Black Friday Verizon Phone Deals: Top Offers, How to Save, and What to Buy

Thinking about a new phone this Black Friday? It’s easy to get lost in a sea of “FREE PHONE!” ads from carriers like Verizon. As many of us have learned, however, a “free” phone is rarely ever free—there’s usually a catch hidden in the fine print.

The key to navigating the chaos is knowing that most holiday phone promotions follow a predictable playbook. By looking back at the exact deals Verizon offered in 2020, we can decode the patterns behind the prices. This breakdown reveals how a “free” iPhone really works, what common requirements mean for your wallet, and exactly what to ask before you buy, so you can spot the best deal for you.

Summary

Verizon’s 2020 Black Friday phone deals hinged on monthly bill credits tied to 24–36 month device payment plans, meaning “free” phones weren’t free upfront. The biggest discounts required either a trade-in of a newer device, adding a new line (especially for “on us” and BOGO offers), and enrolling in a pricier Premium Unlimited plan—often the real hidden cost. These offers created long-term commitments where canceling early forfeited remaining credits, and rivals like AT&T used nearly identical structures. Use the four-question checklist to calculate the true cost before you buy.

The One Secret You Must Know: How ‘Bill Credits’ Really Work

The key to understanding almost any Verizon phone deal is one concept: bill credits. It’s the magic ingredient behind nearly every “free” phone or “$800 off” promotion, including the biggest ones from 2020.

So, how does it work? Instead of just handing you a free phone, Verizon first has you buy it on a Device Payment Plan. This simply means the full cost of the phone is split into 24 or 36 equal monthly payments that get added to your bill. Then, to make the phone “free,” Verizon applies a matching “bill credit” each month that cancels out the payment. Think of it like a rebate you get in small monthly pieces instead of all at once.

This system is the reason why a deal is also a commitment. Those credits only keep coming as long as you stay with Verizon for the full 24 or 36 months. If you decide to switch carriers after a year, the credits stop, and you become responsible for paying off the remaining balance of the “free” phone. Verizon used this very system in 2020 to turn customers’ old phones into massive coupons for brand-new ones.

How Verizon Turned Your Old Phone into a ‘$700 Off’ Coupon in 2020

Beyond attracting new customers, Verizon’s 2020 Black Friday deals were also a huge opportunity for current ones. The most common way to save was by upgrading an existing line and trading in an old phone—a familiar concept, like trading in a car at a dealership. The key difference was in how you received your money.

The Verizon trade-in value for new smartphones wasn’t an instant discount. If your old device was valued at, say, $700, you didn’t pay $700 less at the register. Instead, Verizon paid you back that $700 with a monthly bill credit (around $29/month for 24 months) that lowered the cost of your new phone payment.

Of course, getting the maximum discount depended entirely on what you were trading in. The biggest offers, like the best Verizon iPhone 12 deals for Black Friday, were reserved for people trading in the most recent and expensive models, like the previous year’s iPhone 11. If you had a phone that was three or four years old, the trade-in value was significantly lower.

There was one more important rule: getting that top-tier trade-in value often required you to be on one of Verizon’s premium Unlimited plans. So, to get the biggest discount, you needed the right phone to trade and the right monthly plan. When all those pieces aligned, it was the key to unlocking the most famous Black Friday deal of all: the “free” phone.

What Did It Really Take to Get a ‘Free’ Phone from Verizon?

The most exciting Black Friday ads are always the ones screaming about a “free” phone. In 2020, top models like the Samsung Galaxy S20 were part of these deals. The secret was almost always tied to one major requirement: you had to add a new line of service. This meant either adding a phone number for a new family member or switching your own number over from a competitor like AT&T or T-Mobile.

This “new line” rule often caught existing customers by surprise. If you were already a Verizon customer simply looking to upgrade your own phone, you typically couldn’t get these specific “on us” deals. Instead, you’d be pointed toward the trade-in offers. Verizon’s goal with these aggressive 5G phone deals for new customers was to grow its subscriber count, rewarding those who brought new business to the network.

