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lilred72's profile

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Monday, March 4th, 2024 4:41 PM

3 yr contract

Turned-in android to get $800 off on new phone, but still locked in for 3 yrs....is that part of the fine print contract ?

Accepted Solution

Official Solution

ACE - Expert

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14.2K Messages

1 month ago

It's not really "fine print." It's how the promotion is advertised.

You bought a phone on an installment plan paid over 36 months. You traded in a phone for promotional credits of $22 a month over 36 months. 

You are only "locked in" to having to stay with AT&T over 36 months to receive all $800 worth of credits. You can leave at any time, you'll just have to pay the remaining installments in full and forfeit any remaining credits.

ACE - Master

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10.4K Messages

1 month ago

Phone sold by AT&T are always locked and aren’t eligible for unlocking until they are paid off.  Your phone won’t be paid off for 36 months, so it remains locked until then.  The credit is just a monthly offsetting bill credit that only totals $800 after 36 months.  It’s not $800 off the price of the phone.  You’re still paying down the cost of the phone at 1/36 of the total price every month.

ACE - Sage

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117K Messages

1 month ago

AT&T 3-year installment deals, with bill credits for trading on an old phone are published on their website.  The rest of the trade in agreement was something that you would have had the opportunity to read once you signed up for it.

Also AT&T offers are pretty much like the other carriers.  

here's samples

New Member

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26 Messages

1 month ago

Your used phone was not worth $800, 99% of *USED* phones are worth between $35-220. If you wish to opt into an $800 promotion you will be getting it over the course of 36 months. If you opt out, they will give you the actual value of the phone your phone in one lump sum. That's how ALL wireless companies work. If they have you an $800 phone for your $120 phone and it was immediately paid off and able to be unlocked, nothing would stop most customers from high tailing it with a totally paid off phone. Then att would be out $800 and would go belly up in a week. Remember, alllllllllll of that money goes to apple or Samsung. The only thing att wireless makes money on is wireless service. So without att making money off your service, they are not incentivized to pay $800 to apple on your behalf. 

ACE - Expert

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32K Messages

1 month ago

@lilred72 

Not so much 'fine print'. But that you have to ask sounds like you didn't properly read it before accepting the order.

Trade-ins are on an installment plan over 36 months (3 years) to get those promotional credits. You end it early, then you pay the difference losing any remaining credits.

Remember AT&T/Verizon/T-Mobile are all about selling service. The phones are a means to an end. So they make it more beneficial to you to stay for that time as opposed to trying to cut out early thinking you tricked them into a cheap/free phone to go with someone else. Not technically a contract, though it does have a similar setup.

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