T-Mobile is introducing Smartphone Equality, a program that will allow its subscribers with unflattering credit records to get another chance at qualifying for smartphone financing options. Essentially, the new program will let them enjoy easy access to the latest, most pricey mobile devices out there.
At T-Mobile, the newest and best smartphones are not always available to all customers. Sure, one can purchase a new Samsung Galaxy device or the latest iPhone model if he can foot the full price of the handset. However, if one chooses to spread the device's cost over a two-year period, you are going to need a favorable credit record in order to qualify for T-Mobile's phone financing options.
But with the carrier's new program, any subscriber under a voice prepaid or postpaid voice plan who manages to keep their bill payments in good order for a straight year will qualify for all of T-Mobile's phone financing deals.
It will not matter what phone plan a subscriber is under. As long as he pays his bills on time for 12 straight months, he gets a chance to upgrade to, say, an iPhone 6 Plus for zero down payment and regular monthly payments of $27 for a couple of years. If he wants to, he can even finance a tablet via the Smartphone Equality program.
Moreover, T-Mobile's new program is retroactive, which means that if you already are an existing subscriber with a full 12 months of payments completed on time, you will automatically qualify for phone financing. Another great thing about the program is that if customers are late on a specific payment, the carrier will not require them to pay the full price of the handset right there and then.
Almost two thirds of consumers in the United States do not possess the best credit records. With Smartphone Equality, T-Mobile is basically saying, "That's okay." Rather than relying on external sources, the carrier will make its own decision whether a customer is credit-worthy or not.
Tactically speaking, this program may be a good way for T-Mobile to encourage its prepaid customers to make a switch to postpaid, that is as long as they can pay their bills on time for a year. It is true that many consumers prefer to go prepaid, but it is also true that some of them were only forced to do so because of their unflattering credit records. Through T-Mobile's Smartphone Equality program, they get another chance at getting the smartphone plan that really fits their needs. Want to know more about T-Mobile offers? Start comparing plans and phones from the carrier now.
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