Major cell phone company ends customer contract requirement

Contracts have always been part of the deal when it comes to cell phones but this could be the first move toward a more free market.

Several companies including T-Mobile had already offered some deals contract free but this will be the full monty.

T-Mobile’s website says some of the new deals include an unlimited talk, text, and web plan for $50 a month. The drawback, as always is how much data use you get in that deal. 500MB comes with the $50.00 plan with an upgrade to unlimited data for $70 a month.

The other catch, you will pay more for your phone and in many cases, a LOT more.

Cell phone companies normally kick in with credit when a plan comes with a contract.

Read more details here.

That can take then price of a phone that could run up a bill as high as $700 down to a more affordable $200.

T-Mobile says they will get around the big up-front cost by charging a fee upon sign up and then adding around $20 per month to the average bill.

That extra fee would stop once the phone was paid for.

T-Mobile is the fourth largest carrier in the US and has been losing contract customers at a rapid pace.