In the past couple years, we've seen mergers between multiple cell phone providers, there have been new policies developing right and left, and of course the hardware has been rapidly changing. But there's one annoying thing that's stayed the same, until now, and that's the ridiculous early cancellation fee.
Even if you want to cancel your 2-year contract two months before it's over, you'd have to pay a three-digit amount, upwards of $200. It would cost you the same to cancel the day after you sign your contract. Verizon wants to change that, and in turn put pressure on other providers to do the same.Under Verizon's proposed new plan, there would be a descending scale that would factor in how much time you have left on your contract in determining the cancellation fee, instead of a simple flat fee.
When asked about Verizon's announcement, Sprint, Cingular, and T-Mobile all gave the typical PR-speak, saying they're always looking for ways to improve customer service but have no changes in the works at the moment.
I imagine this move won't hurt Verizon much in lost potential early cancellation profits. The reason behind this move has got to be that they want to look more flexible, and hope to catch new customers that are afraid they might not be able to hang on to a long-term contract.
Report Published by: Mark Raby
Don't Miss: iPhone 8: Everything You Need to Know
How To: Buy a Pokemon Go Plus