Verizon Wireless Adds More Flexibility to Smartphone Upgrades With New Edge Program

Technology

This is a compensated post

As a member of the Verizon Wireless Lifestyle Blogger team I often am among the first to know when the carrier announces some big news. Yesterday we learned directly from top management all about the new Verizon Edge consumer program that just launched which adds more flexibility into the buying and upgrading of basic phones and smartphones that run on the Verizon Wireless network. For those of you who are always coveting the newest technologies and don't have the patience to endure the traditional two-year contract waiting period, this new offering may be music, literally, to your ears.

At Verizon HQ West for a recent conference, MommyBlogExpert.com

Me in row 2 with some of my #VZWBuzz Friends at CES

Verizon Edge Participant Benefits

• Upfront costs for a new phone are lower than similar offers from other carriers like AT&T and T-Mobile
• Gives you the option to pay for your device in monthly payments over 24 months with no interest added to the remaining balance
• After credit is approved, you're out the door after making just your very small first payment at the time of purchase which will be much less than buying a device outright that also requires a contract 
• The program is accessible to new customers when acquiring your first device as well as to existing clientele on any Verizon plan who have completed their contracts and are eligible for a product upgrade
• Once you've made payments for 6 months and you've paid 50% of the full retail cost of the phone you can exchange your old phone in working condition for a brand new one of your choice
• Since this program is a month to month contract, you are not obligated to stay with Verizon and there is no early termination fee if you leave -- You are only required to make the remaining payments till the device is paid off
• Tablet users may be eligible for a device payment plan that lasts only 12 months

My iPhone 5, MommyBlogExpert.com

How Verizon Edge works using example of an iPhone 5

If you don't mind a two-year contract, then you can buy the iPhone 5 outright for $199.99 from Verizon. But, if you decide to participate in Edge, then instead you would pay the full retail iPhone 5 price of $649.99 --divided into 24 monthly payments -- with only the first payment of slightly over $27 plus taxes due before you walk out of the store and start using it. With a contract, your phone is paid for and you keep it. But with Edge, once you've made payments for 6 months and you've paid about $350 (half the cost of the phone) you are offered the opportunity to trade in that working phone at Verizon for a newer iPhone if one is available.

See VerizonWireless.com for more information

FTC Disclosure: This is a sponsored post. I disclose that I am a Verizon Wireless brand ambassador. However, opinions here are my own. See complete FTC Disclosure information that appears at the bottom of MommyBlogExpert's main page and at the bottom of every individual post on this blog, including this one.