Hereof, is it good to pay off phone early?
It's not a rule that paying the phone off will save you money but it's a good guideline for old contracted plans. I agree that most and larger savings happen on pay as you go and/or other carriers. Single lines on large carriers tend to be more expensive. That's just the way things go.
Also, does Verizon unlock your phone after you pay it off? Your prepaid Verizon phone is locked because it has to be activated on the network. Most prepaid phones are locked to their original carriers for 12 months. Once that time has passed and you make your first payment, your phone should be ready to unlock.
Considering this, what happens when your phone is paid off?
All the national level providers in the US—think Verizon, Sprint, AT&T, and so on—are mandated by law to unlock your phone once you've fully paid off the device subsidy, your contract ends, or you've paid an early termination fee. This means that you'll be able to use it on other networks and even internationally.
What is the catch with Verizon device payment plan?
Verizon's monthly installment plan is pretty straightforward: they give you 24 months to pay off your device, and once you've paid your phone down by 50%, you have the option to upgrade early.
