Question: How Does Verizon Payment Plan Work?

Verizon’s Device Payment Plan

Verizon’s monthly installment plan is pretty straightforward: they give you 24 months to pay off your device, and once you’ve paid your phone down by 50%, you have the option to upgrade early.

You do have the option to pay down your device by 50% to become eligible for an early upgrade.

How does the Verizon device payment plan work?

How does the Verizon device payment program work? Requires that you enter an agreement to pay for the device in monthly payments until the device is paid off. You can choose to pay the installments over the full period of the term or pay off the device’s total price any time.*

Does Verizon do payment plans?

You can schedule one, free of charge, 24 hours/7 days a week with the My Fios app, by signing in to My Verizon, or using our Automated Phone Service. A $7 Agent Assistance Fee will be charged for any payment arrangement made with a Customer Service Representative over the phone.

Does Verizon early upgrade work?

Verizon’s early upgrade program is seemingly straightforward. You can upgrade to a new phone with Verizon once you have paid off 50% of its retail price under your device repayment program—and return it in good working condition.

What happens if you don’t pay your Verizon bill?

If you don’t pay your mobile phone contract, your account will go into arrears. Your mobile provider could cut your phone off so you’re unable to make or receive calls. If you don’t take steps to deal with the debt, your account will default and the contract will be cancelled.

How does the Verizon upgrade work?

What is the upgrade fee? You’re charged an upgrade fee when you buy a new device at retail price or through the device payment program. The upgrade fee is $20 when upgrading through the My Verizon app or My Verizon online ($40 when activating in a store or by phone).

What happens when you pay off your phone Verizon?

IF you are on the Verizon Plan, your monthly bill would drop by the monthly phone payment you no longer have to make. You will lose this discount once you pay off your phone, so while your monthly phone payment will no longer be on your bill, the monthly discount will no longer be there either.

Does Verizon have a grace period for payments?

There are several ways for you to make a Payment Arrangement. You can schedule one 24 hours/7 days a week in the My Fios app or by signing into My Verizon. You still have to make the payment on the agreed-upon date, and any late fees from the original bill due date will still apply.

Will Verizon pay off my phone?

No longer. Verizon will now pay up to $650 per line if you sign up for a new smartphone plan and trade in your old phone. If you were under a two-year contract with your current provider, Verizon will give you up to $350 to pay off your early termination fees.

How late can you pay your Verizon bill?

A late payment fee can be charged to your account as early as the day after the original bill’s due date. Late fee charges are charged at the rate of 1.5% of the balance that wasn’t paid by the due date or $5 (whichever is greater) or as permitted by law.