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frontpage Posted by aus • Sep 22, 2023
frontpage Posted by aus • Sep 22, 2023

Costco: New Lines w/ Trade-In at Verizon: iPhone 15/15 Pro + $250 GC

& More (In-Store)

Free after 36-Monthly Bill Credits

Costco Wholesale
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Deal Details
Costco Wholesale Stores via Verizon Offers New or Existing Customers: 128GB Apple iPhone 15/15 Pro (2023) for Free after 36 Monthly Bill Credits when activated on a New line and trade-in any iPhone on eligible Verizon Unlimited Ultimate Plan (see plan pricing). Existing Customers can Upgrade and Receive $830 Off New iPhone 15 Lineup with Select Trade-in on Qualified Unlimited plans after 36 Monthly Bill Credits.

Additionally, Costco Wholesale offers Members a $250 Costco Shop Card with New Line OR a $100 Costco Shop Card for Upgrading Eligible Line when purchasing this offer In-Store at any participating Costco location featuring Verizon wireless service kiosks [store locator; scroll down to "Shop Verizon at a participating Costco location near you"].

Thanks to community member aus for sharing this deal.

Offer Details:
  • Trade-In: Follow the instructions on the product page or provided by the Costco rep for details on how to fulfill the trade-in portion of your offer

Editor's Notes

Written by slickdewmaster | Staff
  • About this deal:
    • Offers will be delivered digitally via the email on your VZW account, verified at the time of purchase. A physical card is available upon request. Eligible service lines must stay active a minimum of 60 days to qualify. Costco Shop Cards are not redeemable for cash. Except as required by law.
    • Please refer to the Forum Thread for additional discussion regarding this deal.

Original Post

Written by aus
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Costco Wholesale Stores via Verizon Offers New or Existing Customers: 128GB Apple iPhone 15/15 Pro (2023) for Free after 36 Monthly Bill Credits when activated on a New line and trade-in any iPhone on eligible Verizon Unlimited Ultimate Plan (see plan pricing). Existing Customers can Upgrade and Receive $830 Off New iPhone 15 Lineup with Select Trade-in on Qualified Unlimited plans after 36 Monthly Bill Credits.

Additionally, Costco Wholesale offers Members a $250 Costco Shop Card with New Line OR a $100 Costco Shop Card for Upgrading Eligible Line when purchasing this offer In-Store at any participating Costco location featuring Verizon wireless service kiosks [store locator; scroll down to "Shop Verizon at a participating Costco location near you"].

Thanks to community member aus for sharing this deal.

Offer Details:
  • Trade-In: Follow the instructions on the product page or provided by the Costco rep for details on how to fulfill the trade-in portion of your offer

Editor's Notes

Written by slickdewmaster | Staff
  • About this deal:
    • Offers will be delivered digitally via the email on your VZW account, verified at the time of purchase. A physical card is available upon request. Eligible service lines must stay active a minimum of 60 days to qualify. Costco Shop Cards are not redeemable for cash. Except as required by law.
    • Please refer to the Forum Thread for additional discussion regarding this deal.

Original Post

Written by aus

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Top Comments

F1Racer
6251 Posts
822 Reputation
Wow 36 months bill credit.
i.e. 3 year contract.
injailhahahaha
507 Posts
50 Reputation
Why would anyone want to be on a 3yr contract?
thehash
6530 Posts
1458 Reputation
36 month contract and you have to pay tax on the phone.
getting taken to the cleaners.

1,476 Comments

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Sep 28, 2023
2,035 Posts
Joined May 2011
Sep 28, 2023
pechango
Sep 28, 2023
2,035 Posts
Quote from enzoharikari :
So the entire transaction isn't just done on their "portal"? But what if you aren't a Verizon customer - how are they even requesting access through the Verizon app?
They have a tablet that has special access to the verizon systems. For new customers, i'm guessing you just do the normal phone port process where you purchase a new device instead of BYOD.
Sep 28, 2023
3,578 Posts
Joined May 2009
Sep 28, 2023
198four
Sep 28, 2023
3,578 Posts
Quote from silow :
Lol no. Verizon and effectively all carrier promos are bill credits over a 2-3 year term.
Do you mean the trade in will be a bill credit?
Sep 28, 2023
2,035 Posts
Joined May 2011
Sep 28, 2023
pechango
Sep 28, 2023
2,035 Posts
Quote from 198four :
Do you mean the trade in will be a bill credit?
Yes, over 36 months.
Sep 28, 2023
963 Posts
Joined Dec 2011
Sep 28, 2023
silow
Sep 28, 2023
963 Posts
Quote from isekii :
For those with Verizon.. how is the credits applied. Is it at the start of the billing cycle or is it all over the place ?

i.e T-mobile I think credited when the bills are generated.
currently with ATT and the credit is all over the place which is confusing and totally crappy.
The bill credits co-term with the device installment. So if you're billed for installment 13 of 36 you are also credited for bill credit 13 of 36.

