It all started with T-Mobile and its uncarrier initiative last year. Magenta did away with conventional service contracts and announced its Jump program, through which it allows customers to upgrade their phones without having to worry about waiting to be eligible for an upgrade. The other carriers went down this exact same route, Verizon launched its Edge program through which it began allowing existing subscribers to upgrade mid-contract after six months had passed. Big Red has now cut down the upgrade time on the Edge plan from six months to just 30 days.
What this means is that after just 30 days, subscribers will be able to upgrade their phone, provided that at least 50 percent of the phone’s price has been paid off. They can then select a new phone and pay its full retail price in 24 monthly installments which will be added to the usual monthly bill. Existing phone can be traded and for a limited time, Verizon is offering a $100 gift card when subscribers trade in an old phone and buy a new 4G LTE smartphone on Verizon Edge. The carrier will also throw in free activation to further sweeten the deal. This new deal is said to be a promotion, though Verizon hasn’t specified what the end date is just yet.