If you think you’re paying too much for cell phone service right now, there are signs that prices could soon go even higher.
Is your cell phone carrier about to raise prices?
The four major wireless carriers have spent the last couple of years slashing prices, offering phone promotions and even paying early termination fees to help you switch to their network.
But amid slowing revenue growth, the Wall Street Journal reports the days of deep discounting may soon be over.
The situation at Sprint
Sprint’s CEO recently told Wall Street analysts that higher prices are on the way. The carrier has featured Verizon’s former pitchman in its 50% off promotion, which has helped them add subscribers. But Sprint’s CEO said in late July that it would return to traditional rate plans in the “not so distant future,” according to Fortune.
If you read the fine print on Sprint’s website, it says the 50% off rate for new customers is valid through May 2018. So if you’ve been thinking about taking advantage of this offer, you might want to do it before it goes away.
Where the other carriers stand
This news comes after Verizon increased prices in July. While the carrier also increased data allotments, its new plans cost an extra $5 to $10 every month.
T-Mobile, which last raised prices in the fall of 2015, told the Wall Street Journal that it doesn’t feel pressure to increase rates again.
Meanwhile, AT&T has not raised its prices in about a year.
You have other options…
If you’re paying more than $50 a month for cell phone service, and really if you’re paying more than $20 a month, there are some cheaper alternatives you should consider.
Speaking of Republic Wireless, the carrier recently launched nine Android smartphones and new data plans starting at $15 a month. The company is unique because its technology relies heavily on Wi-Fi for calls, text messages and the Internet. A couple of years ago, Clark gave Republic Wireless a B+ or A- review.
To help you compare providers, here’s our list of the best cell phone plans.