Verizon, the 3rd largest mobile phone company, is joining the competition and switching to no-contract cell phone plans starting today, Thursday, August 13th, but it may come at a price too high for some.
Current Verizon customers will have the option of sticking with their current annual plan until it expires or switching to one of the 4 new plans available.
The 4 new plans, all of which have unlimited calls and texts, are as follows: $30 a month for 1GB of data, $45 for 3G, $60 for 6GB, $80 a month for 12G.
Data can be shared with these plans between a maximum 10 devices, but customers need to pay a flat monthly fee for each phone/device connected to the plan.
Smartphones will run you $20 a month, tablets and Jetpack mobile hotspots will be $10, and connected devices like smart watches will cost $5 monthly.
This means in addition to no more contracts, customers will also see cheaper bills, but it does come at a price.
Without an annual contract, the option of paying less than full price for the latest iPhone or other smartphone disappears.
Now, shoppers will have to sign-up for the company’s payment plan (subject to credit approval) if they can’t afford the phone.
They can then make monthly payments and pay the phone off at full price within 2-years.
So instead of paying $200 for a new iPhone you will pay the full $649 retail price.
That means even if you no longer want Verizon you’ll still be stuck in a contract of sorts with them until the payments are done.
Depending on your budget, that could factor into whether or not these plans will work for you.
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