NEW Verizon Edge Longer Term to Edge up and higher Prices per month

[Patience_Gone]

Can anyone explain how the new Verizon Edge program has changed in detail?

I see that the prices for the phones have all increased by $5 or more.  And that now you have to pay off 60% of the phone instead of 50%. 

Is anyone aware of any other contract changes with the Edge program? 

[TaylorF · Accepted solution]

Essentially, the term has changed. The retail cost is now split into 20 monthly payments, rather than 24. And you're correct, 60% is now required to Edge up, which with the 20 payments will still make 1 year the cut off for Edging up without paying anything more upfront. I've heard that a lot of customers were asking for the installment term to be shortened, so that may be the simple explanation for why it was done. But no other changes have been made, and to my knowledge no current Edge plans have been effected. If you signed up for Edge before June 1st, you'll still have the same plan, and still be able to upgrade at 50%.

I hope this helps!

Best Regards,

Taylor

[Patience_Gone]

Its seems like they have also changed the credit and deposit requirements as well.  After you edge up from the old contract you will then be under the new contract.  Ask 3 different Verizon reps and you will get 3 different explanations on how the Edge program works.  Just trying to understand all the details.  You don't get the contract until after you sign. 

[rcschnoor]

Of course, you could simply read about Edge HERE, which explains how it works.

And of course, every time you sign a new contract, you will be under the terms of the new contract instead of the old contract.  This is not only a Verizon thing, but ALL contracts which you sign.

[bolt903]

This is not directed at you at all, but to Verizon and anyone who cares to respond. The way it was, 24 months and 50%, lets say on the galaxy s5, it was 24.99 a month on the edge. If a person had 10gb or more there was a credit of 25.00 for each smartphone on the program. It would've cancelled each other out and the bill would not have went up at all. Now, 20 months and 60%, the same phone is 29.99 which means the bill goes up. I can see why Verizon would want this but I can't see why a customer would want their bill to go up? I don't know? The math is totally in favor for Verizon.

[rcschnoor]

You are correct, for more expensive phones. Not ALL phones will bring the Edge payment above $25, though. There are many phones where the Edge payment is still below $25. Of course, if you can't afford the more expensive phone, simply don't get it and choose one which is more in line with what you can afford.

[RushFan2112]

There is a plus...after 20 months you will no longer be paying on a phone and will still get the $10/$25 discount lowering your bill.

[ponyruns]

It may not make sense initially but math is still such that the edge customer with the 10GB discount is saving money when compared to the 2 year subsidy customer with 10GB and no discount.

2 year contract out-of-pocket (Samsung Galaxy S5)

$30/$35 upgrade fee/activation fee

$100 + Tax

$40 x 24 (Monthly smartphone access) + $100 x 24 (Monthly 10GB Data access) + Taxes and Fees = $3360

Total over 2 years = $30/$35 + $99.99 + $3360 = $3490 + Taxes/Fees ($3495 for new activation)

Edge program out-of-pocket (Samsung Galaxy S5)

$15 x 20 (Monthly smartphone access) + $100 x 20 (Monthly 10GB Data access) + $30 x 20 Monthly Phone Installment+Taxes and Fees = $2900

Assume last 4 months edge discount is not applied and month-to-month discount promotion is no longer offered at the end of this edge example.

      Last four months

$40 x 4 (Monthly smartphone access) + $100 x 4 (Monthly 10GB Data access) + Taxes and Fees = $560

Total over 2 years = $2900 + $560 = $3460 + Taxes/Fees

So in the end you still save $30/$35 dollars using Edge.  Note this example holds if and only if you require 10GB+ per month if you require less then 10GB+ you will not save money using Edge.

[ponyruns]

Its not a huge savings but for the frugal shopper any savings is a big savings.  If the month-to-month discount is still in effect 20-24 months from now then the additional savings jumps up to $130 for this particular example.  More of a savings if a person gets a lower tier phone.

[Bhudds]

I hope the Verizon Edge Upgrade Plans before June 1, 2014 are not affected by this change of terms mentioned in the original post because I will stop being their loyal customer if earlier Edge Upgrade plans are indeed affected