I have two smartphones. One has a contract end date of 2/5/15 and the other has 9/20/15. My sons phone was fried in a power surge at a hotel this week. How much will the fee be for me to cancel one phone? I am thinking it will be cheaper than paying the $40 a month from now until Feb 5th.
$350 minus $10 for each month of the contract term completed. I will let you do the math.
The information is available in the Customer Agreement that always at the bottom of every Verizon Wireless web page. Customer Agreement | Verizon Wireless
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Ok so my billing date ends Aug 26th. I am thinking it would be best to wait until Sept 6th to cancel as then it would be 19 months completed and the fee would be $160 as opposed to paying $40 a month for the next five months. Is this correct?
FYI if you cancel after your bill closing date which you state you want to do, you will be paying for a month of service that you cannot use.
If you cancel your service one or two days before the 26th. you only have the ETF and no more months of service charges.
Why pay for what you cannot use?
If you cancel today (or at least before Aug 26) you will save an extra months ($40) access fee. Sure you will pay $170 for the Early Termination but in the end you will come out ahead.
ETF $170 minus the Access fee saving (6 months@$40) $240 = $70 saved versus the $40 saved if you wait until after Sept. 6 to cancel.
Do you no longer want or need a line for your son? If you do, just look on craigslist for a used phone. As long as it is a Verizon phone, you can activate it for his line. Just be sure it has a clean ESN. Verizon can tell you if it does. I had a Verizon website to check ESNs, but I've lost it.
Alternatively, Sprint announced today a new plan and will pay your ETF. You can pay full price for the phone with no contract or get it at a lower price with a two year contract. I am seriously considering switching to sprint myself.
That is terrible! Sorry to hear that happened to his phone. Is there any insurance on the phone? This will at least get him a phone rather quickly once the claim is filed http://bit.ly/07CrqPK.
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I did not do insurance this time. By the time you pay the premiums and deductibles it is barely worth it. I switched to Sprint and got him the Galaxy S5. The hotel contacted me today and will file with their insurance once they recieve my letter stating the phone is unfixable and the amount it is worth. Sprint had two different $50 rebates and $100 rebate so it was basically free.