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Verizon makes changes to upgrade program, mirrors AT&T's new upgrade program

Verizon is changing their Edge device financing offer.
October 16, 2014
Verizon Edge

Since first being implemented, Verizon has made a number of changes to their Edge handset early upgrade program. Now, as first reported by Droid Life, Verizon is changing their Edge device financing offer by increasing the time in which customers can make monthly payments to two years and requiring a greater percentage of the device to be paid off before they can upgrade.

Starting October 16, Verizon customers:

  • Will have additional months, from 20 to 24 months, to pay off installments on their EDGE financing plan.
  • Will need to pay off 75% of their device cost before upgrading, up from previously having to pay off just 60% of the cost.
  • Will now be able to upgrade after 18 months from when they add a new device.

Verizon will also be lowering the monthly access charges for users who buy their devices through the Verizon Edge program. The discounts will range from $15-$25 depending on the purchased data package. Verizon’s More Everything plan have also been changed. Prices for the 500 MB data plan will now cost $20 per month (instead of $30) and will include unlimited talk and text. Unfortunately, data overages will still cost $15 for every additional 250 MB.

To nobody’s surprise, these changes make Verizon’s Edge program more in line with AT&T’s Next 18 upgrade program which offers upgrades after 18 months and includes 24 monthly installments.

Although Verizon has made a number of changes to improve the upgrade program, the elimination of subsidies without actually lowering service rates means that almost a number of customers on the Edge program are still paying roughly twice for the handset.