When bill credits are applied after device installment has already started Verizon will apply catchup credits. For example the credits don't get approved/applied until the bill with device payment 3 of 36 you will receive bill credits 1 - 3 of 36.
Sep 28, 2023
2,504 Posts
Joined Mar 2008
Sep 28, 2023
isekii
Sep 28, 2023
2,504 Posts
Quote from silow :
The bill credits co-term with the device installment. So if you're billed for installment 13 of 36 you are also credited for bill credit 13 of 36.

When bill credits are applied after device installment has already started Verizon will apply catchup credits. For example the credits don't get approved/applied until the bill with device payment 3 of 36 you will receive bill credits 1 - 3 of 36.
yea i get that .. but my question is are the credits applied all together at the same time.

I have 2 att credits applied at the beginning of the month. then 1 mid month then like 2more towards the end of the month instead of it apply all a the same time.
Sep 28, 2023
963 Posts
Joined Dec 2011
Sep 28, 2023
silow
Sep 28, 2023
963 Posts
Quote from isekii :
yea i get that .. but my question is are the credits applied all together at the same time.

I have 2 att credits applied at the beginning of the month. then 1 mid month then like 2more towards the end of the month instead of it apply all a the same time.
If by the same time you mean the same bill - yes. What you owe are debits (service plan and device payment) and the trade in is a credit. The credits are co-termed with the device payment meaning you receive a credit for each installment payment. The installments are divided into 36 equal months. Verizon bills on a monthly cycle.
Sep 28, 2023
3,578 Posts
Joined May 2009
Sep 28, 2023
198four
Sep 28, 2023
3,578 Posts
Quote from pechango :
Yes, over 36 months.
Wow. What a rip-off.

Thanks for your help.
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Sep 28, 2023
400 Posts
Joined Jan 2006
Sep 28, 2023
eihcet
Sep 28, 2023
400 Posts
Anyone know if this plan works for Verizon Business customers (small business)? If so, can they manage that at the kiosk / stations at Costco? Thanks.
Also for home users, is the unlimited plan discount for BYOD lost in lieu of this promotion, typically on other deals there was like a $15/mo discount on all their unlimited plans. If this holds true you are paying at least $15/mo more per line for your unlimited plan than if you BYOD / didn't buy a phone. $15*36= $540 verizon is charging extra for your service per line. This is not unique to Verizon and folks should really ask how much they'd pay for 3yrs of service if they BYOD to compare the "Real" opportunity cost of upgrading. [Thanks enzoharikari for verifying my assumption]

Also, I lost out on the resale value of my phone. If my trade in is worth < $360 I come out ahead by doing the free phone promotion. But if my phone is worth more than $360 then I might benefit by selling it myself. For me, I'd estimate my phone has a real world value of $200. So $540 + $200 is the amount verizon is getting out of me $740 to switch. In trade they give me a $899-1099 phone. Not a "bad" deal just a complicated one to do the math, on purpose. I save about $160-360 by switching, but absolutely not anywhere near the $900-1100. The costco gift card is another nice bonus.
Last edited by eihcet September 28, 2023 at 09:14 AM.
Sep 28, 2023
69 Posts
Joined Feb 2014
Sep 28, 2023
enzoharikari
Sep 28, 2023
69 Posts
Quote from eihcet :
Anyone know if this plan works for Verizon Business customers (small business)? If so, can they manage that at the kiosk / stations at Costco? Thanks.
Also for home users, is the unlimited plan discount for BYOD lost in lieu of this promotion, typically on other deals there was like a $15/mo discount on all their unlimited plans if you BYOD, so if you are getting a free phone via credits you are paying full list on the plan and losing out on the $15mo you'd otherwise get == not really free because the rate plan is essentially jacked up for 36mo's.
You lose out on BYOD discount if you purchase a new iPhone 15 with the discount (the 36 month credit is your only discount applied). So the $800-$1000 credit essentially is less $540 BYOD credit normally spread across 36 months ($15) in the grand scheme of things. I justify going this route because I can sell my current iPhone 12 ($300-$400) and I'm instead trading in an older iPhone 6s (no real street value) for the credit.
Last edited by enzoharikari September 28, 2023 at 08:49 AM.
Sep 28, 2023
12,639 Posts
Joined Nov 2006
Sep 28, 2023
poohbie
Sep 28, 2023
12,639 Posts
Quote from pechango :
The costco rep should be logging into your account by requesting access from you via the Verizon App. You allow them access through that.

They will go through and order the new phone, inform them you will do a payment plan, take the IMEI of your trade-in phone (directly, if it is an active phone on the account, or manually if you have one not on the account) and then you should get a link to open and review before the order is placed.

If you aren't getting the ability to approve anything first, that person doens't know what they're doing.

