Terminating contract with Verizon

[timwalsh300]

Last month I returned from working overseas and needed a cell-phone. In a spectacular failure to do my homework, I went straight to Verizon (all I knew was that their coverage was superior to AT&T in my area) and asked for their cheapest option. I got a basic phone for $50, a two-year contract, and a plan that provides 700 minutes for $40/month. Let me be clear: I'm not a heavy user but as a mid-20s working professional I simply MUST be available 24/7 by both voice and text... After my second billing cycle I was not happy. I paid $52 to use only 90 minutes and receive a bunch of text messages from family/friends/co-workers (at $0.20 each).

Today I finally did some research and discovered the array of lesser-known pre-paid carriers. I kicked myself for signing a contract. Looks like I could have just paid full price for a phone and met my needs with a plan for just $12/month, and still be using Verizon's network with PagePlus. I knew there was a large fee to terminate my contract, but decided to look into it anyway given the huge difference in cost per month. To my delight, the fee is only $165, which is dwarfed by $1,200 in savings over the next two years.

This seems like the clear best course of action for anybody who is under contract, especially since the termination fee is roughly equal to the discount given on the phone, and you can keep the phone (which I intend to use with PagePlus).

Has anybody else done this and experienced any pitfalls?

Tim

 

[Chuckanut]

Have you checked with PagePlus to make sure the phone will work with them? I switched from Verizon to a prepay outfit several years ago. They prepay outfit used the Verizon network, but they would not allow me to use my own phone. I had to buy another one.

Later, a relative convinced me to join a family plan with him. Big mistake. After being assured my monthly cost would be the same and I would get more benefits, I found that the actual cost has doubled!! I was stuck in a 2 year contract. It will expire soon and I can't wait to go back to my prepay plan which will be at least $30 a month less, even less if I skip the data plan and have only voice and texting.

 

[Animorph]

Sounds much better to me. I've got a phone on order from Ting, which is a cheap "pay for what you use" MVNO on Sprint's network.

 

[RetireBy90]

Have you tried o add unlimited texting with Verizon? Full disclosure, I work for Internet side, but we have had like 5 different cell companies and find Verizon the best. All have some way to hit you for more $$$, like when my kid went away to college, but I added unlimited text for him and they let me pay the $10 for the month past rather than the much larger charge he had run up.

 

[Rowdy]

Sounds much better to me. I've got a phone on order from Ting, which is a cheap "pay for what you use" MVNO on Sprint's network.

Ting is awesome! 3 smart phones and 1 basic phone; average monthly cost over 4 months is $84. I have not noticed any noticeable differences in coverage compared to Big V.

 

[savory]

There are a couple of things I have done to keep my costs down. 1. I have a Google Voice number. I do my best to use that number (my computer) and keep my phone minutes below the minimum. In my case, we have a family plan with 750 minutes and do not go over. Clearly, this is a personal thing. With GV, I use my computer to make and take calls and with a blue tooth, it is very much like using a phone. 2. My data plan is also at the minimum. I really do not need to access it often so I may not be the best example. However, I use wireless whenever I can. And, I have a great App called Onavo which tracks usage and makes suggestions. For example, I have set most of my Apps not to be updated except when I am on wireless which saves a great deal of airtime. And, during the month, it helps me keep up to date on usage, among other things.

 

[timwalsh300]

Have you checked with PagePlus to make sure the phone will work with them?

The statement on their website basically says, "it might work, or it might not, and we aren't responsible for supporting it." But other people around the web say it should work as a Verizon phone coming off a postpaid plan.

Have you tried o add unlimited texting with Verizon? Full disclosure, I work for Internet side, but we have had like 5 different cell companies and find Verizon the best. All have some way to hit you for more $$$, like when my kid went away to college, but I added unlimited text for him and they let me pay the $10 for the month past rather than the much larger charge he had run up.

Yes, I can do that but then I'd still be paying $50/month whereas PagePlus and other prepaid carriers look like they can meet my needs for a fraction of the cost.

Tim