Verizon is changing their Edge device financing offer.
Much like AT&T, Verizon has a long history of anti-competitive behavior.
Beginning June 1, Verizon is changing their upgrade program, Edge, so that the number of monthly payments for a device changes from 24 months to 20 months. Verizon is also changing the percentage of a device’s costs that a customer will need to pay off before they can upgrade from 50% to 60%.
Verizon has now announced that it is changing its Edge plan, allowing customers to upgrade to a new device as quickly as 30 days. As to be expected, there is a big catch: you’ll need to pay off 50% of your current phone and turn it back in to Verizon.
Fran Shammo, the aforementioned CFO of Verizon, said very plainly “We will not touch our service pricing” when prompted to comment on whether or not Verizon would alter their pricing scheme to suit the Edge offering. Shammo plainly and flatly told us what we knew all along: Verizon isn’t interested in saving us money.
We wanted a way out of our two-year contracts early, without paying an early termination fee. Each carrier has done that for us, although the ETF is really just parsed out differently. Be it making sure your device is half paid for like Verizon asks, or a monthly fee for the option to leave, you’re still paying for that ETF in some way.
There are no mysterious monthly fees, or painfully long waiting periods for upgrade. There is no early termination fee, and All of Verizon’s “Share Everything” plans are eligible, too.