To start things off, I will give you some background information. I am 18, and I will be attending college in the fall. I have been using Verizon wireless for almost three years. I am part of my parent's family share plan. I pay my parents the bill. However when i move away for college, I will be unable to pay my parents for my cell phone bill. I just renewed my contract last August.
I want to know if there is anyway for my parents and I to transfer my line to its own account. I would be willing to extend my contract. I was also wondering, if there was the possiblilty that they would let me drop out of the family share plan (without termination fee) and just start a new plan (so that I would have new phone deals).
Thank you in advance for your time.
Hello and welcome! Well, let's make this as simple as we can . . . you're going away to college and want your own account which you will pay for yourself I presume. Ok, the best way to do this is through an Assumption of Liability (AOL) in which the Primary Account Holder (one of your parents I presume) needs to call verizon (peferrably with you nearby the phone as well) so that the transfer of the account can take place.
The Primary Account Holder needs to first authorize the release of the line to you. You will then acknowledge acceptance of the line. I must tell you that you need to have established some form of credit as you need be what verizon calls "credit worthy". If accepted, the line and phone number will be placed totally in your name only and you will be responsible for the payments.
They will NOT let you just drop out of a contract (family share or not) and just start all over without Early Termination Fee (ETF) penalty. However, if you got this line/phone last August then come this August (one year point) you become eligible for a "One Year Upgrade" (discount) on new phone! You'll have to be a "My Verizon" member and be on a plan of $49.99 or more (which your family plan probably is) and be willing to signup for a two year contract. I hope this helps
DC covered pretty much everything. Just know that if a security deposit is needed, the maximum is $400 per line. Just a few years ago it used to be a max of $1000 per line.
The minimum (according to a rep I spoke with over the phone) is $75 per line.
If your credit is in good standings, no deposit is needed at all.
Deposits are credited back to your account after a year of service granted you always pay your bill on time. I was informed that you also gain a small % of interest for being good with payments. Kind of a reward bonus saying "We know your credit was not good at the start, but here is a small gift of our appreciation for keeping payments on time."