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Verizon revises its Edge plan to let users upgrade after 30 days, a good deal only at first glance

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.
January 20, 2014
Verizon logo 2013

Early last week Sprint announced it was killing its One Up early upgrade plan in favor of its new Framily Plan with an Easy Pay option. It looks like the Now Network isn’t the only carrier that is looking to change up its no-contract plans in an attempt to better compete with T-Mobile, as Verizon is now slightly modifying its existing Edge early upgrade plan.

Verizon’s previous upgrade policy for Edge was you could move to a new phone after 6 months, at least as long as you were willing to trade in your existing device AND pay 50% of the handset off. Unfortunately, the revised Edge plan isn’t any better. You can now upgrade your device after just 30 days on the Edge plan, but the same 50% payout and device trade-in is still required.

Verizon’s Edge plan (arguably) might not be a complete rip-off, but it’s far from an 'epic deal' for most consumers.

The problem here is that Verizon’s promise of upgrades after 30 days sounds nice, but for many customers it will be more than a little difficult (and impractical) to throw down enough cash to cover half the phone’s cost in just 30 days and be forced to give up the device. Of equal concern is that Verizon’s no-contract pricing is the same as you’d get with a subsidized price, making Edge kind of pointless for most would-be-subscribers.

For folks that can easily afford to switch phones as quickly as 30 days, the more logical approach would be to buy the handset outright and then simply sell in on a site like Swappa in order to help cover the costs of the next device you want to pick up.

Bottom-line, Verizon’s Edge plan (arguably) might not be a complete rip-off, but – at least in our humble opinion – it’s far from an “epic deal” for most consumers. What do you think of Verizon Edge and all the other early upgrade plans? Are most of these plans gimmicks, good deals or somewhere in-between?