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Mobile Phone Plans Have Morphed: 5 Things to Know

With Apple’s new phones coming, along with Samsung’s Note 4 and Note Edge, you may be thinking about upgrading.

What you may not know is things have changed with carrier plans too, giving you more options.

In the old days (about six months ago), a two-year contract was the gold standard. Now new carrier monthly installment billing options without contracts are gaining popularity with consumers, especially those with family plans.

Here’s what’s so appealing about this new option:

1. Pay $0 down
Well-qualified customers can leave the store with a new Apple iPhone or Samsung Note for $0. Instead, you pay a monthly fee for the hardware (averaging around $27 a month) that’s added to your phone bill.

2. Upgrade your phone starting at 12 months
For those who want to be the first to get the latest and greatest smartphone, installment billing plans allow for the most flexibility. You are able to turn in your phone for a newer model after 12 months.

3. Get $10 to $25 off your monthly plan
If you have a family plan, installment billing plans can be a great option. If you have four or more phone lines on the same plan, you’ll pay less over time on installment billing plans than on traditional two-year contracts.

4. Avoid activation fees
When you purchase a new phone on a traditional two-year contract, you’ll have to pay an activation fee (typically about $35). With the installment plans, some of the carriers waive activation fees completely.

5. Compare carriers
Because AT&T, Sprint and Verizon Wireless all offer two-year plans and installment billing options, you’re able to choose the plan that best fits your needs.

Want to learn more? Stop by your local Best Buy or Best Buy Mobile store and a Mobile Specialist can walk you through your options.

Best Buy and Best Buy Mobile stores offer both traditional two-year contract plans from AT&T, Sprint and Verizon Wireless as well as new monthly installment billing plans including AT&T Next, Sprint Easy Pay and Verizon Edge.

For more information, click here.