Verizon Wireless has been announcing some changes lately, these include a new $35 prepaid plan and changes to a customer’s upgrade eligibility policy. Those Verizon subscribers that have contracts expiring in January 2014 will now not be able to upgrade to a new device through the 20-month upgrade cycle. He or she must wait a full 24 months before they’re eligible to get a new one. Though Verizon is offering some relief, those who want a new device without having to pay full retail price up front, can sign up for a Device Payment Plan which would divide the full retail price in to a year’s worth of monthly installments.
The Device Payment Plan is only available for smartphones and tablets that are priced over $349.99. There’s also an additional $24 finance charge associated with this plan which will be billed in increments of $2 each month, for one whole year. So now Verizon Wireless subscribers have two options, either they can wait two years to be eligible for an upgrade, or they can sign up for this new plan and virtually upgrade their device any time they want.