In case you’ve been too caught up in the presidential campaign or the recent roller coaster of a ride in the stock market, Verizon Wireless has announced a month-to-month contract option that eliminates early termination fees.
In September, Verizon announced a new “month-to-month” plan that would allow new users or existing users the option of getting out of those annoying cellular contracts that most of us have been stung by in the past.
New Verizon customers have the option of signing a month-to-month, one year or two year contact.
And, existing Verizon customers can enter into a new month-to-month contract once their current contract is up. So where does the small print come into play with this deal (Because we all know, there is always small print in a cellular contract)?
New users that sign up for the new month-to-month deal are now required to pay full price for their Verizon Wireless phone, which means no more subsidized phone prices. Existing users can use their current device without any penalty.
So basically, Verizon had decided to waive early termination fees, but will make that money back through phone sales - possibly even make more now!
For example, a new LG Chocolate phone from Verizon is free with a two-year contract, according to Verizon's website.
The same phone tethered to a month-to-month contract is $299.99. And as most of you know, Verizon’s early termination fee is $175, but does decline $5 for every month a user stays with the contract after the 30 day trial.
Hmmm? So if we do the math correctly, Verizon will actually come out $124.99 better off in month-to-month scenario that I mentioned above. In short, it comes down to how often you upgrade your phone and how long you plan on staying with your cellular provider.
This post was contributed by eXpansys plc, the owner of the eXpansys brand, the largest wireless technology online retail business in Europe and the USA.