now live, we thought we should point out at least a few of the important pieces of it. We knew most of it previously, but now with the official FAQ live, we know it all.
NOTE: To be clear, since there seems to be confusion – you cannot keep unlimited data and participate in Edge. Verizon has introduced Verizon Max as the option for unlimited data users who want to go the monthly payment and early upgrade route. We have gone back to clarify that in previous posts on Edge.
Here are some of the most important FAQ to be aware of:
1. 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
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
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)