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How much to cancel a one line of a plan?

AZtoyo

Hello,

I am curious what the cost of canceling a line on a plan would be. I have always been on my parents plan because it was so cheap for me to be on their plan that I couldn't justify opening my own individual plan. However, I am now an employee of a business that offers a discounted rate with Verizon that is appealing so I am considering canceling my line on my parents account to open my own and get the iPhone 6. I know there is a flat rate that is discounted based on what you have gone through your contract- I am a smartphone user who has gone exactly through one year of my contract. Thank you.

Comments

SuzyQ

You don't need to cancel - just split your line off of your parents plan to your own account (assumption of liability); you MAY have to pay a deposit based on your credit history (or lack of history), you will get it back after one year of on time payments. You will continue with whatever terms you have on your contract now, but on your own plan. If you still have a year left, then you wouldn't be able to get the iPhone 6 just yet.

AZtoyo

Would I then be able to be eligible for the edge program to get the phone when it releases? The main reasons I am looking to do this is for the cheaper price along with replacing my current phone as it is malfunctioning.

AZtoyo

Also, if I weren't to be eligible for the edge program, what charges would be incurred with canceling that line and opening my own to get the upgrade price?

SuzyQ

Depending on your current phone, the cancellation (ETF) would be $230 or $115 (smartphone or basic phone) with one year of contract left. If you, cancel, and then open a new account in your own name, you may be required to pay a deposit up to $400. And you would not be able to keep your current phone number.

EDGE is not necessarily "cheaper" - you are paying full price for the phone, but can trade it in (if it's in pristine condition) on something new once you've paid at least 50% of it off - or continue until you do pay it off and it's yours, but you will have paid full price for it.

To get the real discounted phones, you need to agree to a two year contract, and pay the discounted price up front.

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