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A recent study by the doxo bill payment service showed that mobile phone bills increased by 6.4% compared to last year. This is in line with the general jump in inflation. The numbers were released before major carriers like AT&T and Verizon announced rate hikes for some customers, so bills could be even higher now.
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Fortunately, there are ways to substantially reduce your smartphone bill, freeing up more money for other expenses or even retirement savings. In addition, some of the tactics you can use are also good for the environment.
Exchange your old devices for cash, gift cards, or statement credits
MCE Systems, a device lifecycle management company, recently reported that operators and consumers are losing money, about $ 60 billion together, by not recycling old smartphones and other mobile devices. The study showed that 62% of consumers do not exchange their old phones.
That leaves about 550 million old phones spinning around accumulating dust in people’s homes or, worse, sitting in landfills. Trading with those old phones could get you some money in your pocket.
According to the carrier’s website, Verizon Wireless allows you to exchange up to 10 wireless devices, including smartphones, tablets, and portable devices at once, and receive a credit statement, a Verizon eGift card, or cash for a new Verizon device. Some devices are worth their full value.
AT&T also has some amazing exchange deals. New and existing customers can get between $ 700 and $ 800 off popular Samsung, Apple, or Google smartphones with an eligible exchange. If you change any Galaxy smartphone, even an older one, you can get a free Samsung Galaxy S22. Or you can get an iPhone 13 Mini for $ 0 with an eligible exchange.
T-Mobile offers a credit excerpt when you change an old device and purchase a new one, add a line to your plan, or become a new T-Mobile customer. The company offers a simple online tool to determine the exchange value of your device.
Change your plan but keep your phone
If you’re looking to save money on your long-term smartphone bill, and not just earn a one-time cash return, it’s worth negotiating a lower-cost plan with your provider or even switching providers completely, Jim said Kreyenhagen, vice president of marketing and consumer services for doxo.
The national average for paying monthly cell phone bills in 2022 is $ 114, according to a recent dox research. “The best way for consumers to understand whether or not they’re getting the best deal is to know how much they should or could be paying for their bills,” Kreyenhagen said. “If consumers are armed with accurate data on what their neighbors are paying, they will be much better equipped to bargain.”
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If you decide to switch operators, find out if you can get a better deal by negotiating with your old phone or putting it in the new plan.
Verizon Wireless offers customers a $ 500 e-gift card when they place an existing 4G or 5G smartphone in the Verizon 5G Premium Plan. The eGift card can be used for other electronic devices sold by Verizon Wireless online (or in stores) or can be applied to your Verizon Wireless bill.
If you switch to AT&T and keep your current phone, you will receive a $ 250 AT&T Visa Reward Card.
Meanwhile, T-Mobile is tempting consumers to switch their entire family to a Magenta Max plan and earn up to $ 1,000 ($ 200 per device, up to five devices) with a virtual prepaid Mastercard.
Consider a mobile virtual network operator
If your smartphone bill is still higher than you’d like after the exchange incentives, consider getting some quotes from a lower-cost mobile virtual network provider like Xfinity Mobile, Boost Wireless, or Cricket, recommended by Kreyenhagen.
“These operators offer mobile services, but because they do not have network infrastructure, they may charge less because they are not paying to maintain their own network and generally spend less on marketing, in-store presence and customer service,” he said. GOBankingRates. in an exclusive email interview.
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Xfinity Mobile even has an exchange program similar to T-Mobile, where you can put the value of your old smartphone in a new purchase with Xfinity.
The Boost and Cricket websites don’t seem to have exchange deals, but Boost has a program in which you can reduce your wireless bill, even up to $ 0 a month, by playing in the BoostOne app.
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