Verizon, T-Mobile and AT&T trade-ins versus selling your phone for cash

How carrier trade-in credits work

Verizon's trade-in FAQ says promotional value is credited over the number of months set by the promotion, rather than all at once. T-Mobile's and AT&T's offer terms describe the same shape: the value is generally applied as monthly bill credits, and it can take a billing cycle or more before the first one appears. Each carrier also offers other ways to be paid in some cases, such as a gift card or a one-time credit, so read the exact offer on the carrier's own site. The point to take away is that the headline number in a trade-in ad is generally something you receive in installments, not on the day you hand the phone over.

The catch: staying on the plan

Verizon says that for its plan-based promotions the line has to stay on that plan for the full promotional period to keep the discounts, and that moving to a plan that does not qualify loses the rest of the promotional value. T-Mobile and AT&T terms generally say that cancelling service ends the remaining credits and leaves the balance on the device agreement due, and that paying off the device early can stop credits too. None of that is hidden, but it matters: a credit you can lose by switching carriers or changing plans is a reason to stay, whether you meant to or not. If you might switch in the next few years, ask yourself whether the credits are really yours.

Trade-ins are final once the phone is sent

Verizon's page says a trade-in is final once you accept the credit and the device goes back, and T-Mobile's terms say the same: after you accept and send the phone, you cannot get it back. So read the offer carefully before you ship anything, and keep a record of what you were quoted.

How selling for cash differs

With us, the money is not tied to anything. You text or call (518) 501-0602 with the make, model and condition, or send a photo, and we tell you the same day whether it is something we can buy. We meet one seller at a time by appointment in the Albany area, or come to you anywhere in the Capital Region, and you are paid in cash before we leave. Your plan, your carrier and your next phone have nothing to do with it. If you decline, you keep the phone. The how it works page walks through each step.

When the carrier trade-in is the better pick

If you were going to buy your next phone from your carrier, plan to stay on the same plan for the whole promotional period, and want the lowest monthly payment on the new phone, the trade-in credit does real work for you and you should take it. Just make sure the new phone and the plan are what you would pick without the credit.

When cash is the better pick

Cash is the better pick if you want the money now, if you might switch carriers, if you are buying your next phone somewhere else, if the old phone is not on a carrier promotion at all, or if you have more than one device. We also buy tablets, laptops, consoles and cameras, so the carrier is not the only place a drawer of old devices can go. Tell us what you have through the phones page.

Before you sell or trade in

A phone that is still being paid off on a device agreement may not be eligible for a trade-in or a sale until it is cleared, so check your balance first. Then back up the phone, sign out of your Apple or Google account, and reset it. A phone still tied to an account cannot change hands. The before-you-sell guide covers the steps for each kind of device.

Quick answers

Do carriers pay cash for a trade-in?

Generally no. Verizon, T-Mobile and AT&T mostly pay trade-ins as credits on your bill over many months, with a gift card or one-time credit in some cases. Read the exact offer on the carrier's own site, because it changes.

What happens to my trade-in credits if I leave my carrier?

You generally lose the credits that have not been applied yet. Carrier terms say cancelling service or leaving the qualifying plan stops the remaining credits, and the balance on the device agreement can come due.

Can I sell a phone I am still paying off?

Usually not until the balance is cleared. Verizon says devices on a payment agreement are not eligible for its trade-in until the agreement is paid in full. Check your balance with your carrier before you sell to anyone.

Is a carrier trade-in worth it if I am buying a new phone from them?

It can be. If you plan to stay on the plan for the full credit period and you are buying the new phone from that carrier anyway, the credit does real work. If you may switch, cash today is safer.

Where can I sell my old phone for cash near Albany, NY?

Cash For Electronics Albany pays cash in person for phones, by appointment in the Albany area or at your door across the Capital Region. Use the quote form on the phones page or text us the model and condition.

Ready to ask about yours? Visit Sell your phone for cash in Albany: a local phone buyer near you. See our overview of who buys used electronics for cash in Albany. See our Apple Trade In or selling for cash. See our GameStop and Best Buy trade-ins. See our before-you-sell guide. Back to all guides.