Transitioning from Verizon to T-Mobile through Costco deal
PSA
Thought I would share some of the info associated with making this move, as others may find it helpful.
Switching 4 lines over to TM from Verizon postpaid. Current Verizon bill is about $205/month with 4 lines. Current phones are all iphones — 12 pro, 14, SE2, and SE2. All were traded in as part of the below deal. Acquired 2 15 pro max, 1 15 pro, and 15 (about $4,500 total cost).
Costco/Tmobile deal with Go5gPlus plan for all 4 lines is basic plan cost of $185/month, 4x$250 line credit for the plan [$1,000 in costco gift cards in about 3 months] and 4x$200 Costco credit [$800 in costco gift cards in about 3 months]. $1,800 total cash equivalent, which we will certainly use at Costco.
For the phones on trade in received credits over 24 months (less the trade in value) of $1,000 (12 pro), $833 (14), $400 x2 (SE2). The values that TM assigned to the phones is less than what you would get on trade-in at Apple. For example, TM valued the 12 pro at about $300 while Apple had $400, and the SE2s were valued by TM at $25, Apple $75. The trade-in amount reduced the amount owed on the phones immediately, while the remaining credit gets applied to the balance over 24 months.
Between the $1,800 in costco gift cards and the $2,600 in trade-in credits, $4,400 total, I basically covered the cost of all new, significantly upgraded phones.
I looked at buying the phone through the Costco online phone number, but they would not budge on giving my the TM insider 20% discount on the service. Called the local Costco that has the TM kiosk and asked if they would do it, and they agreed to. That brings my line cost down from $185 to $148. I am currently paying $205 at Verizon, saving nearly $60/month on service.
Verizon had basically nothing to offer existing customers by way of upgrading. I saved thousands of dollars and will save about $700 per year by doing this.
For those on the fence, try the service out on your own phone for free for up to 3 months. I found speeds in my home city were better on TM than Verizon. Time will tell how well it performs in other areas I travel to. NOTE: you really need to do this test with a capable 5g phone with the bands TM uses. I think a lot of people who have issues with TM is because they have old phones that lack the bands currently in use.
One last thing is that the max credit they will extend to you as a consumer and as part of these deals at least, is $3,600 (for those with excellent credit). I was roughly $1,000 over that amount with the phones I purchased, so I had to pay roughly $1,000 up front, which has the effect of further reducing the monthly payment for the phones.
I get the phones in a few days and will see how the actual switchover works, but for now, I am happy with TM and their service at the Costco store (they didn’t try to force me to take cases, insurance, etc. either, which I always find kind of annoying).