On October 16, Verizon has a few changes to introduce to its Edge monthly device payment plan and a couple for its MORE Everything plans. According to multiple sources, we are looking at a bump from 20 to 24 monthly payments on Edge, a higher percentage of the device needing pay-off before an upgrade can occur, and bigger per line discounts if on Edge. Verizon is also adjusting its single line plans, moving them back to their original $60 and $75 price points.
Below are the details.
Verizon EDGE changes:
- Number of payments moving from 20 months to 24 months
- Customers must pay off 75% of their current phone to upgrade (was 60% previously)
- Or customers can upgrade after 18 months, which ends up being 75% (was 12 months previously)
- 500MB to 8GB plans now receive a $15 per line discount with Edge (was $10 previously)
- 8GB and above plans still receive the $25 discount (no change)
A couple of items to think about with this change – 1) You now have to pay more off in order to upgrade, and; 2) Your monthly payment amounts will be reduced. If you liked upgrading more often, this isn’t great news. If you don’t upgrade often and want lower monthly payments, well, then this isn’t bad news.
MORE Everything changes:
- New plan – $20 500MB plan, with unlimited talk and text; $15/250MB overage; eligible for Edge discount
- $60 1GB plan, with unlimited talk and text; $15/500MB overage; includes hotspot; $15 Edge discount
- $75 2GB plan, with unlimited talk and text; $15/1GB overage; includes hotspot; $15 Edge discount
There you have it. Expect to see the changes on Thursday.