Verizon offers some of the most powerful unlimited plans on the market, with amazing coverage, tons of hotspot data. Read on and learn more about verizon plan for 2023.
If you are up for Edge plans, you will definitely like the Verizon Plan.
If you are in need of one of the “subsidized” contract plans many of us were used to, you will need to look elsewhere.
This is actually so because Verizon no longer offers plans where you pay $200 down on your phone and then pay back the rest of the subsidized cost over the term of your contract.
So let’s get started looking at the Verizon Plan as you will need to know the credit requirements and fees before you sign up.
Buying Your Phone
When you sign up withVerizon, you can choose to either pay for the entire cost of the phone immediately, or purchase the phone in 24 monthly installments.
You should know that your 2-year cost of ownership will be exactly the same whether you pay for the phone up front or over 24 payments.The only difference if paying the phone in installments does require that you enter into a 2-year contract with Verizon.
If you choose to pay for your phone in installments, your monthly payments depend on the cost of the phone you choose, but there is no upgrade fee or finance fee.The amount is just added to your monthly bill.
Early Upgrades with Verizon
Verizon gives you two ways to upgrade your phone.
First, you can upgrade after making half (i.e., 12) payments under your installment plan and then trading in your phone. This makes Verizon’s early upgrade program the most expensive of those offered by the major carriers.
Why?
Because other carriers essentially give you a discount to lease a phone.Verizondoes not. Your other option is to pay the full price up front, re-sell your phone when you want to upgrade, and then buy a new phone.
Most customers who want to experience theVerizonnetwork will most likely opt to stick with their phone for at least 2 years.
With the introduction of the Verizon Plan in 2015, Verizon simplified phone purchase price and wireless plan options.
Here are the basics of how it works:
No upgrade or activation fees
Pay the full retail price of your phone up front or in 24 monthly installments
$0 down on a smartphone for eligible customers (based on a credit check)
All plans include unlimited talk and text
You select only the amount of data you need each month
You will pay an access fee for each device
Types of Verizon Plan for 2023 and Their Price
We use the 16 GB iPhone merely as an example and so you can compare costs against other carriers.Other popular smartphones from Samsung will have similar prices.
1. Wireless Data Plans
As we mentioned earlier, all plans include unlimited talk and text.From there you need to decide how much monthly data you will need.
As you will see below,Verizonmakes suggestions for the size of your data plans based on the number of connected devices and your monthly usage requirements.
On top of your monthly data cost and device payment, you will also need to pay a monthly access fee for each connected device.
2. Individual 3 GB Data Plan
Phone: $27.08/month
Access Fee: $20/month
3 GB Data: $45/Month
Monthly Total: $92
2 Year Total: $2,210
3.Family 12 GB Data Plan*
2 Phones: $54.16/month
Access Fee: $40/month
12 GB Data: $80/month
Monthly Total: $174
2 Year Total: $4,180
* Totals are rounded for convenience.
Verizon charges you a premium to use their top rated network and 4G LTE speeds.But you can also own your phone, and can re-sell it after 2 years.
If you decide to trade in your phone and upgrade after 12 months, your 2-year cost of ownership will be the same as shown (assuming the new phone has the same price).But you will incur sales tax again and you will not be able to re-sell your phone.
4. Monthly Access Fees for Verizon Plan
CurrentVerizonpricing for monthly access charges are as follows:
$20 per smartphone
$10 per tablet or hotspot
$5 for all other connected devices
And, before you ask, even the first phone on the plan must pay the $20 monthly access fee.
Credit Requirements and Eligibility
Verizon Wireless tends to have strict requirements as far as credit checks go.Verizonwill run your credit to check the level of debt you are currently managing. Also, whether you have charged-off or collections accounts, note. Your payment history and the limits on your credit accounts.
If your credit score is lower than 650 or so,you may have trouble getting approvedor you may be required to pay a large deposit.
Verizon plans are expensive, but a lot of that expense is offset because you sell your phone after 2 years.(Leasing and early upgrade plans usually require you to turn in your handset to upgrade early).
However, if you love the fast and reliableVerizonnetwork, Verizon remains the way to go.