Once it is approved, they should print out a transaction receipt showing what all was done.
I saw that "your approval is needed" after I already left Costco. It was followed right after with a "your order is complete" e-mail so I assume they somehow bypassed that step?

I didn't get any print-out, they just said it'll come by e-mail. I got a few e-mails directly from Verizon.

Did your receipt indicate you'd be getting a $250 or $100 Costco GC?
Sep 28, 2023
328 Posts
Joined Apr 2018
Sep 28, 2023
connordog
Sep 28, 2023
328 Posts
Quote from trumpinjailhahahaha :
Why would anyone want to be on a 3yr contract?
Blanket statements like these are not helpful.

I'll give you an example...

From the service perspective, if you travel, Verizon is bar-none, the best service provider. Ask any RV-er and most will agree. Verizon provides the best coverage download speeds nationally versus ATT, T-Mobile and their prepaid services.

From the perspective of cost for the hardware, the expected service life of the iPhone 15 (or any recent iphone for that matter) is 5 years (60 months). In my case, I'm trading in a Samsung S20 FE for which I paid $550 (with no trade-in) 3 years ago. The average cost per month is ~$15.

I just upgraded to the iPhone 15 Pro Max (base model). The next cost, after trade-in, is $490. Costco sweetens the deal with a $100 gift certificate so my net cost is $390.

Looking at my cost for the Samsung S20 FE ($550) and the expected life of the iPhone 15 Pro Max (5 years and net cost of $390) my average cost of ownership for my iPhone is expected to be $9.79/month (550+390 / 96 months). I can make it sound even better if I exclude the trade-in amount because then, my average cost of ownership for 5 years will be $6.50 month. I expect in 5 years I'll find a similar deal and my average cost will continue to decrease.

This is the way to approach whether the deal is good for you; coverage/performance and average cost of the hardware for the life of the hardware. But that's must me...who knows for the rest of you. Maybe the other carriers are worth the risk when you need them the most.
1
Sep 28, 2023
2,035 Posts
Joined May 2011
Sep 28, 2023
pechango
Sep 28, 2023
2,035 Posts
Quote from poohbie :
I saw that "your approval is needed" after I already left Costco. It was followed right after with a "your order is complete" e-mail so I assume they somehow bypassed that step?

I didn't get any print-out, they just said it'll come by e-mail. I got a few e-mails directly from Verizon.

Did your receipt indicate you'd be getting a $250 or $100 Costco GC?
I did it all with the guy there and he waited for my approval before continuing. I generally don't like "authorized resellers" but the costco $100 was too enticing.

Yes, receipt shows $100 gift card.
Sep 28, 2023
2,035 Posts
Joined May 2011
Sep 28, 2023
pechango
Sep 28, 2023
2,035 Posts
Quote from 198four :
Wow. What a rip-off.

Thanks for your help.
Bash
Sep 28, 2023
180 Posts
Joined Dec 2013
Sep 28, 2023
twadec
Sep 28, 2023
180 Posts
Any idea how long this will last? I'm holding out for the Pixel 8 and could see them doing the same thing with it.

You'd think Apple and Samsung would want to run this through the Pixel launch but who knows/

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Sep 28, 2023
127 Posts
Joined Aug 2006
Sep 28, 2023
cokedude
Sep 28, 2023
127 Posts
Here's the math for my port in:
Pro max, 256gb, $1200/36 = $33.33
Unlimited plus plan (4 existing lines, 1 new unlimited plus) = $42
iPhone 7 plus trade in credit = $830/36 = $23.05

Costco $250 gc mailed or emailed after a few months. Verizon kiosk in costco printed a receipt with "$250 gc" on it.

Taxes are due upon upgrade. $35 activation was added to monthly bill.

Trade in will be dropped off at Verizon with submission ID when I receive the new one. Old phone needed to be on/online to confirm find my iPhone was logged out to generate submission ID. I recommend "trading in" at the same time (even though the device doesn't get dropped off at Costco) to ensure the credit is applied to the order. The non-promo trade in value is $10 so that'd be a $820 gamble.

Why am I porting in? Family plan is unlikely to change for 3 years. Paying the same monthly without a phone credit did not seem worth it. Verizon unlocks after 60 days so it'll be useful for international esim eventually.

Trade in credit varies with plan: $1000 for ultimate unlimited ($52/mo), $830 for unlimited plus ($42), $415 for unlimited welcome ($27). It is $3.5 a month more for unlimited plus from unlimited welcome since you get $415 more trade but you're paying $15 more for the plan.

Uprgades get $100 from costco instead of $250. Upgrades, however, require iphone 8/se and above to get the same value while new line can take in basically any iPhone.

The my Verizon app can show you an exact value on trade in (and new monthly bill) after going to shop, adding in the new phone first, select monthly payments, and yes on trade in. Do not completely proceed as you will not get the Costco gc. It will save time, however, since you can tell the Costco Verizon agent exactly what plan to build and you'll already know what it should cost ahead of time.

Good luck.

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