Bored? Broke? 👉 Savvy Saver

Verizon is Tacking on a $20 Upgrade Fee

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

thinkstockphotos-502348771

NEW YORK — If you’re a Verizon customer, you’ve only got a few days to sidestep a price hike coming to their phones.

The carrier will start charging customers $20 to upgrade their phones starting April 4.

The fee will apply virtually every time a customer upgrades to a new phone — whether customers buy the phone outright from Verizon, sign up for the carrier’s device payment plans, or even purchase the phone through Apple’s Upgrade program.

Previously, Verizon had only charged upgrade fees to customers still under a two-year contract (a $40 fee, which remains in place).

The only way for customers to avoid the upgrade fee is if they buy the phone from someplace else, such as Amazon, Best Buy or an Apple Store.

“People are switching devices more frequently,” a Verizon spokeswoman told CNNMoney on Thursday. As a result, the company needs to cover the costs of processing higher device turnover, she said.

 

 

 

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.