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.
Cheers Cameron and Jeff!