I sent an iPhone 4 to Verizon as a trade-in on 9/22. To this day, the online status shows no details whatsoever, even though it should at least show the device, the estimated amount of the trade-in, the date it was submitted, and whether or not it has been received. My wife sent in her iPhone 5S a month after I sent in the iPhone 4 and she already got her gift card back. More importantly, the online status for her trade-in always showed SOME information, unlike mine which has never shown ANYTHING. I have reported this to Verizon and they keep giving me canned responses. More outrageously, they were asking me for the tracking number for the package, even though they tell you that you MUST use their envelope, which does not have a tracking number and which does not allow you to add that as an option.
Put simply, Verizon screwed up something on its end and they kept my iPhone 4 and didn't give me the $200 they promised. Since I can't get anyone from Verizon to give me a satisfactory answer, I will be filing complaints with the FCC, the FTC, and my state's attorney general's office. I strongly encourage everyone else who's had similar experiences to do the same. Verizon is the 800-pound gorilla in wireless, so they think they can get away with this scam. I trust that our consumer protection agencies won't let them rip us off like that.