Who I have the same questioned this topic

Verizon offered an iPhone 12 trade-in pre-sale promotion of $440 for your existing phone, divided into a 24-month bill deduction.  So, we decided to trade in two of our phones.  Both phones qualified for the $440 trade-in.  We ordered two iPhone 12s.  They both came on the same day.  We returned our trade-in phones that afternoon, using two separate return boxes with UPS labels.  We tracked the boxes, and they both showed up at the Verizon return office at the same day/time.  My phone was examined and approved for the $440 credit within four days.  My wife's phone has never been approved/disapproved.

This was six weeks ago.  I have chatted/talked with at least six Verizon agents since then.  They affirm that the phone was received, based on the UPS documentation.  I worked with each agent at least an hour, some longer, attempting to resolve the issue.  At least four agents "gave me their word" that the issue had been resolved, that I would see the credit on my next bill.  Well, guess what, I still haven't seen the credit.  It's now being "investigated" to see what happened to the trade-in phone.  If you haven't found it in five weeks, what makes you think you will find it in one more week?

This is really simple.  Either give me the $440 credit for the trade-in phone, which was in very good condition, or return my trade-in phone to me.  Oh, that's right, you can't return my trade-in phone because you lost it!

It felt good to vent on a community forum.  We have been Verizon customers for over twenty-five years.  My takeaway from this is that none of the agents that I have talked to/chatted with have very little authority to resolve any issues that a customer has.