Got a mobile phone? Get ready to spend a little more because mobile carriers are raising their rates and changing their policies.
The two companies leading the charge are T-Mobile and Verizon. T-Mobile has revised its Price Lock policy, which will now affect new customers.
If you’re an existing customer with a Price Lock plan, you won’t see any changes. However, new subscribers will be subject to a new policy – one where T-Mobile commits to covering the cost of their final month's recurring service charges if they choose to leave the service due to a price increase.
Verizon recently emailed some customers about a price increase of $4 per line, per month on certain plans, including Play More Unlimited, Do More Unlimited, Get More Unlimited, and 5G Ultra Wideband. Those price changes happen starting March 1 and the move is seen as an effort to encourage customers to switch to newer, potentially more expensive plans.
Verizon has also been involved in a class action settlement, where customers who purchased a traditional, postpaid wireless plan in the past seven years could receive up to $100 in a proposed settlement.
For the rest of you
For non-Verizon and T-Mobile plan holders, it’s been reported that many households should expect to see price increases of up to 7.9% for their broadband and mobile phone contracts in the coming months, due to inflation-related cost increases.
Time to break away for a better deal?
If you are looking for more affordable options, there are plenty to be found – companies that remove some of the frills, but also don’t put consumers in a bind with long-term contracts.
For example, PureTalk has low-data plans ideal for seniors with no contracts and no hidden fees. The service uses the AT&T carrier network which is basically like having an AT&T account but without the restrictions. Riding piggyback on carriers like AT&T, T-Mobile, and Verizon is always a plus when it comes to saving money.
Additionally, research suggests that Americans may save money by switching to lower-cost plans with fixed data amounts or by choosing low-cost mobile phone companies that offer similar network coverage at a lower price.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-02-13 17:14:20
