The credit will cover the full price of the phone.
Brad's Deals Editor Michael,
Open a new line of service at Verizon and you'll qualify for a credit covering the full cost of an iPhone SE (2020). You'll be able to claim the credit whether you select the monthly payment option or choose to pay full retail price today. As a bonus, the activation fee for your new phone will be 50% off. All together, this deal saves you at least $420. Shipping is free. Sales tax is charged in most states.