Now, Verizon’s back with another perk for loyal customers regarding the Galaxy S6 and S6 edge. Perhaps you’ve been the lucky recipient today of a message from the company with the following message:

A special EARLY upgrade offer for our loyal customers: For a limited time, get the new Samsung Galaxy S6 with Verizon Edge when you trade in your current smartphone.

We’ve done some investigation into the new loyalty perk to cut through the red tape and find out the caveats that you can expect to encounter should you take advantage of this deal. First, keep in mind that it’s “for a limited time,” which means that the deal won’t last forever (so don’t sit on it and wait too long).

Next, the deal is only for the Verizon Edge plan, but there are two different Edge plans. The first plan, called “Regular Edge,” allows you to pay off the cost of your smartphone each month (with no money down) but doesn’t require you to trade in your device when you get a new smartphone (no early termination fees, either). However, there is also an “Early Edge” plan, and the Early Edge plan is the only one up for grabs here. So, essentially, this means that you can only get the Galaxy S6 with an Early Edge plan – and you must (key word here) trade in your device when you upgrade to say, the Galaxy S7.

There is yet one more obstacle to the deal. In order to take advantage of this plan, you must have already served one year of your two-year agreement. If you’ve served 10 months with a smartphone contract, you’re still not eligible for this deal. Only customers who’ve been in their contracts for 12 months or longer have eligibility for the Early Edge plan.

Other things to keep in mind with the Early Edge plan is that, while you pay no money down for your smartphone (no $249, $299, or $199 up-front payments), you do still cover the activation fee (which can be billed to you, if you’re in good standing with Verizon), and you pay $20-$30 a month extra on your bill. Once your phone is paid off, however, the monthly subsidy for your bill is eliminated, leaving you with paying for only the service along with the usual taxes and fees. Lastly, this offer applies to the S6 edge as well, so Galaxy S5 customers may prefer the Edge to its non-Edge “sibling.”

This is all the information we’ve gathered for now from Verizon about the new loyalty early upgrade. Do you have any questions about the new loyalty deal you’d like to ask us? If so, write in and let us know. If you take advantage of this deal, we’d love to hear from you too.