Verizon’s Switch, Trade & Get $300 Offer: Is It As Good As It Sounds?

Verizon’s Switch, Trade & Get $300 Offer: Is It As Good As It Sounds?

Right now Verizon wireless is offering $300 when you trade-in your smartphone and switch over to them, which sounds great- but is it as good as it sounds?

Kind of… although it is a pretty straightforward deal there are some drawbacks/clarifications that need to be addressed.

Let’s take a look:

How it works:

Get $300 ($200 on a Verizon electronic gift card and $100 as a bill credit) for switching over to another carrier.

To start, go to Verizon’s smartphone recycling page to get your phone assessed to see if it qualifies.

If it does, you then need to buy a new phone from Verizon Edge and transfer your old number over when you check out.

Activate your new phone for the $100 bill credit, then send back your old phone for the $200 gift card.

The bill credit appears in 2-3 billing cycles and the gift card arrives within 2 weeks.

You will be mailed a box to return your old phone 5 days after activation and the phone must be in good condition.

Why it’s a good deal:

Verizon offers excellent coverage and service, making extras like gift cards and bill credits a big plus for anyone who is thinking of switching over.

So if you have a current smartphone and it works well, making the switch is a smart idea because  with Verizon Edge you can get the latest smartphone and pay over a 24 month period- making them easier to afford.

In addition, a $200 gift card is like cash in your hands- that’s something you hardly ever see any company do.

Finally, there are no loopholes or gimmicks- they are giving you exactly what they say they are.

Why It’s Not Such A Good Deal:

To start with, even though you are making monthly payments (usually between $20-$30), you are still paying upwards of $400 for a phone.

Yes, phones in general are expensive, but carriers like Boost mobile have several smartphones for a lot less- and they are just as nice.

It may not the new iPhone 6, but for those on a budget it may be worth considering.

Also, monthly payments are an added bill, which may be a drawback for some.

As for the gift card and bill credit- having to wait for them is kind of a downer.

2-3 months can feel like an eternity when you’re waiting for money off.

Plus, that $300 your getting isn’t really coming from Verizon-it’s a result of your phone trade-in, so they are paying you with your own money in a sense.

Finally, Verizon has excellent service- and a big reason for that is you pay for it.

Verizon has pretty expensive pricing, especially when it comes to data, so make sure it is worth switching over.

Overall, this offer is a good one, but there are some definite drawbacks in terms of budget and time to look at before deciding.

What do you think of Verizon’s $300 trade-in offer?

Share your thoughts on it below and remember to follow all my latest consumer news reports on Twitter!

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I am a mom to 2 little boys: a 3 year- old and 2 year-old and they are the only things I love more than writing. I am an avid reader, a big sports fan and love a good deal. Most of all, I love keeping up on the latest consumer news and sharing my findings with all of you.