I am new to utilizing Verizon device payment plans and credits. My understanding is utilizing current promotions I can spread an iPhone payment out over 36m and will receive a trade in credit over roughly the same time period. My question is after activation am I free to do whatever I want with that device (give to another person on the family plan, sell to a family member on a different plan, etc) and still not lose any of the credits? From reading the terms and conditions it seems like all that really matters is the line stays active so for example if I swap the phone out for a different one in a year and sell / give the phone away I will still be “on the hook for” continuing to pay off the old phone for the remaining 24m but will still receive my trade in credits even though the original phone is now out of my possession and a new one took its place on the line? Clarity here would be appreciated so I understand if I am basically locking myself to the line of service for the three year term vs stuck with that particular device. Thanks!
As long as the device payment agreement remains active for the 36 months (no device buyout, or disconnect of the line), credit would continue to apply toward it. The device attached to the device agreement would not need to remain active on the associated line during this time. *Sarah
Thanks for the quick response. So if I understand right I just have to keep the line of service active and not fully pay off the device to Verizon. Otherwise I could do whatever I want with the phone (give away, sell, etc) to any third party and it wouldn’t be locked out or anything for their use. I could then also activate a different / newer device procured elsewhere on the same line without penalty and would just continue to be paying off the older device (that I no longer own) until the term is completed and continue to receive the trade in credits. Is that right?
That's correct. The device itself, however, would need to be active on the account at least momentarily. Also, the device would only be compatible with Verizon Wireless services for the first 60 days after initial activation. After 60 days, it would then automatically unlock for use with another provider. *Sarah
Perfect. I’m sure I would keep the device at least that long, but appreciate the additional heads up. Glad to confirm the payments and credits are tied to the line not device such that there is flexibility with being able to swap it out for something else down the road if I would prefer (while staying on Verizon or course 🙂 ).