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Let me post what I did and hopefully more of you will save yourself the trouble of the SIM card nonsense.

1. Get the box it came in. Don't even bother opening it.
2. log into Verizon account online.
3. Click 'Activate/Add a device' and select the line you want to use.
4. Put in IMEI and SIM card numbers.
5. It will tell you to choose a plan, unlimited is still selected by default.
6. Done.
7. Now open up phone, tuen on, and enjoy :)

I followed the same process. However, my phone still wanted to show the dummy line number, so I gave Verizon a call. The first lady I spoke to told me that she was going to have to "mail" me a new SIM since the one that came with the phone was locked to the dummy line (not true, I hadn't gone through activation yet). I politely told her I could not wait for a new SIM to come in the mail and would just stop into a VZW store instead (i.e. hang up and call back until I got someone more sensible).

The second rep I got was very knowledgeable and finished the process on their end. He double checked everything on my account, had me eject and re-insert the SIM tray, and made sure my LTE was working. A few minutes later, I was up and running with the iPhone 5 on my usual line, no extra SIM needed.

Did that first rep REALLY think someone who was calling in to activate as the UPS guy was pulling away was going to wait until a new SIM got mailed? Sheesh..
 
I followed the same process. However, my phone still wanted to show the dummy line number, so I gave Verizon a call. The first lady I spoke to told me that she was going to have to "mail" me a new SIM since the one that came with the phone was locked to the dummy line (not true, I hadn't gone through activation yet). I politely told her I could not wait for a new SIM to come in the mail and would just stop into a VZW store instead (i.e. hang up and call back until I got someone more sensible).

The second rep I got was very knowledgeable and finished the process on their end. He double checked everything on my account, had me eject and re-insert the SIM tray, and made sure my LTE was working. A few minutes later, I was up and running with the iPhone 5 on my usual line, no extra SIM needed.

Did that first rep REALLY think someone who was calling in to activate as the UPS guy was pulling away was going to wait until a new SIM got mailed? Sheesh..

Yeah... the first rep was clueless. The same was true for me though... it wanted me to confirm the "dummy" line. I just went right past it though since I knew it meant nothing :p Cheers! Enjoy the new phone!
 
This is what my Verizon Active/Switch device screen looks like. The Greye'd out phone with the message on it is my dads phone (the one with the upgrade) that I used to buy my iPhone 5 for the upgrade price.

My line is the very first phone (the one I want to use the iphone5 on). Does anyone know what to do about my dad's phone? His phone is still active, he's been using it no problem. Should I just ignore it and activate straight away onto my own line?
 

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This is what my Verizon Active/Switch device screen looks like. The Greye'd out phone with the message on it is my dads phone (the one with the upgrade) that I used to buy my iPhone 5 for the upgrade price.

My line is the very first phone (the one I want to use the iphone5 on). Does anyone know what to do about my dad's phone? His phone is still active, he's been using it no problem. Should I just ignore it and activate straight away onto my own line?

Yes
 
I did.

I activated on the new line I added (with the rep on the line telling me to do so). Then she tried to switch it and said it gave an error and I'd need a new sim card. She called around to locate one and had no luck.. told me she'd fedex one at no charge next week.

Called back a few hours later and the new rep said the first one should have switched it around to the line I wanted it BEFORE turning on the iphone for the first time... but she'd be able to dummy out the line and let the sim sleep/age/timeout/whatever and I'd be able to do the change tomorrow (sat).

Also got a voicemail from the first rep at this point stating the same thing the second rep just told me.

Tried online after midnight... no luck.

Tried online this morning to switch and it worked. Took 15 or so minutes after the online switch said it went through. Had to log out and back into the online account to see the changes (don't know if it was still processing or if this helped to see the change in the account).

*228 on the old phone and programmed it to the new line (where the iphone came from) and I'm all set!

I added a line also (no upgrades eligible) so I had to activate the iPhone on the new line first or it would charge me an ETF on my bill.

So now I've been waiting to swap the iphone to my main line as planned. The rep I talked to stated that once the SIM is deactivated there is an "aging" time that has to take place. He was reading from his screen to me that it says once the SIM is deactivated the customer must wait until 7am EST the following day to reactivate on another line.

The good part is that I no longer have to go in for a new SIM card since nobody has any in stock. He also stated in order to keep the unlimited data the iphone has to be added to the main line as "CPE" or Customer Provided Equipment. Otherwise the unlimited data will not stick.

Just my experience and wanted to share.
 
I was able to take care of everything via my account on verizonwireless.com. Ordered the phone on my dumb phone dummy line I just opened, then switched the iPhone 5 with my 4S. Kept unlimited data, whole thing probably took 20 minutes including activation.

Went I went to a Verizon store (not a corporate store), they said I couldn't replace my iPhone 4S with the iPhone 5 and keep unlimited data. Don't know why, but it's lame. Anyways, took care of it myself. Hope this helps.
 
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