The Expanded Guide to Verizon Device Dollars in 2024
Verizon Device Dollars offered customers voucher-like credits to reduce new smartphone costs. With this popular Verizon Up reward now discontinued, many are left wondering:
What were Device Dollars, exactly? And will Verizon ever restore a similar phone discount program for its customers?
Below we’ll unravel the details around Device Dollars – what they offered, why Verizon may have ended them, and most importantly, what options you still have to save on your next phone upgrade.
Decoding Verizon Device Dollars
First – what even were these lucrative-sounding “Device Dollars”?
Device Dollars were a Verizon Up reward where active members could earn recurring credits towards phones with qualifying activities. Customers could build up Device Dollars balances over time to save on new phone purchases, whether upgrading via device payment plans or buying at full retail price.
Based on past promotional terms, here is how customers previously accrued Device Dollars month to month:
| Month Active | Device Dollars Earned |
|---|---|
| Month 1 | $10 |
| Month 2 | $20 |
| Months 3+ | $40 per month |
Table showing previous potential Device Dollars earnings over time from Verizon Up participation.
So for frequent phone upgraders, Device Dollars became an attractive incentive for purchasing the latest models at reduced costs every couple years or so.
Just how much could diligent subscribers save with Device Dollars anyway? Let‘s do some math with a hypothetical example:
- Say you accumulated Device Dollars for 2 years straight
- That‘s $840 total in credits ($10 + $20 + 24 months x $40)
- The popular iPhone 14 Pro costs $999 from Verizon
- With Device Dollars, your price is lowered by $840 down to $159 – with no trade-in required!
As you can see, the savings added up substantially over a typical smartphone ownership lifecycle. No wonder many customers were bummed to see Device Dollars discontinued last year!
Why Did Verizon Retire This Popular Phone Promo?
If customers loved Device Dollars so much, why did Verizon axe this program from Verizon Up rewards?
Industry analysts speculate economics likely played a role. Due to rising device costs from partners like Apple and Google, carriers have had to shoulder more expenses subsidizing phone discounts.
Per Verizon‘s Q3 2022 earnings release:
"Industry smartphone promotions and device launch activity pressured reported results."
So in a period of increasing phone prices, accruing monthly Device Dollar credits likely became too expensive for Verizon’s promotion budgets.
By retiring Device Dollars for now, Verizon can re-optimize promotional spending around trade-in offers tied to payment plans. These require customers to hand in their old devices, rather than straight vouchers.
Still, don‘t lose all hope of seeing some form of Device Dollars comeback one day…
Could Verizon Resurrect Device Credit Promos?
Though Device Dollars are currently gone from Verizon Up, it’s possible Verizon could test reviving a similar device promo credit system when the budgets allow.
Many customers have provided feedback to Verizon requesting a return of Device Dollars or equivalent credits towards new smartphone purchases without requiring trade-ins.
And Verizon does have a history of rotating various promotional formats – like how device promo dollars previously existed before the introduction of Device Dollars years back.
There are also rumors Verizon could be exploring different formats for device credits, whether tied to specific models or loyalty memberships. Competitors like T-Mobile still offer recurring phone discount promos, so pressure remains for Verizon to respond.
But for now, any imminent return is speculation. So what should you do to save on your next Verizon phone upgrade in the meantime?
6 Ways to Save on Your Next Verizon Phone
Unless Verizon announces a formal Device Dollars comeback, here are the best options to reduce your Verizon smartphone costs in 2024 and beyond:
1. Trade In Previous Device
Verizon‘s top ongoing phone promo program gives credits towards new devices when trading in eligible older models. Credits scale based on make, model, and condition of traded-in phones.
2. Buy Pre-Owned/Refurbished
Opt for a used, certified pre-owned phone rather than brand new models for instant discounts. Refurbished options tested to work like new.
3. Wait For Occasional Sales
Big sales events – like Black Friday through Cyber Monday – sometimes include phone promos.
4. Use Employee Purchase Discounts
Those eligible for employee purchase programs unlock 25% discounts on devices purchased via installment plans.
5. Explore Loyalty Perks
Check if paid Verizon plans like Play More Unlimited qualify your lines for periodic phone promos.
6. Activate Phone on Payment Plan
Financing a new phone through a monthly payment installment plan will split upfront device costs over time.
The bottom line is Verizon does still offer ways to reduce phone costs – just different and less consistent than Device Dollars rewards. Stay persistent searching for promos and sales for your specific timing and device needs.
And who knows…we may all get lucky and see the revival of Device Dollars one day!
