Sunday, November 15, 2009
Verizon Wireless Doubles Early Termination Fee
According to reports from Engaget Verizon Wireless has doubled its early termination fee from $175 to $350. It's applied to anyone who has purchased a phone on the "Advanced Device List" after November 14th, 2009.
On bright side, for each month you complete of your contract, $10 is deducted from the $350 total. Unfortunately, even if you complete 23 of the 24 months of a contract, you're still sitting with $120 early termination fee. But that's still better than paying the $350 fee.
Its clear that Verizon is trying to keep its customers and their contracts. The low prices on phones offered to new customers isn't enough to keep them, so Verizon probably felt this is the best way to make sure they're getting their money's worth.
I'm not sure that this will keep anyone from second guessing choosing Verizon as their provider, but if you're looking to get a subsidized price on a Verizon phone just for the sake of reselling it on e-bay, you might want to think again.