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Verizon Tweaks EDGE Device Payment Plan – Now 20 Payments, Plus 60% Paid off to Upgrade

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Verizon tweaked their EDGE plan beginning June 1 to take the number of monthly payments for a device from 24 months down to 20 months. They also changed the percentage you need to have paid off before you can upgrade, raising the amount from 50% to 60%. These moves bring them close in line with AT&T’s Next plan, which uses a 20-month/60% ratio as well. 

Previously, if you purchased a new phone from Verizon and signed up for EDGE, you were asked to make 24 equal monthly payments, with the option to upgrade after you had participated in the program for 30 days and had paid 50% off of the phone. With the number of payments dropping to 20 months, monthly payments will now likely be more expensive than they were previously. With the percentage for upgrade also being raised, you now have to fork out more cash to get a new phone.

If you were a part of EDGE before June 1, I would imagine that Verizon has to honor your 24-month, 50% deal.

verizon edge changes

Via:  Verizon
Cheers Cameron and Jeff!
  • http://twitter.com/jdrch jdrch

    Sucks for new users. I used to be anti-Edge myself, but with phone warranties being only 12 months and phones in general becoming nearly uselessly slow after 2+ years of ownership, I decided to hop on.

  • j_della9

    So in other words they took a rip off and made it even more of a rip off?

  • Hector De Jesus

    “Note to customers with Edge agreements signed prior to 6/1/14: You’ll keep your 24-month installment contract, and will have the option to Edge Up to a new phone after paying 50% of the original phone, and returning the original phone to us in good working condition.”

    So, Verizon is at least honoring the original agreements.

  • Dave

    Well it’s about time! The previous plan was darn near irresistible…. Haha.

  • Robert Macri

    So they made a horrible plan even worse?

    • michael arazan

      That’s Verizon, offers one thing, let’s customers get used to it, and then screws the customers and change the rules so they get more for less. Just like unlimited.

      Carriers need heavier regulation, instead of just making up the rules as they go along for their own benefit.

    • Apostrafee

      Imagine having to sell it

      • AD of customer service

        It’s actually a pretty easy sell.

        • Apostrafee

          I suppose if you aren’t upfront. But now making it 20 months it’s harder. People come in complaining about how high their bill is then I’m supposed to tell them they should increase it? Not to mention if they’re eligible for early EDGE the restrictions make it more difficult. For some, it’s an easy sell, but not for most.

  • Jeffrey Tarman

    I’m currently on EDGE as of last Nov. I was worth it when my Razr Maxx died. I would switch the family to T-Mo if they had better coverage.

  • Ben Murphy

    Evil bastards.

  • http://www.twitter.com/macpro88 Jacob

    Will raise by a few bucks depending on the phone. For a $599.99 phone, 20 months = $30.00/month, and 24 months = $25.00/month, also, the first month’s payment is due when you sign up plus tax, so now $30 + tax is due at activation with 19 months left. 60% means you now have to pay off ~$360 before you can upgrade again.

    Is it really worth the extra money to upgrade whenever you want versus the traditional 2 year subsidized plan? Granted its cheaper than buying the phone outright at full retail, but eventually in the long run you pay full price for the phone and couple others depending on how often you upgrade.

    • Ryan

      Actually with vzw the first payment isn’t due until your first bill. You just pay taxes

      • http://www.twitter.com/macpro88 Jacob

        You sure? Cause I paid both for both of my lines when I went to Edge. First month + taxes for both of my lines.

        • Evan Knofsky

          I used Edge when it was first available and have since Edged Up twice. Initially I had no payment and each time I Edged Up the only cost I had to pay was the cost of the device so I could keep it. The up front payment I believe might be depending on your payment history or credit history.

          • Jeff Stewart

            I work at a Verizon Store and I will tell you that we only require taxes. If a down payment is required it is because of credit. Now note that each store can add additional fees and rules to this at their own discretion but the base rules are is taxes up front and the rest on the bill.

      • j_della9

        Not true, I did it to get an iPhone 5s last year and had to pay the first month up front.

        • Vzw guru

          This recently changed.

  • Sam

    EDGE = Sucker

    So they don’t subside anything but the plan still cost the same. Sounds like Win for Verizon only.

    • Josh Holtrust

      I think Edge gets you a $15 bill credit for data plans under 10gb, or $25 if you have 10gb or higher data.

      • compujas

        It’s actually only $10 off under 10gb. And the real kicker is that after 24/20 months, when you’re done paying off your phone, you lose that discount I think. So if you’re not going to upgrade constantly, Edge is pointless. You have to do the math for your own situation, but there are few cases where it makes sense to go with Edge.

        • g___nex

          You actually keep that $10 or $25 discount as long as you’re not in contract.

          • compujas

            Really? I was obviously not aware of that. Do they say that anywhere? Not that I don’t trust you, but with Verizon, I need things in writing.

          • FelisLachesis

            No contract. No problem. Verizon Wireless is giving customers the ability to add a smartphone that is not currently under contract to a MORE Everything plan, beginning April 17.

            Starting this Thursday, existing customers who are on month-to-month contracts can move to a MORE Everything plan to experience savings immediately. Customers who choose plans with data allowances of 8 GB or below can add a smartphone for $30, a savings of $10, and customers who choose plans with data allowances of 10 GB and above can add a smartphone for $15, a savings of $25.

            http://www.verizonwireless.com/news/article/2014/04/more-everything-savings-coming.html

          • JoshHenry

            Im already month to month on the more everything plan, and the only thing Im getting more of is overage charges.

        • mustbepbs

          Yeah, like the Moto X. It was the same price as it was from Moto, so it was a no brainer for me and my wife.

  • Ncrypt3d

    Classic vzw bait & switch.

    • Dan DeMarco

      Previous subscribers are not automatically put into the new 20-month, 60% Edge.

      • Ncrypt3d

        True for the current contract but what about their NEXT upgrade. FAQ isn’t really clear on that. And in any event, its not a consumer friendly change. Is what it is I suppose.

  • Bryan Mills

    Go home Verizon. You’re drunk. Come back when you can match AT&T prices.

    • Johnny Steele

      Well, with old EDGE, I am pretty sure that is what they were ‘trying’ to do….but….now….Ugh.

      • Bryan Mills

        Even without Edge, 10gb of Data on AT&T is almost $60-$70 cheaper than Verizon

        • Johnny Steele

          On AT&T?? I will have to stop at my local store and see what those plans are. VZW will need to step it up instead of doing this nonsense!

          • http://tommydaniel.com Tommy Thompson

            $100 is the base price with AT&T for 10GBs. And then $15 for each device.

          • Josh Holtrust

            Jk

          • http://tommydaniel.com Tommy Thompson

            Yup. Next is $15, 2 yr commitment is $40, and your own phone is $25.

        • Randy

          Yeah with not as good coverage though

        • Dan DeMarco

          Where do you people get your numbers? Verizon’s 10gb is $100, with 2-yr lines being $40, no contract and Edge being $15.