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I just want to post a warning here for anyone thinking about trading in their older iPhones or any phones for a "gift card". 

DON"T SEND YOUR PHONE TO VERIZON.

Here's why...

I recently upgraded my iPhone4s to an IPhone5s and hoped to receive what Verizon told me would be a $200 gift card for my old phone.  I answered all the questions in the condition questionaire truthfully and was sent confirmation by email that I would be receiving the "$200" gift card once Verizon received my old IPhone 4s.

I sent the IPhone4s to Verizon last week in the envelope and packaging provided to me.  I folllowed all the steps clearing the IPhone and disabling the IPhone Finder function.

Yesterday I received an email saying that my gift card was only going to be $76 instead of the $200 promised.  There was no number to call on the email so I ended up calling Verizon's main line and talked to a woman named Wanda who also had a very hard time finding the correct number to call about the gift card.  I spent about 45 minutes on the phone and finally was transferred to the Verizon Gift Card department where I was told by a not so helpful representative that the reason why the gift card was $76 instead of $200 was due to a problem with the charging port.  There is no problem with the charging port.  I have owned the phone for the past 2 years and charged the phone without issue up until the day I sent the phone to Verizon.  In fact the phone probably had a full charge when they received it.

I asked what Verizon will do to correct this problem and the representative told me it would take 7-10 days for them to research it.  I was counting on the promised $200 to help pay the Verizon bill due in a few days.  10 days to research an issue like this is excessive.  It took them 2 or 3 days to appraise the value of the phone at $76.

I have been a Verizon customer for the past 12 years.  I currently have all my services with Verizon including phone, FIOS internet, and FIOS TV.  I spend over $250 a month for Verizon services.  Is Verizon willing to lose a paying long standing customer over a $124 error that they are refusing to correct?  At this point it seems like it and I want this post to be a warning to anyone who is thinking about trading in their older phones.