Verizon announced today that it will be offering up to $650 to help with costs when switching over to its network. We’ve seen other carriers offer something similar, such as T-Mobile and its Carrier Freedom promotion.
Big Red will give you up to $650 per line to switch over to its network, but that’s only if you have an outstanding balance on your smartphone of up to that amount. Alternatively, Verizon will only give you $350 if you pay early termination fees.
There are, of course, some caveats. You must order a new smartphone with monthly payments from Verizon, and you have to port your number over to the carrier. This means that consumers must qualify for a monthly payment plan, which depends on your credit score/history (even those with good credit sometimes don’t qualify, for some reason).
Keep in mind that Verizon won’t be writing you a check. This $650 will come in the form of a Visa pre-paid gift card, which will come in the mail 6-8 weeks after sending in your smartphone. Of course, the carrier you’re leaving might not want to wait that long, so you may have to shell out the money upfront and use the gift card to cover costs elsewhere.
Verizon is offering this new promotion to those who are eligible starting today.
source: Verizon
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