Edge program payments not possible

[Cwey55]

Does anyone know exactly why Verizon does not allow us to make a random payment toward the balance of an Edge program device? (outside of the monthly payment, but short of a payoff)

I asked a friend who is a sales rep today and he literally told me he has asked the same question.

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[dpham00]

No idea, but considering that it is a 0% interest loan, might as well keep it for the term. If you rant to pay early, just put it into your savings account so that you can earn interest

Sent from my Verizon Samsung Galaxy Note 5

 

[Almeuit]

I never got that either. Paying it off early really shouldn't matter. I am not sure if AT&T customer's can put "extra" payments towards it -- I know T-Mobile allows it. Sprint may as well.

 

[Cwey55]

No idea, but considering that it is a 0% interest loan, might as well keep it for the term. If you rant to pay early, just put it into your savings account so that you can earn interest

Sent from my Verizon Samsung Galaxy Note 5

Another Verizon rep via their chat service told me the same thing, to just set aside what I planned to pay towards it until I save up enough to pay it off.

We all know what happens with savings though, other things come up and our savings go buh bye.

I know one thing between my other thread about wanting to buy a phone without adding a line and this edge program for my tablet I've learned never to enter into another contract with this company ever again, they have the best network in my area so I won't be leaving them but definitely never again on contract!!!

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[dpham00]

Another Verizon rep via their chat service told me the same thing, to just set aside what I planned to pay towards it until I save up enough to pay it off.

We all know what happens with savings though, other things come up and our savings go buh bye.

I know one thing between my other thread about wanting to buy a phone without adding a line and this edge program for my tablet I've learned never to enter into another contract with this company ever again, they have the best network in my area so I won't be leaving them but definitely never again on contract!!!

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I don't blame you. Verizon has horrible customer service and gave policies. But for me, since my plan didn't offer a discount for off contract, it makes sense financially to go with contracts. In addition, Verizon offers the best network where I need it at a price much lower than the competition for my needs on my legacy plan (but their current plans are priced higher).

Sent from my Verizon Samsung Galaxy Note 5

 

[oscarnyc]

The only thing I can guess is that it would be too complicated for their billing systems to accurately track. And given the mayhem around billing evert time a change is made on my account I can imagine that to be the case.

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[dpham00]

The only thing I can guess is that it would be too complicated for their billing systems to accurately track. And given the mayhem around billing evert time a change is made on my account I can imagine that to be the case.

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I can prepay my mortgage... All the need to do is to let you prepay but maintain current payments. So it would just shorten the duration.

Imo, the reason why they don't want you to prepay is so that they can keep you on the device payment plan contract for 2 years. Less likely to leave when you see a substantial balance.



Sent from my Verizon Samsung Galaxy Note 5

 

[oscarnyc]

I can prepay my mortgage... All the need to do is to let you prepay but maintain current payments. So it would just shorten the duration.

Imo, the reason why they don't want you to prepay is so that they can keep you on the device payment plan contract for 2 years. Less likely to leave when you see a substantial balance.



Sent from my Verizon Samsung Galaxy Note 5

If course it's possible, but given the multitude of different contracts types and such they may just find that it's too difficult to code for it. But yes, I agree that keeping you on for longer is good for them. Though of course they do offer the option of paying down the whole balance at once to end your commitment

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[Cwey55]

The only thing I could think of is where it is an LTE tablet they are making money on the line access fee as long as it is on contract.

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[dpham00]

If course it's possible, but given the multitude of different contracts types and such they may just find that it's too difficult to code for it. But yes, I agree that keeping you on for longer is good for them. Though of course they do offer the option of paying down the whole balance at once to end your commitment

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A method that most people won't use. Just like on contract, most won't pay etf...it is a deterrent.

Sent from my Verizon Samsung Galaxy Note 5

 

[diesteldorf]

I never got that either. Paying it off early really shouldn't matter. I am not sure if AT&T customer's can put "extra" payments towards it -- I know T-Mobile allows it. Sprint may as well.

Sprint allows early payments. With regards to Verizon, I am not defending them, but it's beneficial to them, in my opinion, if they don't allow it.

Once your device payment is gone, it's much easier to leave. There are people that will stay with a carrier, in part, because they can't afford to make a large balloon payment to pay off the device.

TMO was great to me, but their network coverage was weaker than what I needed.

However, it was nice that I could make extra payments. The day before I received my $350 Visa card, to reimburse me for my Verizon ETF, I had paid my device payment plan down to $350 exactly.

When I received the card, guess what I used it for....