Verizon is finally fighting back against competitive promotions from other carriers like T-Mobile that have sought to woo away the giant’s wireless customers.
Earlier this week, Verizon announced its “No Regrets” promotion, which offers those who make the jump to big red up to $650 per line to cover termination fees.
According to Verizon, the money can be used to cover the cost to end a customer’s old contract and buy out any outstanding device or lease installment payments.
Customers can take advantage of the promotion when they port their number from another carrier, purchase a new 4GLTE device with Verizon and trade in their existing device. All trade-ins must be in good working condition and worth more than $0. New lines must be kept active for a minimum of six months for the promotion to apply.
Verizon said the new offer goes hand-in-hand with an existing promotion that offers customers an extra 2GB of data when they choose an XL or XXL plan for their device. The bonus data from that offer will continue as long as the customer’s device remains active on the chosen plan, Verizon said.
The move appears to be an attempt to sustain growth in the carrier’s wireless subscriber additions through the start of the new year.
In the third quarter, Verizon added 1.3 million retail postpaid wireless subscribers, up from 1.1 million in the previous quarter. As of the end of the third quarter, Verizon’s wireless division had a total of 105 million total retail postpaid connections, with 110.8 million total retail connections.
