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Verizon Cutting Early Termination Fee

While not directly cutting the early termination fee altogether, they are going to prorate it. That can be a big deal. For example, a year after you sign up for service, the ability to cancel for half the total termination fee is a consumer bonus. While the fees themselves seem somewhat unfair, I suppose it is one of the drivers keeping the prices of phones and plans lower. I really hope I am not wrong about that. Otherwise it would have to just be a cash cow, much like Blockbuster’s late fees accounted for up to 50% of their profit at one time.

In any case, what we need are more companies following the lead. It may just be a marketing gimmick, but whatever saves me money or makes things easier is okay by me. As a final bonus they are going to offer existing customer’s the same discounts that they offer new customers. All around, I like it.

Posted by Jeff

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