Even with a new line, the phone wasn’t handed over for free at the counter. Just like the trade-in promotions, the “free” part came from bill credits. Verizon would cover the phone’s cost by applying a monthly discount to your bill for 24 or even 36 months. This “new line” requirement was the crucial building block for the most powerful—and tricky—offer of all: the “Buy One, Get One” deal.

Decoding the ‘Buy One, Get One’ (BOGO) Deal: The Most Powerful—and Tricky—Offer

Beyond the deals for single switchers, Verizon’s most aggressive promotions were the classic “Buy One, Get One” (BOGO) offers. These were often the best Verizon iPhone 12 deals for Black Friday, and they applied to popular Android phone discounts as well. For shoppers like a couple needing two new phones or a family adding a teenager to their plan, this deal sounded perfect. But how did it actually work?

In practice, the BOGO deal was a combination of all the rules we’ve discussed. You had to:

1. Buy two new smartphones, often flagship models like the iPhone 12 or Samsung Galaxy S20.

2. Add at least one new line of service to your account.

3. Get the second phone’s cost credited back to your bill over 24 or 36 months.

This is where the commitment came in. You were not just committed to Verizon for the length of the payment plan, but you were also committed to paying for service on both lines for that entire period. If you decided to cancel the new line after a few months, you would forfeit the remaining bill credits and would suddenly owe the full remaining price of that “free” second phone.

So, when did BOGO deals make sense? They were a fantastic value if you were already planning to add a new line and stick with Verizon for the long haul. But this powerful deal came with one more major requirement that affected your monthly bill more than anything else.

The Hidden Cost: Why Your ‘Unlimited Plan’ Choice Mattered Most

That final, crucial requirement was all about which monthly plan you chose. To get the best Black Friday deals—whether it was a BOGO offer or a huge trade-in credit—Verizon required you to sign up for one of its more expensive “Premium” Unlimited plans. The company’s cheaper unlimited plan, while perfectly fine for many people, simply wouldn’t qualify you for the biggest savings on a new phone.

This requirement is critical because not all “unlimited” plans are created equal. In 2020, the difference between a basic unlimited plan and a premium one could be $10 to $20 more per line, every single month. This rule applied across the board, from the top-tier iPhone deals to the Google Pixel 5 Verizon discounts. It was the hidden gatekeeper for the best prices.

So what did this mean for your wallet? That seemingly small $20/month plan difference adds up to an extra $480 over a two-year payment plan. Suddenly, a deal giving you “$800 off” a new phone only really saves you $320 when you factor in the mandatory, more expensive service. This hidden cost was the single most important factor in figuring out if a deal was truly a good value, or just a clever way to get you to pay more in the long run.

Were Verizon’s 2020 Deals Better? A Quick Look at AT&T’s Offers

You might be wondering if jumping ship to a competitor would have landed you a better deal. A look back at the Verizon vs. AT&T Black Friday phone offers reveals a surprising truth: they were playing the exact same game, just wearing different jerseys.

AT&T also advertised “free” iPhones and “up to $800 off” Samsung devices. And just like Verizon, these deals required you to buy the phone on a long-term payment plan, sign up for a pricey unlimited plan, and receive your “discount” as monthly bill credits. The core mechanics were identical, reinforcing that these rules are the industry standard.

The most important choice you’ll make isn’t about which company has a slightly different BOGO offer, but about which one provides the best network and plan value for your specific needs and budget long-term.

Your Black Friday Game Plan: 4 Questions to Ask Before You Buy

You no longer have to take a “FREE PHONE!” ad at face value. Now, you can spot the hidden mechanics—the monthly credits, plan requirements, and long-term commitments—that determine the real price. Before you sign anything, ask these four questions to reveal the true cost:

1. How is the discount applied (instant or monthly bill credits)?

2. How long is the commitment period (24 or 36 months)?

3. What are the exact requirements (new line, trade-in, specific phone)?

4. Which specific monthly plan do I need for this deal, and what does it cost?

With this checklist, you know exactly how to prepare for Verizon’s Black Friday sale. You’re no longer just a shopper hoping for a good deal—you are a confident buyer, equipped to find the right one. You can walk into the conversation knowing exactly what to ask to get the phone you want without any surprises on your bill.