Verizon is making two-year contracts even worse for customers
If you’re on Verizon, you’re familiar with the company’s premium pricing structure. That’s been a fact of the company for a while now, and it isn’t about to change for the better anytime soon (if you want that reliable network, you have to pay). In fact, with some Verizon contract changes today, it’s getting worse, as the carrier is introducing changes to its Early Termination Fee policy.
Previously, for each successfully completed month of service, your $350 ETF would decrease by $10 until your 24-month period ended and you were entirely off the hook. Now, if you sign a two-year agreement after November 14, you won’t be able to get $10 reductions until you are a full eight months into your contract term. That means that if you find a compelling wireless option elsewhere in, say, six months, you’ll have to pony up a full $350 to get out of your Verizon predicament.
The new policy has your ETF decreasing $10 a month between months eight and eighteen, $20 a month between months nineteen and twenty-three, and $60 in the final month of service. This is a pretty major increase in pricing, depending on how you look at it. For those of you who plan to last your entire contract on Verizon, you’ll be seeing just about zero changes.