There's this super idiotic and deceptive policy Verizon has when it comes to upgrading a device you bought on promo with installments.
Basically, if you upgrade and payoff your phone, you lose your bill credits. Here's how the Verizon scam works: you become a new customer or buy a new device under the impression that it's a deal, (like half price for example)... But in reality, the contract for the device is for the full retail price. Then they provide a bill credit to offset the promo price, so it seems like you really are getting the device for 1/2 price. However, you're not. Not unless you keep that installment going for the full 24 months.
In practice, it's a prepayment penalty which is illegal unless it's disclosed, but they get around it by not including the discount on the device contract. Sneaky very sneaky.
The reps aren't even empowered to offer something like a free phone case, or a one time bill credit to help soften the blow. Just nope... Sorry you're messed up and that's policy. The reps apologize... But for what? It's NOT their fault some executive that's probably out golfing and sipping on cocktails made up the stupid "anti consumer" policies the reps adhere to. They're just doing their job and trying to get through one more torturous day.
Take the number of subscribers Verizon has (119.9m) then give each person an Otterbox case (roughly $40). That's over 4 BILLION. No smart business will toss billions away like that.
No Tigerstep, a smart company wouldn't do that. What a smart company would do, is take the hit for $40 to sell something many times that price. The average smart phone price, (considering the company gives away a case to sell a phone, and NOT even including collecting liquid assets in the payoff of said devices), and that example customer base would generate $67,983,300,000 in sales revenue.
I apologize for any disappointment with the losing any bill credits when paying off and upgrading to a new phone, toddsdonalds. Let me help you with your concerns. Was any details shared with you about what the how the promotion works after a device is paid off? Where was the payoff done (online or at the store) and the upgrade to the new device processed? There should have been something alerting to the points about paying off a device early and also when the promotion was used. We do provide information online on how bill credits work and here's a link to share this with you https://www.verizon.com/support/device-payment-faqs/#monthly . Please scroll down to the section 'general information tab where is show what to "keep in mind". I trust this helps shed some light on the concern.
Hi Edwin, yes it was clearly explained several times by different reps. I talked to several Verizon reps because I couldn't wrap my head around something so illogical and simply one of the dumbest things I've ever heard.
The answer they all gave me was the same. If a Verizon customer pays off their device early, to upgrade their phone, they lose the "deal" attached to that device. Honestly, it's so stupid, I still can't make sense of it. Why would Verizon purposely lose the opportunity to sell more merchandise and guarantee the customer will stay with Verizon longer?
It's "anti-business", I'm surprised that they (corporate execs), don't see that.