by MyRatePlan Staff on January 27, 2010
We’ve created a new tool to let consumers calculate the termination fee associated with their cell phone contract. The calculator takes into account variables such as contract period, carrier and device type to customize an answer specific to each person’s situation. You can try out the early termination fee calculator on the site or see the termination fee schedules of all four national carriers. Alternately, you can try out the widget below or grab the code and embed it on your site or blog.
Code:
by MyRatePlan Staff on January 19, 2010
Verizon has apparently reduced the number of phones subject to the $350 early termination fee for advanced devices. This termination fee, double the standard $175, was added for new contracts and renewals associated with these devices as of November 15, 2009. The current list appears to be limited to smartphones (including BlackBerry and Android devices) and netbooks. A review of a prior version of the schedule showed that as of last Friday this list contained a number of multimedia devices such as the LG enV Touch and Samsung Rogue.
MyRatePlan Analysis: If there is justification for a higher early termination fee, this new shorter list of devices makes more sense. Verizon has been taking some political heat for the higher termination fees. In their response to an FCC inquiry last month, Verizon talked at length about the large amount of subsidy below cost for these devices (vs. other phones), saying that this amount alone justified the higher early termination fee. Some of the devices removed likely cost Verizon quite a bit less than true smartphones. In addition, Verizon has introduced new pricing this week requiring a data plan of at least $9.99/month on several of the removed devices. It is possible that the incremental revenue associated with this new pricing structure also led to the pullback in what is considered an ‘advanced device’.
On a related note, check out our new termination fee calculator.
Tagged as:
termination fees,
verizon
by MyRatePlan Staff on January 18, 2010
AT&T and Verizon have lowered their unlimited pricing to $69.99/month, $89.99 for unlimited voice & text, $99.99 for unlimited voice, text and data. Similar decreases are also in effect on the family plan side, where two unlimited lines are $119.99 vs. the previous $199.99. This is a decrease of about 30% for a single line, 40% for a family plan. Verizon also reduced its 2,100 minute plan to 2,000 minutes, and cut the price by $10. The carriers are allowing customers to change to these rate plans with no penalty or contract extension.
- If your rate plan is more than the above amounts, contact the carrier directly to switch, subject to the exceptions in the list below. For customers who have gotten a rate plan in the last couple years, most people on a 1,350 minute or unlimited single line plan will benefit, as will most on a family plan higher than 2,100 minutes. Verizon customers on a 2,100 minute plan who don’t use more than 2,000 minutes can save $10 a month by switching to the 2,000 minute family plan.
- If your carrier is AT&T and your phone is a ‘quick messaging’ device (basically a non-smartphone with a QWERTY keyboard) and you do not currently have text and/or data bundle, AT&T may make you add some combination of these these that totals $20 or more per month ($30 for a family plan). That would reduce or eliminate your savings.
- If your carrier is Verizon and your phone is a 3G multimedia device (currrently LG enV Touch, Samsung Rogue, LG Chocolate Touch, LG enV3, LG VX8360, Motorola Entice, Nokia Twist, Samsung Alias 2), and you do not currently have a data plan, Verizon may make you add a $9.99 data plan (for each of these phones on the plan). That would reduce or eliminate your savings.
- If you are in the final two months of your contract or your contract is over, MyRatePlan can help you get a substantially discounted phone if you renew your contract online. This is regardless of the rate plan you are currently on, but is subject to the requirements above. AT&T offers || Verizon offers
Tagged as:
AT&T,
cell phone plan,
verizon
by MyRatePlan Staff on January 15, 2010
Verizon Wireless announced significant price reductions for those customers looking for unlimited monthly service. The new rates will be available January 18 for new customers. Existing customers can also change their rate plans as of that date with no penalty or contract extension.
We’ll have the new pricing up on the site Monday and you can compare it to other carrier plans using our CellCalc (TM) rate plan finder.
The major changes announced iclude:
- Price for unlimited voice plan drops from $99.99 to $69.99
- Unlimited voice + text drops from $119.99 to $89.99
- A $9.99 data plan will be required for new activations on all 3G multimedia phones. These are phones, such as the LG enV 3 that provide a better data experience but don’t have an operating system that would qualify them as smartphones.
- Monthly prepaid plans will be available for $5 more than comparable postpaid plans. Examples include $44.99 for 450 voice minutes to $124.99 for the unlimited voice + text listed above.
MyRatePlan Analysis: This plan structure is similar to one introduced by T-Mobile a couple months back and is another step toward the day when there will basically be one plan for light users and unlimited for everyone else. Verizon maintains a premium over T-Mobile pricing, although the difference will shrink considerably. Perhaps perceived differences in network quality were not enough for consumers to justify paying $99.99 for a service that was available for $50-60 everywhere else. Since AT&T pricing structure was almost identical to Verizon’s, that carrier will likely be forced to modify rates in the weeks ahead.
Some of the revenue loss from this new pricing, to the extent it isn’t recouped by gaining market share, will be offset by the new $9.99 data plan requirement on 3G multimedia phones. Currently, Verizon (and all national carriers) require a data plan on smartphone/BlackBerry devices that is roughly $30 a month. Verizon is the first carrier to push that requirement onto this next tier of phones. Since this list includes most of the popular Verizon phones, the effect is that almost all new Verizon customers will be required to have a data plan.
The new prepaid monthly plans provide a way for customers reticent to sign a contract to get full-blown service for about the same price as contract customers. However, as is usually the case, we expect the phone prices to be significantly higher. It also isn’t clear yet whether all phones will be available for no-contract service. If they are, it will be a significant improvement from the limited inventory currently offered. It is interesting to note that while T-Mobile offsets the higher phone cost of no-contract by having its plans priced $10 LESS per month than contract, Verizon’s new structure will still have prepaid priced higher than contract plans.
Tagged as:
cell phone plan,
verizon
by MyRatePlan Staff on December 1, 2009
This is a nice benefit we just came across, associated with the Citi Forward Credit Card:
Use your Citi Forward card to pay your cell phone bill and get free protection (up to $250) from damage and theft. All phones (including iPhones and smartphones) from all telecom providers are covered.
If you don’t want to spend $5 a month for cell phone insurance, but still want some coverage, this might be an easy way to do it.
This is a very attractive credit card, especially if you pay off most or all of your balance each month. 0% APR for 6 months, no annual fee and a generous rewards program.
To apply for the Citi Forward Card, click here.
Tagged as:
cell phone insurance
