I was never credited for my trade-in! (a $640 credit!)

[takearushfan]

Hi. 

I'm REALLY infuriated right now.  I see from browsing that my issue is common with many others too.

I have a Samsung Galaxy S22 as the result of trading in my S10e.

I was promised a $640 credit towards the S22 I now have.  Mind you, the ONLY REASON I agreed to a trade-in was due to such a significant credit being offered.

I see that my remaining balance to pay off the phone is $731.99 ... uh, it should actually be $209.99 ...

I would never have traded in my phone if I knew this would happen!

I'm in absolutely no financial position to have an outstanding balance of $731!

Where is my credit?!

I don't mean to sound like a rude but you'd be livid too if you were in my shoes.

I tried customer support and not only does it now allow an online text chat, due to my current plan (that's asinine, BTW) but the representative when I has to call just couldn't seem to grasp what I was trying to explain.  She kept on bringing up my monthly bill and other unrelated things.  Eventually I realized she had no clue what she was doing or how to resolve my issue and I had to hang up.

How do I get my credit?  It's outrageous that they didn't apply it.  I should owe $209.99, not $731!

Verizon, I need you to please help me out here.  You're making yourselves look REALLY bad.

Thank you.

[vzw_customer_support]

Hi, there! We always want you ot get any promotion you qualify for, and we're here to help. When you have a promotional credit applied to your device's payment plan, you will still see the total balance owed on your device as the full amount of the phone's retail price. This is because we give you monthly credits to go toward the cost, rather than applying it in a lump sum. Have you reviewed your monthly bill? You should see a monthly promotional credit in your line details. I hope this helps.

*Anna

[takearushfan]

I'm confused.  You mean even though it still shows the balance of the full cost of the phone, I actually only owe the $209 until it's paid off?  I was under the impression that a credit of $640 on a 800some phone would bring what I owe down to $200some (I need to revisit the actual numbers) ... what does a monthly credit matter if it's a tiny amount going towards a far higher balance than what I'm supposed to owe?  It says it'll be paid off in 2025.  It should be paid off in far less time, as I shouldn't actually owe $731.  I'm not sure what's happening versus... I'm so lost.

[vzw_customer_support]

Exactly, even though the balance of the total cost of the phone is shown, you would only owe $209 until you finish paying for the device. If it says that you finish paying for it by the year 2025, it is because the credit is divided into up to 36 monthly payments, however, you can finish paying for the device whenever you want.

>David

[takearushfan]

So I keep paying towards it through a portion of my monthly bill, then once that $209(ish) is paid off, Verizon will acknowledge that the full thing has been paid off and there will be no remaining balance?

[vzw_customer_support · Accepted solution]

That's correct. The agreement will be active for the full 36-months, and the promotional monthly credit is received right a long with the monthly device payment until the agreement ends. When the agreement length has been met and the bill is current, your device payment will be paid off at the end of the 36-month agreement. Send a Private Note if you have any further questions. 

*Bee

[vzw_customer_support]

akearushfan, Thank you for reaching out via the Private Note. I want to make sure that you have all the right information. In order to receive a promotional credit, the device payment agreement must be active on the account. Meaning that you are billed for the device payment month, and would receive a promotional credit monthly for the full 36-months. 

For example, let's say a promotion is to receive up to $800 off a device, and the device cost happens to be $799.99. This puts your monthly device payment at $22.22/month. The promotional credit you would receive is $22.22/month as well. This will continue until the device is paid off in full per the 36-month agreement. Does this help clarify things?

*Bee