AT&T recently announced price hikes for existing customers, and Verizon is now following suit.
In this article, I’ll share what we know so far about the upcoming Verizon price hikes. I’ll also share alternative phone plans to consider that may be cheaper than your current Verizon bill.
Verizon Customers Will See Price Increases Soon
If you’re a Verizon Wireless customer, you’ll likely notice a slightly higher price when your June bill comes in. Money expert Clark Howard says, unfortunately, these price hikes are becoming a trend among major cell phone service providers right now.
The shoe dropped recently with AT&T breaking their promise to existing customers and raising prices on them, even though their cost to provide cell phone service is going down. Now Verizon’s like, “Hey, AT&T raised prices, we’re going to raise prices too!”
Verizon recently announced a raise in administrative fees for customer accounts starting at the beginning of your June billing cycle.
The administrative fee is currently $1.95 per voice line, but it’s about to increase by $1.35 per line. That will bring the total fee to $3.30 per line per month. Monthly administrative fees on tablets and smartwatches are also rising to $3.30 beginning in June.
That means if you have a family plan with four lines, your bill will increase by at least $5.40 per month. Over the course of a year, that’s $64.80 more you’ll be paying Verizon.
In addition to the increase in administrative fees on personal accounts, Verizon is also adding a new “Economic Adjustment Charge” to business accounts. The charge will be $2.20 per line per month for smartphones and data lines on select plans. Tablets and non-smartphones will be charged 98 cents per month on business accounts beginning June 16.
Cheaper Plans on Verizon’s Network
Fortunately, you don’t have to just sit back and accept these price increases. Verizon is hoping you’ll be a creature of habit and simply not worry about it. However, Clark Howard recommends taking action.
If you’re a Verizon customer, it’s time for you to investigate the alternatives even if you want to stay on Verizon’s network. There are lots of cell phone services (including ones Verizon owns) that offer monthly cell phone service for a half or a third of the cost of being with Verizon itself.
If you do have great service with Verizon and want to stick with a cell phone plan that runs on the same towers, I recommend checking out Visible. Visible is owned by Verizon and provides access to the same cellular and 5G network. Plus, you can get service for as low as $25 per month per line.
Visible only offers one phone plan, but it includes unlimited talk, text, data and hotspot. The plan is $40 per month for one line, but you can create a “Visible Party” or join an existing “party” of four or more lines to get the lowest rate ($25 per line). You can read our full Visible review here.
If you do have a family with four lines you may also want to check out Total Wireless. For $95 per month with autopay, four lines can share 100GB of high-speed data before unlimited 2G speeds. Each line also gets 10GB of mobile hotspot with this plan. You can read our full Total Wireless review here.
For more options, be sure to check out our full list of the best Verizon MVNOs.
Even if you’re happy with your current Verizon plan, now is the time to make sure you’re still getting the best deal. It’s easy to get comfortable with your phone service and forget to check out other options. This is no doubt what Verizon’s hoping for as it raises the administrative fees next month.
Clark says it’s important to not become a creature of habit when it comes to your cell phone bill.
Shop your service now! Save the big bucks!
If you’re happy with your Verizon service at home, consider checking out a cell phone service provider that uses Verizon’s network. I recommend looking into Visible for unlimited service as low as $25 per line. If you have a family of four, Total Wireless may actually offer a slightly better deal. Either way, both of these companies use Verizon’s towers and provide access to the same great network.
At Clark.com, we have a variety of resources dedicated to helping you find the best, most affordable cell phone plan to meet your needs. Here are a few quick links to help you get started as you comparison shop and decide whether or not to make the switch: