anon(9733642)
Active member
- Dec 6, 2015
- 39
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Again, depends on the trade value. I traded in an iPhone 7 128 GB one month old for equal value of the Pixel. Totally different situation. The terms apply to that "per se". They are crediting me over 24 months to pay me off for the iPhone. The trade paid off the Pixel. I have it in writing from Verizon email PDF and letter from headquarters in NY. If I pay off the the Pixel they basically are getting $650 twice. Once for my trade and once when I pay it off. My options are stay and keep keep getting credit, apply $650 to next device, port out and receive the overage in a check. The overage would be the unpaid credits, the number of months left multiplied by $27.Not according to their terms. From reading the terms and the different sites commenting on it, if you pay the device off, say after 1 year, you lose any bill credits going forward. So you'd only get half of the discount you would get had you kept on monthly payments throughout the 24 month period.
It's the same as it is with their trade ins. When I was going to trade in my old Galaxy S3 when they were running the promo to give you $200 for any trade in worth more than a dollar, you have to keep on monthly payments until it's paid off to get the full credit.
It's a sneaky way for Verizon to have 2 year contracts without calling them that. It's almost like a shell game. While they've eliminated 2 year contracts and ETFs for the most part, when you cancel, switch carriers, or pay off early, you lose the remaining monthly credits, which works out a lot like an ETF. The difference here is it's like you're paying an ETF even if you pay off the device early. In effect, this is actually worse than it was with 2 year contracts, because they didn't penalize you if you paid off your bill early.
I knew this before I ordered mine on BF, but that's one of the benefits of being the only techie in a share plan with 4 other people. I use their upgrades they have available, and they get my older devices at a steep discount. Since they just want a phone for calls, web browsing, and media consumption, it works out all around. So when a new device comes out, I don't have to worry about not paying off my line and losing the monthly credits. The only way it would be an issue would be if I switched carriers, and considering AT&T is the only other option in my area, and their signal footprint and costs are essentially the same, that probably won't happen.
Again this only works with an EQUAL trade, paying off, and porting for the most part.
And the reason it worked that way with a trade was because they were over valuing the trade. If you traded in $1 phone for $200, of course they took away the trade credit...they over paid you. If you give an equal device it's a wash.