About a couple of years ago, Verizon Wireless launched its Verizon Edge early upgrade plans. These plans were offered by the Big Red in order to give its subscribers a chance to upgrade to a new mobile device at the soonest opportunity. And now, the carrier is yet again making changes to the terms and conditions of the plans.
Beginning May 31st of this year, subscribers under Verizon Edge plans will be allowed to upgrade to a new handset at any time within the two year repayment period, as long as they have completely paid off the entire cost of their Edge phone.
What would this mean for Verizon Edge customers? For starters, it would give subscribers fewer restrictions as to how soon they can upgrade to new devices. But on the other hand, it would also mean that customers will have to pay more in order to exchange their existing handsets to a new one.
Before these latest changes to the terms and conditions of Verizon Edge plans, subscribers used to be able to upgrade their phone at any time only after the first month of their Verizon Edge enrollment, and only if not less than 75 percent of the mobile device's total cost has been fully repaid.
When subscribers upgrade to a new handset, they were made to return their old devices under their Verizon Edge plans if they were not able to fully repay 100 percent of the device's full price. But now that Verizon Wireless is making the minimum cost for upgrading equal to that of the total balance of the subscriber's device, subscribers get to keep their handsets after electing to upgrade to a new phone.
With this latest development, many may notice that Verizon Wireless is basically getting rid of the early upgrade component of its Edge plans, and really just putting a typical mobile device financing plan in its place.
At its core, an early upgrade plan essentially provides a way for wireless subscribers to upgrade to a new smartphone model without having to sit out the entire two year duration. Most early upgrade plans offered by wireless carriers typically lets subscribers trade in their old devices for a new one without really paying the full retail price of their handset. Sure, subscribers don't always get to keep their old handsets, but enrolling in an early upgrade plan grants them the ability to always update themselves with the newest smartphone models available in the market. Also, it can make for a convenient, quick, and even cost effective way of replacing old handsets.
Subscribers avail of many of today's early upgrade plans because they can enjoy the option of upgrading to a new phone without having to pay the full balance of the device. But in Verizon's case, that option has been removed, or rather changed -- subscribers can only upgrade if they have fully repaid everything. Still, the “any time” aspect of the deal does offer some advantages, especially to subscribers who want to upgrade the soonest and have no problem paying the full price.
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