Verizon eliminates Contracts if you bring in your own phone.

Earlier Today while listening to Clark Howard , I heard some interesting news about Verizon dropping contracts for new or renewal customers under certain restrictions. A very interesting idea for those who are bargain shoppers and buy their phones on-line at a discount wishing to pay month by month.

Clark has a trio of exciting developments to share. First off, Verizon is doing away with contracts under certain conditions. Let’s face it, contracts are for cowards. Carriers had to default to them because of the industry’s spotty record of customer service. It was their way of preventing you from fleeing.

So here’s Verizon’s deal: If you already have a phone, you won’t have to get locked into a contract. You’ll only need a contract if you want Verizon to provide you with a subsidized phone when you sign on as a customer.

Clark applauds Verizon’s move and hopes it will prompt the other 3 carriers to eliminate contracts too — unless you’re getting a subsidized phone. – ClarkHoward.com

By “subsidized” phones, Clark means high-end phones that are discounted drastically to lock you into a 2 year contract. Now even if you don’t buy your phone on-line or the store has the one you want, you’re able to buy the phone for the full price to avoid a contract. You will spend more upfront, but if you one that doesn’t like contracts it’s an expense you can afford upfront.

Also remember if you are coming up on your contract expiration and satisfied (or making do) with their current service, make sure when it’s time to renew that you buy a cheap $20 phone on Ebay.com and have them switch the contract over and note your account to pay month by month. VERY IMPORTANT that you go into the store or call to get out of the contract as most store will automatically renew your contract if you don’t cancel when the term is set to expire and you’re still a paying customer.

Verizon will most likely not plaster this all over their site or on ads and use it as a way to retain those customers who are on a budget so make sure if you’re signing up for a new service with them you explicitly ask them about this program.

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