If you buy a Galaxy S7 or S7 edge with device payments on Verizon, you’re enrolled in the big red carrier’s Annual Upgrade Program. The program works just like it sounds, letting you upgrade to any new smartphone every year. To do so, you’ll need to wait 30 days after activating your phone and also have paid more than 50 percent of the cost of your device. If you meet those requirements, you can trade your old phone in and upgrade to a new one.
Verizon also notes that if you pre-ordered a Galaxy S7 or S7 edge, you’re already enrolled in the Annual Upgrade Program.
Verizon also said today that new customers and switchers that activate a new Galaxy S7 or S7 edge can receive a $100 bill credit. That credit will be applied within two to three billing cycles. Meanwhile, existing Verizon customers can receive up to $300 in credit or on a VZW gift card when you trade in your old smartphone and upgrade to an S7 or S7 edge.
Last year saw both Apple and Verizon launch annual upgrade programs for the new iPhone hardware, letting customers upgrade to a new device every year, so long as they’ve paid off half of the device. These upgrade programs are nice because it’s often tempting to upgrade to the latest and greatest new flagship, but not everyone can do that because it can get expensive and time-consuming if you’re trying to sell your old phone to fund your upgrade. These upgrade programs let you simply trade in your old phone and upgrade to the new model without any fuss.