Verizon iPhone Upgrade Program (How It Works + Other FAQs)

Have you been wondering how the Verizon iPhone Upgrade Program works and whether it’s a good offer to get a new iPhone?

If so, continue reading below because I’ll let you know everything I’ve learned while researching this topic and answer all of your related questions!

Verizon iPhone Upgrade Program In 2022

The Verizon iPhone Upgrade Program allows you to upgrade to a new iPhone every year and is for customers that have a monthly device payment. With this program, you don’t need to wait until the contract is over to get a new phone, and you can continue with yearly iPhone upgrades for as long as you have Verizon.

Do you want to know more about the Verizon iPhone upgrade program, such as whether you’ll need to return the old iPhone to Verizon? Well, keep reading to find out all that and more!

How Does The Verizon iPhone Upgrade Program Work?

The Verizon iPhone Upgrade Program allows you to trade in your iPhone once a year if you meet the following conditions of the program:

  • Purchase and activate an iPhone that’s eligible
  • Get on to a Verizon device payment agreement for that phone
  • Use the phone with Verizon for 30 days or more
  • Pay 50% of the iPhone retail price using the device payment agreement
  • Find a new iPhone you’d like to upgrade to
  • Enter into a new device payment agreement
  • Return your old iPhone in working condition within 30 days with no damage

Additionally, to utilize the Verizon iPhone Upgrade Program, you will need to ensure your account is in good standing with Verizon.

Verizon also will make sure that you’re eligible to enter into a new device payment agreement before you can finalize the upgrade.

How Often Can You Use the Verizon iPhone Upgrade Program?

You’ll be able to use the Verizon iPhone Upgrade Program at least once a year, but you’ll need to make sure that your device payment agreement is at least 50% paid off before you are eligible.

What Does Good Working Condition Mean Verizon iPhone Upgrade Program?

Verizon requires that you return your eligible iPhone when upgrading as part of the iPhone Upgrade Program and the phone has to be in good working condition which means:

  • Device powers off and on correctly
  • The device does not have a cracked screen
  • No significant damage to the device
  • Fully functioning battery
  • The charging port must be functional and not broken
  • The same device as what’s in your original device payment agreement
  • All security features that require passwords are turned off (Such as Find My iPhone)

How Do I Know If I’m Eligible for Verizon iPhone Upgrade Program?

If you log in to your My Verizon account online or through the My Verizon app, you can check your eligibility to see if you can use the Verizon iPhone Upgrade Program.

What Happens if You Don’t Return Device For Verizon iPhone Upgrade Program?

What Happens if You Don’t Return Device For Verizon iPhone Upgrade Program? Verizon

If you fail to return your eligible device when you use the Verizon iPhone Upgrade Program, you’ll be stuck paying the balance of the device under your device payment agreement.

Furthermore, the amount that is still owed under that original agreement will be attached to your next cell phone bill and will need to be paid at that time.

On top of that, if your eligible device is not in good working condition, you’ll also be charged the balance on the device payment agreement on your next bill.

If You Pre-Order a New iPhone Are You Still Eligible for Verizon iPhone Upgrade Program?

You’re still eligible to receive a new device through the Verizon iPhone Upgrade Program even if you’ve preordered a new iPhone, and have entered into a device payment agreement.

However, you must make sure you have activated the iPhone 13 device to be eligible for the upgrade.

Do You Have to Pay Off Original Device Payment Agreement When Using Verizon iPhone Upgrade Program?

You will not need to make any more payments on your original device payment agreement as long as you’ve sent your old phone back to Verizon within the 30-day window.

Does Verizon iPhone Upgrade Program Work With A Prepaid Plan?

The Verizon iPhone Upgrade Program does not work with prepaid plans and that was a stipulation of the program made by Apple when it launched the program.

Therefore, if you’d like to join the Verizon iPhone Upgrade Program, you’ll need to have a postpaid account with Verizon and enter into a device payment agreement.

How Do I Return My Old Device As Part of The Verizon iPhone Upgrade Program?

When you get your new device through the mail, you’ll receive an envelope that you will use to ship back your old device and you’ll also receive a shipping label,

Additionally, if you don’t see the shipping label, you can go into your My Verizon account, look up your order history, and then print off a new label.

Simply put the old device into the envelope, place that envelope into the box you just got for your new device, and then put the return label on the outside of the new box.

Furthermore, make sure that you’ve properly packed your old device using the shipping materials that were sent to you.

However, before you ship out your old device, you want to write down the tracking number so that you have this information for your records.

If you are looking to learn more, you can also read our posts on iPhone won’t activate Verizon, if Verizon fixes phone screens, and buying phones from Costco vs Verizon.

Conclusion

The Verizon iPhone Upgrade Program allows you to trade in your old iPhone for a new one once a year, provided that you’ve paid 50% on the device payment agreement.

Additionally, you’ll need to have the iPhone for 30 days and it’ll need to be activated before you can enter into a new payment agreement with your newly upgraded iPhone.

However, you must return your old device within 30 days, or else you’ll be charged for the remaining balance on the device payment agreement on your next bill.

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Florence Howard

Florence Howard has been freelance writing for over a decade, and has a vocational background in retail, tech, and marketing. Outside of work, she enjoys listening to rock and metal, and playing with her dog and cat.

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