This morning, Verizon who is the #1 wireless carrier in the US did their Q2 earnings call. Which was really nothing out of the ordinary for Verizon. They gained a boat load of customers and made millions. On the note about VZ Edge, the company’s CFO Fran Shammo confirmed that the carrier will be offering an upgrade package in the near future called VZ Edge. He wouldn’t dive into the specifics of the new program, which isn’t a surprise at a conference call. But the announcement does match up with the information we’ve reported on from leaks already.
Using VZ Edge, customers will be able to purchase phones on a month-to-month service plans. What that means is, no contract. The payment of your phone will be spread out over the course of 24-months. The first month’s payment is due at the time of purchase. As far as upgrading goes, VZ Edge allows you to upgrade after you have been in the plan for 6 months and having paid off 50% of the full retail cost of your phone. Then you can choose a new phone and start the process all over again.
Based on the announcement today, there doesn’t seem to be a finance or upgrade fee to participate in Edge. But when Verizon announced their device payment plan a few months ago, they did include a $2 per month finance charge. So we are unsure if that will be going away or if they will keep it. VZ Edge is set to start on August 25th and will be live on Share Everything plans. They specifically say “Share Everything” plans, so this probably means that if you’re on an unlimited data plan, you won’t be able to participate in Edge. Just another way for Verizon to weasel you out of unlimited data it looks like. We’re going to try and get some confirmation on this.
Once all three upgrade plans are live, we’ll do a nice comparison between T-Mobile’s JUMP, AT&T’s Next and Verizon’s Edge to see which one if any of them are really worth the effort. What do Verizon customers think of VZ Edge?