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$300 trade-in credit for a $50 phone? Is Verizon’s trade-in offer a good deal?

Verizon is offering a $300 trade-in credit when you switch from a different carrier. Our Verizon trade-in deal review breaks down the details to help you decide whether it’s a good option.

Verizon $300 trade-in credit details

Switch to Verizon and get $300 off the price of a new smartphone (or upgrade and get $100 off). The discount is applied as a bill credit over 24 months, beginning in 1-2 billing cycles. That amounts to $12.50 per month over 2 years (or $4.17 per month for upgrades).

You must purchase one of these smartphones to be eligible for the deal:

  • iPhone X, XR, XS or XS Max
  • Samsung Galaxy Note 9, S9 or S9 Plus
  • Google Pixel 3 or Pixel 3 XL
  • LG G7 ThinQ or V40 ThinQ
  • Red Hydrogen One

After checkout, you have 30 days to trade in one of the following eligible phones (note that your phone must be in good working and cosmetic condition):

iPhone XS Max

iPhone XS

iPhone XR

iPhone X

iPhone 8

iPhone 8 Plus

iPhone 7

iPhone 7 Plus

iPhone 6s

iPhone 6s Plus

iPhone 5s

iPhone SE

Galaxy S9

Galaxy S9+

Galaxy S8

Galaxy S8+

Galaxy S7

Galaxy S7 Edge

Galaxy S7 Active

Galaxy S6

Galaxy S6 Edge

Galaxy S6 Edge+

Galaxy S6 Active

Galaxy S5

Galaxy S4

Galaxy Note 9

Galaxy Note 8

Galaxy Note 5

Galaxy Note 4

Galaxy Note Edge

Pixel 3

Pixel 3 XL

Pixel 2

Pixel 2 XL

Pixel

Pixel XL

LG G7 ThinQ

LG G6

LG G5

LG G4

LG V40 ThinQ

LG V30

LG V20

LG V10

DROID Turbo 2

Moto z3

Moto z2 force

Moto z2 play

Moto z droid

Moto 2 force

Moto 2 play

HTC 10

HTC One M9

HTC One M9+

If the current market value of your phone is greater than the promotional value ($300 or $100), Verizon will pay the market value as a single lump sum bill credit.

Is the Verizon $300 trade-in offer a good deal?

It’s a good deal if your trade-in is worth considerably less than $300. For example, the LG V10 is worth around $40 in “good” condition, so Verizon’s offer will pay $260 more. You’ll need to be willing to wait to get that value since the $300 is applied over 24 months, but it’s the best price you’ll likely get for your new phone.

It’s not a good deal if your device is worth considerably more than $300. Even though Verizon will pay market value, online buyback stores will often pay even more. For example, at the time of this writing Verizon would pay $295 for an iPhone 8. However, we found buyers who would pay $360 for the same device – a $65 difference.

The Verizon deal isn’t the best option if you prefer fast cash payments. Verizon pays in bill credit over 24 months, while online buyback stores pay cash in just a few days. And while Verizon’s credit only applies to the cost of your new phone, cash can be spent on anything: a new phone, accessories, your mortgage, a night out – whatever you want.

You also need to consider any Early Termination Fees (ETFs) imposed by your current carrier. The Verizon deal does not pay ETFs, so if you’re under contract for your current phone the $300 might not be enough to justify a switch right now.

Related Help

> iPhone trade-in showdown

> Verizon trade-in program: is it a good deal?

> AT&T trade-in program: good deal or not?

> Sprint trade-in program: fast money or bad deal?

> Is the T-Mobile trade-in program a good deal?

> ecoATM prices: good deal or not?

> Where to get the most for your phone? Swappa, eBay or Flipsy

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