I have a question about the EIP program and the Free iphone 7 promotion. I ordered the iphone 7 through tmobile.com. I got it, and sent my old Iphone for Trade-in. Today I got a credit of $265 applied to my account for the trade-in
The way I understood the promotion is that I will get 24 credits for the amount paid, not including sales tax/downpayment for the iphone 7, minus the trade-in value. So in my case, $650 - $265 = $385 / 24 = $16.04
A credit of $16.04 will be applied to my account for the next 24 months, which it isn't enough to cover the EIP monthly payment, since the trade-in credit was applied to the account, and not the EIP plan, meaning the full $650 / 24 = $27.09.
I called Tmobile customer service, and ask them why the credit was applied to the account, and not the EIP plan for the Iphone 7. I was told that the trade-in credit could be applied to the EIP plan if I wanted to instead, so I agreed.
Now the balance for the Iphone 7 shows up as $385 on the EIP, and not the full $650, which it is correct. However, it seems that instead of the monthly payments getting adjusted to the new balance divided by 24, meaning $16.04; they remain $27.09, and just the payments remaining were reduced from 24 to 15, which you could say great, I am going to finish paying the phone sooner.
My problem is that the free iphone promotion states that you will get a free iphone, but you get so during a 24-month period. Well, my EIP balance is now 15 payments, because of the trade-in credit, so how is that going to work now? Am I still going to get the EIP credits for months 16 - 24, since technically there won't be a balance on that EIP account anymore?
Your comments are appreciated.