Verizon Wireless doubles early termination fee, says its high-end phones are “getting more expensive”Posted: November 5, 2009
With a whole new line of smart phones coming onto the market, Verizon Wireless said that starting November 15 it is doubling to $350 the penalty fees for subscribers who leave their contracts early.
James Gerace, a spokesman for Verizon Wireless, the nation’s largest cell phone service, said the fees are for subscribers in one- and two-year contracts on an “advanced device” and that those fees will be pro-rated $10 a month. That means, if you’ve made it halfway through your two-year contract, the $350 penalty will be reduced $120 to $230.
Gerace said the company decided to raise fees because its highest-end phones and small wireless laptops are getting more expensive.