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Are you contemplating a change in your mobile carrier or considering an upgrade to the latest iPhone or another smartphone? If so, Verizon has introduced an enticing offer that could be hard to pass up. Customers can receive a free smartphone when enrolling in any of their myPlan options, while also securing their monthly billing rate for a duration of three years.
On the surface, this deal might appear advantageous. However, it’s natural to question whether there are any hidden caveats and whether it’s the right choice for you. Let’s explore the specifics of this promotion.
Understanding Verizon’s Free Smartphone Offer
Currently, Verizon is promoting a free smartphone with any trade-in of a phone, regardless of its condition, alongside the activation of one of their myPlan unlimited plans. This means even if your old phone is damaged or has operational issues, you may still be eligible for the offer. It applies to both new and existing Verizon customers and extends to popular devices including those by Apple, Samsung, and Google.
By participating in this promotion, customers can earn up to $999.99 in promotional credits, which is allocated over a 36-month period, essentially covering the entire cost of a new phone. While customers won’t pay upfront for the device, the credit will be reflected as a monthly discount on their bill. However, if you terminate your service earlier than the 36 months or no longer meet the criteria, the promotional credits would stop, leaving you responsible for the remaining balance.
Key Conditions to Note:
- The offer is valid for new lines as well as upgrades, but upgraded phones must have been active on your account for at least 60 days.
- The trade-in device must be from a recognized brand (Apple, Google, or Samsung).
- A postpaid Unlimited plan with a minimum monthly cost of $65 with Auto Pay is required, with variations based on the chosen phone. For instance, devices like the iPhone 16 or Galaxy S25 have a minimum monthly plan of $80, while higher-end models necessitate a $90 plan.
Details on the Three-Year Price Guarantee
In addition to the promotional smartphone offer, Verizon is also providing a guarantee that locks in the base rate of its myPlan unlimited plans for three years. This initiative aims to enhance price stability for customers during uncertain economic times. Both new and existing customers who subscribe to any myPlan option can benefit from this pricing security.
However, it’s important to clarify that the price lock only pertains to the base plan rate and does not cover taxes, fees, or optional add-ons such as extra data or entertainment services, which may still lead to an increase in the overall monthly bill. Nevertheless, securing a stable base rate for three years can be beneficial, especially as other carriers implement more frequent rate hikes.
Should iPhone Users Consider This Deal?
If you are considering an upgrade to the latest iPhone, such as the iPhone 16 Pro, this offer merits your attention. Given the hefty prices for new iPhones, which typically exceed $1,000, acquiring one “for free” through a trade-in and monthly credits might be a significant opportunity. Moreover, since Verizon has lenient trade-in policies, it presents a low barrier for entry.
This might be an opportune moment to purchase, especially if market conditions, such as upcoming tariffs or inflation, threaten to increase electronic prices in the near future. Yet, it is crucial to note that while the deal appears enticing, it does involve a commitment to monthly payments for the device alongside your service plan. Therefore, careful consideration regarding your budget and the alignment of this offer with your financial objectives is essential.
Steps to Upgrade or Switch to Verizon
If You’re Already a Verizon Customer: You can explore your trade-in options by visiting the official Verizon site and seamlessly upgrading through your account.
If You’re Switching from Another Carrier: You can go through the equivalent process, and may also qualify for additional benefits, such as discounted accessories or credits to offset switching fees.
Select Your myPlan: Each plan varies in terms of features and pricing; ensure you choose one that meets your needs and fits within your financial framework.
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www.kiplinger.com