Verizon is offering a $200 gift card to switch, and here’s how it works

We recently asked whether it’s still worth sticking with Verizon, and a lot of you sounded ready to walk. Prepaid plans keep getting cheaper, MVNOs are easier than ever to try, and patience with big carriers is wearing thin. Maybe someone at Verizon saw our polling, because the provider just dangled a tempting new offer.

For a limited time, Verizon is offering a $200 e-Gift Card if you switch, buy a new smartphone, and sign up for any myPlan Unlimited plan. This includes its entry-level Unlimited Welcome plan, so you don’t need to commit to one of the pricier tiers to qualify.

The gift card does require a bit of legwork on your part. You’ll need to submit a redemption claim within 60 days of placing your order, and Verizon says it can take up to eight weeks for the card to arrive by email once the claim is approved.

There are also some conditions worth keeping in mind. If you cancel service, return the phone, or move off an eligible unlimited plan within the first six months, Verizon can charge the $200 back to your account. The gift card can be used at Verizon’s corporate stores or on its website for devices, accessories, and services, but it won’t work at authorized retailer locations.

Verizon has run similar switcher incentives before. Still, it lands at an interesting moment, coming just days after the carrier was named the most reliable network in a new industry report. Between positive headlines like that and incentives like this, Verizon is keen to stave off the cheaper alternatives.