These days Sprint is expected to be the provider heavy hitter when it comes to targeting competition (now including T-Mobile) with aggressive price wars. Verizon, however, seems to be taking a page of Sprint’s book with its newest Verizon deal for the start of 2016, which promises up to $650 for clients willing to switch services.
That sounds like cash up front, which is the point – but it’s not really that simple. Here’s how it works: Switch to Verizon cell phone plans from another carrier, buy one of their qualifying 4G LTE smartphones (required), trade in your existing phone to Verizon (also required), and then receive a prepaid card for up to $650. You can use this card for your new installment plan balance, less the trade-in value of your device – OR up to a $350 prepaid card for early termination fees less device trade-in value. The deal is voided if you cancel the phone plan before the first six months are up.
All that to say, if you jump through a lot of hoops, Verizon will refund you your termination fees and the other costs of switching to a new mobile provider. It doesn’t sound very exciting when stated that way, which is of course why the Verizon deal has framed it as a free money giveaway.
Despite lacking the fiscal impact of Sprints “cut your plan fees in half for a year” announcements, the Verizon deal does come with a couple extras for cell phones. If you select one of the more expensive plans, Verizon will give you an extra 2GB of data every month as long as your phone active on your plan, which is nothing to sneeze at if you dislike dealing with data caps (check out our news on cell phone plans for more recent deals if you want to save money).
The Verizon deal gets an early dig in at Sprint and T-Mobile by claiming that most people who switch from those carriers back to Verizon prefer Verizon’s quality and performance. If you’re a customer who is longing for the good old Verizon days, this deal can make switching back a whole lot easier. Otherwise, the gold leaf rubs off pretty quickly on this New Year deal.