I signed up for the Edge plan a few years ago for my love of tech. I wanted the new phones when they came out, not every two years. The Edge plan stated that I could upgrade to a new phone when I paid 50% of the retail price of my current phone.
Last year I utilized the plan for the first time when I upgraded to the Note Edge. I had a little over $100 to pay to get to the 50% mark so I could upgrade. Yesterday, I checked MyVerizon to see how much I had paid on the Note Edge because I wanted to get the S7 when it came out. I was a little more than surprised when I saw that in order to upgrade I had to now pay 75% of the retail price of the phone. When I called Verizon support and spoke with the customer service rep, who was incredibly uninformed (which I find to be the case every time I call customer service), told me that the Edge plan changed a long time ago, even before I upgraded to the Note Edge. The employee never informed me of this change.
If the Edge plan stated that 75% was needed to be paid before I was eligible for an upgrade, then I never would've signed up for it. Not to mention that if there's a change to the plan I'm currently on, Verizon should definitely make sure I'm informed of the change.
Needless to say, I'm more than unhappy with Verizon. I was 7% away from being eligible for an upgrade, now I'm 32% away. This type of terrible business practice is why I'm currently researching other wireless providers.
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That's not how it was described to me, nor did I sign anything saying there was a 'new' contract. The employees both at the stores and on the support line are woefully inept. AGAIN, the way I v understood it, I was on a plan where I could 'Edge' up when I paid 50% of the phone off.
When you first signed up, they COULDN'T have described it to you in any other way than 50% paid off before trading in and upgrading because the changes had not yet taken place.
It is just like a car loan. You purchase a car with a car loan and after a certain amount of time you trade it in for a new model. The equity you have built up in the car by paying off your initial loan goes to pay off the remaining amount of the loan and the rest is put as a down payment for the new car. You sign a NEW car loan to purchase the NEW car. You are not held to the same conditions of your initial car loan. You are held to the conditions of the NEW car loan you take out for this purchase.
The Edge Plan/Device Purchase Plan work the exact same way. You take the full retail amount of the phone and spread that payment out into 24 installments. With Edge, you were allowed to trade in the phone after reaching a specified threshold of having the installments paid off if you wanted to get a new phone. If you continued to pay off the installments UNTIL they were completed, the phone was yours to do with as you please and you could THEN purchase another phone without trading in your old phone.
did you use edge in 10/16/2014- 5/30/2015 time frame if yes then if I am not wrong then 75% is right answer...it depend on when was last time you did edge upgrade
It is important us that we get the perfect device in your hands, JoeS. I am sorry to hear about the unpleasant information you have received but we are ready to work and turn this around immediately. I have sent you private message to go over details. Thank you for being the best part of Verizon.
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then you are right it should be 50% in 2013 you might want to call customer service back and ask more information .It should not be change from 50% to 75% without any notice or explanation .
Each new Edge (now Device Payment Plan) payment agreement was updated to the current terms of the program. At first it was 50% paid off, later it changed to 75% paid off. Now the customers are required to pay 100% of the installment balance before they can start another device payment. Even if you started in 2013 on the 50%, the next phone required 75% and next one required 100% paid off. Your receipt and installment agreement for each phone purchase should have said the terms and percentage of the balance needed to be fulfilled before you could consider it completed.
I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.
You keep referring the "The Edge plan". Just to clear it up, Edge was just an agreement to purchase a phone in installments. The plan is More Everything or the new Verixon plan.
It has been replaced with the device payment plan which requires 100% payoff to upgrade. You can trade in your device for value, or sell on eBay.