Verizon has now informed their customers that the billing date will be rolled back 3 days! This is what is called profiteering. Verizon will make countless millions of dollars at you're expense. If you wanted to move your billing date ahead 3 days they would charge you to do so.
I called Verizon @ 800-922-0204 to discuss this sleazy, unethical, lowlife procedure. The representative was totally unaware of this. Till I explained. So I informed her to make a notation on my account. That as soon as they do, that they cancel both iPhones, that I will be moving to another carrier.
It's about principle and morals. If they needed a price increase because of overhead, I'd gladly accept that. If you do the math on this within 10 billing cycles they will gain a full month of service payment. And they will not reimburse you, yet if you tried to move your billing date ahead they would prorate and charge you. Outrageous!
Aw that poor rep, that's not even the accurate definition of profiteering- 'seeking exorbitant profits, especially through the sale of scarce or rationed goods.'.
Verizon won't gain any actual profit from customer's with this change, as they're still paying the same exact amount for their agreed upon plan. I guess they'll get some payments made earlier than before for those that may have consistently waited to pay until the due date, but that also won't help raise more actual profit as they aren't increasing the amount due. Nor would it help revenue reporting as they report quarterly and yearly.
If my bill due date is moving from the 14th of each month to the 11th of each month going forward after 10 months or any amount of time still paid the same amount, and Verizon didn't make any more money from me than if the due date was still the 14th. Also, I usually don't wait until the due date to pay like many people. it's usually easier for me to submit the payment on my payday before it's due, so it's usually earlier anyway.
Good luck with your new provider though, unfortunately they all make changes such as this. AT&T most recently shortened their due date periods just like this just 2 years ago. T-Mobile did theirs in 2011, and Sprint did in 2005. Verizon actually has made that change the least in the past.
Hi deloused, thanks for your response and hope we get more with pro & con on this recent unethical profiteering.
I pay the bill 3 weeks early always. Verizon can't argue that, it's a fact. What is a fact is this is profiteering any way you look at it. Let's get more post on this outrageous billing.
You haven't made comment if a customer decided to move forward to their billing date, and what the percussion's would be?
Sorry just to clarify that I know what you mean, if a customer requests a bill cycle date change to an available one that they'd prefer it does prorate the billing for those cycles accordingly to when the change was made, but wouldn't increase overall cost, as the cycles are still just on a monthly basis.
For example if my bill cycle ends on the 14th of each month, and on December 1st I request it that it be changed to end on the 23rd going forward rather than have a 30 day bill cycle this month like usual (11/15-12/14) it will make the current month's cycle longer (11/15-12/23) thus also giving me a longer time than normal to have the payment due.
In that example if my normal monthly plan cost was $100 for a regular 30 day bill cycle which is about $3.33 a day, due to moving my cycle date farther in the future by 9 days this bill would include the plan costs for a 39 day cycle, so it would be about $130 instead. Same cost for me, as I would have had to pay for those days of service anyway, and account bills are only cut once a month.
Similarly, this would work the opposite way if I requested the opposite to have my cycle date moved earlier in the month, like from the 23rd to the 14th instead. That would cause a shorter bill cycle for this current month as instead of running from 11/24-12/23 it would be shorter by 9 days (11/24-12/14). While this would cause my bill to.be due earlier monthly going forward it would also cause the next bill to be lower than a normal month, since the cycle was 9 days shorter so it would be about $70 for that 21 day bill cycle if the normal monthly plan cost was $100 for a full 30 days.
Same cost overall for my plan for Mr and same profit overall for Verizon in any case, just switches the cycle/due dates. It can be confusing with all the available options and situations, but the scenario type can apply when making any changes with a service provider that bills plans on a monthly basis, whether wireless, landline, cable, utilities etc. That's good you pay 3 weeks early, as with just your official due date moving 3 days earlier going forward you actually wouldn't notice a difference, as your monthly plan cost would remain the same as it was
If your bill date is the 14th of each month. Then Verizon back tracks by 3 days to the 11th of each month then it is profiteering anyway you look at it. Some post will come in here that are sensible! I will change carriers over this profiteering.
Verizon will no doubt get big coverage this week with CNN and FOX news over this profiteering. Especially after the Senate voting the biggest tax overhaul in years. Verizon has been put in a tax base as a corporation that was at 35% reduced to 21%. Then now does a profiteering! Beyond believe as an American corporation!
I get what you mean, but you are understanding this wrong. Your billing cycle is not changing, just the due date.
Yes, if a customer calls and requests for a bill date change, there will be a prorate for that month. However, the billing cycle will also move to correspond to the customers requested date change.
Verizon is not changing anyone’s billing cycle dates. They are just moving up the bill due date, in essense just shortening the time you have to pay on time.
LOL, the only thing that is occurring is the amount of time given to pay the bill before there is possible late fees.
They are not taking away the number of days in a month.
They are not removing the number of days you get service.
This has nothing to do with profiteering.
This simply standardizes for all customers the amount of time to pay a bill that is due..... Make sense??
[removed] Let me explain this simple so that you may even be able to understand.
If a bill is to be paid on the 15th of the month, but a customer wants to move it to the 18th. Verizon will not allow that to happen, unless you pay them a fee to do so.
Now on the other hand the bill is to be paid on the 15th. But Verizon wants it now paid on the 12th. They get the money funneled to them faster. That becomes a great advantage to a large corporation like Verizon!
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Message edited by Verizon Moderator.
If you do the math on this within 10 billing cycles they will gain a full month of service payment. And they will not reimburse you, yet if you tried to move your billing date ahead they would prorate and charge you. Outrageous!
If I do the math, if Verizon were to gain a full month of service payments within 10 months of this new bill due date, I would have made 11 monthly payments, not 10. That is the ONLY way they would have gained a "full month of service payment". Since I will only have made 10 monthly payments in the next 10 months, your assertion is simply not true.