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Why does Verizon want me to pay *more* to renew my 2-year FIOS contract than to let it expire?

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willdude
Copper Contributor
Copper Contributor
Posts: 13
Registered: ‎05-02-2010

Why does Verizon want me to pay *more* to renew my 2-year FIOS contract than to let it expire?

Message 1 of 4
(2,001 Views)

Currently I'm paying $104.99/month for Extreme HD and 50/50 internet.  When my contract expires in August, that will supposedly go up to $119.99/month:

 

vz1.png

When I go to the upgrade/renewal page, I'm offered a start a new 2-year contract for the very same services for $124.99/month:

vz2.png

 

So why on earth would I do this?  Why would I sign a contract to pay $5 more per month for 2 years on the chance that maybe the off-contract price will go up at some point?

 

It's also worth noting that if I try to sign up for service as a new customer, I'm offered the Extreme HD and 50/50 Double Play for my current $104.99/month for a 2 year contract.  I know from experience that trying to get new-customer offers as an existing customer is a losing battle (despite the fact that I already have the lines and equipment and would require zero labor from Verizon), but it still seems like a crummy way to treat existing customers.

3 REPLIES 3
tns2
Platinum Contributor III Platinum Contributor III
Platinum Contributor III
Posts: 4,437
Registered: ‎12-16-2012

Re: Why does Verizon want me to pay *more* to renew my 2-year FIOS contract than to let it expire?

Message 2 of 4
(1,927 Views)

Not unusual IF they had raised prices during you current 2 years.  The current price also might include a discount that will no longer be available

 

And note at the end of your current contract prices will probably go up more unless you accept a new 2 year contract.

 

Remember you are talking to peers and not Verizon.

willdude
Copper Contributor
Copper Contributor
Posts: 13
Registered: ‎05-02-2010

Re: Why does Verizon want me to pay *more* to renew my 2-year FIOS contract than to let it expire?

Message 3 of 4
(1,921 Views)

Well, the new-customer 2-year price of $104.99 hasn't changed since I began this contract 2 years ago.  And look at the screenshots -- I'm currently paying $104.99/month, with $15 in discounts which expire at the end of my contract, which means when my contract ends it'll go up to $119.99/month.  So to entice me into signing a new contract, they're offering to lock in a price of $124.99/month for 2 years, $5 MORE than I'd pay if I just let the contract end.  How does this make sense?

tns2
Platinum Contributor III Platinum Contributor III
Platinum Contributor III
Posts: 4,437
Registered: ‎12-16-2012

Re: Why does Verizon want me to pay *more* to renew my 2-year FIOS contract than to let it expire?

Message 4 of 4
(1,889 Views)

When the contract expires the current price DOES not normally continue.  I would expect it to go up more per month than the new two year contract they are offering.

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