Early Termination Fees for Cell Phone Contract
MyRatePlan Early Termination Fee Calculator
How much will I owe if I end my cell phone contract early?
Your cell phone contract is a legal agreement that includes a penalty, in the form of an early termination fee, for breaking it. The carriers justify these fees in a number of ways, the most legitimate of which is that new subscribers usually receive a phone worth hundreds of dollars for free or nearly free. However, with two-year contracts now the norm, and with average bills increasing due to the growing popularity of messaging and data plans (the latter now required at all national carriers to get a Smartphone or BlackBerry), the upfront cost of these devices is recovered well before the contract ends.
As a result of these changing market conditions, along with some prodding by the government, all the major cell phone providers now prorate their early termination fees based on the amount of time left in your contract.
How do you estimate your potential cancellation fee? A cancellation fee for early termination (but after the initial return period) of a contract can cost up to $350.00. By using the tool below, you can estimate the cancellation fee your carrier (AT&T, Sprint, Verizon) will charge you to get out of your contract early.