I'm planning on upgrading to iPhone 6 plus on refresh, £48 month, but I know there is a 6-7 week wait for it to arrive, I'm thinking of using O2 recycle to get rid of my iPhone 5 32gb and getting the value credited to my O2 account which at the moment is £168. My question is how would this credit work on my account i.e. would £7 a month be taken off my account over the 24 months new contract or would the full £168 be taken off price of phone or the tariff straight away?
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What ever you owe on the new phone ie £49:95 for new upgrade and any thing else you buy in the shop like screen protector car charger will be deducted from the amount you get for your old phone. The rest goes into your bank account for you to use however you like.
Yes I was offered it against my account. I am guessing that your monthly bills ( tariff and phone charge) would be deducted each month until all the credit was used up then they would direct debit you as usual. That's how it's worked for me before when I have been given a credit.
I had a terrible experience with the O2 Recycle service. The phone I sent them was in near mint condition, but they drastically reduced the amount they promised to pay due to 'wear and tear' (I could have asked for them to return my phone, but would have incurred extortionate return postage and handling costs). I later read up on other peoples experiences and found the reducion in what they will pay after sending off perfectly good phones to be standard procedure with O2 Recycle, and I came out of the experience feeling totally ripped off. Oh, and to top it all off, they took an age to pay up. If I were you, I'd look to trade my phone in with one of the other alternative phone recycling companies. I've used Mazuma once and they paid the full amount promised, and within a day of receiving the phone.