Verizon lays out device payment plan details

Verizon lays out device payment plan details

Verizon Wireless officially began their payment plan option yesterday, giving customers the ability to purchase and activate service on a full retail priced device and pay for it in monthly installments. If you have been wondering what the specifics are, Verizon let us know today on their blog:

  • Full retail priced smartphone or tablet eligibility price must be a minimum of $349.99.
  • Pay for the full retail priced smartphone or tablet in 12 payments.
  • Finance charge of $24, which is just $2 per installment.
  • Device Payment Plan customers can take advantage of Share Everything pricing and data sharing.
  • First payment, including $2 finance charge, due at time of purchase. Your next payment will appear on your next Verizon Wireless bill.
  • Feel free to pay off the full balance of your new full retail priced smartphone or tablet anytime you want.
  • Maximum of two open Installment Plans per customer, subject to credit approval.
  • $1000 combined Installment Plan balance limit per customer.

Let us know, is this option for you?

 

 

 

 

 

Source: Verizon Wireless

 

 

 

About author

Scott Webster
Scott Webster 6607 posts

Scott has been running AndroidGuys since 2007 and loves nothing more than reading up on the latest smartphone rumors. His other mobile efforts can be found on Android Update (CNET) where he covers Google's mobile platform.

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4 Comments

  1. justin
    April 22, 14:38 Reply

    Finance charge? No thank you.

  2. Adam Ashe
    April 22, 14:49 Reply

    Seems a bit of a lame implementation for consumers; Verizon doesn’t have to pay an subsidy, so monthly access should be cheaper. The only thing they are “out” in this instance is the contract extension (would be out a tiny interest expect the consumer is paying finance charge).

    The consumer has to pay finance charge, get their credit score dinged with a hard inquiry & still pays full price for the phone.

  3. Scott Kenyon
    April 22, 14:50 Reply

    I tried to do this. The plans do not start for phones until May 1st.

    • irod87
      April 22, 21:07 Reply

      Did they ask you have questions as far as qualification for the program?

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